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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #113,721
  • Jun 27, 2012 7:49am Jun 27, 2012 7:49am
Quoting meshka
well... it seems that nobody have anything to show You Daniel
all are in red here. best ones are BE or have little not impressive profit.
Yea...probably. More interesting though is that noone seems to care/wonder about that. Maybe the whole thing is more of a fun thing to do in free time for some "traders"/chartists here. Maybe it's the start to a carreer as a technical analyst and useful for that
  • #113,722
  • Jun 27, 2012 7:57am Jun 27, 2012 7:57am
Quoting DanielT
I've searched the thread already to find some numbers
why do you care so much about results/performance of other people?

it does not matter if a trader earns $1 or $1M from this or that method/system. you cannot enjoy/take part with their profits or losses. it's totally none of your business anyway.
what matters the most is if this or that works for YOU.

there are many instant millionaires or Lotto winners who go broke after a few months/years.
not everyone who finds gold knows how to profit from it, or cope with it.

whine is a poisonous drink.
  • #113,723
  • Jun 27, 2012 8:13am Jun 27, 2012 8:13am
Quoting supremeChaos
why do you care so much about results/performance of other people?

it does not matter if a trader earns $1 or $1M from this or that method/system. you cannot enjoy/take part with their profits or losses. it's totally none of your business anyway.
what matters the most is if this or that works for YOU.

there are many instant millionaires or Lotto winners who go broke after a few months/years.
not everyone who finds gold knows how to profit from it, or cope with it.

whine is a poisonous drink.
I don't care at all about other people's personal profits or losses. If a trader tells me he earns 5 million USD a year it doesn't tell me anything about his performance.

Naw, I'm not interested about that. What I'm interested in (and I pointed that out in my original post clearly) is how the stuff presented here performs and getting some numbers from experienced traders like you (?) would help me to get an idea. I know pretty well how trend-followers are doing on a multi-year basis and also this year so far etc. Sure there are differences and that's fine but then there are also lots of similarities between traders using the same approach (not 100% the same but kinda...you know).

I mean hey, I don't mind your $s nor not-$s. Just how this stuff performs in the real world besides the nice and pretty charts.

For sure they're not everything, but hey in the world of trading some numbers don't hurt!
  • #113,724
  • Jun 27, 2012 8:21am Jun 27, 2012 8:21am
Quoting DanielT
For sure they're not everything, but hey in the world of trading some numbers don't hurt!
You do not care about the money but you care about performance? You have to realize that in trading, performance = money, generally. but big money comes with time (& experience).

what u see here can work in trending and non-trending markets.

what you see here is like a brick of clay ---- you can mold it into anything.
Sir, you come from Switzerland.. maybe you would understand it better if I say that what you see here is akin to a Swiss knife.

in the world of trading, ultimately, doing it yourself counts much much more than numbers or watching & waiting.
you do it.

if you want to swim, you don't rely on inquiries. you do it.
if you want to drive a car, you don't rely on asking to gain experience. you do it.
if you want to learn something, you do it.
that's how you do it.
  • #113,725
  • Edited 9:54am Jun 27, 2012 9:04am | Edited 9:54am
Quoting DanielT
I don't care at all about other people's personal profits or losses. If a trader tells me he earns 5 million USD a year it doesn't tell me anything about his performance.

Naw, I'm not interested about that. What I'm interested in (and I pointed that out in my original post clearly) is how the stuff presented here performs and getting some numbers from experienced traders like you (?) would help me to get an idea. I know pretty well how trend-followers are doing on a multi-year basis and also this year so far etc. Sure there are differences and...
First: Welcome Daniel. It's always good to have new people here ready to get out of the cycle of failure that goes on around us.

I haven't posted in a while, but this brought me out of retirement. I just can't stand that someone isn't getting the answers they are actually asking about. It drives me crazy.

Does this method work? Yes. It can. Period.

But it takes patience, discipline, practice and understanding. Without those, anyone can fail at this, no matter the level of experience, and I think that is why everyone hesitates to give you a solid answer. It takes qualities that you have to have, or at least be able to train into yourself. And nobody knows if you can or will do that.

You can make money with this method. But you have to understand it and control yourself. If you want to find out if it works, I suggest you get a working knowledge of this method and give it a try. Understand what the "perfect setups" are and trade only them on a PRACTICE ACCOUNT. You may not trade but 3 or 4 times a month, so be ready for that. And above all we wish you only the best trading experiences.



In answer to your question, Yes, there are definitely 20 people here making money, and I'm sure there are also 20 losing money. It's up to you to learn how to be the winner. This is a functional tool to do that though.

Also, look into this post. A very insightful article. Figure out where you are and understand that you will need to get through the other stages before you get where you truly want to be.
Currency is a joke. And that's precisely why I trade it.
  • #113,726
  • Jun 27, 2012 9:06am Jun 27, 2012 9:06am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting DanielT
Yea...probably. More interesting though is that noone seems to care/wonder about that. Maybe the whole thing is more of a fun thing to do in free time for some "traders"/chartists here. Maybe it's the start to a carreer as a technical analyst and useful for that
Hi Dan,

This method works for a lot of people because it is kept simple. The way I see this method in its simplest form is s/r and using PA bars and confluence to put the odds in your favour.

Now if you have a system for example where you have an MA cross system and then a pull back to the faster MA, the bar confirmations that J16 teaches along with say a price pivot all lining up together at that level can put the odds in your favour.

I am sure there is no one same trader here and you can give a trader the same set up, one will make money the other may not. Trader 1 will move stop to b/e and get stopped out Trader 2 that does not may get taken out for a loss, or face drawdown and eventually profit etc. You have to decide what kind of trader you are, as if you are like trader number 1 your results would be different to trader number 2 and therefore probably of no relevance to you as his style is different.

I think if you go through the first few 100 pages of this thread and decide you like the method taught here or that it could improve what you are currently doing, you can demo this material and see for yourself if it works for you.

It seems to me you are looking for a way to improve your trading, and that's why that is the reason you are here, just like the rest of us (I could be wrong though). I am a newbie trader and the method taught here is something which is simple to follow, but don't confuse that for easy, nothing is fed to you in a silverspoon here, and that is what I like about it, you are told the truth in post one, and are not told that you will make a million dollars overnight.

Seeing as you probably won't find experienced traders here to share their performance, I could be wrong but doesn't look like it so far (and I am a newbie so I probably don't count) I would probably urge you to look at the first few 100 pages to see if its something that interests you, it's surely worth the effort just to see as this thread couldn't have reached 7000+ pages without there being some really good information here for people to learn, and I find you can learn more with previous annotated charts which you can look at in your own time, who cares if the trader that posts up the chart is making money or not, the chart shows (be it in the past) the power of PA when combined with confluence, and if there's one thing we know, price does the same thing over and over.

Man this is such a long reply, sorry people, I don't even know if what I put makes sense I just typed it out! and to Dan i wasn't having a go, just urging you to demo this material if you find it could be useful to you, after all PA is no secret

Kind Regards
Sanil
  • #113,727
  • Jun 27, 2012 10:07am Jun 27, 2012 10:07am
First of all thanks to everyone who answered. I really appreciate it.

It just seems like you're not into the hard-facts/numbers game in trading too much. Maybe you don't have a trading-diary or an excel sheet or some software where you record your trades and can say "I'm trading this methods for X years now in my live/demo-account and on average make/loose X times the inital risk per month/year.

As mentioned in my first post I'm not new to trading, I'm already trading successfull for quite a few years now doing simple trend-following stuff. I just wondered if this approach can do better and if it's worth looking into it.

For me the most realistic approach to figure out if something works in trading is to talk to honest traders about their results. If they're mature traders and are not successful I know that it's probably not worth my time. I don't enjoy trading or looking at charts at all. For me this is just a job. It pays quite well though

Anyway thanks for your input, even if it doesn't help me so far since the answers are all just general answers you could give for any trading method out there. Of course it's the trader and psychology etc. But you can be the best trader in the universe if your method doesn't work...you won't make money. Better face that guys...

Maybe I'll put in some time and do some basic backtesting on the most popular stuff here (pinbars etc) to get an idea if it's worth to further inquire into this. Of course some real-life experience from you guys would definetely give me a better idea of what to expect. But as mentioned it looks like you're just not into that.
  • #113,728
  • Jun 27, 2012 10:21am Jun 27, 2012 10:21am
Quoting DanielT
Hi guys,

I've been reading here for quite a while now. While I like many ideas presented here in millions of examples of trades that worked out (or not...

As I said I really like the charts shown here but really wonder about the truth in your accounts

Thank you!

Dany
Hi Dany

I'm no expert, professional or guru and have not accumulated the years of experience you have. I am however fortunate enough to have found this thread which has steered me (an absolute novice) into someone who can read and extract consistent profits from the markets. It was the foundation of my learning.

Here is a link to a post of mine from July 2011 listing out my trade by trade results (Post #98545)

This information was made public out of choice. I can understand your request for evidence/credibility, so I hope this satisfies any doubts behind the teachings here. This is my own story and one that is continually evolving.

Hope this satisfies some degree of curiosity/doubt?

Tomek
  • #113,729
  • Jun 27, 2012 10:28am Jun 27, 2012 10:28am
Quoting 5.25
Hope this satisfies some degree of curiosity/doubt?

Tomek
Thanks a lot Tomek, it's at least something. But as you might know one month is almost like nothing in the world of trading. I always have some very good and some very bad months during the year.

How did you continue from there until today?
  • #113,730
  • Jun 27, 2012 10:52am Jun 27, 2012 10:52am
Quoting DanielT
Thanks a lot Tomek, it's at least something. But as you might know one month is almost like nothing in the world of trading. I always have some very good and some very bad months during the year.

How did you continue from there until today?
That is a very fair point which is why I continued to study. I have documented, recorded and archived many more trades following that. I studied and worked for 7-9 years to qualify as an architect so to me 1 year of trading was not enough. Given it's my full time job and with further studies and a renovation project on the side, I'm in the slow lane when it comes to becoming a 'professional'.

I remember reading at some point during this process that "if you knew there was a 6 figure salary by the end of a 3-5 year period of study, would you not put the time in? It's not word for word, but the point remains the same.

It may not be the stats you are after, but if you hang around for a few months I should by then have a good set of hard lined figures to share

T
  • #113,731
  • Jun 27, 2012 10:53am Jun 27, 2012 10:53am
in 3,5 years i have never put one on the "ignore list".
today is the first time...
feel honoured...
what a bullsh*t discussion!!!!
meine augen sind die sterne
  • #113,732
  • Jun 27, 2012 10:56am Jun 27, 2012 10:56am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting DanielT
Maybe I'll put in some time and do some basic backtesting on the most popular stuff here (pinbars etc) to get an idea if it's worth to further inquire into this.
Hi Dan,

This is a snap shot of what I have learnt here, simple s/r with PA and confluence. (I know its one messy chart but hopefully the labels are clear enough!)

Did I take this trade? No (I think I was away), Would I have? Yes, and here is the logic I personally would have used to manage the trade using the J16 method.

Would you do things differently? Maybe. But there's no denying that pin bars can be a terrific PA bar to add to your ammo along with location and confluence.

I would be quite happy to show you my trading results after a couple of years, but I have a feeling you don't have the time to wait that long! haha.

Am I consistent? No, Do I always follow the logic that I have shown on my chart example? No.

But posting charts like this help someone looking to learn this method more easily than posting up figures of performance (that's just my opinion). You can see on the chart the thought process that goes behind taking these kind of trades, and that is what is taught here. Sorry I don't have much to give you apart from an illustration showing my thought process of how I would handle the trade (maybe I can show you how I performed using this method in a couple of years, i'm not the experienced trader you are looking for)

Although I do hope you find what you're looking for mate, enjoy your day

Kind Regards
Sanil
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  • #113,733
  • Jun 27, 2012 10:56am Jun 27, 2012 10:56am
guys friendly reminder keep this to trading and charts. Discussions are fine and healthy but lets not get too far off course. There are plenty of threads to do that in too if one feels desire too and more then welcome to start a new thread about it all.

This stuff happens routinely every few months and that's just part of it. Those who want to learn have a very nice place to do so, because of the quality of this thread. That will always shine through cause James set that precedent.

Just a friendly reminder from the resident Fudd

THanks
Mike
  • #113,734
  • Jun 27, 2012 11:11am Jun 27, 2012 11:11am
another Chart, where I will be watching
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  • #113,735
  • Jun 27, 2012 12:05pm Jun 27, 2012 12:05pm
Quoting mbqb11
another Chart, where I will be watching
great email. good reason to be part of the j16 group over there...
I think I will literally put all my money on this one. jk... but I've been waiting on this one.
  • #113,736
  • Jun 27, 2012 12:08pm Jun 27, 2012 12:08pm
Quoting aserbfx
in 3,5 years i have never put one on the "ignore list".
today is the first time...
feel honoured...
what a bullsh*t discussion!!!!
Sorry to offend bro. Happy trading. T
  • #113,737
  • Jun 27, 2012 12:12pm Jun 27, 2012 12:12pm
Quoting dafox1
great email. good reason to be part of the j16 group over there...
I think I will literally put all my money on this one. jk... but I've been waiting on this one.
Now the hard part D

Waiting

Mike
  • #113,738
  • Jun 27, 2012 12:12pm Jun 27, 2012 12:12pm
Quoting 5.25
Sorry to offend bro. Happy trading. T
you didn't offend anyone T

Keep posting away bud

Mike
  • #113,739
  • Jun 27, 2012 12:34pm Jun 27, 2012 12:34pm
Quoting 5.25
Sorry to offend bro. Happy trading. T
i am sure you know to whom this belonged, my friend...
meine augen sind die sterne
  • #113,740
  • Jun 27, 2012 1:00pm Jun 27, 2012 1:00pm
I was long in this, so this became an exit point. Pretty sure this could be a good signal. Hasn't made it's move yet so I'm still waiting.

Edit: Also noticed that this rose up past the 38.2% fibo @~79.76 and then closed below it as well. Despite what I'm reading on some sites, I really think it has a good chance of turning and heading south. I'll take it if PA validates the pinbar.
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Currency is a joke. And that's precisely why I trade it.
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