james16 Chart Thread

That was exactly my trade. Breaking 1.2150 PPZ( just for 100 pips, cos i dont trade against trend)

Thanks very much for this thread. Sorry for my english. I am getting betterI can read and understand every post. Its not so good with my writing. Thats why I dont post my chart here I will get to do that. Because this thread helped me so much.

Thanks guys

One more question Mike: If AUDNZD played out exactly as you've laid it out, what would you look for when seeking an entry? Basically, would you look for pa at your first projected bounce off the lower trend line, or would you wait for it to bounce off of the resistance of the upper trend line? Lastly, what would you say is your most favored type of pa at pivot zones: buob / beob, dbhlc / dblhc, or pb? Thanks for taking the time to answer my questions, by the way.

Hey Man

I would not be looking to play within the consolidation pattern, too choppy for me. I would be looking for PA at the pullback where the red arrow is. I play all PA bars, but the majority are outside bars and pinbars for the most part.

Best
Mike

Hey guys,

I know I'm new to this thread but just wanted to share. I've lost half my account over the last 12 months and that's with most of my strategies breaking even and every now then doing something stupid out of frustration and losing a decent %.

Anyway thanks to this thread I'm starting over. I'm going back to demo and following the J16 minimum requirements. I've learnt a lot but the frustration of scrambling back to break-even on your account is a psychological killer!

I've spent thousands on education and trusted my trading to a few mentors but in the 12 months I've been with them they're continually changing their strategies.

This thread has been going for 5 years and I'm reading the same stuff at the beginning as I am at the end. So for me that inspires confidence, certainly enough to demo for 3 months to see what happens.

That is all, have a good evening

I'm glad you said that, Mike, because that's where I'd like to play it. I just wanted to make sure I wasn't too far behind the learning curve.

And, Dan, remember this: Nietzsche once said, "he who would learn to fly one day must first learn to stand and walk and run and climb and dance; one cannot fly into flying." Most people, myself included, who first begin working the forex markets tend to dive right in due to the excitement and thoughts of making money at a fast pace. The problem is, we don't take the time to toe the water to test its depth before taking the big plunge. The market moves very quickly for you and very quickly against you. I've blown up 2 accounts in the past, so be lucky that you've not only found this thread, but that you've found it with half of your account still intact. Good luck and happy trading!

hey guys

3 fib retraces

a james ppz

pin bar.

only thing missisng from this to make it A++ is a round number

http://i432.photobucket.com/albums/q...Untitled-7.png

Since there has been some discussion with this pair thought i would throw-up these charts

Nice looking daily pin....it stands out...looks like u could pick it ...also gap close below...looks like u may possibly get a few pips from it but I hate to babysit...getting to old for babies...also seeing some ppz's in the way

pitfalls---TRAFFIC(thx Mike)...will never forget the vid u made....also that trend line and the sideways consolidation...does not look like a SLAM DUNK trade (Go Celtics!)....I'm getting very fussy in my old age! Thx James and seniors for instilling "being picky"

Although it may work very well--oh well there will be more opportunities

Hi DAN... I am frank, I am from Slovakia... sorry for entertainment agaist N.Zealand, but things happend hehe... BUT...
Forex... I blew 2 my accounts alredy.. One 1000 GBP, one 300 gbp... This thread is great stuff and so far, I have 1100 uSD account that I have been building it up for half of year... My account was almost 1200 USD, but problem is ONLY..... MY HEAD.... Understand??? All is in my mind, in your mind, in everyone else mind.. Thats my experience... What is holding me up, is NEVER GIVE UP... I have my dreams, I have my targets. Everyone has.. If you will go step by step and learn, you will be good!! Just learn from your mistakes and dont do them again.... My succes is, that my account is after ONE year trading 1 microlot still alive, not blew again.... not profitable yet, but still there... And I am learning mate. Its very tough, but I do not want to give up... This thread, James god bless YOU, is my great help.... All this guys writting posts, answering questions...
Just take a while and think WHAT DO YOU WANT.... and GO! At the end of the day... YOU WILL WIN! I will win.. Just believe...
Thats my 2 cents...

P.S. Sorry for my english...

Hi Dan,

I started minimum requirements this month as well. can only be the start of a very good journey

Dos Equiss. Stay picky my friends

if you are just starting out i recomend you beg borrow steal your way to a PF subscription.

I think the Loonie might be heading south..

I've been in this thread since Feb but yeah when I get some decent work I'll be in the PF

Hi Feri,

I am pretty the same like you I live in Pezinok... SLOVAKIA

I discovered this thread about 9 months ago. It helped me so much When I discovered this thread I realized its not about strategy, but its about this simply approach. You can use any trading system with this(what u learned here) and u end up with successful status

Thanks a lot guys again

I hesitate in posting this but after spending almost a week researching FOREX I though it would be interesting for those experienced hands to understand where us newbies are coming from these days and for others like me to realise that they are not alone.

Like many people looking for a better life a few years ago I read Rich Dad Poor Dad which made it very clear that a having a job would not make your rich and the only way was to achieve such ambitions is to be a business owner or investor. I have always been interested in business and although like everyone I hear of bankers bonuses and their shopping sprees after bonus time I have always seen it as gambling and dismissed trading as an unreliable way to become rich.

Last weekend I attended a seminar over 3 days we had motivational speakers, economic analysis and the usual sales pitches for training guaranteeing winning methods to make millions in property, on the internet or trading. Although I never attend such courses I usually pick up a nugget or two of information during the sales pitch which proves interesting and worthy of further investigation.

This time was different a speaker presented forex trading, I have seen these before but not so polished and professionally executed. The arguments for trading were compelling but the guarantee of rags to riches after a 2 day course seamed dubious but worthy of a little investigation especially as so many people signed up for the course there and then - at least 100 people at $5000 each (training is certainly a good business - although probably not ethical enough for me in this situation)

I investigated this company and although they certainly seam to be one of the biggest in the UK I soon identified the unhappy customers and confirmed that 2 day's training in forex will in no way make you anywhere near a competent trader. I feel for all those people who signed up for training who will blow their $5000 and more in the following months of live training.

I must admit through my research this market has intrigued me and I am certainly lucky to have found this group. James seams to have learnt the hard way as many do in this industry and many others. It is rare to find someone who is willing to share that experience especially one with so many testimonials who hasn't sold out - I found his commercial site and would definitely not describe it as selling out.

I now consider myself a well informed newbie, I still have no idea of the technicalities of Forex and to be honest even the posts on this thread are way over my head but my strategy is developing. Firstly I need to understand the very basics - what is forex and what is a pip before even contemplating this very highly regarded thread so I am off to babypip school (http://www.babypips.com/school/). Once I have the very basics under my belt I will move to understanding this thread although what I have read so far on strategy makes perfect sense and it is an approach I can identify with - treat trading as a business, practice and test until you can prove your are able to make money before you make any investment. Further I can identify with a number of James' posts where he highlights that the biggest obstacle to those trading is the size of the account and where a trader has a small account he or she may not be satisfied in picking 2 or 3 trades a month and end up being just a few dollars ahead. I do not have the means to trade on a large account and certainly understand the risks of having big expectations but a small account which cannot offer the lifestyle that after a number of years is on offer. So my strategy is to develop two businesses over the next few years the first will not trade for probably 5 years and this will be my long term goal of Forex trading I need to learn the basics and understand that i will never be able to make big money on 2 or 3 trades a month until I have a big account but I must be ready for when I do have a big account. My second business will have two objectives fund my forex trading account and be a fall back position if I can never graduate pipschool or achieve results after thousands of hours of chart time.

So James and team, your rules at the beginning of this thread are well understood by this newbie and I hope others that follow, you saved me from being ripped off through a dodgy course, you saved me from diving in with real cash and you have made me understand that although this business is hard work the lifestyle on offer with a reasonably sized account and years of practice is certainly worth the it.

Thank you and I look forward to developing as a trader with your help.

I hope this fluffy post adds to this thread and just doesn't create noise

I will now start reading this whole thread cover to cover - again.

BR

The small gaps I don't really pay any attention to them. The recent one on the EJ was less then 20 pips. The big gaps are hard to ignore. So just like PA, the gap size is important to me.

Any opinions on using an 8 hour chart?

go for it my friend

Jarroo loves it

Hey datogio. What's going on brother?

You gotta like Support turning into Resistance (and vice versa ,of course).

I like that spot.