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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

  • #73,801
  • Edited 7:41pm Sep 2, 2010 7:25pm | Edited 7:41pm
Quoting dfumagalli
Taking 10 A++ trades a year (9 of which winners) looks so good...


... until you realize your $1000 account becomes something like $1300.


Is this whole system reserved for people starting with $100k in their account? I don't see how someone with a $1000-$5000 account could make a living even after some years of trading.
Gee, 30%pa? What a scam. I want a refund for the free information in this thread. Jim has clearly misled me with that line in the first post where he said 'Turn your $1000 into millions overnight!'

Exactly how else were you planning to 'make a living' with your thousand bucks? I imagine it involves ebooks and EAs.

Quoting mbqb11
small rant coming
You are way too nice - what happened to the whole 'angry New Yorker' stereotype?!
When you have to shoot, shoot. Dont talk.
  • #73,802
  • Sep 2, 2010 7:51pm Sep 2, 2010 7:51pm
Quoting mbqb11
small rant coming

This isn't really the point of his meaning you need a big account. You need a big account mentality or a mentality that what you are doing matters....
Great comment !! Somewhere I came across statistics that 80% of the funds underperform market returns. 1000->1300 = 30%. If one can achieve this return consistently he/she will be producing similar results as some of the best fund managers in the world.

And if I am doing it by enjoying this process of learning and trading I will be happy :-)

When I first started reading this thread, I was happy with returns same as market - average 12-15%pa ( because I enjoy learning this and do no think I am wasting time). I would love to get to 30% mark ( consistently though) and looking forward insights from gurus on this thread.
  • #73,803
  • Sep 2, 2010 8:20pm Sep 2, 2010 8:20pm
Pairs and US market waiting for tomorrows news/employment?
  • #73,804
  • Sep 2, 2010 8:26pm Sep 2, 2010 8:26pm
Quoting joelcf
Gee, 30%pa? What a scam. I want a refund for the free information in this thread. Jim has clearly misled me with that line in the first post where he said 'Turn your $1000 into millions overnight!'

Exactly how else were you planning to 'make a living' with your thousand bucks? I imagine it involves ebooks and EAs.



You are way too nice - what happened to the whole 'angry New Yorker' stereotype?!
hahah Joel i think it works better when me and you play good cop bad cop
  • #73,805
  • Sep 2, 2010 8:27pm Sep 2, 2010 8:27pm
Quoting bluetrader
Hey Liu, what's up.

It is a valid pin bar that failed. This happens and nothing is 100%.

With practice you'll start to notice where traffic is and zones (PPZ's) will jump out at you when you look to the left of the bar. You'll also learn about quality pin bars versus "weak" pin bars. Location is king, etc.

In regards to this pin bar. It's weak to me because the close was almost half-way up the bar. Ideally, it should be in the bottom third of the bar for shorts. Compared to the prior 4-5 bars, it's kind of too small to reverse the momentum....

It sure does help alot Danny! Am really grateful for your reply. I've got alot more to learn.
  • #73,806
  • Sep 2, 2010 8:33pm Sep 2, 2010 8:33pm
Go Buckeyes!!!
  • #73,807
  • Sep 2, 2010 9:00pm Sep 2, 2010 9:00pm
Quoting ppfx
As i see it from the picture is about 37C. Are you sure that you didnt measure your body temperature PB?

Just kiddin' a little. Its really hot in Japan. Id never thought the temperatures are so high there. I had luck and last sunday finally started to rain and now we have about 25C instead of 35C (previous week)

Actually, you are almost right, I had a 37.5 temp on Wednesday night and a sore throat. Over it now, I think. I will know when I stop making M30 trades.

Yeah, being from the UK, handling heat like this is not easy, even with AC.

It is the hottest and longest summer here in 113 years according to the meteorological agency.
  • #73,808
  • Sep 2, 2010 9:29pm Sep 2, 2010 9:29pm
What the.........


My FXDD live account has a monthly GU PB but when I open another GU chart, it is not there. May be a bad tick but this is weird.


Switching the TF on the chart does not alter it.
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  • #73,809
  • Sep 2, 2010 10:17pm Sep 2, 2010 10:17pm
Quoting mbqb11
small rant coming

This isn't really the point of his meaning you need a big account. You need a big account mentality or a mentality that what you are doing matters. If you could take 2-3 trades a month and make a nice return why would you waste your time with crappy trades. This is a really important thing. Most people ...

At least this is my opinion (end rant ) Start weekend

Mike
thank you Mike, you're an amazing guy and a true inspiration'
  • #73,810
  • Sep 2, 2010 10:37pm Sep 2, 2010 10:37pm
Quoting joelcf
Gee, 30%pa? What a scam. I want a refund for the free information in this thread. Jim has clearly misled me with that line in the first post where he said 'Turn your $1000 into millions overnight!'

Exactly how else were you planning to 'make a living' with your thousand bucks? I imagine it involves ebooks and EAs.



You are way too nice - what happened to the whole 'angry New Yorker' stereotype?!
Forget forex. Look at where you are right now. Going along on this same path where will you be in 10 or 20 years? Now add forex (James 16 method). Do you see the difference in the possibilities?
  • #73,811
  • Sep 2, 2010 10:41pm Sep 2, 2010 10:41pm
Quoting slade1986
Go Buckeyes!!!
Don't you love how these schools schedule games with teams that give them an added confidence boost at the beginning of the year. I'm a Buckeye fan too
  • #73,812
  • Sep 2, 2010 10:56pm Sep 2, 2010 10:56pm
Quoting mbqb11
small rant coming

This isn't really the point of his meaning you need a big account. You need a big account mentality or a mentality that what you are doing matters. If you could take 2-3 trades a month and make a nice return why would you waste your time with crappy trades. This is a really important thing. Most people know when they are taking the good ones, but can't help themselves on the bad ones. Or they see their up 50$ and say who cares its 50$ maybe I can hold it till its 500. Then they are down another loss. If you have that large account...

Hi Mike,

I do not disagree with the above, however, In one of his fx screenshots James did make note of the fact, that in reality, those that make money long term usually do start out very well capitalized.

There are so many that it is hard to track down, however, if I remember correctly it can be found in one of the summary posts on the first page of this thread. (yes, right now I am too lazy too look for it. )

fxt
  • #73,813
  • Sep 2, 2010 10:58pm Sep 2, 2010 10:58pm
Quoting fxterrapin
Hi Mike,

I do not disagree with the above, however, In one of his fx screenshots James did make note of the fact, that in reality, those that make money long term usually do start out very well capitalized.

There are so many that it is hard to track down, however, if I remember correctly it can be found in one of the summary posts on the first page of this thread. (yes, right now I am too lazy too look for it. )

fxt
Hey FXT

Sorry I should have clarified that I wasn't doubting James said that. But was just pointing out the fact that it is the mentality that is ultimately the defining factor. People blow their 100k accounts daily too.

My fault on the confusion

Mike
  • #73,814
  • Sep 2, 2010 11:23pm Sep 2, 2010 11:23pm
Quoting fxterrapin
Hi Mike,

I do not disagree with the above, however, In one of his fx screenshots James did make note of the fact, that in reality, those that make money long term usually do start out very well capitalized.

There are so many that it is hard to track down, however, if I remember correctly it can be found in one of the summary posts on the first page of this thread. (yes, right now I am too lazy too look for it. )

fxt
Money is just part of the equation. You have to know what your doing also. One possibility: Start with a $1000 and learn your trade. Practice for 5 years (or 10) and prove that you can constantly earn a profit. During that 5 years add a couple of bucks here and there to help compound the growth. At the end of 5 years (or 10) analise your progress. Lets says your doing good and now have $10,000 in your account. For the next 5 years save as much as you can toward this account. Sell a whole life policy, reduce your 401K contributions, sell a kidney on the black market , what ever it takes. What could your account be now? Point is we all can come up with the money. But at this point in your career could you keep it? We know its going to take time, so don't stress out about the money quite yet.
  • #73,815
  • Edited 11:59pm Sep 2, 2010 11:41pm | Edited 11:59pm
AUD/USD H4 BEOB in the making.

Bearish div on H4 Weekly PPZ & RN.


I would like to see this close below the TL and the 0.968 daily PPZ.

EDIT: Thinking about this, there is a daily PB sitting right on that TL and maybe a weekly one in the making.
PA seems pretty small to counter thus uptrend and the BEOB only encompasses a single bar.

IF, I take it the FTA is 0.9043
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  • #73,816
  • Sep 2, 2010 11:43pm Sep 2, 2010 11:43pm
Quoting spookie94
Forget forex. Look at where you are right now.
Not in an Aston Martin.

Quoting spookie94
Going along on this same path where will you be in 10 or 20 years?
In an Aston Martin.

Quoting spookie94
Now add forex (James 16 method). Do you see the difference in the possibilities?
In an Aston Martin. With Kate Beckinsale. On the god damn moon.

...

Closed AUDUSD, tightened up stops on everything bar EURCHF shorts, put in a line of sell stops there to build my positions in case the SNB decides that a quiet market is a dumpable market.... Have a good weekend all
When you have to shoot, shoot. Dont talk.
  • #73,817
  • Sep 3, 2010 12:36am Sep 3, 2010 12:36am
Took it.
I shall manage it tightly.
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  • #73,818
  • Sep 3, 2010 12:52am Sep 3, 2010 12:52am
Quoting Pinbar
Took it.
I shall manage it tightly.
So you are eying quick 20 pips. I can see this trade is right in the area where a sudden reaction can happen anytime.

Pretty dangerous one. Good luck!
  • #73,819
  • Edited 1:27am Sep 3, 2010 12:56am | Edited 1:27am
Quoting The Lord
So you are eying quick 20 pips. I can see this trade is right in the area where a sudden reaction can happen anytime.

Pretty dangerous one. Good luck!

Actually, I am thinking it could go down to 0.9011.

It did actually already test the previous bar low and I think it will hold as resistance.


M15 is showing bearish BEOBs at the support areas.
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  • #73,820
  • Sep 3, 2010 1:31am Sep 3, 2010 1:31am
Hey guys been following for a while first post.

Question with regards to inside bars and how you trade them j16.
I previously would be trading the break of the marked bar but just wanted to check if thats the j16 way to do it.

Just wondering what break I should be looking to trade, is it the bear bar marked or the bullish bar before?

Also say the current bar closed as is from my understanding that would be classed 2ib. I would be looking to trade a break of which bar then?
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