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Credible brokers? 31 replies

What makes a track record credible for Trading Firms? 0 replies

any credible broker with credit/card deposit in euro? 4 replies

Attachments: James16 is not credible
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James16 is not credible

Quoting supremeChaos
so u failed even after u joined it?
did u not learn anything?
are u complaining? i ask because im not sure what your stance is. u seem to be half-hearted with your posts.
u seem to be attacking J16 et.al. because u failed/failed to learn.
maybe u can enlighten us.

do u have proof of what u are saying here? do u have personal communication with Sir PeterFM?
It was not me who mentione PeterFM first, u should read whole thread. No I dont have evidence, Im suprice that u need evidence right now and u dont want evidence from James, funny isnt it?

I also mentioned that I lost couple of thousands with this method 2 years ago so what Im saying is to warn new traders to be lured into the trap just because of sophisticated marketing and PR (without evidence). ITs fair isnt it?
Quoting Interceptor
I don't know why the Mods at FF don't just bring to bear a far higher level of scrutiny for all potential thread starters in the Commercial Forum.
I was thinking about this, too, but now that I think about it, he's (Twee) actually doing the right thing. The heavier hand he uses, the greater his liability. The mods/senior members that are banning people are opening him up for possible legal challenges down the road if someone really wanted to get nasty -- you banned this person here, but not this one here type of thing. Best to post the disclaimers, which he's done, and let it fly.
Quoting alter
It was not me who mentioned PeterFM first, u should read whole thread. No I dont have evidence, Im suprice that u need evidence right now and u dont want evidence from James, funny isnt it?
I also mentioned that I lost couple of thousands with this method 2 years ago...
LOL.
im not a J16 PF member.
i was not scammed.
i have no complaints.
so why would i demand trading proof of excellence from James or anyone else?
LOL

so u have no evidence whatsoever about PeterFM, u just heard someone mention him so u paraphrased. cool. u are simply full of it.

btw, if u lost money in the markets, doesnt mean all will fail & whine like u too.
be responsible of your actions, mistakes & ignorance, dont just point fingers.

Good luck alter.
@supremeChaos

I won't argue on this point anymore. if you get them all used, and paperbacks instead of hadcover (where available), you can save enough for another 4 books, also used edition, like these: 1. http://amzn.to/bE5VW8
2. http://amzn.to/aXokZA
3. http://amzn.to/bxs88i
4.http://amzn.to/azjljB

Go read these 10 books, and then if you still consider throwing away $129, go ahead and make and informed comparison.
But I'm positive that anyone who's read and understood half the books i presented, would cringe at the thought of giving $129 to a guy, just because he says he's profitable and can teach you too.
The worst thing I can be is the same as everybody else. I hate that.
Quoting GubyIQ
@supremeChaos

I won't argue on this point anymore. if you get them all used, and paperbacks instead of hadcover (where available), you can save enough for another 4 books, also used edition, like these: 1. http://amzn.to/bE5VW8
2. http://amzn.to/aXokZA
3. http://amzn.to/bxs88i
4.http://amzn.to/azjljB

Go read these 10 books, and then if you still consider throwing away $129, go ahead and make and informed comparison.
Do they have pictures... I like pictures
Quoting supremeChaos
btw, if u lost money in the markets, doesnt mean all will fail & whine like u too.
be responsible of your actions, mistakes & ignorance, dont just point fingers.

Good luck alter.
Sure u can mock me.
Actually it is Jamas16 school what u are saying.... IF "studen" succeeds (if there is one) its because of great info, thread, and teaching. If he doesnt its his fault as he is not responsible etc.... What do u want to prove with this attitude?
Am I the only one getting confused here?? The title is "James16 is not credible". The premise of the title is that he is not a successful trader, hence he should not offer an education service.

I don't know about others, but if someone came and told me I am a shit pharmacist, then I would ask them, ok, you show me how. Not that I am going to show you that I am not. Present the facts about what I am doing wrong, not what I am not doing right.

I had nearly 40 different lectureres during my course. NOt one of them was a pharmacist in the sense of real world. Yes, education wise, they had a degree next to their name, but did that mean that they were a scam, because they were teaching me without actually having ever worked in a pharmacy themselves? Are the lecturers in an accounting class all scammers because they actually haven't worked in PriceWater House Coopers, but are teaching all these fresh out of high school students the theory of supply and demand and yield curve?

Forex is such that everything that does not work for everyone. Somethings work for some people.

This will be my last post here, only because it is my view the title question is based more on a witch hunt and mud slinging by someone who has been emotionally affected by whatever has transpired in Jacko's thread.

If James was to offer a managed fund in the future (which I seriously doubt he will), then of course it should be each and every person's right to ask for verifiable account statements. Until such time, this thread is a waste of time, and a post made by a fellow trader is probably the best post here - close your internet browser and start looking at charts.

Regards,
K.
Quoting onlydragon
7 reason James is a SCAMMER

1) James have a same common like any other swindles: no bank’s statement , no tax audit …. Although he said he’s a profitable trader (how profit? Who knows?)
All you guys hear from these scammers is promise , promise and promise

2) James16 alike Jacko : both have a lot of loyal fans in FF , both are partner of FF, both are honorable trader in FF in many years ….. and yes both have no bank’s statements
[color=blue]
3) If you see in...
Hello guys,

I dont know is James scamer or not but i know you can learn all that for free withaout pay any cent,or withaout join in any "edu servrice".What i always ask myself > Why people wich can earn money for yourself,create a site and earn from other new traders,members.

Petar
"Buy on fear, sell on greed !!!
Quoting kermut
Forex is such that everything that does not work for everyone. Somethings work for some people.
Which is why it fails the Karl Popper falsifiability test - Google for it if you don't know what this means.

http://en.wikipedia.org/wiki/Falsifiability
Quoting Trader KGB
http://tinyurl.com/3axsqvc
I have already googled the company RenTec before asking you. But no. Can't find a short list of their edges. Perhaps, such a list has never exposed publicly or no sure if it has ever came to existence.

I expected to find entry/exit rules of their edges so that the methods can be systematically confirmed with a rigorous back/forward test, but it seems it is not possible now.
I fully respect that not every one wants to show their trading statement as it matters on privacy. But it is definitely helpful if live trading statement are provided to help newbies who are considering buying the service.

How about FF keeping the commercial guys in two separate sections (just like the Under Evaluation section being separate from the main Commercial section? One section is for those willing to provide live, verifiable statements, and another section for those wishing to keep it private. This is a free country, so let it be. To each his own. If the section with verifiable live statement is attracting more customers, then in a free market economy, those without statement can choose to step up & compete or stay put and take the consequences. FF management can put out disclaimers that they are not auditing the results so buyer beware.

If words get around that FF commercial vendors can have live statements, it may attract more members & viewers to the site. What do you guys think?
Quoting StephanusR
Which is why it fails the Karl Popper falsifiability test - Google for it if you don't know what this means.

http://en.wikipedia.org/wiki/Falsifiability

Man, that article just brought me back to my philosophy class, which I hated more than any class I've ever taken.
Quoting Petar_Serbia
Hello guys,

I dont know is James scamer or not but i know you can learn all that for free withaout pay any cent,or withaout join in any "edu servrice".What i always ask myself > Why people wich can earn money for yourself,create a site and earn from other new traders,members.

Petar
Yea you can, he teaches it for free at his free thread, he even offered free live lessons on this ridiculous thread.
How about we put a close to this thread, something like, people be warned, james doesn't post his statement, so make sure if your successful after studying his free thread, or if you learn anything useful in his free thread, make sure you know you'll be scammed if you join the pf. THat sounds cool ay.

or

Fact, James will help you for free, if you want pf for watever reason, it's there.

and Warning from skeptics, james doesn't post his trading statements, so he's a scammer for charging people for his teaching service.

Addon, if you really want success, buy $129 of trading books, or get them free on the net. Or just give up while your ahead.
Or maybe some of the kind peopel on this thread could offer some help.
Quoting s2659
Difference is, he isn't managing peoples money. He trades for himeself. This is about an educational site.

Maybe so but there is still no reason for secrecy at all.

It seems to me that he gets a substantial income from his educational resource so I would think in this case it would be important to prove value.

He also promotes himself as a Christian and as a Christian myself I would expect nothing but an HONEST verifiable account of his promises. We only trust God in faith, not men.
OK, I'll stick my neck out and post a trade I made earlier today on AUDCHF ('AF'). Feel welcome to flame me.

Why AF? Because I trade the strongest currencies against the weakest (first screenshot). Everything else being equal, these provide the strongest and cleanest trends.

Why the (long) entry at the close of candle C? Because it's an outside candle that rejects key S/R. Key because it's the confluence of both a prior session high (A) and low (B), and also coincides with the daily pivot (dashed green line) AND a round number (93.5). It's also near a 38.2 retracement of an obvious fibo (not shown in the screenshot). All of these factors add visibility. And of course I'm trading the currency with the strongest H4/D1 trend, further improving the probability. (Actually, I should have traded the anticipated bounce at C, with a low risk entry, and made a 3:1 or 4:1 trade out of it, but my nerve failed me).

Why the exit at the close of candle D? Because it's hit a confluence of multiple prior day's highs/lows (thick green line), R1 pivot level and round number (94.0). It was also a climax volume candle on the M15 chart (not shown). Net profit = 24 pips. (Note how this same level is also used as the springboard for the next upward move).

Candle E is a pinbar that rejects both a previous high (F) and also prior daily S/R. Not a pinbar that J16 would necessarily endorse (and on a M30 chart, whereas he recommends longer TFs), but for me it's the rejection of the key levels. Anyway, I didn't take this trade; I wasn't looking at AF at the time.

Candle G is another good example of the same key levels being broken, and then being revisited for a bounce of the very next candle (R1 pivot plus previous daily highs/lows). A nice low risk entry.


So what does any of this have to do with J16? Well, Jim's material got me thinking about how to use candles (not just pin-bars) and their power when they show rejection of key S/R levels. As you can see, I don't trade anything like the way that Jim or Mike does. But I nonetheless regard the info that I learned from these guys as pure gold (and I also learned a lot from BillyRayValentine, WMD, DIBS, and the VSA thread). I don't care whether the J16 teachers are trading millionaires or not; what's important to me is that I just banked another 24 pips.

Anybody who says that price movement is completely random or that TA offers no better probability than 50/50, well, all I can say (and as humbly and respectfully as possible) is that your views don't stop me from banking my profits. And no, I'm NOT selling anything; I don't have the patience to become an educator myself. I'd rather make money programming and trading, than be repeatedly accused of scamming by naysayers on forums like this one.

Do I have losses? YES, YES and YES. Is TA perfect? NO, NO and NO. As you can see, my charts are a seething mass of S/R lines, and I never know with any real certainty which are going to hold, or be broken. But you don't need anything like absolute certainty to be profitable at this game. The challenge is to devise a strategy of entries and exits that makes you on-balance profitable, safely beyond the 50/50 + spread, and to be patient enough to wait for the situations that permit low risk entries (and therefore potentially high RR trades), to occur. Simply play the probabilities and allow MM and compounding multiply your account.

OK, rant over. I'm merely trying to explain my earlier post (#318) in this thread: how I've used techniques that I've learned from educators to fashion my own method. Thank goodness for educators like James16!

_________________________________________

EDIT: for the sake of completeness, I've added screenshot #3, showing the climax volume candles on the M15 chart. I exited at candle D. If I'd waited for the next climax candle H, I could have banked another 100 pips.
Easy in hindsight, n'est-ce pas?
Notice how the climax candles D, H, J all signal impending temporary exhaustion of a move (again, it doesn't ALWAYS work, but it's another small potential 'edge'). I'm guessing this is pretty much the end of the move for the London session, although the crosses sometimes behave more erratically than the majors.
Attached Image(s) (click to enlarge)
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  • Post #477
  • Quote
  • Edited 10:56am Sep 10, 2010 10:26am | Edited 10:56am
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.

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...
KGB, the problem with your analysis is that you think that pin bars must occur in only 1 bar but that is not correct, they can be spread over several bars, that would take care of your great concern over different closing cycles by different brokers...and the "dissappearing pin bars" . They disappear b/c you are looking for a specific one bar pin, and are not seeing it in when it is spread in more than one bar.
And they must be at extremes after a run up or down, if you look to your left and see a higher (in uptrend) or lower price(in downtrend) than the pin, it is not at extremes, you dont take them in the middle of the range. This is not arbitrary pattern that somebody says works...they represent the psychology of the market participants at extreme levels....exhaustion....do they work everytime? Of course not, if that is what you are looking for, good luck, nobody has been able to find that certainty in trading since it began centuries ago, and I doubt that you are going to be the lucky one to find the holy grail.
Can 2 different traders enter on a pin bar at the same time and one makes money and the other one gets whipped? Absolutely. It is easier to enter than to exit, one may take the profit when is there and the other holds too long. I don't see how you are going to backtest something that is as dynamic as FX to find certainty going forward. Certainty is for accountants and engineers, not traders. It's an art not a science.

see attached PDF
Attached File(s)
File Type: pdf pinbars_various.pdf   43 KB | 347 downloads
Quoting wwwin
KGB, the problem with your analysis is that you think that pin bars must occur in only 1 bar but that is not correct, they can be spread over several barsF
Thats a point thats often made, but really its a ridiculous argument.

You can form any candle pattern you like simply by altering where you want the bar to begin and end in time. In the extreme, you could argue something such as "there's a perfect pin bar formed on the 3 hour, 23 minute chart", or the 15 hour 48 minute chart, or any other arbitary time period from which you want to make up your charts.

By the same argument, you can always find a set of parameters for any indicator, in some timeframe that appears to work for a given trade set up.

I'm struggling to comprehend the fact that there are people who are actually so nieve as to fall for this stuff. I should laugh, but its actually quite worrying that these people are at large in society, holding down jobs !
Now that is really the most ridiculous post of the day, there are no 3 hour 23 minute charts and there are no 15 hour 48 minute charts and if you code one up, you will be the only fool using it.
On the other hand, there are traders that trade on the 1h, daily or whatever, and they trade patterns, and the combine effect is that the TA works as it becomes a self-fullfiling prophecy.

Quoting Razzle
Thats a point thats often made, but really its a ridiculous argument.

You can form any candle pattern you like simply by altering where you want the bar to begin and end in time. In the extreme, you could argue something such as "there's a perfect pin bar formed on the 3 hour, 23 minute chart", or the 15 hour 48 minute chart, or any other arbitary time period from which you want to make up your charts.

By the same argument, you can always find a set of parameters for any indicator, in some timeframe that appears to work for a given trade...
Quoting wwwin
KGB, the problem with your analysis is that you think that pin bars must occur in only 1 bar but that is not correct, they can be spread over several bars, that would take care of your great concern over different closing cycles by different brokers...and the "dissappearing pin bars" . They disappear b/c you are looking for a specific one bar pin, and are not seeing it in when it is spread in more than one bar.
And they must be at extremes after a run up or down, if you look to your left and see a higher (in uptrend) or lower price(in downtrend)...
Tell you the little secret:
If you decompose a pinbar by looking at the lower timeframe, you get a V-shape price pattern.
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