James16 is not credible

Yes, you are right. But their quantitative models don't use a silly pinbar pattern. And they also feed their models with other non-price-chart factors. Those who don't, bleed money and this assets class "survive" on the long term with the "help" of survivorship bias. At least this is what I saw from my research. Maybe I'm wrong, but for me, it works.

and where do you recommend people to learn?

J16 made that easily possible for me, now where do you guys suggest us newbs learn when we start, j16 offers good help for newbs, for free. Now show me some other people doing that, that actually take time, and have mutiple people helping you along the way for free.

hey moron have you ever back tested pinbars the way james teaches them?

If you find yourself into a hole, stop digging.

I see that you are member here since 2005. After 5 years you are still at this level of experience? I hope that you registered on 2005 and forget about trading, you didn't studied the markets and in 2010 you came back and started to give this type of advice. Or a second explanation would be that you are not smart enough. Sorry for you but don't deceive others people that it works. It's pure BS!


"hey moron have you ever back tested pinbars the way james teaches them?"
Dear Smith, I don't want to offend you, just help, but if you are so brainless ... sry.

That's all folks. Logged out. One last advice: if someone ask from you money to learn you how to trade... don't turn back and walk, instead turn back and run! (if you don't follow it, it's you who suffer, not me)

Fact is like I keep saying, j16 DOES indeed help unprofitable traders out of there slump.

And many of them he helps for free.

Again I keep asking the people on this thread that want him to stop helping people, where is some good material to learn from, where are the people that will help learn this material for free?

Show me somethings guys!

more fundamentalists trading the market is a good thing. that means that our pinbars will work as well as they did in the past.

Why not post your backtest methodology and results, and then we can have a rational discussion.

What the hell are you talking about, I started trading in 2005, since 2008 I've been successful, and it's going very strong.

Why don't advise where someone should learn, I know a good place to start and where I learnt everything, j16 free thread, now why don't you add to that, and give others another place people will help you for free, instead of just trying to shut down a good freer place to learn.

if a set up works 50/50 then you do have an edge...if you follow sensible MM.You can make money with set ups that work much less than that.
But back to pins.
First not all pins etc are equal...read Pring...myself i dont like him much but he is a basic text and he will explain when a PA isnt safe to follow and when the probabilities are in you favour....and that, for me anyway, is what trading is all about. Probabilities.
J16...Im not a member of his clique/group etc so am not defending him through loyalty ..to my knowledge he doesnt advise to follow all and any pin.He has quite detailed free info on pins in his thread.He does not suggest to trade any pin that comes along but explains when it is safe or safer to trust that particular set up and when it is not.
I may be mistaken but it is my understanding that J16 preaches that any PA should be confirmed by " confluence" so any stat study trading pins whenever they occur is not relevant to his method.or any method for that matter ..in my opinion
One of the big failings with FF and sites like them is they are full of people who think they can write a program that will run while they sit back and bank the cash.they think that markets can be analyzed mathematically.If they could they would have been hundreds of years ago.You cannot, in my opinion , become a successful trader without doing the work...no more than you can become a doctor or lawyer without the training.
There is no short cut.
like it or not it seems to me that most successful traders seem to apply experience and discretion...and that takes work and effort to gain that knowledge.
To sum up I think someone who is looking like someone who posted recently to find a math/stat answer to to market movements or to prove/disprove someones method is , and there is no kind way to say this , either mistaken, dishonest or a fool.thats not meant to be a personal sleight.what im saying is just because you think you are clever doesnt mean you dont have to do the work!
Not sure what is happening here but there seems to be a very aggressive PR campaign/s waged against some established FF names...ok maybe some are more justified than others! ....
There is a saying that there are many ways to skin a cat...there are also many ways to trade forex successfully .
So when someone rants against an otherwise established authority alarm bells go off for me.
there is marketing and there is abuse.
it seems abuse is getting a free reign in the commercial section at least.
Anyone who has to resort to that to gain an edge seems to me to be displaying signs of desperation...
Finally if you you do not like/trust someones thread dont subscribe or read it.Go somewhere else . Too many good threads are full of rants and nonesense which makes reading them a a major project and spoils an otherwise useful resource for others....
having said that...my rant is over

Have any of you more level headed people on here like trader kgb etc had a conversation with mike or jaroo? Have any of you seen the trading help they give? If you haven't I suggest you go do that before continuing to try and stop what they do, fact is, they help james teach so many people for free, and y ou guys think that would be a good thing?

This is what the ts wants, to shut down james, and people supporting this thread is supporting that idea, I don't see any of you people helping people like mike and jaroo and james do.

Examples of pins that give you a good edge.

When you see pins like these, they very very rarely fail.

Low on kiwi and cad, and the high on pound.

Mix this with many other things taught and you get a very good edge in the market.

Most sensible post on this thread and fits in 100% with my viewpoint

http://www.cslacker.com/images/file/...s_gon_hate.jpg

So where are these backtest results ?

If you want, you can have a demo oanda account get triggered by my account or, I've started a myfxbook account triggered by oanda, or I can put live trades somewhere else you want? I dont' trade each pinbar exactly the same each time. So live forward testing is the best bet to show how I trade.

I could scroll back through charts and find pinbars that did not work too. Easy in hindsight.

Pinbars can work but need to agree with other factors, ie, s+r, 00 numbers, even 50 fib.

This is what I use and they are bits and pieces from Jacko, BRV and J16. I make profit pretty much every week although I work full time and trade for a little extra on the side.

The only person I have come across who really gives advise for free is BRV (Steve) who now run the nobrainertrades website and is a site I highly recommend.

lol...No, not at all..

I'm wrong more times, than I'm right...
You don't want to follow wrong... !

Oh dear, I fear I am making a hideous mistake getting involved in a thread like this, but here goes.....

First off, I am neither strongly for or against the James from the James16 thread or paid forum. I stayed well away from the thread when I realised it was all based on an arbitrary and insignificant shape plotted on a chart that will look completely different on every other traders platform depending on what time frame and time zone they are located in.

The obvious irrelevance of the pin bar as having any statistical advantage aside, I will try to post some points on both sides of the argument.

First of all, is he a scammer as claimed by the opening post? I highly doubt it based on what I can see, and there is certainly no real evidence to support such a claim. It seems to me that James is offering to teach people "his" way of trading and "his" interpretation of the market. Is he running a ponzi scheme? Is he taking other peoples money and then not delivering the promised service? It seems to me he is offering to teach his method and support other people while they learn his method, and he's delivering exactly that. So I personally can't see how that's a scam. Whether people agree with paid forex training or not, I think it is a bit much to call someone a scam in this situation, but that's my interpretation of a scam....I tend to think of then more in terms of outright theft or some other clearly definable illegal crime and I can't see James doing that at this time.

Is his service of any value to becoming a successful trader? It could very well be. If he claims that a pin bar has a statistical advantage, I would say he's talking nonsense and immediately hints to me that he is actually highly inexperienced at trading. I challenge anyone here or anywhere else in the world to take every single pin bar on any chart and give it a 1:1 TP and SL, and show me hard proof that the market is more likely to go one way rather than the other. BUT.... if he's saying you can use a pin bar as a reason to enter the market in either direction, and then learn to discipline to let the winners run and cut the losers short, well that as far as I'm concerned is as good a method as any other to make money over the long term. So people can become profitable using his pin bar for entry. It just depends on how he teaches use of the pin bar and also on the individual using his teachings.

His service could even be of value if the student following his wisdom investigates the method and realises it's complete nonsense. One way to success is to find and rule out all the unprofitable methods until eventually you're left with a winner. If you can add the J16 method to the list of unprofitable strategies, then you are one step closer to becoming a profitable trader. You could very well view that lesson as well worth the monthly membership fee.

Whether James views his forum as a hobby or a business, is a matter of perspective. Someone here pointed out that James is potentially making close to $1Million per year from the forum, and clearly for most people that amount of money is anything but hobby money. But that is from your perspective. Let's assume James really is a successful trader. In that case, I would venture that actually $1Million per year really is hobby money. He could very well be making $100Million or even significantly more per year from trading, and the forum money is nothing more than a nice new car each year and a nice summer vacation. When your living in the world of the super rich, $1Million is nothing and does not go very far. I used to work for someone that spent €2Million every week on complete crap. I've just come back from the South of France where I stayed with a friend who's bill for his 4 week vacation totalled €1.5Million. This is hobby money to a lot of people, so James could well be in that league if he is as successful as he claims. So let's try to keep this in perspective. Just because it's a lot of money to you, does not mean it even registers as more than pocket change for someone else.

Also, how much time and effort does he dedicate to the paid forum. If he is on there answering questions all day every day, I would side with the argument that it is far more likely to be his sole business and source of income, and he is not a trader (at any significant level at least). But what if he is only on the forum once per week, once per month? I'd hardly say that is full time, and much more likely to be something he views as a hobby. Again, it's about perspective and facts. I don't know how much time he dedicates to the forum so can't say an opinion either way, but it's an issue people should consider before making accusations.

I have to admit I will always tend to side with the argument that anyone charging such a low fee to mentor people in trading, is very likely an unsuccessful trader and actually make their living from "teaching" other people how to trade rather than getting on with trading themselves. It does seem ludicrous to me that anyone making hundreds of millions or even as little as tens of millions each year from trading, would ever waste their time trying to help strangers on the net. Especially when you consider that most people will fail at anything they try (not just trading). But that's because of my personality and nature and how I view the prospect of teaching other people. I couldn't think of anything more frustrating and time wasting. No amount of money in the world could persuade me to take time out of making my own money from the limitless pot which is forex, to show someone else how to do it....especially strangers. But again it's perspective. James could genuinely be an altruistic person. He may even be an egomaniac who thrives on having a band of doting worshippers kissing his ass. There could be any number of legitimate reasons why someone would want to help other people. Just because I wouldn't want to, doesn't mean he wouldn't. What about people who dedicate their lives to various charities...are they plotting some terrible scam? We are not all the same and do not all have the same motives. Let's try to remember that.

If we are going to accuse someone of being a scam, let's have some evidence. As pointed out before, the responsibility of evidence is with the accuser. Saying his paid service is a waste of time and money because his method has no statistical advantage is one thing. Advising new traders that they are unlikely to learn anything of real value from such a mediocre regurgitated method, may be fair enough. But an out right scam shouted with such venom? Is that true?

I think a constructive argument with facts, common sense, and a bit of adult behaviour would be much more likely to help people make informed decisions for themselves. A full on heated and angry exchange as so often happens here, does nothing but force people in to two uncompromising, entrenched and fanatical camps where neither side is willing to back down under any circumstance.

Actually do that, scroll back and show me extended nice looking pins that fail, and post them here, for every 1 you find that fail, you'll find about 9 that win.

....sigh.... after reading all of that i thought you were going to post his actual trading statements. Amazing how many sock puppets james must have posting all sorts of nonsense. Everything but the one thing he must present: his actual trading statements.