Awesome article (Treat Your Trading Like a Casino) u have made Johnathon, really so true, so true. U have confirmed all my opinions about the forex, trading and how should a person approach it. So many thanks Johnathon!
Good luck,
Richard
hi all,could aud/jpy be a good engulfing bar ,broke resistance at 82.39,thanks
Hei!
Yes itās a nice engulfing bar, but not the one we are looking for here. If u took this trade, u would be trading straight into the resistance line that I have drawn there.
I would like to wait for a retracement at the red marked area and then jump in after a valid PA signal. It would look like this:
AUD/JPY D1
Remember for whole your life u sell high and buy low and itās not just in forex, for example, if u got a company that buys used cars from people, then u would want to buy the cars as low as possible and sell as expensive as u could. Same applies for other markets.
Hope this helps,
Richard
Hi Garryl33, always post charts mate if you can, it makes it easier to analyse and give feedback on, and also makes a good reference for others reading through the thread 
Right, I presume you are talking about the daily chart here. For me it hasnāt broke resistance yet, if you zoom out you can see price has stalled right at a well respected resistance level that was previously tested on the 11/04/2012, 10/02/2012, 26/01/2012.
Also although you have correctly identified this as a beeb, it does not really stand out compared to preceding candles and more importantly it has formed at a swing high, this is a common thing people seem to struggle with, we need to be buying from swing lows at value, and selling from swing highs for short trades to stack the odds in our favour.
For this pair I wouldnt be looking to short here although it would be from a great level it would be against the recent trend which I donāt do. For me the best setup would be to see price smash strongly through this level, make a nice pullback to this zone and form some big bullish pa for me to go long.
Hope this helps
hi richard,thank you for your quick and informative reply,my gut is telling me this is going up.i think ill set a buy trade for around 83.45,i can see this possibly going back to marchs highs
thanks again richard
Sorry fars I never saw your reply, Iām watching the Olympics so think it took me half an hour to write my reply!
hi juicy
thank you also for your valuable input,i will try to get to grips with posting some charts,dont know if i made myself clear,im definately on a buy trade ,thanks again juicy.
No problem, for me there is way too many points against this trade to even consider it yet, I will be watching this pair though waiting for a value area to go long.
Thatās just me though and nobody knows what the markets are going to do so anything can happen. For me I donāt trade with my gut, I have a plan and stick to it every time, which I have Johnathon to thank a great deal for that.
hi all, hi jonathan!
i have seen in your videos in your website that you used 12hr bars. i found an indicator so i can now use 12hr bars also. my question is, is it also reliable to use Price Action setups to letās say 8hr bars, 12 hr bars, and 2 day bars?
hehe
You have to understand not everyone lives in the same place. Cost of living and purchasing power vary widely from country to country.
Price action works in any time frame. You can use any time frame that you wish.
What is fringfx said is correct.
It helps if you think about what price action is. Price action is simply what traders are doing placed onto a chart for us to see. Wen can start to spot things that tend to repeat themselves and this is because traders and humans tend to repeat themselves.
This is what āprice actionā is on all charts and you cAn trade of any time frame. On all charts your ate simply watching trading behavior pay out. It does not matter if you are on a tick chart or 5000 hour chart you ate still watching price action.
This is also why new traders tend to only focus on the signals such as pin bars and forget the area it is formed and also the reason why I push so much for people to look at the area before the signal! We need to trade from good areas so other traders agree and trade in our direction. You will tend to see signal like pins for example at key levels because this is trader behavior playing out on a chart I,e: traders rejecting a level by buying/selling it the other way.
Safe trading,
Johnathon
thanks for the reply jonathan!
i have watched all your videos. was there a time though that you were making a video of a live setup but then it turned out to be a loser?
iām interested to see trades you made that you lost. maybe you can point out a mistake from it or itās just something that could happen in a trade as you say, thereās no 100% win.
can you post trades that you have lost also?
Hi glenjumilla
Its the weekend and im sure Johno is taking some time off so if I may. Iv been following this thread for some time now in the quiet corner. Johno does have loosing trades as he has stated, why you ask?
Well, its only obvious he has an edge over the market BUT cant win every trade. Maybe fear got the better of the traders out there from some comment, news or whatever reason and people panicked so the market went the other way.
Learn one way and stay that way, be the casino that wins at the end. :33:
Heya,
firstly thanks Ang and that is correct.
I have losing trades and on occasions losing streaks. This is simply unavoidable. If you read my latest article on thinking like a casino you will understand why having losing trades is just something that is part of trading. We can never ever be sure what trades will win or lose because we can never know what all the other trades in the world are doing.
I have also posted trades in here of when I lost.
The things is my losing trades will look exactly like what my winning trades do except for the results. The setups are of the same quality and look the same.
Johnathon
Hello, what u guys think about sell on USD/CAD right now?
Hi!
Sell high and buy low, simple as that. Now tell me what would u be doing if u sold there at the green line?
USD/CAD D1
Richard
Would I be right in saying that would be selling low? Best to wait for the breakout down and then a pullback to the line? If Iāve got the general idea of the thread right trading the breakout offers us a chance, say 50/50, whereas the pullback increases our odds of a successful setup.
Yep thatās right and what Richard is saying above.
