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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

  • #137,041
  • Sep 24, 2015 10:12am Sep 24, 2015 10:12am
Quoting mbqb11
well the markets have been giving to me so i'll keep taking what I can get this was a .5% gain on a "wick" play using the boundaries of the 4hr channel and swing point {image} {image} {image}
Why can't you give us the trade before you take it? So that we can make some money and perhaps gains some real experience too. The market is giving, yeah, but mostly just you and the rich kids in the PF. We get the leftovers in here. Pfft!
  • #137,042
  • Sep 24, 2015 10:15am Sep 24, 2015 10:15am
Quoting incognito517
{quote} Why can't you give us the trade before you take it? So that we can make some money and perhaps gains some real experience too. The market is giving, yeah, but mostly just you and the rich kids in the PF. We get the leftovers in here. Pfft!
well I think it's only fair that those paying in the PF get more from me. I simply don't even have the time these days to get here as much as I'd like.

And even though every single one of the above trades was posted in real time in the PF my goal is not to have people blindly follow me in. I do that to teach more effectively to our members. When we do official trade signals those will be charged separate if peoples intentions are only to blindly follow me.

If you feel what I share here is not giving you real experience then a LOT of places to hang out. I've spent thousands of hours for free on this thread and many have never joined the PF to utilize that info


Mike
  • #137,043
  • Sep 24, 2015 10:34am Sep 24, 2015 10:34am
Quoting mbqb11
{quote} well I think it's only fair that those paying in the PF get more from me. I simply don't even have the time these days to get here as much as I'd like. And even though every single one of the above trades was posted in real time in the PF my goal is not to have people blindly follow me in. I do that to teach more effectively to our members. When we do official trade signals those will be charged separate if peoples intentions are only to blindly follow me. If you feel what I share here is not giving you real experience then a LOT of places...
I don't want to blindly follow you. Maybe it's just me, but I learn better forward testing. Then again, I am not giving you any money so you don't owe me anything, nor do you have to even consider what I say. This is a business after all, I understand that. But if I remember correctly, James said "it's not about the money," he also said "I love the free thread more than the PF." It sure as hell doesn't seem that way!
  • #137,044
  • Sep 24, 2015 11:02am Sep 24, 2015 11:02am
I received this email a few days ago. This is someone who has never been a member of the j16 PF. This is why this thread means so much to us. And why we never question it and why I love this thread and love all the people we get to help. I don't know many resources that can say that after nearly ten years.

It's worth it when you get emails like this. And I greatly just enjoy it.


------------------------------------------------------------------------

Hi Mike,

First of all, I wish you and your girlfriend the very best. Health issues can be a real nightmare, and I hope that this nightmare will end as soon as possible and with the best possible outcome.

I would also like to thank you and the J16's crew.

Forex trading and money management in all the possible forms were just a new territory for me just a few years ago.

Sticking to what James has put in his thread, and with your help and dedication to his thread, basically allowed me to go from zero in terms of trading to a tiny but quite rapid profit.

I started trading live like 6 months ago with a ridiculously small account. And I just realized the only losing month I had was this August, with a 0,5% loss over a small week of trading on the other hand, the overall profit is like 14% in just 6 months.

I know 6 months does not guarantee consistent profit each and every month, each and every year but I also know that these first months are only the first steps of a much longer period.

Nothing would have been possible without J16's thread or without you and the other guys helping each other for years Thanks a lot!

Cheers
  • #137,045
  • Edited 11:25am Sep 24, 2015 11:08am | Edited 11:25am
Quoting mbqb11
{quote} And now just to show you that it's about consistency. Here is the SAME type of approach I just took to get back into my SP500 trade. We have a BOX with a beob forming at the top of the box. Where did I sell? Look at this and look at aud/jpy. It's the SAME thing. Consistency {image} {image}
now to expand on this as I was showing grover, this setup came up a few times this last week. This is not a universal thing. You should not treat all outside bars the same, you should not treat all pinbars the same etc

The question I ask myself is what is the story? And how do I use that story to take a trade.

In case of aud/jpy, sp500 and now usd/zar the story is pretty similar. It's price at a resistance point and we want to use that confluence in order to be able to get the best possible entry. In these case that is on a deep retrace of their respective outside bars.

I'll be looking to short just under the BRN and resistance area which is just a retrace of the 4hr beob. If the beob does break DOWN first that order will be cancelled and it's back to waiting. I use only half my risk on deep retraces because you lose flexibility in trade mgmt. Versus cad/jpy where I can use my full risk since you have a lot of room to minimize your risk. Again that's how I use dynamic risk:reward to my favor and stay consistent
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  • #137,046
  • Sep 24, 2015 11:32am Sep 24, 2015 11:32am
Quoting mbqb11
I received this email a few days ago. This is someone who has never been a member of the j16 PF. This is why this thread means so much to us. And why we never question it and why I love this thread and love all the people we get to help. I don't know many resources that can say that after nearly ten years. It's worth it when you get emails like this. And I greatly just enjoy it. ------------------------------------------------------------------------ Hi Mike, First of all, I wish you and your girlfriend the very best. Health issues can be a real...
LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day there’s no proof for what that emailer is claiming. It’s called the “cult effect” it’s like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what you’re teaching. So they sort of worship you to some extent. Go to ANY FX guru’s site and you will see the same emotionalism in the testimonies. Don’t get me wrong, Mike. I believe in what you and James teach and I like James, a lot. Judging from his posts he’s an awesome guy. But you are tarnishing J16’s reputation. You ought to treat all aspiring J16 traders alike, whether they’re giving you money or not. If James could do it why can’t you?. So don’t come here and be arrogant with me. If I were paying your bills, would you talk to me like this? I am sorry but I will not bow down to you like everybody else. As much as I like what you teach and hold you in high esteem as a trader, your disrespect towards non-paying members is quite evident. I have noticed many times, some of the regulars in here will ask you a question and you will utterly ignore it, YET you will have the time to talk about other things. I have no reputation to uphold here so I can tell you straight up. I’m pretty sure most other regulars here wish to say the same but don’t have ‘the balls’ to.
  • #137,047
  • Sep 24, 2015 11:32am Sep 24, 2015 11:32am
another chart i'm watching. Nice PPZ , BRN and rising TL. I'll look for longs or confirmation of the TL and shorts.

Preference is going to be a bounce at the TL and look for shorts next week
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  • #137,048
  • Sep 24, 2015 11:36am Sep 24, 2015 11:36am
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
with 11500 posts and countless videos on the web for free. This is not teaching non paying members?

We've only had to ban 9 people in ten years from this thread and from day one you came in here demanding and treating people with disrespect. That's unfortunate because I am patient and give everyone multiple chances. Even defended you because I can sense your anger from day 1.

I wish you the best in your trading take care
Mike
  • #137,049
  • Sep 24, 2015 11:36am Sep 24, 2015 11:36am
Trade update - AUDUSD D1 PB: Trailing SL filled. 130 pips profit, not bad.
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  • #137,050
  • Sep 24, 2015 11:38am Sep 24, 2015 11:38am
Quoting mbqb11
{quote} with 11500 posts and countless videos on the web for free. This is not teaching non paying members? We've only had to ban 9 people from this thread and from day one you came in here demanding. That's unfortunate because I am patient and give everyone multiple chances. Even defended you because I can sense your anger from day 1. But I don't let people disrespect me and also expect stuff from me. That's my line personally I wish you the best in your trading take care Mike
You can ban me if you like, Mike. But you're banning me for being honest. Go ahead! My conscience is clear, I've said nothing but the truth. Good luck to you too.
  • #137,051
  • Sep 24, 2015 11:41am Sep 24, 2015 11:41am
Quoting mbqb11
{quote} now to expand on this as I was showing grover, this setup came up a few times this last week. This is not a universal thing. You should not treat all outside bars the same, you should not treat all pinbars the same etc The question I ask myself is what is the story? And how do I use that story to take a trade. In case of aud/jpy, sp500 and now usd/zar the story is pretty similar. It's price at a resistance point and we want to use that confluence in order to be able to get the best possible entry. In these case that is on a deep retrace...
this is a trade that you don't want to see the lows taken out first so i've now pulled the order. But the concepts are the same across this trade the aud/jpy and sp500 trades.

One of the first questions to ask yourself when entering a price bar is do I enter on a break? the close? or a pullback? Their is usually a better answer and that will offer you the most promise and ability to cut your trade for a smaller loss too
  • #137,052
  • Sep 24, 2015 11:47am Sep 24, 2015 11:47am
Quoting mbqb11
another chart i'm watching. Nice PPZ , BRN and rising TL. I'll look for longs or confirmation of the TL and shorts. Preference is going to be a bounce at the TL and look for shorts next week {image}
Thanks Mike, I looking for short this trade, look this pin on weekly or monthly time frame, I will entry in short after line will be broken.
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  • #137,053
  • Sep 24, 2015 11:50am Sep 24, 2015 11:50am
So guys and girls, Mike is banning me from this thread after 6 months for daring to stand up to him. It was nice knowing you while it lasted. Good luck with your trading going forward. I wish you all nothing but the best. Take care! PM if you like.
  • #137,054
  • Sep 24, 2015 11:54am Sep 24, 2015 11:54am
Quoting analysttrade
{quote} Thanks Mike, I looking for short this trade, look this pin on weekly or monthly time frame, I will entry in short after line will be broken. {image}
here is what I look for in this case. We want to validate that TL first. That's very key for me to understand if a TL is still important. So ideally here very shortly we will see price bounce. Depending on the days close we could see tomorrow push us higher which will help create more strength to this area. Then the next time we can get price to close UNDER this area it becomes a PERFECT area for shorts at the pivot/brn and TL(purple arrows)


now if it just cuts right through an area like this, that actually makes me less prone to take shorts because it's more difficult to pinpoint my entry. That's a case where i'd then look for price to strongly close back above this area and look for longs(green arrows)
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  • #137,055
  • Sep 24, 2015 12:04pm Sep 24, 2015 12:04pm
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
what a load of utter and upmost bullsh*t. i know mike since nearly 7 years and he got my biggest respect.
i for myself will never forget what he has done for me and my family.
he is always helpful and willing to answer the same questions again and again.
i never ever witnessed that he advertised the PF here, btw.
please stop your discussion here, this thread is about charts!
meine augen sind die sterne
  • #137,056
  • Sep 24, 2015 12:20pm Sep 24, 2015 12:20pm
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
Hem.

That emailer is me...

Don't tell me I'm psychologically attached to some guy I don't know
And no I won't make my trade explorer public either - I don't want any additional pressure when I pull the trigger.

It's pure honesty, and I don't have any public data to backup it.

My objective #1 is to open a live account and stay 6 months positive. Without losing money - read: without getting under my initial balance, AND without anything but the freely available material (read: I won't pay a USD 150-ish monthly fee if I am not convinced I can be profitable).

That's done, even though September will most likely end in the red.

This email is to give credit to whom credit is due. I am lucky I never felt into the "indicator trap". And I am SO lucky the only live account I blew was a $-1 account. (and that part is true also )

Now, I have to prove to myself (and my wife!) I can consistently grow my account. Then I will consider adding some pocket change in my tradinga ccount.

And, to come back to the private forum Vs the free thread, when I will be able to get at least the monthly fee from my trading, I will consider joining the PF. In my view, trading has to be self-sustainable. I won't put the money of my family holidays or of my daughters activities or education.

So I guess the take home message is - sure there is no trade call. yes, I have to work by myself, see people posting winning trades while I'm in a loser row etc. BUT a positive expectancy can be taken from this thread. I'm a proof one may end up positive without losing anything (well beside my $ 1 account...).
And I mean it, if I can do it, anyone can.

Take care
Slow & steady
  • #137,057
  • Sep 24, 2015 12:22pm Sep 24, 2015 12:22pm
Quoting mbqb11
{quote} this is a trade that you don't want to see the lows taken out first so i've now pulled the order. But the concepts are the same across this trade the aud/jpy and sp500 trades. One of the first questions to ask yourself when entering a price bar is do I enter on a break? the close? or a pullback? Their is usually a better answer and that will offer you the most promise and ability to cut your trade for a smaller loss too

Hey Mike,

I've been looking at most of the setups you posted here as well.
Now that USD/ZAR has it's lows taken out on the H4; I was looking at USD/SGD.
It doesn't really have as high a yield as ZAR, but a similar chart setup.
Is that a correct observation? {thanks in advance}

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PS: H1 coiled up into an I4B, break of the low may be imminent, alternatively, it could spurr the retrace.

Thanks for the ongoing great work here Mike!
I'm not of the financial means to just join the PF, but plan to as soon as the fee won't strap me.

Have a good day everyone!
It's a sport, an artform and a science.
  • #137,058
  • Sep 24, 2015 12:45pm Sep 24, 2015 12:45pm
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
LOL Incognito. Here's a new thing for you. It's called "There is no free lunch". Get this in your head, before continuing to learn to trade Forex.

Everyone is alone on his path to success! Mike or other wont be there to hold your hand when you take a hit on your account! So learn everything that you can by yourself, and stop arguing with people who put in so much of their time in this thread, to teach something useful to ungrateful people like you.

Forex gets some people frustrated, it gets me too, but the only solution is yourself, not Mike, nor others. With this attitude, I dont think you will last long in Trading, you will give up and probably blame your failure on Mike or James

Take care!
Market can stay irrational longer than you can stay solvent.
  • #137,059
  • Sep 24, 2015 12:47pm Sep 24, 2015 12:47pm
Quoting incognito517
{quote} LOL stop advertising, Mike. The fact is you (J16) do not live up to what you preach. You will post emails like this to get everybody all sentimental but at the end of the day theres no proof for what that emailer is claiming. Its called the cult effect its like Stockholm syndrome. People want to make you feel good because they are psychologically attached to what youre teaching. So they sort of worship you to some extent. Go to ANY FX gurus site and you will see the same emotionalism in the testimonies. Dont get me wrong, Mike. I believe...
Sorry but you couldn't be more wrong about Mike.
Please go visit the thousands of other threads on FF. You'll get all the free trading calls you can handle.
Of all the free information he's given, why do you think it's not enough to be taught for free but you want to be paid with free trades while you're learning?
  • #137,060
  • Sep 24, 2015 1:05pm Sep 24, 2015 1:05pm
Quoting incognito517
So guys and girls, Mike is banning me from this thread after 6 months for daring to stand up to him. It was nice knowing you while it lasted. Good luck with your trading going forward. I wish you all nothing but the best. Take care! PM if you like.
I'm not going to ban you. I want you to have access to this area. The only people we ban are those that never want to change and just bring the thread down. I'm going to hope that's not the case here.

So it's really up to you how to use this area. If you want to just ignore me completely to do that, I'd feel better about allowing you that then stripping it away. But if you show respect you'll get it right back and we do expect that in this thread

Thanks
Mike
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