Forex Price Action

[tonyro44]

raylpz88 just go slow and steady , no greed, be patient and always have a plan for each trade, your going to do fine.

hi tonyro44,

thanks a lot tony, you make me more confidence with this price action and i am going to master this price action as you said it is a good start to great future.

ray

[raylpz88]

raylpz88 just go slow and steady , no greed, be patient and always have a plan for each trade, your going to do fine.

yes Tony, will do it, since many people n articles say risk management and patient is critical aspect in forex

[raylpz88]

raylpz88 just go slow and steady , no greed, be patient and always have a plan for each trade, your going to do fine.

hi Tonyro44,

there are few things i am really curious about Forex, sometime my curiosity makes me hesitate to lean forex, worried if it is not worth to learn it. I would like to ask you this question because i believe you can give a good advice, if you don’t mind of course, I understand if you mind to answer these question.
my question are:
-do people who trade for life exist?
-do they have a sufficient money to support their family?
-do they really have freedom of time? (some claim they only spend few hours a day on forex and that’s enough)
-what percentage profit per month can be said a good trader? (some said 5-10% profit per month is enough, targeting more leading to risky trading)
-some said if we trade on h4 and daily time frame we only trade 5-10 trades per months and that’s enough, it sound like almost do nothing for the whole month. is this true?

thanks
Ray

[tonyro44]

all the questions you asked , you can answer them your self. I will help you answer them and you decide if this is for you…

hi Tonyro44,
1 ) there are people that do live of FOREX.t
2) Yes they have money to support their family other wise they can’t live of it.3) The time spent depends on you and who you trade to make the best use of your time. 4)Realistic per month profit is about 5/10 % with out taking mayor risk. The 4hr 5-10 trades a month depends on you way of trading. All that has been said is true, this is your own business and you mold it the way you want to run it. My take , when you learn what you need to be successful,you know the kind of money you need monthly to live on . Now you build up your account to get there with out to much risk. Now your ready to quite your job. I can not tell you how long that would take because everyone learns different and the kind of money your going to put to risk.This is not a one size fits all and there are no short cuts either. Ok raylpz88. really curious about Forex, sometime my curiosity makes me hesitate to 3 )lean forex, worried if it is not worth to learn it. I would like to ask you this question because i believe you can give a good advice, if you don’t mind of course, I understand if you mind to answer these question.
my question are:
-do people who trade for life exist?
-do they have a sufficient money to support their family?
-do they really have freedom of time? (some claim they only spend few hours a day on forex and that’s enough)
-what percentage profit per month can be said a good trader? (some said 5-10% profit per month is enough, targeting more leading to risky trading)
-some said if we trade on h4 and daily time frame we only trade 5-10 trades per months and that’s enough, it sound like almost do nothing for the whole month. is this true?

thanks
Ray

[raylpz88]

all the questions you asked , you can answer them your self. I will help you answer them and you decide if this is for you…

thanks a lot tonyro, really appreciate it

[FxcInvesting]

GBPJPY Daily timeframe. BEOB at resistance. Will someone trade it?

[toosmart]

Just waiting for right signal guys…

[raylpz88]

I trade this on demo account, what do you guys think of it?

[Pingback]

@raylpz88

hi, everyone,

below is NZDCAD on daily TF.
I found an obvious BP, and also at a good key line, it has space for price to go up, yet it is counter trend, what do you think?

Ray

Was looking at your chart on past charts, and it looks like there was a pullback then drifted sideways then had a bull trend for about a week. When I look at a chart I look at the most recent data. I am not a psychic and don’t claim any paranormal powers. Without looking at the fundamentals, it was close on the daily. Could have made some pips on the pull back. Also since it was mostly sideways after the pullback could have went long on the trend. That’s one thing I notice about FX is the moves can happen suddenly, you have sideways movement then you have a bull trend, then a bear trend then sideways movement. It’s up, it’s down, it’s sideways. Trying to catch the moves or bar direction happen quickly, so, confirmation is a good thing!

[Mistah_Kurtz]

Hi Johnathan, great thread! where are the 50 pages you are referring to? Are those the links below or is there an actual file? thanks

[raylpz88]

Hi Johnathan, great thread! where are the 50 pages you are referring to? Are those the links below or is there an actual file? thanks

hi Mistah

I don’t think johnathon is here anymore, you can find his last post on his profile it was a long time ago

ray

[raylpz88]

hi Pingback

thanks to share your point of view. may i know what kind of confirmation are you talking about?

Ray

[raylpz88]

Just waiting for right signal guys…

Hi toosmart

what kind of signal are you waiting for?

ray

[raylpz88]

@raylpz88

I trade this on demo account, what do you guys think of it?

it is going up. the pinbar low was never break (it was break a bit, but I use buffer so i consider it wasn’t break) but the pinbar high was break. it is not a valid pinbar then.

ray

[raylpz88]

another trade I take, I am using price action to set entry trigger, it is not triggered yet.

ray

[raylpz88]

@raylpz88

another trade I take, I am using price action to set entry trigger, it is not triggered yet.

ray

too bad, I lose this one, the price hit my trigger then go up and never cross my entry level, eventually hit my SL.

not sure what was wrong, maybe:

1. there is minor support at the entry which the price couldn’t break it even though the PA says very bearish. (but many times i see small PA with minor SR near it, yet it make a good trade)
2. the trend is about to changing from down to up trend (that’s mean it was counter trend)
3. sometime even A+ set up will fail.

I think the best answer is no2

what do you guys think?

[tonyro44]

There were big news on NZD so it made big moves, what ever your using is not going to work when that happens. Best thing to do is wait until the news is over see whats going on before going in.

@raylpz88

too bad, I lose this one, the price hit my trigger then go up and never cross my entry level, eventually hit my SL.

not sure what was wrong, maybe:

1. there is minor support at the entry which the price couldn’t break it even though the PA says very bearish. (but many times i see small PA with minor SR near it, yet it make a good trade)
2. the trend is about to changing from down to up trend (that’s mean it was counter trend)
3. sometime even A+ set up will fail.

I think the best answer is no2

what do you guys think?

[raylpz88]

There were big news on NZD so it made big moves, what ever your using is not going to work when that happens. Best thing to do is wait until the news is over see whats going on before going in.

thanks again Tonyro44. its good to hear your advice

[raylpz88]

hi all
what do you guys think about this?
down trend seems over when price cross trend line, then starting its uptrend. at intersection between daily support n up-trend line the price form a “2bar reversal”

I welcome any comment and discussion.

ray

[pil0t]

Hey guys (and girls?)

I am new here ([B]but not new at forex[/B]) but I have been following this forum for couple of weeks now… I was suggested to pay attention on this thread as it is promising strategy.

Could you advise me where to start reading and learning this strategy because 2100+ sites is a LOT to read? I will be really grateful for any advise, suggestion, whatsoever.

Cheers!