Another possibility to watch for is AUSUSD. On the weekly chart (as enclosed) :
- Price has established LH’s (green lines)
- Off TL
- 4 Tops established @ 1.0600 (pink line)
Perhapes we should watch for a PA signal on Daily as after 1.0150 to go pullback down (as shown on
attached). with TP1 @ BRN 1.0000 & TP2 somewhere around @ 0.9800
Your comments will certainly help, thanks
I’m not so sure it’s an urban myth.
I have checked Dudest’s trades on daily charts from last year: 301 Moved Permanently
and according to the way I would have made trade management for those trades I would have lost only 9% of them (trades where I wouldn’t have had the opportunity to move to BE). The other 91% were winners or break evens if they were managed by me. I don’t look for 2:1 R:R, I think I would have won less than 40% of time if I looked for 2:1 R:R. Sometimes I take full profit at less than 1:1 depending on the situation.
nor a sense of humour either apparently Konan shame eh,cheers.
Forget about hindsight counting pf setups and especially managing them in hindsight. It’s not reliable data. Ofcourse, I was just going by what I observed on fxbook and similar sites where years of people’s trading results are displayed in full…So, I expected Johnathon to round it down to 60%, 70 at most. Higher numbers would and I’m sorry, but signal bs to me.
Also, I wanna add that one shouldn’t just determine(no matter what) to have 2:1 at the moment they are doing the initial analysis, but you should be looking to move your stop, if possible during the trade; °manage it .
I believe that PA is(as a method of trading) compared to other manual methods, a winner, but you still have to be present at the desk to see the trades through. Otherwise we mind as well let someone else manage our money on zulutrade or wherever
Nope I got what you were saying Don’t worry. You will know if I am offended as you won’t be able to see the thread anymore. Haha.
Konan is right about the cultural divide at times. Please take off the crack about sheltered life in your post as it gets away from the environment we are trying to create.
Thanks mate.
Johnathon
That’s why I haven’t calculated the profit I would have made taking those trades. I looked mainly for the moment when I move my stop loss to BE (and usually I move quickly to BE). However I think on average I would have had less than 1:1 R:R. I use a tight trade management. I’m not so good at picking the good PA setups though (there are a lot of setups I wouldn’t have taken) that’s why I plan to buy a membership at FSO.
This is kind of what my question was about. It seems that with a 60% win ratio the R to R would have to be more like 2 to 1 or more to make a good profit, while if you manage your trades a more conservatively your winning percentage would be higher, but R to R would be lower. I guess I was thinking Jonathan was teaching more of a conservative trade management style that would have a higher win % than 60%, but possibly a lower R to R, or maybe the best of both worlds.
Ok Johnathon just for you , ,job done.cheers mate
Good morning guys, " it is morning at my time zone"
Here is two charts, h4 and daily for EURGBP .
Is it right to go long? Ur opinion Plz 
Hi wafikjabra,
Sorry for my question. But the chart is small . This BBBB closed in 1/3 ? I see it nearly closed near its half?
What do u think.
Edit : I see now that my chart is different dorm yours. In ur chart it closed in 1/3 . Sorry for misunderstanding.
hi gehadeg,
This is my opinion.
that 2 reasons I will skip this setup
EJ
Hi EJ 2301,
Oh …right , I see it now. This combined with the long bearish at daily, u r right. Thank you
Ahh yes but as I alluded to in the original post; if I was only trading daily setups with the signals and price action we discuss in here then the win rate is far higher for those, but I also trade other setups such as continuation setups, breakouts with price action, touch trading and intra-day trading. For these my win rate is not as high due to the nature of them.
The question was overall win rate and I gave the answer. As I also said in previous post it is not uncommon for traders to go a few months without a loss on the daily charts trading with what we do in here if they are picky.
Please do not mistake this though. I do make losses like everybody. I am not immune to this and it is just a cost of doing business in the field we operate.
Let’s get back to trading now.
Johnathon
Thanks mate. Great stuff.
They both have the same problem and it is the most common subject we discuss throughout this thread.
The 2 bar and BUEB are both not at swing lows. They are both bullish reversals that need to be at lows and not in the middle like the are.
The daily chart has a key resistance just above which is well below your TP. The 4hr chart is a mess with no clear bias either way and a lot of chop.
I am NOT saying to not trade these and NOT saying they won’t work. I am saying they are not quality signals though and not what we are looking for.
EURGBP DAILY CHART
Here is something I am looking for on the EURJPY daily chart. We can see price formed a BEEB which also smashed through the recent support area. Before this BEEB you will note a small IB that was formed sitting on the support.
Looking for this old support to hold as new resistance should price retrace higher back into it and to hunt short trades on intra-day charts.
EURJPY DAILY CHART
Hello Johnathon and Dudest) Wanna ask you guys a question which is bothering me these days while looking for the A+ setups.We have to look for the traffic free areas on our left so they cannot sabotage our trade later.But sometimes i get confused and had second thoughts.Some setups have choppy areas on some points while on the same points later they get clean and didn,t have any troubled choppy area.For example below is the 2 day chart of AUDCHF.As we can see the blue highlighted areas were choppy at the resistance area but at the next resistance areas they get clean and trouble free.So while analyzing such set ups should i avoid them because they had a troubled past at that level or should consider them trouble free because at the recent areas they were clean and unchoppy?
[B]OFFTOPIC[/B]
Hi johnathon) Continuation setups,Breakouts with price action,touch trading and intraday trading includes in your PA course at FSO? Or the course at FSO is only about we discuss in this thread(only trading from swing points and value areas)?Finally do you watch and trade on 8 h,12h and 2 day charts? Sorry man if it may irritates you today i am asking too many questions)
Hello Waldmann,
this pinbar is against the trend so i wouldn’t trade it personally, i would be looking for PA at a key area to sell.
