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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

  • #71,081
  • Aug 10, 2010 5:57am Aug 10, 2010 5:57am
Quoting Adilius07
May I ask those who are on PF. If anyone can explain woud be fantastic.

I am thinking to join the PF soon, I just have some important expenses coming up so each dollar is counted now. But my question is this.

I have read a lot of this free thread. More than half for sure. I spend sleepless nights reading thought it. So I think I pretty much understand the concept, now it is the time for me to prove it with practice.

So, do I need to join? Is there still a lot of additional info and what I got understood is just a top of the iceberg??...

Hi Adilius, if you are serious about your success you could do nothing better than join the pf IMHO. It is a place to feel at home in this scam infested business. Somehow Jim has managed to create a genuine learning and supportive enviroment that it is hard to find in any field. If you are like me at all what you need is less of what you know, although you will never need to look far again in the PF to find anything you need, but more support for what you already do. Success a spiritual and emotional endevour, wealth and prosperity are nothing without heart and indeed are more likely to elude you without them . You may just feel a little better about youself in the pf and that can do wonders, all the info and education notwithstanding. There may be much hard work that is needed but you will find the support you need if you ask in the pf and more info and uncluttered real time stuff than you can use. J16 is a family inspired by the generosity and genuine humanity of one man made what it is by hundreds of others drawn to it with the goal of trading profitably as a business. I for one believe J16 PF second to none and I am proud to be part of it.
You must come to your own decision and like with any trade decide if it has the neccessary confluence to be part of your plan.
Si.
GOD IS NOT SHORT OF CASH
  • #71,082
  • Aug 10, 2010 6:02am Aug 10, 2010 6:02am
Quoting Adilius07
May I ask those who are on PF...
i am not a member yet...

here are PF-related posts
here
here
here
here

these may aid in your decision.
  • #71,083
  • Aug 10, 2010 6:14am Aug 10, 2010 6:14am
Quoting Swami S
Hi Adilius, if you are serious about your success you could do nothing better than join the pf IMHO. It is a place to feel at home in this scam infested business. Somehow Jim has managed to create a genuine learning and supportive enviroment that it is hard to find in any field. If you are like me at all what you need is less of what you know, although you will never need to look far again in the PF to find anything you need, but more support for what you already do. Success a spiritual and emotional endevour, wealth and prosperity are nothing without...
Swami, thank you very much for your post. One thing I unserstood from it, is that I gain an advantage of being a part of the group where I can get inspiration, generous people around me.

Someone told me about a month ago that this was "A best investment he has ever made" but did not clarify.

So mostly it is the benefit of belonging to the group of successful people?

Is there like a written "example plan" of what I can do to start doing my trading right to the detail?

What I mean is: Now I know that there are some things like PPZ, PB, IPB, BUOB etc... I saw many examples of of how to trade them right, I can always ask whatever is not clear and someone would be here to help.

But still I have to develop my own way of doing things around this concept (!) Is this a right way? I cannot know at this point of my experience, only time will show... Look I understand I would not be spoon fed. But I think I need more mentoring, like if you (being consistently profitable) would stand behind my shoulder and would just say " Look man, this not how you do it, put your stop here, target there, take this one skip that one, and you'll be doing this right.. because I KNOW I TRADE THIS WAY AND I EARN CONCICTENTLY....

But now, is a trial and error for me... but I don't mind this free forum info still more than I could dream about..

Does this make any sense?
  • #71,084
  • Aug 10, 2010 6:16am Aug 10, 2010 6:16am
Quoting supremeChaos
i am not a member yet...

here are PF-related posts
here
here
here
here

these may aid in your decision.
Thanks Supreme, goin to read through them now


Those are really good posts straight to the point. Another clear advantage is Webinars, I learn faster from video examples...
  • #71,085
  • Aug 10, 2010 6:34am Aug 10, 2010 6:34am
Quoting Adilius07
....
Is there like a written "example plan" of what I can do to start doing my trading right to the detail?
...
i heard & was told a few times that J16 traders like ghous have journals there.
u can take inspirations & models from there (on how to trade, specifically suitable to your personality).
actually if u read & follow posts by J16 traders here --- mbqb11, bundyraider, raczekfx, ghous, jarroo, James16 etc, u will already learn a lot & be able to adapt trading style specially suited to u.
  • #71,086
  • Aug 10, 2010 6:39am Aug 10, 2010 6:39am
Quoting Adilius07
Thanks Supreme, goin to read through them now


Those are really good posts straight to the point. Another clear advantage is Webinars, I learn faster from video examples...
I am also a member, and have been since the beginning of april (excluding this month due to financial reasons)

I suggest that you take the video tour of the PF http://www.james16group.us/Guests/tours.html

I think that will answer some of your questions.

-V
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #71,087
  • Aug 10, 2010 6:47am Aug 10, 2010 6:47am
Quoting s2659
I am also a member, and have been since the beginning of april (exluding this month due to financial reasons)

I suggest that you take the video tour of the PF http://www.james16group.us/Guests/tours.html

I think that will answer some of your questions.

-V
Thanks. Yes I saw all those videos.
I think I will join, if I would be allowed to, anyway I don't see any other source which is better. Is just the thing that I spend so much money on the educational stuff before, and all were good yes, but my trading is the same as it was the first day I heard about trading (3 years ago) - in terms of results. Yes I know so many terms now lol, but the equity curve is always goes to minus in the long ron.... so I hope this can change this time....

Some people say it is just not doable that's all. FOR NOBODY. I don't know who is right. How can I know if I cannot prove myself, or never met a succeful trader in my life... eh... Maybe this time things can change...
  • #71,088
  • Aug 10, 2010 6:56am Aug 10, 2010 6:56am
Quoting Adilius07
Thanks. Yes I saw all those videos.
I think I will join, if I would be allowed to, anyway I don't see any other source which is better. Is just the thing that I spend so much money on the educational stuff before, and all were good yes, but my trading is the same as it was the first day I heard about trading (3 years ago) - in terms of results. Yes I know so many terms now lol, but the equity curve is always goes to minus in the long ron.... so I hope this can change this time.......
Since I can only account for myself. I can say I have been profitable every month except one which was -1% equity. since I joined the PF (on demo though, will be going live soon).

Although I think what have contributed to my success is that I hadn't been spoiled by bad habits before I joined. But I know it is possible to be consistently profitable. And of course one needs, burning desire to succeed, perseverance, time and hard work!

I can only reflect on my experience so far, which has been very very good. I am going to continue my subscription until I am a lifetime member thats for sure!

-V
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #71,089
  • Edited 7:20am Aug 10, 2010 7:02am | Edited 7:20am
Quoting Adilius07
...
but my trading is the same as it was the first day I heard about trading (3 years ago) - in terms of results...
Some people say it is just not doable that's all. FOR NOBODY. I don't know who is right. How can I know if I cannot prove myself, or never met a succeful trader in my life... eh... Maybe this time things can change...
let me share some thoughts:
results are not the only measurement of success &/or improvement.

Dont let ANYbody tell u what u can & cant do. only YOU can decide & discern what u can & cant do.
(think about it: IF trading is NOT doable, then we all are wasting our time here!)

Things DO change.
u can start with the words u use.
as much as u can, use positive words. &think positive thoughts.

just my views
  • #71,090
  • Aug 10, 2010 7:19am Aug 10, 2010 7:19am
Quoting Adilius07
Some people say it is just not doable that's all. FOR NOBODY. I don't know who is right. How can I know if I cannot prove myself, or never met a succeful trader in my life... eh... Maybe this time things can change...
I think the only way to win in this market is through solid money management. I am trying to use mm these days. I only trade bigger TP with smaller SL on live account and trade smaller TP and bigger SL in demo only. This way, I will be winner even if I have 50/50 win and loss. Using MM to filter trades should be considered for a long term win, no matter how much knowledge we have.

Its my opinion.
  • #71,091
  • Aug 10, 2010 7:22am Aug 10, 2010 7:22am
Thank you S and Supreme.
I think pretty much I understand what to expect in PF.

In regards to personal success, I need to prove it to myself. That it is doable, I think 5-6 months (without loosing most of account would mean some progress to me).

Now as I learned from trading (to judge objectively) my performance is no way can be called successful, it is losing. I can find million ways to say I grow, I learn, I improve, but the bottom line is money are not made they are lost - this is objectively....
  • #71,092
  • Aug 10, 2010 7:27am Aug 10, 2010 7:27am
Adilius, read my signature
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #71,093
  • Aug 10, 2010 7:28am Aug 10, 2010 7:28am
Quoting The Lord
I think the only way to win in this market is through solid money management. I am trying to use mm these days. I only trade bigger TP with smaller SL on live account and trade smaller TP and bigger SL in demo only....
i agree, solid MM is 1 of the keys to our success.

however i dont see how contrasting MM will yield good consistent habits.
ask yourself, why different MM for live & demo? (when u drive a bike or car,
do u drive differently from what u learned when u were just practicing?)
IMHO, what/how u demo should be the same way u want to trade live.

something to think about
  • #71,094
  • Aug 10, 2010 7:30am Aug 10, 2010 7:30am
Quoting s2659
read my signature




Quoting Adilius07
....
In regards to personal success, I need to prove it to myself. That it is doable, I think 5-6 months.....
may or may not be 5-6months
  • #71,095
  • Aug 10, 2010 7:31am Aug 10, 2010 7:31am
Quoting The Lord
I think the only way to win in this market is through solid money management. I am trying to use mm these days. I only trade bigger TP with smaller SL on live account and trade smaller TP and bigger SL in demo only. This way, I will be winner even if I have 50/50 win and loss. Using MM to filter trades should be considered for a long term win, no matter how much knowledge we have.

Its my opinion.
Lord, exactly this I meant when I was saying I need to be shown the way to trade around this concept. I would give short example.

We have two traders both at the same level. Both learned the same info here. One enters on the PB and places his stop behind PB, the other one enters on the same PB but places his stop behind left eye. After 6 months first trader finds he is at the breakeven and didnt make any money. The second one has made good profit even though had more stops. They both learned a lot, improved - but one made money and another has lost a little.... And the one who made money was just instructed by someone more experienced that this is the way to it better...

(I do not know in this expample who is right who is not, it just an example)

Most would say you choose your own way - I agree, but choosing my own way is only through tial and error, and I hope joining PF would somehow shorten this process a little...or maybe a lot... this trial and error thing could go for many many years if I do something which is wrong in the beginning...
  • #71,096
  • Aug 10, 2010 7:32am Aug 10, 2010 7:32am
Quoting supremeChaos
i agree, solid MM is 1 of the keys to our success.

however i dont see how contrasting MM will yield good consistent habits.
ask yourself, why different MM for live & demo? (when u drive a bike or car,
do u drive differently from what u learned when u were just practicing?)
IMHO, what/how u demo should be the same way u want to trade live.

something to think about
Sometimes a good price action comes up, but the target is lesser and the stop placement would be high. I can't keep myself from taking the trade in such cases. So, I am controlling myself into a strict MM. Its like leaving the habit of drugs slowly..
  • #71,097
  • Aug 10, 2010 8:14am Aug 10, 2010 8:14am
Quoting Adilius07
....
We have two traders both at the same level. .... And the one who made money was just instructed by someone more experienced that this is the way to it better.......
IMHO, two persons or 2 traders will never be equal. one is always better than the other. everyone is unique.
also, instruction frm a senior, experienced &/or successful trader DOES NOT guarantee that the 'student' will succeed.
the strategy/method use always depend on a trader's personality.. therefore a method used successfully by a 'mentor' will not necessarily bring a similar &/or good result to the 'student'
Quote
...Most would say you choose your own way - I agree, but choosing my own way is only through trial and error, and I hope joining PF would somehow shorten this process a little...or maybe a lot... this trial and error thing could go for many many years if I do something which is wrong in the beginning...
yes, trial & error, i agree...
but joining the PF may or may not fulfill your hopes &/or expectations.
based on your posts & your profile, u seem to be expecting an external source (the PF in this case) will bring u success (faster) &/or will be a medium that will bring u near success (faster).
my point is whether u join the PF or just read this free thread, success will come when u are ready & when u realize that success comes from within YOU -- success is not produced by this thread nor the PF. success comes from what u make of (what u do with) what u learn from this thread &/or the PF.
learning -> experience -> confidence -> more experience -> success

English is not our main language so i hope i made sense.


Quoting The Lord
Sometimes a good price action comes up, but the target is lesser and the stop placement would be high. I can't keep myself from taking the trade in such cases. So, I am controlling myself into a strict MM. Its like leaving the habit of drugs slowly..
of course u can. if u wanted too (just wait for other, better trades).
having said that, if it works for u, then it's all good. (just have to beaware of the risks &/or consequences)


just my views
  • #71,098
  • Aug 10, 2010 8:23am Aug 10, 2010 8:23am
NZDUSD
1 Hour chart
Pinbar
Countertrend (short term)
0.7200 RN - not a BRN but zooming out shows it's very significant level
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3.jpg Size: 67 KB
Click to Enlarge Name: 2.jpg Size: 69 KB
  • #71,099
  • Aug 10, 2010 8:25am Aug 10, 2010 8:25am
Quoting Adilius07
Thanks. Yes I saw all those videos.
I think I will join, if I would be allowed to, anyway I don't see any other source which is better. Is just the thing that I spend so much money on the educational stuff before, and all were good yes, but my trading is the same as it was the first day I heard about trading (3 years ago) - in terms of results. Yes I know so many terms now lol, but the equity curve is always goes to minus in the long ron.... so I hope this can change this time.......
I am a member (lifetime member now) and I can honestly say that it's worth every penny and then some.

You can always try it out for a month and see how you get on, but I doubt you'll want to cancel. There is so much information to get through and the advice, help and support from Mike and other members is excellent.

Highly recommended.

Robert
  • #71,100
  • Aug 10, 2010 8:30am Aug 10, 2010 8:30am
Quoting Jonnyislost
NZDUSD
1 Hour chart
Pinbar
Countertrend (short term)
0.7200 RN - not a BRN but zooming out shows it's very significant level
Hey Jonny,

This one has got me wondering whether I should break my BRN rule .

Robert
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