Hello.
I think that nice setup ( based on Phil ebook ) is forming on E\G. Probably I will take it today (maybe on the break of the Sunday candle ).
Cheers.
Hallo everyone
Actually i Learned allot from james16 thread But there is allot of things i dont agree with him on it :
Trading daily is so risky because if you have Small amount of money ā10.000$ā for example it will never work for you because your stop will be high .
Trading is not just about Candle stick pattern is about Where is the Candle? When? and allot of other elements make it succesful trade .
The best way is to learn Candles with Fibonacci and S and R with the trend on H4 chart Not daily for someone dont have allot of money .
I tried Price Action system on interaday trading i succeeded allot of times but i was Break Even most of the time for 2 years and this achievement in my opinion that you donāt lose your capital .
I learned that always follow the bigger time frames , For example if there is on the daily reversal pattern says long never go short because the H4 says short but When both of them says long go and be comfortable you will be winner .
I donāt know i feel kind of confused until now if i use indicators or not , i used stochastic for intraday but i donāt know what i should use for long term strategy like H4 ??? If someone can help me with that would be nice .
The problem of the Candle Reversal pattern that could your broker show it to make you lose but other Broker donāt show it , for example Alpari show Pin Bar , Interbank show it normal , Which one you should believe? from where i can get the best , Clear and Honest data feed? Does anyone knows???
anyway Iām still student and i like to learn but just i give my opinion about this kind of trading from my experience in trading since 3 years
hope to get answers guys
Thanks for reading
kind regards
Flast
I have very little experience with these retail platforms - willing to test out a few to see how they tick. Any ideas? As an aside, I worked for a US bank on their trading floor - so Iām not super duper familiar with retail trading platforms. I worked with one, spread based - simple to use, not great charting - not horrible either. Want to move to ECN and figure out the fuss over MT4. Thanking you in advance for your input.
Alex
ECN and MT4 huh?
Sounds like you might want to have a look at MB Trading. Only ECN I know of that offers MT4. Not sure they offer it for demo though.
Forex.com and IBFX are other MT4 brokers worth looking at.
Look Alex , To use ECN , STP āāStraight through the marketāā, NDD ''Noun Dealing desk ''or even DD āāDealing deskāā , All depends on the honesty of the Broker and to know this it comes only with experience , i think from the best Brokers Worldspread , MBT , this is the only companies i know that they are honest until now
MBT has metatrader if you would like to use metatrader
Hope this helps
Hi Phil and everyone,
This is a great thread. I learned quite a lot from your ebook and on-going discussions, and would like to thank you (and others) for the help!
Have you look at EURJPY? It is getting close to S/R zone of 138.55 - 139.69.
There were 3 prior bounces to this line, on 4/6, 6/5, 8/7. It might be a good play for retracement or breakout.
Would you please take a look and comment? I am new to forex and still learning.
chin
I think Phil is away at the moment. Iām sure heāll answer when he comes home.
Hereās my view.
Itās true that EURJPY is now at a location where it has turned several times recently. Thereās one thing missing though for me to take a trade: thereās no price action trigger for a short trade.
Iād like to see something like a pin bar on Monday, or a bearish outside day or something like that. Then I might consider going short.
Or we might get a break above the recent highs and then we might have a long trade to consider.
My point is that right now thereās no trade for me, just price being in an interesting location.
It should be pointed out also that the pair is currently in an uptrend, so any trade should be taken with a cautious attitude.
Itās all about location you know. Another trader wrote something pretty funny but also true ( he uses bar charts instead of candlesticks):
[I]Great bars at great locations![/I]
Thatās what we want! So far we only have the location.
I second everything MacGyver said, but itās been over 12 hours since he posted and I think itās starting to showing us what we need.
We have an Inside Bar forming right now (If youāre on IBFX I donāt count the 2-hour-long Sunday candle as a real Inside Bar). Itās still too soon to call this one ātradeableā, but Iām keeping my eye on it.
If today closes with an Inside Bar, which it looks like it very well may do, Iāll set up a pending order to go short a few pips below that IB.
Hi Phil/mh.
Thanks very much for the feedback. I really like this quote, it says a lot: Great bars at great locations!
There was a pinbar formed earlier, and it could be a very good trade if entered on next bar. I would take entry @138.15 (10pips below PB), SL 138.65 (S/R line), first TP 136.85, second TP 136.00. Is this setup all right?
Also, I can not see IB in this chart.
I am still in early stage, doing some paper trading now and plan to demo trade after learning the technique. Too bad I am not able to watch market during the day due to work schedule. Do you think I can trade just using daily chart (or maybe H4)?
Here on daily chart, the entry would then be 137.09 from OB, with the same SL/TP. Do you think this is sensible?
Would really appreciate your comments. Thanks.
Phil:
Iāve just read the whole thread and itās amazing! Great material.
Keep it coming, loooking forward for the second part of your ebook.
Sorry to hear about your car accident. I hope it was nothing serious and youāre ok.
Regards.
Bali
I hope to see the second part. 
This would also apply to indices, right?
I am up $10k this week from one trade. The ASX200 was down 8% from the previous week, then it had a pin bar on 3rd Nov and then went up 6% so far. I based the trade on the candle pattern and my understanding of the economy as a whole.
Although I was not following basic money management rules, I put $250k long on that trade. I will be trading more closely to your system from now on. Time to re-read your book and start trading smaller lots. Havenāt closed the position yet, holding until I see a reversal.
What happened to this thread? I read all 355 messages but the last one was posted a long time ago. Surely it canāt be that everyone simply disappeared???
Xelnar, thank you for at least posting, I never though Phil had a pdf of his own discussion of the basics. 
readingā¦
It seems Phil disappeared and this thread slowly died. Real shame as Phil was a great person to have around here.
Now that youāve mentioned that. Iāve never seen any post from him since the āwin ratioā thread. Thatās quite sad.
It is sad, yes. I hope it wasnāt the result of unexpected complications from the car accidentā¦still, it did seem strange.
May I ask if either of you have found another thread that is as stimulating, informative and valuable as that one was?
Well, there are many good threads here on BP, but this is a thread which, for me, is THE thread: james16 Chart Thread @ Forex Factory
Thanks. I saw several references to this thread over the course of reading the 355ā¦Iāll take a look.
Yes. It was a very active thread until Phil was aroundā¦ he used to coach and mentorā¦ great guyā¦
even the other thread "james16 Chart Thread @ Forex Factory " also has been quite lullā¦ We need some one experienced and intent to contribute to the community is required to make these threads lively, once againā¦
Very badā¦ I used to enjoy the conversations here a lotā¦
Phil just posted in his Sunday Breakout Strategy thread earlier today. He mentioned that we can PM him if we have any questions, so at least we still have him to teach us in that sense. He is currently going back to school to get his masters, but hopefully heāll be back soon.