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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

  • #130,761
  • May 2, 2014 11:16pm May 2, 2014 11:16pm
Kanzler I completely get where you're coming from, I'm just gonna play the other side here and fill you in on some info you might not know. I have been around these forums for a while although I don't post much.

First: 99% of the info in this thread is nothing new and the senior members here readily acknowledge it. There is no "secret". Everything is plain jane and in your face and can be found for free all over the web and even in books. There is no "primary system" developed by Beau Diamond that you claimed J16 is promoting. This is simply not true. I was a member of the paid site for 1 month years ago and they do offer some mechanical systems, but that is seen as more of a bonus and something to try on the side. This thread and the private forum teach 100% discretionary price action trading. Support and resistance combined with candlestick patterns at its core. Again, nothing new.

Second: This thread has created some very profitable, professional traders. "Scant evidence" of profitability is again simply not true. One trader comes to mind who was borrowing money from family, losing constantly, and now trades professionally for a prop firm. I think his name was wizard. I'm sure he would acknowledge this thread as the main contribution to his eventual success. Another trader, raczekfx, has posted numerous equity curves and detailed account information backing up his trades. Mike who basically runs this thread now has posted plenty of live trades often as they are entered. Is there a ton of evidence of profitability? No. Is there in any thread? If there is I'd like to see it. I don't think so. Does that make all threads invalid?

Again I'm not trying to come at you here and I understand your concern, but I think in this case it may be uncalled for.
  • #130,762
  • May 2, 2014 11:19pm May 2, 2014 11:19pm
Quoting Kanzler
{quote} I haven't directly accused them of being conmen, but it's definitely suspicious that they worked so closely with one. Only that they used this failure of a system that was used in the Ponzi scheme as something legitimate. It tells me that they clearly don't know what they're doing when it comes to trading, as outlined in a previous post. Waste your money if you want though, it's not my loss.
I can assure you James is not a con man. I also bought into Beau's system many years back with James and Dial, and even admittedly was defrauded by him. He was also a trader, but in fact lost his shirt with many peoples money including my own (fortunately not a lot). Anyway, James and Dial have nothing to do with this man.
  • #130,763
  • May 2, 2014 11:26pm May 2, 2014 11:26pm
Quoting tlindle
Kanzler I completely get where you're coming from, I'm just gonna play the other side here and fill you in on some info you might not know. I have been around these forums for a while although I don't post much. First: 99% of the info in this thread is nothing new and the senior members here readily acknowledge it. There is no "secret". Everything is plain jane and in your face and can be found for free all over the web and even in books. There is no "primary system" developed by Beau Diamond that you claimed J16 is promoting. This is simply not...
Fair enough to fill me in. I haven't seen anything convincing myself but while I'm subscribed, I don't track the thread like a laser either, so it's possible I missed it. As far as Beau goes, he's old news and I'm sure they've changed their game plan since. But at one point, Diallist was promoting it as per the quote. Why they would shift gears just doesn't make sense to me now. Just my 2 cents, I appreciate the straightforward and respectful post.

Quoting diggsnoob
{quote} I can assure you James is not a con man. I also bought into Beau's system many years back with James and Dial, and even admittedly was defrauded by him. He was also a trader, but in fact lost his shirt with many peoples money including my own (fortunately not a lot). Anyway, James and Dial have nothing to do with this man.
Not now, of course. I'm talking about past associations. In either case the primary purpose was to bring the conviction up to the surface...I had no idea there was another scandal like that even out there with the J16 group aside from the one where they claimed Jacko was a good trader, lol.
  • #130,764
  • May 3, 2014 12:46am May 3, 2014 12:46am
Hi all,

EURAUD would be an interesting one to watch.

D1 shows a completion of a Three Buddha Top late March, broke through support and is now testing resistance.

MN shows the bulls making driving price up and it's hit the ceiling @ 1.54949, followed by indecision of a doji and a hammer, and BEOB.

Looks like the bears are going to take this one?
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  • #130,765
  • May 3, 2014 2:28am May 3, 2014 2:28am
Quoting aaron655
Hi all, EURAUD would be an interesting one to watch. D1 shows a completion of a Three Buddha Top late March, broke through support and is now testing resistance. MN shows the bulls making driving price up and it's hit the ceiling @ 1.54949, followed by indecision of a doji and a hammer, and BEOB. Looks like the bears are going to take this one? {image} {image}
Hard to tell.
There is no man on earth who would be able to predict you EURAUDs direction for the next 2-3 months.
- Bearish? Probably.
- Some extra positive ECB news? Bullish. Probably.
And that's why i stopped playing on the dailies too much. Large stops, bad RRs... Can you make money with them? Sure.

If price would go down and consolidate in a box for 10 days - and then it would break down - would you still say that it is going down due to the reversal you pointed out? Or it is simply because the demand under the 10 day consolidation couldn't hold?

1.4987 area short entry would have been great. I usually look at such levels with another "scope" and take a few RRs and get out.
You already have the good levels mate. Go down to 4H or 1H look for some PA patterns - try to develop some kind of system around it and there you go. You trade with 30-50pip stops instead of 150pip stops..

Just my thoughts.

Cheers
Stephen
It's all psychology...
  • #130,766
  • May 3, 2014 2:41am May 3, 2014 2:41am
Quoting Kanzler
{quote} Fair enough to fill me in. I haven't seen anything convincing myself but while I'm subscribed, I don't track the thread like a laser either, so it's possible I missed it. As far as Beau goes, he's old news and I'm sure they've changed their game plan since. But at one point, Diallist was promoting it as per the quote. Why they would shift gears just doesn't make sense to me now. Just my 2 cents, I appreciate the straightforward and respectful post. {quote} Not now, of course. I'm talking about past associations. In either case the primary...
Hello Kanzler!

You will hardly find any trading tutor who shares his trade journal / track record. So as a matter of fact im always skeptic if a trader wants to take my money for a few "secret setups". We both know that's bullshit.

If you have actually been around the james16 thread you should know what they teach. Nothing new, nothing revolutionary. (S/R + PA, - All the tutors talk about nearly the same patterns / price dynamics but in a bit different way. ) On the FF site they share it for free but the knowledge is scattered around in many different posts. On the PF it's summarized and you also get a bit more attention and faster answers for your questions. That's all. If you also have been involved with trading for a while now, you might know how important S/R levels and some basic PA setups can be. --> So they are not advertising/selling/promoting crap.

Nothing but a group of people who teach the basics at an "above average level". As for the Diallist thing i have no idea why you are making such a big deal out of it.

Cheers
Stephen
It's all psychology...
  • #130,767
  • May 3, 2014 2:56am May 3, 2014 2:56am
Quoting diggsnoob
{quote} I can assure you James is not a con man. I also bought into Beau's system many years back with James and Dial, and even admittedly was defrauded by him. He was also a trader, but in fact lost his shirt with many peoples money including my own (fortunately not a lot). Anyway, James and Dial have nothing to do with this man.
...always suspicious of people who have low post count who suddenly come back to post some kind of praise/testimonial
  • #130,768
  • May 3, 2014 11:20am May 3, 2014 11:20am
Hi Guys

What do you think about this one?
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  • #130,769
  • May 3, 2014 11:54am May 3, 2014 11:54am
$GBPJPY Thoughts

http://screencast.com/t/lW1xJ2RP6
  • #130,770
  • May 3, 2014 12:01pm May 3, 2014 12:01pm
Weekly Charts

$AUDCAD http://screencast.com/t/cfMeK47ko

$EURNZD http://screencast.com/t/yUklbyIGlpn
  • #130,771
  • May 3, 2014 12:20pm May 3, 2014 12:20pm
Quoting Desmondo
Hi Guys What do you think about this one? {image} {image}
Desmond, the PB is too small and a better way to play out for me would be a breakout of the pattern on the 4hr.

Al.
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  • #130,772
  • May 3, 2014 12:29pm May 3, 2014 12:29pm
Quoting Desmondo
Hi Guys What do you think about this one? {image} {image}

Also there is Potential Support pretty close

http://screencast.com/t/59vCJzmzVSX5
  • #130,773
  • May 3, 2014 12:47pm May 3, 2014 12:47pm
Quoting njodogg
$GBPJPY Thoughts http://screencast.com/t/lW1xJ2RP6
NJ, there is a strong support confluence just below the BEOB.
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  • #130,774
  • May 3, 2014 1:41pm May 3, 2014 1:41pm
Thx a lot Albus & Njodogg!

What about AU?
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  • #130,775
  • May 3, 2014 1:50pm May 3, 2014 1:50pm
Quoting Desmondo
Thx a lot Albus & Njodogg! What about AU? {image}
I like better but would like to play this to the down side on a break Weekly Chart down trend IMO

http://screencast.com/t/uaON6paI
  • #130,776
  • May 3, 2014 1:55pm May 3, 2014 1:55pm
I paid my $129/month x 12 months and now I'm a lifer. Damn proud of it too!!!. I have studied all of James' material religiously and watched all of Mike's webinars multiple times. I am a better trader because of it.

I post infrequently but I read every post every day in this wonderful thread. It is probably one of about 2 or 3 commercial threads that I believe have any credibility. I must have read the first 100 or so pages about 20 times by now just to take in the genius of James himself. Simple, basic yet so effective if used properly.

Naysayers, mudslingers and dirt diggers come and go spewing venom and hoping to come up with some precious bit of historical information they think will drive a final nail in J16's coffin. They may say they bring this trash up altruistically to save some unsuspecting newbie from paying an "enormous" $129.00/month but I think most of us know the truth. Compare that to the $10,000 one commercial thread charges to be in their school. What about Sam Seiden and his Academy charging thousands. So in my view $129.00/month is a mere pittance and likely is barely enough to pay for the fees to maintain the J16 website. Does anyone really think James or anyone else in J16 is getting rich of this $129.00/month. Get real!

Every organization is bound to have some bad apples. Some are rotten from the beginning and some go rotten later. It doesn't mean the organization as a whole is bad.

Although Mike doesn't present any "proof" I have know doubt he is a profitable trader and one who genuinely wants to help new and aspiring traders. Any naysayer who would listen to one or two of Mike's webinars would instantly realize this. Mike listens to all the trash and somehow remains dignified in his responses.

I have incorporated J16 material into my own trading. I will forever use engulfing bars, pinbars, etc, etc. in my trading. Those with their simple-minded views of these price action bars are just that....simple-minded. While the PA bars themselves are simplistic it is how they are used in a trading plan that actually becomes rather complex.

Those bashing J16 and it's concepts only need do one thing....Present their own successful method they claim is so much better. After all if you don't have a successful trading method then what are you comparing to. Come on! post up or shut up!
  • #130,777
  • May 3, 2014 2:10pm May 3, 2014 2:10pm
Quoting Kanzler
I've known that the J16 group smelled rotten for a while. I just didn't know exactly what it was, beyond knowing that they had praised long banned fraudster Jacko. This is the same group that endorsed a convicted fraud and pimped his "system" not so long ago. Nothing has changed - they still know nothing more than you could find from the School of Pipsology (extremely basic stuff) and are just here to suck your money from your wallet. Let me show you the evidence. This first quote is from "James16 Group - Admin/Developer" diallist. {image} {quote}...
Honestly Kanzler just read your posts as they progress from this one to your last post here. Obviously you have taken some "out-of-context" "gem" you thought was so damning in a feeble attempt to smear J16. Your just another mudslinger with proof of nothing. You should really find a toilet before you crap.
  • #130,778
  • Edited 2:38pm May 3, 2014 2:20pm | Edited 2:38pm
Quoting Desmondo
Thx a lot Albus & Njodogg! What about AU? {image}
Hi Desmondo,This one looks good to me. just like you, I'd rather go long at the retracement of pin bar. your TP would be my TP1 and I expect further up move.
  • #130,779
  • May 3, 2014 2:36pm May 3, 2014 2:36pm
Quoting Winston Reed
{quote} Honestly Kanzler just read your posts as they progress from this one to your last post here. Obviously you have taken some "out-of-context" "gem" you thought was so damning in a feeble attempt to smear J16. Your just another mudslinger with proof of nothing. You should really find a toilet before you crap.
As much as you expect me to stoop to your level in reply to your trite toilet euphemisms, I'm going to take the higher road. What I pointed out was not "out of context" and pointing out the facts is not "smearing" someone. A smear campaign is by definition when someone uses something untrue or unfair in an attack. What I have done is used factual information (a quote proving past association by one of the administrators here and a news article, both sourced) to bring something I perceived as important to light. You're free to judge things by your own standards but I would never make dealings with a group that pushed the system of a $37,000,000 ponzi scheme mastermind, even if accidentally.

Now if you'd like to discuss the facts of the matter instead of dismissing this issue in such a cavalier manner, I'll be glad to open up dialogue as I have with several other posters who have made valid counterarguments in a respectful manner. Otherwise you can count yourself as the newest member of my ignore list.
  • #130,780
  • May 3, 2014 2:45pm May 3, 2014 2:45pm
Quoting Kanzler
{quote} As much as you expect me to stoop to your level in reply to your trite toilet euphemisms, I'm going to take the higher road. What I pointed out was not "out of context" and pointing out the facts is not "smearing" someone. A smear campaign is by definition when someone uses something untrue or unfair in an attack. What I have done is used factual information (a quote proving past association by one of the administrators here and a news article, both sourced) to bring something I perceived as important to light. You're free to judge things...
I look forward to the day that you or those like you find credible evidence that J16 is what you hope it to be. You should start a thread just for that purpose so I and others can follow along more easily as you investigate and come up with more dirt. But while you are doing this I and many others will continue trading the J16 way. By the way...I couldn't be more proud to be on your ignore list. Carry on!!!
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