James16 is not credible

I don't like posting much for my own reasons... but i had to say thanks for posting that trade James!!! You're last post really made me smile becasue I've followed your thread silently for about 6 months now (i may have posted once or twice). And I took the same exact trade yesterday on EUR/USD. I just closed it out for the weekend. (1.3315 - 1.3479).

Thanks for everything...

Jim, that's a noble idea, but if you go ahead with this, I suspect that you'll find yourself on a hiding to nothing. When people are hell-bent on discrediting you, then no matter what you do, their minds will remain immovably made up.

The charge that most of these folk have against you is that you make more money from your private group than your own personal trading, and nothing less than seeing a Price Waterhouse authentication of your personal trading account is going to convince them otherwise. Of course I'm NOT suggesting that you should go down that path.

If these folk were genuinely interested in testing the validity of your setups, your free thread has been around for more than 5 years now, and contains more than 75,000 posts. Posting a few more charts here can only lead to further skeptical response:

-- If any of your calls arrive here so much as five minutes late, you'll likely be accused of past-posting.

-- Any calls resulting in losing trades is ammunition for them to discredit you further. Cynics are invariably quick to exploit any crumb of evidence that they believe supports their case.

-- As for calls that result in wins, they can either say that you were lucky; or that market conditions are currently so trader-friendly that a chimpanzee could profit; or that your trading method is conveniently open-ended. Or they'll simply disappear, long before they'll humble themselves for long enough to give you any credit.

Naysayers have given up all hope of learning how to trade profitably for themselves; their only consolation comes from trying to prove that others can't, either. Hence you'll end up spending many hours posting charts and explanations here, all of which can be dismissed by a cheap, one-line response.

If I may assume that both you and your students are trading profitably, and your students believe that they're receiving value for their subscription money, then that should be enough to satisfy your sense of fulfillment. Continue to spend your time and effort on those whom you believe will benefit most from it. You're under no obligation to prove anything to anybody else. For your own peace of mind, you need to somehow find it within yourself to let this business rest.

David

For those that want proof:

I started a new project 7 weeks ago, trading the Dow on M15 charts. I am using real money, albeit in a small way.

I risk 2.5% per trade. The method is my own in a sense, but every element that comprises it has come from James and Mike, and my approach has been very much informed by their advice and input. I do not want to claim that it it is my "own" (although it is) without acknowledging that the vast majority of it is the result, in particular, of Mike's help. Nonetheless, you must also understand that nobody handed me anything - there are no J16 systems, a lot of work is required if you are to make progress.

I only have seven weeks of trading to report, which I understand is not long, but which is also not my fault. I should also mention that I have had a 2 week holiday during that period. My account now stands at 112.9% after what is effectively 5 weeks of trading.

I have my own thread for my project in which I record my trades. With the exception of the first few, I do this by posting a chart as soon as I place my order, then making subsequent posts as the trade progresses and concludes. This is so people can see that nothing has been altered.

I post all of my trades, including losers as well as set-ups that I want to avoid but make a note of.

As far as I am aware, it is not possible to fake what I am doing. Any member can see my trades, can see that they are posted in real time, and can see that the initial calls have not been altered. This applies to all but the first few where I didn't think it important, although those are the worst of the bunch and include a couple of real stinkers (purely user error).

Any J16 member can verify this, as can anyone who wishes to take the chance of buying one month's subscription.

I have less than two years of experience in trading. I am trading one market at present (demoing forex as well) and have increased my account by 12.9% in 5 weeks. Trading one market only (or two if you wish, sometimes cash sometimes futures). I am not making this statement to boast, to promote the forum, for marketing or anything else. It is just a simple statement of the truth. I should also state that it has taken a lot of hard work and serious thought to get myself to this point.

I regard this (feel free to disagree) as a phenomenal result. I have been a member of the PF for just over a year.

These results have been achieved risking 2.5% per trade, following a disciplined and clearly defined (although still discretionary) process. A process I developed myself thanks to the ideas in the forum, and a truly huge amount of personal help from Mike. I have not traded wildly, trusted to luck, instinct or anything else. Every trade is entered using the same basic principles of PA, S/R, orderflow and so on.

I will not provide account statements to random blow-hards who have not even taken the trouble to attempt to understand the concepts that I am using. However, anyone who wishes to see all my real-time entries can do so, as long as he or she is a member of the PF.

I am not suggesting that you join. All I am saying is that there is live proof of Jim's (and Mike's) teaching working for someone who is still very new to trading.

I cannot offer more "proof" than this because as I say I have only been trading for a short time. However, I will continue to update my results periodically on this thread to answer those who will say (with justification of course) that 5 weeks is insufficient time from which to draw a conclusion.

When I joined the group in trading terms I couldn't find my arse with two hands. Thanks to Jim's material, the forum member and resources, and most especially Mike's incredible support, I have seen a complete transformation.

Does Jim make money trading? I neither know nor care, it is utterly irrelevant to me. Thank you Jim, and thank you Mike.

And your evidence for this is what exactly ?

ah hanover I always love your posts... always valid points...

Wow, this thread has started off as a whore house, and will end in James teaching for free. How cool.

Obviously I can't prove that a naysayer is unprofitable any more than you or anybody else can prove that an educator is unprofitable. Hence the points that I made in an earlier post (#318).

As the saying goes, great minds discuss ideas; small minds discuss people. If somebody repeatedly (obsessively?) attempts to discredit the ideas and efforts of others, without contributing anything constructive themselves, then I draw my own inferences as to their possible motive, intelligence, trading experience, profitability, etc, just like everybody else does. Your conclusions may differ; that's OK by me.

This is the crux of this thread, I should be able to undertake appropriate due dilligence on a business.

Very cool, especially as he is starting by posting his trading results.http://cdn.forexfactory.com/images/icons/icon6.gif

King.

yeah i would pay money to be as brilliant as this guy. reminds me of someone i know from the old days around here.

actually thats really not anything new.

its just new to people that dont know me or havnt been around for a while.

chart

As far as I can tell James16 is upfront about the expense and service provided by his website. Its fair exchange if he explains the cost and the lenghth of commitment expected to learn his approach.

The cost seems like the only honest issue anyone has, but keep in mind that its a private website and Forex Factory is a public website. If you drew a parallel to other public and private operations,say for instance , a private golf course membership, the value you are paying for is quality of enviornment over public courses.

Fair exchange is not a scam, and if you choose to pay a monthly fee to learn his material in a different enviornment, and the cost to do so has been explained clearly upfront, that is not a scam, its an expense.

Its really incredible how 1 person on a website can create such an influence over the rational (that can be argued) minds of individuals, that because of his actions there is now a wide spread distrust amoung so many and that they are pointed in every direction.

Jacko was an arse, a con artist who ended up screwing with peoples livelihoods. He took you in, showed you somethings and then walked away into the shadows with your money. Bernie Madoff did it and there is plenty others through history. So because of the minority, because of an unfavourable few, even if we didnt have money with them we find ourselves pointing the fingers (no me personally) at every investor, mentor and person who we think is evil because they accept money for education.

So where does this leave us? Do we walk away from such things as 'paid education'? Do we label everyone evil or do we look at ourselves and ask what it is we can do to avoid it. Labeling everyone we think is dishonest without actually having any knowledge or experience of that person is a very reactive process? How many people actually met Jacko before handing him money? How many people did some research into his method of transaction and where you stood in the worst case scenario? Did anyone bother to ask whether they, the depositor could easily withdraw there own money from the project and did you only sign away your right to trade the money. Signitures are required when contracts are drawn and this process involves meeting people. I find it ludicrous that people handed over there money without a formal meeting, a signing of legal documents and the process that usually goes on when giving someone the rights to invest and grow (or loose) your money... But alas here we are, Jacko commits the deed and now here you are pointing fingers.

For what it is worth, James may not be credible (not my personal opinion) however I have never seen him or his website ask for managed funds, he merely asks for a small amount, which may be alot for some individuals, however if this is the case I believe he'll take you in for free and how many others say they will do this. For this small amount he offers an educational service. I know a few others out there that do the same thing, however there fees are an annual up front payment with either a small money back period should you wish to walk away or none at all. This guy gives you the option to join for just a month and if you dont get anything from it you can walk away. Now think for a moment. I hear the comment about if someone is so good, if someone can make X amount of dollars already then why do they need to charge, they are obviously not telling the truth and they are really a fraud.

Read Atlas Shrugged, you will learn something about looters and no, Jim is not the looter in the above scenario, the people who expect education for free, the ones who demand are the looters. Would it be different if Jim wrote a book and published his ideas??? Infact I am sure that if he wanted to make money he could very well have gone down that path, like so many others have? What is the difference between running a website that offers education, one on one with updated videos and information and writing a book? Is there a difference? Have you purchased a book lately?

I guess the whole spiel is to say be more proactive in your approach. If something doesnt feel right then walk away, but do so because you dont want to take the plunge dont come to a forum and write a heap of rubbish without any claims to back it up. Dont do it just because you failed to do your homework before handing (wiring) money to a certain somebody.

For what its worth I have a deep respect for those who have the time to help educate people and I dont believe in selling yourself short. I dont believe in selling your mind to those who dont deserve it for free. If nobody shared there mind, through books, seminars or websites then there is a real chance that none of you would be here because you wouldnt have a starting point to begin trading.

BTW Forex Factory doesnt run for free, they get there paycheck from somewhere. Would you find it disrespectful, absurd and criminal if 'they' had a small subscription or would you move to the next free forum. Personally I would take the opportunity to offer a subscription, it would sort out the site in my view. It would remove alot of the 'more than 1 username' people, it would remove most of the haters as they would just go to another thread were they wouldnt have to pay to bash faceless usernames and would possibly transform into a place where people who really wanted to be involved would stay. There will still of course be a minority but it would be a minority...

RT

You're a brave man, Jim, I hope this exercise proves to be worth your while. Good luck!

thanks but luck wont be a factor.

trading is like riding a bike to me.

riding a bike is actually harder now that im 50....well 50 on nov 8th.

im not doing this to prove anything.

im doing it for that one person that might see the light.

your a great asset to this forum sir.

hey James

Please post your live trade immediately after you entry, this trade do not count because you posted after the euro up 100 pips

Thanks

wow my ibfx balance sure says it counts.

good try though.

I just looked at all your posts so far on Forexfactory, it's quite clear you are not on ff to learn, only to attack, and basically only to attack j16.

i was thinking to enroll james' class and all i am waiting for is Jame's live trade .... if he could done 100 live trades in the public with a positive results, i will definitely subscribe to be life time member