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  #22559  
Old Feb 26, 2009 12:16am
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nice post cat. i literally pump my fist in glee when i see posts like this one.

missed oppurtunities will mean nothing to you when the "missed oppurtunity" was preceeded by a winning trade that was worth more than what most people make in a year. people like you have a real chance of actually making it to that point.

when and if you do an amazing thing will happen. you will be so picky it will make you laugh when you compare your thought process to those days when you were desperatly trying to build an account. you will find yourself literally looking for one perfect set up a month because YOU WILL KNOW its all you need. trading anything other than perfection will not be of any interest to you.

its a great day when that happens. truly a great day but the road to that day is long and arduous. you will get there if you keep your wits about you and continue to "think right". common sense got you to this point and it can carry you the rest of the way if your patient and allow it.

success in this business never comes to those that dont deserve it. i love a lot of things about this business but thats one of the things i love the most.


jim

Quote:
Originally Posted by catiron View Post
I have posted on Forex Factory several times in the past year under the name PipsterDufus. But I was a James16 PF member under the name catiron, so I have changed to that name here.

I was a PF member for four months and it totally changed my trading results for the better. I have had double digit (%) gains every month since I first joined in September. Unfortunately, February has been a tough month -- tight ranges, low volatility. I am working hard to stay even for the month.

Since August, the market has had tremendous volatility and large...
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  #22559  
Old Feb 26, 2009 12:16am
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Member Since Feb 2005
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nice post cat. i literally pump my fist in glee when i see posts like this one.

missed oppurtunities will mean nothing to you when the "missed oppurtunity" was preceeded by a winning trade that was worth more than what most people make in a year. people like you have a real chance of actually making it to that point.

when and if you do an amazing thing will happen. you will be so picky it will make you laugh when you compare your thought process to those days when you were desperatly trying to build an account. you will find yourself literally looking for one perfect set up a month because YOU WILL KNOW its all you need. trading anything other than perfection will not be of any interest to you.

its a great day when that happens. truly a great day but the road to that day is long and arduous. you will get there if you keep your wits about you and continue to "think right". common sense got you to this point and it can carry you the rest of the way if your patient and allow it.

success in this business never comes to those that dont deserve it. i love a lot of things about this business but thats one of the things i love the most.


jim

Quote:
Originally Posted by catiron View Post
I have posted on Forex Factory several times in the past year under the name PipsterDufus. But I was a James16 PF member under the name catiron, so I have changed to that name here.

I was a PF member for four months and it totally changed my trading results for the better. I have had double digit (%) gains every month since I first joined in September. Unfortunately, February has been a tough month -- tight ranges, low volatility. I am working hard to stay even for the month.

Since August, the market has had tremendous volatility and large...
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  #23051  
Old Mar 4, 2009 11:13pm
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Quote:
Originally Posted by raczekfx View Post
I'm sure James will be happy,..... I'm.
It's always nice to see people making progress and prosper....
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  #23054  
Old Mar 5, 2009 12:15am
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no doubt about it. bundy has been around the block a few times.

Quote:
Originally Posted by bundyraider View Post
LOL. Yeah. ..."A little bit more, a little bit more!! Come on baby!!!! You can do it!!!"

"Ooooo.... Now it's gone negative. ....Can't book a loss.... I'll give it a little longer."

" DAMN!!!!..... Hit my stop loss!! If only I'd taken profit at the first barrier I'd be up."

"Where's the next trade?? ..This chart??... Nup... ...How about this one? ....Nup.... This pair?? ...hmmm.... there's an outside bar. That'll do.... "

"hmmmm..... If I go extra tight on the stop and go double or nothing I can make up...
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  #23051  
Old Mar 4, 2009 11:13pm
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Quote:
Originally Posted by raczekfx View Post
I'm sure James will be happy,..... I'm.
It's always nice to see people making progress and prosper....
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  #23054  
Old Mar 5, 2009 12:15am
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no doubt about it. bundy has been around the block a few times.

Quote:
Originally Posted by bundyraider View Post
LOL. Yeah. ..."A little bit more, a little bit more!! Come on baby!!!! You can do it!!!"

"Ooooo.... Now it's gone negative. ....Can't book a loss.... I'll give it a little longer."

" DAMN!!!!..... Hit my stop loss!! If only I'd taken profit at the first barrier I'd be up."

"Where's the next trade?? ..This chart??... Nup... ...How about this one? ....Nup.... This pair?? ...hmmm.... there's an outside bar. That'll do.... "

"hmmmm..... If I go extra tight on the stop and go double or nothing I can make up...
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  #23051  
Old Mar 4, 2009 11:13pm
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Quote:
Originally Posted by raczekfx View Post
I'm sure James will be happy,..... I'm.
It's always nice to see people making progress and prosper....
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  #23054  
Old Mar 5, 2009 12:15am
james16's Avatar
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Member Since Feb 2005
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no doubt about it. bundy has been around the block a few times.

Quote:
Originally Posted by bundyraider View Post
LOL. Yeah. ..."A little bit more, a little bit more!! Come on baby!!!! You can do it!!!"

"Ooooo.... Now it's gone negative. ....Can't book a loss.... I'll give it a little longer."

" DAMN!!!!..... Hit my stop loss!! If only I'd taken profit at the first barrier I'd be up."

"Where's the next trade?? ..This chart??... Nup... ...How about this one? ....Nup.... This pair?? ...hmmm.... there's an outside bar. That'll do.... "

"hmmmm..... If I go extra tight on the stop and go double or nothing I can make up...
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  #23177  
Old Mar 5, 2009 11:45pm
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man that was said nicely.

Quote:
Originally Posted by raczekfx View Post
Welcome.
It all comes with practice, time and strong desire to succeed.
If you're not a quitter, you will succeed.
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  #23177  
Old Mar 5, 2009 11:45pm
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man that was said nicely.

Quote:
Originally Posted by raczekfx View Post
Welcome.
It all comes with practice, time and strong desire to succeed.
If you're not a quitter, you will succeed.
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  #23271  
Old Mar 6, 2009 2:37pm
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Default UJ DAILY

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  #23271  
Old Mar 6, 2009 2:37pm
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  #23598  
Old Mar 12, 2009 2:23pm
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DAMN I FREAKIN LOVED THIS MAN.

Scott nothing can stop you if you continue like this and i mean nothing. VERY VERY VERY few people actually do what you have done and im damned proud of you. They say only 5 percent make it for more than a year or two in this business but im here to tell all of you sdomething.

IF you will do this like Scott has and KEEP that picky attitude for several years while you fund and build a large account the mountain top will be in view. those last few feet to the top will happen when the large account is combined with an ultra picky attitude and good risk profiles.

when a guy like scott can go 3 for 3 and do it with the ultimate in patience it should show you all something very valuable. how good do you think scott will be in a couple of years with this attitude and what do you think his account might look like?

jim

Quote:
Originally Posted by scott087 View Post
I'm following the minimum requirements that james has outlined for traders new to these methods. I have been trading this method for 4 months being ultra picky on daily charts. I have taken only 3 setups and they have all been winners. I know James requires 3 profitable months in a row to move to the next step. Do you guys think that I should keep trading for a few months until I move to the next step since I have only taken 3 daily setups?
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  #23611  
Old Mar 12, 2009 3:40pm
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yes i know and i lay awake at night and stare at the ceiling thinking about that exact fact. this thread has taken on a life of its own and i truly believe its being directed in some ways beyond what i understand. this thread has forced me to think before i speak and that alone has been a great blessing to me. is this thread purpose to teach me or others? its damn sure taught me a lot. my trading is exponentially better than it was 5 years ago and the life lessons it has taught me are beyond description.

the single biggest thing it has taught me is this. i always thought we were different. i dont think i really looked at those of you in other countries with real respect like i did my countrymen before this thread. i was like most americans. work hard and feel proud that my country could kick ass on any rogue idiot that might jack with us and feel hurt that our friends in europe and elsewhere seemed to not like us.

what i have discovered is there is no difference betwen us at all and learning that has been so profound it brings tears to my eyes. were all the same just raised in different places which produces different thought processes.

WHAT WE ALL CAN NEVER FORGET IS THAT THERE IS EVIL IN THE WORLD and if we dont ban together to fight it we will lose everything.

your a great help here ghous as are many of you and you all should know you DO NOT go unoticed. i am fully aware of all of you.

jim




Quote:
Originally Posted by ghous View Post
Sure Jim!

Your hard work has paid off

We have a bunch of ppl along the same lines as Scott,

Congratulations

Regards,
Ghous.
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  #23612  
Old Mar 12, 2009 3:47pm
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wow thats cool. how do we keep that from getting lost?

jim

Quote:
Originally Posted by PipGator View Post
Welcome, bjelakrez.

Most people recommend reading the entire thread to learn price action. I know this seems like a daunting task (I have not done it myself), but it is well worth the effort.

jdeuster, who recently made the commitment to read the entire thread, posted an excellent summary here:

http://www.forexfactory.com/showthre...99#post2585699
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  #23620  
Old Mar 12, 2009 5:00pm
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ok thanks mike.

jim

Quote:
Originally Posted by mbqb11 View Post
Jim you could link that in your first post somewhere
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  #23623  
Old Mar 12, 2009 5:21pm
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Member Since Feb 2005
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ok folks another tortured soul has found his way here so lets help him.

what we do here is as simple as it gets so you can stop feeling pressure and anxiety. what we do here works for almost everyone that does it right but doing it right is very hard for most people. get involved and give this thread your attention along with the guidelines in the first post. go over to the site and watch the guest videos. DO NOT EVEN CONSIDER joining anything for at least a month or two. by then you will know if this is for you or not.

welcome,

jim

Quote:
Originally Posted by gododdin View Post
Hi all

I'm new to this thread. I've been trying and failing miserably to scalp forex for a couple of years (despite having help along the way - the fault by the way is entirely mine - I just don't get it, it seems). I've read loads of books, spent many probably hundreds of hours looking at charts, and still managed to make consistent losses (some demo, some real).

Anyway, I decided to stop altogether for a bit, to regroup as it were, quit trying to scalp (trying to drive a racing car when I haven't even passed my test) and try a fresh approach...
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  #23625  
Old Mar 12, 2009 5:35pm
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Member Since Feb 2005
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wizard is right. i have personal emails from him back then that would probably embarass him. they are for sale. just email me for a price quote.

seriously though. many of you have no idea of the correspondence i have had with some of these long timers when they too came here lost and frustrated. it would rock you to your core if you saw some of them. now they are well known and respected members of this thread. they made it. they toughed it out even when i refused to spoon feed them. some got pissed off and left only to return later.

you would be shocked at the transformation that has taken place with them.

it can happen for any of you but you gotta listen to words like wiz's.

WIZ KNOWS.

Jim


Quote:
Originally Posted by the_wizard View Post
Mate, starting off trying to scalp in the FX markets is like doing a Masters before doing a GCSE. I know professionals that have have been trading many years that still find it hard to scalp FX successfully.

You need to take a step back. Read the thread SLOWLY from the beginning and begin demoing the principles.

You have to realise that you are going to have to UNLEARN a lot of what you have spent time learning.

But you can do it.

I was like you. If you read this whole thread you will find early posts from me when I had blown my account...
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  #23598  
Old Mar 12, 2009 2:23pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
Default

DAMN I FREAKIN LOVED THIS MAN.

Scott nothing can stop you if you continue like this and i mean nothing. VERY VERY VERY few people actually do what you have done and im damned proud of you. They say only 5 percent make it for more than a year or two in this business but im here to tell all of you sdomething.

IF you will do this like Scott has and KEEP that picky attitude for several years while you fund and build a large account the mountain top will be in view. those last few feet to the top will happen when the large account is combined with an ultra picky attitude and good risk profiles.

when a guy like scott can go 3 for 3 and do it with the ultimate in patience it should show you all something very valuable. how good do you think scott will be in a couple of years with this attitude and what do you think his account might look like?

jim

Quote:
Originally Posted by scott087 View Post
I'm following the minimum requirements that james has outlined for traders new to these methods. I have been trading this method for 4 months being ultra picky on daily charts. I have taken only 3 setups and they have all been winners. I know James requires 3 profitable months in a row to move to the next step. Do you guys think that I should keep trading for a few months until I move to the next step since I have only taken 3 daily setups?
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  #23611  
Old Mar 12, 2009 3:40pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
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yes i know and i lay awake at night and stare at the ceiling thinking about that exact fact. this thread has taken on a life of its own and i truly believe its being directed in some ways beyond what i understand. this thread has forced me to think before i speak and that alone has been a great blessing to me. is this thread purpose to teach me or others? its damn sure taught me a lot. my trading is exponentially better than it was 5 years ago and the life lessons it has taught me are beyond description.

the single biggest thing it has taught me is this. i always thought we were different. i dont think i really looked at those of you in other countries with real respect like i did my countrymen before this thread. i was like most americans. work hard and feel proud that my country could kick ass on any rogue idiot that might jack with us and feel hurt that our friends in europe and elsewhere seemed to not like us.

what i have discovered is there is no difference betwen us at all and learning that has been so profound it brings tears to my eyes. were all the same just raised in different places which produces different thought processes.

WHAT WE ALL CAN NEVER FORGET IS THAT THERE IS EVIL IN THE WORLD and if we dont ban together to fight it we will lose everything.

your a great help here ghous as are many of you and you all should know you DO NOT go unoticed. i am fully aware of all of you.

jim




Quote:
Originally Posted by ghous View Post
Sure Jim!

Your hard work has paid off

We have a bunch of ppl along the same lines as Scott,

Congratulations

Regards,
Ghous.
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  #23612  
Old Mar 12, 2009 3:47pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
Default

wow thats cool. how do we keep that from getting lost?

jim

Quote:
Originally Posted by PipGator View Post
Welcome, bjelakrez.

Most people recommend reading the entire thread to learn price action. I know this seems like a daunting task (I have not done it myself), but it is well worth the effort.

jdeuster, who recently made the commitment to read the entire thread, posted an excellent summary here:

http://www.forexfactory.com/showthre...99#post2585699
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  #23620  
Old Mar 12, 2009 5:00pm
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Member Since Feb 2005
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ok thanks mike.

jim

Quote:
Originally Posted by mbqb11 View Post
Jim you could link that in your first post somewhere
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  #23623  
Old Mar 12, 2009 5:21pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
Default

ok folks another tortured soul has found his way here so lets help him.

what we do here is as simple as it gets so you can stop feeling pressure and anxiety. what we do here works for almost everyone that does it right but doing it right is very hard for most people. get involved and give this thread your attention along with the guidelines in the first post. go over to the site and watch the guest videos. DO NOT EVEN CONSIDER joining anything for at least a month or two. by then you will know if this is for you or not.

welcome,

jim

Quote:
Originally Posted by gododdin View Post
Hi all

I'm new to this thread. I've been trying and failing miserably to scalp forex for a couple of years (despite having help along the way - the fault by the way is entirely mine - I just don't get it, it seems). I've read loads of books, spent many probably hundreds of hours looking at charts, and still managed to make consistent losses (some demo, some real).

Anyway, I decided to stop altogether for a bit, to regroup as it were, quit trying to scalp (trying to drive a racing car when I haven't even passed my test) and try a fresh approach...
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  #23625  
Old Mar 12, 2009 5:35pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
Default

wizard is right. i have personal emails from him back then that would probably embarass him. they are for sale. just email me for a price quote.

seriously though. many of you have no idea of the correspondence i have had with some of these long timers when they too came here lost and frustrated. it would rock you to your core if you saw some of them. now they are well known and respected members of this thread. they made it. they toughed it out even when i refused to spoon feed them. some got pissed off and left only to return later.

you would be shocked at the transformation that has taken place with them.

it can happen for any of you but you gotta listen to words like wiz's.

WIZ KNOWS.

Jim


Quote:
Originally Posted by the_wizard View Post
Mate, starting off trying to scalp in the FX markets is like doing a Masters before doing a GCSE. I know professionals that have have been trading many years that still find it hard to scalp FX successfully.

You need to take a step back. Read the thread SLOWLY from the beginning and begin demoing the principles.

You have to realise that you are going to have to UNLEARN a lot of what you have spent time learning.

But you can do it.

I was like you. If you read this whole thread you will find early posts from me when I had blown my account...
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  #23647  
Old Mar 13, 2009 12:07am
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Member Since Feb 2005
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very nice aa.

Quote:
Originally Posted by aarangio View Post
[Thanks to James16 for starting this thread. Thanks to all the posters who have made it the textbook to learn, with thousands of examples, answers to every question, insight on money management and trading styles, and lots of encouragement along the way. I have learned so much about trading in the last 2 months, all from simply reading, studying, reviewing, and applying the principles in this thread. Keep it up everybody, we've really got something amazing here

Josh
Hi ya Josh..

Thanks muchly for all the time and effort you have put into this post I have just seen....you made life a lot easy for finding a lot of the good stuff in one spot directly ..

Adrian[/quote]
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  #23648  
Old Mar 13, 2009 12:08am
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welcome home urch.


Quote:
Originally Posted by urchman View Post
A follower of james 16 thread was lost but back and better. i missed not posting here for long time. hope there's room for a prodigal fellow like me?...jaroo hope u still remember me....dibs trader
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  #23649  
Old Mar 13, 2009 12:13am
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thats cool rac. thanks for sharing that. maybe this is another one that needs to go to post 1.

Quote:
Originally Posted by raczekfx View Post
J16 is a simple method, so I'm sure with time and practice you will succeed.
Below is a curve of pure j16 trades on one of my conservative accounts over 8 month period. Well, first 30 trades were pure 16 (pins, beovb, etc..) 31-70 are still J16 trades but traded only around good confluence or ppzs.

You're not alone here. Take time to digest this material and demo until you can trade bars with your eyes close. As someone already mentioned, it's well worth studying it.
I can assure you this curve had a different slope few years ago.., but I didn't...
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  #23650  
Old Mar 13, 2009 12:15am
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Default a request

if you guys/gals know of a good post that is pretty much lost in the thread let me know about it and i will put it in a list im compiling in post #1.

dont do it here. email me with the post number please.

thanks,

jim
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  #23647  
Old Mar 13, 2009 12:07am
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Member Since Feb 2005
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very nice aa.

Quote:
Originally Posted by aarangio View Post
[Thanks to James16 for starting this thread. Thanks to all the posters who have made it the textbook to learn, with thousands of examples, answers to every question, insight on money management and trading styles, and lots of encouragement along the way. I have learned so much about trading in the last 2 months, all from simply reading, studying, reviewing, and applying the principles in this thread. Keep it up everybody, we've really got something amazing here

Josh
Hi ya Josh..

Thanks muchly for all the time and effort you have put into this post I have just seen....you made life a lot easy for finding a lot of the good stuff in one spot directly ..

Adrian[/quote]
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  #23648  
Old Mar 13, 2009 12:08am
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Member Since Feb 2005
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welcome home urch.


Quote:
Originally Posted by urchman View Post
A follower of james 16 thread was lost but back and better. i missed not posting here for long time. hope there's room for a prodigal fellow like me?...jaroo hope u still remember me....dibs trader
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  #23649  
Old Mar 13, 2009 12:13am
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thats cool rac. thanks for sharing that. maybe this is another one that needs to go to post 1.

Quote:
Originally Posted by raczekfx View Post
J16 is a simple method, so I'm sure with time and practice you will succeed.
Below is a curve of pure j16 trades on one of my conservative accounts over 8 month period. Well, first 30 trades were pure 16 (pins, beovb, etc..) 31-70 are still J16 trades but traded only around good confluence or ppzs.

You're not alone here. Take time to digest this material and demo until you can trade bars with your eyes close. As someone already mentioned, it's well worth studying it.
I can assure you this curve had a different slope few years ago.., but I didn't...
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  #23650  
Old Mar 13, 2009 12:15am
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Member Since Feb 2005
Default a request

if you guys/gals know of a good post that is pretty much lost in the thread let me know about it and i will put it in a list im compiling in post #1.

dont do it here. email me with the post number please.

thanks,

jim
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  #23703  
Old Mar 13, 2009 2:47pm
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  #23711  
Old Mar 13, 2009 6:12pm
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Member Since Feb 2005
Default Thoughts

I recieved a great question today and i thought my reply might be of benefit to some of you struggling with how to approach this business.


THE QUESTION....

I won't keep you to long as I know you are a busy man.I would have left this message on the thread but thought it may of got lost before you could see it.My question is on MM.I know you are a firm believer in taking some off the table at first resistance.and setting SL to BE.Doesn't a loss eat up a lot of your profit from prior trades?Or do you get out before the trade goes to far against you?I know there is discrepency involved here..but just a basic answer would be great.
Thanks again for all you do for us!I have had 3 trades in a little over 2 months,both were profitable.It's easy to have patience when you look at this business as you describe it!!THANK YOU,and godbless......

THE ANSWER..............

great question and a simple answer but it wont seem simple to you for a while. it will however if you keep the focus of only taking the best set ups. how do you know the best? after practicing for a while.
ok the answer.

i literally know with almost certainty that when i enter a trade its going to do one of two things virtually every time.

1. give me a profit either full or partial

or at the least

2. give me a chance to get my stop to breakeven because i understand simple side to side support and resistance. understanding this had a great deal to do with the decision to take the trade in the first place.

i go months at times without taking a loss from daily charts BECAUSE i know before i enter its a near sure thing. the losses i do take whether daytrading or not are still for the most part less than A PLUS set ups. (yes i still screw up).

those losses usually come after a very long run of winners and im feeling over confident. (yes im just like the rest of you)

since i trade with a very large account im only looking for 2 or 3 slam dunks every month. there are ALWAYS 2, 3 or more "money in the bank" set ups every month.

its actually very easy when you trade like that when you start out on daily charts IF you keep that ultra picky attitude. The hard part is for small account holders to be picky ( been there done that)

being that picky is 180 degrees different than the way 99 percent of people trade.

this is what i teach people to do.

a certain percentage try it and give it there best for 6 months or a year and a very high percentage of them find out it works.

a certain percentage refuse to try my way because they want it all and they want it now (thank you freddie mercury). many of them return when they are beat up, bruised and whipped. those are the ones i enjoy seeing make it the most. i have a bunch of them and they are my pride and joy.

once someone finds out my way works (from there own hard work) on long term charts they then have a thought.

"i just proved i can do it on daily charts so if i follow the same business plan perhaps i can do it on 4 hour"

(many never see a need to go to 4 hour or less. daily gets to easy and profitable for them to even waste there time)

Since they now "know how" to make it work making it work on a lower time frame is simply a matter of following the game plan NO MATTER HOW LONG IT TAKES.

So what does good money management mean to me?

1. never risking more than 3 percent of my account on any one trade.

and

2. being so picky and aware of the best set ups that losing that 3 percent is highly unlikely. less than a 10 percent chance.

DO I always follow my own advice?

NO, but i do most of the time.

jim
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  #23712  
Old Mar 13, 2009 6:20pm
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Member Since Feb 2005
Default where did that trillion go

damn that went as fast as the nuts with the real trillion of our money.
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  #23715  
Old Mar 13, 2009 6:47pm
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good lvg. i thought that was pretty darn cool. a picture is certainly worth a thousand words.

jim

Quote:
Originally Posted by LasVahGoose View Post
I deleted the post since I thought it was kind of a distraction to the thread, but here it is again.


http://www.pagetutor.com/trillion/index.html
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  #23703  
Old Mar 13, 2009 2:47pm
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  #23711  
Old Mar 13, 2009 6:12pm
james16's Avatar
THANK YOU MERLIN
 
Member Since Feb 2005
Default Thoughts

I recieved a great question today and i thought my reply might be of benefit to some of you struggling with how to approach this business.


THE QUESTION....

I won't keep you to long as I know you are a busy man.I would have left this message on the thread but thought it may of got lost before you could see it.My question is on MM.I know you are a firm believer in taking some off the table at first resistance.and setting SL to BE.Doesn't a loss eat up a lot of your profit from prior trades?Or do you get out before the trade goes to far against you?I know there is discrepency involved here..but just a basic answer would be great.
Thanks again for all you do for us!I have had 3 trades in a little over 2 months,both were profitable.It's easy to have patience when you look at this business as you describe it!!THANK YOU,and godbless......

THE ANSWER..............

great question and a simple answer but it wont seem simple to you for a while. it will however if you keep the focus of only taking the best set ups. how do you know the best? after practicing for a while.
ok the answer.

i literally know with almost certainty that when i enter a trade its going to do one of two things virtually every time.

1. give me a profit either full or partial

or at the least

2. give me a chance to get my stop to breakeven because i understand simple side to side support and resistance. understanding this had a great deal to do with the decision to take the trade in the first place.

i go months at times without taking a loss from daily charts BECAUSE i know before i enter its a near sure thing. the losses i do take whether daytrading or not are still for the most part less than A PLUS set ups. (yes i still screw up).

those losses usually come after a very long run of winners and im feeling over confident. (yes im just like the rest of you)

since i trade with a very large account im only looking for 2 or 3 slam dunks every month. there are ALWAYS 2, 3 or more "money in the bank" set ups every month.

its actually very easy when you trade like that when you start out on daily charts IF you keep that ultra picky attitude. The hard part is for small account holders to be picky ( been there done that)

being that picky is 180 degrees different than the way 99 percent of people trade.

this is what i teach people to do.

a certain percentage try it and give it there best for 6 months or a year and a very high percentage of them find out it works.

a certain percentage refuse to try my way because they want it all and they want it now (thank you freddie mercury). many of them return when they are beat up, bruised and whipped. those are the ones i enjoy seeing make it the most. i have a bunch of them and they are my pride and joy.

once someone finds out my way works (from there own hard work) on long term charts they then have a thought.

"i just proved i can do it on daily charts so if i follow the same business plan perhaps i can do it on 4 hour"

(many never see a need to go to 4 hour or less. daily gets to easy and profitable for them to even waste there time)

Since they now "know how" to make it work making it work on a lower time frame is simply a matter of following the game plan NO MATTER HOW LONG IT TAKES.

So what does good money management mean to me?

1. never risking more than 3 percent of my account on any one trade.

and

2. being so picky and aware of the best set ups that losing that 3 percent is highly unlikely. less than a 10 percent chance.

DO I always follow my own advice?

NO, but i do most of the time.

jim
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  #23712  
Old Mar 13, 2009 6:20pm
james16's Avatar
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Member Since Feb 2005
Default where did that trillion go

damn that went as fast as the nuts with the real trillion of our money.
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  #23715  
Old Mar 13, 2009 6:47pm
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good lvg. i thought that was pretty darn cool. a picture is certainly worth a thousand words.

jim

Quote:
Originally Posted by LasVahGoose View Post
I deleted the post since I thought it was kind of a distraction to the thread, but here it is again.


http://www.pagetutor.com/trillion/index.html
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  #23716  
Old Mar 13, 2009 6:49pm
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yes and if it bugs you new people on demo that your charts dont match mine or most eithers just go get a demo account at ibfx. what most of you dont know is i use tradestation but since most of you dont i use met4 in this thread.

jim

Quote:
Originally Posted by Mr Smith View Post
The different brokers with different shapes has been talked about during this thread many many times, what James advises is this, chose your feed, and play what you see, over time it all pans out.
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  #23717  
Old Mar 13, 2009 6:57pm
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YES!!! you guys are starting to make me a believer in these things. i can manipulate charts much easier with tradestation and these two day pin bars are under some serious research at my place.

jim

Quote:
Originally Posted by johnnyonspot View Post
That is a "two-bar pin bar." Definitely tradeable imho. I love these things! If you look at the first top of the triple top on your chart there is nother 2-bar PB that went well.
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  #23718  
Old Mar 13, 2009 6:58pm
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lol

Quote:
Originally Posted by johnnyonspot View Post
Just trying to live up to my moniker.
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  #23720  
Old Mar 13, 2009 7:03pm
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hey clock whats up man. i sent you some mail yesterday. yeah your one of the reasons i started looking closer.

jim

Quote:
Originally Posted by clockwork71 View Post
I trade 2 day pins all the time, I have found them to be every bit as reliable as a normal Pinocchio Bar.
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  #23722  
Old Mar 13, 2009 7:31pm
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yeah a lot of you guys got me looking at some things a little closer.

jim

Quote:
Originally Posted by bundyraider View Post
Ditto.

Jaroo combines bars all the time too.

I've probably taken just as many two-bar pins as single bar ones. ...On all time frames.

Comes back to what Mr Trend pointed out recently too, about releasing yourself from the pre-defined bar patterns we push here.

You do get good at putting the raw price movements into context. Lop-sided outside bars etc. lol

I trade a lot of inside bars that are actually two bar pins as well. ...They're the easy IBs to trade.
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  #23716  
Old Mar 13, 2009 6:49pm
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yes and if it bugs you new people on demo that your charts dont match mine or most eithers just go get a demo account at ibfx. what most of you dont know is i use tradestation but since most of you dont i use met4 in this thread.

jim

Quote:
Originally Posted by Mr Smith View Post
The different brokers with different shapes has been talked about during this thread many many times, what James advises is this, chose your feed, and play what you see, over time it all pans out.
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  #23717  
Old Mar 13, 2009 6:57pm
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YES!!! you guys are starting to make me a believer in these things. i can manipulate charts much easier with tradestation and these two day pin bars are under some serious research at my place.

jim

Quote:
Originally Posted by johnnyonspot View Post
That is a "two-bar pin bar." Definitely tradeable imho. I love these things! If you look at the first top of the triple top on your chart there is nother 2-bar PB that went well.
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  #23718  
Old Mar 13, 2009 6:58pm
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lol

Quote:
Originally Posted by johnnyonspot View Post
Just trying to live up to my moniker.
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  #23720  
Old Mar 13, 2009 7:03pm
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hey clock whats up man. i sent you some mail yesterday. yeah your one of the reasons i started looking closer.

jim

Quote:
Originally Posted by clockwork71 View Post
I trade 2 day pins all the time, I have found them to be every bit as reliable as a normal Pinocchio Bar.
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  #23722  
Old Mar 13, 2009 7:31pm
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Member Since Feb 2005
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yeah a lot of you guys got me looking at some things a little closer.

jim

Quote:
Originally Posted by bundyraider View Post
Ditto.

Jaroo combines bars all the time too.

I've probably taken just as many two-bar pins as single bar ones. ...On all time frames.

Comes back to what Mr Trend pointed out recently too, about releasing yourself from the pre-defined bar patterns we push here.

You do get good at putting the raw price movements into context. Lop-sided outside bars etc. lol

I trade a lot of inside bars that are actually two bar pins as well. ...They're the easy IBs to trade.
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  #23732  
Old Mar 14, 2009 2:35am
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welcome and if you need some personal help dont hesitate to send myself or one of the old timers here an email.

jim



Quote:
Originally Posted by Sohail786 View Post
Hi Folks

Another lost body here, looking to succeed in forex
markets, i first discovered forex in July 2008, started
reading on many forex forums, moneytec, trade2win etc
etc, realising all the possibilites, i quickly jumped in
the forex market getting the wrong idea thinking that i
will be a millionaire by the end of the next month (GUESS
WHAT???....... i made a million. Yeah right!).

i started trading using FXCM Demo platform, trying many
systems on this website, using indicators they worked for
sometime, until the market fell into...
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  #23732  
Old Mar 14, 2009 2:35am
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welcome and if you need some personal help dont hesitate to send myself or one of the old timers here an email.

jim



Quote:
Originally Posted by Sohail786 View Post
Hi Folks

Another lost body here, looking to succeed in forex
markets, i first discovered forex in July 2008, started
reading on many forex forums, moneytec, trade2win etc
etc, realising all the possibilites, i quickly jumped in
the forex market getting the wrong idea thinking that i
will be a millionaire by the end of the next month (GUESS
WHAT???....... i made a million. Yeah right!).

i started trading using FXCM Demo platform, trying many
systems on this website, using indicators they worked for
sometime, until the market fell into...
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  #23773  
Old Mar 14, 2009 6:17pm
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i like this chart. those arrows speak volumes and they also speak simplicity








Quote:
Originally Posted by mbqb11 View Post
Hey Dan

Welcome to your first post

You said a lot of key words in your post. "missed" "ideal" "price is now 64 pts GONE".

All leading to a chasing entry. Yes the entry was above the high of the BUOB(see raczefxs entry). Don't go chasing this entry now. If you missed the trade you missed the trade. Many more will come and go. Although I agree we will probably visit higher, if I miss my entry then I don't go after the trade anymore. It is a bad habit in my opinon.

Next areas to watch for me are a bounce at 140 or a possible break of...
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  #23774  
Old Mar 14, 2009 6:24pm
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i never get tired of these. i start reading them and i find myself hoping to see words and phrases while reading because i know if i see them a good result is probably coming toward the end of the post.

just like this one.

damn nice bilyb,

jim

Quote:
Originally Posted by Bilyb View Post
Hi guys, I took about 10 years off of trading after the dot.com collapse. I had some capital left but a job change took me away from being able to monitor my trades so I cashed out and backed off. Decided to try FOREX around Thanksgiving and burned through two $50 micro accounts in December

I saw James' forum around New Years and committed to putting the Micro Acct on time out until I polished my methods with the James16 forum teachings and a lot of Demo Account trading.

I think my worst problems until I started reading this forum from Page...
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  #23773  
Old Mar 14, 2009 6:17pm
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i like this chart. those arrows speak volumes and they also speak simplicity








Quote:
Originally Posted by mbqb11 View Post
Hey Dan

Welcome to your first post

You said a lot of key words in your post. "missed" "ideal" "price is now 64 pts GONE".

All leading to a chasing entry. Yes the entry was above the high of the BUOB(see raczefxs entry). Don't go chasing this entry now. If you missed the trade you missed the trade. Many more will come and go. Although I agree we will probably visit higher, if I miss my entry then I don't go after the trade anymore. It is a bad habit in my opinon.

Next areas to watch for me are a bounce at 140 or a possible break of...
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  #23774  
Old Mar 14, 2009 6:24pm
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i never get tired of these. i start reading them and i find myself hoping to see words and phrases while reading because i know if i see them a good result is probably coming toward the end of the post.

just like this one.

damn nice bilyb,

jim

Quote:
Originally Posted by Bilyb View Post
Hi guys, I took about 10 years off of trading after the dot.com collapse. I had some capital left but a job change took me away from being able to monitor my trades so I cashed out and backed off. Decided to try FOREX around Thanksgiving and burned through two $50 micro accounts in December

I saw James' forum around New Years and committed to putting the Micro Acct on time out until I polished my methods with the James16 forum teachings and a lot of Demo Account trading.

I think my worst problems until I started reading this forum from Page...
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  #23878  
Old Mar 16, 2009 3:54pm
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ok im telling you all im taking credit for this myself. ive had an open request for dark to contact me since january. tell em dark.

it took a while but here he be.

now i gotta figure out how to get him involved in this thread again.



big grin on my face when i saw your post dark.

jim

Quote:
Originally Posted by Darkstar View Post
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
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  #23878  
Old Mar 16, 2009 3:54pm
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ok im telling you all im taking credit for this myself. ive had an open request for dark to contact me since january. tell em dark.

it took a while but here he be.

now i gotta figure out how to get him involved in this thread again.



big grin on my face when i saw your post dark.

jim

Quote:
Originally Posted by Darkstar View Post
What up kids? Nice to see lots of the ol' FF family still around.

Sorry to jack your thread...
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  #23908  
Old Mar 16, 2009 10:08pm
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Default dow at 7000

i made a statement about being "all in" at dow 7000 if it got there but danged if i can find it.

not saying i was wrong or right at this point because its to early but im puffed a little by my good fortune.

anyone remember where that was?

jim
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  #23908  
Old Mar 16, 2009 10:08pm
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Default dow at 7000

i made a statement about being "all in" at dow 7000 if it got there but danged if i can find it.

not saying i was wrong or right at this point because its to early but im puffed a little by my good fortune.

anyone remember where that was?

jim
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  #23912  
Old Mar 16, 2009 10:45pm
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lololol. your a trip bemac you really are. ive tried several things. im wondering if i said it here or in the group.

jim

Quote:
Originally Posted by Bemac View Post
Quiet... I think I hear a snake in the grass... {ya gotta admit that they are Very efficient.}
He plans on taking All we do not protect...

Stealthly creeping into camp to gain intelegence, meanwhile scanning for weak points this guy is dangerous.

IF you're currently a bear. Huggem, for you may not see them for a while.

Sorry Merlin, tried but couldn't find the Post in question.


{ Hey Bud: Ever heard of using the Search Feature here @ FF
One of the best on the Web & you should utilize it.}


sigh: I'm probably banned from accessing...
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  #23913  
Old Mar 16, 2009 10:46pm
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thanks joe i will go look.

jim

Quote:
Originally Posted by joebryce View Post
I believe that was in a message you sent out to PF members.
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  #23915  
Old Mar 16, 2009 10:50pm
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LOLOLOLOL. NAWWWW MAN i would have expected you to know that.



Quote:
Originally Posted by mbqb11 View Post
damn I thought I was the only one to call 7k bottom, I probably subconsciously stole it from Jim

Forget my own analysis LOL
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  #23925  
Old Mar 17, 2009 12:36am
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THE STORIES THAT POOL COULD TELL.



Quote:
Originally Posted by mbqb11 View Post
inground or overground? tough to transport the former

sorry couldn't resist
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  #23912  
Old Mar 16, 2009 10:45pm
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lololol. your a trip bemac you really are. ive tried several things. im wondering if i said it here or in the group.

jim

Quote:
Originally Posted by Bemac View Post
Quiet... I think I hear a snake in the grass... {ya gotta admit that they are Very efficient.}
He plans on taking All we do not protect...

Stealthly creeping into camp to gain intelegence, meanwhile scanning for weak points this guy is dangerous.

IF you're currently a bear. Huggem, for you may not see them for a while.

Sorry Merlin, tried but couldn't find the Post in question.


{ Hey Bud: Ever heard of using the Search Feature here @ FF
One of the best on the Web & you should utilize it.}


sigh: I'm probably banned from accessing...
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  #23913  
Old Mar 16, 2009 10:46pm
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thanks joe i will go look.

jim

Quote:
Originally Posted by joebryce View Post
I believe that was in a message you sent out to PF members.
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  #23915  
Old Mar 16, 2009 10:50pm
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LOLOLOLOL. NAWWWW MAN i would have expected you to know that.



Quote:
Originally Posted by mbqb11 View Post
damn I thought I was the only one to call 7k bottom, I probably subconsciously stole it from Jim

Forget my own analysis LOL
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  #23925  
Old Mar 17, 2009 12:36am
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THE STORIES THAT POOL COULD TELL.



Quote:
Originally Posted by mbqb11 View Post
inground or overground? tough to transport the former

sorry couldn't resist
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  #23928  
Old Mar 17, 2009 12:54am
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are red sox fans allowed in there?



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HAHAH i knew it would set it off
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Old Mar 17, 2009 1:25am
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oh ok i get it. just the pretty drunk ones.

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  #23928  
Old Mar 17, 2009 12:54am
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are red sox fans allowed in there?



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HAHAH i knew it would set it off
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Old Mar 17, 2009 1:25am
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oh ok i get it. just the pretty drunk ones.

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Old Mar 17, 2009 4:53pm
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Old Mar 17, 2009 4:53pm
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  #23976  
Old Mar 17, 2009 9:12pm
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just about any ocillator will work and some say there are others that do a better job than macd.

rsi, cci, stoch among many. there are also custom third party divergence ocillators that you can purchase but they are usually created for platforms like tradstation. ive seen and tried everything folks and simple is almost always best.

ive seen a couple of third party early divergence ocillators that were of some help if your daytrading a really small time frame. if you use tradestation you can find many third party developers that do this kind of work. most of it is a waste of money imho.

jim

.
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Originally Posted by dkmb92 View Post
does everyone here just use the standard macd settings 12,26,9? i dont see anyone else using any other indy for divergence reading, so is macd considered the best? thx.
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Old Mar 17, 2009 9:12pm
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just about any ocillator will work and some say there are others that do a better job than macd.

rsi, cci, stoch among many. there are also custom third party divergence ocillators that you can purchase but they are usually created for platforms like tradstation. ive seen and tried everything folks and simple is almost always best.

ive seen a couple of third party early divergence ocillators that were of some help if your daytrading a really small time frame. if you use tradestation you can find many third party developers that do this kind of work. most of it is a waste of money imho.

jim

.
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Originally Posted by dkmb92 View Post
does everyone here just use the standard macd settings 12,26,9? i dont see anyone else using any other indy for divergence reading, so is macd considered the best? thx.
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  #24281  
Old Mar 19, 2009 6:49pm
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more pure gold from a member of the pure gold gang.

they ride hard and fast and tell it like it is baby.



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I don't know about you, but most traders I know never made any money. This is the sole reason, I don't read posts that say: I'm long, I'm short, I'm..... full of it.
It's just a noise for your brain. Trust me, your brain can be master of its own destruction. I don't remember when was the last time I read someone's journal.

The sooner you find your own way by implementing j16 method, the sooner you will be...... diapers free... (sorry for the expression, i couldn't resist)

It's sad, but 90% of people posting on FF will never...
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  #24281  
Old Mar 19, 2009 6:49pm
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more pure gold from a member of the pure gold gang.

they ride hard and fast and tell it like it is baby.



Quote:
Originally Posted by raczekfx View Post
I don't know about you, but most traders I know never made any money. This is the sole reason, I don't read posts that say: I'm long, I'm short, I'm..... full of it.
It's just a noise for your brain. Trust me, your brain can be master of its own destruction. I don't remember when was the last time I read someone's journal.

The sooner you find your own way by implementing j16 method, the sooner you will be...... diapers free... (sorry for the expression, i couldn't resist)

It's sad, but 90% of people posting on FF will never...
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  #24354  
Old Mar 20, 2009 4:03pm
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Old Mar 20, 2009 5:22pm
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you can get end of day charts for futures and stocks many places.

ken has been around a long time. many love him and many dont.

he has a great tools section to his site which i have used for years that runs 30 a month.

I AM NOT recomending anything he sells. anyone considering that needs to do there own research.

jim





Quote:
Originally Posted by baz View Post
hi Jim or anyone
where can i pick a sevice provider for these FUTURES charts
thanks in advance

baz

ps anyone heard of Ken Roberts ?
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  #24368  
Old Mar 20, 2009 7:34pm
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yeah i only hesitated on that one because it looks to a newbie like a neutral bar. its a strange bar actually at least on my ibfx feed. i will probably post it but im sure you guys already have.

jim

Quote:
Originally Posted by jarroo View Post
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
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Old Mar 20, 2009 11:01pm
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still going strong happy.

jim

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Originally Posted by happy camper View Post
Waaaaw...you guys are amaizing...James and the gang, you are still keeping the original thread alive and posting after all this time.I haven't been the part of your group for some time now,but the things I have learned with you are precious.

Thank you for everything!
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  #24378  
Old Mar 20, 2009 11:49pm
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you have been around for a while.

charting 123's on paper charts is old school.

his paper charts were great and many old timers still use them

jim

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Originally Posted by baz View Post
thanks Jim
the reason i mentioned Ken ,was i bought a Course of him,quite a long time ago.....the 123 principle..and he only did N.American futures only...and Paper charts as well !!......so you can tell how we have advanced......but thanks a lot......he has since retired,i think

baz
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  #24379  
Old Mar 20, 2009 11:50pm
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yes but even on my feed its still a bearish outside bar and at a great great place.

jim

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I see what you mean. It was a little better on FxPro.
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Old Mar 21, 2009 12:30am
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Old Mar 20, 2009 4:03pm
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Old Mar 20, 2009 5:22pm
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you can get end of day charts for futures and stocks many places.

ken has been around a long time. many love him and many dont.

he has a great tools section to his site which i have used for years that runs 30 a month.

I AM NOT recomending anything he sells. anyone considering that needs to do there own research.

jim





Quote:
Originally Posted by baz View Post
hi Jim or anyone
where can i pick a sevice provider for these FUTURES charts
thanks in advance

baz

ps anyone heard of Ken Roberts ?
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Old Mar 21, 2009 6:49pm
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kens personal road to awakening mirrors my own and the 4 star books part of his site is truly great. some of the books he offers were impossible to find or get but he used his deep pockets to make them available once again.

that move alone got my attention and admiration.

jim



som
Quote:
Originally Posted by baz View Post
Funny thing Jim...i recived a flyer and enrolled for the course....and at the same time i opened my first buisness venture.....so at the end of the day i had to make a choice....Trading ....or buisness.....and the wife made sure it was BUISNESS...i picked..
i never lost intrest in Ken, had his news letters all the time....i did do trading..on a part time basis...BUT no success.
Although one great benefit that came out from KEN was that i found the great American authour " VERNON HOWARD " and his works.
Also GUY FINLEY....
So for that i was truly...
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Old Mar 21, 2009 6:51pm
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yes in comparison to monthly range of prior bars it was short but that is relative. visually it would have been more appealing to have seen this bar with a bit longer nose but it qualifies esecially with where it is located.

Quote:
Originally Posted by marcelnyo View Post
Hi Jim, I have a question about that monthly pinbar, isn't the size of the pin is rather small if compared to the run down a few months before? I've been trying to put in consideration the size of the pin when compared to the bars before, just so that it will be strong enough to indicate a reversal,

Can you please give an opinion on this view?

but the location is one of a kind, can't argue with that.

Thanks.
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Old Mar 20, 2009 7:34pm
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yeah i only hesitated on that one because it looks to a newbie like a neutral bar. its a strange bar actually at least on my ibfx feed. i will probably post it but im sure you guys already have.

jim

Quote:
Originally Posted by jarroo View Post
Aahh . . . come on Jim. I thought you would post the Cad Weekly BEOB with divergence.

I made over 300 pips on that trade and still in it with the 2nd half. A classic J16 trade in my book, especailly for those that are working off the Weekly/Daily.
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Old Mar 20, 2009 11:01pm
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still going strong happy.

jim

Quote:
Originally Posted by happy camper View Post
Waaaaw...you guys are amaizing...James and the gang, you are still keeping the original thread alive and posting after all this time.I haven't been the part of your group for some time now,but the things I have learned with you are precious.

Thank you for everything!
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  #24378  
Old Mar 20, 2009 11:49pm
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you have been around for a while.

charting 123's on paper charts is old school.

his paper charts were great and many old timers still use them

jim

Quote:
Originally Posted by baz View Post
thanks Jim
the reason i mentioned Ken ,was i bought a Course of him,quite a long time ago.....the 123 principle..and he only did N.American futures only...and Paper charts as well !!......so you can tell how we have advanced......but thanks a lot......he has since retired,i think

baz
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  #24379  
Old Mar 20, 2009 11:50pm
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yes but even on my feed its still a bearish outside bar and at a great great place.

jim

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Originally Posted by jarroo View Post
I see what you mean. It was a little better on FxPro.
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  #24381  
Old Mar 21, 2009 12:30am
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  #24399  
Old Mar 21, 2009 6:49pm
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kens personal road to awakening mirrors my own and the 4 star books part of his site is truly great. some of the books he offers were impossible to find or get but he used his deep pockets to make them available once again.

that move alone got my attention and admiration.

jim



som
Quote:
Originally Posted by baz View Post
Funny thing Jim...i recived a flyer and enrolled for the course....and at the same time i opened my first buisness venture.....so at the end of the day i had to make a choice....Trading ....or buisness.....and the wife made sure it was BUISNESS...i picked..
i never lost intrest in Ken, had his news letters all the time....i did do trading..on a part time basis...BUT no success.
Although one great benefit that came out from KEN was that i found the great American authour " VERNON HOWARD " and his works.
Also GUY FINLEY....
So for that i was truly...
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  #24400  
Old Mar 21, 2009 6:51pm
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yes in comparison to monthly range of prior bars it was short but that is relative. visually it would have been more appealing to have seen this bar with a bit longer nose but it qualifies esecially with where it is located.

Quote:
Originally Posted by marcelnyo View Post
Hi Jim, I have a question about that monthly pinbar, isn't the size of the pin is rather small if compared to the run down a few months before? I've been trying to put in consideration the size of the pin when compared to the bars before, just so that it will be strong enough to indicate a reversal,

Can you please give an opinion on this view?

but the location is one of a kind, can't argue with that.

Thanks.
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  #24551  
Old Mar 23, 2009 7:10pm
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this may sound crazy but i almost feel a sense of graitude to these bars and how they have changed my life over the years. it took the price flips to make them really work for me and i feel the same way about them.

it is very common for me to say out loud to my computer screen.

THANK YOU!!!

they rarely fail me if i "treat" them right.

i love it when i see that same graititude toward them from some of you.

they are "market condition" proof and that is why they work such a high percentage of the time if treated correctly.

the holy grail in this business is a method that is "market condition" blind.

is this it? if so are there more?

i dont know but i do know that i dont have a regular job and i can pretty much do what i want when i want.

that was always my goal.

im about to write a check for 6 figures to the IRS tomorrow.

do i think its too much?

yes.

is it better than punching a clock, dreading monday and hoping for a thousand dollar refund every year from the IRS?

hell yes.



Quote:
Originally Posted by jarroo View Post
Ghous and I were looking at the 2 day PB on the Usd/Jpy. Nice hard break, caught 42 pips/ breakeven on that one. It will now probably go to the moon. lol
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  #24572  
Old Mar 23, 2009 11:03pm
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amen.

i was just trying to pay my speeding tickets and stay out of jail when i was mikes age.

jim

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Originally Posted by marcelnyo View Post
although I haven't known mike for a long time, I'll add a Thank You note for you, you're the best beginner instructor a beginner here could ever have, and on top of that, a really nice guy too.

Cheers.

Marcel
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Old Mar 23, 2009 11:05pm
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superb.


Quote:
Originally Posted by Bemac View Post
Honestly folks there is not One single Person on this site that Has actually Placed A Trade that doesn't know how bad it feeels to see it go against you.

Your next job is to get a little up the ladder. That's all.
{getting better by an infanite amount will do} just keep it going & keep it Slow.

Slingers: First one is Free. But then we're thinkin' of let in' Billy do what he does.


Step Aside. The Mill is in proximity.
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Old Mar 23, 2009 11:30pm
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geez you guys have way to high an opinion of me.

im so old i try to catch 4 hours around lunch time everyday.



Quote:
Originally Posted by supremeChaos View Post
I'm ECSTATIC!! I "caught" Sir Jim live right here!
I had to slightly postpone my other posts for this post...

Haven't taken a rest yet, Sir?
me, just 4hrs of sleep. it's almost lunch time here in the Philippines..
Good to see u "live" Sir!!
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Old Mar 23, 2009 11:59pm
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geez man what else can i say than your very kind.

could you get my wife and kids to think like this please?

Quote:
Originally Posted by supremeChaos View Post
i think that is an unfair opinion.



I think i haven't scratched the surface of your graciousness/willingness to help, here & in the PF. but knowing u have helped &transformed even a small number of people's lives is worth enough for me to give credit to whom it is due. I'm dang sure there are only a few people like u on this earth, so i will not definitely skimp on giving my praises. Like some others, i rarely get impressed& inspired by someone else, so i will not hesitate to tell it to your face.

You are old, yet so [b][color=red]mentally...
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  #24602  
Old Mar 24, 2009 3:05am
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hello alter,

your 4 hour bar found trouble at the previous bar lows and the 365 ema.

did you expect those areas to act as support?

are you on demo or real money?

have you mastered daily charts for several months first?

how many trades a month are you taking on average based on what we teach in this thread?

hope you dont mind my questions.

jim









Quote:
Originally Posted by alter View Post
Another failed setup on GBPUSD. There is daily PPZ at 1.4650, nice 4H BEOB developed from this area but was stop out as expected.
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Old Mar 24, 2009 3:46am
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i think your analysis of the bar lows at 4400 is spot on but the 365 and the other bar lows were in the way.

its hard for me to see your chart.

how many pips were between the break of your outside bar and where it reversed at the 365?

jim

Quote:
Originally Posted by alter View Post
Hello Jim
I expected next support at 1.4400, at the previous swing low. 1.4458 didn't look significant to me so I expected little trouble at the area but not that big.
I trade real money , 1% risk per trade.
Regarding daily/weekly charts , I wouldn't say I have better results than on H4, it is the same. But I don't have a lot of daily / weekly trades , maybe 5 daily /3 weekly per month on avarage
Anyway I thought this is good setup, good location, nices looking bar, the same as CADJPY PIN yesterday, but unfortunately both with the same result....
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Old Mar 24, 2009 4:03am
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stay with me here. if you will we can all learn.

if you had noticed that area would you have brought your stop to breakeven, taken full profit or taken partial and brought your stop to breakeven?

would you under any circumstances have left your stop at any level of loss if you had taken that area into consideration as support when price reached that level?

jim



Quote:
Originally Posted by alter View Post
Supremechaos, I expected to be stopped out as I do on every trade. Ok you can say there is some S/R area at 1.4450 but you can find this kind of small S/R almost everywhere. I wouldn't take any setup at all if I consider any minor obstacle.

Jim the trade was about 35 pips positive at the most. But the risk was 160pips.

alter
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Old Mar 24, 2009 4:27am
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risk/reward ratios will never even be a consideration for you ever again when you learn to not hope on something happening.

i think your closer to figuring this stuff out than you know. i wasnt sure after you posted your charts but i am now.

what you just said is this....

i was willing to risk a huge loss because i was hoping that the 365 would not hold. when it did hold the amount of positive pips did not meet what i have learned about RRR so i had to ignore it to be trading "right"

read that until it really sinks in.

if that 35 pips had been worth 5 grand would you have watched it take you out for a 20 grand loss?

jim







Quote:
Originally Posted by alter View Post
Well, actually I considered the high of the BEOB and PPZ at 1.4650 as a much stronger resistance. So even if first attempt to get through ema365 were not successful there still would be good chance for trade to go in my favor. If I take 35 pips and have 160 pips SL my RRR would be very low and I would need to have at least 80% winners jsut to BE.
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  #24622  
Old Mar 24, 2009 4:50am
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alter if i can get you or anyone else to step out of the box and just trust what im telling you AND....

demo on daily charts only until you have a minimum 3 months in a row positive then i can almost garuntee you can build an account when you go live.

i cant make any of you do it but i can tell you the vast majority that do follow that advice have an ahh ha moment during those months of demo.

it happens to almost everyone.

your taking the hard road thinking your taking the easy one.

its ok ive been there brother and i WILL help you if you will let me.

jim



Quote:
Originally Posted by james16 View Post
risk/reward ratios will never even be a consideration for you ever again when you learn to not hope on something happening.

i think your closer to figuring this stuff out than you know. i wasnt sure after you posted your charts but i am now.

what you just said is this....

i was willing to risk a huge loss because i was hoping that the 365 would not hold. when it did hold the amount of positive pips did not meet what i have learned about RRR so i had to ignore it to be trading "right"

read that until it really sinks...
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  #24623  
Old Mar 24, 2009 4:51am
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like i said your closer than you think.

jim

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Yes Jim this is exactly what I thought it was just not enough pips to take. I was watching this trade to have a trouble at that area, but I didn't feel like to do anything with it at the time.
Thank you for your help, I hope I can do it right next time. I will let you know If I can.
Thank you
aler
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Old Mar 24, 2009 3:51pm
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YES!!!.

you get there by doing this on demo until you gain the confidence thru actually doing it and seeing it work.





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the trouble with this stuff is actually having the confidence to believe that price is going where you think it is and WAITING for the perfect setups.
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Old Mar 24, 2009 4:17pm
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FANTASTIC.

if going to 1 hour to fine tune your entries works for you fine but it causes problems for some.

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Hi Jim

I've just started on the 'road to recovery' - demo trading daily charts until I have 3 profitable months in a row. It is a very different experience to the angst I was constantly feeling in my previous incarnation as a scalper - there is plenty of time to carefully consider every trade, and I'm trying to school myself only to look at charts morning and evening so that I don't get tempted to do anything stupid. It also makes it easier to keep good records when you only have one trade or so a week!

So far I've made 2 trades - 353 pip gain...
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Old Mar 24, 2009 4:24pm
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wonderful. this is heading for post one.

jim

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I don't share here much, but I read it religiously every day. I wanted to chime in with a couple of things that have been clicking for me.

I've been backtesting using a backtest program. Which means taking trades manually while the market replays as live. It's a great way to get experience under my belt and it means that I can take or pass on 40 weekly pinbars in a day, rather than waiting 3 years for them to appear in demo. I used to think backtesting was to find out if the system works, and hell why did I need that because I believed Jim. Now...
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Old Mar 24, 2009 4:28pm
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this is common.

is using a tiny account ok instead of demo?

sure it is but the tendency is there to "get jiggy with it" if yoiu know what i mean.

jim

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James and others,

Do you really not think its better to trade smallest lots possible with a small account and prove there u could be positive for 3 months etc, or is it merely the fact that psychologically you think people wont stick to it ?

For me, on demo my mind just tells me to take trades i may not ordinarily take, regardless of how much i tell myself to be honest about it ...

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Old Mar 24, 2009 4:30pm
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Quote:
Originally Posted by jarroo View Post
If Price touches my entry and then starts moving against me pretty hard, I'm out. I'll give it a little time to prove itself, but not much. I believe a quality PA setup is a high momentum setup as well. Check the thread for A+ PA setup and see how the break performed. You'll be convinced as well.
THIS IS PART OF THE AHH HAA PROCESS DURING DEMO THAT USUALLY TAKES PLACE. WHEN YOU GET GOOD AT THIS THE POSSIBILITY OF TAKING A FULL BAR LOSS IS ALMOST ZERO.

EVERYONE SHOULD PRINT THIS AND PASTE IT ON YOUR OFFICE WALL.
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Old Mar 24, 2009 4:32pm
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DAMN!!! EVERY SINGLE POST IM SEEING TODAY IS FREAKIN GOLD.




Quote:
Originally Posted by mbqb11 View Post
But what I will say is that fiji trader said something about demo that changed my mind in my recommendations to others. It was about doing it on demo because this is challenging your own ego. If you can't fight that ego on a demo you won't be able to put your ego behind you with real money. It has to do with taking control of your ego now before it comes back to haunt you down the road. Fiji is just a plain genius

Mike
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Old Mar 24, 2009 4:47pm
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im gonna talk about this post by jarroo again.

"A HIGH QUALITY PA SETUP IS A HIGH MOMENTUM SETUP AS WELL".

ive been trying to say that in an understandable manner for nearly 5 years and he just did it in one sentence.

the sheer fact of that statement is why so many people that have gone down this james16 chart thread road have found some success.

i cant force that into your brain.

YOU MUST LIVE AND EXPERIENCE IT ON YOUR OWN.

JIM




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I believe a quality PA setup is a high momentum setup as well. Check the thread for A+ PA setup and see how the break performed. You'll be convinced as well.
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  #24698  
Old Mar 24, 2009 4:49pm
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your very kind but spend a month or two here first.

it will serve you better.

jim

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James thanks to you , after a year of wandering from one indicator to another , im finally starting to undestand trading , will be joining your group very soon. and to all the others on this thread thank you
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  #24700  
Old Mar 24, 2009 4:56pm
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Default futures demo

Many of you can never find a free way to demo futures other than on paper.

intraday is impossible for free.

i usually dont do this but im gonna break down and give you a place that is reasonable but not free. this is a demo set up that has a small monthly fee.

this is an old and trusted futures platform that can handle anything including forex and you can trade from the charts and do a ton of stuff.

if you ever get to be a regular intraday trader and you try trading from the chart you will never go back to anything else.

i dont make rec on anything and this is no different.

im just giving you something to consider if 50 or 60 bucks a month is acceptable. getting the cme products will cost you extra if memory serves me correctly

www.strategyrunner.com
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Old Mar 24, 2009 5:25pm
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great g,

sounds like you have your head on right.

jim

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Thanks for all the help in this thread Jim. I'm becoming more and more of a believer in this method as I see it work every day.

I agree that using a small/tiny Live account can be better. It has been much better for me personally. I understand the tendency to "get jiggy with it" but the way I'm fighting with that is with proven results. So far trading daily pin bars / outside bars has proved profitable so I have increased my size a little bit. On the other hand my trading of 4HR and 8HR bars has been a struggle. I think I'm at breakeven or...
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Old Mar 25, 2009 6:49pm
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i like this. this person gets it.

he knew where the first area of support was and he knew it could turn back which it did.

this is how we keep from losing money and eventually get to where losses are rare.

very nice,

jim

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For those in the trade.... an update, 54 has been hit as expected and has reversed back to the entry ...lets see what happens from here
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Old Mar 25, 2009 6:52pm
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yep.

that one made it to post 1.

jim

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http://www.forexfactory.com/showpost...ostcount=24631

on a serious note..... Thanks a lot for this TiaForex.
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Old Mar 25, 2009 6:59pm
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man i wish i was there having a cold one with you.



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Have to agree. I just read this from a bar in key west. no i havent been trading while i'm here. Too Risky.... but having this business alows me to be here..
I think I'll sail home friday.
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Old Mar 25, 2009 7:07pm
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ive just about come to the conclusion that B is either shakespeare rencarnated or has been taken over by his spirit.

i bet b would be really cool to sit down in an old castle late at night with several beers and just talk.

jim

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1) Never can it be so. Period Exclamation etc. etc.

2) Don't chase it but allow it to come to you. This takes Time & Focus.

3) Mentally Chasing Pips you left on the table will do one of two things.
a} Drive you Nuts.
b} Give you a further education.
Make sure you know which track you are on.

4) As long as the "Push" is in the basement. Don't Push the Front, that has only one outcome. Push the Understanding.
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Old Mar 25, 2009 7:39pm
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MAN I WOULD LOVE TO DO THAT.

somewhere deep in my soul i remember the old country.

ive "been gone" for around 300 years but i can still sense it.


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Borthwick Castle. See you there & I look forward to an evening of port & cognac & good word.
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Old Mar 25, 2009 10:52pm
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this is where the light must come on and it will if you work for a while.

matts post mentioned it went to a certain level and i was rejected.

this was a great example of what we teach.

this was an easy profit but most would have watched it disappear into a loss.

as mike said it went exactly where we would have expected.

would we like to see price break thru and give us more?

you bet but it did not and we knew right away to not let it turn into a loss.

stick with it DUDE it just takes a little time.





Quote:
Originally Posted by ForexDude View Post
Hello, I followed that trade and instead of going down, it went up...

Same happened with AUD..

any ideas?

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Old Mar 25, 2009 10:54pm
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you honor me much more.

trust me,

jim

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Thanks man. That's an honour.
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  #24882  
Old Mar 25, 2009 10:55pm
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post that chart as it shows now joe.

jim

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Beautiful pinbar just screaming TRADE ME after retesting ppz and trendline
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Old Mar 26, 2009 12:28am
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great find joe.

whatever happens this is an example of a nice set up that has given a nice profit and should be "thanked" by taking partial profit or AT THE VERY LEAST STOP IS AT BREAKEVEN.

We then relax and watch for a hard break thru those bar lows. when it does we smile and know we just did something from a standpoint of knowledge and not hope or guessing.

jim

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Broke just like Jaroo likes to see. Let's see what happens tonight.
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Old Mar 26, 2009 12:33am
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this one chart and the first one from joe should keep all of you up tonight thinking about the day when

1. you only take the best set ups like these and...

2. your doing it with a very large account and the subsuquent money means you can tell your boss good bye and good luck.

jim



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Beautiful.

This break confirmation puts the "plus" in an "A+" trade in my book.
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Old Mar 26, 2009 12:35am
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your my hero.




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Man those ones always makes me drool, but I'm still forbiding myself to trade lower than dailies after profiting 6 months in a row with daily+weekly.
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Old Mar 26, 2009 12:40am
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you have really hung in there joe.

im to busy to notice people until or unless they are hanging in there.

you qualify,



jim

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and a little thanks to you big guy
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Old Mar 26, 2009 12:54am
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hey krue,

the honor is all mine.

your taking a very big risk jumping into this before it broke the top of your two day "pin" bar. i put quotation marks around pin because its not a pin until it breaks.

lets see how it works out. im going to have a talk with it on your behalf but if i convince it to go your way you gotta promise to be more careful in the future.





Quote:
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Hi, James, on my screen, I am sitting beside you now, what an honor !

Probably I jumped into this trade too early? or can this be a plus A setup? thank you.
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Old Mar 26, 2009 2:02am
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welcome gov.

no need to be nervous. take your time and when you get a chance go over and watch the guest videos.

jim

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An introduction from gov, my first post.

Sometimes REALLY good things happen, in our lifes that is, and when it concerns honesty, integrity and empathy, in the form of giving to others then it all adds up to an exceptional experience.

I've started, I'm into it, the thread that is!
Hunkering down to some serious reading/study + demoing + learning the virtue of patience + learning from some traders/people that belong in the aforementioned category.

I won't go on too much, but gees you guys give me a tonne of enthusiasm.
Shares & CFD's...
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  #24969  
Old Mar 26, 2009 3:19pm
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i enjoyed this post kp.

looks like your heading in the right direction.

jim

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Hey guys,

I don't post here much but I am around for a long time. I took a great trade last week which I wanted to share. This one jumped out at me and this is something what happens over and over when you are patient. I have learned in the last couple of months that I don't need to force a trade, because they will come and "jump out at you".

There was a lot of discussion last week regarding the weekly BeOB on USDCAD. I was planning to take the weekly trade. However, before this happened, a beautiful Pinbar on 1h showed up. So far I have not...
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Old Mar 26, 2009 3:25pm
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ok krue i talked to it and got you positive a bit.


whacha gonna do with it?


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hey krue,

the honor is all mine.

your taking a very big risk jumping into this before it broke the top of your two day "pin" bar. i put quotation marks around pin because its not a pin until it breaks.

lets see how it works out. im going to have a talk with it on your behalf but if i convince it to go your way you gotta promise to be more careful in the future.

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Old Mar 26, 2009 3:38pm
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lol. looks like i got him around 50.





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A teaching moment. I love it.
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  #24976  
Old Mar 26, 2009 3:40pm
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lol,


i would try but i would rather you not put me under that kind of pressure.

in all honestly i was pretty sure he was going to get his chance.

question is did he take the oppurtunity?

i hope so.

jim

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Originally Posted by coscorp View Post
James..if I send a couple of PA's your way from time to time...will you give them a friendly talk on my behalf too?
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Old Mar 26, 2009 4:16pm
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very nice of you mark.

jim

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Originally Posted by markmm View Post
Hi folks,

I've written a strategy for ninja trader for PA indication. Basically you add the strategy to any chart (doesn't matter which one as this is a multi instrument/multitimeframe strategy) and at every bar close of every pair of every timeframe (1hr-1Week) it looks to see if it is a PA bar (PB, IB, BEOB, BUOB, DBLHC, DBHLC) and if so adds them to a grid (with sound alert), with other useful data (entry,exit, stop size, pin nose size etc).

Here is a screen shot from now. Let me know if anyone is interested and ill send it,want to give something...
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Old Mar 27, 2009 2:31pm
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Default NEW GUEST VIDEO

Just stopping in for a second to post this but i will drop back in later today

i just posted a short video in the guest area on pivot zones.

btw, i did see krue's message and all i can say is this.

i got just as lucky as you did. well maybe not. LOL.

jim
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Old Mar 27, 2009 6:14pm
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ahhh man i aint nobody but im glad if you at least made breakeven on this.

jim

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Jim, as always, I am so grateful for your mentoring. after seeing your yestodays' comment, I told my girlfriend that I really love this man, she was excited too.

okey, let me try to answer the question as a learning opportunity for your review, kick me off if I made wrong point. thank you.

what I will be doing is to keep this trade open and tight, first target point is .9500, then, 0.9600. I believe in this pair has the energy to reach its historical high, and nothing more than that if I am not wrong.

I haven't had such a pleasant chat in...
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Old Mar 27, 2009 6:17pm
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welcome sn,

jim

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Originally Posted by sn3h View Post
Btw good morning, and thanks for nice thread.... I've been scouting around for a long time, this is the first post
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Old Mar 27, 2009 6:29pm
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ok this might be post one material.

jim

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Originally Posted by raczekfx View Post
Trading plan for fiber from yesterday after replying to someone.
1. we've got our pa setup
2. wait for rac's favorite retrace
3. stop above PA or 61 if you're ultra cautious
4. sell
5. tp? if yes, take some or full profit

This is exactly why most of successful traders following j16 method, ignore the news (I meant analysis) written by 'analysts'...

If they were good traders, they wouldn't have to earn a living by writing stories. When they wrong, they twist a story around and come out with a new analysis, correction theory or another...
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Old Mar 29, 2009 5:49pm
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looks like post one material.

jim

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Originally Posted by clockwork71 View Post
I have come to understand recently that it really only takes one good trade a month. Not that I only take one trade a month, just that it seems there is always one trade that "shows up" to give me a majority of my gains.

Typical month these days.....5-7 trades.

1 monster winner. 2 losses. 2 smaller wins. But the one monster trade always seems to be good for a few percent of gains.....I like trading this way, it's less stressful. It truly is about waiting.....
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Old Mar 29, 2009 6:03pm
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LOL.

i always get a kick out of these.

ive been studying candles since they became "popular"

they tell the same story as bar charts imho.

the only difference to me is how they look.

any candle formation you can show has its bar twin.



jim



Quote:
Originally Posted by ChartChecker View Post
This whole thread is about advanced identification of setups. It explains that which is otherwise known and explained well in many advanced candlestick manuals. The difference is that these chartists use bar charts. Try changing to candles. Much easier to read the market and find setups.

One must praise the persons for identifying trading mechanics using bars. But the Japanese discovered these insights centuries ago trading rice markets and they can be found in most japanese trading manuals. Nothing is new in life' so let us praise those who originally...
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Old Mar 29, 2009 6:18pm
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outstanding. really pharm this is really good.

IT WILL BECOME GREAT WHEN YOU HELP BEGINNERS GET THERE ALSO.

you seem like the kind of person that understands that so i hope you will.

either way you certainly blessed me with this and it just shows once again if its done correctly it works.

thanks,

jim



Quote:
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Yes, Bodhi means; awakening, enlightment, awareness, understanding. I've been waiting 8 months to make my first post here on this FF thread. Waiting until I felt I had acheived my A HA moment. I'm a member of the PF but not a frequent poster in either. Rather, I am a learner, one who studies.

So what was the genesis of my first post? Well, after spending 6 months studying the material in the PF, I resumed live trading. For the past 2 months, my small account is up 13%. I have taken 4 trades, 3 winners, 1 breakeven. I'm a little more aggresive...
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Old Mar 29, 2009 6:35pm
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yeah your right. im gonna reword that post.

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Yeah, they both give you the same information. I have to semi-disagree with you on bars been clearer.

It's obvious it depends on the individual. Look at Jaroo.

I use candle charts myself to see different things clearer occasionally.
Personal taste. Neither is better.
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Old Mar 29, 2009 7:00pm
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theres a great method buried in there somewhere but i will let the younger crowd find it.

lol

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Actually I was thinking of changing to the Forest charts.
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Old Mar 29, 2009 7:16pm
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how about dot on close?

ive been playing with this one for a long time. lol



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Originally Posted by bundyraider View Post
Why complicate things. Kagi. Fo' sho' Bro'

Go no idea how you trade this. lol
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Old Mar 29, 2009 7:32pm
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its a 12 gauge pattern after i actually tried to trade it one time.







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is that the big dipper
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Old Mar 29, 2009 9:16pm
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no, as you can clearly see it goes much deeper than that. lol.




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lol. The shot gun approach. I thought that was just an analogy you used.
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  #25225  
Old Mar 29, 2009 9:28pm
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very nice rac.



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Originally Posted by raczekfx View Post
yup, these are cool, I had lots of success with these. Thanks for the indicator you've uploaded to the PF. It's priceless...
I had my friend recompiled it and he came up with this one-sure bar indicator. I love it, no noise, just one bar and a huge black hole.....
.
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Old Mar 30, 2009 2:20pm
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starting about 3 weeks ago i try to stop in every day and skim every post since my last post.

doing that right now and proud doesnt do it justice.

i see the old timers helping day in and day out.

i see the mid level people starting to get it and showing that excitement that comes with starting to get it. YOU are the next generation of old timers.

i see the brand new people asking the questions that we all asked early on and feeling nervous in doing so and i see people purposely jumping in quickly to make them feel safe and secure.

i see a thread i started many years ago doing what i started it for... helping people.

i see a group of great friends and decent people that give of themselves.

i see greatness because so many of you show love, kindness and a willingness to help your fellow man/woman.


im proud of all of you.

damn proud.







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Originally Posted by jarroo View Post
Gotta go gang. Great trades today.

I'm sure we made James16 (Jim) proud today.

Later,

Jim
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Old Mar 30, 2009 2:24pm
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you did this.

i gave you a simple easy method and YOU made it work.

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Originally Posted by TiaForex View Post
6 trades taken this month.

2 break evens, 4 winners, zero losers

James16, thank you thank you thank you.
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  #25362  
Old Mar 30, 2009 2:35pm
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nothing wrong with this at all.

a profit is a profit. the only time i ever regret doing this is when i dont leave just a little on the table with stop at breakeven and it runs for 2000 pips.

when that 270 pips is worth 27,000 or 270,000 man what a feeling that is.

nice job simon.

jim



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Originally Posted by simoncs View Post
please take this with a pinch of salt but...

even though most of the setups were weekly tf I have actually come out of all of my positions - I know many of you will still be holding shorts on ej, gj etc - and i don't want this to influence your own views.
Now i could be wrong and i wouldn't normally adjust trades from a lower tf but the recent daily TL was too hard to ignore.
Most notable on the gbpjpy which i am now long (demo only) - this got me looking at gbpusd which i see a retest off the bearish TL to go long - lots of confluence in this...
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  #25366  
Old Mar 30, 2009 2:41pm
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ive said it a thousand times but here it goes again.

this is how people make it in this business.

saying it and actually doing it are two different things but after a year or two most peolple are able to succesfully trade even a 4 or 1 hour chart if they have gone thru the process correctly. what they usually discover during this process is that a large account with a daily chart is just much to easy to stress over a 1 hour chart.

good for you mark,

jim

Quote:
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Hi,

I am in the middle of a month off work, between contracts and have spent almost every waking hour studying the FF forum, different systems etc. However I got the idea that I wanted to not work again and to do that with my limited account J16 method wasn't going to get me there in the short term. I tried various lower TF systems (15min, 5min, 1sec!) and found out that they are all very risky and not worth the work involved, I came out about even on my live account.

During this time I felt stressed out that I had to find this system and although...
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Old Mar 30, 2009 2:53pm
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LOL. rac knows me so well it scares me sometimes. not sure how he "knows" these things but it sure seems like he does.

the most important part of his post is where he has used his own twists and combined it with these methods.

i always encourage people to do this.

are you fine just using it as it is? sure but the process of learning is invaluable to you in the long run.

This process is how my methods were derived.

years and years and years of looking and experementing.

funny how it all lead back to simplicity but thats what happened.



Quote:
Originally Posted by raczekfx View Post
Hey Baz
Before you thank me, thank James first...
My entire trading is based on his method with a small twist here and there thanks to R&D...

He's not telling us everything yet (and I'm glad for that), but if you watch his videos few times, you should have more than few A-HA moments, which should empower you to do some research and eventually come up with a good and profitable trading plan for yourself. I'm glad that James does things the way he does instead of spoon feeding us...

He's method is such a gem, that I'll be looking for a new...
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  #25370  
Old Mar 30, 2009 2:54pm
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lololololol


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this guys trades against himself...& both sides are profitable
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Old Mar 30, 2009 3:02pm
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thank you Jd,

jim

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Originally Posted by Jduester View Post
Jim,
What you've said reminds me of a great book/movie/message - Pay it Forward... At some point someone has helped us in life. We then 'pay it forward' by helping the next guy/gal...

I would consider myself in the 'mid-level' section of your post, although I might be more an 'old-newbie' yet. Your example of continuing to help others (regardless of experience/knowledge/account size) has led all these great 'oldies' to help us newbies.

You're active participation in this thread lately hasn't gone unnoticed either. It says a lot when...
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  #25373  
Old Mar 30, 2009 3:03pm
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thank you also bak,

JIM

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Originally Posted by bakko85 View Post
This is the first post i write to J.
I'm only a big noob, but i want to thank you because this thread was probably the salvation from the dark world of trading
Thanks a lot, thanks for the opportunity you gave to us!
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  #25386  
Old Mar 30, 2009 4:08pm
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Originally Posted by jarroo View Post
I believe a quality PA setup is a high momentum setup as well.
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Old Mar 30, 2009 4:29pm
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wow pip this is great.

now that post 1 is under your belt i hope you will get involved on a regular basis.

where in southeast kansas?

jim

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Originally Posted by pipslapped View Post
I just wanted to say thanks to Jim for this post and to everyone else for contributing. I am a recovering indicator junky. I am guilty of having several indicators on my charts. Literally living and dying by those indicators.

I am one of the lucky few though who after a year of live trading using only indicators. I am still here and haven't blown my account. I have managed to stay one step ahead of the market but with some serious frustation with my trades. The typical one step ahead and two steps back approach. To be honest I am not sure how...
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Old Mar 30, 2009 4:47pm
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exactly due east and about 45 minutes from where i have spent a lot of great times.

those days on a regular basis are over sadly.

i hope i live as long and good a life as they did. (wifes grandparents)


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Pittsburg
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  #25401  
Old Mar 30, 2009 5:14pm
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Welcome To Any And All That Are New To This Thread.
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  #25448  
Old Mar 30, 2009 8:42pm
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naww he is just young with a flat belly.

i dont remember having one myself but i do have pictures of one long long ago.

jim

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Is Mike really true a playa? lol It seems that Mike always been associated with women since this thread started. Wonder why..Mike must also be picky in this stuff
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  #25449  
Old Mar 30, 2009 8:43pm
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post one here i come.

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Originally Posted by mbqb11 View Post
To me a high probability setup is taking all the pieces into account. Do I only take huge pins at resistance or support? No, I will trade a beautiful huge pin at a clear swing point in space all the time. Are they more rare? Yes. but they happen and we just have to wait for them. Will I trade a pin, in some traffic but off a perfect area that I was watching for weeks/months to hit? You betcha.

What I am really getting at is this, and actually clockworks post above is a key example.

As traders, we feel the need to trade. Trading should be to...
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  #25451  
Old Mar 30, 2009 8:54pm
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i know this very well.

to me this says/means...

we are spirits lost in a dream.

when the struggle to awaken means more than anything else it will happen and we will find that we were safe at home all along.

Eliot always makes me think like that.

jim



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"We shall not cease from exploration. And the end of all our exploring will be to arrive where we started and know the place for the first time."
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Old Mar 31, 2009 12:44am
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great post uber,

jim

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Originally Posted by uBERpIP View Post
I did not take this trade in my demo, as I'm supposed to be focusing on Daily/Weekly.....but it's hard to break old habits.

At least I only "looked." It was probably a "C" set up at best anyway.

But seriously guys, I know you can't tell by my posts/questions sometimes, this thread and Silent Service have given me a real wake up call regarding a trading philosophy.

I've spent every day off from work in front of the charts for the past 2 months, trying moving crossovers, stochastics, etc... and having my eyes glaze over trying to keep...
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Old Mar 31, 2009 2:33pm
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Quote:
Originally Posted by MPP View Post
Wassup Mike, like the new wheels was this another drive by pip hunt.

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Old Mar 31, 2009 2:35pm
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Quote:
Originally Posted by bertie123 View Post
Guys

Just taking a quick peep at what y'all are up to.......I am working my way thru entire thread, some 25,000 posts, for 2nd time. Phew! Determined to come back better and stronger than before.....now truly believe that it is mastery of self which is most important in trading, something which has to be worked on! Anyway, looking forward to joining all of you FX luminaries in a couple of weeks when I finish the thread! Again! Many pips to you all,

berti
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  #25573  
Old Mar 31, 2009 2:58pm
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yep and how many times in your life have you had that opinion about something only to have it turn out to be a big let down?

not this time.





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I'm seeing this and its almost to the pip in some cases, absolutely amazing its shows the power of PPZ. Add PA and some confluence and your done!.
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  #25574  
Old Mar 31, 2009 3:02pm
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when its all said and done its those 40 pip profits on a daily chart instead of losses that will seperate the boys from the men with this material.

nice,

jim

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Originally Posted by KissFan View Post
This trade has given up some profit (35 pips)and I have taken half of my position off the table at 1.4347. I have also moved my SL to 1.4312(BE). My ultimate TP for this trade is the 1.4407 area. Update: This trade has ended. Stopped out for a total profit of 35 pips.
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  #25582  
Old Mar 31, 2009 3:28pm
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gee whiz.

ive made it to cuba.

i honestly shake my head in disbelief at times over this threads adventures.

jim

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Good stuff Bertie.
I think going through this material more than once is key. Sometimes it takes a while to sink in.

It reminds me of my recent vacation. Before I left I felt like I needed some quality reading to rejuvinate me, so I printed out all kinds of J16 material. Old stuff, new stuff, whatever. (and when I say old I mean stuff from like page 1)
So there I was on the beach in Cuba enjoying the sunshine, warmth, beautiful ocean while looking at pin bars and BEOVBs.
People had their hardcover novels, and I was there struggling with stapled...
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  #25585  
Old Mar 31, 2009 3:33pm
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exactly.

if you always only take the best set ups the best set ups are always going to give you a profit.

if you always end a trade with profit or at breakeven this means you never lose.

if you never lose then.....

i will let the reader fill that in.

jim
Quote:
Originally Posted by jarroo View Post
KissFan and I believe scott087 may have realized this.

For me, it was truly one of many J16 "Ah HA" moments. Even though the setup looked like it could produce more pips.

I like taking these moments, re-live them and never look back.

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Old Mar 31, 2009 4:05pm
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you can micro trade with a mini or full account with ibfx seve.

your charts will match most of those here also.

jim

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Can someone recommend a few brokers that use micro trades working with Meta Trader?
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Old Mar 31, 2009 4:30pm
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thats freakin great ub,


LOLOLOL

jim

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Another photo of FX education taking place in a tropical setting.
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  #25635  
Old Mar 31, 2009 8:59pm
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i did this for 8 years grover.

you should be thrilled you have discovered what you have so early on.


jim




Quote:
Originally Posted by Grover View Post
You'd figure after reading this chart for months and months I'd get the hint...

I took a couple days off after a couple of losers, came back and did awesome last week only taking A+ trades (291 pips - which may seem tiny to most of you, but it was huge for me). Then last night I figured the EJ would stop retracing so I placed a short - big mistake - 250 pips later I'm right back where I started.

I sometimes 'force it' thinking that if I have the shotgun approach (I know, I know) it'll turn around for me. It's definitely frustrating seeing all...
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Old Apr 1, 2009 5:18pm
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very nice ghous.

this shows that even less than A PLUS set ups are usually very tradable and profitable once you know where its going and what to do when it gets there.

new people should start with the best and discover this themselves on demo.

starting out with real money on less than A PLUS set ups are why people get into trouble and its very sad for me to see people do that.

why?

they were so damn close if they had just gone about it right.

watching this happen to someone is probably the hardest thing for me with this thread and the group.

thankfully i have many of you that do your best to help me prevent this as often as possible.

jim

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Originally Posted by ghous View Post
This one took it's time...

At the end of the day PA still rules

Regards,
Ghous.
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Old Apr 1, 2009 5:21pm
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see previous post four. good question and it needs a good answer. ghous reply that it was decent is correct in my opinion but never confuse decent with real good or great. when you get good at this the decent ones are usually worth a profit but it should be done only after proving it on demo first.

jim

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Originally Posted by Four Kids View Post
Ghous why did you take this OB? To me it does not appear to be at swing H/L, or at PPZ, and does appear to be in traffic.
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  #25728  
Old Apr 1, 2009 9:02pm
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in time this approach will pay off with a very good chance at making that so much talked about 5 percent that make it in this business.

i dont know what else i can say to someone that is following a path that i walked myself.

its the only path that i personally ever found that worked.

i guess there could be others but i only know of one.

when or if jd's account balance reaches half a million or so you wont see him taking more than several trades a month.

at least thats my bet.

very nice sir,

jim






Quote:
Originally Posted by Jduester View Post
Gotta go out for a few hours, but wanted to post my March results.
As most of you know, I'm trying to follow the James16 minimum requirements to a 'T'. Trading only Day/Weekly. Doing my best to only take A setups. Getting better at that.

Feb: 13/16 winners, 8+% account gain
Mar: 13/15 winners, 2+% account gain (different exit strategy, more like J16's)
April: ...
May: Live with small account if April is positive.

I'll be giving an update to my testing of exit strategies later this week or maybe on the weekend. I'm also done backtesting, but...
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  #25729  
Old Apr 1, 2009 9:05pm
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i love reading these "stories"

they are pure gold for newbies if they take the time to read them.

jim

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Hi all.

[color=black]I just wanted to share with you that I learned a good lesson last night, and luckily didn’t lose any money. The euro dropped like a rock right to the support trendline that I was looking for, and it rejected hard off it, and I was afraid it wouldn’t come back around and re-test it. So I saw it start to move down towards it again, but it was struggling. I figured I would just get in long, in case it couldn’t push lower and took off north, even though we were about 50 pips above the trendline, and I set...
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  #25731  
Old Apr 1, 2009 9:11pm
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wow thats a can of worms. old timers here would know what i mean.

i will just say this and if someone can dig up one of my rants about how account sizes have everything to do with who you will be as a trader then post it. actually i think some of it might be in post 1.

i will do some looking.

jim

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Jim,
You mentioned in your earlier posts on the thread to have a sufficient account to go live with. Could you say what you might consider that to be? I haven't run across it yet going through the thread.
Appreciate the wisdom here.
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  #25732  
Old Apr 1, 2009 9:15pm
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yes i talk about it in post 1.

it is very hard to stay patient with a very small account.

in my honest opinion the larger the account the easier it is to trade succesfully.

why?

you dont need more than 2 or 3 good trades a month so your not over trading.

how much money that is to you i dont know.

its one of the basic "truths" of this business.

jim



Quote:
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Jim,
You mentioned in your earlier posts on the thread to have a sufficient account to go live with. Could you say what you might consider that to be? I haven't run across it yet going through the thread.
Appreciate the wisdom here.
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  #25737  
Old Apr 1, 2009 9:44pm
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always remember this and its in this thread somewhere.

i personally blew more accounts than i can remember over an 8 year period.

a 6 figure amount total.

things turned around for me when several things happened.

1. i quit trading and saved for over 2 years. i knew i couldnt be patient with small accounts. i had proven that over and over and over.

2. i took all my years of learning and spent those two years demoing and refining until i could go month after month after month making the demo account grow.

3. when the time to go live came i had a large enough account that if i was ultra ultra picky blowing the account would have been almost hard. my account was large enough that i only needed a couple of great set ups a month to bug my eyes out with joy.

i doubt seriously if any of you have been, or ever would go thru the hell i went thru.

i dont say that with pride im just saying it was much harder in those days.

the only thing that is preventing any of you from getting where you want to be is a mental issue with not wanting to spend several years following a proper plan.

im gonna keep telling you the truth as i see it until FF kicks me out or i die.

lol

jim







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From what I've learned so far, it has to be FAR BIGGER than mine. I'm still reading my butt off and learning all I can but it's becoming pretty obvious that this won't put the butter & eggs on the table for me (near term).
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  #25759  
Old Apr 2, 2009 12:26am
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very nice mike.

i try very hard to be general and not a hard ass about most things that get brought up in this thread.

im gonna be hard ass about this.

if you happen to read mikes post and your not buying it you should close up shop right now.

close your trading accounts and put your money in something like a good mutual fund or something similar. even a savings account would be fine.

at least you have a chance at keeping your principle.

jim

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bundy is giving the cold hard facts. Most just don't want to hear it because it shatters the fantasy that is "forex riches" from your 10k account(well this thread isn't to feed BS, it is to prevent that). Can you build that account in the meantime and add to it, so that when you can trade profitably you make some money along the way. Of course this is exactly what I am doing, consistent profits, confidence, and building. But those that live in the US (at least where I am from) and need to double their accounts every year just to keep their head...
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Old Apr 2, 2009 2:00am
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it helped anyone that read it and took it seriously.

i could show you guys/gals emails that would curl your toes.

i have emails from people that took family fortunes and lost them in the first month of trading on 5 minute charts.

im talking fortunes folks not just 100 grand.

i have more than a couple of those emails that ended with serious talks of suicide if they couldnt find a way to get it back.

literally begging me to help them.

i lay awake at night sometimes thinking about them.



NICE POST GOV,

JIM








Quote:
Originally Posted by Gov View Post
My second post and my take on the account size situation.

I worked hard in my other business for 20 + years, sold the business, and probably have a big enough account to live trade and make a living.
BUT although I have experience with shares etc my Forex experience is next to zero.
SO the way I see it, I still need to maintain a job, part time or what ever, till i become very proficient/consistent with this venture (as per j16 main rules). Money is way too hard to come by to put it all up and have a punt on something that i know little about.
We...
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  #25770  
Old Apr 2, 2009 2:16am
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i think this is one of those trades thats going to give a set of choices.

a profit
a breakeven
a partial profit and breakeven
a loss.

if i had taken the initial break my stop would be at breakeven right now and i would be looking for 2500 to watch and see if it turns quickly.

if it did some comes off the table. if not and it closes under that level im looking for a bigger move.

its 2536 as i post this.

jim

Quote:
Originally Posted by jarroo View Post
Here's my thoughts on the Cad Daily PB.

Is it an A+ setup? No. Is it in the "A" category? I think so.

Would Mike take it? No way. Would Jim take it? Maybe, but probably not.

The barrier, I believe is the 1.2540ish Daily PPZ level noted by the green box. But I see that this barrier(1.2540ish) has lossed its respect (noted by the plum boxes) where Price smashed through it several times.

A hard break of this level will confirm the setup for me. Let's see what happens. I'm in at 1.2564.

Are there better setup just around the corner?...
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  #25868  
Old Apr 2, 2009 12:57pm
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this is the right way to go or at least something similar.

ok ok i know its not neccesarily the only way but its how you find eventual freedom imho.

jim

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Originally Posted by markmm View Post
I have moved to be with the U/C pin bar, now a free trade, I think although theres a lot of hurdles in the area, its useful to a least be in with a free trade incase it breaks down, if not, nothing lost.

On the account size issue, reading the advice of the experienced members I initially felt it was too conservative, I already had adjusted my expectations from making a living off scalping to building my account on the weekly/daily (4hourly after 6 months and 3months demo) to 50k then going full time.

However I think if you can build an account...
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  #25869  
Old Apr 2, 2009 1:04pm
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i knew when i posted that someone would respond.

there are more people out there that have been to the bottom than many of you know. im one of them so i know what the bottom looks like.

its not a pretty sight.

jim

Quote:
Originally Posted by mihaig78 View Post
Hi all,
This is my first post here. I have been reading this thread for a while.

First of all thanks to all the seniors (you know who you are) and of course jim. This thread is pure wisdom. I feel blessed to have found it.

I am posting because of this:

"it helped anyone that read it and took it seriously.

i could show you guys/gals emails that would curl your toes.

i have emails from people that took family fortunes and lost them in the first month of trading on 5 minute charts.

[b]im talking fortunes folks not just 100...
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  #25871  
Old Apr 2, 2009 1:07pm
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your a great asset to this thread tia.

jim

Quote:
Originally Posted by TiaForex View Post
I wanted to add something to the account size/potential return discussion.

Reward is always related to risk. There is a correlation between maximum potential drawdown and maximum return on investment. In a normal situation, as one increases so does the other. If you want 20% a month and you're currently getting 2%, well risking 10 times what you risk could get you there. The problem is it increases your max drawdown and your probability of reaching that drawdown by a lot. And there are all kinds of problems associated with getting out of...
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  #25873  
Old Apr 2, 2009 1:10pm
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yep you all listened to me and look at what i did to you.

geez,

jim



Quote:
Originally Posted by ghous View Post
Damn Jim!

Look what you did!

lololololololol...

Right, I'll just stay well asie and stop Bundying () around.

Regards,
Ghous.
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  #25875  
Old Apr 2, 2009 1:13pm
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Quote:
Originally Posted by PipGator View Post
The USD/CAD pinbar created a tug-of-war battle in my brain. When I got home from work last night I read this forum as usual and saw a couple of posts regarding the USD/CAD pinbar. I then looked at my chart and decided that it was a good opportunity after performing my rookie analysis. The pinbar had bounced off of a nice PPZ, had fib confluence, we recently had a BEOB on the weekly chart and there seemed to be a decent amount of space.

I logged into my trading account and placed an order to sell @ 1.2656 with first TP @ 1.2510 and second TP @...
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  #25878  
Old Apr 2, 2009 1:32pm
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how many of you are envious of jarroo and mad at my post that i would move my stop to BE?

This is a great lesson.

why?

because the next time i make a statement like that it might rocket off the other direction and i will be everyones hero instead of the goat.

LOL.

Im about not taking losses, what more can i say.

These happen to me all the time but on the bright side i rarely take more than tiny losses.

the other thing to remember?

they dont all come back and stop you at BE. sometimes you get these huge runners after you have moved ytour stop to BE.

When that happens the feeling is about as good as it gets.




Quote:
Originally Posted by jarroo View Post
I'm still in Cad on the 2nd half. My 1st half was 32 pips. I have mentioned in an earlier post that I will give a little more leeway to an "A" category trade on the 2nd half. The key being, it's on the 2nd half.

So I moved my stop loss on the 2nd half 22 pips above my entry. To many times Price will retrace and test the break and then continue on.

I've done the same with the Eur/Chf.
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  #25883  
Old Apr 2, 2009 1:53pm
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Alter give me a shout via email and let me work with you on a personal basis.

send me some charts on some recent trades in that email also.

jim

Quote:
Originally Posted by alter View Post
Nice PIN on CHFJPY weekly chart was stop out as well. I think it was A setup, taken from weekly PPZ, 38.2 fib ret., and a lot of space down to 82 area where was my first PT(I think its obvious from the chart). At least it takes much longer to blow out account on weekly chart then on H4 or H1.
alter
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  #25885  
Old Apr 2, 2009 1:59pm
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very well said ghous.

all of us must remember that the moment where things click does not come for everyone at a predefined time or level.

many of you already know that losing can really mess with your head.

we must not get angry with those that are trying but confused and a bit angry.

i think ghous did an admirable job.

hang in there alter and cointact me via email please.

jim

Quote:
Originally Posted by ghous View Post
uh..oh!

No and certainly not Alter, I wasn't being ironical atall...

Right so it was a loosing trade...

The setup was good, let's not use absolute words so as to refer to it as A+ but i'll say the setup was good.

The pin bar broke, so you're in...

it's on the weekly and you wait for it to give you some handy pips before you look to move your stop to BE.

THIS IS EXACTLY WHAT IT DID!

It went a good 150 pips in your favor,

It's to avoid trades like these that Jim recommends a move to BE as soon as you possibly can.

you may argue...
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  #25886  
Old Apr 2, 2009 2:00pm
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  #25891  
Old Apr 2, 2009 2:08pm
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fundies mean nothing. pivot zones are there to guide you and help manage trades. They are not meant to be used as a mechanical way of exiting trades.

example:

im in a trade with a pivot zone 150 pips away and im already up 75 pips.

would i in a million zillion years let that turn into a losing trade waiting for that pivoit to be hit?

no way.

this is where your struggling.

its not hard to get over that hump.

just keep working and send me emails with charts if you want or need to.



Quote:
Originally Posted by alter View Post
I didn't move my SL as there was no reason to do so. Next PPZ was another 100 pips farther and it was just first day of the week. It's also different if the trade goes in your way 70 pips on H4 chart or weekly where you have 350 pips SL, I can not treat it in the same way, can I?
I think the problem with weekly setups is that they are likely to be under influence of fundamentals. And this is exactly what happened with this trade. On Tuesday there were some positive news, DJI went up and JPY down.
Anyway I will stop trading when I'm 15% down , so...
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  #25902  
Old Apr 2, 2009 3:36pm
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im going to go out on a limb and take a guess at what they do.

most of them dont use a trailing stop in the traditional sense.

they trail stops and manage the trades based off of a very good understanding of side to side support and resistance.

that could be something as pronounced as a huge well developed pivot zone or as simple as a singe bar high/low or possibly two of them.

to new people that sounds complicated and very subjective but its not.

its the simplest thing you can imagine.

just a little time and practice is needed.

have you watched the guest videos?

jim



Quote:
Originally Posted by Grover View Post
While we're on the topic of 'moving to B/E', I had a quick question...I've been trading with a 45 pip trailing stop with a target typically around 200 pips away. Obviously after 45 pips, I move to B/E, but then I typically get stopped out no where near 200 because of a retrace in between a 200 pip jump.

I'm amazed at you guys that can pound out 500-1000 pip trades - what do you do with your trailing stop? Do you just put it really far away (<100 pips) and let it just continually go until you hit your target or do you move your stop up after every...
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  #25908  
Old Apr 2, 2009 4:39pm
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LOL. well i know for a fact a lot of people did what i said and missed on a couple of hundred pips. i had to say something.

i could just see the faces and hear the voices..

"damn!!! i knew i should have left that stop alone."

This is why i dont comment on live trades. people are always better off learning from how they react personally.

it was a good lesson for me.

i was very proud and impressed at how you handled it jarroo.

it showed me that your comfortable in your own skin and with your own way of doing things.

that always tells me that someone has spent a lot of time practicing and learning.

jim

Quote:
Originally Posted by jarroo View Post
mad at your post . . . goat . . . LOLOL. I don't think anyone here felt that way, at all. (too funny)

I have more break even trades then losses, this is due to me not being picky enough on many of my setups. I view them as "real good" , but they're not the "BEST", A+ trades that we all seek to enjoy. (see any James16 chart).

It is these A+ setup that once you move to break even, they run to the moon. But a lot of times, you get stopped out then they run to the moon. Like KissFan earlier Gbp/Usd trade.

I tend manage my trade the best...
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  #25909  
Old Apr 2, 2009 4:43pm
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IM GLAD TO SEE THIS MAKRON.

this is exactly what we are talking about.

the weekly pin makron is talking about went 100 pips into profit.

under any circumstances was this a failed pin bar or trade?


what happened to you with this pin bar makron?

jim

Quote:
Originally Posted by makron View Post
Hi to all!!! Very like yor thread and reading it since 2006 year! Very big thanx to Jim and others for expierence!
What do you say about AUDUSD weekly pin? Why does it failed??? Unfortunatly i can't add picture
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  #25915  
Old Apr 2, 2009 5:05pm
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MAKRON THANK YOU FOR POSTING THIS.

these allow me to help people and make points that are very hard to make at times.

a lot of people talk about the ahhh haa moments.

those are hard to put into words or even charts for that matter.

there is one in this chart but people have to live it also/



Quote:
Originally Posted by makron View Post
Hi to all!!! Very like yor thread and reading it since 2006 year! Very big thanx to Jim and others for expierence!
What do you say about AUDUSD weekly pin? Why does it failed??? Unfortunatly i can't add picture
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  #25924  
Old Apr 2, 2009 5:46pm
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too small because 100 pips represents not enough money based on your lot size?

if your account size meant that those 100 pips had been worth 10 thousand dollars would it have been enough?

if it had been a ten grand profit would it have changed the way you handled this trade?

jim

Quote:
Originally Posted by makron View Post
Ooops) I think that 100pips is too small fo weekly trade. And when price went against me, i opened second sell position on 50% retracement to pinbar. But had 2 loses... No problem for my money, i have a micro account. But problem for me... i miss again.
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  #25929  
Old Apr 2, 2009 6:15pm
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Default be back tonight

off to softball.

another season starts tonight.

i pitch and bat 4.

im the oldest guy on the team and i can still hang with the pups. ( notice i didnt say i could run with them)

its one of the great joys of my life to out hit 20 year olds.

when your almost 49 and you can say that you will want to brag also.

years are running out on me so im not holding anything back at this point.

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  #25934  
Old Apr 2, 2009 6:29pm
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naw im too good to be on a team called the yankees.



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softball team named the Yankees?
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  #25958  
Old Apr 2, 2009 10:09pm
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never thought of it like that. lol

Quote:
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49? That's still pretty young Jim but if you don't think so just remember, Once you're over the hill...you pick up speed!!
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  #25960  
Old Apr 2, 2009 10:35pm
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thats a great story man.

jim

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LOL...my dad told me that.

I was 24, he was 62. He was on first and I was third baseman. Batter chipped a shot at me that I had to come just a little forward for and I spun to throw him out at second. HE BEAT MY THROW!! LOL

I yelled over, "HEY, OLD MAN, how the hell did you get there so fast"? He yelled back, I may be over the hill son but now I'm picking up speed....LOL

I never forgot that and try to live each day that way.
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  #26055  
Old Apr 3, 2009 2:54pm
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welcome heidi,

post a chart with some notations..

makes it easier to understand what your seeing and for others to reply.

jim

Quote:
Originally Posted by flotodona View Post
Hello all:

So glad to have found this forum .

EUR/AUD seems to have bounced off major s/r level @ 1.86 ppz, is now @ 1.88. Daily seems to be forming a pin. Next hurdles would be 1.8883, and 38% retracement @ 1.8966. Looking for opinions on whether this pair would be good to go long, considering PA is also forming a descending triangle, but could be a long way off of breaking to the downside. I'd see entry somewhere above the mentioned hurdles...

TIA for your guidance!

Heidi
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  #26056  
Old Apr 3, 2009 2:56pm
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AND WE ALL SAID....



AMEN.



POST ONE HERE I COME.

JIM

Quote:
Originally Posted by Life of Pi_p View Post
For anyone new here, please follow Jim's advice. He's not spewing a bunch of garbage about demoing for AT LEAST 3 months. I've followed this thread for years and have watched Jim, Bundy, Habeeb, Mike, Raczekfx, Seeking, Clockwork, Wizard, Ghous, Jaroo and others trade price action successfully, but they all do it differently. People see things differently. People think differently. People's stomachs react differently to stress. The demoing is not just about learning the price action and pivot zones and money management. Its learning how you handle...
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  #26058  
Old Apr 3, 2009 3:01pm
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GREAT POST.

Quote:
Originally Posted by albchr View Post
I look at this much like my old profession. For 35 years I've built high end custom homes. From the hole in the ground to the finest interior details it's always the same. You start at the bottom and work your way to the roof. Skipping any one step along the way simply insures structural failure at some point in the end.

No matter what situations arise and believe me, the variables and pitfalls involved in construction is a VERY long list, you must learn, adapt and cope with each before proceeding to the next step. At the very least this requires...
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  #26063  
Old Apr 3, 2009 3:16pm
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i have a friend from michigan.

he left about 3 years ago and still gets homesick.

he says he left because of the tax rates and how they were killing business in the state. ( texas has no state income tax and one reasonwhy he came here ).

then i heard on the radio yesteday that its getting pretty bad there. young professional people leaving in droves due to the same thing.

i will never understand that thought process.

lower taxes ALWAYS increase revenues.

they raise taxes and run off good income earners and then they dont have as many tax payers so they raise them even more.

they were talking about how new york is going down the same road.

i dont get it.

If a politician even uttered the phrase " state income tax" in texas he/she would have zero chance of ever getting elected again.

texas is business and personal income friendly and why we almost always have a ton of cash in the state coffers.

people trip over themselves trying to get here.

why do other states not see this and do the same thing?

like i said i dont get it.

Quote:
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Yes, but in Michigan we call it water skiing. lol
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  #26066  
Old Apr 3, 2009 3:26pm
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AS GOD IS MY WITNESS WILL SOMEONE PLEASE EXPLAIN TO ME WHY PEOPLE VOTE LIKE THIS.

can you tell me dutch because im not from an area like that.

how do these people get elected?

jim

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Originally Posted by DutchTrader View Post
They're raising everything in NYC. The transit costs, cab fares, etc. it's getting ridiculous. I'm moving after I finish school in Dec. Hell I'd rather move back to California, least I'll be getting screwed by the government while the weather's nice.
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  #26076  
Old Apr 3, 2009 4:23pm
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I KNOW THIS IS HARD FOR YOU TO BELIEVE RIGHT NOW BUT ITS A GREAT DAY.

EVERYTHING IN THIS POST IS STRAIGHT OUT OF MY LIFE AT ONE TIME.

YOU HAVE WON HALF THE BATTLE BY JUST FULLY UNDERSTANDING WHAT YOU HAVE DONE AND WHERE YOU ARE AT.

YOUR VERY OWN WORDS PROVE YOU ARE IN TOTAL CONTROL OF WHETHER OR NOT THIS PROVES TO BE DOABLE FOR YOU.

THE VAST MAJORITY OF PEOPLE NEVER EVEN SNIFF THIS LEVEL.

JIM



Quote:
Originally Posted by pakiestra View Post
Hi all,
That wasn't the best week for me, enough to say I've screw up BIG WAY (I know it's strong wording). BUt it's true, first I didn't take profits on eur/jpy of the table, I was hypnotised watching hundred pips turning into loser I'm sick when I think about it, then I have made worse, I overtraded in revenge loosing almost three weeks gains on the account and now profit/loss is as it was after first profitable setup.
This is demo but I feel like I've lost a real monies. Is so hard to win that battle with your ego, it pricks you...
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  #26077  
Old Apr 3, 2009 4:30pm
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THIS IS WHAT BLOWS MY MIND.

The total opposite is true and its as easy to see as a blue sky on a clear day.

i still dont get it.

to believe that people follow that train of thought is to believe that most people are stupid as a freakin rock.

i just cant wrap my brain around it.









Quote:
Originally Posted by jarroo View Post
There's just a lot of Yellow Dog liberal Democrats in this UAW state. Yellow Dog Democrat is a person that will always vote for a Democrat even if its a yellow dog. Much like Blue Dog Republican.

They think that Converatives (Rep.) are for the rich and Liberals (Dem.) are for the common man. I think they are starting to understand that its the other way around.

I agree. Econ 101, less taxes increases revenue.
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  #26097  
Old Apr 3, 2009 6:07pm
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post one gets another good one.

jim




Quote:
Originally Posted by raczekfx View Post
Ok. Why invent the wheel when there is a solution.

I was in the same boat few years back and no matter what I tried, it didn't work as expected. Too many losses on profitable setups, etc. It was sickening...
And then one day it hit me when I was watching James's video where he moved to BE on weekly setups once (i think) 30ps in profit.
Once I realized why he does that, it has changed my trading by 10 folds.

The issue was that having a small account I didn't care much about moving to BE to quick and I was getting stopped out for -50, -100ps...
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  #26098  
Old Apr 3, 2009 6:19pm
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here is what i want you to do.

for the next 3 months you are going to take no more than 5 trades a month.

i would prefer 3.

it would be nice to trade a large demo account so the "money means something to you".

they may all happen in week one, week four or spread out but we are not taking B trades.

your going to only take the best possible set ups and when you take them you are going to take half profit and move your stop to breakeven at the first support or resistance area.

if you arent sure where they are just ask.

lets see what those 3 months do for you.

dont do this for me do it for yourself

jim

Quote:
Originally Posted by pakiestra View Post
Jim, thank you very much for your kind words. I've spent almost 5 months just watching this thread before I'v started to post.What attracted me here the most were two things:
1.no wonderful receipe (and no strict spoon feed) to become rich in a few months and throw your resignation on your idiot boss desk trading for live in Forex market
2.a HUUGE degree of support from senior members and lack of downtalking on newbies.
That rarely happens these days.
Anyway I'm going through the thread contents again, I'm back testing entry and exit strategies,...
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  #26101  
Old Apr 3, 2009 6:36pm
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COULD I GET A LESSON PLEASE.




Quote:
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% gain is relative to your trades selection and discipline. I don't pressure myself to do 1 or 5% every month. Whatever comes, I'll welcome it. I don't necessary agree with some comments I've read in the past, what's good and what's not, but everyone is entitled to have an opinion. What's more important to me is: was I following my plan (you must to have a plan). anyways It's getting late and I got a run. Just keep doing what you doing with some extra emphasis on stops and profit targets and you'll do all right over the years. Just treat your demo...
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  #26102  
Old Apr 3, 2009 6:41pm
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just go to the guest side of the site.

its under guest material.

i have never personally typed that url at forex factory and i never will but you can use my signature to get there. (at least i dont remember ever doing that)

they would let me but its about keeping things right.


jim

Quote:
Originally Posted by aserbfx View Post
dear james16

raczekfx was writing about some videos you made. where can i find them?

thanks in advance

p.s. great thread. so much information here ... never stop learning. thanks !
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  #26110  
Old Apr 3, 2009 8:29pm
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yeah you know me i luv the basics.

your a great help here rac and i appreciate you man.

jim

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Without a good CCBJ's lov'n texan, I won't be able to start.
Next time, I visit relatives in Austin, I'll bring a case and we go over few basic setups..
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  #26267  
Old Apr 6, 2009 1:21pm
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geez dont tempt me. lol

jim

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Originally Posted by marcelnyo View Post
Hi Jim,

Try moving to Indonesia and you'll save that 6 figures a year you should've paid to the IRS. I think you'll love our tax policy not to mention how you can pay a lawyer to cut it even lower
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  #26269  
Old Apr 6, 2009 1:26pm
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man i enjoyed this. post one stuff because i think it make new people "think"

jim

Quote:
Originally Posted by Jduester View Post
Ok, as some of you know I have been testing various exit strategies. I've attached the results. I ended up testing 13 unique strategies. I know this post is going to be longer than I wanted it, but I think everything I write here is necessary to fully explain my rationale. Sorry to bore you if that is the case.

A few notes:
- I have placed 31 trades in Feb/March, so that was my sample size...quite small, but I felt enough to point me in the right direction.
- 26/31 trades reached the first PPZ, 83.9%.
- In many cases, the first PPZ was very...
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  #26275  
Old Apr 6, 2009 2:15pm
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Default i know some of you frown on this

please allow me this. i know some hate it when i do this but i mean no harm.

this is not my thread this is our thread and i try to keep that in mind.

i just sat with tears streaming down my nearly 50 year old face while the texas rangers had opening day ceremonies.

3 men walked from the dugout to the mound with a huge flag in the oufield.

a navy seal from just down the road that was the only one out of 16 to make it back alive from his unit.

a former president that now lives less than 30 miles from me that is a human being just like the rest of us and did what he felt was best.

nolan ryan who is as big as the alamo in this state and thats sayin something.

Josh Hamilton with tears streaming down his cheeks did me in.

a standing ovation for all 3. not a boo in the crowd.

im a patriot and im a texan and i would gladly give my life defending either one.

thanks for allowing me,

jim
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  #26279  
Old Apr 6, 2009 2:35pm
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your just flat out a damn cool guy dutch.

i dont know how else to put it.

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Greatest country in the world that has allowed me from the age I was 14 to pursue every dream imaginable. I get teary eyed when I listen to Ray Charles singin' "America the Beautiful". I served this country once, and would do so again in a heartbeat.
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  #26280  
Old Apr 6, 2009 2:41pm
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i get some crazy stuff alb,

trust me i will get a few this time also.

your my kinda guy.



Quote:
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I can't imagine why anyone would frown on this. This is what we should all jump up and cheer about. I'd question the integrity of anyone who didn't.

God bless us all. God Bless America.
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  #26452  
Old Apr 7, 2009 5:13pm
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Default JUST A Reminder

ok just a reminder.

its been several weeks since i rained on everyones parade.

1. if your new to any trading style/method and your trading intraday your asking for a disaster.

2. if your new to any trading style/method and your trading with real money before first proving your competence on demo your asking for a disaster.

3. even if your good at your trading style/method and you have been thru all the proper steps and your taking less than optimal set ups your asking for disaster.

4. for the vast majority of you if your taking 40 to 50 trades a month your asking for a disaster.

ok see you again with a copy/paste of this message again in about two weeks.


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  #26454  
Old Apr 7, 2009 5:29pm
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glad it helped,

now you need to stick around and help others get to your level.

jim

Quote:
Originally Posted by 4fun View Post
I started live trading last July and kept my head above water but just couldnt attain any consistency. I stopped for two weeks the end of Nov to analyze what my problem was, and as luck would have it stumbled onto this awesome thread.I wanted to keep this game fun and profitable at the same time so this is what I did.I cut my account size in half and re-did my charts this time only plotting major mn & wk ppz nothing else.My previous charts kept gathering more clutter and all that did was clutter my brain.I cant see through a dirty windshield nor...
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  #26455  
Old Apr 7, 2009 5:31pm
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this is how you do it kids.

jim

Quote:
Originally Posted by ghous View Post
Trade update:

1st half: 50 pips.
2nd half: BE.

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  #26466  
Old Apr 7, 2009 6:24pm
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Quote:
Originally Posted by Jduester View Post
One more thing Jim usually includes:

TREAT YOUR TRADING AS A BUSINESS. PLAN YOUR TRADE AND TRADE YOUR PLAN.

There are dozens of posts in this thread that deal specifically with the benefits of treating this as a business with a business plan. Develop a trading plan and follow it. How otherwise can you measure your results, see what can or needs to be improved, and grow as a trader?

It wasn't until recently that I've taken these capitalized words seriously. I always thought I was trading seriously. But until I studied this thread and actually...
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  #26468  
Old Apr 7, 2009 6:27pm
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thats good.

we have another great saying around here.

"Now i want the market to grab my groin - not just flirt with me."





Quote:
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Haha! Now I want the market to commit to me-not just flirt with me..
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  #26480  
Old Apr 7, 2009 9:35pm
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Quote:
Originally Posted by Fx_Genius View Post
Last time that happened to me the market told me to turn my head and cough!
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  #26750  
Old Apr 9, 2009 4:33pm
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ive seen some very good break downs of this.

here is mine.

Quote:
Originally Posted by squeezy View Post
cld u please explain y this pin on eurusd failed, im curious......lol
i thought it was a well shaped pin to trade, guess i was wrong....
i kno theres more to it, in terms of location and all
wouldnt mind if u guys cld shed some light on this
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  #26753  
Old Apr 9, 2009 4:49pm
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WELCOME DZ,

very simple what we do here. just get involved and btw your english is fine.

jim

Quote:
Originally Posted by dzero View Post
Hi there,

Thank you for such a a nice thread really helpful. In last month i have read only this thread and skip to all others as i have find here so much new info. I need to reed a lot of pages from beginning so hope to fined more answers on my questions. But, my be, some of you have saved exact link to price action. i have read all around everything, so many are talking about price action and so on, but i cant figure out how to read this price action. If some of you could help with that i wold be very appreciate.
Thank you once more, just for...
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  #26755  
Old Apr 9, 2009 4:55pm
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Default POWERS?????

Yes FF gave me back my "powers" some time ago but i rarely if ever use them.

Thats the first time in years.

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  #26759  
Old Apr 9, 2009 5:12pm
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yeah but what all of should pay attention to in j's post is the part about only taking a 30 pip loss.

i still take losses of course and often im totally shocked at what price "has not done."

in those cases i never let the loss get out of hand.

30 pips in this situation is a sign of trading maturity in every sense.

jim

Quote:
Originally Posted by jarroo View Post
Took a -30 pip loss on this one, because I got away from my trading plan.

I didn't do #1., #2., #3. and definetly not #4.

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay...
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  #26760  
Old Apr 9, 2009 5:14pm
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you da man supreme.



Quote:
Originally Posted by supremeChaos View Post
did not notice u were around, Sir! fast proactive action on your part!

those kinds of posts really get me hot-headed, i had to log in & respond
it's almost 5am here , good thing i was still up to delete mine ASAP...

It's all back to normal now.....




squeezy,
just keep on doing it!!
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  #26766  
Old Apr 9, 2009 5:57pm
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this was great. I STAND CORRECTED.

without a doubt you are correct.

my idea behind taking it was to hopefully catch a frieght train just leaving the station. sometimes that happens when a strong area of s/r is breached.

of course you cant take it before its breached. if you do that you find out the train was actually destined for the other direction.

jim





Quote:
Originally Posted by markmm View Post
Sorry Jim, I disagree, eveything you teach told me to stay out of this trade (PA pointing into a brick wall). I prefer to have not traded this than have a 30 pip loss.

Mark mm
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  #26901  
Old Apr 13, 2009 4:58pm
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YM is easier to trade than the ES imho.

you also get the added benefit of better position sizing with the ym.

jim



Quote:
Originally Posted by trader john View Post
one thing I like about this method is that it can be used to trade futures, which earlier in this thread James used many futures charts as examples.
I hope to start tradeing the ES when I get everything together, this will also help any "day tradeing" urges I have.

I don't mind taking 2 trades a month in forex, that are A+ trades, seems like a good forex plan to me.

I study everything I can, and look at other successful traders methods, and with forex, I don't know how people can be successful in the long run day tradeing forex, I know most...
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