Have just seen Will’s reply to this, and I think it’s spot on.
Just to clarify a bit more:
“A+” is just metaphorical for a setup meeting all of the requirements laid out by Mr J.
Johnathon’s been trading his method for a long time, and he identified key requirements that gave a setup an EDGE over many trades. Edge simply equals “high probability for success”.
Success rate is down to an individual trader’s [B]trade management[/B].
Two of use can get in on exactly the same setup. Then one of us exits at a loss while the other exits at partial profit or break-even. Everything rises and falls with trade management (which is down to mental state/psychology --> how we deal with fear & greed while trading)
Note: trade management discussion is only off-topic to those who are also members of FSO (so as not to be unfair). But for those not in FSO, feel free to shoot away! (encouraged)
I did place a Entry Order at 93.595 and my target will be just below 95.000 with a SL at 92.550
But as I am still new in PA I would be cautious. I am still learning and testing myself on this thread
Thanks everyone for your kind help!
Uh-oh, a couple members have raised their concerns, so I check it with my Roboforex. They are correct, there is no 2-bar reversal at AUDJPY H8 using NY Close chart.
Sorry, cosminc77. Looks like your setup is invalid after all. Better upgrade yours to NY Close chart for further discussion. For MT5, use Roboforex (I use that for my references). For MT4, please read the the first page of this thread. Cannot discuss more about broker here as it is strictly forbidden by Coach J himself.
Im not sure if you saying this is a A+ trade or just showing it but ill take it for the 1st reason.
Besides talking about other factors, by identifying it Pin bar, it is not a commanding pin bar by the size of it and also that the previous candle showing great selling power. Thus not commanding enough to show enough buyers trying to buy back.
Be patient with me as this is just a gentle reminder. From my point of view, if you are trading this PA method live, you need to try to demo for a few months and be able to identify A+ setups independently without being influenced before really get into real trading because when you trade live, greed and other needs may cloud your eyes when you try to find A+ trades especially if you are not matured in finding them.In the end, you will want certain setups to be A+ setup even they may lack of certain criteria and you will think thats ok.
While without the need to earn money and only concentrating in finding A+ setups on demo, will greatly improve your learning curve and able to master Jonathon’s PA faster. Even then, im sure there are lot of greed and other desires that will influence your good trading decisions but at least you have fully mastered the method and the only thing left is try to control your demon.
However if you are using other method live then don’t need to take my comments too seriously haha. Anw I’m not that experienced but have been awhile in this thread. If anything that i said wasn’t right, seniors pls don’t hesitate to point that out as im learning as well
Great PA, Great Level. Just too much traffic so its a no. Good spot though![/QUOTE]
Hey Jackson, can you please elaborate more about this concept of “traffic”… I understand it at a high level, but I’ve got 20-30 charts saved on my desktop here of “a+” setups taken from earlier pages in this thread posted by senior members, and they almost all have “traffic” or some type of zone where price fluctuated that would need to be overcome. I thought the idea was that if we get a solid enough/very strong pa signal, at a key level, with the trend, that minor “traffic” would be overcome, with tp’s set at next logical level?
