Hi Guys, thank you very much for sharing your thoughts, I really value them as I am always looking to learn from people who have more experience than me.
At the end I decided not to buy on Jonathon’s course, I have rather chose to study a book from Lance Beggs.
I am trading on my demo account using things that I learnt from both Jonathon and Lance. As you guys said I now believe that is up to each of us as a individual traders to develop our own feeling for the market and try to make money based on this. However this thread can be a good starting place to build basic understanding how price moves in the market.
There are many great traders on this thread and they are not afraid to share good advice. Keep an open mined and have patients don’t get greedy and you will do fine.
I think what is important is to find something that you instinctively relate to like a lot of people mention when they look at a chart and the setup just comes out without having to look at it for a long time before they see it. It is the same when a long time ago I stumbled across this thread and read what Johnathon posted and that had the “jump out” effect at me.
Just remember that buying a book is a very passive way to learn and your learning curve will take a lot longer. There is no free lunch.
I also trade another strategy and I started following another Trader who didn’t just list out his teachings in text form but has frequent videos he does for free. It was still difficult with the more interactive education aid of videos and that took less time to understand the theories then just reading the first 50 pages here and expecting to be an expert in no time. This is one area you cannot save money sometimes if you want a more rapid education when you discover a particular strategy relates to what you are looking for.
Someone yesterday brought to my attention on another Kiwi trader also offering course but the course was hefty in Price. $2K for a course I think is over the top but some folks still believe the more it cost, the better education you get. I tend to disagree with this concept now having spent a lot more for courses elsewhere and comparing to what I am getting here so far is free and whatever Johnathon charges to another Trader offering a free education! Somehow I come to the conclusion the price of a course is [B]inversely proportional[/B] to the value you get. I am supposing that for a free introductory offer of the first 50 pages here, there would be more to what he teaches which makes sense. How much is the course?
Good luck with Lance Beggs, heard the name but that’s all. Might just do a google.
Just to point out, I think I read a thread somewhere here where johnathan made his last post, before he was banned by Babypips. I guess he was complaint by someone. If I didnt remember wrongly, its around 100+ page of this thread. Didnt verify it myself again, I just know that I have read it.
You can look at his username and find latest posts - 10-20-2014 was last post.
Thank you all for your contributions to the thread! I really wish all the originals were here still going (got to page 40ish). I’m starting to use this method and it would have been nice to have the camraderie with the posters here.
What I always wondered was… if you have a system and it works, do you really NEED to charge folks $2K for it? Why not give it out for free? Then it becomes a self-perpetuating system. I don’t know. I always question why a system that claims to have all of the answers costs so much. Wouldn’t the creators of said system be making enough money to pass along what they are using…
Johnathon’s system did the same thing for me that it did to you…it is very simple to check my charts within minutes. I have my S and R lines drawn. If I don’t see one of the 5 setups I look for near those levels, I move to the next one.
Also, I agree about the book(s). I have read a bunch of trading books and strategy books. Like a Tennis or golf book, everything they teach makes sense but implementation is a different animal. I’ve learned more through demo/live trading than anything else
As you intimated, courses should not cost that much. All the promises are to suck newbies in thinking they have a perfect ATM machine that they can blindly follow to the ‘road to riches’. I trade Johnathon’s method but even that is a LONG learning experience. I ‘think’ the quicker way is to buy his course and you get to learn much faster his methods which is more interactive? I know personally I cannot just sit down in the library with a trading book, read it a few times then the “skills” magically appear in my head as I flick the charts. I have to constantly refer to a method with lots of practice and unless one is a quick learner, it is a steep and long learning curve without a mentor. That is why even pro Tennis/Golf players still use a coach? Or maybe that is why those at the bottom of the heap in the golfing world did not succeed because they were still doing the reading in the library then practice? Sorry just being facetious!:22:
Like yourself, I like simple and no frills. That does not mean simple is unsophisticated as I imagine a lot of newbies will have first impression. I can relate because I started Fx in the world of Bolly bands, MACD, Stoch, Fibs. In fact I came across another Quenslander that is offering a simple freebie tool from his teaching services of a combo of Bolly, MACD and Stoch! Wow I thought as he went through examples of simple divergence and bingo the profits started apearing. How come I did not have consistent success was my first impressions. Then as he went through the ‘examples’ you can see it was cherry picked coz by showing a long and a short profitable trade, he missed the in between 2 losing trades! Just brings back experiences of inconsistent performances. In all fairness it was probably my trading skills the problems as it is easy to blame the tools. I thought I had Snap on instead of Kmart special! HaHa
I am looking for a gold pull back to find a trade. This is a strong breakout but sooner later price will rotate back down unless ensuing wars starts! Good luck
That’s the trouble Joe they do tend to cherry pick examples to suck in the newbies don’t they. I hadn’t heard Jono had been banned ,wondered why he hadn’t been around ,like to know what he said ,must have been bad.
There is a lot of free stuff here and you will need to be patiently learning as the learning curve can be very steep. Either persevere or fork out the small dollars to quicken the learning through him. Those are the choices if you want to learn his method of trading. I have put a lot of effort into his method and still learn through my trading every day regardless of how long I have used the method. A lot of effort getting to this point and no doubt a lot more to learn.
This is a setup I did not take on that 2 bar reversal as I was involved with another similar cross pair. Solid trade I think with lots of space to move up.
Thanks Joe! I’ve been reading about Forex for a month now, I’m in high school here at babypips - been staying home 1 day a week to work on trading, looking for a system/method that suits me. I really like the simple price action type trading - have had a lot of success (demo) so far with it.
Looking for confirmation with my s/r lines. I put the pip value next to the pair I’m looking at. (Sorry, no charts ) I know s/r aren’t to the pip, but a range, so seeing if I’m in the ballpark… hopefully in the infield…
On 1 day charts:
USD/JPY (122.56) looks like it’s at support now.
EUR/USD (1.1238), NZD/USD (.6620) and GBP/USD (1.5685) all seem to have just broken support yesterday/today’s candle.
I wish I could make post like this when I was in ‘high school’. I also wish I had such passion for big boys venture at such a young age :35: Just reflecting when I first started in FX and I came from a stock trading background albeit part time back then.
At this rate you will be a pro trader before I had finished my ‘Uni degree’ in comparison. Good inspiration to reflect. Every day a high school learning experience for me!
He was banned for pushing his website address in the Location header despite being told several times not to.
Anyway, don’t want to get deep into any speculation. I don’t follow this thread much, but everything I read from Johnanthan seemed okay. Over the years I’ve modified “price action” to suit my own style of trading.
Snap Joe but whereas you got him on the way up I faded him on the way down for a hundred pips, certainly was a wild ride today wasn’t it. I quite like fading these big moves.You have to watch yourselves these days don’t you Joe.
Nice one Buster, the ‘fader’ that held was clearly the winner. I actually wanted to look for a fade as price reversed back up but that would mean waking up to see what happen while I slept. It curiously hit the 50% fib then rotated back down and bouncing off that 1H candle base. Not the typical PA talk here so I shall say no more.
Momentum wise I still see this as bullish time being intraday or daily and will be looking for another long play if I get the setup.
) I know s/r aren’t to the pip, but a range, so seeing if I’m in the ballpark… hopefully in the infield…