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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

  • #130,821
  • May 7, 2014 12:59pm May 7, 2014 12:59pm
Quoting Donkey
{quote} Just a question...playing devil's advocate a bit. Won't you need the same patience on demo? I would think you would be waiting for the same setups and would have the same wait time between setups if you are trading the same setups and watching the same number of instruments. To combat the 50-100 small gains in a month I suggest setting up a profit sharing while on a small account. Allow yourself to deposit a percentage (or multiple) into your trading account if you have a profitable month. This will allow you to increase your profit potential,...
This is a good point, but if each trade is worth thousands (albeit demo money) you would be more willing to wait. You don't risk any real money going for small wins. It all comes down to what works for you though, no one way is better than the other. I just found small accounts haven't worked for me, but they work for you so it's all good!.
  • #130,822
  • May 7, 2014 1:50pm May 7, 2014 1:50pm
Quoting Bullet
{quote} This is a good point, but if each trade is worth thousands (albeit demo money) you would be more willing to wait. You don't risk any real money going for small wins. It all comes down to what works for you though, no one way is better than the other. I just found small accounts haven't worked for me, but they work for you so it's all good!.
Hey Bullet

Im with Donkey on this. My advice (if it means anything) is to just open a small live account, say £500 and start trading using the CORRECT Risk, MM, entry, stop loss etc etc. Trading a small live account will force you to learn and accept your currect trading psychology and find ways to improve. Demo trading is great if you dont really know what your doing and just starting out but once you understand J16/PA I would say start on a SMALL live account and do away with demo.

Take care
Dan
  • #130,823
  • May 7, 2014 2:03pm May 7, 2014 2:03pm
Quoting dan89
{quote} Hey Bullet Im with Donkey on this. My advice (if it means anything) is to just open a small live account, say £500 and start trading using the CORRECT Risk, MM, entry, stop loss etc etc. Trading a small live account will force you to learn and accept your currect trading psychology and find ways to improve. Demo trading is great if you dont really know what your doing and just starting out but once you understand J16/PA I would say start on a SMALL live account and do away with demo. Take care Dan
Ok thanks for the advice, as I said in my last (few) posts, small accounts don't work for me, I have enough to start a largish account but don't want to risk real money until I have got into the swing again (trader this and other methods before).

Cheers

Mark
  • #130,824
  • May 7, 2014 7:21pm May 7, 2014 7:21pm
Quoting bopuc
{quote} Hi Neytiri, this is what I discovered, so far. http://www.forexfactory.com/showthre...76#post6777376 http://www.forexfactory.com/showthre...54#post7178954 http://www.forexfactory.com/showthre...93#post7196493 http://www.forexfactory.com/showthre...88#post7425988...
Thanks
  • #130,825
  • May 7, 2014 11:17pm May 7, 2014 11:17pm
i'm back from my vacation. Wiped out to say the least but had a blast and good to be home. Saw some great things and really enjoyed Sonoma(a shot from Coppola vineyards)

I'll be spending the rest of the week catching up on things, hope all is well with everyone I see some fun stuff happened in my absence
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  • #130,826
  • May 7, 2014 11:45pm May 7, 2014 11:45pm
Quoting mbqb11
i'm back from my vacation. Wiped out to say the least but had a blast and good to be home. Saw some great things and really enjoyed Sonoma(a shot from Coppola vineyards) I'll be spending the rest of the week catching up on things, hope all is well with everyone I see some fun stuff happened in my absence {image}
Glad to see you Mike!
There was guy (Kanzler) who pointed out that Diallist praised a guy named Beau, who was a fraud. I think that was the greatest "event" of the past week

Cheers,
Stephen
It's all psychology...
  • #130,827
  • May 7, 2014 11:59pm May 7, 2014 11:59pm
Quoting LamerTrader
{quote} Glad to see you Mike! There was guy (Kanzler) who pointed out that Diallist praised a guy named Beau, who was a fraud. I think that was the greatest "event" of the past week Cheers, Stephen
lol yes I got some emails over it, seems to happen every time I take a few days off

Glad to see you all at it, just getting back to my charts, seems that we are still quite sideways on a lot of stuff too though


Mike
  • #130,828
  • May 8, 2014 3:34am May 8, 2014 3:34am
Quoting LamerTrader
{quote} Hello Kanzler! You will hardly find any trading tutor who shares his trade journal / track record.
Ive always wondered this. Cant find a single tutor/website that charges to teach fx trading that actually have a track record ...

Take care
Dan
  • #130,829
  • May 8, 2014 3:50am May 8, 2014 3:50am
Quoting dan89
{quote} Ive always wondered this. Cant find a single tutor/website that charges to teach fx trading that actually have a track record ... Take care Dan
Haha. Exactly...

I especially like it when the guy says "I have been trading futures/commodities for the last 11 years. I invested in the home/mortgage business and i got a bit broke - but now im back to forex, sharing with you my 11 years of experience. Then he charges for his forum, where he teaches some setups under MT4...
The sad thing is that until someone doesn't spend a few months here and there can't recognize these fakers...

BTW - you mentioned earlier that you took a bit off from the forums and that's when you found the true "yourself".
Funny enough - I did the same and i found also a lot of things out

"The greatest mistake I ever made was that I wanted to follow others"

Cheers,
Stephen
It's all psychology...
  • #130,830
  • May 8, 2014 3:58am May 8, 2014 3:58am
Quoting LamerTrader
{quote} Haha. Exactly... I especially like it when the guy says "I have been trading futures/commodities for the last 11 years. I invested in the home/mortgage business and i got a bit broke - but now im back to forex, sharing with you my 11 years of experience. Then he charges for his forum, where he teaches some setups under MT4... The sad thing is that until someone doesn't spend a few months here and there can't recognize these fakers... BTW - you mentioned earlier that you took a bit off from the forums and that's when you found the true "yourself"....
True say LT,

Does anyone know of a 'teacher' that has a proven track record ???

Yeah mate, I just stopped looking at the forums and just started doing my own thing. The problem with all these threads is that there is just too much noise in the form of everyones trade ideas and opinions. One person puts up a chart saying this and that, and you will get multiple replies stating the opposite. I doesnt help anyone including the OP and only serves to confuse all the new comers. As I said before though, I post a few charts here and there for the few people who have asked me to do so. I dont really look at the replies all that much.

Take care
Dan
  • #130,831
  • May 8, 2014 4:17am May 8, 2014 4:17am
Quoting dan89
{quote} True say LT, Does anyone know of a 'teacher' that has a proven track record ??? Yeah mate, I just stopped looking at the forums and just started doing my own thing. The problem with all these threads is that there is just too much noise in the form of everyones trade ideas and opinions. One person puts up a chart saying this and that, and you will get multiple replies stating the opposite. I doesnt help anyone including the OP and only serves to confuse all the new comers. As I said before though, I post a few charts here and...
This might be completely heretical of me to metion, and some of the more experienced folk can point that out if its true, but I just discovered this chap recently.
http://www.theliononline.net/Free_Content_Library.html

Disclaimer: i didn't vet him myself as Im not looking for a tutor, but this guy is one of those 'tutor types' but he posts his own live trades which you can 'mirror' (the 'track record' you might be looking for) and apparently 'still answers his phone'... i guess that's good... he also has some free content, so I would wager a small bet he's legit...
But he does (to some extent) seem to sound like / present himself like the other dodgy tutor types that are looking to make some easy money back from noobs that they lost from their glory days trading in the 90s, I guess it's hard to shake that off when they're so many of them.

lol not sure im making him sound very good here, but maybe take a look and let us know if he's above board
PS There's also some free youtube content from him too, that much I dabbled in myself briefly and it was kinda interesting
  • #130,832
  • May 8, 2014 5:09am May 8, 2014 5:09am
Quoting gjgjg
{quote} This might be completely heretical of me to metion, and some of the more experienced folk can point that out if its true, but I just discovered this chap recently. http://www.theliononline.net/Free_Content_Library.html Disclaimer: i didn't vet him myself as Im not looking for a tutor, but this guy is one of those 'tutor types' but he posts his own live trades which you can 'mirror' (the 'track record' you might be looking for) and apparently 'still answers his phone'... i guess that's good... he also has some free content, so...
Hey man,

Honestly he's the same as everyone else. I dont see a track record (broker/trade statement). If you believe that he sounds like a dodgy tutor looking to make some easy money then you a probably right.

Take care
Dan
  • #130,833
  • May 8, 2014 8:52am May 8, 2014 8:52am
Good day to all. So will my operation from 3 days ago, trading it take for the presence of an out fake, as I call Ghous at the time, accompanied by a large bearish divergence on the MACD, today the price is hitting a new medium, and more likely to continue downward, and that closing the day yesterday we can see a bearish engulfing bar, accompanied by the loss of strength of the uptrend showing ADX.
Experts will be able to give better insights about it. Mbqb11 nice to have that again, your comments are welcome. Thank you.
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  • #130,834
  • May 8, 2014 9:33am May 8, 2014 9:33am
Quoting dan89
{quote} Hey man, Honestly he's the same as everyone else. I dont see a track record (broker/trade statement). If you believe that he sounds like a dodgy tutor looking to make some easy money then you a probably right. Take care Dan
their are plenty of threads out there to discuss other educators(even ones to bash us) etc. Lets keep this thread to j16 trading, that's what it's here for. For those that don't want to post that's fine, but please keep that to other threads so I don't have to spend time cleaning things up as it takes away from the content that is shared on this thread

Thanks guys
Mike
  • #130,835
  • May 8, 2014 9:36am May 8, 2014 9:36am
Quoting cesar8
Good day to all. So will my operation from 3 days ago, trading it take for the presence of an out fake, as I call Ghous at the time, accompanied by a large bearish divergence on the MACD, today the price is hitting a new medium, and more likely to continue downward, and that closing the day yesterday we can see a bearish engulfing bar, accompanied by the loss of strength of the uptrend showing ADX. Experts will be able to give better insights about it. Mbqb11 nice to have that again, your comments are welcome. Thank you. {image}
this is a nice strong 2 day pinbar(which is the easiest way to view it). It did retest the last swing which is always a great sign. Only issue is the box we are in. This is something that I personally like to avoid, OR I think one needs to protect themselves.

We can see we are essentially in one big box and that puts us right near the FTA near that middle of the box due to a lack of space. Unless this area breaks hard, it can make trade mgmt rather tough

Thanks for the welcome back C
Mike
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  • #130,836
  • May 8, 2014 10:15am May 8, 2014 10:15am
Quoting mbqb11
{quote} this is a nice strong 2 day pinbar(which is the easiest way to view it). It did retest the last swing which is always a great sign. Only issue is the box we are in. This is something that I personally like to avoid, OR I think one needs to protect themselves. We can see we are essentially in one big box and that puts us right near the FTA near that middle of the box due to a lack of space. Unless this area breaks hard, it can make trade mgmt rather tough Thanks for the welcome back C Mike {image}
this is the scenario I mean too C]

price bounced right as we would expect at the FTA which is where all space is gone and price is at that midpoint. So if you bough a break of the bar you had some profit but what do we do? Without more info we are often left handcuff to either hold and HOPE we move through, or we take a bigger loss and those chew a trader up. Also because the previous swing high from april is near the high of the pinbar price could use this area as resistance but if we stick a stop loss up around there we have to deal with a large drawdown and that is also something I like to avoid just hoping we kick back down

That's a bit more advanced but it's stuff I think about for all my trades

Best
Mike
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  • #130,837
  • May 8, 2014 10:59am May 8, 2014 10:59am
Quoting mbqb11
{quote} their are plenty of threads out there to discuss other educators(even ones to bash us) etc. Lets keep this thread to j16 trading, that's what it's here for. For those that don't want to post that's fine, but please keep that to other threads so I don't have to spend time cleaning things up as it takes away from the content that is shared on this thread Thanks guys Mike
Hey Mike,

I wasnt trying to discuss other educators. I was just responding to someone else who mentioned him.

Im not sure if your implying that Im the one 'bashing' you and J16, I have praised you guys several times and I believe I sent you a PM a while back saying thank you for all your help in the PF which in part resulted in me becoming a profitable trader.

However, I stand by my point in regards to no educator that I know of (including your guys) providing a track record, and I dont see why its a topic that should be 'banned' from the thread to some degree.

Take care
Dan
  • #130,838
  • May 8, 2014 11:06am May 8, 2014 11:06am
Someone came into this business? fake out, accompanied by large bearish divergence, I was passing me and I could not get to be on other things. thanks
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  • #130,839
  • May 8, 2014 11:16am May 8, 2014 11:16am
Quoting dan89
{quote} Hey Mike, I wasnt trying to discuss other educators. I was just responding to someone else who mentioned him. Im not sure if your implying that Im the one 'bashing' you and J16, I have praised you guys several times and I believe I sent you a PM a while back saying thank you for all your help in the PF which in part resulted in me becoming a profitable trader. However, I stand by my point in regards to no educator that I know of (including your guys) providing a track record, and I dont see why its a topic that should be 'banned' from the...
Hey Dan

No I don't think you were bashing J16 at all, just quoting the most recent post. I know you respect us but didn't want to quote the trolls post but also wanted to address how we want to steer this thread in the long term. Being a public thread its VERY difficult to do as we have limited control and it's a huge pile of posts. But with that said it gets a ton of views and we try to do our best to keep it in the light of trading only otherwise it would be a waste of our time(which at this point for me has already become more limited then I hoped)

We supply a lot of info for free and have our paid stuff. I personally choose to show my trades in real time and let others judge if its useful. i do this in the PF because people are more educated on who we are and what we do and of course I consider that a premium. If people want more then that that's fine and as you know people are going to go where they want. It's been like that here always. Not to say it won't change in fact i've tracked majority of my trades this year audited for the future purposes(for a higher fee) if the group chooses to go that route. I don't think that takes away from what we do show and in great detail. Most people scrutinize cause the business we are in and i've accepted that as part of what my role has become too. I'm ok with that part of it. Just the trolls will get banned and they can talk bad about us else where(plenty of it and misguided and wrong like the previous user which is just full of false stuff that has nothing to do with the group).

But with that aside I don't think those convos are relevant to the chart thread where others are coming to learn. So I don't want us to get off course which always starts with a troll and ends the same way(believe me i've seen it all at this point). For those that find it useful hang out(and obviously many do) for those that don't plenty of other spots to go and my feelings are not hurt either way

This thread will always be here to shed light and it's just important we stay on top of that because of it being a public thread. And I do appreciate yourself and others who help when many of us can not

Mike
  • #130,840
  • May 8, 2014 11:21am May 8, 2014 11:21am
Quoting Bullet
{quote} Ok thanks for the advice, as I said in my last (few) posts, small accounts don't work for me, I have enough to start a largish account but don't want to risk real money until I have got into the swing again (trader this and other methods before). Cheers Mark
this will always be a tough one for me

I will end up siding with bullet as most people aren't ready for even a small live account. So if you can't prove it on a demo account those emotions will come out on a live. Again for most. Going to a live account for most is just another psychological pitfall where people say 'if this was with real money i would have never took that last trade" But that eventually happens live too.

I think where I am ok with Live after early demoing and proving you have something is that a small small live is basically like a demo but you get "real" fills and go through the process. Of course if I had to put a number on it I think someone should still demo 3-4 months positive and move to a VERY tiny tiny account as Dan and donkey spoke of.

But bullet hit on key points which I see every day based on the emails I get. What stops most from making this is they can't beat their own demons. Really I think after 6months - a year of learning this most will have the ability to trade profitable if they can catch the mental side up to it(ie being picky )

But either way demo or super small is always the camp i'll be in.

Mike
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