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  #7954  
Old Dec 3, 2007 2:31am
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some treat it like a business and some treat it like its vegas. nice stuff ademac. not many like you i promise. after the new site is open i really will have time to be a dad again to this thread and im looking forward to it. whether those that follow this thread ever join us or not the new site will have a free guest chatroom to supplement this thread. not a wide open chatroom but a restricted small place for those of you that enjoy following and learning the material here.

jim

Quote:
Originally Posted by ademac View Post
I am doing as J16 has always said. You can be quite profitable just trading daily Pin Bars.

A bit of background. I had never traded before until I found Forex, 2 years ago. To me XXXX was a beer. I have tried to follow J16’s advice on how to be a good trader.

I spent 18 months on demo, doing like most others system hoping, but at the same time learning about how I like and dislike to trade. It wasn’t until I came across J16 post about trading just daily PB’s that and that alone could make you wealthy. I stopped trading all kinds of PA and just worked on PB’s until I finally proved I could trade PB’s successfully for three months in a row and archive 5% return. Now I am trading the same live as I did on demo, with a small amount of capital but every month that I archive my 5% I add more capital.

This month I added another zero by trading to the end of my account. So it was suggested that I write something to give hope to all those that are still struggling and let them know that it is possible.

The biggest thing I would suggest for anyone trying to master PA is to just pick one type of PA and trade that solely until profitable in demo then go live, with a small amount and build up as you grow more confident in your trading.

Another is money management. I am only risking 1% on any single trade. I don’t even think about that anymore it has become such a habit now that I don’t even think about it I just do it.

Also don’t forget to have a Trading Plan I cannot stress enough how important this is. It should cover every possible scenario like when to get in and how to get out but also a lot of areas that get missed that relate to how you will measure your success, how you will reward yourself for archiving success. A lot of my trading plan contains goals from daily to weekly to monthly even have yearly goals and rewards for there achievement. Check out Isotonic’s thread on it. http://www.forexfactory.com/showthread.php?t=4073
And if you don’t have a trading plan ask yourself why are you to cool for a trading plan ????

I would also like to thank Mike (mbqb11) as his input on exits was a great help in getting it over the line.

I still have a long way to go but I am that much closer now to reaching my goals and that it doesn’t seem so far away or impossible to archive.

Enjoy
Ademac
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  #7985  
Old Dec 4, 2007 1:48am
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thank you forex.

jim

Quote:
Originally Posted by forexnovice View Post
Hi Jim

The information posted in this thread is worth its weight in Gold, particularly the Pinbars. Have saved all the charts & look forward to joining your Site soon enough. Thanks for making Forex Trading Profitable
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  #7987  
Old Dec 4, 2007 2:38am
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thanks raz,

man you live in a neat place. always wanted to visit there. always makes me think of bob seger and the silver bullet band.

you have the coolest username on the forum imho.

jim

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Originally Posted by razldazl View Post
You wont be making many friends around here talking like that, we all adore Jim, and more than a few of us owe any success to him ...Jim, thanks again for all of your help, Im a lifetime away from where I was this time last year
PS Way to go Ademac!
Take care all, Raz
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  #7989  
Old Dec 4, 2007 2:47am
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thank you pip,

all of you remember that im only an email away for any questions regarding what we do. i actually prefer it be done that way rather than here. we really have tried very hard to show some integrity in this thread when it comes to the group.

thanks to all of you that enjoy and spend time here.

jim



Quote:
Originally Posted by piphitman View Post
Jim,

I too will be joining the PF shortly, it took me over a month to read this thread and I saved many of your initial images/charts with the price action descriptions and go back and re-study them all the time.

I can only speak for myself but......It's people like James16, Jacko, feb2865, and more recently fti, who have freely shared their wealth of knowledge and experience of the markets to this forum that makes ForexFactory the best place to go IMO to get an MBA in forex training for free.

Once again thank you to all the contributors to this site.
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  #8118  
Old Dec 7, 2007 2:17pm
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LOLOL.

Quote:
Originally Posted by mamutot View Post
"stay"??? what do you mean? i thought wiz is insane in the short and in the long run...
after all he got hit by a lightning..
well - maybe that affects only in the short run..
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  #8155  
Old Dec 10, 2007 3:35pm
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no pin bar within earshot here shiva. you want them to be at extreme lows and highs or at least until you get good at them and they should preferrably have a very long nose. everyone should buy martin prings book/s. i dont use some of his info as he does such as the pin but i always give credit to him even when i am remotely discussing something he coined. thats the problem with this business. if you guys had any idea how many of the ebooks you buy are from scumbags that pirate material you would never buy one again unless you knew who it was and they had a track record of decent behavior. thats whats wrong with our world. most people are "asleep" to reality and allow the ego to run and ruin there lives. i love you guys/gals.

jim



Quote:
Originally Posted by shiva View Post
James, Ir ealise I am a little late in the day - answerign a post of several months old vintage, BUT, if we look at the formation just before the blue oval marked on this chart; doesnt it form a classic pinochio with a BUY signal?
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  #8225  
Old Dec 13, 2007 9:52pm
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Default something cool for you cool people

we will be opening our guest chatroom within the next week so that those of you that follow this thread can interact from time to time. this has no charge and has merlins approval. when it opens i will try to stop in at least every other day and time permitting ever day. we will also be doing scheduled free guest q/a sessions soon.

jim

www.james16group.com
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  #8329  
Old Dec 18, 2007 9:24pm
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ahhhh the clean fresh air of common sense and responsibility. throw in a year of dilegent study and demo before you actually start live and you have a recipe for slow success. anyone can do it slowly with a solid business plan and common sense but alas this business sucks the common sense out of just about everyone. hogs, pork bellies and a few others sure sucked it out of me in the mid 80's. lol.

jim

Quote:
Originally Posted by mamutot View Post
starting with 2000$ account (as i did..)

and risking max 0.5% per trade, taking about 5 trades a month that can provide you 3% a month, can lead you to:

2851$ after one year

not much but at least you are sure that you are consistent, which "allows" you to move one and risk now 1% per trade.

taking same 5 trades a month - that should provide you 6% (simple math..)

that means in $ terms:

5736$ at the end of 2nd year.

now we can make 2 changes that should provide the same:

either taking more trades and managing better, or taking up the risk to 1.5%, anyway we want our profit to grow to 9% a month:

after two more years that will be:

45377$

now - tell me , whoever you may be, that you couldn't go on with your life by making 5 trades a month, risking no more than 1.5% of your account, and making 9% each month to the bank account (thats ~4000$ a month!)

cant you wait to make only good trades during the next 4 years? you are risking too much to see quick profit? do you build your confidence????

i hope that you do realise that in 7 years from now, doing this, can lead you to be financially free person?


good luck,
i do it slowly..

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  #9035  
Old Feb 7, 2008 10:48am
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i know one of the others would jump in eventually cos but since i worry about people confusing these please allow me. when you see someone say pivot zone they are not necessarily referring to classic pivot points or floor trader pivots. its a term i use for flips in support and resistance over time. sometimes they do line up with a floor trader pivot. ( im old school so thats what i call them), but price pivot zones are my term for this phenomenon. i will post a couple of charts. been a while since ive done that here .

jim




Quote:
Originally Posted by cosgrove View Post
I understand that you guys are using pivots for S/R, but are they weekly or monthly pivots on those daily charts?
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  #9037  
Old Feb 7, 2008 10:56am
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Default pivot zones

pivot zones. they are not a defined single pip values but have a range of width based on time frame. many times they are almost to the pip and easy to see and sometimes not.
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  #9038  
Old Feb 7, 2008 11:07am
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pivot zones and price action for confirmation. dump your freakin indicators and moving average cross systems they kill 99 percent of all traders. trending markets make any system work but all markets spend most of there time in consolidation and consolidation is the system killer. after some practice this material makes trading consolidation areas easy. simplicity, focus, discipline, practice,common sense and a true business like approach and you might make it. might.
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  #9040  
Old Feb 7, 2008 11:16am
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Default pivot zones and price action

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  #9041  
Old Feb 7, 2008 11:24am
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  #9042  
Old Feb 7, 2008 11:27am
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Default been a while

damn that felt kinda good. i love my baby. she has been here from near the beginning when you never saw more than 30 people on this forum at one time. now its thousands and thousands. you done good merlin.

jim
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  #9043  
Old Feb 7, 2008 11:29am
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thanks par,

jim

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:P yes..it's been a while.Please..anything from u usually taste good Jim.
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  #9676  
Old Mar 24, 2008 3:50pm
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its amazing how "THINGS START TO WORK" when you look at them again on a longer time frame. trading inside bars are old hat and have been for longer than most of you reading this have been alive. i wonder how many other simple approaches that seem too basic for todays trader might also be a key to success if applied to longer time frames?
there are a million ways to trade and the best ones dont make your charts look like a 5 year old with a box of crayons. lol.

good post wern.

has anyone else had there entire house wiped out with the flu this year or am i riding this alone?




Quote:
Originally Posted by wernbrenk View Post
Hi guys,

Like you all know I'm still working through the thread, but while doing that and analysing my charts I have come accross something which I would like you all to verify if you could.

This is a setup taught by Mr Tom DeMark, which I never thought worked until I started testing it on the Daily TF's.

Please have a look and discuss.

Regards

Werner
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  #9677  
Old Mar 24, 2008 3:54pm
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Default where is my wizard buddy

someone track down merlin and tell him i want a hello in my thread.

:wave:
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  #9679  
Old Mar 24, 2008 4:02pm
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hey summit whass up. i feel for ya. i had forgotten how much the flu really sucks. hope i get to forget it again and soon.

Quote:
Originally Posted by summitfx View Post
Entering week 3 with the flu- will it ever go away?

has anyone else had there entire house wiped out with the flu this year or am i riding this alone?
[/quote]
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  #9681  
Old Mar 24, 2008 5:46pm
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ahh the great swami.

im printing. at the least it will be a colorful trip to the bathroom. lol.

jim

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Originally Posted by Swami S View Post
Fresh jiuce everyday if you can. The whole family in one hit.
Carrot apple base then go veg, greens, beets whatever you like or go full friut
ginger for those who will.


Colloidal silver for bacterial infections, digestive esp, also great for tooth abcesses and the like.

Bitter herbs if a cold or flu wont shift. boneset/yarrow
Elderflower if its light.

All the best
SS
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  #9717  
Old Mar 29, 2008 1:13am
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  #9846  
Old Apr 4, 2008 1:34am
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no worries but you will probably get more help by just posting in this thread.
traders helping traders is why this thread has been solid for far longer than any other at forex factory. it may not have the most views but it has stood the test of time when all the other flash in the pan system threads have burned bright and then faded. im damn proud of this threads longevity and i damn proud to be a friend to all that have made it what it is.

jim

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Originally Posted by krue View Post
Probably I need to ask administrator to help delete below quoted post, just in case being suspected running ........ something, no, there is no any single commercial intent, anyhow, I decided to delete it, problem is I don't know how to delete it, if anyone could advise? I can learn trading one way or another any how. I am reading through the entire thread, it's interesting to see people thinking together, and the more I learn, the more I discover so many people around here are so skilled, this gives me confidence I can do good as well, though a long way to catch. will be sit quietly and watch ya talking. keep up the good job
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  #9887  
Old Apr 8, 2008 10:13am
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Default GBP/USD PIN

CHART
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  #9888  
Old Apr 8, 2008 10:39am
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Default How Long O Weary Soul

how many of you still have you charts covered with indicator garbage?

indicators were developed to impress girl friends and wives.

they dont work except for indentifying divergence.

25 plus years of experience is telling you to give them up.

they have never worked and never will because they cant withstand all market conditions.

We smile when we see a sideways market while they cry and run off looking for another indicator or system.

price and support and resistance are the keys to success along with patience and practice/demo.

always have been and always will be.

Jim
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  #9900  
Old Apr 8, 2008 3:01pm
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all of you guys starting out whether here or in the group should just concentrate on outside bars and pin bars on daily/weekly charts at extreme lows and highs or at solid areas of support and resistance.

3 months of demo will teach you that.....

it makes no sense to shotgun your trades. be patient as you will get your share. when you have built a demo account and your confidence grows with it things will begin to dawn on you.

things like....

i can do this if i work hard and use common sense.

if you approach it like most do you will blow your account and your confidence which will be a shame since you really have found something here thats easy and able to carry you to some success.

jim
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  #9903  
Old Apr 8, 2008 3:05pm
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thanks j,

j has been a friend a long time. late 2005 to be exact.

jim

Quote:
Originally Posted by jarroo View Post
Once people live and learn this simple yet powerful statements, and concentrate on practising Price Action with S/R Levels, the better off they will be. (but you guys know this already on this thread.)

It has changed my accounts form negative to postive.

Jim, you are, and will always be, THE MAN.


Jim
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  #10602  
Old May 7, 2008 1:32pm
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LOL. i saw your post right after i sent out the email.

mike would be the first to agree with this statement....

"this material is to damn easy to require some kind of special person or talent."

mike and clockwork and many many others are "good" at this for one "special reason"....

they dont jack around with less than optimal set ups. why would they when the cherry picked (best) ones almost always make money?

how much easier can it get than a chart with "nothing" on it but price?

jim





Quote:
Originally Posted by mbqb11 View Post
LOL I literally just got an email from james(group email), about the eur/usd 4hr pin I just posted. Even the big guy loved it. To quote him (hope you don't mind jim ) "I get asked a lot from new people what is an A set up? I always tell them the same thing as those that have been doing this for awhile. After a little practice and demo they literally jump out at you."

It is the truth! if you don't want to listen to me listen to the big guy himself.
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  #10605  
Old May 7, 2008 1:52pm
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candles are fine im just old school. candles are something you light when the lights go off to me. every bar i teach has a candle description and a lot of people stay with them. emails from me go in spurts. you might not see one for a week and you might get two a day for several days. depends on whats going on.

jim

Quote:
Originally Posted by ShadyChars View Post
I've considered joining the james group even tho I don't know a pinhead from a pinbar.

I do know a doji from a shooting star. How often do these email come out. They must surely be winners!
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  #10615  
Old May 7, 2008 3:51pm
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outside bars should be considered only at extreme highs and lows and at MAJOR areas of s/r. i will post a chart. ive got another one to post first though.

jim

Quote:
Originally Posted by woolley View Post
hi Mike from my charts the daily bar looks like it might close a BEOVB.
so indicating more down movement.
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  #10618  
Old May 7, 2008 4:03pm
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  #10619  
Old May 7, 2008 4:14pm
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example
Quote:
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outside bars should be considered only at extreme highs and lows and at MAJOR areas of s/r. i will post a chart. ive got another one to post first though.

jim
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  #10624  
Old May 7, 2008 4:25pm
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great question and it shows that j is ahead of most people. divergence will kill you in a trending market and many many traders in the futures markets have learned that the hard way by using it blindly. divergence is a great tool however when combined with price action analysis.

it simply gives confluence or gives wieght to a good bar set up.

jim

Quote:
Originally Posted by jarroo View Post
Hi Jim.

It's always great when a James16 chart is posted.

But this one has me confused. Isn't divergence a dangerous indication, especailly in a strong trending market? What make this divergence different?

I hope you got to see some of my eariler posts. I hope I'm explaining Price Action with the respect that it deserves.

Thanks,

Jim
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  #10631  
Old May 7, 2008 5:12pm
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thanks ryan,

yeah its easy but most new traders cant get out of there own way even if they are given a high odds entry. folks like you that have been trading for a while understand the value of finding something that works and then adding to it if they wish to refine and make it better. as you know its a process of self discovery and hard work.

Quote:
Originally Posted by Ryanmcd View Post
Jim, just wanted to say thanks for the pinbar stuff, last month I made a little over 800 per contract playing the 4hr stuff. Pretty easy stuff really, but like anything people need to put in the time. I have traded about 9 years full-time and I spent a little over 100 hours just reading over charts but I think if you put in the time, use 1 or at most 2 indicators that you know well you should be 85%. Also I talked with Martin Pring about the "PinBar" stuff, he's a pretty nice guy
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  #10757  
Old May 14, 2008 9:18am
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playing these bars before they actually qualify by a break is ok a lot of times but certainly more risky. a pin bar is not confirmed until it breaks and i rarely play them until they do. the only time i will take an unconfirmed entry is if i see it in a prime location that i feel warrants an early entry.
so to recap. a "pin bar" that never broke did not fail because it was never a "pin bar" in the first place. the lower the time frame the more this happens but once again if you only play breaks you will at the least know its a confirmed bar.

jim

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Originally Posted by pbb2577 View Post
Any thoughts on why this pin bar set up didn't work?
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  #10830  
Old May 16, 2008 6:48pm
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Default GBP PIN BAR

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  #10857  
Old May 19, 2008 11:22am
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i got your pm e, thanks.

as far as im concerned e ( many disagree with me and thats fine) this is getting started in this business the smart way. with all the currency pairs, currency futures, futures in general and a good selection of stocks its not just possible its probable that someone who learns pa and simple s/r and applies it to long term charts is going to be able to consistently grow an account.

jim

Quote:
Originally Posted by eventually View Post
Hello everyone,

This is my first post, though I have read much of this thread with high interest.
I am trading high time frames, at least with forex.
This one caught my eyes and I figured some of the people don't have access to Quarterly graphs so it could be a good idea to post it.
The CAD has created a very beautifull PinBar at its bottom, problem is there are no signals what so ever {IMO} at any lower time frame to enter the LONG here.
So I am sharing this with you and hoping to hear some opinions about the setup and maybe future entry signals.

Thanks to all who will review this,
ET
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  #10882  
Old May 20, 2008 9:56am
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  #10976  
Old May 27, 2008 5:03pm
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yep and once price broke clearly below 12700 it was an easy call that price was headed down hard. that was a no brainer sell and it has been very profitable. my dow account is very happy about it. now we watch and see if we can get a pullback to that level with some bar confirmation. i dont trade limit orders very often on daily charts but that area might be a decent place to try one.

jim

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I love this chart.... PPZ or S/R trading is very powerful addition to PA. I've been using this daily dow futures chart since the beginning of the year for all my yen needs..
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Old May 29, 2008 9:00pm
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Old Jun 9, 2008 5:47pm
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  #11166  
Old Jun 9, 2008 7:50pm
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you could but you would be trading blind and just HOPING the area will hold. by waiting for price confirmation you now have a proven way of taking the hope for the most part out of the equation. hope and small time frames are the great killers of newbie accounts.

jim

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Buy at the bottom of the channel sell at the top
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  #11168  
Old Jun 9, 2008 7:55pm
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thanks toy,

i figured as much but wanted to point that out in case someone new was dropping in.

thanks for the kind words and we would be honored to have you when your ready.

jim

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Absolutely, I by no means meant trading the channel without price action confirmation. Confluence of signals is what it's all about. Hope to join your group when my forex profits permit
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  #11260  
Old Jun 15, 2008 2:00pm
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my hats off to you stoli.

i dont know how many people actually do this but they certainly have my respect.

jim

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Wow, I finally finished reading this entire thread. Just wanted to thank everyone who has contributed and helped others.

I've been learning FX for over a year and have recently climbed out of the indicator trap. I knew I would eventually end up reading this J16 thread but as a newbie it was a very daunting task to take head on.

Anyway thank you to all who have helped make this thread what it is today and I hope to be a regular contributor to this thread. Take care all and happy Fathers Day!
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  #11384  
Old Jun 28, 2008 1:22am
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nice rac. you called that one like you had a crystal ball. mine showed the same thing.




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.
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  #11607  
Old Jul 11, 2008 6:37pm
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a special thanks to all my old friends that keep this thread active and prospering.

jim
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  #11675  
Old Jul 14, 2008 5:21pm
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Default MY THREAD

Everyone has a right to thier opinion but if anyone thinks they can come in and disrupt this thread would be well advised to think otherwise. I havnt been at forex factory since virtually day one and not have friends in high places.

I would never try to stop free speech and that includes anyone that wanted to say point blank this whole thread is garbage. That is there right but that is not the point of my post.

Intentional disruption can be taken care of with one email and that person wont be posting anywhere at forex factory. Im not pointing fingers at anyone so please no hurt feelings or defensive reactions to this post, im just stating how i feel and how this thread will be moderated.

I can delete any post in this thread i want at anytime and the fact i have never used that ability even once should state clearly im not trying to stop anyones thoughts positive or negative.

Lets get back to what has always made this thread special, traders helping traders in a decent and kind fashion.

Jim
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  #11700  
Old Jul 15, 2008 1:12pm
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spotting these price action set ups at double or triple bottoms/tops and finding divergence with cci,macd,stoch,rsi etc is about as sure a money making set up as your going to find in this business if your a chart trader. spend some screen time and go look to confirm. a strong case can be made to just be patient and trade nothing but these set ups. they are not rare and can give any new or struggling trader a very good chance of success if they learn to use good MM/risk perameters and follow my mantra of treating it as a business. This is a very large thread with a ton of great posts by a lot of great people but trust me when i say this.

If you will take this one post seriously it might be the single most "valuable" one in the thread.

Jim

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any commnets on this dax pin
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  #11701  
Old Jul 15, 2008 1:42pm
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Sometime next month I am going to start doing once a month webinars for NON-MEMBERS that frequent this thread as a way of saying thanks. These will be very basic general sessions. This has been planned for a long time and i think im about ready.

These sessions will be for one reason only. To help you and THERE PURPOSE WILL NOT BE TO PITCH THE GROUP OR GET YOU TO JOIN. You will recieve NO suggestions to join before, during or after the session/s.......... EVER.

Over three years now and im proud to say we have no affiliates, banners, not one dime spent on advertising, no mass spam emails and not one past member has ever recieved a request to come back.

We do things differently and these sessions will be no different.


Stay tuned on when and how to attend,

Jim
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  #11706  
Old Jul 15, 2008 2:34pm
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i will post a chart. i use ocsillators/indicators for one thing only (divergence) and in my opinion its all they are good for. CAUTION!!!
divergence will kill you in a trenbding market. it is best when used at retests AND WITH PRICE ACTION CONFIRMATION.

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Since this thread always seemed to be about trading without indicators i never really took the time to understand divergence as my charts are clean.

So basically you are saying look for your basic price action setup ups which are supported by support/resistance and then check for divergence which is another point of confluence? Anyone feel like posting a chart?
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  #11707  
Old Jul 15, 2008 2:43pm
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  #11776  
Old Jul 17, 2008 5:32pm
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I'm confused (and in quite a heavy trade) on cable. I'm seeing regular bearish divergence on the daily, and the daily pin from early in the week has not been confirmed/invalidated.

Any thoughts on this cable set up?

Thanks
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  #11868  
Old Jul 21, 2008 4:24pm
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  #11952  
Old Jul 24, 2008 3:08am
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Old Jul 24, 2008 5:40pm
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  #12054  
Old Jul 28, 2008 7:19pm
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yes or make the sunday/monday bar/s one bar.

just use the sunday as your open for the monday bar.

does that make sense? i think it does.

Quote:
Originally Posted by mbqb11 View Post
Hey Crown,

Careful here these aren't outside bars. That small bar that is making it look like an outside bar is the small Sunday Bar that is on some of the MT4 feeds(few hours when sunday trading opens). James says to ignore these bars, so just pretend they are not there.


Best,
Mike
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  #12059  
Old Jul 29, 2008 2:11am
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You guys worry me taking these pin bar entries before they are even confirmed by a break. the break on my feed was 2 pips. not enough. give daily a little room, 10 pips or so depending on the currency.

jim

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here is another trade i took of a pin bar on the Aud/Jpy daily chart:
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  #12060  
Old Jul 29, 2008 2:15am
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Old Jul 31, 2008 12:44am
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Old Jul 31, 2008 12:59am
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Old Aug 1, 2008 4:00am
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  #12146  
Old Aug 1, 2008 3:28pm
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you are very observant and into a more advanced area i always hope people will reach over time. a lot of practice begins to unfold these revelations like reading a book.

multiple failed attempts at a strong s/r can be money in the bank even without a bar confirmation and lend themselves to very low risk entries. Trading a blind ( no bar confirmation) entry off of a strong pivot zone ( my term for strong horizontal s/r (not trendlines)) is not the most conservative way of trading but it sure gives you a low risk entry and a super tight initial stop.

your never going to find a better risk/reward set up. The key is not taking these blind entries off of anything other than the strongest/tightest proven pivot zones.

demo is the key and i honestly dont even like the term.

This is the research and developement part of your business. Without it your business will fail.

BTW, this was not a failed pin bar as it did exactly what you would have expected it to do.

thanks gooz for giving me a lead in,

jim



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In situation like this one - volatile periods, multiple daily closes below a very strong support area - failed PBs can become highly profitable signals
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  #12148  
Old Aug 1, 2008 3:45pm
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[quote=StoragePro;2142412]Hi Jaroo

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I am not Jim, but I play him on TV...
LOL. Where are my royalty checks?
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Old Aug 1, 2008 4:04pm
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  #12312  
Old Aug 7, 2008 1:02pm
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this person GETS IT. Wish i had when i was his age. RESEARCH AND DEVELOPMENT. You find something that works and continue to refine by keeping promising methods in the research/dev side of your business. if they prove themselves out on demo you add them to what you do and send them to battle.

you will get to a point where 95 percent of everything you look at is garbage and a waste of your time but you never know when one little nugget from one little place can make a difference. ive always enjoyed this part of the business. for years and years i have constantly had little ideas/discoveries cranking thru my research/dev demo process.

Jim

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I will defently consider it...either way if you guys are intrested in the way I trade its all on BOBOKUS thread...he is the trader that got me to trade the way I do...he is 10 times better then me...I am now trying to get an edge by learning from this thread the Bar formations and improve in price action with this thread...
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Old Aug 7, 2008 10:16pm
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mike may very well be the top dog someday. thats assuming of course that he wants it. no one helps more people outside of me than mike and no one understands the material any better outside of me than mike. mike will probably go have a stiff drink after reading this. LOL.

jim

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Just wanted to give some credit to Mike. You are a good man. The things you have been doing for me (member of J16) and other struggeling traders is just phenomenal. I wish you all the best the world can offer you. Imagine if the world was packed with people like Mike.... Keep those videos coming!!

T
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  #12326  
Old Aug 8, 2008 3:16am
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  #12411  
Old Aug 11, 2008 3:40pm
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This is directed toward ALL readers of this thread.

PLEASE!!! PLEASE!!! PLEASE!!! READ THIS AND UNDERSTAND WHAT SEEK IS SAYING.

IF YOU CANT TRADE DAILY ON DEMO WITH SUCCESS YOU CANT DO IT WITH REAL MONEY.

IF YOU CANT TRADE DAILY WITH REAL MONEY WITH SUCCESS YOU CANT TRADE 4 HOUR.

IF YOU CANT TRADE 4 HOUR ON DEMO WITH SUCCESS YOU CANT TRADE IT WITH REAL MONEY.

THIS IS A PROCESS WHICH REQUIRES COMMON SENSE.

The material in this thread has helped many people but its not the most important lesson/s contained here.

The most important lesson in this thread and the single biggest reason it has produced results for people is the constant pounding home of one fact.

IF YOU WILL COMBINE THIS MATERIAL WITH THE KNOWLEDGE THAT THIS IS A BUSINESS AND MUST BE TREATED AS SUCH YOU CAN OVER TIME SLOWLY BEGIN TO FIND SOME REAL SUCCESS.

I know people get tired of me saying this but here it goes again.

DO YOU REALLY THINK (ONE WEEK,ONE MONTH OR WHATEVER) OF READING A THREAD/METHOD AND THEN TRADING WITH REAL MONEY IS GOING TO WORK WITH NO INDEPTH RESEARCH AND PRACTICE?

CMON FOLKS THINK ABOUT IT.

A PLAN FOR SUCCESS.

1.3 succesful months in a row on daily while demoing (minimum)

2. on daily 3 to 6 months in a row with success with a small account never risking more than 1 or 2 percent per trade.

3. on daiy full size account 3 to 6 months in a row of success with 1 to 2 percent risk.

4. now you can try 4 hour following the SAME PLAN AS ABOVE.

5. if YOU EVER lose roughly 30 percent of your account you STOP TRADING and go back to demo to find out what went wrong. YOU DONT GO BACK LIVE until your account is refunded to its original size.

The outline above assures you will be treating this as a business and garuntees you will never blow out an account.

iF YOU CANT GIVE YOURSELF A COUPLE OF YEARS TO MASTER THIS BUSINESS AND ALONG THE WAY USE SOME COMMON SENSE YOU HAVE ZERO CHANCE OF SUCCESS.

IM literally begging each and every reader of this thread to wake up to this fact.

95 PERCENT OF THE PEOPLE THAT TRY THIS BUSINESS FAIL AND THE REASONS ARE NOT HIDDEN. THEY ARE AS CLEAR AS A DEEP BLUE SKY. THEY ARE HIDDEN FROM NO ONE.

PEOPLE REFUSE TO SEE THE OBVIOUS AND TO THERE OWN DEMISE.

I know this is really big rant even for me but its part of my soul.

IVE BEEN THERE.

Jim










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I would say stay off of 4h if you haven't mastered the timeframes above it first. And if you already know what you're doing on 4h then the question doesn't present itself anymore, but is already answered by itself.

This isn't addressed to you ezz, but everyone:
It appears people have been jumping on the faster timeframes and then ended up getting burnt and then blaming others or the material(...again. Always occurs again).

IMHO: If you skip the lessons, don't complain when you fail the test.

You don't go to the gym and start with 400 lbs either, do you? You work yourself up to it, gradually.
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  #12425  
Old Aug 11, 2008 11:52pm
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i agree with hip and a few others but will add this.

some people after a period of time get good at zeroing in on exact entries on a lower time frame.

its not necessary but its an option FOR THOSE THAT KNOW AND UNDERSTAND THE MATERIAL AFTER SOME TIME AND PRACTICE.

This really comes down to the research and development part of your business.

if it interests you put it into your demo process and see if it works for you.

newbies should get good at sitting on there hands first and concentrating on taking only the best set ups. then they have to get good at managing things during the trade.

when your good at those two things then you can start to try and refine some other things such as micro entries on lower time frames.

jim






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No
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  #12428  
Old Aug 12, 2008 3:08am
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yes, either ignore them or add them to the monday bar and make one bar out of them.

jim

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Sunday bars should be ignored.

Scott
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  #12429  
Old Aug 12, 2008 3:14am
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Old Aug 15, 2008 2:42am
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  #12690  
Old Aug 15, 2008 2:47pm
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HEY GUYS/GALS,

Of course these bars and the methods i use to trade them (pivot zones,confluence, etc..) fail from time to time EVEN WHEN THEY ARE PERFECT BARS IN PERFECT PLACES.

This is not the holy grail of trading. No such system/method exists.

You all know that.

This thread is popular and has been since the very early days of forex factory for one basic reason.

A LOT OF PEOPLE HAVE FOUND IT IS A RELIABLE WAY TO ENTER AND MANAGE THERE TRADES. IT IS ALSO EASY TO LEARN AND IMPLEMENT.

They have also learned that even less than perfect setups have a high odds of success.

success being defined as a move off of the bar reaching a first level of support and resistance based on how i approach/teach s/r.

I dont expect every post in this thread to be a positive one but i would always like to see the negative ones coming from a place of maturity and respect for the years of hard work with this thread and the countless hours of personal time i have spent helping people for free.

I spend just as much time responding to requests for help from this thread as i do from the group.

Its ok everyone, its all ok.
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  #12697  
Old Aug 15, 2008 3:44pm
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fib i appreciate your request. For 4 years this thread has prospered and grown with the understanding that i dont give live set ups and follow them.
Thats my choice and if you are here for any other reason than to disrupt you will respect it.

The group and this thread are educational in nature and designed to get people to take simple material AND GO TO WORK. I help people via private email concerning trade entry and management but i dont do it in a public setting.

Now im going to make a pointed statement to you with as much kindness and respect as i can.

You have made your points and made it known how you feel. I appreciate and respect your opinion. Now its time to prove if you are here to learn or to disrupt. There is now no reason to continue with it if you are not here to disrupt. You are free to complain, call me dirt, curse me or anything else you want but IT WILL NOT BE IN THIS THREAD.

I have been at forex factory since its very beginning and not one time have i ever tried to use my friendships with those that run this forum for heavy handed purposes. I sincerly hope this will not be the first but that is your choice and not mine.

When i started the group i voluntarily gave up my moderator status and any formal positions of "power". When i did that FF as a way of saying thanks for helping with there early growth gave me a FREE banner link in the preffered services area and made me a preferred partner. I never asked for it and ive never paid a dime for it.

This thread is my baby and i will protect it from disruption. period/paragraph.

You are welcome here and i think (based on your experience) you could be a great help to those that frequent this thread.

The ball is in your court fib,

Jim





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James16

Thank you for a response to show you have read the recent comments. But will you consider posting some charts with trades you have your eye on with your reasonings etc to help your followers?
Whether some would admit it or not, it will be invaluable.
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  #12700  
Old Aug 15, 2008 4:03pm
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even better is to have the nose extending down thru the pz with the open and close above/below depending on direction. this gives your next bar the oppurtunity to respect the pz and then fire off in your direction. it also allows your initial stop to be less since if you choose to you can put it under/over the pz depending on direction. i will post a chart.

jim

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This makes a lot of sense and I hadn't thought that far into the placement of the PB. It makes sense that you want the nose of the PB to just touch the PPZ and then get rejected and send price back up to form the PB. If the nose goes too far into the PPZ then it probably will not be strong enough s/r to make the reversal. Your point really hit home for me. Thanks!
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  #12702  
Old Aug 15, 2008 4:15pm
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all im asking for fib is constructive negative posts instead of the normal "forum speak". that demand is why this thread is what it is. im just very sensitive to new comers to this thread showing the old money tec way of stating things. it spirals into disruption. post all the negative comments you wish but do it in a way that shows intent for learning and not disruption. your a smart guy and you know exactly what im talking about. in no way do i wish you to leave. im just looking after something that is very special to me. if you had put in thousands of hours of effort on something similar you would feel the same way. i know you would.

stick around and help man.

i mean that,

jim

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James16

I hear your message to me and will state for the record 'I'm not the bad guy', and I don't appreciate you trying to paint me this way. I will not ask anything more and will leave, you have made your point very clearly. I'm one of the lucky ones (well not lucky, a hard worker) and I have my own methods, but I'm never to big to keep an open mind to learn something new, oh well.
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  #12703  
Old Aug 15, 2008 4:19pm
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  #12720  
Old Aug 16, 2008 12:58am
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this is exactly what im always hoping people will do with this material. this is of course after putting your ideas thru a testing period. these bar methods used with s/r can be the key to making any trading style, idea or system an outstanding success when otherwise it would not be. no one ever talks about the old vegas system but i can tell you that there are quite a few people that supercharged that system with this material for nailing early entries and never looked back.

jim

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I'm sure you've heard the saying "there's more than one way to skin a cat", I also think there's more than one way to skin a playable PB too.

Someone may find this useful, so I'll post how I trade a PB that is of interest.

1) The stock standard way Jim suggests to play. Enter just above/below with SL below/above the nose (generally with a pending order).

2) The retracement, if applicable. I'll fib the PB and try to get in at a better price with a smaller SL. I usually watch lower time frames to see how the price is reacting at each fib level with lower lows/higher highs and other PA patterns (double high/low, outside bars, PB's, DIBS - see below). I don't really care if the price goes past the 61.8% fib. Many successful PB's I have traded have moved beyond this level and were still a roaring success. Others may have a different view on this, but it's my money and I'm in charge. One thing I do practice is never adding to a negative pips position. I'll only add to a green pips position if I feel confident enough the price is going to continue.

3) The DIBS approach on either 1H or 4H with bias towards the break of the PB. SL can be set just past the low/high of the IB, I usually allow more or set it below/above the nose of the pin.

I only ever trade a PB on they daily chart and above. Sometimes I'll scalp lower, but I love my fishing and would much rather be doing this

I guess you could use any trading system to play a PB with bias towards the break of the bar.
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Old Aug 16, 2008 1:53am
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a pivot zone can vary in size of pips depending on time frame and whether or not it is located very near a big round number (a lot are). it can be a very small range or a larger one but it gives you a great way to predict price movement whether your entering or managing a trade.

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Hi, James,

Thanks for your great chart and explaination. Now I follow your thread day by day.

Hope you don't mind asking a question, The problem here is how to define PPZ, The definition I learned from Jarooo is the area right below the ppz box you draw on your chart. draw a box around bars which have same high/low. If the definition of PPZ is arbitray, it will cause confusion.
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Old Sep 4, 2008 11:10pm
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finally being honest with myself many years ago was how i turned things around so my comments are not intended to be critical. your pissed for one reason and one reason only and its the same reason i used to get pissed. your trading with real money when you should not be.

are you actually saying that you just "tried something" with real money without ever testing and getting good at it with some sort of research as part of your trading business? i guess i cant say for sure this is the case g but it sure sounds like it.

this is the curse of this business that never ceases to blow my mind. smart people that throw everything they know about common sense and sound business principles out the window.

THIS WAS ME for over 8 years so im not pointing fingers. ive got a bunch of emails covering the last two months from people that have made great returns on there accounts. they tend to be the ones that demoed for months until they got damn good at it.

i will post some charts showing some of them and the moves they caught over the past 2 plus months. some of them are mind blowing huge moves. stay tuned.

if i can help you in any way g all you have to do is ask.

Jim

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Im done trading pin bars! tried them for 2 months, 90% failed. They suck according to current market conditions. Please spare me of all the PPZ and long nose and bla bla BS. And mostly spare me of the different brokers feeds, thats the worst excuse ever.

Why isnt James posting charts of failed Pin bars? of course, he will always find an excuse. Different broker feeds. Or risk 150 pips but take profit very quickly at 50 pips. Great MM. Whatever. Im sorry for the angry message, Im just pissed off because Im trading pin bars instead of trading the obvious.

Going back to the basics which is S/R.
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Old Sep 4, 2008 11:30pm
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Old Sep 4, 2008 11:38pm
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Old Sep 4, 2008 11:47pm
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Old Sep 4, 2008 11:56pm
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well said but the truth is this. it is very very rare for a good bar to "fail". failure is only determined by (as you said) a lack of understanding. ive given my heart and soul for years now to try and help stop this "lack of understanding" and i will carry on. more charts still to come and one that caught (failed) yours truly for 1.5 percent of my account.

jim

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as it seems that one learns more from failures than from success,
out of frustration gagiul made quite a good point.
it would be good to post as many as possible pinbar "traps", to help newbies understand what's difference between a high-probab trade, and ones wich likely will fail.
but accusing somebody else for your failures and lack of understanding is dull.
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Old Sep 5, 2008 12:04am
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Old Sep 5, 2008 12:15am
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Old Sep 5, 2008 12:28am
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  #13440  
Old Sep 5, 2008 12:51am
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Is the material i teach 100 percent all the time? of course not but IT IS simple and effective when mastered.

Several of the emails mentioned have already been posted to the testomonial page with the rest to be put up soon. You will rarely see these people speak here of specifics because THEY HAVE BEEN ASKED NOT TOO so i dont have to listen to all the whiners complain that i use this thread to push the group.

Nothing could be further from the truth and I have gone to great lengths to keep that from happening.

obviously i cant stop all of it.

please understand one thing.

this thread is a sincere and honest attempt to help people.

you new folks were not here when it was started.

when this thread began it was unusual to see 100 people in ONE DAY at forex factory. IN A MILLION YEARS I NEVER FORESAW WHAT WAS COMING.
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  #13698  
Old Sep 17, 2008 5:13pm
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pullback pin bars in a trend (or consolidation) to large round numbers with pivot zone/fib confluence can open the door to success in this business if you never learn another thing. this is the core of how i daytrade the mini dow/ns/sp. ive said it a thousand times but it really is just a question of practice. your a valued poster here ryan so dont let the BS get to you.

jim

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YES!!! Okay now don't get all emo and screw it up thinking about how much you can make lol. That's it you got it not hard just have to NOT SCREW WITH IT, it works if you lose it happens just stick with it. I really like using PB's with the trend on pullbacks, it's one of the 2 setups I trade. Also I just watch the eur/usd it has enough trades most of the time.
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  #13959  
Old Sep 26, 2008 2:11pm
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thanks luds,

i truly appreciate your kind words.

jim

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James

your thread was the first I read when I joined ff, the time and effort you have put into this is greatly appreciated. I just sat down last weekend and thought about what is truly here. You have set me on the road jim and I am truly greatful.

Thankyou Sir.
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  #13961  
Old Sep 26, 2008 2:54pm
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counter trend or against the current trend.

jim

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Originally Posted by rosssurf View Post
I have read back through several pages to find the answer, and "CT" is too short of a word to search. What does CT mean/stand for?

Thanks in advance/pardon my ignorance

Ross
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  #13964  
Old Sep 26, 2008 3:08pm
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thanks buddy,

jim

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Jim,

I would like to echo the thanks posted above. The work and effort put into this thread has given me the courage to believe in what I see. Thank you for creating a solid path that we may follow. When I read your posts about being in the fetal position it slams home like a lighting bolt in my gut. I think Hell yeah , been there done that. Then you have moved on to not only trade profitably but are kind enough to show others the way. My heartfelt gratitude.

Jason
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  #14411  
Old Oct 14, 2008 6:41pm
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  #14413  
Old Oct 14, 2008 8:18pm
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well i would never say this business is easy but i will say this.

its a heck of a lot easier taking trades like the ones on the charts i just posted when your trading a large account as opposed to a small one. a large account holder can simply be patient and wait. a small account holder just cant. i know ive been there.

every month with all the pairs we have there are easily 3 to 5 lead pipe locks and usually more. if 3 trades total 300 pips and are worth 30,000 for the month is that worth it to you? sure it is. if those same 300 pips are worth 300 or less is it worth your time and effort? usually not and its why new traders overtrade and blow out accounts.

there truly is something to be said for just demo trading for as long as it takes to save enough for a large account. been there and done that also.

jim

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Originally Posted by Pipfox View Post
James,

Thank you for another simple yet highly effective representation of "easy money".

I have always understood your charts but have never REALLY UNDERSTOOD them at the same time. Recently i have found myself begin to truely understand how simple trading is.

I do believe that thanks to you and many other generous souls on this forum I recently had an "AHA" moment. I know i still have a long way to go but I am now one step closer.

Its almost like the more you give of yourself to the markets, the more they give back!

Thank you.
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  #14417  
Old Oct 14, 2008 8:33pm
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as close to a sure thing as your gonna see. i thought that was more than just a texas thing. lol.

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What the heck is a "lead pipe lock"? Is that a Texas thing?
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  #14419  
Old Oct 14, 2008 8:41pm
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well lets look at it. 300 x 100 is 30 grand. so its trading at 100 per pip.

lets say your trading daily charts and your stop is 75 pips and your willing to risk 3 percent of your account.

250,000 x 3% = 7500/75 = 100 per pip.

is 10 grand a month enough to keep you interested and still sitting on your hands so you dont take marginal trades? i cant answer that but if it is just do the math.

250,000 x 33% = 82500

82,500 x 3% = 2475/75 = 33 per pip

33 x 300 = 9900

im about to walk out to eat but i think i got the math right.

jim

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What is "large account" for you ? I think it's 50.000 $

by the way - for imagination : what's average salary in usa ?
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  #14427  
Old Oct 14, 2008 10:51pm
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trend questions are always hard for me to answer because i dont trade like 99.9 percent of other traders. Most of my trading could be considered "daytrading" off of a daily chart. other than myself and those i have taught im not aware of anyone else that approaches trading like i do.

with forex i trade a large enough pip size that a half or one or two day move off of a great daily bar is more than enough to make a significant profit and i catch more than my share of great moves. risk reward also means nothing to me. why would it when im 95 percent sure or more that im gonna get some profit or at the very least plenty of time to get my stop to breakeven on the entries i take?

i wait for the set up and if it does not happen i simply do not trade. i check the bars integrity, check for divergence, check fibs, check my pivot zones and if its there its there and if its not its not.

i trade the mini dow a little bit differently but not much. i daytrade that market with a 2000 tick chart and look for the above mentioned confluence at round numbers. 50,00 etc. im the only person on the planet i think that daytrades that market with a 2000 tick chart but i quit trying to be like most traders a long time ago anyway.



Quote:
Originally Posted by sonicdeejay View Post
James.

So u r not keen on the Short side???


Glad to see u ard, Sir..
Sonic
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  #14434  
Old Oct 14, 2008 11:28pm
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see this "means" a lot to me because if you dont understand by experience like some of these guys/gals do then then YOUR NOT gonna "get" what im saying. this was very hard for me early on with this thread and the group.

what i do is simple but some of it just has to happen for you with actually doing it before you will understand. it used to drive me crazy trying to implant into peoples brains that much of what you have been taught is simply flat out garbage.

things like complication equates to better, risk reward is key, brokers are out to get me, why did the market turn where it did, lower time frames give more trades and will make you more money, the market is random and therefore impossible to trade. blah, blah, blah. for gods sake what a bunch of bullshit.

markets are about price and support and resistance. if i look at a bar and take a trade and watch it go 75 pips into profit and then take a loss im a damn fool and i need to quit and go find out whats causing me to be a damn fool.

treat this as a business. dont trade with real money until your proven, trade simple, trade less and trade smart and it helps to have a large account.

anything else is a waste of your time and will probably end in a waste of your money.

jim

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Originally Posted by bundyraider View Post
Jim on Risk Reward...

I've been on both sides of the fence now. Narrowing down to good R/R trades has helped a lot in the past, but I've found as I've gotten more proficient with choosing the correct bar based trades, and managing them correctly that I've been able to put that further into the background. Especially when you start to trade pullbacks of bars more successfully and choose those well also.

I guess what I'm saying is , I started using PA to improve what I already had learnt, but now I'm growing more and more into your type of trader. ...very smart. Sneeking it in! ...We're on to you now... ... You'll have many, many clones in the years to come for your evil plans. lol
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  #14435  
Old Oct 14, 2008 11:35pm
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it was a sad day for me when merlin went back to live in his cave. i miss you merlin. i truly do miss you. the old days were fun my old friend.

he will probably never see this but i just felt like saying it.

the respect and admiration i have for this man is in the top 5 of my life and i never had any correspondence with him other than email. we aint in kansas any more toto.

i dont mind saying this one bit and i mean it from the bottom of my heart.

i love you magic man,

jim
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  #14473  
Old Oct 15, 2008 10:26pm
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macd, stoch, rsi, cci among several others. its just a question of what do you like. they will all be a bit different when set at default but you can always play with the settings.

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Thanks for validating this James, I was hoping this was an A grade trade. Your chart said "like taking candy from a baby" but lead locked has to my favorite saying In my study the only thing I missed was divergence, Do you always use MACD to verify divergence?

Best Wishes,

Jason
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Old Oct 15, 2008 10:28pm
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this made me smile.

jim

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Originally Posted by giusepp8 View Post
Got to tell everyone what happened to me today ...

Today i went to a trading workshop (free) set up by my bank here in italy...
The course was intended for explainations of the banks platform for trading but after an hour people was starting to question about Technical advices and how to trade charts ... seen the big moves down i guess a lot of people had red accounts.
However to advicer/teacher started to explain how we could trade Breakouts on 5min charts with tight stops and tight takeprofits, I said it was crazy and to risky for us small account traders but he continued ... so around 15gmt he took eur/usd h/l daily range and said to place a buy order at 1.36, 'cause he was sure that there was going to be a new high....
I illustrated him that yesterdays support turned to a nice strong intraday resistance and in addintion a pin formed on it even if it was not a good location and if he was willing to take a position a short was probably a better idea .... guess what ???
... he went long !!!
Really you should have seen the other participants face when price went down ... and even if today I didn't make money with PA,.... PA rewarded me with glory and satisfaction ....
Thank you to all .
giuseppe
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  #14475  
Old Oct 15, 2008 10:32pm
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no problem with that at all. posts like yours are what makes this thread great and keeps people coming back. my style simply comes from an 8 year journey of incredible pain. in a thousand years i wouldnt say i know the only way to a bit of success.

jim

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sorry james i dont agree with you here. take GY todays PB example. it broke the pin and it went 94 pips in my favor before reversing and retracing 180 pips. If i would have moved stop to BE then i would have missed the 600 pip move that came afterwards.
I think it really depends on what kind of trader you are. long term or daily scalper.
im trying to be longer term trader so wathcing a profit of 100 pips becoming -100 pips should be normal and not damn foolish.
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Old Oct 22, 2008 2:13pm
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Old Oct 22, 2008 2:34pm
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Old Oct 22, 2008 2:54pm
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  #14632  
Old Oct 22, 2008 3:27pm
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THANK YOU,

this thread has been a true thrill for me for years now. the only thing that seperates me from any of you is the time i have been doing it. im able to manage my trades better and that simply comes from experience. the simple truth is that if your ultra picky on your entries its actually hard to lose money with this material. problem is many of you are convinced that your going to start on an hourly chart or even lower. i cant help people that choose to do that because i couldnt even help myself years ago when i went down the same road.

jim

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Thank you James, I'm with Navin, I gain each time you post a chart. I have James16 folder on desktop for reference with all your charts in them.

Do you ever let your positions run or do you always take money off the table at first s/r target?

Thanks,

Jason
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Old Oct 22, 2008 3:34pm
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ok i will go along with those.

jim

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I see 4 things that make these two stand out.

1) they had room to run till they hit first S/R target.
2) they closed in the direction of the trade ( down )
3) at least 75% of the bar was the nose.
4) the third bar could never take out the 1st bars high.

How is that? Please tell us if that is on target or I missed something.

Best wishes,
Jason
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  #14788  
Old Oct 29, 2008 3:20pm
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  #14829  
Old Oct 30, 2008 1:53pm
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i started to answer this and saw mikes response. i always appreciate long timers doing this and i would be lying if i didnt state clearly why. i also appreciate posters like eltrot who ask pointed questions and do it in a kind and mature manner. people like you eltrot are why this thread was started and why it prospers.

when mike or any number of old friends to this thread post why a bar did not fail but simply was not taken for clearly defined very good reasons it clearly shows that its legite and something they learned over time as opposed to some kind of excuse from me. this is a great example.

1. was the bar at a high? yes
2. was it a decently formed bar? yes
3. did it break the pin bar for an entry? yes

4. should ANYONE have taken this entry above 2400? NO!!!

5. is it clear as to why? yes

6. would someone with just a little experience with this thread have known that? no

7. is this just more proof that any method a trader decides to follow should go thru a minimum 3 to 6 month demo period? yes

jim

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Originally Posted by eltrot1979 View Post
nice chart, question though - do you think this was a higher probibility setup than the daily pin bar on the 22nd Oct that failed? That pin looked to be at a 'nicer' level to me, with 50% fib confluence from the down move on the monthly chart.

Thanks
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  #14831  
Old Oct 30, 2008 4:18pm
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yeah ive been paying attention since 900. lol

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We should make you a trader's party for #1000 , let's say Ibiza? :-))
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  #14895  
Old Oct 31, 2008 6:04pm
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