Price action!

M not saying I’m a expert I’ve been trading for a few months… I’ve set this up so I can talk to others that trade based on pa, S/R zones

I’m currently learning. Been studying forex for 3 or so months and, from what I hear, PA is the best way to go. I’ve been getting mixed results. My larger profit days are those where I trade pin bar set-ups on either the 4hr or daily charts.

I’m not going lie, I haven’t had much luck with any other set-ups other than pin bars.

What’s your strategy? What set-up(s) do you trade? Maybe you could share your experiences and possibly some tips?

I trade mostly PA as for me I have earned the most consistent returns with it.

I trade all the pairs it just depends on what the charts telling me, are you using a clean chart or do you have any indicators? I started off with no indicators but I’ve found that moving averages and the stoch help me ALOT!!

Naked PA is traded by many people, but its also a good idea to use something with it for a filter. Hopefully to keep you out of some bad trades but its up to u to find which works best for your style.

Price action is a very interesting topic. I have been a price action trader for almost 5 years now.

DO u trade naked charts or do u use some kind of indicator along with it?

[QUOTE=“Fx89;703356”]I trade all the pairs it just depends on what the charts telling me, are you using a clean chart or do you have any indicators? I started off with no indicators but I’ve found that moving averages and the stoch help me ALOT!![/QUOTE]

I use price action, but also USE two EMAs, macD and RSI. I don’t necessarily use all of them before making a trade, I just use them to support my decision from price action.

As I’m still learning I can’t really share any detailed results as they differ depending how often I mess up etc

I think that you are on the right track by sticking to the daily and 4-hour charts. Do you have any specific questions that it would be helpful to ask to guide this thread a bit more?

The two biggest problems I have are:

  1. Finding realistic and appropriate stop losses and profit targets. I have suffered both the ‘get close to TP then reverse’ and ‘fill take profit only to watch it fly past’ scenarios… I’ve also set my stops too close and been stopped out only to watch the stock reverse and go in, what would have been, a huge profit.

  2. The other issue I have is news. At the moment, I check for upcoming news before I place a trade, just in case. There’s been a couple of times I’ve been stopped out because of news.


Okay, well problem number two first, because it’s the simplest. You’re really best off just ignoring the news. If you can really master reading charts, the price action will tell you what to do. I fell into the trap (as i think most traders do at some point) of thinking that the more i understood about economic happenings and influences all around the world, the better my interpretations and predictions would be and the more success I would have as a trader. But that failed me miserably. Maybe you’ll think, “why is this currency getting stronger when they have such awful reports of impending doom coming out?”, etc. It makes no sense. Just trust me, [I]trust the price action.[/I] I never look at the news any more, and I have never been more accurate in my trading than I am right now.

As for the first problem, if you look in the thread in FOREXTOWN where people list their blogs, I have one there on page 48 (there are only 6 posts in my blog so it’s not too big yet, and most of them deal specifically with S/R, pinbar or rejection candles and what they mean, and some other price action basics), so feel free to check that out. Also, on another thread, I just responded to someone who was having the same issues as you are with setting appropriate stop losses and take profit goals, that thread is: 301 Moved Permanently (not to be lazy, I just don’t want to type it all out again). If you ever want more specific help, feel free to PM me, it might take me a day to get back to you if i am not online at the moment, but I like to help (every time I help others I feel like my understanding deepens) so the offer is there.

Thanks, your post on that “how many pip should be practically targeted on a trade?” blog is very interesting… I couldn’t find your blog on page 48 though!

I’ll send you a PM as I have a question that you may not want to answer publicly…

On second thought, I haven’t made enough posts to be able to send private messages so my question will need to wait!

I should have just provided the link like i did for the other one, here it is: 301 Moved Permanently (mine is on page 48…hope to hear from you when you get your posts up!)

I’m interested in this thread, and I also trade price action. I actually just started a price action blog this week as well!

Using price action in your trading is the only thing you need to become a profitable trader, I was after a lot of indicators and I have a huge collection of many trading systems as well but price action is the only system I used now a days.

Yes price action will hep you to spot trade faster and easier than all this indicators

I am in trading for two years and a half and trading Price Action for almost two years. I have read tons of threads about PA, a lot of articles, until I have discovered the last three books by Al Brooks about Price Action and a new Price Action universe has shown… After more than 6 months I am almost done with first book as they are awfully hard to read and understand.

At this point, after two years and five months in trading I manage to get to breakeven.

I highly recommend Al Brooks books if you trade Price Action


Day chart


What do you think about that trade??