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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

  • #138,241
  • Jan 14, 2016 2:54am Jan 14, 2016 2:54am
Hi GB, funny, I posted this chart on the pf earlier, would you have sold into a ppz if $50,000 was riding on it?
  • #138,242
  • Jan 14, 2016 3:04am Jan 14, 2016 3:04am
Quoting alphac
Hi GB, funny, I posted this chart on the pf earlier, would you have sold into a ppz if $50,000 was riding on it?
For me, price had already traded past my understanding of PPZ at around 0.65000. (Or do u mean the 0.6425 area?) Once price closed below this zone, broke away, came back and retested, I was in. If I had 50 grand on this I'd likely be taking less pips off the table and would've closed trade earlier. I'd reckon at that amount, 10, 20 pip trades would be plenty in the bank. Good question Alphac.

Edit: chart. Yep, absolutely. Could be a problem. A few pips made either way.

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'Fail to plan, plan to fail'
  • #138,243
  • Jan 14, 2016 3:29am Jan 14, 2016 3:29am
NZDUSD 4hr chart. It's a question Jim would ask, it's to get you thinking of it like a business, to take just the best trades, it may seem flipant but it's absolutely key to developing your brain to get a professional traders mindset. Most ignore this at their peril, just read what's written in the 'trading systems' part of the forum, they're just playing games there.

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  • #138,244
  • Jan 14, 2016 3:33am Jan 14, 2016 3:33am
Quoting lovelyman
{quote} Let me understand that correctly You had payed James for the PF (all 12 months I guess), you trade his method and you attack him for what exactly? Why the hell does it matter if he shows his statements or not, what matters is that this stuff works. PERIOD. I can only guess that even if he had shown statements, you would have find something else attacking him
Maybe after 5+ years you will understand. :-)
He was not saying that what j16 is trash. He knows what he teaches better than 95% here at the FF. He simply asked for a proof, proving that what he teaches does make money in the long term. Create a small live account, trade for X days, post. Done. People will stand in lines just to learn from you.
Maybe after 2 years when you start struggling to move from the "hobby" trader to the "professional trader" level you will understand why this stuff concerns us.
Personally I started with j16, it gave me a good foundation. So im not attacking them or anything...

This is a snapshot of a profitable trader's track record. Live account. He is trading for living. Ask commercials or anybody on FF to provide something like that. Excuses will come... Anything less than 500usd-1k/day is a hobby trader in my eyes. Sorry.
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It's all psychology...
  • #138,245
  • Jan 14, 2016 3:39am Jan 14, 2016 3:39am
Quoting alphac
NZDUSD 4hr chart. It's a question Jim would ask, it's to get you thinking of it like a business, to take just the best trades, it may seem flipant but it's absolutely key to developing your brain to get a professional traders mindset. Most ignore this at their peril, just read what's written in the 'trading systems' part of the forum, they're just playing games there. {image}
Yep indeed mate. Thanks, appreciate your input. I'll take some pips off the table with this one if it reverses.
'Fail to plan, plan to fail'
  • #138,246
  • Jan 14, 2016 4:37am Jan 14, 2016 4:37am
Quoting LamerTrader
{quote} Maybe after 5+ years you will understand. :-) He was not saying that what j16 is trash. He knows what he teaches better than 95% here at the FF. He simply asked for a proof, proving that what he teaches does make money in the long term. Create a small live account, trade for X days, post. Done. People will stand in lines just to learn from you. Maybe after 2 years when you start struggling to move from the "hobby" trader to the "professional trader" level you will understand why this stuff concerns us. Personally I started with j16, it gave...
LamerTrader,

I’m on the PF since 2009, I’m profitable and not by a few %...

So, as you can see I understand very well the concepts… there is a reason why this thread is #1 on FF for such a long time… there is a reason why the PF is getting bigger and bigger for the last 10 years…

It’s not about that people will stand in lines just to learn from you…. Maybe for you but not for Jim and Mike….

Think about it why they act as such way.
  • #138,247
  • Jan 14, 2016 8:26am Jan 14, 2016 8:26am
1H BUOB on the SP500.

Against the major trade which is down
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  • #138,248
  • Jan 14, 2016 8:48am Jan 14, 2016 8:48am
Quoting lovelyman
1H BUOB on the SP500. Against the major trade which is down {image}
Here is the bounch....

that's how you cut losses small and cut your risk when you protect your SL and move it behind the bounch area
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  • #138,249
  • Jan 14, 2016 11:38am Jan 14, 2016 11:38am
Quoting lovelyman
1H BUOB on the SP500. Against the major trade which is down {image}
Worked like a charm
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  • #138,250
  • Jan 14, 2016 11:39am Jan 14, 2016 11:39am
Quoting LamerTrader
{quote} Maybe after 5+ years you will understand. :-) He was not saying that what j16 is trash. He knows what he teaches better than 95% here at the FF. He simply asked for a proof, proving that what he teaches does make money in the long term. Create a small live account, trade for X days, post. Done. People will stand in lines just to learn from you. Maybe after 2 years when you start struggling to move from the "hobby" trader to the "professional trader" level you will understand why this stuff concerns us. Personally I started with j16, it gave...
Lamer,

If I'm looking at this correctly, it looks like this guy is 100+ trades a day. That in and of itself doesn't make sense. Even as a scalper that's a ridiculous amount of trades.
  • #138,251
  • Jan 14, 2016 11:52am Jan 14, 2016 11:52am
Quoting swTrue
{quote} Lamer, If I'm looking at this correctly, it looks like this guy is 100+ trades a day. That in and of itself doesn't make sense. Even as a scalper that's a ridiculous amount of trades.
This is a TopStep Combine. (=way to get funded) As far as I know the guy usually takes 9-12 standard lot positions. So total contracts traded = 500 / 10 = ca 50 trades. Since TST counts both sides it is 25 trade opens and 25 trade closes so 25 "normal trades". The guy also admitted that he kind of over-traded these days. But that's not my point. My point was simply that there are many ways to prove/provide a legitimate track record. Whatever.

Happy trading
It's all psychology...
  • #138,252
  • Jan 14, 2016 2:25pm Jan 14, 2016 2:25pm
NZD/USD D1 BEOVB. Where did price go?

Here's a trade I took yesterday and posted here, eventually cutting out with a profit of 50 pips as price reversed. A couple of the guys pointed out I was trading into a PPZ and so I was. Price went where you would expect it to go. The trade wasn't the best choice even though pips were made. i.e. Good looking bar/signal with down trend, but Daily and weekly bars had not closed below 0.65000 level which should've tipped me off as to the strength of the set-up. Price could've punched through, but we can usually expect some stalling or a bounce at these areas. Having said that, I am still watching for bearish PA like a big outside bar. I've attached a chart for observation and out of interest to show that price will usually go where we expect it to, which is the first trouble area. In this case, to top of consolidation box area. GB.

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'Fail to plan, plan to fail'
  • #138,253
  • Jan 14, 2016 2:30pm Jan 14, 2016 2:30pm
Russell 2000 had hit PPZ and found support...
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  • #138,254
  • Jan 14, 2016 10:01pm Jan 14, 2016 10:01pm
Quoting lovelyman
Russell 2000 had hit PPZ and found support... {image}
1000 BRN area too Luv? If weekly closes above support, will you be looking for longs? Or are u already in long on smaller TF PA? Thanks, GB.
'Fail to plan, plan to fail'
  • #138,255
  • Jan 14, 2016 10:29pm Jan 14, 2016 10:29pm
Quoting LamerTrader
{quote} Maybe after 5+ years you will understand. :-) He was not saying that what j16 is trash. He knows what he teaches better than 95% here at the FF. He simply asked for a proof, proving that what he teaches does make money in the long term. Create a small live account, trade for X days, post. Done. People will stand in lines just to learn from you. Maybe after 2 years when you start struggling to move from the "hobby" trader to the "professional trader" level you will understand why this stuff concerns us. Personally I started with j16, it gave...
You're going to be banned and deleted for speaking the truth. The mods on this forum deleted my posts a few years ago when I questioned the same thing you did. Now, don't get me wrong. I feel the James has created a good thread where like-minded individuals can come together and share trading ideas. If you want to throw money into his PF that is your business...but when you start asking for some transparency...they censor you.
  • #138,256
  • Jan 14, 2016 10:31pm Jan 14, 2016 10:31pm
Quoting swTrue
{quote} Lamer, If I'm looking at this correctly, it looks like this guy is 100+ trades a day. That in and of itself doesn't make sense. Even as a scalper that's a ridiculous amount of trades.
Not that many if he has an algo OR a grey-box type of system.
  • #138,257
  • Jan 14, 2016 11:17pm Jan 14, 2016 11:17pm
First trade for the week here. EURGBP D1 PB. Entered on a ret so that I can better manage my trade should 0.75 BRN come into play. TP at FTA.
Have a nice weekend all.
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  • #138,258
  • Edited Jan 15, 2016 12:07am Jan 14, 2016 11:57pm | Edited Jan 15, 2016 12:07am
Quoting incognito517
First trade for the week here. EURGBP D1 PB. Entered on a ret so that I can better manage my trade should 0.75 BRN come into play. TP at FTA. Have a nice weekend all. {image}
Yo Inco! Welcome back and gr8 to see u posting. I'm watching this one with interest. That PB looks good and usually I would jump in without needing much convincing. However, a couple of things concerning levels interest me. I note daily Pbar closed below previous days bar, which is good as we're looking to short. But price hasn't yet closed below last weeks bullish weekly bar 0.75223 (on my feed). Good job on keeping ur risk down. Something I'm getting from Mike too. Hope it rockets south, and probably will, but I'm interested in those levels. GB. :nerd:

edit chart: EUR/GBP D1.

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'Fail to plan, plan to fail'
  • #138,259
  • Jan 15, 2016 12:06am Jan 15, 2016 12:06am
Quoting defcon123
{quote} You're going to be banned and deleted for speaking the truth. The mods on this forum deleted my posts a few years ago when I questioned the same thing you did. Now, don't get me wrong. I feel the James has created a good thread where like-minded individuals can come together and share trading ideas. If you want to throw money into his PF that is your business...but when you start asking for some transparency...they censor you.
Hey defcon,

I think that if you will ask any member from the PF they will say there is a full transparency in the group, no censorship at all.

I’m a member of the PF group from 2009 and I see it as my second home, it literally had changed my life.

I’m profitable and never thought stop posting there, it’s a completely different learning place from FF.
  • #138,260
  • Jan 15, 2016 12:58am Jan 15, 2016 12:58am
Quoting Guitarbloke
{quote} Yo Inco! Welcome back and gr8 to see u posting. I'm watching this one with interest. That PB looks good and usually I would jump in without needing much convincing. However, a couple of things concerning levels interest me. I note daily Pbar closed below previous days bar, which is good as we're looking to short. But price hasn't yet closed below last weeks bullish weekly bar 0.75223 (on my feed). Good job on keeping ur risk down. Something I'm getting from Mike too. Hope it rockets south, and probably will, but I'm interested in those levels....
Hey GB, in all honestly I’m quite ignorant when it comes to using multi TF analysis. Although, I would agree that from the weekly view of things shorting this pair now doesn’t look like a good idea. Combine that with playing the ret instead of the break and it’s even riskier.

Are you referring to Jarroo’s method by any chance? If not, can you tell me more regarding price not closing below last week’s bullish bar? Or is there some place on the PF that I can get more info?
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