james16 Chart Thread

Hi Os

I took a tiny loss on 1/2 and i've got stop @ 0.7540 on the rest. After yesterday bad GDP NZD data i hoped for some good action today but it didnt happen. This upper wide TL is the only protection right now ;]

Cheers guys and Merry Christmas !

If we go down, ill personally ignore this pair till we break the 71 area.. lot of traffic to the downside.

Chart attached, let me know what you think.

nailed it sir!

Jim, Mike, Jarroo, Pinbar, Ghous, joelcf, SeekingLight, SupremeChaos, nasir.khan, and all you other great fellow traders in this thread:

This has been a great year for me. Apart from my family and friends this thread and the PF have probably become the most important thing in my life. You all - be you an advanced trader or a beginner - have helped me a great deal to make the journey from not understanding anything at all to the point where I finally think trading may be mastered - whatever that means for me. I just can't thank you enough for this.

You helped me to stay focused and kept me sane. I'm not joking. Without Jim, this thread and all the great guys and gals in it I probably would have given up a long time ago. So I'm looking forward to more bright mountains, dark valleys and another great year with you guys. That we all may one day reach lowland where everything makes sense, no more chasing is needed and everything falls into place. Thank you so much for everything you've done.

I wish you all a merry, merry christmas and an awesome year 2011!
Hans

touching post bud same to you and yours



Just finished all my xmas shopping time to catch up on the last few pages here

Mike

I feel the same about you and everyone here as well hans.

Thanks to all of you for being my friend.

Jim

CHART

Ok Lads
I know that some of you spend your time in the kitchen now or is it just me only? :O
If you 'll guess what is in the WOK , you'll get big profits next year ...and no , those are not Gremlins.
Please take one and enjoy!

I enjoy watching Your trade management process during the trade a lot more then dry charts with entry/exit...it is so much more educative (...is this the right word?).

okay, so i've been googling james16 and reading reviews. Some people have commented such as:

1. well he is not teaching anything new, all this is in the books.
2. i was not impressed by the materials presented
3. you better pay for an official course from an investment company
4. if james16 is that good of a trader, why does he need 130$/month.
5. james16 is pretty smart at marketing himself
6. why has no bank ever approached him and asked him to work for them
7. has anyone ever seen this guy?
8. what kinda car does this guy drive, where is the picture of his house?
9. this guy is fake that asks you to not pay attention to fundamentals, and indicators
10. he is not a certified forex trainer

These are just some of the NEGATIVE comments i've read online, but if I start writing POSITIVE comments I'll probably grow old writing that. I got so upset with these comments that I decided I must write back. To begin with, I'm a well educated guy and I do make 6 figures per year. Being smart, holding a good job, making steady income, getting A+ in university or holding a degree in computer science does not necessairly make you a good TRADER. Trading is a whole new game and requires skills that are not acquired by reading books. I've read multiple books and knew almost everything about forex. The books taught me candle patterns, indicators, chart patterns and confused the living life out of me with information overload. I've taken course by Nail Fuller and many other instructors. I've spent months reading thepatternsite.com and all of this information was very helpful, extremely helpful and trust me these instructors do know their stuff. But, it was still not enough to make good money. I either have to spend hours looking for patterns, candles, or hours drawing suppor/resistance levels. There were hardly good trades ever taken, and secondly, the trades I would take would hardly turn into profit quickly. I would let a trade run for days and then end up making few hundred. That sort of money is not good to quit a job (making 6 figures does not mean you are your own boss or set your own hours to work or take vacation whenever you want. you still listen to shit from your seniors and do as they please to continue making 6 figures).
The books present very good information but you can not learn trading just by that. similarly, you can not start performing medical surgery just by reading about it or listening to a professor in the class. You must see pure examples of live medical surgery, you must ask questions during medical surgery and then you must practice with a doctor side by side...with all that effor you hope to be able to perform a medical surgery on your own one day. This is what james16 is trying to teach you. His team is the one teaching you practical work not theoratical work. Having a doctor watch you perform a medical surgery is no different than having james16 team being there for you while you trade. I know many of you have read books on technical analysis, but how many of you have the chance to talk to the author at an ON GOING BASIS!!! NONE probably. Let me tell you. I know 2 professional traders who work for a bank and do make tons per year FOR THE BANK, yet they fail to share their ideas with me (yes I work for a bank too but not a trader). I've personally witnessed one of the trader pay $1 million dollar for a house in cash. They still work for the bank when they dont need to. James16 dont need your 130 month but he probably wants something on the side. Two things are never enough, women and money, and I hope most of you men out there agree with me on that.
Anyways, Information presented by james16 is to-the-point and does work AND IS WELL WORTH THE MONEY. Ofcourse I would charge money for my techniques, and probably charge you more if I was as good as james. If I ask you ''how much money you want to make'' the answer is probably ''unlimited''...so if james16 is making alot trading why limit it to that? Why not venture into more ideas to make more money. That is smart. I would do the same. Okay, maybe james16 does not make that much money but i've tested his techniques and it has worked for me. I'm trading with a lot more confidence and have reduced my losses significantly. Infact, I've turned my losses into profit now. His techniques have given me that edge I was looking for. I knew I'm close to becomming succesfull but someone needed to hold my hand and just help me cross on the other side. I think James16 and his team has just done that. Although I've read and read and read and watched many forex training vidoes, this thread made me feel like i'm just a newbie. To understand james16 materials one must know ALOT about forex to begin with. His information may not get through someone who is used to indicators and fancy expert advisors, or signaling services. But i'm sure someone who wants to purely focus on price action understand what he is talking about. Google ''forex price action'' and you still wont figure out how to trade. You'll just get lost. James16 and his team may have nothing new to offer, but they way they explain and teach you is what makes a difference. They know how to get through your head - at least they are doing with mine as I read this thread on.
Also, Maybe james16 is working for a bank and maybe he is not. I dont really care. If I was a millionair I dont want to be in the news and get robbed. I rather not let anyone know how much money I have and enjoy my life like that.He does not need to be a CMT to teach you this stuff. I've study for that course myself and was still losing money. I knew I know alot, alot than other know but I was still not able to beat the market. James16 has given me the edge to finally make money, and I hope to learn from him and his team as much as I can, and one day quit my job and do this full time.
oh and, I'll become a CMT, start my company, probably charge you 10 times more and teach you these same stuff - fools.

MMMMmmmmm Yummi Yummi

This will be our Christmas food for tomorrow
http://www.helmut.friedrichs-essen.d...nachtsgans.jpg

Dude...That looks delicious. I can only bow to that

Might be a nice spot for some bullish PA, right

I know this is retarded, but what the hell - it isnt like I am doing anything at work today

Between my degrees and masters, I have paid well over $100k to learn stuff that is all in books. A lot of it in old books! There is a decent chance that I am going to end up paying another £13,680 next year for ideas written down 230 years ago and available free on the internets!

That's a pretty silly argument.

For every person who isnt impressed, there are a bunch of people that are. I feel like I got value for money. The stuff there has paid for itself many times over. Your mileage may vary.

What the hell is an 'official course'? What the hell is an 'investment company'?

So, basically, the argument is that he should set up and maintain a forum... for free? I cant speak to jim's motivations, but there are both actual and opportunity costs in what he does. I sure as hell wouldnt be doing it for nothing.

If anything, Jim is pretty bad at marketing himself and the pf. Few people outside of this thread would even know about it.

Banks arent in the habit of scouring internet forums to hire people.

Not really sure how this is an argument either. Jim could be a Kodiak bear who communicates by bashing a salmon against a keyboard for all I care - as long as he sends me charts and answers emails.

Being from Texas, I assume he drives a bigass Caddy with a longhorn skull on the front and a 45 in the glove compartment.

Either way, how is that even relevant? I hired an Aston Martin last weekend, I could easily post photos of it and 'prove' that I am a 'good trader'. Hell, maybe I should - I could at least claim it as a tax deduction.

Pro tip: the richest guy I know, who makes more money than all of us put together (and whose remuneration is a matter of public record, so there is no doubt about how wealthy he is), drives a Honda.

He doesnt ask us to. He says that he personally doesnt use them. Some of the guys (Bemac, for instance) use indicators. Some of us (I know myself and SL definitely do) use fundamentals quite heavily.

This is my favourite. If only he had applied to the Department of FX Trading for his 'forex' licence!


It isnt stupid at all. The time is a sunk cost, he isnt getting it back regardless. How would it be a better outcome for him to go live and lose money? He had already proven that he cant trade.

Option 1: Quit. EV = 0
Option 2: Go live, lose money. EV < 0

Pretty simple decision imho.

Merry Christmas mate, all the best for the coming year

Just trying to get my head around these, after reading Ghous's explanation.

Correct me if i'm wrong:

The main difference is the location, a bull pin at a swing low indicates a move up, whereas a bull pin at a pullback during a downtrend suggests a move down.

Pins are considered to be more reliable because the wick shows that price has 'been there', encountered opposing pressure and closed back near the open.

With an IVPB, the same is true but since it is played at a pullback with a strong trend behind it, price has a chance of moving in the direction of the wick.

To me they seem like a very weak signal, since price could just continue away from the wick like a normal pin. I guess they would need great location/confluence with good trade management to be effective.

Am i on the right lines?

Wow, how much you really like to blow your own trumpet & what is the point of posting this rubbish in this thread, it is all rubbish.
Who do you think cares about how many figures you make, apart from you?


J16 is a stand up guy, he is not a Conn artist, he is the real deal along with the great people in this thread that help people like us for nothing more than a thank you and sometimes not even that.

I am amazed that Joelcf has been so tactful with your posts, must be the Xmas spirit.

wow. wow. wow.

this guy is patting me on the back but its not why im going to say the following.

"This guy gets it". why? no other reason than his "guesses" are mostly correct.

i didnt start the group to make money. i was asked to start the group. thats the truth.

it now makes money which im thrilled about but a huge chunk of it never sees my pocket. why? because i dont want or need a job. thats the truth.

there are pictures of me and my house posted several places. i have several houses. the one i currently live in was posted about 2 months ago.
thats the truth.

CARS? I WILL POST MY FAVORITE ONE IN A MOMENT.

folks im no guru and ive never claimed to be one. thats the truth.

i havnt had a boss other than my wife for nearly 20 years. thats the truth.

im just a guy that has been trading for a long time and stumbled accross a fledgling forum 5 years ago and posted. it has helped people. nothing more/nothing less. thats trhe truth.

its all happened with the wind at my back and very little if anything has been orchestrated. thats the truth.

i hate fucking scammers more than any of you. they have taken more of my money than 99 percent of anyone that ever reads this. thats the truth.

99 percent of anyone selling anything in this business doesnt give a rats ass if you succeed or not they just want your money. they cant trade on there own and thats why thay sell what they do. thats the truth.

when i started into this 5 years ago there was only one way i could possibly seperate myself from those 99 percent mentioned above and that was by walking the walk and not just talking the talk. thats the truth.

i told merlin no to the james16 group for 6 months (the group was hosted here in the early days) because i knew the hellish road that would have to be travelled to gain just a little respect. thats the truth.

the real reason i keep this going is similar to what hans said yesterday.

next to my family this has become something very dear to me.

the friendships and a place to call home.thats the truth.

there are more truths but whats the need.

im just a regular guy that stumbled onto a forum, shared some HARD EARNED trading experience and it helped people.

i enjoyed it and was asked to start a paid group.

i did and its helped people.

its all been done with never one single dime having ever been spent on any form of advertising and its all been done with zero hype and no attempt to make people believe something that wasnt true.

what is true is this.

this trading gig can only work for you if you treat it like its any other business you might want to start.

with patience, focus, abilty derived from practice and experience, a sold written out business plan, common sense and a desire in your heart that burns red hot.

expect to fail and fail again. if you look at failure as a negative then your better off working for someone else.

if failure makes the desire in your heart burn even hotter then your like me.

if your like me dont expect life to be an easy go.

you will be playing life on the field and not in the stands.

you will catch crap from friends and family that like the stands. they wont understand why you risk it all for freedom. they will call you irresponsible, wreckless, stupid and all sorts of names.

then when you finally make it they will be jealous and call you lazy because you dont work a 9 to 5.

they will despise you even more when you succeed.

get people like that out of your life. i dont care who they are. love them, be kind to them but get them out of your life.

everyone dies my good friends but very few really live.

Thats the truth.

I LOVE YOU ALL AND WHETHER YOU OBSERVE IT OR NOT.

MERRY CHRISTMAS!!! AND HAPPY NEW YEAR.

HAPPY HOLIDAYS MY ASS.

Hi pin
Unless I have it totally wrong torontobboy was just repeating what he found on the net after googleing , he then went on to give his positive opinion.
I do not normally get involved in this kind of discussion as it it very subjective but I just felt you missed the rest of his post.
Rgds
Grahame

It is posting groundless crap, spewed out by morons who obviously couldn't trade their way out of a paper bag, that annoys me.
I mean, someone comes to this thread, people like Mike & Jarro help them out, then they go and post crap like this just like a ten year old might.

Also, I really feel sorry for Jim after he has worked so hard and given so much often to people who turn around and bite the hand that feeds them, then someone posts rubbish like this. Man, this is Jims cross to bear and it must be so very heavy.