Thank you for the information 
Write it on a sticky-note and post it on your wall kids.
Hi guys!
Im trying to learn price action using forex tester 2. One problem I have found is that I donĀ“t know what to do when price is at all time high, then you lack the resistancelevels used in this thread. same problem for all time low ofc.
Any advices?
That is when you have to stop and think. First how strong is the pair going forward ?? are there any strong news coming out that will affect it? is the volume starting to fall ? a few other things. I just look around and see if there are opportunities else where.
Hello, I am confused on how to read this thread, it says read the first 50 pages but thereās only 2 pages of teaching and the rest are random people posting analysisā
Are you supposed to just navigate through the quick links? Thanks in advance
What do you think about using this price action strategy on the swiss franc (CHF)? it moves different from other currencies and im thinking of how well this strategy plays out on that pair. What is your experiences?
Best regards
How would you say the CHF moves differently. I think all pairs might have the quirks, but when all is said and done, price seeks liquidity, every pair, every market, price goes to where the orders are.
After my observations it seems to move in consolidation more often then other currencies, with less moves then most other currencies. But I have not done any further investigation on this except for my own observation. I guess you have a point with all pairs having some differencies but demand and supply still lead the price! Thanks for your input.
The swissy pairs definitely have their own personality. Lots more rangebound price action before you get some big moves, then back to range.
Look at how the candles bunch together on all the Swiss pairs.
Iām going to go ahead and bump this thread. It is, afterall, the best thread I know of on Price Action. Really wish Johnathon Fox wasnāt gone. He was a very valuable asset to this site.
Anyways, let me go ahead and add a few other things:
Nameās Paul and Iāve been learning about Forex for about 5+ years now. Despite the length of time of my learning, I still havenāt made any money trading Forex. Iāve just recently started trading live money. This is only because my uncle who works for NASA noticed me on Facebook talking about Forex. None of my Facebook friends were really interested in my post but my uncle and his wife apparently were. They both talked amongst each other about my endeavor and later on decided to offer me a lump sum of money to get started in trading.
At first I was very flattered but turned it down. I told him I am not comfortable trading other peoples money. Turns out he was just [I]giving[/I] me the money for myself to trade - no strings attached.
SO - Iām trading real money. I felt itās time to get serious about learning Price Actionā¦ even though Iāve been studying Price Action for a few years now.
Once I started trading this money - I quickly realized that I am not nearly as in control of my emotions as I had originally boasted to myself. I took trade after trade that was not in my trading strategy and had no price action to support itās validity. These trades all ended up losing me money. After the first few trades lost me money, all I was doing was ārevengeā trading in order to get the money that I lost back. This only led to more losses.
After so much stress, I am now hereā¦ back to the forum to educate myself on Price Action and to take this more seriously.
What I really want is to build a solid trading strategy.
The problem is that I have several different ideas on what I want to trade.
Here are the main options that I am unable to currently decide between:
1.) Trade Daily and 4-Hour Timeframes:
Trading Wedges (retests of wedge tops and bottoms as well as breakouts/retest of wedge after breakout).
Trading Channels (retests of channel tops and bottoms as well as breakouts/retest of channel after breakout).
The trading signal I would be using for the testing of the wedges and channels would be Pin Bars only.
Support and Resistance trades using Pin Bars as the trade signal.
Trend line trading - Pin Bars
And lastly - Dynamic Support and Resistance (EMA 10, 20) using Pin Bars as well.
2.) Trade 10 Min Time Frame (Scalping):
Trade ONLY Bearish and Bullish Engulfing Candles at Psychological levels such as 00, 50, 70,80 (I may just want to stick to 00 and 50). Trade BEEB and BUEB at Key Support and Resistance levels as well as minor S/R.
10 PIPS per trade.
10 PIP SP/TP
The reason I became interested in Scalping the lower time frames to begin with was because this is what the person that introduced me to Forex doesā¦ and very successfully.
He showed me how effective it was and made $16,000 right in front of me just doing thisā¦ it was so simple watching him do it.
But for some reason, through the years I was turned down to scalping by others saying that it is something that can ruin your account. I actually believed them - EVEN THOUGH I actually knew someone that made a dam good living do itā¦
Long story short, I am trying to find my niche and itās difficult.
I am a very impatient person when it comes to this. This is mostly due to the fact that I have virtually no time to trade Forex when I get home from work. I am typing this at work, if that gives you any indication (And no, I cannot trade while at work).
I have only a couple hours to trade while at home and so itās about a couple hours a day to look at the markets and make trade decision before my time is up. I have set up my Trading View account and have made several accurate predictions using Price Action ( Trader SubTh3ory ā Trading Ideas & Charts ā TradingView )
I just have ALWAYS been at work when the opportunity happened.
This has led me to look more closely at the 10min time frame and possibly choose my second option.
I came back to this forum and got overwhelmedā¦ thereās literally thousands of pages to go through. I know most of the information is in about the first 50 pages - but I am curious if anyone here knows if there is much on scalping lower time frames in these pages.
I would like to think that all Price Action can be applied to any time frame but I donāt want to assume that.
If you are a fellow scalper and/or know a bit on scalping - I could use your assistance.
Let me know who all is still visiting these forums!!
I think itās pretty interesting that as someone who doesnāt have that much time at night, you prefer to go into a [I]smaller[/I] time frame rather than a [I]higher[/I] time frame. Scalping in general is fine, IFF you are okay with going to bed at the end of the night with nothing. I suppose it depends on how picky you are on your entries, but when it comes to scalping my thoughts on it are to be super picky. This may or may not be a big deal, but if you have psychological issues (which sounds slightly mean but a lot of people have issues that they arenāt aware of until they start trading with real money) it could cause you to take entries that you donāt want to.
All in all, I feel like impatience is much more punished in scalping than in higher frame trading, because your margin for error is a lot smaller. If youāre still interested in scalping, PA theories hold decently up down to the 15m from what Iāve noticed, although it depends on how much information you use to trigger into a trade.
Yes, I prefer to go to smaller time frames. 10 Minutes to be exact. The reason is fairly simple - smaller timeframes give more trading opportunities much more often.
When I was trading larger time framesā¦ I didnāt trade. When I did, it was always bad trades because most of the opportunities for trades happened either while I was at work or when I went to sleep. Perhaps you see why trading larger time frames becomes virtually impossible while smaller time frames gives me more opportunities.
If that doesnāt make sense, think of it this way - I have a small window of about 2 hours in one whole day to look at the market, find a trade and trade it. When I was trading 4-hour and Daily TF, just about every single opportunity happened before I got home, which means my Risk/Reward is ruined and have no reason to get into the trade any longer, or every opportunity happened while I was asleep, which means I would be getting into a trade prematurely.
Yeah, some trades happened during that 2 hour window, but as rare as it was, I had more problems with temptation and patience than I am having with smaller time frames.
At least with smaller time frames I am confident I will eventually see something materialize while Iām there.
Also, to comment on your statement of āIF you are ok with going to bed with nothingā - I donāt want to assume that youāre saying scalpers donāt make moneyā¦ Because thatās obviously false.
Youād have to go through quite some loops to convince me that scalpers donāt make money - especially being that I know one who does in real life.
There are many style of trading , they all have their good and bad things and thatās why you choose which one or which ones are better for you. I wish you the best because i know you will make it work for you and there are traders out there that most of their trading is scalping.
I think I shared your problem a bit when I started. I work a 9 to 5 job on EST so while i am at work I miss most of the active periods of the day. I also sleep during the London open and donāt wish to wake up early trade. I started out trading only during the Asian session and staying up late but I found that I didnāt want to spend so much time in front of the charts. It sounds like your method requires a lot of timing and you have only been executing market orders. Maybe consider setting up limit orders that can trigger while you are asleep and/or at work on larger time frames. This is what I have done to adjust to my limited chart time and I have liked it a lot. Good Luck to you and I hope you find a method that fits your needs.
Itās not that scalpers donāt make money (believe me, I know scalpers who win so consistently and so largely that it looks fake), but rather that the type of scalping you employ may not grant opportunities to trade within a 2 hour window. Personally, even if I trade the 5m, thatās 24 bars, which isnāt enough to create a trade - it would have to be already in the making and Iād just get lucky with it like I would if I was trading a higher frame. If your backtesting says that youāll get a good entry (or many good entries) than you should [I]definitely[/I] go for it.
I honestly donāt know how to set limit orders. Iāve had people talk to me about them but couldnāt quite understand how it works. If Iām going to implement limit orders, I will have to build that on my strategy. Iām not sure thatās what I want to do.
My strategy simply requires major trend lines, major and minor Structure support plotted from Daily Charts as well as wedge and channels plotted from 4-hour and Daily charts. I look at about 15-25 Pairs and plot said areas for each of those pairs and do an analysis while Iām at work to see which ones are getting close to these areas. Once I get home, I can simply go to those pairs and drop down to the 10minute time frame and wait for a Bearish or Bullish Engulfing at Psychological levels.
The amount of opportunities for this amount of pairs and this many parameters is usually more than enough for me to make about 50 pips average in one day. This is more than enough.
Iām just getting used to the size my lots need to be in order to make sure I donāt risk too much of my account.
Right now I am only trading 1,000 units on average of my $500 account which usually ends up being about $1.00 per trade. $5.00 average. Thatās not much money at all, but when I see that my strategy is consistent over a 6-month period, I plan to give myself a raise. 
I had mentioned before to pay for the trade 2 to 3 pips no more for scalping and the pairs should be those that have high volume . EU/USD is an excellent one to trade along with a few others.
What do you mean to āPay for the trade 2 to 3 pipsā? Should I set my TP to 12 or 13 instead of the usual 10 to compensate for the lost pips from the spread?
Yes 12/13 pips is fine, however a scalper usually go from 5/10 , those are the ones that go real strict . When i scalp and the pair is going strong my way , i just let it run.