james16 Chart Thread

Sorry to hear you lost money.

Demo is the way to solve that.

That ornament reminds me of one of the rooms in my apartment which my Chinese wife has decorated with various Chinese ornaments.

It is great, I get to celebrate New Year, twice. LoL

Anyone watching this Euro Swissy,this BUOB could be break above box, it is pushing hard towards monthly PPZ.
Let me tell you positives:
There is on TL support that TL seems to hold.
Price is pushing hard into monthly PPZ.
Buob forming off 50 % fib retracement and monthly PPZ.
And there is confluence of 38 fib and monthly at push point.
Regards
Taz


http://img688.imageshack.us/img688/4...oswissyfgh.gif

Hi guys

Have a look on weekly:

Copper
Platinium
Palladium

amazed by the awesome job you are doing here guys !

Here you go pin bar.
For 2 Day pins open close in previous bar is not necessary as much as for pin bar.
My Chart is a guide here of my views have a look.
Obviously this is my view,i could be wrong.

http://img20.imageshack.us/img20/7349/illustrative.gif
Regards
Taz

Sorry to hear that you lost money.
I lost money too in the beginning but if i had known J 16 before i would have followed the minimum requirements first.


Then i want you to read first 100 pages seriously.
The lines written below is my personal advice and no offence intended,i truly believe everyone on J 16 is good at everything in PA but like everything else you have specialists.
Here you go:
Firstly read James posts they have everything.
For Breakout/Pinbar trades always ask Mike.
For inside bars and other Dan Gilbert.
For FTA and PPZ james post and Jarroos popsts.
For pin bars and PpZ read Pinbar's posts.
For IPB and Locational dynamics read Ghous's Posts
For touch trades S/R/PPZ and PA lok for Bundy' Raczkfx and Benjis posts.
Yeah for knowing that J 16 can change your life do look for Wizard and Tiki traders growth.
And look for Raz's posts also.
How can i forget Swami.
And there are other great traders here of-course,
And there are J 16 learners like me here,i read this thread it is great.


Anything else post here some one will hunt your problem down.
MINIMUM REQUIREMENTS

If you are new to trading and/or you have had difficulty finding some consistent success, you must understand something. This is not a game and it's not a way to get rich quick. I suppose there is the odd exception of the person with a ton of money to play with, but if you approach this business without a business plan and the willingness to follow it, you are almost certainly doomed to failure. A doctor spends ten plus years in a grueling learning curve to be successful and earn a six figure income; anyone who thinks that their pot of gold in this business is a couple of months down the road is in for a rude awakening.

Below is a minimum requirement (in my opinion) to find out without losing your @#!@#$%$# if this business is for you. By following these recommendations, you will be treating trading like a business and you will be learning and gaining confidence. I think this is so important, I am going to make the following statement: If you start out in this business using no common sense, you have no one to blame other than yourself when you lose all your money. There is no reason to ever lose a dime of your money while learning to trade. A well thought-out business plan, common sense and hard work is required for anyone who wants a chance at success. Many people meet those requirements and still fail, but it does not mean you have to watch your bank account go to zero.

MINIMUM REQUIREMENTS / THIS IS A BUSINESS

1. WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):
ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.

2. OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.

3. FUND A FULL ACCOUNT AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE CONSISTENTLY BUILDING YOUR ACCOUNT FOR AT LEAST SIX MONTHS. YOU NEVER RISK MORE THAN 2 OR 3 PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE.

4. IF AND WHEN YOU DECIDE TO DAYTRADE ON A SMALL TIME-FRAME AND YOU DON'T FOLLOW THIS TEMPLATE, AT A MINIMUM, YOU ARE ALMOST CERTAINLY GOING TO FIND YOURSELFE IN TROUBLE. IF YOU ARE GOING TO FOLLOW A SYSTEM OR ANY TRADING STYLE AND YOU DON'T FOLLOW THIS TEMPLATE AS FAR AS THE DEMO PROCESS, YOU ARE NOT TREATING IT AS A BUSINESS AND YOU HAVE NO ONE TO BLAME OTHER THAN YOURSELF IF YOU LOSE YOUR MONEY.

5. IF YOU EVER SUFFER THE LOSS OF 30 TO 35 PERCENT OF YOUR ACCOUNT, YOU STOP TRADING. PERIOD-PARAGRAPH. YOU GO BACK TO DEMO AND FIGURE OUT WHAT WENT WRONG. WHILE DOING THIS, YOU REFUND YOUR ACCOUNT BACK TO ITS ORIGINAL AMOUNT. YOU DO NOT GO BACK TO LIVE TRADING AGAIN UNTIL YOUR DEMO HAS SHOWN YOU WHAT WENT WRONG AND YOUR ACCOUNT IS BACK TO FULL STRENGTH BY WHATEVER MEANS. IF IT TAKES ONE MONTH OR SIX MONTHS, IT DOES NOT MATTER. YOU MUST FOLLOW THIS APPROACH IF YOU DON'T WANT BLOWN ACCOUNT AFTER BLOWN ACCOUNT.

Your goal should be this. Learn, learn and learn some more and don't do anything stupid while your getting your feet on the ground. The ultimate goal of any trader is to build an account to a size where just a few good trades a month produces a staggering income. Hardly anyone ever gets there because they don't treat it as a business. They do stupid things that they would never do in any other area of their life and it's because of the money that can be made. If it takes you a couple of years or even five or ten to reach the level of a staggering income, is it worth it? The choice is yours. With this group you have a way of finding out if this business is for you and, at the same time, not draining your pocket dry while trying to find out.

I truly believe you are going to feel good about your investment if you should decide to join us and I know you will if you will stick around long enough to learn what we are all doing. One month is not enough time to understand and implement what all of us have to offer and WE HAVE A REWARD FOR YOU IF YOU SHOULD STAY WITH US FOR ONE CONSECUTIVE YEAR. ALL SUBSCRIBERS WITH TWELVE CONSECUTIVE PAYMENTS ARE IN FOR FREE FROM THAT POINT ON. Everyone tells me that this creates a terrible business model, but I always ask them, how can I create a bad business model when this whole thing was never intended to be a business? It was, is and always will be a hobby for me and an attempt to spit in the eye of all the scammers. As of late 2007 and almost two years not a dime has been spent on advertising. If someone finds us, great, but you won't see us hyping our group and making outlandish claims and promises just to get into people's pockets. Our success is due to what we offer and satisfied customers, and we let the satisfied customers comment about the quality of what we offer.

Jim

Hi all,

I've been reading this thread for a while now, and finally I've decided, that maybe I could learn more if I post some chart now and then.

First of all I want to thank all the people creating this thread - you're doing a great job!

As a trader I'm now fighting with the problem of entering a price action formation after they "break". I have a mental problem with that and I always want to enter earlier (I'm afraid of the big stoploss I have to use), which ends up with me losing money. From this week this is going to change

I wanted to post a 4H chart of USD/CHF. I will be watching the 0.9800 level for some bearish price action.

Why do I think bearish?
1. Previous support changing into resistance (0.9800)
2. RN 0.9800
3. 61,2% fib
4. Downtrend

Any comments would be appreciated

http://img703.imageshack.us/img703/5702/usdchf.gif

Is anyone in for another round of WIPG?

Hey Mike, that's not an uncommon problem I guess. I've been there and still am somehow. You can overcome this by lots of demoing/backtesting and so letting off the steam of fear and greed. I think it's a process most traders have to go through (and during which most of them probably lose money, me included ). That's why it's mandatory to paper trade through this phase. The more setups you trade with your demo account and by backtesting, the more confident you will become and the better you know that these setups work out in general - not all but many or most of them if you are picky and know what you're doing. In the end it's not so much a question of if this one setup will do its job but if your whole strategy will be profitable over time.

Use pending orders, small change but works for me.

http://img686.imageshack.us/img686/1401/10111402.gif

My guess is that it should hit the FTA, than maybe some retrace and than down to the 2nd TA. But than again if the trend is strong, the FTA could stop the whole bearish move.

Hans this one is good one.
I think it is going down considering momentum stalled a bit while the up ride and the bearish close of pin.
I would play this a break.
You see the price is looking like it is in a range.

http://img708.imageshack.us/img708/1401/10111402.gif

VERY NICE

Bad idea.
NO PA and Just TLs wont do it.
Your last pinish bar on GU is not a pin bar.
The daily chart has no PA to short.
And you are above a strong PPZ.
Ask for a chart and i will post it if you want.
Regards
Taz

Anyone on for this one?
Challenge is still open.
Regards
Taz

Uptrend is strong..
Pin bar is not so convincing regardless it is at swing high
because - size is not great
wic left out at the bottom .. hence selling pressure is not indicated.
I will still will reach its first FTA is the pin is broken.

First horizontal line is the first FTA
and 2nd blue horizontal line is 2nd FTA.. I don't see a reason at this time, that this will will go further down..

http://img17.imageshack.us/img17/9416/chart12131.gif

I'm thinking: a bit up, than retest of the pervious bars lows and than to the FTA. I don't think it will go much further north becouse of another strong resistance just above the FTA.

Taz, do you mean the one on 4h?

Planning your trades and trading your plan is a good way to overcome fear and greed, yes. Still some people might be better off by letting off steam on a demo account and while backtesting.

I was very picky in the beginning but that did not end fear/greed. In fact I became somehow more anxious of taking trades and kept myself from making experiences. I had to demo a few rounds of "trade everything that comes your way" to really appreciate pickyness.

Hi,

Can someone help me with this?

Is this a good example of DBLHC ...

The TF is H4 and is a 2 pip difference acceptable on such a TF ?

0908

Congratulations, all you guys probably would have made money on this trade. It fell through the FTA(s), 2nd TA and even hit the 3rd one on my chart. In the end it closed around 2nd TA.

Taz, My view is

However, it is technically NOT BE since the pin is not within the previous bar.