james16 Chart Thread | Page 2855 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #57,081
  • Mar 3, 2010 3:25pm Mar 3, 2010 3:25pm
the honor is all mine.

kids are great when your ready for them but thats the problem.

most people have them before they are ready.

dont do that. too much sleep is far better than too many kids if your not prepared for them.





Quoting s005606
Hi James,

Feel so honored to see you here talking to me.
Thank you so much for this thread, honestly, you have really saved many newbies like me. You may have heard a lot of thanks already from other people, but still, I need to give my own gratitude to you.

Yeah, I don't have a wife and kids now, that's why.....my brother does have a wife and 2 kids and yeah, you're right, he complained to me always having to get up at night feeding the baby/changing the diapers.
  • #57,082
  • Mar 3, 2010 3:27pm Mar 3, 2010 3:27pm
Quoting Pinnocchio_S
I have been profitable for the first 3 months of demo as per J16 guidelines even though I have been guilty sometimes of trading sub A++ setups.
love it.

wish i saw it more often.

  • #57,083
  • Mar 3, 2010 3:29pm Mar 3, 2010 3:29pm
good post bundy.

Quoting bundyraider
US$500 account? Go Oanda. And chart using MT4 (IBFX demo or something)

Oanda allows you to trade all the way down to $1.00
That's NOT $1.00 per pip, I'm talking about, for example , a currency moving 100 points and you receiving 1c gain because you only bought $1. lol

...That's a GREAT advantage. You can size you trades VERY appropriately and with $500 could even trade the Monthly charts if it took your fancy. 1000 pips can mean about $10. LOL (depending on the pair.)

Keep in mind with Oanda:-

Their charts are based on some average...
  • #57,084
  • Mar 3, 2010 3:33pm Mar 3, 2010 3:33pm
Thanks, I'll definately give Oanda a shot!

Today's quest in finding an appropriate broker actually proved to be quite fruitful .... in that I was able to find brokers offering micro lot access for coffee, sugar, wheat etc. and even Bund and Eurodollars. These however were CFD's ... does anyone know how these compare to the regular futures one can trade DMA? I haven't seen many Bund charts in this thread, but I know that Trader Dante used to include them in his analysis over at TW2. At first glance however (certainly as far as CFD's are concerned) is that there does not seem to be as much PA as in FOREX.

As far as MT4 charts are concerned, I am a bit concerned about the conflicting info. one might get depending on the broker feed one uses. I noticed today for instance that ActivTrades bid offer spread for USDDKK was well above UK Alpari ( If these contracts were fungible I could envisage one could make a killing arbing these discrepencies). Rather than relying on numerous feeds from various brokers, wouldn't it be better to chart actual market action (which one can obtain from Esignal or CQG)

Quoting bundyraider
US$500 account? Go Oanda. And chart using MT4 (IBFX demo or something)

Oanda allows you to trade all the way down to $1.00
That's NOT $1.00 per pip, I'm talking about, for example , a currency moving 100 points and you receiving 1c gain because you only bought $1. lol

...That's a GREAT advantage. You can size you trades VERY appropriately and with $500 could even trade the Monthly charts if it took your fancy. 1000 pips can mean about $10. LOL (depending on the pair.)

Keep in mind with Oanda:-

Their charts are based on some average...
  • #57,085
  • Mar 3, 2010 3:34pm Mar 3, 2010 3:34pm
max im not picking on you so dont take this the wrong way.

i dont care if your wrong or right and this doesnt go for just you it goes for everyone here.

wanna get booted from this thread?

be rude on a regular basis.

if someone is jacking with you ignore them. if it doesnt stop contact me personally and i will stop it for you.

I DONT CARE WHO YOU ARE if your not being treated in a kind and decent manner in my thread I WANT TO KNOW ABOUT IT.

nothing personal and im not pointing fingers.

I WANT YOU GUYS TO COOL IT RIGHT NOW.

PLEASE,

JIM





Quoting Max Profit
I hope above clears it up for you, if not, just post another childish insult as usual.
  • #57,086
  • Mar 3, 2010 3:36pm Mar 3, 2010 3:36pm
i just noticed old max is temporarily suspended.

WASNT ME.




Quoting james16
max im not picking on you so dont take this the wrong way.

i dont care if your wrong or right and this doesnt go for just you it goes for everyone here.

wanna get booted from this thread?

be rude on a regular basis.

if someone is jacking with you ignore them. if it doesnt stop contact me personally and i will stop it for you.

I DONT CARE WHO YOU ARE if your not being treated in a kind and decent manner in my thread I WANT TO KNOW ABOUT IT.

nothing personal and im not pointing fingers.

I WANT YOU GUYS TO COOL IT RIGHT NOW.

PLEASE,...
  • #57,087
  • Mar 3, 2010 3:37pm Mar 3, 2010 3:37pm



Quoting joelcf
I made 5000% this morning when I asked my girlfriend for a dollar coin for the coke machine at work and found a $50 note in her wallet.

I should so write an ebook.

...
Looking for some action on AUDUSD. Let's see if the Ghost or the Darkness is waiting above 0.9060. Then sleep.

Attachment
  • #57,088
  • Mar 3, 2010 3:42pm Mar 3, 2010 3:42pm
LET IT GO MY FRIEND,

Jim

Quoting Ryanmcd
Why do you care what I do if I am have no money and don't post my bank account?

So you call me out, say I am full of shit and then ask me for help?
  • #57,089
  • Mar 3, 2010 3:45pm Mar 3, 2010 3:45pm
Me and mike were seperated at birth but he was kept in suspended animatioin until i was around 20 or so.

nice job brother.

jim

Quoting mbqb11
Here is my honest answer and what I tell most people
I hate talking bout the private forum in public. I don't ever want people think we are soliciting b/c we just aren't that type of group

To answer your question someone asked me the same thing and I wrote


My first recommendation is to just hang around the public forum. You will be able to learn a ton there and in fact I tell people to spend 3-4 months there before deciding to join us anyway. See if what we do is for you, there is enough information on the public area here alone to make someone...
  • #57,090
  • Mar 3, 2010 3:49pm Mar 3, 2010 3:49pm
Quoting mbqb11
Who let James out of his bag last night, now I have some major catching up to do
lol. i thought you might notice my prowling around.

i stumbled off to bed at 6am.

had a blast here last night.

this thread is where i feel at home. nothing else comes close.
  • #57,091
  • Mar 3, 2010 3:51pm Mar 3, 2010 3:51pm
Thanks for the encouragement! Still however too small a sample for me to have confidence that this is a permanent thing. However, with the help from yourself & others in this thread I am more likely than ever before to become long-term successful

I started off my trading career looking at short stirling and Euribor spreads in an arcade type setting. Saw many come and go, and in the end decided to try something else given that I was only clearing 10K GBP per annum after desk costs ( which came to 2.5 K per month - so as you can see, I was basically trading for the arcade). The trouble was that we got very basic training to begin with, & there was noone who would really guide us thereafter.


Quoting james16
love it.

wish i saw it more often.

  • #57,092
  • Mar 3, 2010 3:57pm Mar 3, 2010 3:57pm
This post and others like it are what make it all worth it.

we are honored to have you.

your not an idiot for dismissing anyone in this business.

im no hero and im no guru.

the only thing i do here is present a method forged from 30 years of searching with that same burning desire you mention.

nothing more/nothing less.

Im thrilled that people seem to have success with it in some form or another.

after 5 years it still amazes me.

jim





Quoting Bollocks
greetings to all J16 traders from London

quick onto to myself.

I began walking the path of a trader in june 2006. Like everyone, i have made all the blunders that make this business so challenging. To me this has been the most challenging endeavour i have ever attempted. But i am happy to say that i finally found home at J16. I have been lurking in the background since Nov last year applying the material only on the dailies. I have never found success like this before + i finally have a life away from the charts

for my first post i must...
  • #57,093
  • Mar 3, 2010 3:57pm Mar 3, 2010 3:57pm
Quoting Pinnocchio_S
Today's quest in finding an appropriate broker actually proved to be quite fruitful .... in that I was able to find brokers offering micro lot access for coffee, sugar, wheat etc. and even Bund and Eurodollars. These however were CFD's ... does anyone know how these compare to the regular futures one can trade DMA?
CFDs are a bit of a gamble. There are some honest players, but there are many, many shady ones.

A CFD is different from a future in that you arent trading the actual instrument, you are trading a derivative contract with your broker under which you gain/lose based (often very loosely) on the movement of the underlying instrument.

That's how your broker can offer microlots over sugar, currency adjusted spot gold, etc.

Some will then hedge your trade into the market, but many wont. And so, with these latter ones, everything you gain - they lose. And conversely, everything you lose... they gain. And they control the data. I see a tiny conflict of interest here. Something akin to a fox guarding the henhouse, or whatever the saying is.

So you see all kinds of shady behaviour. Large spreads, huge slippage (probably the biggest problem), random spikes, etc.

Not all are bad. I use one now and then for backup and special situations. But for everyday trading, I cant think of any reason that you would want to go for a CFD provider over a real broker with real market data and actual execution.. just guard your grill

(also, I believe there are some tax advantages for UK residents? So there might be a lower concentration of dodgy players there if people have a legitimate reason to use them.)

Quoting Pinnocchio_S
At first glance however (certainly as far as CFD's are concerned) is that there does not seem to be as much PA as in FOREX.
Unless your broker is playing games, you will see the same PA on a CFD as on a futures or forex chart. It doesnt strictly meet the definition, but if their contracts got too out of line with the underlying, there would be an arbitrage-like situation as you suggest (more of a pairs trade, possibly?).
When you have to shoot, shoot. Dont talk.
  • #57,094
  • Mar 3, 2010 4:14pm Mar 3, 2010 4:14pm
Quoting bundyraider
Keep in mind with Oanda:-[/b]

Their charts are based on some average value in the middle of the spread.
So you may end up setting your stop at what is not actually the high or low of whatever bar you are basing the trade on.
That is true. I almost forgot about that. The price line is the average of bid and ask. But you can turn on a price line for the actual bid and one for the ask too if you want. What you get are two lines straddling the current bars close... nib thing. Spreads are small so it isnt a big distraction if thats what you need to do.
  • #57,095
  • Mar 3, 2010 4:15pm Mar 3, 2010 4:15pm
i couldnt agree more.

5 years is a long time and this place was once a ghost town.

whatever people eventually end up thinking about me is fine but everyone should always remember one important fact.

None of it was even my idea.

its hard to be a scammer when you said no to peoples money and merlins own pleading for nearly half a year.

why? ive been around for a long time folks.

almost everyone in this business is a scammer to some degree. sorry its the truth.

i wanted nothing to do with that. thanks but no thanks.

everything i do and dont do is to keep that monkey off my back.

look at the people i have surrounded myself with.

thats all you need to know.



Quoting StoragePro
You are dead on smart to be careful. Don't beat yourself, that was a smart thing for you to do.
  • #57,096
  • Mar 3, 2010 4:15pm Mar 3, 2010 4:15pm
Quoting joelcf
CFDs are a bit of a gamble. There are some honest players, but there are many, many shady ones.

A CFD is different from a future in that you arent trading the actual instrument, you are trading a derivative contract with your broker under which you...
CFD's don't have any holding periods, like stocks do. You can also trade off leverage, without being hit with a 7 percent interest fee per year (or whatever it is). I think they are useful for people who don't have 100k accounts. I've been following them for awhile now with the intent to trade them later. I think what you are saying sort of bothers me though. I think I will keep a closer eye on these price differences. Do you know of any MT4 brokers who you trust to provide fair data? Right now I'm looking at Alpari. I don't see anything crazy in the last few months, but before that, there are definiately some worrisome spikes almost all over the place (oopsy, your referring to CFD futures, probably no holding times)
  • #57,097
  • Mar 3, 2010 4:15pm Mar 3, 2010 4:15pm
Hello,
Just wondering if this 2 day pin off RN looks good enough to take us back near the top of prior bar? Plenty of space... but I know it has been said you can't stop a roaring train.

There is some divergence on RSI and last support of 16000, where the MA sits (looking like a potential rubber band) that it should make a move back to.

Am I correct... please?

Cherry
Attached Image (click to enlarge)
Click to Enlarge Name: 2 day pin bar ct.gif Size: 32 KB
  • #57,098
  • Mar 3, 2010 4:21pm Mar 3, 2010 4:21pm
yes,

most people are attracted to them because of the leverage.

as a result most of them are then attracted to the poor house.

Quoting Jlr
I think they are useful for people who don't have 100k accounts.
  • #57,099
  • Mar 3, 2010 4:22pm Mar 3, 2010 4:22pm
Quoting james16
yes,

most people are attracted to them because of the leverage.

as a result most of them are then attracted to the poor house.
That bad huh? Aren't like 99 percent of brokers just bucket shops anyway? Wouldn't it be the same deal? Direct conflict with the brokers etc?
What I really don't get about these stock CFD's, why am I paying a negative swap? Makes no sense?
  • #57,100
  • Mar 3, 2010 4:33pm Mar 3, 2010 4:33pm
Quoting james16
Me and mike were seperated at birth but he was kept in suspended animatioin until i was around 20 or so.

nice job brother.

jim

What about me!!!!!! LOL
141 traders viewing now