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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

  • #134,321
  • Apr 14, 2015 3:12pm Apr 14, 2015 3:12pm
Quoting wellard
Hello guys, can someone pls post indicator which you use for auto-drawn BRN levels? Much appreciate, thanks!
hi wellard, check this!
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  • #134,322
  • Apr 14, 2015 3:24pm Apr 14, 2015 3:24pm
Quoting hawassy
{quote} hi wellard, check this! {file}
Thanks, mate!
  • #134,323
  • Apr 14, 2015 4:36pm Apr 14, 2015 4:36pm
I HAVE A QUESTION. IS There any legal and moral way for me to actually trade other peoples accounts?
  • #134,324
  • Apr 14, 2015 4:48pm Apr 14, 2015 4:48pm
Easiest way I can think of is Zulutrade. But I guess most top traders or professional traders hate that kind of platform.
  • #134,325
  • Apr 14, 2015 4:56pm Apr 14, 2015 4:56pm
Quoting james16
I HAVE A QUESTION. IS There any legal and moral way for me to actually trade other peoples accounts?
Hey James, you should be able to control investors accounts via power of attorney, use a trade copier where you control the Master account and then attach the slaves accounts ( investors ). Get someone in the legal industry to draft up legal documentation to cover management and above watermark fee's p[lus documentation to cover yours and the investors Ass...

Sorry if Ive completely got the wrong end of the stick.. I was just surfing FF and came across your question..

If you want any further Info you can PM me..

Cheers...Ja
Memories caught in time but never forgotten
  • #134,326
  • Apr 14, 2015 4:59pm Apr 14, 2015 4:59pm
Quoting james16
I HAVE A QUESTION. IS There any legal and moral way for me to actually trade other peoples accounts?
submit proof of your skill and people can subscribe to you via mt4 of mt5 --you set price 0-500 whatever ..gl and thanks
https://www.mql5.com/en/signals
Learn THEN Unlearn
  • #134,327
  • Apr 14, 2015 5:26pm Apr 14, 2015 5:26pm
Quoting j4d
{quote} Hey James, you should be able to control investors accounts via power of attorney, use a trade copier where you control the Master account and then attach the slaves accounts ( investors ). Get someone in the legal industry to draft up legal documentation to cover management and above watermark fee's p[lus documentation to cover yours and the investors Ass... Sorry if Ive completely got the wrong end of the stick.. I was just surfing FF and came across your question.. If you want any further Info you can PM me.. Cheers...Ja
unfortunately from what I understand from speaking with a lawyer this is only possible overseas(non US). Doing this in the US is a lot more regulation and certification needed as opposed to setting up simple PAMM . Someone can correct me if i've been mislead but ive had a few discussions and in the US you can have X amount of participants or up to X funds which is rather small on both before it's a certification nightmare

Thanks J
Mike
  • #134,328
  • Apr 14, 2015 5:28pm Apr 14, 2015 5:28pm
What if the money being controlled is outside the US. For example I am in UK, could US law now allow someone to trade funds from the UK ?
  • #134,329
  • Apr 14, 2015 5:30pm Apr 14, 2015 5:30pm
what about high five post mike?

Quoting mbqb11
{quote} unfortunately from what I understand from speaking with a lawyer this is only possible overseas(non US). Doing this in the US is a lot more regulation and certification needed as opposed to setting up simple PAMM . Someone can correct me if i've been mislead but ive had a few discussions and in the US you can have X amount of participants or up to X funds which is rather small on both before it's a certification nightmare Thanks J Mike
  • #134,330
  • Apr 14, 2015 5:31pm Apr 14, 2015 5:31pm
Quoting mbqb11
{quote} unfortunately from what I understand from speaking with a lawyer this is only possible overseas(non US). Doing this in the US is a lot more regulation and certification needed as opposed to setting up simple PAMM . Someone can correct me if i've been mislead but ive had a few discussions and in the US you can have X amount of participants or up to X funds which is rather small on both before it's a certification nightmare Thanks J Mike
Hey Mike, I'm not up on US regulations, but it might be worth looking into setting up an Off-shore company ( depending on the amount of investment ) or approaching an off-shore prime broker ?


Edit: you may even be able to run your operation under the umbrella of a US prime broker ? ..I think they call it a direct access partner scheme..

If you need some US prime brokers PM me..

Good luck.. Ja
Memories caught in time but never forgotten
  • #134,331
  • Apr 14, 2015 5:43pm Apr 14, 2015 5:43pm
Quoting james16
what about high five post mike? {quote}

Hello James and thanks for all that you do.

I've been in the James16 community for years. Also been a member of your site a few years back and learned a great deal.


I believe the trade copier suggested by High Five will be fine. Your account will have to be live to take on subscribers of course. No problemo for US accounts as well.

As always confirm.

I'm along for the EPIC JOURNEY!!!!

Peace
Solutions ONLY!!!
  • #134,332
  • Apr 14, 2015 6:16pm Apr 14, 2015 6:16pm
I'm not sorry to say this talk of trading OPM is disturbing and uncharacteristic of a great thread such as this and quiet frankly I think it diminishes the great james16group. I hope it is fleeting and unintended.
  • #134,333
  • Apr 14, 2015 6:36pm Apr 14, 2015 6:36pm
Area of res + weekly open above. Bounce of support. Non traditional pin closed a bear yet with bullish momentum.

zero line cut wick. Place tight stop beneath?


Thoughts criticism ???
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Solutions ONLY!!!
  • #134,334
  • Apr 14, 2015 6:45pm Apr 14, 2015 6:45pm
Quoting Winston Reed
I'm not sorry to say this talk of trading OPM is disturbing and uncharacteristic of a great thread such as this and quiet frankly I think it diminishes the great james16group. I hope it is fleeting and unintended.
Well nothing is wrong with trading OPM if it is done Legally. Most people dont do things like that. They ship their money to some random person in some random country. What do people expect to happen.

If you understood how PAMM works the user has full control. We will not be touching anyones money. Thats why we are looking for the best solution. I dont want to touch anyones money. Ive been offered to trade more then a million from a bunch of people and declined it all. Unfortunately it doesnt work here in the US and is why likely we will end on live calls where the user can make their own end decision too.

Weve never done anything fishy. I personally have live called my trades in the group this year. Its all there so we are just finding a way to do it more officially and get paid. Legally of course.
  • #134,335
  • Apr 14, 2015 6:53pm Apr 14, 2015 6:53pm
Quoting james16
I HAVE A QUESTION. IS There any legal and moral way for me to actually trade other peoples accounts?
I am surprised at this statement from an individual of your stature Jim. It is not difficult to trade OPM and I am sure you are well aware of this. Trading OPM really should be done by individuals with appropriate credentials and published documented trading history. Those seeking to invest funds in a managed trading firm can make a proper and informed decision because the requirements to do so are rigorous. Most will not meet the minimum requirements and this is a good thing. The volatility in such funds can be enormous and are generally not for those with "small" accounts. It doesn't take much research to find firms willing to trade your money in speculative markets. However such firms require documentation of your understanding of the risk involved and most will not take your money unless you are somewhat well-heeled. It is not difficult to answer the moral side of your question. What I can't understand is why you are not able to answer it for yourself.

I have followed J16 for some years now and have followed Mike. I am not a frequent contributor but I do as I have time and inclination. Mike has been an honorable high level administrator at J16 and I hope he will intervene and clarify.

Thanks Mike
  • #134,336
  • Apr 14, 2015 7:02pm Apr 14, 2015 7:02pm
Quoting mbqb11
{quote} Well nothing is wrong with trading OPM if it is done Legally. Most people dont do things like that. They ship their money to some random person in some random country. What do people expect to happen. If you understood how PAMM works the user has full control. We will not be touching anyones money. Thats why we are looking for the best solution. I dont want to touch anyones money. Ive been offered to trade more then a million from a bunch of people and declined it all. Unfortunately it doesnt work here in the US and is why likely we will...
I understand it can be done legally. I have experience losing 10K investing with a "so-called" great trader. He never saw a cent. He just traded my account to oblivion. My bad for investing with him and I have learned the hard way. The legality of trading OPM is not the point. A disguised solicitation however is very disturbing to me. I don't want any part of it and will "exit stage left" if this course continues. Such solicitations should be made privately.
  • #134,337
  • Apr 14, 2015 7:08pm Apr 14, 2015 7:08pm
Quoting Winston Reed
{quote} I understand it can be done legally. I have experience losing 10K investing with a "so-called" great trader. He never saw a cent. He just traded my account to oblivion. My bad for investing with him and I have learned the hard way. The legality of trading OPM is not the point. A disguised solicitation however is very disturbing to me. I don't want any part of it and will "exit stage left" if this course continues. Such solicitations should be made privately.
Trading is risky and yes one should always take control of their own money. Hence why we are an education site so people can control their own risks and involement. I do get a large request for what my trades are. Its a big undertaking mentally to put yourself out there but i do it so people can see what trading is from my end. The good and the bad. I am in no way solliciting any money. But if i officially give my calls live i want to get paid for that. Thats just good business. If i fail no ones going to pay for those calls.

i cant see how that is even remotely fishy. Heck people get their 401ks blown up by so called hedge funds. Everyone should take control of and responsibility of the own funds. Again if someone wanrs to see my calls they can do what they want with them.

but to each their own too. Im the first to be cautious about things. Id never let someone trade my money. Thats why i learned to do it on my own

Weve never disguised anything we do. Hence why for ten years weve been around
  • #134,338
  • Apr 14, 2015 7:20pm Apr 14, 2015 7:20pm
Quoting james16
I HAVE A QUESTION. IS There any legal and moral way for me to actually trade other peoples accounts?
The quote above is what I have a problem with. Mike, I have no issue with you whatsoever!. You use the word "We". I know YOU are not soliciting!

But what is the purpose of this statement from Jim on this public forum???!!! I don't think it is fishy at all. But it's out there!!!

Maybe I've got it all wrong and I'm willing to retract and let it all go. But I think some clarification from Jim is needed.

Sorry for my persistence but I think this is important to the integrity of this thread and the private forum.
  • #134,339
  • Apr 14, 2015 7:25pm Apr 14, 2015 7:25pm
Quoting Winston Reed
{quote} The quote above is what I have a problem with. Mike, I have no issue with you whatsoever!. You use the word "We". I know YOU are not soliciting! But what is the purpose of this statement from Jim on this public forum???!!! I don't think it is fishy at all. But it's out there!!! Maybe I've got it all wrong and I'm willing to retract and let it all go. But I think some clarification from Jim is needed. Sorry for my persistence but I think this is important to the integrity of this thread and the private forum.
Hey winston

james and i is what i meant by we. We are partners so we make decisions for the group together. James was just inquiring about solutions to our issues.

Example i can send a trade out and people have enough time to follow along. Simple enough solution is a text/email blast


for some of what James does this is not a workable solution because things happen too fast. Thats what theintention of his post was. Not to get people to send him personal checks. Trust me that aint ever happening. Id run as fast as anybody. James was more interested in solutions like zulu or collective2 but they come with pitfalls.

Hope that clarifies
mike
  • #134,340
  • Apr 14, 2015 7:26pm Apr 14, 2015 7:26pm
Quoting codekid
{quote} Took some profit just below the .94000 mark then moved my stop to break even. It wasn't a huge gain but at least I didn't lose money. {image}
Congratulations friend. Good stuff.

Thanks Kevin. Geez, you're really piquing my interest now! lol.

EUR/AUD H1. PB off key level. In short. Green line is 150 ema which i find price to respect often on H1, so i see this as added confluence. See how she goes. G

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'Fail to plan, plan to fail'
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