Forex Price Action - Page 1363
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  1. #13621
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    Quote Originally Posted by marketdeal View Post
    at johno,s site and see a USDCAD D1 trade johno posted a while ago in which the PA signal was occurred at a very right resistance area on a D1 chart and it was a perfect A+ trade but the only problem was it was trading straight into the VBRN of 1.0000 and later price found a strong support at 1.000,price turned around an hit the stop loss.
    I remember that one too well

  2. #13622
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    Quote Originally Posted by Pips Ahoy! View Post
    i agree with you on this. 3-5 a+ daily chart setups per month with some weeks going without a trade (this according to the master) is just not going to happen for someone new to this. it's not cut and dry that newbie and seasoned trader alike will catch all of these trades together, adding to this people's daily routine etc will also mean missing some of these important opportunities

    most of the time it's a matter of the newbie catching the trade but getting stopped out while the experienced trader will catch it and make profit. the losing trader will be affected psychologically from the loss which further impedes progress

    for many newbs it will take more than 3 months before going live. i think this goes for most trading methods?
    I think you may have missed that one a little bit......

    It will take people all sorts of times to become profitable and I would be bloody amazed if anyone come from nothing to profitable on three months. It took me a few years let alone months! Not only did it take me years, but all sorts of different experiences and scenarios and money! I guess a lot of this can be cut out for others now because I can pass on a lot of this so other don't have to go through it themselves, but still they will have to go through some of their own own ups and downs.

    But the three month rule is not three months from start to finish. It is; Traders should stick to trading both demo & daily charts until they become profitable period. Where they three month rule comes in is they should not go to a live account until they can trade a demo account and make a profit three month in a row. So this is now three random months, but three straight months.

    Make sense?
    Last edited by Forex School Online; 09-29-2013 at 08:43 AM.

  3. #13623
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    Quote Originally Posted by marketdeal View Post
    If you win that,s your money and even if you will loose that,s your money))I am just giving you a neutral advice and there is no ego involved here.I know plenty of cases where price in the past have shown no significance at a particular BRN or VBRN but price turned around because of the BRN or VBRN.With knowing the importance of psychological numbers and placing your trades right into them is more like a gambling.Please go through the charts in focus section at johno,s site and see a USDCAD D1 trade johno posted a while ago in which the PA signal was occurred at a very right resistance area on a D1 chart and it was a perfect A+ trade but the only problem was it was trading straight into the VBRN of 1.0000 and later price found a strong support at 1.000,price turned around an hit the stop loss.
    It's good to know, and don't take my skepticism wrong, I like to question and discuss things like this and hopefully figure out its validity. I completely understand what you are saying, and I agree there can be power in BRNs and VBRNs. It just feels like avoiding a number without price action to back it up goes against what it means to be a price action trader, which is trading the price story.

    Since Johnathon posted that USDCAD trade on his site, I am guessing that he is ok with trading into BRNs and VBRNs as long as there is no previous SR at that level. So is this a rule you personally adopted? I am just trying to figure out if this is something you are personally doing, or if it is a part of Johnathons rule set.

  4. #13624
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    Quote Originally Posted by krugman25 View Post
    It's good to know, and don't take my skepticism wrong, I like to question and discuss things like this and hopefully figure out its validity. I completely understand what you are saying, and I agree there can be power in BRNs and VBRNs. It just feels like avoiding a number without price action to back it up goes against what it means to be a price action trader, which is trading the price story.

    Since Johnathon posted that USDCAD trade on his site, I am guessing that he is ok with trading into BRNs and VBRNs as long as there is no previous SR at that level. So is this a rule you personally adopted? I am just trying to figure out if this is something you are personally doing, or if it is a part of Johnathons rule set.
    Apparently it's not as clear as what I thought it was.... That section of my site is only a market commentary. I don't personally take those trades. I post setups in there every single day after the market has closed 5 days a week and there are some very average setups some days, but I still post them up. I would not post them up if I thought people actually thought I was taking them myself. I personally only trade the very best setups and these do not form 5x a week obviously.

  5. #13625
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    Quote Originally Posted by Forex School Online View Post
    Apparently it's not as clear as what I thought it was.... That section of my site is only a market commentary. I don't personally take those trades. I post setups in there every single day after the market has closed 5 days a week and there are some very average setups some days, but I still post them up. I would not post them up if I thought people actually thought I was taking them myself. I personally only trade the very best setups and these do not form 5x a week obviously.
    It's still begs the question, is what market deal is describing a part of your rule set or not?

  6. #13626
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    Quote Originally Posted by Forex School Online View Post
    I think you may have missed that one a little bit......



    But the three month rule is not three months from start to finish. It is; Traders should stick to trading both demo & daily charts until they become profitable period. Where they three month rule comes in is they should not go to a live account until they can trade a demo account and make a profit three month in a row. So this is now three random months, but three straight months.

    Make sense?
    I'm glad Johnathon wrote this,it amazes me how people write "don't trade demo but live as demos just not the same",surly if you cant be consistently profitable on demo how is trading live going to help,perhaps they think live will make them try harder I don't know,its just demoralizing,so I think stick to demo until you feel you've got a grip on it for as long as it takes even if it 3 years or more.

  7. #13627
    tonyro44 is offline Superior Master Contributor and Member
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    Good morning from USA west coast fellow to all you great traders, another great week is starting.

  8. #13628
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    Quote Originally Posted by krugman25 View Post
    It's still begs the question, is what market deal is describing a part of your rule set or not?
    If your not careful I will have to get you to go back through the first 50-100 pages JK

    VBRN's take into account always regardless if there is support or resistance or not. The 1.000, 1.4500, 1.600, 0.900 etc for different pairs.

    BRN's I need to see S/R at least minor to take into account, but if it is just minor, then I will take into account, but some people have taken into extreme and then they can never make a trade because there is a round number with every trade.

    The best way to do it is when marking support/resistance is I will normally look for the closest round numbers or big round numbers. So if I was going to put my support level at 1.2039 for example I would then slide it up to 1.2050. All my charts are set like this to the round numbers if they can be out of habit. Sometimes it can't work, but most times it does.

    Johnathon

  9. #13629
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    Quote Originally Posted by Forex School Online View Post
    I will normally look for the closest round numbers or big round numbers. So if I was going to put my support level at 1.2039 for example I would then slide it up to 1.2050.
    Johnathon
    Very clever.
    I'll implement that too.

    Cheers

  10. #13630
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    Quote Originally Posted by Kasravi View Post
    Very clever.
    I'll implement that too.

    Cheers
    yes I did'ent think of that ,good eh

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