What’s FSO? A forex boy band?
FSO means Forex School Online, Jonathan’s course. sorry for the confusion
Im not a member. And I dont think I want to be since I have a unique style in trading and I have a lot of restrictions in my trading. I just hope I would be profitable in the long run. Im doing good so far. I would bank on this for now. If I just joined forex and really lost I would take the course. It would save me a lot of money. The thread is solid and legit. What more the real membership club would be. Most of the members helping here in the thread are, I believe, members of the big boys club. Learned a lot from them especially from this thread. My style depends on this concept a lot. Im not promoting his website, just have a great respect for the guy.
I am a member and genuinely cannot speak highly enough of both Jonathon and also the forum/course. There is a daily set up thread, an intra day set up thread, a senior trader only thread (which is pure gold) as well as several others that are all great, any questions get answered by a senior trader within hours if not minutes, Jonathon is very active in all thread on a daily basis and responds to emails within a day 99% of the time.
the course itself deals with way more than the free stuff Jonathon gives away on his site and in this thread and there is also a real focus on trade management which is the hardest part of the technical side of trading. There is also alot of focus on the psychological side of things which is usually what makes or breaks a traders success.
In short it is likely some of the best money you will ever spend.
Disclaimer - I am in no way affiliated with FSO and purely just a standard member trying to make my way though to a consistently profitable trader. I do not stand to benefit in anyway from this review apart from being glad to give back to an awesome mentor and the FSO trading community.
Cheers
Andy
hi,
you are going long trade is against a downtrend momentum,its just a retracement,better look for short trade.
Was that “derogatory” remark really necessary !
Thoughts on aud/chf?
Looking at 4h it pierced a support with the nose.
I see it’s just below the 9700, but looking at the last time it went through 9700 on the up move, it went through casually like there was no resistance.
Looking at the daily it shows a beeb.
Here is my outlook on that. May be or may be not a bearish PA at the level. O bullish at the middle of the pin
I’m glad this trade was taken by folks on this thread. This was a perfect example of everything J is trying to teach. Trading with the trend, waiting for a pullback to a relevant zone and waiting for PA to get in.
Nice job to all that took it.
I took this trade instead of the EUR/AUD. I just liked the space of the EUR/NZD a bit more. Slightly trickier than simply trading with the trend, but can be profitable once mastered over time.
This pair is range bound and price has reached the bottom of the range and printed a large BUEB. I will look to move to BE @ 1.58000 and full profit at the top of the range.
Here is the chart just after the BUEB closed for the day. Good luck to me!!
REQUEST TO FOREX SCHOOL ONLINE:
Hi Johanthon,
Would it be possible to post (and the end of every month), a list of the A+ trades (daily and 4hr) that were taken by you or another senior trader linked with FSO - including winning and losing trades? The list would simply include the currency pair, the date and the setup (PB etc).
This would be great for all junior traders as we could compare our respective trading journals with the trades on the list and would help refine my thinking when it comes to chosing certain trade setups…
Thanks
i’m really interested in why is it that you guys dont use fibonacci levels at all, not even to confluence. Instead you draw, what i would call rather subjective, in some cases res or sup levels that, i have noticed, hinder you from placing excellent trades? This is more of a constructive criticism
I quite like this idea Dobo, but it does have one small drawback. There are some advanced strategies played that obviously J has to hold back for the private members.
As I’m sure you’ll agree, out of respect for those that have paid for the course he/we can’t divulge everything here. So those advanced trades can’t be posted in this thread.
However once a trade has passed that fits the criteria of the basic PA taught/traded in here I’m sure we can throw the odd one up. Losing ones as well.
For instance the USD/JPY on the H4 a couple of days back was one that was taken by Seniors and members in the forum. As you may have seen I just posted up the EUR/NZD trade I am currently in, I think a few others are in it too.
I’m sure we can throw a few good examples out there for you.
Oh just remembered that Silver PB on the D1 was also taken.
I used to draw fibs but use them only sparingly now and find I don’t really need them so much in my daily trading.
Occasionally I throw the odd one out when playing a pullback and what do you know? Most times my marked zones they end up being a 50-61.8% on my fibo level.
I’m sure you often find the same as well.
Hi bhops,
I am also eying at both EURAUD and EURNZD. I agreed that EURNZD has more room to the resistance. However, the last daily bar is too big for me (about 200pips). If I Long at high of 1.5710, then the SL will be 200pips! Thus I am waiting and expecting for an intraday retracement to get in at a bargain price to reduce the SL. The result is that I miss the trade! You are now at a good profit of more than 70pips! Good luck!
Regards,
Toyogo
One question. Why is 200 pips ‘too big for you?’ To me when it comes to price Action the bigger the signal the better.
this is a good example, @dobo, look how it all fits like a glove. also, im not sure if thats a valid pin according to ur guys method, so pardon my posting just to remind dobo of the importance of fibo lvls especially when in confluence. edit: dont mind the jun of 2005 writing on the right…this is my historic simulator script on mt4
Yeah just looking at this chart I think you have a few additions to your trading method not taught here.
We wouldn’t bother with stochs, wouldn’t trade fibs arbitrarily, but rather only if they line up with a S&R zone we think is relevant and J does place a huge importance on the quality of the PA.
The PB is valid but too small to trade from the perspective of what he trying to teach.
However as well know there are about a bazillion ways to skin a cat in this game and it seems like you have found a methodology that works for you.
i love your guys method, i just think, from my experience so far that fibo lvls are the very essence of technical an. along with price action and i see none of it in this topic. Stochastic, I dont bother much either with lately, based on my exp with it lagging behind like all indicators .PA is an absolute ruler, but not without fibo im afraid
And that is your opinion and you are completely entitled to it and it clearly works well for [I]you.[/I]
However on the flip side I trade PA off horizontal S&R zones and hardly ever use a fib and I do really well this way. And Johnathon I know has been super successful trading the same way.
In fact to even extrapolate that out a bit, there were a couple of American lasses Jocelyn and Tess who were professional traders with a private institution from memory. They started the excellent ‘Technical Templates’ thread which actually gave me my first initial insight into PA trading and they tended to eschew fibo’s as well as not being needed. They did mention their brother did use them, which just goes to show that it’s different strokes for different folks.
So to come back to your last statement that PA rules, but not without fibo’s, I don’t find to be necessarily correct. You use them and clearly believe in their importance which is great.
Johnathon doesn’t rely on them so much and has great success without using them, which is why I guess when he started this thread because he wanted to show people the basics of how [I]he[/I] trades PA.
Of course traders are always free to add new methods to their toolkit, but I guess in an attempt to keep this thread on track he has stuck to the method he uses himself on a weekly basis to make good money.
I know many who are keen on fibo’s. Not sure if a good thread about fibo’s and PA has been done but maybe that could be something you start and take a few traders through it?