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James16 is not credible

  • #541
  • Sep 13, 2010 9:20am Sep 13, 2010 9:20am
Ok, so I've read most of this thread. Had a little laugh.

Will keep this short and sweet.

When I first came to FF I had stumbled across the James16 thread. It was good at the time. Pinbars were effective in their simplest of forms.

As stated earlier, James did not invent the pinbar or trading the pinbar, merely made an observation and stated so. And alot of people can be thankful to him thats for sure.

But over the days the evolution of the James thread has tried to adapt to changing market conditions with more and more trades being missed out, and in my personal opinion making pinbars less viable to trade on a sole basis. That is, it can be traded, but you need other weaponry to attack the market. Otherwise, you will go insane.

looking at a chart 20 mins a day is not trading and does not make you a trader no matter who you are. And those that seem to have caught onto the james16 thread after the success stories, are those who are not willing to put the time into actually learning to trade.

James16 has contributed greatly to the retail FX arena, and see no issue with him profiting from it.

Whether or not he is a profitable trader, doesn't matter. He has provided something valuable to people.

I commend Trader KGB on his posts, they are spot on. The actual sales behind the method is not necessary, as its solid information.

The fact that the majority of retail traders are 3rd world, under-educated (note under, not un) and unaware, leaves them suseptable to promises of profits. Being stern and to the point is how someone is going to be profitable. Saying "this could potentially kill you" is much more effective than "I am my own boss and have been for X number of years".. I have done the own boss thing and its junk. No one sane can do that, especially a trader.

Long story short.

James16 - good member provides useful information (At a minimal fee)
Calls for proof of his trading are junk as he isn't selling a managed account
Trading dailies/weeklies will only get you so far (eventually you wont get full fills on all your orders and make pennies on a million bucks).

Good day.
  • #542
  • Sep 13, 2010 10:19am Sep 13, 2010 10:19am
Hello! I have read part of this thread and i have to say : most of you have no idea what a scammer actually means. James is not a scammer, just some guy selling his services for a fee. That's all!

However, i do have some questions for james:
If you feel joy helping people for nothing, why don't you wave the fee from your site for a month, a week, something like that! Or keep posting trades you make in the james 16 thread, because you stopped posting there a long time ago, it seems. I would very much like to hear some of your thoughts on some trades. Finally, at least you could post a video from your website once a month, so that the process of learning for the people that can't afford 130$/month never to stop. Wouldn't you say that either of these things, if not all would come from someone who likes to 'help people for free'?

P.S: srry for the grammar errors or bad english!
  • #543
  • Sep 13, 2010 11:02am Sep 13, 2010 11:02am
"Trading dailies/weeklies will only get you so far (eventually you wont get full fills on all your orders and make pennies on a million bucks)."

I have stayed out of this thread, and really don't want to get involved, but I do want to point out one thing.

James16 has repeatidly said the best advantage to trading is having a large account. What he is basically saying is that if you wait for the best set-ups, often on the Daily and up, you will have a great winning %.

So the question becomes, how many opportunities will you get waiting for only the best set-ups?

With a large account, you could trade hundreds of stocks, futures, bonds, and forex pairs. So you have many options and can wait to be picky.

And if you risk 2% per trade, and trade only a few times a month, and make overall on average 3% a month net profit, that would be almost 40% a year.

That is KILLING most any other investment you will find. Hell, if you only make half of that, and make 20%, you will over the long haul (10+ year period) destroy almost any other investment.

Now, will this make you a millionaire over night? Not at all. But does it give you a chance to beat your Mutual Funds sitting in your 401k, cut down on the time to retirement, give you a chance to stay alive, and eventually develop more profitable trading strategies? Without a doubt.
  • #544
  • Sep 13, 2010 11:03am Sep 13, 2010 11:03am
Quoting Takisd
Ok, so I've read most of this thread. Had a little laugh.

Will keep this short and sweet.

When I first came to FF I had stumbled across the James16 thread. It was good at the time. Pinbars were effective in their simplest of forms.

As stated earlier, James did not invent the pinbar or trading the pinbar, merely made an observation and stated so. And alot of people can be thankful to him thats for sure.

But over the days the evolution of the James thread has tried to adapt to changing market conditions with more and more trades being missed out,...
But the fact he IS selling a service is the whole point. Why why why would a successful trader sell a service. They wouldn't. That is the jist of it. Posting live trades has nothing to do with his training and EVERYTHING to do with his credibility.

So feel free to blindly follow some anoymous guy on the internet and pay him $130 a month and I will feel free to not follow him and remain quite skeptical of his success....although his training website seems quite successful!

Instead of all these "why are you picking on him" posts. Why not ask the obvious question....Why would someone supposedly making tons of money trading forex want to charge $130 a month for a pay site to train people? Why? Why? Why? Why do they not post live trades? Why has nobody ever met them? Why is there no proof they make the sorts of money they claim to make? Why? Why? Why? It doesn't add up!

Remember the Enron Documentary.."The smartest guys in the room". Nobody ever asked why.
  • #545
  • Sep 13, 2010 11:08am Sep 13, 2010 11:08am
Quoting pip_daddy
But the fact he IS selling a service is the whole point. Why why why would a successful trader sell a service. They wouldn't. That is the jist of it. Posting live trades has nothing to do with his training and EVERYTHING to do with his credibility.

So feel free to blindly follow some anoymous guy on the internet and pay him $130 a month and I will feel free to not follow him and remain quite skeptical of his success....although his training website seems quite successful!

Instead of all these "why are you picking on him" posts. Why not ask...
He has already answered these questions. I have never even been a member of the PF, and yet I still can find these answers...

#1) Why does he have a service? Because he wants to help traders, and storing all the data (videos, webinars, various senior traders and their own strategies) takes up too much room at Forex Factory.

#2) Why does he charge? To cover the expenses of a website and to pay those people who he trusts to teach others. So he is free to trade.

#3) He doesn't post live trades, because there is MORE TO TRADING THAN JUST ENTRIES. And if you get in, when will you know when to get out? He isn't around to tell you every single thing, and even if he was, how does that help you progress?

#4) There is tons of free information, even James16 admits you can learn everything for free that is on his website. The James16 website just allows for more one on one mentoring.
  • #546
  • Sep 13, 2010 11:14am Sep 13, 2010 11:14am
Quoting unlv_tj
"Trading dailies/weeklies will only get you so far (eventually you wont get full fills on all your orders and make pennies on a million bucks)."

I have stayed out of this thread, and really don't want to get involved, but I do want to point out one thing.

James16 has repeatidly said the best advantage to trading is having a large account....
You have to understand Tj, not everybody out there looks at trading as a few bunch of the lucky ones do. Most will never get over the fun they have staring 5 min charts all day with a $5000 account scalping the heck out of Euro for 30% a month - don't get me wrong, scalping can be profitable but so can a strategy based on taking a few setups a year that takes less than half an hour a week of your time and can get you up to that 30% - 50% ROI mark. Saying that you will treat it like a business and putting your said words into action are two different things.

Stop wasting your time postinghere at this crap thread, we got better things to do.
I believe . . .
  • #547
  • Sep 13, 2010 11:21am Sep 13, 2010 11:21am
Quoting ghous
You have to understand Tj, not everybody out there looks at trading as a few bunch of the lucky ones do. Most will never get over the fun they have staring 5 min charts all day with a $5000 account scalping the heck out of Euro for 30% a month - don't get me wrong, scalping can be profitable but so can a strategy based on taking a few setups a year that takes less than half an hour a week of your time and can get you up to that 30% - 50% ROI mark. Saying that you will treat it like a business and putting your said words into action are two different...
LOL Ghous, you are definitely one of my favorite posters on this forum.

There are guys out there, with enough years of experience, and time, they can trade the 5 minute charts and average astronomical returns. I wish I could be one of them. But I don't think I have the personality, and I know I don't have the free time.

I just think a lot of people need to look at trading realistically. If you want to trade the 5 minute charts and make 30% a month, you have to know what you are up against first. The best and the brightest, it is a damn tough battle.

Where as, if you are more realistic in you goals, and shoot to beat the market, then beat the market by a little more, after a few years, you will see great results. Will you become a millionaire over night? Not at all. Does anything really good in life come without hard work? Not at all.

You are right though, we both have better things to be doing.
  • #548
  • Sep 13, 2010 11:26am Sep 13, 2010 11:26am
Quoting unlv_tj
He has already answered these questions. I have never even been a member of the PF, and yet I still can find these answers...
Oy vey....where to start

#1) Why does he have a service? Because he wants to help traders, and storing all the data (videos, webinars, various senior traders and their own strategies) takes up too much room at Forex Factory.
Yea, and Sarah Palin charges $100k to give a speech about freedumb (sic) because she is a patriot!
#2) Why does he charge? To cover the expenses of a website and to pay those people who he trusts to teach others. So he is free to trade.
Ahhh I see, so the money is not for him. It's for everyone else. Yea, that makes perfect sense. Yea, that's exactly how business works! Oy vey!

#3) He doesn't post live trades, because there is MORE TO TRADING THAN JUST ENTRIES. And if you get in, when will you know when to get out? He isn't around to tell you every single thing, and even if he was, how does that help you progress?
So if posting live trades is so bad why do a lot of the other guys on his website do it? By your definition they are doing it all wrong! James needs to fire them apparently!

#4) There is tons of free information, even James16 admits you can learn everything for free that is on his website. The James16 website just allows for more one on one mentoring.
And your point? That a website is a place to go and share info? Thanks for clearing that up.
  • #549
  • Sep 13, 2010 11:34am Sep 13, 2010 11:34am
Quoting unlv_tj
LOL Ghous, you are definitely one of my favorite posters on this forum.

There are guys out there, with enough years of experience, and time, they can trade the 5 minute charts and average astronomical returns....
Nah, it's not about outsmarting the market. Almost the opposite. Most people are usually trading against their own emotions. The market is not there to try outsmart anyone. It's just there.

If anything, you need to dumb it down as much as possible.
  • #550
  • Sep 13, 2010 11:36am Sep 13, 2010 11:36am
Quoting pip_daddy
Oy vey....where to start

#1) Why does he have a service?...
Ever think that maybe he charges so that assholes like you stay out here bitching and the people that really want to learn can do so in peace? I bet there is a lot less crying and whining going on in the private forum than there is out here.

Just a thought...
  • #551
  • Sep 13, 2010 11:37am Sep 13, 2010 11:37am
Quoting pip_daddy
Nah, it's not about outsmarting the market. Almost the opposite. Most people are usually trading against their own emotions. The market is not there to try outsmart anyone. It's just there.

If anything, you need to dumb it down as much as possible.
I agree with this, but if you are trading 5 minute charts, it is a little more complicated. In the fact that on 5 minute charts you have a lot of noise, a lot of news, a lot of spread spikes, and you have to react much quicker.
  • #552
  • Sep 13, 2010 11:57am Sep 13, 2010 11:57am
Quoting unlv_tj
storing all the data (videos, webinars, various senior traders and their own strategies) takes up too much room at Forex Factory.


priceless
  • #553
  • Sep 13, 2010 12:09pm Sep 13, 2010 12:09pm
Quoting traderjai_inhi
Ever think that maybe he charges so that assholes like you stay out here bitching and the people that really want to learn can do so in peace? I bet there is a lot less crying and whining going on in the private forum than there is out here.

Just a thought...
  • #554
  • Sep 13, 2010 12:14pm Sep 13, 2010 12:14pm
Quoting traderjai_inhi
Ever think that maybe he charges so that assholes like you stay out here bitching and the people that really want to learn can do so in peace? I bet there is a lot less crying and whining going on in the private forum than there is out here.

Just a thought...
bahahahahahha
Thank You
  • #555
  • Sep 13, 2010 12:15pm Sep 13, 2010 12:15pm
James is a good teacher, and helps many traders, this is the bottom line.
  • #556
  • Sep 13, 2010 12:41pm Sep 13, 2010 12:41pm
Quoting Razzle


priceless
I program computers for a living. I suppose the concept of data storage and server space goes beyond your comprehension. So instead you post a laughing smiley face as a "rebuttal".

With this mentality, I doubt you make it in the trading field.
  • #557
  • Sep 13, 2010 12:58pm Sep 13, 2010 12:58pm
VonTrader,
You don't get the most basic fact about markets, and trading markets in particular. Prices are driven by crowd psychology, and charts (pin bars, canglesticks, lines) are an easy, useful, visual way of representing this crowd psychology. Fundamental factors affect traders' thinking in the long term, but trading decisions are emotionally driven.
Saying this does not mean that the chart affects the price. You have it upside down - the chart only represents the price.
If you believe that price fluctuations represent fundamentals on a tick by tick basis, or even day by day basis, you are waay off the mark, like most theoretical economists who believe the market is rational.
If the market is seen as a crowd, we can apply statistical methods to analyse the behaviour of the crowd as seen in the price charts.
TA is a simple version of that analysis, quantitative algos are a complex mathematical method of doing the same.
Quoting VonTrader
Sure, price is most of the time random. So the strategy is from the begining useless.
The price is AFFECTED by fundamentals and NOT by a silly pin bar pattern.

Plese read this and tell me which is correct:

1. market prices fluctuate because a silly pin bar pattern just appeared on the chart. haha

2. market prices fluctuate because they get signals from the economy that something is not working good anymore so the price from the market will adjust so this will resolve that problem in the economy!(this is why markets exists: to keep the...
  • #558
  • Sep 13, 2010 1:12pm Sep 13, 2010 1:12pm
Quoting unlv_tj
With this mentality, I doubt you make it in the trading field.
stick to the programming mate.
  • #559
  • Sep 13, 2010 1:35pm Sep 13, 2010 1:35pm
Quoting Razzle
stick to the programming mate.
I feel bad for you. Trading can be a nice way to pad your bank account, grow a nice nest egg, and lead to financial freedom.

But you seem to angry and negative. And as long as you are angry and negative you will never be successful in life. I mean, you may one day have lots of money, but with so much anger in your heart, you will be even more unhappy.
  • #560
  • Sep 13, 2010 1:47pm Sep 13, 2010 1:47pm
Quoting unlv_tj
I feel bad for you. Trading can be a nice way to pad your bank account, grow a nice nest egg, and lead to financial freedom.

But you seem to angry and negative. And as long as you are angry and negative you will never be successful in life. I mean, you may one day have lots of money, but with so much anger in your heart, you will be even more unhappy.
Yet another ignorant fool ..
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