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Where can I learn more about Price Action like those in James16 charts? 9 replies

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is james16 really a successful trader?

  • #1
  • First Post: Dec 14, 2009 12:26am Dec 14, 2009 12:26am
I just start to read james16 chart thread, and know james16 has more than 25 years trading expeirence. I just doubt that as he said in the following attachment, $1000 lost scared him. that means, he still traded small account at that time. that's so weird.

I think a successful trader can make a $1000 account to $1 million easily, because even trade 5% of his account everytime, he can make it in 200 trades. To be a successful trader, you should already have earned big money, and trades large size everytime.

any comments?
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  • #2
  • Dec 14, 2009 1:01am Dec 14, 2009 1:01am
Quoting bobowang
I just start to read james16 chart thread, and know james16 has more than 25 years trading expeirence. I just doubt that as he said in the following attachment, $1000 lost scared him. that means, he still traded small account at that time. that's so weird.

I think a successful trader can make a $1000 account to $1 million easily, because even trade 5% of his account everytime, he can make it in 200 trades. To be a successful trader, you should already have earned big money, and trades large size everytime.

any comments?
I have no reason to doubt James16. I learned heaps from him.

I know millionaires that get scared when losing $20 at the black jack table. It doesn't take their BMW's keys.

A $1000 account into $1 Million in 200 trades uh? Theory is a beautiful thing. Sucks that we have to live in reality.
Not all sins are created equal
  • #3
  • Dec 14, 2009 1:27am Dec 14, 2009 1:27am
He hasn't joined us yet it would seem
Nihil inimicus quam sibi ipse Marcus Tullius Cicero
  • #4
  • Dec 14, 2009 2:19am Dec 14, 2009 2:19am
Quoting bobowang
I just start to read james16 chart thread, and know james16 has more than 25 years trading expeirence. I just doubt that as he said in the following attachment, $1000 lost scared him. that means, he still traded small account at that time. that's so weird.

I think a successful trader can make a $1000 account to $1 million easily, because even trade 5% of his account everytime, he can make it in 200 trades. To be a successful trader, you should already have earned big money, and trades large size everytime.

any comments?
I expect that like me, 4+ years later, the things that scared me then don't scare me now.

That post was in June 2005, we've all come a long way since then.
  • #5
  • Dec 14, 2009 2:31am Dec 14, 2009 2:31am
I hope james16 are trading a big account now........just like jacko who can make 1 million dollars a year...(at least, successful traders should trade big size. otherwise,it's a waste of time and opportunity.)
  • #6
  • Dec 14, 2009 2:39am Dec 14, 2009 2:39am
How much you are comfortable with losing does not define how good a trader you are. How could it?

A 1,000 dollar loss in one trade does not define the size of your account. I am personally trading with a relatively small account and choose to keep my reserves in other accounts. Why should my broker have all the spare cash I have? In fact that makes the money management look skewed and a 1,000 loss is magnified.

Most of what I learned about trading is from James16's thread. I can assure you it's well worth reading. With respect your statement "can make a $1000 account to $1 million easily, because even trade 5% of his account everytime, he can make it in 200" shows you up a little. Get reading.
Gone to a better place
  • #7
  • Dec 14, 2009 2:50am Dec 14, 2009 2:50am
Quoting bobowang
I hope james16 are trading a big account now........just like jacko who can make 1 million dollars a year...(at least, successful traders should trade big size. otherwise,it's a waste of time and opportunity.)
Between James16 and Jacko, I would vote James16. I am not a follower of either, my route was a painful trial and error journey. If following one of them can help speed things up, I would say why not, however diligence and hard work is still the key ingredient.
  • #8
  • Dec 14, 2009 2:56am Dec 14, 2009 2:56am
Quoting smikester

Most of what I learned about trading is from James16's thread. I can assure you it's well worth reading. With respect your statement "can make a $1000 account to $1 million easily, because even trade 5% of his account everytime, he can make it in 200" shows you up a little. Get reading.
It's science...........for example, in 200 trades, you win 170, lost 30...then 1.05^170*0.95^30=858, almost 1000. and in this case, your success rate is 85% in each trade.
  • #9
  • Dec 14, 2009 2:59am Dec 14, 2009 2:59am
I think its possible to go from 1k to 1m, but you have to be very good with each trade making a substantial part of your career.
  • #10
  • Dec 14, 2009 5:05am Dec 14, 2009 5:05am
hello bobo !!

Just to add my 2 c here.

Do I think james is a successful trader? You can beat I do, and you know way is that,because what he teach us is pure gold, it's the way of who market move,it's interpretation of sentiment that are reflected in price action.

At first you must understend what he teach and after that to applay it on your on style of trading, only than you will realise that what he teach is gold.

All I have learned is from his public thread and it's all for free,I'm not yet a member of his PF,but I'm planning to join it in near future.

hope that helps

wish you the best!

edit: and about his account,yes he is trading an large account, he mentioned from time to time how much is worth a single trade, he say about 15k(hope I'm right)
  • #11
  • Dec 14, 2009 7:08am Dec 14, 2009 7:08am
Quoting triger88990
hello bobo !!

edit: and about his account,yes he is trading an large account, he mentioned from time to time how much is worth a single trade, he say about 15k(hope I'm right)
yeah! it makes sense now!
  • #12
  • Dec 14, 2009 8:14am Dec 14, 2009 8:14am
Its all about a traders style and limitations. The thing is that theres so many Americans that make money just off the stock market and making middle class incomes and are fine with that.
  • #13
  • Dec 14, 2009 8:37am Dec 14, 2009 8:37am
Does a Bear shit in the woods?
  • #14
  • Dec 14, 2009 9:32am Dec 14, 2009 9:32am
You do realize that 1000 dollar loss he talked about would have been like a 5 g' gain in a few days right? If that's not big enough, you're either a cracky or trying to impress women where your personality can't lol
I dream, therefore I become.
  • #15
  • Edited 1:24pm Dec 14, 2009 10:09am | Edited 1:24pm
Quoting bobowang
is james16 really a successful trader?

any comments?
Yeah I got one.

Discussion about any member and especially James16 who is now a "Commercial member" in the main forums where he couldn't respond even if he wanted to is just... Wrong?
FUBAR...
  • #16
  • Dec 14, 2009 10:32am Dec 14, 2009 10:32am
Quoting ak4x
Yeah I got one.

Discussion about any James16 who is now a "Commercial member" in the main forums where he couldn't respond even if he wanted to is just... Wrong?
Exactly...
Many share my views with me. But I don't share them with them...
  • #17
  • Dec 14, 2009 11:00am Dec 14, 2009 11:00am
Quoting ak4x
Yeah I got one.

Discussion about any James16 who is now a "Commercial member" in the main forums where he couldn't respond even if he wanted to is just... Wrong?
Yup. Starting a brand new thread to take a swipe at, or to call into question any single member is also wrong. The rules would imply that if you have doubts about a post or thread, simply say so within the thread in question, then move on.

AK and the rest of us old fossils can remember high school slam books. No place for that here.
  • #18
  • Dec 15, 2009 10:46pm Dec 15, 2009 10:46pm
I thought about how to answer this. I can't really put it all into words.

James16 is the most successful trader I know. I've had numerous email exchanges with him over the last couple of years, I have paid for membership to his group, I have learnt from his methods. I've even got an inkling as to his account size by joining the dots on what I've read and heard. It's very big.

I understand having a skeptical mindset. There's so much BS out there that it pays to look hard at something before following it. But, like others, I think starting a thread is probably the wrong way to go about it. Evaluate the methods, read the thread, try and make it work for you. Follow the seniors, see if you can get his style to work. That's where my energy would be going if I were you.

But by posting a thread with that title, which will show up in your post history now, you are probably not going to endear yourself to the very people who could help you to get profitable.

(PS: On the subject of this $1000 thing. Frequency or opportunity combined average win size means that you can risk small amounts and make a lot on certain strategies. When you've been doing this a while you look for ways to make your risk smaller and smaller and hold on for big winners. If you can turn a $1000 risk into $5000 reward and do it every couple of days.... you're making nearly three quarters of a million pounds a year. And that's before you include other strategies.)
  • #19
  • Dec 19, 2009 3:53am Dec 19, 2009 3:53am
Quoting TiaForex
I thought about how to answer this. I can't really put it all into words.

James16 is the most successful trader I know. I've had numerous email exchanges with him over the last couple of years, I have paid for membership to his group, I have learnt from his methods. I've even got an inkling as to his account size by joining the dots on what I've read and heard. It's very big.

I understand having a skeptical mindset. There's so much BS out there that it pays to look hard at something before following it. But, like others, I think starting a thread...

Bugger it Tia.. I'll go 1 step further.

I have learned everything i know from Jim & Mark & Mike & Patrick & a few others that pass by ff. I would not be where I am today if it was not for them.. I now trade for myself but I only started with less than $ 1000 . I am not Bill Gates or Warren Bufffet but I'm quite comfortable.
So before all the wankers get on me.... I'm not giving anyone my last 3years tax returns or any shit like that..... If you dont trust what seasoned people here have advised then well its all up to you... go find your holly grail.. & good luck..
  • #20
  • Dec 19, 2009 5:35pm Dec 19, 2009 5:35pm
Quoting rustyjeff
Bugger it Tia.....
Rusty is telling the truth, I have seen pictures of him and he doesn't look anything like Bill or Warren! Ok, being serious, Rusty and Tia are great guys and I have enjoyed learning right along side them in the private side for the past couple of years. James is a stand up guy and I have a hard time believing that the other seniors that are part of the private group would be so blind as to not see through a fake. There are plenty of old timers in the private side......if someone calls James a fake he is calling all of us fakes.

Oh, and when is this thread going to be deleted?
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