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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

  • #130,221
  • Mar 17, 2014 2:03am Mar 17, 2014 2:03am
Quoting PhAnTi'
{quote} Thank you for your post. Yes, it is possible that we test lows here, of course. Problem is that I dont want to miss a cheap price. On the m15 we do have a range right now, i entered in the middle of it (see red line, that was my inital entry + 12 pips spread). Since there was no lower low than the one after the huge drop on the chart, i see this pair going at least to 1.064x , which will be a tough supply. Dont mind asking if s.th stays uncleared Best, Jonas {image}

also, why turned this thread so quiet? Where r all the regulars? :-/
Hero calls followed by margin calls...
  • #130,222
  • Mar 17, 2014 3:01am Mar 17, 2014 3:01am
Yes, its so slow. Its a pity.
If not up, then down, otherwise sideways :-)
  • #130,223
  • Mar 17, 2014 3:20am Mar 17, 2014 3:20am
Quoting PhAnTi'
{quote} Thank you for your post. Yes, it is possible that we test lows here, of course. Problem is that I dont want to miss a cheap price. On the m15 we do have a range right now, i entered in the middle of it (see red line, that was my inital entry + 12 pips spread). Since there was no lower low than the one after the huge drop on the chart, i see this pair going at least to 1.064x , which will be a tough supply. Dont mind asking if s.th stays uncleared Best, Jonas {image}

will be very interesting if price touches this level again.

Attached Image (click to enlarge)
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best,
Jonas
Hero calls followed by margin calls...
  • #130,224
  • Mar 17, 2014 8:36am Mar 17, 2014 8:36am
Quoting nwo-trader
Space is a vaccuum, nature abhors it This PB broke hard and fast last night (60 Pips in a minute) {image}
Big picture view of AUDUSD

Monthly IB, Weekly BUOB followed by weekly IB, Daily PB I'm still in followed by the I4B on BRN Friday (Dan Gilbert where are you?) :o)
Attached Image(s) (click to enlarge)
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Price is beautiful. A repetitive method is a competitive method.
  • #130,225
  • Mar 17, 2014 8:55am Mar 17, 2014 8:55am
Quoting dimosar
Hi all, just a quick question. Is the james16 group/pf still active? I tried emailing a while ago but still no reply. I am interested in enrolling but it seems the founders are understandably not as keen as they used to. Keep up the good work here! Its great!
Hey Dim

I was away on a small break this past week, but yes we are as active as ever as well as going to be releasing a brand new site soon. Shoot me a PM or another email if you have any questions

Best
Mike
  • #130,226
  • Mar 17, 2014 9:07am Mar 17, 2014 9:07am
Quoting mbqb11
{quote} my updated stop loss on LTXC been a nice ride. {image}
here is my final update to this trade. Trailing stop hit on vacation last week
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  • #130,227
  • Mar 17, 2014 10:21am Mar 17, 2014 10:21am
Hey Mike,
Hope you had a nice mini vacation. If I recall you are somewhat into weightlifting and body building? I've recently started to clean bulk and was wondering if you also saw any parallels between the slow steady progress of building mass, and see a possible relation to the slow steady progress of building an account? They say the best gains are slow gains, and I've just recently kind of seen the light in that respect with trading. It's a mindset and a lifestyle, and if you rush it too much you can hurt yourself, or blow out an account. Some people may be inclined to cheat (performance enhancing drugs / excessive risk), but that doesn't always end well. Revelations. lol :o)
Price is beautiful. A repetitive method is a competitive method.
  • #130,228
  • Mar 17, 2014 11:32am Mar 17, 2014 11:32am
Quoting nwo-trader
Hey Mike, Hope you had a nice mini vacation. If I recall you are somewhat into weightlifting and body building? I've recently started to clean bulk and was wondering if you also saw any parallels between the slow steady progress of building mass, and see a possible relation to the slow steady progress of building an account? They say the best gains are slow gains, and I've just recently kind of seen the light in that respect with trading. It's a mindset and a lifestyle, and if you rush it too much you can hurt yourself, or blow out an account. Some...
Hey NWO

It was sure nice to get some warm weather, back to the cold for now

I think you are right. I am not a huge body builder I just like to stay in shape feel and look good etc. But those that try crash diets, try to get in shape 6 weeks before summer etc. It will never work or be sustained. I workout for a very short period of time because I stick to the slow and steady so I never get to far away from what I am looking to do.

Yes trading is very much slow and steady in my view. Or as we would call it rifle shots as opposed to shotgunning your trades. And their are NO shortcuts in anything

Good to hear from you
Mike
  • #130,229
  • Mar 17, 2014 11:33am Mar 17, 2014 11:33am
Quoting PhAnTi'
{quote} .... Problem is that I dont want to miss a cheap price. ...{image}
that sentence is gold (for me, at least).
thanks Jonas, that was really helpful.

rgds,
Dinta
  • #130,230
  • Mar 17, 2014 11:51am Mar 17, 2014 11:51am
Quoting nwo-trader
{quote} Big picture view of AUDUSD Monthly IB, Weekly BUOB followed by weekly IB, Daily PB I'm still in followed by the I4B on BRN Friday (Dan Gilbert where are you?) :o) {image} {image} {image}
Hi nwo,

I think we're looking the the same AUD/USD setup here.
Confluence on the upper bound is great, so a swift push through would see me enter on a pullback.

Using the Jarroo style on this one

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Take care,
W
It's a sport, an artform and a science.
  • #130,231
  • Mar 17, 2014 4:29pm Mar 17, 2014 4:29pm
Just want to add my two cents to this thread and tell people to be careful, so they don't lose their hard earned money.

This is a FAIR WARNING.

Be careful with any system/method or whatever you want to call it. And also be careful with James16 method/system or whatever...

There is no such system and all indicators LAG BIG TIME. James16, same as all other methods/systems/indicators are PURE RANDOMNESS.

You can win some trades while you are using James16 or DIALLIST (Scrooge McDuck) method and you will believe that it was thanks to James16 or DIALLIST, when in fact, it was just PURE RAMDOMNESS... One day you will LOSE big time, using the same "so called logic" of James16 and DIALLIST, and you will ask everyone: "Heck, why am I losing now?? I am doing exactly the same in exactly the same environment and with the same variables than when I won??"... It's pure randomness...

When you lose everything and complain about it, these "people from FOREX" will come and answer you anything like this:

_Well, it's your fault
_You you did bad trades
_You need to learn MM
_You need to join JAMES16 PAID FORUM. (Go figure)
_The candle was not large enough
_You are still not prepared, keep trading via DEMO 6 more months
_You need to work on Trading Psychology
_You need to read these books
_Keep reading the James Price Fiction Thread
_You cannot plan to win consistently with technicals alone.
_You simply aren't made for this.
_Well you only traded for 3 years. If a Doctor Studies 10 years in University you need to trade 10 years before being successful
_To be profitable at forex takes a lot much more effort than 99% of people are committed to
_You need to work harder and harder and harder
_You need to keep BURNING Accounts, a good trader, before becoming good, they burned like 10 accounts.
_and BLA BLA BLA...


Fair warning here.

Ciao.
The Black Swan: The Impact of the Highly Improbable
  • #130,232
  • Mar 17, 2014 4:39pm Mar 17, 2014 4:39pm
Quoting MapleLeaf
Just want to add my two cents to this thread and tell people to be careful, so they don't lose their hard earned money. This is a FAIR WARNING. Be careful with any system/method or whatever you want to call it. And also be careful with James16 method/system or whatever... There is no such system and all indicators LAG BIG TIME. James16, same as all other methods/systems/indicators are PURE RANDOMNESS. You can win some trades while you are using James16 or DIALLIST (Scrooge McDuck) method and...
...so what do you suggest? nobody can make it? and if a few do how do they do it?
  • #130,233
  • Mar 17, 2014 5:20pm Mar 17, 2014 5:20pm
Quoting dimosar
{quote} ...so what do you suggest? nobody can make it? and if a few do how do they do it?
Tell me ONE PERSON in this WORLD, who made a living for the last 10 years, trading EXCLUSIVELY RETAIL FOREX from his home (and not associated to any of the BROKERS and not linked to any of the trillion dollars manipulating VULTURE hedge founds like PIMCO, Morgan and Stanley, Goldman Sachs, you name it...)...

Tell me ONE PERSON.

You won't find anyone...

And I'm not asking about a 20 or 30 years record. Just 10 years...

You won't find anyone...

Even if you gave 10 guys, or 20... 20 guys In millions, it would a ridiculous small number... But you can't even find 1 PERSON. Like you cannot find one person who made a living playing roulette for the last 10 years.

Nothing else to add.
The Black Swan: The Impact of the Highly Improbable
  • #130,234
  • Mar 17, 2014 5:31pm Mar 17, 2014 5:31pm
Quoting MapleLeaf
Just want to add my two cents to this thread and tell people to be careful, so they don't lose their hard earned money. This is a FAIR WARNING. Be careful with any system/method or whatever you want to call it. And also be careful with James16 method/system or whatever... There is no such system and all indicators LAG BIG TIME. James16, same as all other methods/systems/indicators are PURE RANDOMNESS. You can win some trades while you are using James16 or DIALLIST (Scrooge McDuck) method and...

ML,

Last weekend I've been pointlessly browsing threads anywhere on FF that looked like something interesting.
I've seen my fair share of your posts/threads that are nothing more than whining about yet another method you've tried and failed at.
always in the 3rd person as it seems, which is interesting.
Another interesting thing about your barf here, is that you bash both James16 and dialist, 2 of the traders I know of, that have been around here at FF from it's very beginning have a track record of stunning profitability.
James by using very intuïtive entry methods based on patterns that appear at certain locations; Dail, uses an (almost) completely mechanical strategy, maybe multiple.
Both guys still are legends here for what they posted back then, would it really all be fanboys who fake their results and photoshop their charts to fit profit?

Another thing I'd like to say is that I wonder how you can think of so many reasons why your trading may not be profitable and yet still point the blame to anyone but yourself.

Put up a trade explorer, link a thread and you'll get constructive responses, stuff that can actually turn your trading around.
You said youself:

True:
_Well, it's your fault (But from now on, let's call it responsibility instead of fault.)
_You you did bad trades (You may have, but you could learn from this.)
_You need to learn MM (If you haven't already, go do this, you'll find out quickly why everybody that's serious would suggest this.)
_The candle was not large enough (refers to the 'bad trade' but this could be a reason.)
_You are still not prepared, keep trading via DEMO 6 more months (6 months doesn't do the trick for me, demo untill you can show yourself a profit.)
_You need to work on Trading Psychology (Pretty vague, but definitely true. A big part of your results come through mindset, good and bad.)
_Keep reading the James Price Fiction Thread (If this is a method that's appealing to you, that would be a good thing to do, engage, keep with it for some time.)
_You simply aren't made for this. (You put responsibility besides yourself, change that, or this may sadly be the most true statement of all for you.)
_You need to work harder and harder and harder (True, yet, you shouldn't take it too literally, trading takes patience, 'working' mindset may just be detrimental to this, but you should figure this out for yourself.)
_To be profitable at forex takes a lot much more effort than 99% of people are committed to (with side are you on?)

False:
_You cannot plan to win consistently with technicals alone. (Ofcourse you can't plan profitability, but it's possible to make money in trading technical analysis solely. Do your homework, read some 100 pages of this thread and see for yourself.)
_You need to read these books (Some may be good, but reading a book won't get you anywhere, so practice trading yourself, using the same method, even if you lose for a long time. This method has proven itself year after year, so following this thread would be a good start.)
_You need to keep BURNING Accounts, a good trader, before becoming good, they burned like 10 accounts. (Total bullshit.... just think about it.....)
_You need to join JAMES16 PAID FORUM. (You don't need to, read post #1, CAREFULLY!)


Take care,
W
It's a sport, an artform and a science.
  • #130,235
  • Mar 17, 2014 5:48pm Mar 17, 2014 5:48pm
Quoting MapleLeaf
{quote} Tell me ONE PERSON in this WORLD, who made a living for the last 10 years, trading EXCLUSIVELY RETAIL FOREX from his home (and not associated to any of the BROKERS and not linked to any of the trillion dollars manipulating VULTURE hedge founds like PIMCO, Morgan and Stanley, Goldman Sachs, you name it...)... Tell me ONE PERSON. You won't find anyone... And I'm not asking about a 20 or 30 years record. Just 10 years... You won't find anyone... Even if you gave 10 guys, or 20... 20 guys In millions, it would a ridiculous small number... But...
some of the stuff you say is actually very true. Some of it couldn't be further off

I will say a few things. But if you don't keep your posts constructive I also won't allow flaming in this thread.

Do most people fail. ABSOLUTELY. This is a business like any other and I agree I think more then 95% are failing in retail trading. You are DEAD right about that. Why? It's a TOUGH business with many hurdles, and most don't treat it like a business and are doomed if they don't.

Do people trade profitably YES. Here is a little secret. Most that do , do NOT trade for a living. The people I know including myself who trade profitably use trading as a means of wealth building. Use trading as another way to bring income in. Why? Well why only trade for a living when you can do many things to generate income. Also most people would need a HECK of a large account to trade only for a living. At least where I am from. I live in NYC and making 100k a year for a single person is nothing. I mean literally a study suggests it's equivalent to 40k in most places. I certainly don't want to make just 100k a year. So you would need a huge account to not only support a lifestyle but to also GROW your wealth. That's key. You don't want to pay taxes, health insurance and res your bills and be back to square one. At least I don't. Of course everyone has a different situation but for most making trading your #1 stream of income is either VERY far off or just in my view not the only route to explore it as. Why is that where people think to go right away. Those are people who simply hate their jobs and want out as fast as they can. So they GAMBLE. I do not gamble when I trade.

But is it possible with discipline and a sound method to trade profitably? Yes it is. Many people here do it and it takes a lot of time and patience. But most people wan't it over night. Most want to take a small tiny account and quit their job. All kinds of unrealistic things.

In fact if many would shift their mentality and realize what compounding can do. What a FEW great trades a month could do. You could see profitability. You would change your mind quickly about this business. But yes you are correct in saying most will not go this route(in fact I am talking about most never even have a glimpse of it cause they chase a false dream). But you are lumping many of us in with things that are also untrue

Again I am saying this because I want to open eyes and heck maybe even yours if you want to stick around for a bit. I'd be glad to help you as anyone else. If this turns into a flame though I will have it all removed because this thread we stick to trading and helping trading. This of course is important stuff to so I have no problem discussing that aspect of it

Hope that helps someone
Mike
  • #130,236
  • Mar 17, 2014 5:50pm Mar 17, 2014 5:50pm
Quoting MapleLeaf
{quote} Tell me ONE PERSON in this WORLD, who made a living for the last 10 years, trading EXCLUSIVELY RETAIL FOREX from his home (and not associated to any of the BROKERS and not linked to any of the trillion dollars manipulating VULTURE hedge founds like PIMCO, Morgan and Stanley, Goldman Sachs, you name it...)... Tell me ONE PERSON. You won't find anyone... And I'm not asking about a 20 or 30 years record. Just 10 years... You won't find anyone... Even if you gave 10 guys, or 20... 20 guys In millions, it would a ridiculous small number... But...

ok i hear ya.. not sure if i agree though.. this is not an easy business but i feel its doable (at least for some)..
  • #130,237
  • Mar 17, 2014 5:53pm Mar 17, 2014 5:53pm
MapleLeaf is one of those people you just have to add to your ignore list. His sole goal is to "warn" poor Forexers about why they need to trade more than Forex. There is plenty of truth-bending in many of his posts, and a lot of his "logic" is anything but logic. Why does he arbitrarily choose 10 years as the cut off mark? Why do I have to study Forex for 10 years before I can trade? I'm sure there is some sort of not so altruistic reason for his messages, but it is hard to see at the moment. Maybe he just wants to kill FF or start recommending stock brokers to us in a month or two.

James16 does a great job of warning people what they should be risking. I got my start on James16 material a couple years back, and while I can't say I actively trade his method (which I why I don't post here), he gave me what I needed to develop my own trading style. Of course, I'm always on the lookout to improve, which is why I'm still on FF learning new concepts. One thing you get with this thread that you don't find anywhere else on FF is brutal honesty. Anyone who reads this thread sees it in a second. Someone (besides MapleLeaf) correct me if I'm wrong, but I think James16 himself said he put in a long time testing this method before ever even starting this thread.

What I can say is this: no one makes profits every month. Even people who trade multiple instruments and are big names(Warren Buffett, George Soros, etc.) don't make profits every month. That, however, doesn't matter. It's all about what the long term holds.

Don't take my word for it. Look at mbqb11. The guy has around for a long time. Forex is a harsh world. Once you begin to understand how it works you no longer fear it. All the fear mongering you see from people like MapleLeaf becomes nothing more than a bad joke.

As much as I'm sure MapleLeaf will respond to my post with petty comments about me not posting my winning record, not trading for ten years, providing no evidence, etc. etc., know this: there are successful people trading purely Forex, and they don't feel the need to prove anything to anyone. Go back to 1980, and do bar-by-bar testing of the James16 strategy. You'll find it works.

Lastly, the most important lesson this thread taught me was don't take anything anyone says (including me) with a grain of salt until you test it yourself. Ultimately, everything you're told is baseless until YOU do the experiments and YOU collect the data and YOU prove that statistically, this method works.

Best of luck to everyone here! Happy testing
I'm a dog chasing cars.
  • #130,238
  • Mar 17, 2014 6:38pm Mar 17, 2014 6:38pm
Gradually harvesting pips of trades in profit. Please could somebody tell me how you guys do it? Or at least point me in the right direction where I can find out how. Thanks all.
  • #130,239
  • Mar 17, 2014 6:43pm Mar 17, 2014 6:43pm
Quoting wnabo
Gradually harvesting pips of trades in profit. Please could somebody tell me how you guys do it? Or at least point me in the right direction where I can find out how. Thanks all.
First thing that you should definitely do if you're serious about getting into this method is going back to Post #1

There are a lot of links to be found after reading the first bit.
All of them are invaluable posts to build your understanding of the material.
Furthermore, keep following what is being posted in real time.

We're all learning here, so ask whatever needs clearing up and charts are more than welcome!

w
It's a sport, an artform and a science.
  • #130,240
  • Mar 18, 2014 2:03am Mar 18, 2014 2:03am
Quoting mbqb11
{quote} some of the stuff you say is actually very true. Some of it couldn't be further off I will say a few things. But if you don't keep your posts constructive I also won't allow flaming in this thread. Do most people fail. ABSOLUTELY. This is a business like any other and I agree I think more then 95% are failing in retail trading. You are DEAD right about that. Why? It's a TOUGH business with many hurdles, and most don't treat it like a business and are doomed if they don't. Do people trade profitably YES. Here is a little secret. Most that...

NYC? .... wish I could spend my holidays there sometime...

anyway don't gonna drop my 2 cents to this topic, I'm here to trade.
Everybody should decide for himself how to trade,what to trade and especially how much to trade.

This Website is not to grow up people, it is more about talking about systems and charts.
So what's your guys line today? Any setups building up?

Best,
Jonas
Hero calls followed by margin calls...
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