both option?

Poll to see Long term vs. Short term traders

resembles a random walk, but the market is farrrrr from random. with that said, I agree with mr.demark(my PA strategy is based SOLEY on cutting losers and letting profits run). My winning % is dismal at best some months. I also agree MM is the ...

james16 Chart Thread

now were talking Good Luck with it, Mike

risk free trading on fridays

There is a difference b/w devising a plan based on the dynamics of a certain time/day(and trying to profit from it), and being naive to believe that this plan is risk free(which leads to many bad habits). The second you click buy/sell your bankroll ...

risk free trading on fridays

i found the worst thing was my insomnia...I consider myself to be a night owl with a mild case of insomnia. But, with trading it is nearly impossible for me to fall asleep well. Watching 4 monitors with charts, and numbers and all kinds of shit ...

is trading good for your health?

it depends on your exit strategy

Knowing when to exit:Trade Failed

Hi Dan, Welcome to the greatest thread on forex factory start here for Pin Bars url But slowly make your way through this WHOLE thread. I know it is long but it is well worth it. You will find so many pinbar examples it will make your head ...

james16 Chart Thread

EA stands for expert advisor, which is basically a program that trades for you(after you write code and such) better information for you url best, Mike

What is the meaning of "EA"?

Kevin, wasn't you at all. What I meant was sometimes when you are combining bars, the last bar may be something like an inside bar, but for me it is easier to look at it as a pinbar(when the bars are combined) Mike

james16 Chart Thread

Hey Kevin, In all honesty you can combine as many bars as you want, as that is just giving a picture(pinbar), of what price is doing. I tend to only do it with 2 bars on the 4hr(sometimes 3, if the look is right)...but on the daily and up it is ...

james16 Chart Thread

If you are speaking for yourself then that is fine and understandable. But everyone has different psychological hang ups, and mine certainly has nothing to do with win %. And yes I trade real money Anyway what I was getting At was expectancy, but ...

Is this a satisfatory setup?

Just wanted to add a note. Everyday almost you will find PA setups. Some better then others. It is your job as a trader to decipher what fits into your trading plan. What is your trading plan? Ah the big question. Everyone will have different ...

james16 Chart Thread

yep this is a DBLHC, if you decide this is a bar you want to play, you can play a break on the current bar, or if you want to play a retrace you can do that also(depends on the trader/plan) Best, Mike

james16 Chart Thread

It is a problem if you do not adapt to it. With every problem comes solutions, so find a way around it. Use this "knowledge" or what you believe to be causing you problems to your benefit. Bemac discusses how years back before the slew of ...

Is trading FX for living a myth?

My condolences to you and your family Take care of yourself, Mike

Turbo's Journal

Just some thoughts before I get some sleep. I have noticed talk of the whole "what do I do now?" stuff. And it kind of runs into other topics that are important. So I figured I would bring this stuff up again. I certainly don't want to discourage ...

james16 Chart Thread

That is interesting stuff. And really good way to start developing a trade plan around your backtest results. That is the most important thing, after backtesting, and gaining confidence is to develop a full game plan. Keep us updated on your ...

james16 Chart Thread

There are not signals given inside(the PF is about teaching people to trade for themselves). A lot of people keep journals in the PF, so you can compare trades. What goes on inside (aside from the education), is a constant discussion on different ...

james16 Chart Thread

The information contained within the James16 is not a mechanical system(although portions can be made mechanical). Every single trader can have different results so there is no exact number of pips or drawdown anyone can give you. I will say that ...

james16 Chart Thread

Hey dfstone, Thought I would chime in with my view on your questions/comments. Again all, these are MY VIEWs(MY BELIEFS). Don't take anything personal and I am not trying to offend anyone Have a good weekend, Mike (answers below in bold)

james16 Chart Thread