Anyone still uses James16 Price Action?

[ffsear]

I think you are , because you undestand patience , the most important skill in trading , as per your posts some where.I would say , you are a more professional trader than myself!

I understand myself... and adapt my trading style to suit (having tried everything from scalping to long term swing trading) ..

An impatient trader can make money, as long as he understands his weakness and controls it. Hence you won't find me trying to scalp low time frames (anymore).

 

[foroom lluzers]

I understand myself... and adapt my trading style to suit (having tried everything from scalping to long term swing trading) ..

An impatience trader can make money, as long as he understands his weakness and controls it. Hence you won't find me trying to scalp low time frames (anymore).

I will be spending time reading your previous posts , to see if I can learn something from you .I am highly knoweledgeable and experienced with the markets , but I am always learning something new.

BTW :scalpers get scalped and mind traps butcher scalpers .

 

[ffsear]

I will be spending time reading your previous posts , to see if I can learn something from you .I am highly knoweledgeable and experienced with the markets , but I am always learning something new.

BTW :scalpers get scalped and mind traps butcher scalpers .

Would you like some advice?

 

[Chartsy]

I get the feeling the mental side of trading is overplayed a lot.

I mean, just don't be an idiot with your risk, place a stop loss and don't over leverage, pull out of the markets if a pre determined drawdown limit occurs.


No matter how strong your mental game is, it can't create an edge, mathematically speaking. It can probably destroy an edge, no doubt, but it can't create one.

 

[foroom lluzers]

I get the feeling the mental side of trading is overplayed a lot.

I mean, just don't be an idiot with your risk, place a stop loss and don't over leverage, pull out of the markets if a pre determined drawdown limit occurs.


No matter how strong your mental game is, it can't create an edge, mathematically speaking. It can probably destroy an edge, no doubt, but it can't create one.

Patience is the professional's edge , it is your mental edge , it allows you to cherry pick the best trades out of a mathematical selection of trades.

Take any data , if you have the optimum information processing skills , you will discard lower probability trades , your patience will let you wait ,wait and wait for the very best trades.Here patience is your edge.Patience is a mental skill.

 

[Chartsy]

Patience is the professional's edge , it is your mental edge , it allows you to cherry pick the best trades out of a mathematical selection of trades.

Take any data , if you have the optimum information processing skills , you will discard lower probability trades , your patience will let you wait ,wait and wait for the very best trades.Here patience is your edge.Patience is a mental skill.

I agree to a certain extent that patience may enhance your chance's of success. Still, being patient and picking the best setups only means that you are playing your edge how it was meant to be played without interruption.

If you have great patience and discipline, but still have a method or system with no egde, you still will not make any money.

 

[ffsear]

I agree to a certain extent that patience may enhance your chance's of success. Still, being patient and picking the best setups only means that you are playing your edge how it was meant to be played without interruption.

If you have great patience and discipline, but still have a method or system with no egde, you still will not make any money.

I agree with this. If you have no patience, your ****ed, regardless. Its not an edge as a retail trader over who's taking the other side of your bet.

Retail traders can claim they have an "edge" over institutional traders because they don't have to trade or hit targets, thefore they can "afford" to be patient. But its only part of the puzzle.

 

[NVP]

patience is a virtue ....but i want mine NOW !!!

 

[foroom lluzers]

I agree to a certain extent that patience may enhance your chance's of success. Still, being patient and picking the best setups only means that you are playing your edge how it was meant to be played without interruption.

If you have great patience and discipline, but still have a method or system with no egde, you still will not make any money.

Patience is the hardest skill , because of the psychology around patience.
There is fear of missing out , the wrong thing to do by sitting and doing nothing amd the clever monkey brains we have .


BTW These mind traps are faster than a slot machine , if you are a screen based trader . In highly mixed and volatile markets , the price action trader will be cleaned , the faster the market the faster they lose .


http://www.trade2win.com/boards/psy...nd-traps-affecting-traders-3.html#post2897220

What non traders that sell this price action understand , that when trade execution and information processing mind traps are combined, they will screw traders with price action trading.If there was a psychology section , traders would learn the marketing trick of price action courses and it's value.

There is no edge with price action trading , otherwise real traders/professional traders (not j16 educators/teachers ) would be trading it .


Those who can, do; those who can't, teach.
Prov. People who are able to do something well can do that thing for a living, while people who are not able to do anything that well make a living by teaching.

 

[foroom lluzers]

https://www.forexfactory.com/showthread.php?t=254552

I found this on forex factory .

What do you guys say about this thread on forex factory?

I never go to forex factory .

 

[foroom lluzers]

Ho-hum, I keep trying to stay away from T2W but feel compelled to write a rebuttal to what I consider to be bollox

Big rebuttal teams are employed on other forums like E T and forex factory , they are highly regarded and intelligent people .You doing a good job of it!

 

[foroom lluzers]

mmm, the rationale of a pin-bar is that there has been a strong rejection of a low (high) point with some momentum behind it. It is assumed that momentum will carry on. If it starts going wrong once you are in then that momentum has been lost and the the rationale for the trade has disappeared. To wait looking for a turnaround before your stop below (above) the tail is hit now relies on hope.

A pin bar with a lower pin is a sign of lack of support or pin bar with pin at top is an area of lack of resistance , often a sign resistance is breaking.

So all this price action has zero value.

 

[barjon]

A pin bar with a lower pin is a sign of lack of support or pin bar with pin at top is an area of lack of resistance , often a sign resistance is breaking.

So all this price action has zero value.

Whatever floats your boat, fl.

It may have zero value to you, so what? I don't think any TA or price action has any predictive value and is only useful as a tool that provides a framework to trade. It's the money and trade management that counts for much more.

 

[foroom lluzers]

Whatever floats your boat, fl.

It may have zero value to you, so what? I don't think any TA or price action has any predictive value and is only useful as a tool that provides a framework to trade. It's the money and trade management that counts for much more.

Agree with you on mm , timing th entry is not that important , exit is more important i.e having the patience to take as much profit as market gives .

 

[foroom lluzers]

Whatever floats your boat, fl.

It may have zero value to you, so what? I don't think any TA or price action has any predictive value and is only useful as a tool that provides a framework to trade. It's the money and trade management that counts for much more.

Here is confirmation from the protagonist of price action courses , that it has zero value with the psyche.

Try http://www.forexfactory.com/showthread.php?t=2331

Lots of study required plus lots of demo trading but ultimate success is down to you (governed by the bit between your ears).