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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

  • #841
  • May 24, 2006 11:58am May 24, 2006 11:58am
Quoting LapisAnguli
Hello everybody.
You might know the patterns, but without guidance and examples, it is as usefull as doing surgery with a surgeons knife while being blindfolded.
I was in the same situation before I found Forex Factory.

Good Luck and Take Care
Habeeb
Keeping it Simple
  • #842
  • May 24, 2006 5:17pm May 24, 2006 5:17pm
Quoting lindamartinfx
i must say i am impressed so far with sooo much comments and threads about james16..i have joined this forum (the regular not private one)for 6 months now roughly but didnt know anything about this group till last week(beleive it or not) and after i read all the threads of this forum(well ok..not all...i need another life for all of em) i can see how all this can help someone in trading as its full of advise, teaching, sharing of knowledge etc..... its refreshing to hear so may people talking about it and i must say i am tempted to join .... where i come from there is no sharing of knowledge, as there is NO knowledge to share about forex...most poeple when i mention forex think its the new model of toyota (ok some know but u get me point)

anyway as i have started my forex trading career from a brokerage house(no names) that took me on and trained me(well if training is throw u in a room with charts, prices and tell u to make money...heheh) and as i had to deal with their spread of 15-19 pips , after a year of all that i survived(means not burned my account and other clients ones) I learned to deal with the market in a different way. THE HARD WAY ..yes still looking all the charts and fundamentals etc...but we were looking for the psycology of the market...the feel of the market...and because i was trading the companies clients i had to go with the flow(flow was the chief trader who was telling us how to do it...)
so anyway... since i left that place (that place who apparently didnt beleive in stop loss orders) I manage to do some serious reading and searching by myself and i have a new understanding of how to trade , what to be aware and how to develop a good trading system.... BUT trouble is I dont beleive in myself as much and there is so many things i find here that i didnt know even existed...u see when u r stuck for a while in someone elses mind..its hard to think for yourself.... but now i can see by reading all the posts that all u people out there ARE progressing and searching and developing systems that work.... so in a way is that what this group is for? or following some very experienced and succesfull traders advice?
THANKS FOR YOUR POST LIND, one thing i/we have tried not to do is make hay about the private group on the public side. i will admit it bugs me a little that many come here that could benefit from the group but never find or run accross it. anyone who is interested can go to the prefered services page and look at our website. we made a commitment not to over publicize the group and i think we have more than kept that promise. look for some charts here soon and thanks to everyone public and private for your support.
  • #843
  • May 24, 2006 5:24pm May 24, 2006 5:24pm
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
Quoting james16
THANKS FOR YOUR POST LIND, one thing i/we have tried not to do is make hay about the private group on the public side. i will admit it bugs me a little that many come here that could benefit from the group but never find or run accross it. anyone who is interested can go to the prefered services page and look at our website. we made a commitment not to over publicize the group and i think we have more than kept that promise. look for some charts here soon and thanks to everyone public and private for your support.
There's a private forum? Where?

Seriously Jim, that's one of the nicer things about you and dial and fiji. You don't hype the pf in public, and that is so refreshing!

Michele UU
I am an extremely satisfied customer of the James16 Group!!!
  • #844
  • May 24, 2006 5:40pm May 24, 2006 5:40pm
Well personally I have enjoyed The fact that there is so much Available both publicly and Private. The Forum that has been been created here is just great. But of course I would never stoop so low as to plug any product or service, so there is no need to throw Rocks.

Keep up the great work... Thanks from a happy and chatty fellow member.

Scott
  • #845
  • May 24, 2006 7:09pm May 24, 2006 7:09pm
Subtle Smjones!

No but seriously I felt kind of bad about posting this in public. It's like you can't tell anyone, it isn't propper to do so. However, you must also watch out that it doesn't become a hush-hush club. If I hadn't seen someone post a vague reference to this thread, I wouldn't even have known it existed or what it stood for. I even had to do a forum search because I didn't know where to look for this thread. And even then it took me some time before realising the PF/Private Forum = www.james16group.com for getting your FF/ForexFactory account to be enabled to access the PF on FF?

Perhaps this should be a sticky thread or something? Not as "advertising", but no matter what, there is valuable information in this thread. Okay if a reader isn't interested, the knowledge/principles here might save him money later on..

It will sound so weird, but in fact when reading some posts from people I get an almost guilty feeling thinking "You would benefit SO much from joining, but I can't say that can I? If the founders from that PF don't even talk about it in public, then I certainly can't can I? That would be bad manners or something?"

But hey, today I got an excuse for being an Ill-Mannered Embarrassing Newby! : Overdose of joy!

L.A.

PS: Also "preferred service" sounds so different than "private forum". one gets the impression that the services are detached from forexfactory itself imho.
  • #846
  • May 24, 2006 7:50pm May 24, 2006 7:50pm
LOL.. Well said L.A. Those things were also inside of me.
Thanks for saying them for me.
  • #847
  • May 24, 2006 9:43pm May 24, 2006 9:43pm
Quoting LapisAnguli
No but seriously I felt kind of bad about posting this in public. It's like you can't tell anyone, it isn't propper to do so. However, you must also watch out that it doesn't become a hush-hush club. If I hadn't seen someone post a vague reference to this thread, I wouldn't even have known it existed or what it stood for...
LA, you are thinking correct! I was counted among those who were looking for all i could get out of FF (which is probably way more than I have time to read even in the public side), and then i heard rumblings of a "PF", it took me a couple days to figure out what that ment ; ) Then finaly figuring out how and where to sign up!

I'm glad to be here and there! Merlin has done a wonderful job at allowing us all to self-police this place (with his guidance : ), and allowing Jim and group to piggy back their forum and benefit from the good forexfactory name. It's a Win-Win-Win situation for all.

Thom
  • #848
  • May 25, 2006 2:37am May 25, 2006 2:37am
  •  MikeG
  • | Joined Aug 2005 | Status: Empowered to Profit by James16.com | 59 Posts
Quoting LapisAnguli
Subtle Smjones!

No but seriously I felt kind of bad about posting this in public. It's like you can't tell anyone, it isn't propper to do so. However, you must also watch out that it doesn't become a hush-hush club. If I hadn't seen someone post a vague reference to this thread, I wouldn't even have known it existed or what it stood for. I even had to do a forum search because I didn't know where to look for this thread. And even then it took me some time before realising the PF/Private Forum = www.james16group.com for getting your FF/ForexFactory account to be enabled to access the PF on FF?

Perhaps this should be a sticky thread or something? Not as "advertising", but no matter what, there is valuable information in this thread. Okay if a reader isn't interested, the knowledge/principles here might save him money later on..

It will sound so weird, but in fact when reading some posts from people I get an almost guilty feeling thinking "You would benefit SO much from joining, but I can't say that can I? If the founders from that PF don't even talk about it in public, then I certainly can't can I? That would be bad manners or something?"

But hey, today I got an excuse for being an Ill-Mannered Embarrassing Newby! : Overdose of joy!

L.A.

PS: Also "preferred service" sounds so different than "private forum". one gets the impression that the services are detached from forexfactory itself imho.
I'm replying to the part of your post I've bolded in red above.

For Jim or Fiji or Dial to push the PF would be wrong. I think the light handed approach they are taking is perfect!

Now for we members of the PF, I think it is a different story altogether. We've got nothing to gain from promoting the PF. We have no vested monetary interest. So I don't see a problem for me, as a satisfied customer, to share the good thing I've found on the public side. I know the PF has done wonders for me, so it would be selfish of me not to share it with a struggling newbie on the public side. To me, it would be bad manners to withold info about the PF from struggling newbies. We customers are the best advertising the PF can get!

Michele UU
I am an extremely satisfied customer of the James16 Group!!!
  • #849
  • May 25, 2006 8:47am May 25, 2006 8:47am
Hi Michele, g'day. Agree 100% on the "no vested monetary interest" comment... and i will add that in another light we do have much to gain as PF members in "promoting" it here in the FF, and i would imagine that you would agree:

What do we have to gain? If all us satisfied PFers shout from the roof tops, in sencerity and honesty, what our experience is in there, others will follow. This means that there will be fresh questions and comments from the newbies. I've learned so much from such questions and comments...

...In my paradigm of the world, reading such Q's and A's has often given me new insights into an existing situation, a new way of looking at a possible solution, and a solution that i would not have even had the insight to ask/think of, because i was coming at the situation from my different mindset/view.

OK, now i'm stepping down from my PF soap box for real.

Cheers all,
Thom
  • #850
  • May 25, 2006 10:20am May 25, 2006 10:20am
i do beleive that is ok to say what you gained from that forum as its a good way for people like me and others to take in all your comments and then decide for ourselves...i mean it is because of all the threads in this forum that I have learned about the PF like who is teaching and what is about....

anyway i am reading more and more about it from previous threads that are scuttered all over the forex factory forum and the more I read the more I think its worth it...

In the world of forex where u and I are 2 little numbers that dont matter, (as we r up against the BIG PLAYERS, and people with more power and money than sense i.e the true reasons why market is moving up and down) its nice to know that we r not alone and we can find some ways to benefit by people with experience and knowledge and eventually gain ourselves....
  • #851
  • May 27, 2006 11:33pm May 27, 2006 11:33pm
Why is there a private forum ??

I thought Forex Factory (FF) was based around fx discussions and sharing of fx experiences/wisdom. To me, the PF undermines the whole purpose and attraction of FF.
  • #852
  • May 27, 2006 11:37pm May 27, 2006 11:37pm
Quoting rjb1024
Why is there a private forum ??

I thought Forex Factory (FF) was based around fx discussions and sharing of fx experiences/wisdom. To me, the PF undermines the whole purpose and attraction of FF.
there are several here. rob bookers is here among others. you just cant see them unless subscribed. they are just extentions for those that wish to take things a little further, no big deal.
  • #853
  • May 28, 2006 12:06am May 28, 2006 12:06am
Actually, the PF even adds more attraction to FF in my opinion.

It's like a breeding pen or something.. And when you've learned more inside from there, you can now have more knowledge, understanding, and experience to share with the public.

Like what jim said, it's no big deal..
  • #854
  • May 28, 2006 12:16pm May 28, 2006 12:16pm
Quoting eastmaels
Actually, the PF even adds more attraction to FF in my opinion.

It's like a breeding pen or something.. And when you've learned more inside from there, you can now have more knowledge, understanding, and experience to share with the public.

Like what jim said, it's no big deal..
Hmmm. There has been a pretty dramatic drop in the public Vegas/VWB discussions. Is it because of market conditions? Has the same lul in activity occurred in the PF? If not, it is a big deal if part of the intention is to sustain a vigorous public discussion... Not that anybody has a responsibility to do that or anything.
  • #855
  • May 28, 2006 12:51pm May 28, 2006 12:51pm
Quoting jerseydevil20
Hmmm. There has been a pretty dramatic drop in the public Vegas/VWB discussions. Is it because of market conditions? Has the same lul in activity occurred in the PF? If not, it is a big deal if part of the intention is to sustain a vigorous public discussion... Not that anybody has a responsibility to do that or anything.
FF has seen tremendous growth over the past 5 months. much more than even merlin hoped for. the PF has grown but not nearly as much as the public side. this time of year is considered the slow time for almost any business because of school letting out/vacations etc. april thru may has always been the slowest time for my contracting business, so much so you can set a clock by it.
  • #856
  • May 28, 2006 5:36pm May 28, 2006 5:36pm
Quoting jerseydevil20
Hmmm. There has been a pretty dramatic drop in the public Vegas/VWB discussions. Is it because of market conditions? Has the same lul in activity occurred in the PF? If not, it is a big deal if part of the intention is to sustain a vigorous public discussion... Not that anybody has a responsibility to do that or anything.
Yup, I do think the drop in the Vegas/VWB discussion is due to the current market conditions. If I remember it right, it says that if you get 2-3 losses in a row, then it's a sign to get out of the market and wait for it to return to the tunnel. So if anyone is following this model, then he should have been out of the market. Not sure what connection this has with the PF (or maybe I'm just the one making the connection?)..

As for the PF, nope it's not happening to the PF. But if it did, I'm really not sure why too much discussion would be required. With the bunch of stuff that's in there, it will take more than a few months to learn them - that's if one has the patience. I think it's enough to make someone concentrate and learn for a while..

And lastly for the intention, I'm sure if one would join the PF, it would be mainly to learn, not for vigorous public discussion.
It's the up to the member if he wants to share the knowledge or not.
Like you said, not that anybody has a responsibility to do that or anything.

Have a nice trading week!

East
  • #857
  • Jun 7, 2006 2:57pm Jun 7, 2006 2:57pm
Hi Jim

The attatched chart is of Silver. It has a pin bar forming at retrace levels of 50% and 61.8%, from all that I have read this looks like it could become a good setup. From past things you have said I am looking at putting a buy order in at 50% retrace of the pin bar to get a better entry, the stop will then be just below the low of the pin bar. Have I analysied this correctly? Look forward to any advice.

Jon

PS I am only demo trading not live.
Attached Image
  • #858
  • Jun 7, 2006 3:09pm Jun 7, 2006 3:09pm
Sounds good, but I would buy a break of the pin bar.
  • #859
  • Jun 7, 2006 3:31pm Jun 7, 2006 3:31pm
Quoting ashoksagar
Sounds good, but I would buy a break of the pin bar.
Hi ashoksagar

The 2 options here seem to be enter on a retrace of the pin bar for lower stoploss or enter on break of the pin bar which gives more risk but also in a way does seem to be more sensible. With the retrace option there is always the possibility that it will retrace and just keep going. I do like the retrace option because I don't like having big stoplosses and I think it would be worth the risk to go with that option.

Thanks for your feedback, much appreciated.

Jon
  • #860
  • Jun 7, 2006 9:14pm Jun 7, 2006 9:14pm
Quoting Jon_uk
Hi Jim

The attatched chart is of Silver. It has a pin bar forming at retrace levels of 50% and 61.8%, from all that I have read this looks like it could become a good setup. From past things you have said I am looking at putting a buy order in at 50% retrace of the pin bar to get a better entry, the stop will then be just below the low of the pin bar. Have I analysied this correctly? Look forward to any advice.

Jon

PS I am only demo trading not live.
yes you could play a buy limit at a retracement of the pin or you could play a buy stop on a break of the pin. also what the heck price some options 2 or 3 months out and paper trade them also. nice job.
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