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James16 is not credible

  • #401
  • Sep 9, 2010 8:10pm Sep 9, 2010 8:10pm
Leave the guy alone already, its not like he is swindling people out of their hardearned money like Jacko. He offers some key elements to trading that people can benefit from, and I personally enjoy his thread.. lots of hardcore guys that are straight to the point, and usually advanced and help eachother out.

Whether he is trading and making a killing, or making money purley on his services.. Don't fuck with a mans wellbeing and how he puts food on the table.

Leave him alone.. jeez. Good for him, im happy for him regardless.
lowest draw down possible please.
  • #402
  • Edited 8:48pm Sep 9, 2010 8:36pm | Edited 8:48pm
Quoting wwwin
On the daily it may depend on the time zone, but not on the 4h or lower time frames...also, the pin is also named something else in candlesticks, and also a pin with heavy volume at the low of a trend is also known as a selling climax, let's say by John Murphy or the likes. Are you saying that pins don't work or are you saying that technicall analysis in general does not work?
I think pins & TA are not sufficient to safely point the direction of the move. It will get better result if it is viewed in light of the market sentiment and economic fundamentals. Say when the Euro had the PIGS problem, it is not really safe to long the currency does not matter what the 5 minutes say in pin bars. For scalpers perhaps it is ok, but not if you are swing trader. Similarly when the subprime problem hit, I would short USD at any rally failures at resistance levels formed by either past tops, trend line, major fib level, round 00 etc, and the presence of any pin bars or TA confirmation at those rally tops will be more welcome but not absolutely necessary. When GBP was hit with the news of first GDP contraction in 30 years, stand out of the way of any pin bars which suggest long. News like that will power moves 1000 pips down. Trying to trade against these moves within the first 400 pips down is trading capital suicide, doesn't matter how tempting the pin bars are. Even oversold RSI hourly or daily studies will be ignored. Would I short CAD when oil was on its way up to $150/barrel (which was powered by the hype of China/India growing need for oil)? Not likely as CAD is an oil based currency. I would rather look for pin bars or TA which favours a long position for CAD. This way, you will have more big winners and small losers. So trade with total picture in mind is better than just the chart.
  • #403
  • Sep 9, 2010 8:48pm Sep 9, 2010 8:48pm
1) I have noticed that mr smith signed up in 2005 yet up to this post, 75 of his 267 posts (28%) were made in this thread which is only a few days old. I wonder why you would be defending J16 so much especially after so many years?

2) I skimmed the J16 thread, it has 1862 pages (40 posts per page), I used the options presented on the page and skimmed through every 50th page, it seems like turnover in people is no different than other threads such as the jacko, eurusd thread, cable thread, etc. here at forex factory. If the tools presented were of substantial value, you would think more people would be retained and post in the thread.

3) This is somewhat entertaining of a thread, at least some rational people are asking some key questions, which should be asked of ALL commercial members on this forum and of 'gurus' outside of this forum before services are provided. The industry plays on the 'hope' of people.
  • #404
  • Sep 9, 2010 8:51pm Sep 9, 2010 8:51pm
I'm willing to teach!..
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lowest draw down possible please.
  • #405
  • Sep 9, 2010 8:55pm Sep 9, 2010 8:55pm
Swell thread. It all comes back to me why I don't poke in here often any more.
I'm pretty much done with all this ...
  • #406
  • Sep 9, 2010 8:56pm Sep 9, 2010 8:56pm
... and why all the invisibles on this thread below? Weirdos.
I'm pretty much done with all this ...
  • #407
  • Sep 9, 2010 9:03pm Sep 9, 2010 9:03pm
Quoting ehrek
I'm willing to teach!..

No hard SL?
  • #408
  • Sep 9, 2010 9:11pm Sep 9, 2010 9:11pm
Quoting Slack
No hard SL?
Pfff, SL's are for girls that trade in the wrong direction!!!
lowest draw down possible please.
  • #409
  • Sep 9, 2010 9:13pm Sep 9, 2010 9:13pm
Quoting ehrek
Pfff, SL's are for girls that trade in the wrong direction!!!
Thanks, that cleared it up.

(next hack up to bat)
  • #410
  • Sep 9, 2010 9:15pm Sep 9, 2010 9:15pm
Quoting Slack
Thanks, that cleared it up.

(next hack up to bat)
1.28644 btw

Can you tell why i entered there @ 1.28885.. ?
lowest draw down possible please.
  • #411
  • Sep 9, 2010 9:21pm Sep 9, 2010 9:21pm
I'm new here but I have traded money for people for 3 years.

If ANYONE asked for my statements I would just show them.

There is absolutely no reason in the world not to.
  • #412
  • Sep 9, 2010 9:31pm Sep 9, 2010 9:31pm
Quoting ehrek
1.28644 btw

Can you tell why i entered there @ 1.28885.. ?
What is your broker's time so I can look it up on my chart?
  • #413
  • Edited 10:20pm Sep 9, 2010 10:11pm | Edited 10:20pm
Quoting ehrek
1.28644 btw

Can you tell why i entered there @ 1.28885.. ?
OOOhhhh! OOOOhhhh!

I know! Can I guess? can I huh? can I?

I don't know if the feed is the same but had I seen that today I would have been all over it.

We are talking James16 style right?

OPPS damn I was looking at the wrong pair.
  • #414
  • Sep 9, 2010 10:15pm Sep 9, 2010 10:15pm
Quoting Standard Oil
I'm new here but I have traded money for people for 3 years.

If ANYONE asked for my statements I would just show them.

There is absolutely no reason in the world not to.
Difference is, he isn't managing peoples money. He trades for himeself. This is about an educational site.
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #415
  • Sep 9, 2010 10:17pm Sep 9, 2010 10:17pm
Of course it is best to integrate both because fundamentals and TA are intertwined, my question was whether he was discounting TA altogether. By the way, I would never trade based on the 5 min chart, even if I wanted to scalp. 1h is the smallest I care about.

Quoting fxbillie
I think pins & TA are not sufficient to safely point the direction of the move. It will get better result if it is viewed in light of the market sentiment and economic fundamentals. Say when the Euro had the PIGS problem, it is not really safe to long the currency does not matter what the 5 minutes say in pin bars. For scalpers perhaps it is ok, but not if you are swing trader. Similarly when the subprime problem hit, I would short USD at any rally failures at resistance levels formed by either past tops, trend line, major fib level, round 00 etc,...
  • #416
  • Sep 9, 2010 10:20pm Sep 9, 2010 10:20pm
Quoting Slack
What is your broker's time so I can look it up on my chart?
i checked my chart.
my guess is it was a trade made 3hours ago.
  • #417
  • Sep 9, 2010 10:24pm Sep 9, 2010 10:24pm
Quoting ehrek
1.28644 btw

Can you tell why i entered there @ 1.28885.. ?
Alright, there's a 25 min window to enter at the price you did. This will show diversity in trade methods assuming same entry and exit. I believe my method has a much lower risk profile.

I'm only guessing you entered based on prior support level (~2874) holding and a decent chance of a breakout of resistance (~2888). Additionally, there was a recent HH + HL which could've added to your confidence. SL placed behind last significant fractal / suuport with a few extra pips for good measure... or was it lack of confidence?

Excellent entry and exit. You got nearly 100% of the move / trend (based on 5m TF). I would give the trade a D grade for the following:

 

  1. SL was soft, which is bad business practice. It shows a lack of confidence or worse, paranoia.
  2. SL was huge, although the R:R was good on paper -- target can never be assumed/counted on, IMHO.
  3. My method has a hard 10 pip SL and is based on price moving into a volatility channel. No S&R is considered; neither is TF or candle formation. 10 pips might be a little tight for this pair, so I would need to evaluate a little more.

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  • #418
  • Sep 9, 2010 10:27pm Sep 9, 2010 10:27pm
Quoting ehrek
1.28644 btw

Can you tell why i entered there @ 1.28885.. ?
breakout of contracting triangle and close to trendline support...but hope you took the profits, you are down to 2 pips right now
  • #419
  • Sep 9, 2010 10:33pm Sep 9, 2010 10:33pm
Quoting fxbillie
I think pins & TA are not sufficient to safely point the direction of the move. It will get better result if it is viewed in light of the market sentiment and economic fundamentals...
When GBP was hit with the news of first GDP contraction in 30 years, stand out of the way of any pin bars which suggest long...
i agree with some of your points.
but there has been no mention of 'take every pinbar that u see on the chart'.. or 'take every TA signal'

also, my view is fundamentals & market sentiment, often/always are built-in/priced in in the price u see on the charts. price sometimes/often even 'shows ominous signs or results of' &/or 'foretell' upcoming fundamentals, news &/or market sentiment.
news seems to be rigged, used as another medium to influence & control the masses.... as u might already know.

another point.
within a strong trend, there are mini trends/counter trends. some people 'scalp' those mini trends. (that is not to say that all those 'scalpers' are profitable)
so a bullish pinbar in a bearish GBP environment is not necessarily a losing proposition. it's a matter of perspective.
  • #420
  • Sep 9, 2010 10:38pm Sep 9, 2010 10:38pm
Quoting wwwin
breakout of contracting triangle and close to trendline support...but hope you took the profits, you are down to 2 pips right now
Yes, he took the profit close to the highest possible point @1.29397 as shown on his single-trade statement. This trade earned full marks. Well done ehrek! And I think yes, this one is his breakout-style trade.
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