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James16 is not credible

  • #421
  • Sep 9, 2010 10:38pm Sep 9, 2010 10:38pm
Quoting Slack
Alright...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.
whether or not u use BB's with your method, i believe u are aware that price makes whipsaws which can always hit your 10pip SL.
yes, 10pips is a bit tight. (but often it depends on timeframe, price environment etc)

Quote
SL was soft, which is bad business practice. It shows a lack of confidence or worse, paranoia.
what do u mean by 'soft'?
some people trade with as minimal SL as they can... & it works.
lack of confidence? bad business practice? i think, on the contrary, it was a confident trade. some people trade with 100's of pips SL.
like u said, diversity in trading methods. & again, perspective.

just my view
  • #422
  • Sep 9, 2010 10:44pm Sep 9, 2010 10:44pm
Quoting supremeChaos
whether or not u use BB's with your method, i believe u are aware that price makes whipsaws which can always hit your 10pip SL.
yes, 10pips is a bit tight. (but often it depends on timeframe, price environment etc)
just my view
This might sound crazy, but my SL are placed in order for them to be hit. Loses are as important to me as the wins. Took me 3 years to get here.
  • #423
  • Sep 9, 2010 10:44pm Sep 9, 2010 10:44pm
Quoting kk007
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!
Can't tell just from the statement, the second price is the current market price if the trade is still open, or the close price if closed. Can't tell if this is a Trade window or a history window, as he cropped out that part of the terminal.
  • #424
  • Sep 9, 2010 10:47pm Sep 9, 2010 10:47pm
Quoting supremeChaos
what do u mean by 'soft'?
Mental, not part of the broker order.
  • #425
  • Sep 9, 2010 10:47pm Sep 9, 2010 10:47pm
Quoting Slack
This might sound crazy, but my SL are placed in order for them to be hit. Loses are as important to me as the wins. Took me 3 years to get here.
no it doesnt.
  • #426
  • Sep 9, 2010 10:49pm Sep 9, 2010 10:49pm
Quoting wwwin
Can't tell just from the statement, the second price is the current market price if the trade is still open, or the close price if closed.
Ok. It is possible, but it seems more sensible to expect the presentation of a statement after position closed.
  • #427
  • Sep 9, 2010 10:52pm Sep 9, 2010 10:52pm
Quoting kk007
Ok. It is possible, but it seems more sensible to expect the presentation of a statement after position closed.
Actually it appears to be a MT4 statement, therefore, it is the Trade window, which is an open trade, cause if it were the History window, there would be a time also right before the close price....be carefull LOL
  • #428
  • Sep 9, 2010 10:52pm Sep 9, 2010 10:52pm
Quoting wwwin
Actually it appears to be a MT4 statement, therefore, it is the Trade window, which is an open trade, cause if it were the History window, there would be a time also right before the close price....be carefull LOL
True. Thanks
  • #429
  • Sep 10, 2010 12:18am Sep 10, 2010 12:18am
Quoting wwwin
On the daily it may depend on the time zone, but not on the 4h or lower time frames...
The 4H would still suffer from the same non-uniformity as not every MT4 broker uses a 2100 GMT daily cycle close.

Quote
Are you saying that pins don't work or are you saying that technicall analysis in general does not work?
The former, though that's mostly agreeing with others in this thread, I haven't done my own back/forward testing to make a conclusive determination. I'm not sure what the other rules of this method are, i.e. "if pin bar exists on x timeframe, enter at y, exit at z...". If those other variables are in any way arbitrary, then it can't be systematically tested.

(hat tip #3 - mentors often use slightly arbitrary entry/exit rules so that the method can't be systematically confirmed with a rigorous back/forward test)
  • #430
  • Sep 10, 2010 12:27am Sep 10, 2010 12:27am
hi KGB,
May i have the link to the RenTec edge short list?
cheers,

Quoting Trader KGB
The 4H would still suffer from the same non-uniformity as not every MT4 broker uses a 2100 GMT daily cycle close....
  • #431
  • Sep 10, 2010 1:16am Sep 10, 2010 1:16am
Quoting kk007
hi KGB,
May i have the link to the RenTec edge short list?
cheers,
http://tinyurl.com/3axsqvc
  • #432
  • Sep 10, 2010 1:24am Sep 10, 2010 1:24am
Quoting thesnacker
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?

d 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.
The reason is I was busy studying, I become successful from james, see this trash thread, and it pissed me off!
So I decided to get involved.

Or maybe I'm p art of a big conspiracy.
  • #433
  • Edited 1:55am Sep 10, 2010 1:41am | Edited 1:55am
Quoting Trader KGB
The 4H would still suffer from the same non-uniformity as not every MT4 broker uses a 2100 GMT daily cycle close.



(hat tip #3 - mentors often use slightly arbitrary entry/exit rules so that the method can't be systematically confirmed with a rigorous back/forward test)
Actually, there is no set of rules you can go and back test, you have to come up with those rules yourself. There is no systematic set of rules, so your right, you cannot go and do that, if you want to know what they teach, you'll just have to go study.

The only method taught from what I hear that has more set rules, is from diallist and maybe one other teacher in the pf.

But the core j16 stuff doesn't have a set of rules you can go back test with, also most of the teachers do it all a bit differently, mike trades quite different to james in many ways, but similar core.

Some j16 traders like to take profit quick, some like to let them run for the larger moves. Some move stops up quick, some use tighter stops, like stop below left eye of pin etc etc. Jarroo has some cool smaller stop type setups he does.

Bottom line, james gives different info, and it's up to the trader what suits there personality.

But he does show how he prefers, and how he trades.

This all might sound confusing, if you want a clearer response go ask mike, he's good at explaining.
  • #434
  • Sep 10, 2010 2:04am Sep 10, 2010 2:04am
Quoting Mr Smith
The reason is I was busy studying, I become successful from james, see this trash thread, and it pissed me off!
So I decided to get involved.

Or maybe I'm p art of a big conspiracy.
Or maybe your are just another paid member. And you do your job well my friend.
  • #435
  • Sep 10, 2010 2:08am Sep 10, 2010 2:08am
For the discussion between TraderKGB, wwwin and supremeChaos regarding the relevance of pin bars and time frames, you may find my post here helps explain at least my opinion on the subject:

http://www.forexfactory.com/showpost...7&postcount=10

It talks about candles but is obviously equally relevant to bars as well (including pin bars). But we should probably now be on a different thread for this topic, as this one seems to have run it's course in to the ground.
  • #436
  • Sep 10, 2010 2:11am Sep 10, 2010 2:11am
Quoting supremeChaos
i get your point, Sir.

im interested in this.
what are your top 10 trading books that cost only $129 total? (assume it's not free on the internet)
is this your personal experience?
Thanks!

btw, $129 books, new or used? bought off a store or delivered?
ok, let's do the math:

1.http://amzn.to/8ZsezJ 3 books, $41
2.http://amzn.to/b5qG9K 1 book, $31
3. http://amzn.to/aQRs14 1 book, $44
4. http://amzn.to/aLfLBW 1 book, $15

All books are new, total cost: $131, free shipping for US customers

Now, who cand keep a straight face and say that a month of j16 pf is as valuable as these 6 books ?
The worst thing I can be is the same as everybody else. I hate that.
  • #437
  • Sep 10, 2010 2:15am Sep 10, 2010 2:15am
Quoting alter
Or maybe your are just another paid member. And you do your job well my friend.
Yea, you'll never know will you.

But after you see my live trades thread, then you'll know at least I can trade.

Actually the teachers I've learnt from on the free site, are all quite classy, I'm not that way, I don't mind calling people names if I think there morons etc.

Yea, this is what I get paid for, to advertise the free j16 thread, so all you newbs go over to the free thread and get scammed by all that great free info.

After you learn alot and spend time with all the great teachers over there, who help you out for free, make sure you warn everyone there a bunch of scammers who just want you to go join the pf, so they can scam all your money.

Becareful on the free thread as they'll keep telling you that to learn the good stuff you need to pay them.

Actually in post one, james states it real clear, this is a taste of the pf, but don't expect to learn shit here, this is just to suck you into the pf so he can rip you off for $129

Excuse all the bad sarcasm here guys, I'm not to good at it I know.

Would any of you like to know how much I just got paid for writing this.
  • #438
  • Sep 10, 2010 2:16am Sep 10, 2010 2:16am
Quoting GubyIQ
ok, let's do the math:

1.http://amzn.to/8ZsezJ 3 books, $41
2.http://amzn.to/b5qG9K 1 book, $31
3. http://amzn.to/aQRs14 1 book, $44
4. http://amzn.to/aLfLBW 1 book, $15

All books are new, total cost: $131

Now, who cand keep a straight face and say that a month of j16 pf is as valuable as these 6 books ?
Do those books come with instructors to help you understand them?
  • #439
  • Sep 10, 2010 2:19am Sep 10, 2010 2:19am
Quoting Mr Smith
Do those books come with instructors to help you understand them?
Sounds like this one might be more up your alley:

http://www.freeebooksblog.com/images...fordummies.jpg
  • #440
  • Sep 10, 2010 2:22am Sep 10, 2010 2:22am
So your trying to say, reading those books will make you a good trader, maybe some can learn from them, but alot will get lost real fast in those books, including me, just shows how good pa trading really is, even dumb asses like me can do it.
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