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

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james16 Chart Thread

  • #55,041
  • Feb 15, 2010 8:47am Feb 15, 2010 8:47am
I'm new to this material so I will give my opinion on the thread. I find myself wading through post after post after post that In my opinion is a waste of time in that many focus on lower timeframes and methods that are not the james16 basics. However, if it is helpful to more advanced traders--go for it.
  • #55,042
  • Feb 15, 2010 9:01am Feb 15, 2010 9:01am
Quoting tubguy
Whatever time your brokers daily bar starts. You play the bars that you
see on your chart. Oanda's pin bar may not be a pinbar on MB.


MB's new day starts at 11:00 central.
As an alternative you can simply use Oanda for the trading platform but another platform for charting and making trading decisions. I use MT4 for many reasons on charting, but i enter my orders on Oanda.

Nathan
  • #55,043
  • Feb 15, 2010 9:18am Feb 15, 2010 9:18am
Quoting TiaForex
Wow, I've been looking for that one for ages. It used to change hands for hundreds on ebay after PTJ decided he didn't want it out there and tried to nix every copy. It's a trading legend like the Yeti....

I fully expect that page to be yanked in a day or so, so it's nice to have downloaded my copy.

Thanks!
How did you download it?I tried but it will only download 1.96 mb then says download is complete,I tried it 3 times
  • #55,044
  • Feb 15, 2010 9:23am Feb 15, 2010 9:23am
Quoting nasir.khan
I think the time has come to make a final decision about this stuff.

Sorry no offence but many new guy's are coming to the thread and saying things like,

"I am demoing the basic's and this is another Demo account for my touch trades."

I would like J16, Jarroo, Mike etc, to make some final decision on this matter.

And i will be happy for whatever they decide.
.
I don't think that anybody, no matter who they are can tell other people, how to go about their trading, in a sense of what they can or cannot do. The best we can do is give good guidance and advice, like all the seniors have done tirelessly here(which I am very grateful) and then its up to each person to decide which way they want to go about it.
Just my 2 cents.
You got to know when to hold them, and know when to fold them.
  • #55,045
  • Feb 15, 2010 9:24am Feb 15, 2010 9:24am
Quoting jlmac27
How did you download it?I tried but it will only download 1.96 mb then says download is complete,I tried it 3 times
If you have Firefox, try going to Tools>add ons>get add ons.
Then install downloadhelper.

It will get most any video.

Good luck.
  • #55,046
  • Feb 15, 2010 9:28am Feb 15, 2010 9:28am
Quoting sas
I don't think that anybody, no matter who they are can tell other people, how to go about their trading, in a sense of what they can or cannot do. The best we can do is give good guidance and advice, like all the seniors have done tirelessly here(which I am very grateful) and then its up to each person to decide which way they want to go about it.
Just my 2 cents.


Good post, the problem is some people don't like it when they see others doing what they couldn't do, they push their expectations on others.
  • #55,047
  • Feb 15, 2010 9:31am Feb 15, 2010 9:31am
Quoting tubguy
If you have Firefox, try going to Tools>add ons>get add ons.
Then install downloadhelper.

It will get most any video.

Good luck.
Thank you tubguy,I don't have firefox, but will look for a download of it!
  • #55,048
  • Feb 15, 2010 9:39am Feb 15, 2010 9:39am
Quoting larryj
I'm new to this material so I will give my opinion on the thread. I find myself wading through post after post after post that In my opinion is a waste of time in that many focus on lower timeframes and methods that are not the james16 basics. However, if it is helpful to more advanced traders--go for it.
This is precisely the problem I am trying to highlight in the last few posts...
I believe . . .
  • #55,049
  • Feb 15, 2010 9:41am Feb 15, 2010 9:41am
Quoting chatzi
They are not that different at all, one is a more aggressive style of entry. If they were that different why would the posts even be in this thread!
The methods are similar but the systems are entirely different...
I believe . . .
  • #55,050
  • Feb 15, 2010 9:41am Feb 15, 2010 9:41am
Quoting chatzi


Good post, the problem is some people don't like it when they see others doing what they couldn't do, they push their expectations on others.
Well, I think most people on here is just trying to help the best they can.
You got to know when to hold them, and know when to fold them.
  • #55,051
  • Feb 15, 2010 9:45am Feb 15, 2010 9:45am
Quoting ghous
The methods are similar but the systems are entirely different...
That is probably true, I agree we should keep this thread clean of advanced stuff. So Ill stick to posting about the basics.

No hard feelings

Chatzi
  • #55,052
  • Feb 15, 2010 9:47am Feb 15, 2010 9:47am
Quoting sas
Well, I think most people on here is just trying to help the best they can.
Yes you are right, lets get back to PA.

Chatzi
  • #55,053
  • Feb 15, 2010 10:14am Feb 15, 2010 10:14am
Quoting larryj
I'm new to this material so I will give my opinion on the thread. I find myself wading through post after post after post that In my opinion is a waste of time in that many focus on lower timeframes and methods that are not the james16 basics. However, if it is helpful to more advanced traders--go for it.
To be honest I don't see what the fuss is about in terms of having people sharing their advanced 'techniques' i.e. touch trading, aggressive PPZ trading etc. Why should people who are ready / disciplined enough to know that this is advanced material be denied of learning this stuff just because a beginner might get excited / confused and start trading these advanced styles...e.g. has no-one benefited from Rac's posts?

This may appear harsh, but you cannot spoon feed people, beginners need to be able to think for themselves, it is mentioned and stated many times that beginners need to stick to PA with heavy confluence at swing highs / lows on the higher time frames before considering lower time frames and more advanced 'techniques' if a beginner lacks the discipline to listen to this statement and to methodically and logically progress through the learning stages as outlined by Jim then I would question whether they have the discipline and patience to succeed in this business.

I don't take aggresive PPZ / touch trades on a live account, why...because I know that these are advanced aggresive techniques and therefore I need to learn more about these techniques, decide whether they fit my trading style / personality, demo trade profitably for 3 months and then go live with a small part of my main account.

What stops me just jumping in and taking these trades live and overcoming the excitement that comes with seeing others like Nasir making pips with these advanced techniques...the fact that I know this is a business and I dont like to lose money...I need to be paitent, disciplined and learn, research, appraise and demo before going live (if I decide to do so)...how long will this take...however long is needed.
  • #55,054
  • Feb 15, 2010 10:22am Feb 15, 2010 10:22am
Quoting lovejoy80
To be honest I don't see what the fuss is about in terms of having people sharing their advanced 'techniques' i.e. touch trading, aggressive PPZ trading etc. Why should people who are ready / disciplined enough to know that this is advanced material be denied of learning this stuff just because a beginner might get excited / confused and start trading these advanced styles...e.g. has no-one benefited from Rac's posts?

This may appear harsh, but you cannot spoon feed people, beginners need to be able to think for themselves, it is mentioned and...
I agree, I would always advise newbies to stick to the basics, especially if they are new to trading, there is loads to learn about MM, brokers, order types etc, the curve is steep. However a quote from the first post is

MINIMUM REQUIREMENTS / THIS IS A BUSINESS

WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):


Regards

Chatzi
  • #55,055
  • Feb 15, 2010 10:22am Feb 15, 2010 10:22am
I thank those who have commented on the chart I put up.
It is beneficial to me when I view my charts in future.

This thread has always been friendly due to those who have regularly contributed of their own free time, aka 'seniors' (which includes ghous). Their advice has always been ernest and straight to the point. I don't think anyone should respond to them in a combatant and acrimonious manner. They deserve our respect, IMHO.

Let's keep this thread friendly like it has been thus far.
  • #55,056
  • Feb 15, 2010 10:26am Feb 15, 2010 10:26am
Quoting the novice
I thank those who have commented on the chart I put up.
It is beneficial to me when I view my charts in future.

This thread has always been friendly due to those who have regularly contributed of their own free time, aka 'seniors' (which includes ghous). Their advice has always been ernest and straight to the point. I don't think anyone should respond to them in a combatant and acrimonious manner. They deserve our respect, IMHO.

Let's keep this thread friendly like it has been thus far.
No offense taken from anyone brother...

We are a big happy family here,

And it'll stay like this...

g.
I believe . . .
  • #55,057
  • Feb 15, 2010 10:37am Feb 15, 2010 10:37am
Hey guys, lots of discussion about where the thread is headed and I just wanted to weigh in.

First of all, I'm glad nobody is getting really offended or upset with each other, this place is great because it's so accepting of others, and James16 has invited people to share other systems that work well with price action, etc.

If a new trader wants to learn to do touch trades, aggressive entries, etc. on demo, that is their choice. I think whenever someone comes and says they are going to do that, everybody jumps in and tells them not to, because they know from experience it is a dangerous road. Yes, there is a chance it will work for someone new, but it is much more likely to cause problems with their trading in the long run, because they haven't mastered the basics. Why is there such a rush to get to touch trading, etc.? You can make great money with the basics, why not heed the words of EVERY SUCCESSFUL TRADER on this thread, that say take it one thing at a time? Seems foolish (and prideful) to assume you are different and that you can "do what no one else has." But once again, everyone is welcome here, and I am okay with people making that decision for themselves, and happy with their participation in the thread.

I do feel that for the sake of new people to the thread, it would be better for someone researching/demoing these styles to refrain from a journal-like posting of every trade they make, because they might falsely be seen as experts by new traders. Starting a separate journal would be fine, but in general, I get the most out of posts that are either of question or teaching intent.

So if you are new and demoing these things, asking questions about them is great, and people like Raczekfx who are experienced are usually glad to help. But posting every trade you make when you don't have a proven history with that type of trade only causes confusion.

This is just my opinion, and I have tons of respect for everyone that posts regularly. I hope that this isn't seen as rude, but just as maybe a different view on why some people are upset about certain types of posts. Personally either way I will continue to read and contribute to this thread.

Cory
  • #55,058
  • Feb 15, 2010 10:54am Feb 15, 2010 10:54am
Quick question:

So today is Presidents Day in the US. Will this fact affect the validity of any signals based on daily closes later today, should they occur? We did after all have a regular Asia and Europe session...

Thanks in advance!
It's not about how much you make, it's about how much you don't lose.
  • #55,059
  • Feb 15, 2010 10:58am Feb 15, 2010 10:58am
Quoting Dhb
Quick question:

So today is Presidents Day in the US. Will this fact affect the validity of any signals based on daily closes later today, should they occur? We did after all have a regular Asia and Europe session...

Thanks in advance!
Yet I work at a Bank in the US and we are working today......ha ha. I think you will notice some lack of liquidity (and lack of movement) due to the holiday (Fed is closed, no wire transfers, deposits hit tomorrow, stock market is closed....etc....etc....), but I don't think it negates signals. Honestly I am not really seeing anything on the daily with respect to signals.

The only caveat I would throw out there is you would expect to see several inside bars (similar to slower session hours) which I would be careful without several other confluence factors.

Nathan
  • #55,060
  • Feb 15, 2010 11:17am Feb 15, 2010 11:17am
I don't consider myself a senior member, though I lurked long before I posted and I was part of the private forum (so I am old if that counts for anything.......), but I would say this:

- If you are new to this thread you are doing a disservice to yourself
by not starting at Post #1.

In other words, if you read the first twenty pages and then immediately jump to current trades and traders I think you are going to be confused. You are better off spending the time with those posts (say 90%) and maybe 10% following recent posts.

I don't think trading in general is a "read it once and you have it down" type commitment. Many times you get more the 2nd, 3rd or even fourth time you look at the same material. It is great to ask senior members opinions on trade setups after you have studied on real time trades, but I honestly don't think you can just start trading and expect good results after a cursory review for a few days.

Then again, maybe I am just not very smart........

- Eventually you have to treat your demo account as real as you
can.

This may offend some people (which is not intended at all), but until you can consistently trade profitably with demo following your set of rules I can almost 100% guarantee that you will not make money with a real account. Having said that, if you are testing new approaches or methods I am all for demoing those methods in real time. I guess my point is if you change your trading style every month or two months what good is that track record on demo?

I suffered my first monthly loss in 12 months in January, so I don't mean to sound like a pro-trader offering advice to newbies. I continue to learn and work on trading psychology and I have losing trades like anyone else. I am simply pointing out that the sooner you treat trading like a business, treat your capital like it deserves to be treated / protected and stop looking at trading as entertainment or a rush the better.

This is a great thread with great people, and we are fortunate to have such a great place. Go to any Yahoo message board for stocks for comparison.........if you want to understand Greed and Fear you have to look no further for extremes of both there. Lack of intelligence or rational thought for the most part is non-existent at those places.

Nathan
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