Hi johnathon
No worries pal, thought you’d reply after posing the initial question but still love the thread. Learning loads I think haha
RMc
Sorry mate.
I am lost… I tend to pop in and out in between things. If you need be post the questions up and again and I will get to it pr refer to what we were talking about…
Hello) An excellent post on Trading with the Trend versus Trading against the Trend | DailyFX I hope this will help other new bies like me on this price action thread.
Thanks.
Watching the same levels although I have to admit I can’t yet afford playing neither gold nor silver from my tiny account. It is informative though to watch the PA and see how it evolves from my levels.
Fil.
PA cheat sheet
Hey Phill,
is there anyway I can edit your evernote sheet. I want to add a few things and also add a few pages from the site and then would use it as a basic list for new traders interested in basic PA. Think it could really help. It was awesome when we had it on page 1 as it killed a lot of the often asked questions, but was informed it was not allowed. I will add a few more things and then flick to the BP mods to see what they say and even if they don’t allow it would be very useful…
Johnathon
Thanks Johnathon and dudest. I’m a dummy, didn’t look far enough to the left. Just looked at all that open space
It had just occured after a break down of the support level. At that point I thought we’d be looking for just shorts.
Hi J,
Unfortunately Evernote does not allow sharing (co-editing) single notes on free accounts, I’d advise you register for a free (for life) account with them, copy my note and amend it to the level you are fully satisfied with (YOU got my full permission to do so 
). You could as well send me those points so I could add them in, but it will not allow you to fully control content of the Evernote note as it’s assigned to my login details. I think creating your copy from scratch (start with copying my content) will be best solution.
FYI, I have tried to keep the amount of links (in my note) taking the reader to the outside (of BP Forum) content to absolute minimum. In my opinion the links from post one were banned as they were linking to your personal website, I am pretty sure admins will allow you to add them back as long as you will keep them pointing to the content of the forum (we got exactly the same rule on our company (retail) website, we simply try hard to keep our customers/readers to stay on our website as long as possible).
Besides, getting your own Evernote account will allow you to create other notes, so you could differentiate between free content for BP Forum readers and content for your other audience with more detailed links.
Sorry I can’t help more.
Fil.
Ok, so here is a H4 chart of the USD-JPY. I took this trade in demo as I’m still learning (reading up to 600 pages of this thread so far). Support/Resistance lines in green were drawn on the D1 chart and then I drilled down to the H4 chart as price reached that level to see if there was any PA signal I could take to go long in the direction of the overall daily trend. Apologies if this trade has already been anaylzed…
Also, a big big thank you to Mr. Fox who by starting this thread has really highlighted for me:
- How over-reliant I had become on rubbish indicators
- How much I had over traded in the past because of the need to “always be in a trade to make money”.
Thanks!
Please tell me your opinion :33:
Hi Fil,
What a great job you have done! For people to share and for Johnathon to be able to edit you can use Google Drive (used to be called Google Doc). Once you create a document you change sharing from private (default) to “anyone who has the link”, and allow “View” access only. Then you add Johnathon and allow him to edit.
How many ounces does have a lot of gold?
From what I know a lot of a currency has 100 000 units, a lot of silver 5 000 ounces (but on some brokers I saw 1 000 ounces)
But I don’t know a lot of gold and a lot of oil.
Thanks.
Hi. Just my novice opinion - but I’m liking the way this looks. BUEB at daily support, moving away from BRN of 89.00, PA signal at pullback from overall bullish trend. Still 2 hours to go before the BUEB is confirmed.
thx, I trade only closed bars:-) but this setup got my eyes earlier and I wanted to share that with the community, appreciate your input…
I think I’ve found. At Hotforex it’s 100 ounces a lot of gold and 1000 ounces a lot of silver (even though in other places I’ve seen 5000).
What I don’t understand is how to calculate position size for oil. 1 lot of oil = 1 contract. It doesn’t have units like currencies and metals. If I want to open an oil trade and want to risk $1000 and have stop loss of 200 pips how many lots should I buy or sell?
I also don’t know how to open a position for indices. Babypips school has explications only for currencies.
It doesn’t have much space to move. The candle closed higher than in your chart. Also other JPY pairs didn’t form any BUEB and JPY pairs are strongly correlated.
My novice opinion is do not trade this setup. The entry is right at the VBRN 90.00 which has not been rejected yet. I was reading one of Johnathan’s posts talking about VBRN: you trade away from it after it’s been rejected (and it should be between your entry and your stop, close to your stop). If price keeps going up it may be pulled back at any time by the VBRN which acts like a magnet.
Tks for the alert michalkraus. I wasn’t following this pair. I opened a 12H chart and saw this nice BUEB and the price
did already broke the top of the last candle but was sitting right at the top. I entered the trade which has now moved around 60 pips in my favor. Placed break even and TP at 91.00
