I really have reservations partaking in this thread. This post is going to appear as fanning the flames, but it’s not done with any ill motive behind. Summary of James16’s chart thread. Posted on July 27, by lowcheemeng. Uses his indicators as support and resistance levels in order to see the big. The forexfactory James 16 thread is pretty legendary. But the thing is + pages. Worth reading? There’s like a 2 page pdf summary out there.
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James16 got a large following there regarding the type of strategies or the combination of forex trading strategies he uses there. For example, he just:. He appears to be a person who does not really have tgread knack of explaining his trading strategies in a clear-easy-to-understand manner for newbie forex traders. Even Advanced forex traders will take some time to understand the forex trading strategies in james16 posts.
Quality rebuttal versus trading gurus such as James 16
The way to understand a trading strategy properly is to write it in a structure similar to the forex trading strategies that are on this site:. However, if you are lazy and just want to get to the meat of the forex trading strategies that james16 uses then keep reading.
If you are a new thgead trader, you will find this a bit too much, you have to read a handful of times to fully absorb all the information. James16 tends to prefer trading the daily and the weekly charts. James16 says that larger timeframes have more probability of success compared to trading in smaller timeframes.
James16 pin bar analysis – Free Forex Trading Systems – Forex Trading Forum
I would agree with him on this. What this means for you reading this is this: If you are forex trader that like frequent trading, this will really test your patience seriously! Pin Bars Are Amazing!
Especially when they form around areas of confluence fib, pivots, support and resistance levels. You have to trade the pin bar in the opposite direction the spiky tail also known as the shadow is pointing.
So, a bullish rejection pin bar is one that rejects lower prices and thus tips off to take a long position or buy the market, while a bearish rejection pin bar is one that rejects higher prices and thus tips us off to take a short position or sell the market.
Trading the pin bar threax on higher time frame charts like the 4 hour and daily time frame, is a much higher probability way to trade them than trading them on the 5 minute or other low time frame charts.
You want to trade pin bars that form at swing lows in an uptrend or at swing highs in a downtrend.
james16 Chart Thread
You can also watch major EMAs exponential moving averages for pin bar setups. The main EMAs that you can use are:. This fact makes it one of the most versatile forex trading strategies out there. So there you have it, now that you know some solid facts about Forex pin bar trading, why not you try it in your forex demo account.
Focus on trading pins bars in trending markets first as this gives more high probability of success. Yes, James16 also uses moving averages as well as support and resistance levels in order to see the big picture. The simple averages he uses are the 21, 79 and The Exponential MA is He also uses a Keltner Channel with 8, 1.
I hope this post has clarified some of the confusion surrounding the james16 forex trading strategies and methods. So simple and clear to refer to. Now when this theory is learned, the real work of implementing it begins.
Thanks for the great info. Did you figure out the exits. I have no idea if he trails or scales out. Any info would be appreciated. But if anybody seeing this has any idea how James16 exits his trade, could you please use the contact form and send me the info and I can post or submit a comment.
Thanks for such an clear and precise post. It was a real pleasure to read it, very well done! James16 is just another scammer. Just another con artist looking for suckers to take the bait. Maybe you know something or have dealt with James before to say what you said. It would be good to shed some light into your experiences rather than painting a blanket statement saying James16 is another scammer???
Mail will not be published required. For example, he just: But for now, this is my interpretation of James16 Forex Trading Strategies and Methods He appears to be a person who does not really have a knack of explaining his trading strategies in a clear-easy-to-understand manner for newbie forex traders.
The way to understand a trading strategy properly is to write it in a structure similar to the forex trading strategies that are on this site: In short, I am going to simplify the forex trading strategies james16 uses. For forex scalpers, or intraday traders, these forex strategies are not for you. He does this buy using Price Action Around Areas of Support, Resistance, Fibonacci Levels etc… His trade entries are based on a bars reversal candlestick patterns clustered near points of confluence.
Must be within 2 pips of each other. If the high or low is broken, it means the resumption of the current trend. How to spot this pattern: Trading this pattern is pretty straight forward: Place you stop loss pips below the low of the 2nd candlestick in the pattern. Place you stop loss pips above the high of the 2nd candlestick in the pattern.
How to spot two Matching Highs: However, it takes a skilled and discerning eye to find high-probability pin bar setups that are worth risking your hard-earned money on.
James16 Forex Factory Thread –
Thus, you will need to learn what a valid pin bar setup looks like, as well as when and how to trade them. Pin Bar Fact 1: Pin Bar Fact 2: Pin Bar Fact 3: Pin Bar Fact 4: Pin Bar Fact 5: The main EMAs that you can use are: The chart below shows you how to trade pin bars: Later on as you gain confidence, you can try trading on range bound markets. What is the purpose of the moving averages?
I most likely think he uses moving averages for: Posted in Complex Swing Strategies. May 29, at July 22, at August 10, at 2: August 6, at August 17, at 7: August 18, at 7: August 25, at 4: August 25, at 7: November 22, at 5: Leave a Reply Click here to cancel reply.
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