Its perfectly reasonable if you you have ~£500k account. If he’s been doing it for 3 years, with compounding, with a reasonable starting a/c size and this is any reflection of avg performance this is what i would expect. I do worry about what the tax man is going to say about this however…
You had a good week.
What was the purpose of this post. These results are impressive , but they are not from Jonathans strategies indicated in this thread. It makes them irreverent . Maybe post them in the trading journal thread or something along those lines.
[/QUOTE]
Its wonderful stuff, Thnaks for sharing Forex price auction information.
Hi nbm,
I see what you’re asking, but just keep it simple. As long as it opens and closes within the previous candle, it is a valid pin.
The rest is up to probable outcome (we never know which will be winners and which will be losers ==> probable outcome)
Cheers
Fair enough, but it doesn’t matter how much you have in your account. It matters how much your are risking per trade. And 90% in a week means one of 2 things.
Darth
Hi guys,
Apologies if this question has been asked/answered in this thread. I’ve just come from MG99M’s thread on Price Action, and have just begun reading this one.
How important is it to trade based of NY close candles? I’m from Australia, so the candles I see during the times I trade (and therefore the potential price-action setups) differ from most of you.
Thanks for any help.
Ivan. think you will find AxiTrader, (Sydney) and probably Go Markets (Melbourne) are new NY close…
cheers pw
Fair enough, but it doesn’t matter how much you have in your account. It matters how much your are risking per trade. And 90% in a week means one of 2 things.
Darth
I am risking a lot per trade, but I just use my trading account as funding to open trades, I have a set figure I am willing to risk per trade, which is around £5k, 10% of my account. If the trade looses, and at the end of the month, my account is less than £50k, I will just wire more money to it… though that has yet to happen.
It doesn’t matter how much you are risking per trade, say you have a £1k account and risk 2%, so £20, you actually think you will be making good money from that, no, but if you are willing to take a risk of £50 per trade, on every trade, and keep the risk:reward right, so don’t take trades with less than 1:2 Risk:Reward, you will always profit providing your trading style is profitable, also, how much you have in the bank is another factor, say you have £1k in your trading account and £100 in the bank, then you will have a lot more emotion, and be wanting to make big money, therefore you will be over leveraging, taking risks that you cannot afford to take, and will blow the account and have no funds in the bank left to back up your account, trading is not for people who are trying to make a quick fortune or for broke people, IMO.
Also another thing I do is cut trades short before I hit too much of a loss, so if i enter a pin bar on H4 and see it is going wrong, I will check H1 and sometimes as low as M15 to get a better understanding of what is going on, and if i see the need to cut the trade at a loss, I will. Multiple time frame analysis is a very important thing, and every trader who wants long term success should be able to do this.
Were is the Volume volume spread Analysis and Dynamic support links. I also dont see any links to the 1h charts. Im positive that the results posted above are from a different system not presented in this thread.
Wrong, they are all links to stuff posted in this thread and the links are on the first page of the thread. Dudest put in a power of hours to get all this stuff linked properly so it definitely [B]aint [/B] a different system from a different thread.
You see, you see the monster you have created!
Hey all,
I have been travelling and then away for the last few days.
We need to remember a few things when we place a trade; The area and the price action story is the most important thing. I may sound like a broken record, but the area we play trades from and the story is king.
We also need to remember we played and entered the trade for a reason and stick to our plan. I know secretly a lot of traders chickened out of this trade and cut their losses before letting the trade run it’s course. Instead of letting price move down and run it’s course they cut it and run. They forgot they had placed this trade for a very good reason.
There was always a high chance price was going to be rejected the first time because unlike the 4hr chart there was not as much space to move into, however with reversal trades such as the pin and EB we need to keep in mind; if price has formed a pin or EB once and price moves back to test the high or low there is a high chance that price will be rejected again. It is so common to see a pin or EB form and then the next candle move straight to the high or low and reject almost to the same area before rejecting again and the reason for this is the high or low of the pin bar or EB is showing us where price has found support or resistance.
The most important thing about this trade was the key daily support level and recent up-trend and if you look at the daily chart you will see that this was what kept traders in the trade.
USDCAD DAILY CHART
When you are looking to make a trade look for the best areas and then either have full confidence in your trade and pull the trigger or don’t make the trade because if you don’t have full confidence in it you will be forever looking for ways to get out of the trade when you are in it.
Johnathon
I must be overlooking the volume spread analysis and dynamic support links. I very interested in including volume and dynamic support in my trading plan. Could you post the link for me bhops. Thanks
Wouldn’t have a clue what link you need mate. I suggest looking around some other PA threads, shouldn’t be hard for a smart fella like yourself to find them 
No offense Noname but your comment is off topic as volume is not a relevant issue from the approach we are learning here. Suggest you start a new thread or post in alternative thread.
Hi guys.
2 break even this month. Probably will be no more trade until January but who knows 
USD/CAD Pingulfing bar. I thought the 4 candles together would combine into a nice pin so I took the trade.
USD/ZAR Engulfing bar. Nice big PA which didn’t want to move. Missed my first target only 12 pips. I’m glad it’s closed tho as it’s been hanging around in the negative for weeks.
Save trading for the holiday everyone, wish you all a very happy new year!
No offense Noname but your comment is off topic as volume is not a relevant issue from the approach we are learning here. Suggest you start a new thread or post in alternative thread.
Read more: 301 Moved Permanently
. I made a comment a few posts above how someone had great results but the results were produced with tools not discussed in this thread. I said the results were irreverent since they were produced from a system that uses volume, dynamic support 1h chart trend lines etc etc etc. Bhops said I was wrong and the system that produced these results was in fact price action and all the stuff discussed in this system has links to the first page. I couldn’t find the links so I asked if he could kindly post them.All in all bhops was wrong. There are no links to dynamic support and volumes.
Reality is, in a very subtle way you are trolling this thread. As I’ve said before if you are after dynamic support and other hocus pocus go and find it in another thread. It shouldn’t be hard to find.
All the links Dudest provided were from posts in this thread if you can’t find them then that is your problem. Otherwise mate just leave this thread alone and go and make trouble elsewhere. Clearly you already have another thread in mind, I suggest you make yourself useful and go and make some posts in it.
Cheers.
We can often talk ourselves into seeing what we want to see rather than just trading what we are seeing and what is right in front of us on the charts. Because it is Christmas we start to expect something different and we start to look for something different to confirm to ourselves what we are thinking even though the charts are behaving no differently.
I normally trade right through the Christmas and New Year period and the last three years before this one especially it has been some of the best months of the year. This year I am taking a break just because I could do with a break, but I enjoy the markets at this time of the year as long as you trade the price action you see and not what you think.
It was a bit like all the conversation around the USDCAD the other day I just read in regards to the daily BUEB that a lot traders ended up cleaning up on. At first price moved lower to move in and re-test the support level and when this happened there was a lot of discussion about; “Is this a lack of follow through? and if so is it because of Christmas?”, The first thing is we all know any trade from anywhere can lose and the next thing is it had nothing to do with Christmas. Simple supply and demand equations.
Before the daily USDCAD played out we discussed how the 4hr play was the better play because it had more space and how the daily was at first moving directly into traffic/resistance. As it panned out for price on the daily chart to move higher it first needed to take out all of the short sellers that were sitting above the high of the BUEB (resistance) to clear a path for it to eventually move higher.
As I explained in another recent post; engulfing bars are created for a reason. They are showing us where price has rejected. In the case of the USDCAD the BUEB was showing us that price was rejecting the key support level. If price moves back lower again there is a very good chance that price will once again do the same thing and find support at a similar level as where the BUEB has. It is very important that traders keep this in mind when looking to place their trades and in particular their stops! Think carefully about what I have just said and be careful not to be one of the many that gets caught out in the obvious retracement.
Safe trading,
Johnathon