My involvement here at Babypips is about to expand as I start this educational thread about my forex trading strategies and methods.
I have been trading Forex since 2001, and over that time, I have learned what works, and what doesnt work in trading the the forex market.
The only things you need to learn is how to plot horizontal price levels, indentify price action signals, and learn how to use countner trend movement to make entries with the prevailing trend.
I bet you think I’m joking, that it really could be that easy to trade successfully. Let me tell you something else… Did you ever consider that the reason you lose is because you OVER TRADE, your most likely addicted, your like a punter down on the poker machines. Seriously, if your struggling, its time to say ‘ENOUGH’ of this behaviour if you want to make serious money.
You need to cut back your trading, take a step back and chill out. Get used to watching and not trading. every move.
Do you even have a real trading plan? Do you truthfully have a list of trading setups written down, and the basics of how you manage these entries? IF you dont, your not ever going to make it.
I will be posting trading videos and some random articles and trade setups here to help you in your trading pursuits and overall market education.
I’ve only been trading a year, but I’d definitely agree with what you’re saying. This market is like quicksand, the harder you try to make money, the faster you sink. I think traders (myself included) hit a run of losses and then begin to overcomplicate their systems to compensate for a problem that is actually not a problem at all.
I really believe that if a trader concentrated on trading less often, just a few times per week, waited for key price levels and key price action signals, they could really make some serious cash. The issue with all the traders I meet, is that they want to trade every day.
My system is simple, and I am a patient person. Do you see pro real estate investors buying and selling every day? … no! They wait for the opportunity, and take action when it arives in front of them.
Hedge funds and traders are no different, in that we must wait for perfect “price action trading setups” , look for the core trend pressure, and trade according to what we see, not what we believe.
If your a losing trader, chances are, your gambling, or following some form of “casino stlye” gut feel rush.
Time to get real… this is no hobby, this is money here, not a game!.
The first step is to start completely log all trade analysis before you trade.
Write the trade setup dowm. tell yourself all the reasons why, and then find supportive evidence to back up your trade.
More often then not, I simply trade short term trend pressure, usign key price levels to enter on a retrace… it works very very well for me.
Yet so many try to search for some magical system or method…and it’s insane to watch the herds of traders follow these methods.
Want my advice… start to learn to read your chart, and learn how price reacts around key market levels.
Good post. I wholeheartedly agree. It sounds a lot like what I’ve been reading in this book lately, “Forex Patterns & Probabilities: by Ed Ponsi.”
I’ve only been trading live for a just over two months and I’ve already experienced what you and the writer of this book confirm, that if you trade against the trend you are going to get boned.
The last three weeks my trading has really improved simlply by first finding the larger trend, drawing some trend lines and only take trades that go with the trend after a counter trend has been spent and the real trend resumes.
Do you mind if you share some of your basic strategies here and some simple trade setups with charts so that we can understand more about how you trade using price actions.
Hi Nial,
Please share your knowledge here with us so that we can learn some more strategies of trading. Although I had been trading this market for many years, having experience about this market, and trading. Still I would like to learn more and increase my knowledge.
Mav welcome back bro. I love your pinbar setups and the fakey. Im glad youre hear and I definatly agree with your style of price action and alot of people here can benefit from that.
I really enjoy your website which has a plethera of forex knowledge.
Well, how to put it…
I just checked your site briefly and I saw the interview at the trading course section.
I’ve been giving you a hard time here, and after watching that interview with you I realize that I’ve been wrong. You’re a calm and low-key person it seems, and I’ve been on this “learn to trade” journey for a while now, so I believe I’m experienced enough to acknowledge that you’re offering very valid materials and a sound view of trading.
One should not be too proud to admit when one’s wrong, so - I officially apologize for my previous postings about you.
Thanks for the appology, and it would be nice if you could say the same in the other thread, and maybe edit you original message in that thread which bagged me out. No hard feelings and again I appreciate your humble honesty.
I was checking out your website and it really did have alot of great free stuff. I especially liked the episodes of million dollar trader which is not available here in the states. There was also alot of decent content about your price action stratagys.
I hope you will continue to empart your wisdom and experience to us here at bps
Lol, that’s a bit rich isn’t it Mav (Top Gun fan?) after putting that message up on James’s IB thread accusing him of pretty much stealing “your” method and using it as his own. I notice you didn’t respond to his response to the accusation…
You Sir are annoying… thats it… :eek:
Accusing others of steeling, being rough and best of all… you decide what one should do… Yes…everybody wants to work in a bank… why (if you have the knowledge and experience and can trade the market really good), trade on your own, so you make good money, can decide when to work, where to work, when you can work for someone else, with defined times, places and lots of pressure?!
Yes… I really see why one would want that desperately…
One of the major differences between you and james is: he is relaxed and calm and just tries to do the best for his members and people who want to listen… you instead are just looking for trouble and a fight.
Things would be completely different if you would have contacted james via email and first asked him about that issue. But public adherence is the way better solution for doing some advertising for your website right?
hey guys lighten up on mav08 will ya? There is a problem going on here for one i dnt know about james thread but i can tell you as a trader ive been influenced by james and many others and my style may even resemble some of you but i didnt steal it so im certain nobody stole anything. but btw I agree with part of his statement. It must be james has a special arrangement with the owners of this site however he is selling his service here at bps and many good traders have been banned from here like tro which brings me to my second point.
[B]second this website has a million newbie knowitalls and only a small handfull of real (professional) traders. why on earth are you guys chasing nial out of here??? [/B]
Have you looked at his site? It has tons of relevant trading ideas that work in all market conditions. so what he sells a course. maybe even wanted to hear. Im sure he got the message loud and clear now why don’t we forget it and move on.
I personaly don’t know him, I don’t have his course, but I love this site and even though I am no longer what I consider a “baby” at this game I recognize that there is plenty left for me to learn and guys like Nial.
I think this site would be a better place if there were more pro traders and veterans here. Frankly im tired of being the only one just kidding
