James 16 or Forex school online...?

Beginner Questions
1

I’ve been reading up on forex for a about a month or two now now and have seen quote a few video’s on youtube. The trouble is i don’t know who i can trust and who to believe.

I’ve heard really good things about James16 and Forex School Online but i don’t know which one to use. I see myself as a price action trader and i’m keen to get a firm strategy.

Forex school online is a $287.00 one off fee to gain access to his in depth analysis and strategies plus has video tutorials.
James16 is $129.00 for per month for 12 months then free for life is similar to above above its more written.

Are they worth it? Has anyone signed up with any of them?

flipmode112

2

IMO dont do the course, try not to spend any money learning about forex. Get a demo account with a broker.its free. spend hours looking at the charts everyday messing about with different tools and indicators. check economic events. you can learn so much without spending money.

3

I bought FSO when I first started trading. It’s not worth it. There is a reason why neither Fox nor any of his students can post up profitable track records - they simply do not have them. He is a good motivational speaker and a sweet talker, but that is about it.

Johnathon Fox at Forex School Online and Niall Fuller at Learn to Trade the Market are both just repackages of the James16 material. They saw how he was making out like a bandit with membership fees and hopped on the train to copy him. I was actually banned from Fox’s thread for pointing this out, and then he just swept it under the rug.

If someone who is trying to sell you something cannot show you a verified www.myfxbook.com account that is in profit after a significant number of trades, run the other way. I spent a year looking for worthwhile strategies on Internet forums and for-pay sites. In the end, I found very little of value. There are a few nuggets out there, but a lot of not-so-great stuff you’re gonna have to sift through to find them.

Just pull up a clean candle chart and start trading. Learn the market like you would learn a language. Give names to patterns that you see repeat themselves, and observe how price behaves. You will see that the rubbish that Fox and friends pass off as price action is really just a tiny facet of what real price action actually is.

4

Thanks for the heads up jadd806. There is a lot of useless information out there and too many people who exaggerate how successful they are. It makes it difficult for a newbie to develop.

I may just study the free material from james16 and take it from there hopefully it gives me a better understanding of price action. I’m not sure i know enough about price action at the moment to go out on a demo account and create my own strategy. I feel i need to be educated more.

5

My advice…try to learn from someone who has actually been in the pits or with a big broker trading for 10-15 years.
There are some really good free videos on youtube, you just need to really dig.
It’ll be easy to wave through the BS. Just use common sense.

6

I suggest James16’s course… He has more than 25 years experience and teaches every aspect of his trading style…
Once you have paid for one month of his course you have access to all of his text explanation and more than 150 webinars in wmv format which means you can download and save it all… My suggestion: Buy a hard drive and store it all for yourself. (DONT SHARE IT)

Not taking advantage of other peoples experience whether it is price action, pattern trading or anything else, is f***ing stupid!!!

7

Join Date: Jun 2014
Posts: 8

Nice marketing pitch. Smells like a shill.

James, is that you?

8

Not a bad idea. At the very least finding what doesn’t work is just another step in the journey to success. And maybe you’ll find a few things that do work. You can then use those concepts to develop your own strategy.

9

The best thing we can all do is learn to think and trade like the professionals do.
In many cases, that means doing/thinking the exact opposite of almost everything you’ve probably been exposed to so far.

10

My friend I think you know that I have the utmost respect for your knowledge of forex, but on this occasion I have to disagree. I think this is a huge, huge, huge, fundamental mistake new traders make, and that is trying to learn from a trader who has worked as an institutional trader. Retail trading and institutional trading is as different as night and day. Retail traders need to look at what institutional traders did not why and use the what in their trading strategy. The “why” a trader needs to learn from a retail trader. I agree with you 99% of the time, but this is the 1% I don’t. But again this is only my opinion.

Flipmode112
Try to look at buying anything in this light. Either you’re buying Steak or you’re buying Sizzle. In this case Steak would be a purchase that deals with a trading method. No matter what Trading Method you use, it has to give you more positive results over the long term than negative all successful traders agree with that. What they all have different opinions on is the approach.

All successful traders will tell you make sure you’re buying Steak not sizzle. Steak; A trading method that deals with trend, momentum, cycle, support and resistance. Sizzle: Secret , Never before, Trade like the big boys, Free: signals, coaching, access to the private members forum, alert pkg, live trading room

[I][I]Definition of 'Price Action’
The movement of a security’s price. Price action is encompassed in technical and chart pattern analysis, which attempt to find order in the sometimes seemingly random movement of price. Swings (high and low), tests of resistance and consolidation are some examples of price action. (investopedia)

The candlestick and price bar are important tools for analyzing price action, since they help traders visualize of price movement. Candlestick patterns such as the Harami, engulfing pattern and cross are all examples of visually interpreted price action.[/I]

In short price action is the movement of a currency pair up or down. First thing no matter what strategy you decide, indicators no indicators, bots no bots, VSA, VPA, Trend following, scalping, day swing and position trading, everything has to deal with price action and what does the picture you’re seeing in front of you mean.

What everyone is telling you is there is very little anyone can sell you that you can’t get for free. Lets take a price action trader offering you a free price action course. The free course tells you how to find where price has been and where it may go in the future is probably the steak. But for the upgrade and purchase you get advanced price action strategies, access to a private members forum and a bunch of other things that makes the current if you act to day price you’ll get for x amount of dollars which is normally xxxxx amount of dollars is probably sizzle.

Success in forex depends solely on the decisions you make. You make good decisions by gathering relevant facts, listing the relevant options and then choosing the least of the evils. Example. You take one of the free price action courses. You follow a price action thread, especially if you did the poster free price action course. Once all that’s done, if there is something that’s not clear you post what’s not clear on newbie island and get opinions from other more experienced traders who have been where you are. While you’re doing that, you study more free info. In a very short time different for everyone, you will take the free price action course you took, the free utube video’s, google searches and baby pips forums, blogs, threads and develop your own trading method based on price action but more important, based on your personality, experience and goals. Remember how you start is not how you have to finish.

How do I know this? Because I have been where you are along with other traders from this site. In my case I started out as a day trader, using a moving average cross, across the daily, 4 hour and one hour time frames verified by 2 trend indicators, 2 momentum indicators, 1 cycle indicator and 2 Support and Resistance indicators. I purchased a day trading course that subscribed to the previous and for only $90 a month, I got access to advanced day trading strategies, the daily alerts package, 2 live trading rooms and a mentor if needed. Sometimes better to be lucky than smart, I never purchased the additional package instead did exactly what I’m telling you to do. I took all the free information that I got from this site, participated in threads, watched a ton of utube video’s and read as many articles, plus the course purchase and developed a trading method, based on my experiences, money, personal situation and goals. Today I’m just a trader who trades opportunities. Hope this ramble on and on (bad habit) helps you. Good Luck
Gp

11

Well thank you for the compliment- I feel the same way regarding your commentary :).
I can see the validity in your opinion and am completely on the same page as far as newer folks learning the “what” part of institutions (i.e. footprints through price action and candlesticks).

I should have prefaced my comments.
I know that my trading confidence skyrocketed when I heard how the major stake-holders and syndicate traders actually interact in the markets. I wasn’t necessarily saying that we need to mimic them (quite impossible), but, that we should more or less be aware of how they operate.

I think that in order to truly be proficient in anything, you need to learn as much as you can about it and gain perspective from all angles.

Thanks for keeping me honest though :slight_smile:

12

Easy; you are honest and 100% correct at least as far as I’m concerned.

Once you can look at this

default.jpg700×293 25.4 KB

and realize the market is continuously in one of these 4 stages no matter what time frame or pair, indicator, or strategy you use, this is what your technical, fundamental and sentiments have to address

That’s the easy part. :60: the hard part is institutional traders and/or smart money or whatever else you want to call them are no fools and try to trip you up with false signals or moves. :17:

That’s what happens when a lot of traders say forex is fixed, nothing but gambling and (all of our favorites) I don’t understand, this worked before, but lately everytime I enter one way the pair goes the other way and I get stopped out.

Good news is like everything " I think that in order to truly be proficient in anything, you need to learn as much as you can about it and gain perspective from all angles." attributed for FOREXunlimited

Again this information is all free on this site, and you have some real experts who trade using it every day.

13

I don’t use them as a broker but if you search FXCM on YouTube, they’ve got a heap of videos that I thought were pretty good. If you can find it, there should be a playlist for their 2011 expo. On top of BabyPips’ School of Pipsology, which I hope that you’ve done, a lot of brokers offer some form of education as well. You shouldn’t have to pay for anything; all this money is better of in your trading account.

It’s safe to say that you can get ANYTHING on the internet, it’s just a case of finding it. Yeah you’ll need to sift through a heap of hyped up garbage but there is good stuff out there. If you spend enough time in the Forum, you’ll soon learn which members you should take heed of & then just look for recommendations from them. GP regularly recommends a Fibs video (I don’t have the link to hand) & it is a superb video…albeit rather long but it’s a gem. Keep an eye on the threads, look for recommended links/videos, browse various sites & watch YouTube video after YouTube video (just make sure that 90% of them are Forex related & not too many ‘fail compilations’). I always keep a notepad to hand & scribble notes all the time, just pick the nuggets of wisdom out of all the rubbish & once you’ve filtered it down to what’s useful & what is useless, then just pick the golden nuggets that you think will help you. Create a “Forex” folder & many many sub-folders in your internet Favourites & start saving links too.

You’ll get pretty much everything for free online but if you are going to part with your money then please remember: a fool & their money are easily parted. Do your due diligence & research in to everything & like Jadd said, a verified myfxbook account will help you filter out who is talking the talk & who is walking the walk.

14

Wow, thanks alot for the information everyone. I think i’m going to go down the ‘look for it myself on the internet for free’ route :smiley: It seems wiser to save my money for the trading account.

Can anyone recommend any good youtube video’s that can teach me more about price action, fibs etc…?

I prefer watching videos to reading pages and pages of info…

15

Me too

You mentioned forex school on line. They offer a free price action course, and tons of price action video’s also free. Chris Capri also free course and tons of free video’s. I found that Chris really explains his video’s well. Another one I like is Timon Weller. He has a great short term price action video. You can find him by searching his name on utube. I am no vouching for anything these traders are selling, cause they all have stuff for sale. I’m only vouching for free stuff.

Fibonacci, hands down How to Trade with Fibonacci Levels - YouTube
This video in my opinion is the best fibonacci video on the market. It’s free, complete, easy to follow. I still watch it atleast once a week. Just set up the way he tells you to, and follow the rules he tells you about and practice. In the beginning watch it a few times once your set up. I found I learned something new every time I watched it.

This is a great fibinacci video out lineing some advanced strategies. Make sure you watch the top one first. After your comfortable with the top one. Then watch this one. Same thing they both offer paid courses, I’m only vouching for the free fib video’s.

Good Luck
Gp