Price Action Forex

hello fellow traders,i have been trying a price action strategy for about an year. Attached is the statement image with performance graph. Can you let me know what you think? thanks in advance.

Generally speaking, its’ good, You’re doing well

to be critical , you could be averaging more wins to losses
but hey, the curve is a good curve
you are profiting
you are consistant

WELL DONE

Thank you for the kind words, Martin.

You’re Welcome

What i always tell beginners is…

if you can show a consistant profit over a period of 6 months or more
and. ON THE CONDITION that you not only make profit consistantly but you can show a relatively smooth upward curve on your detailed report
then you are ready to trade live (or at least give it a go)

i get a lot of newbies sending me their report and it starts smooth, then there’s a massive drop then there is a spike up as a result of a gutsy massive lot size

i tell them , Quick and Large trades, don’t count
the curve has to look somewhat like yours
Nice, Smooth and Consistant

an upward spike here and there is acceptable as long as it can be shown that was a plan to it and the lot sizes or risks were approx the same, but the trade went on a rally and you profited from it more than usual, that’s still ok

so. YES, you are doing good

Price action is basically the movement of the price of a security. Nothing more, nothing less. However, it’s not always well understood

Exactly
that’s all it is, it’s a fancy word for saying HOW PRICE MOVES

and it’s important the one understands WHAT MAKES IT MOVE

It’s good. Your average profit trade is higher 2.5 times than average loss trade. It means you manage your account in a right way, and in the long-term, it’ll greatly benefit if you continue

Nice graph! Yes, Price Action is one of the most powerful technical way of reading the order flow! Good job, just keep it up.

Very good result! By the way, do you follow the PA strategy only? What do you do during high voltage news like FOMC, NFP?

Something is VERY wrong with the figures: a system with a 55% win-rate certainly shouldn’t have 13 consecutive losers among only 286 trades!! (Among 28,600 trades it would be expected.) This is a really glaring anomaly.

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@LukasVisser
i think you’re reading it incorrectly
55% is not a WIN RATE its’ PROFIT TRADES (%of Total)

now, he’s been at this for 286 Days
so… it means there are 158 Profitable Trades, that account for 55.24% when you consider ALL THE TRADES

it doesn’t necessarily mean he can’t have 13 consecutive losses in 286

he could have 100 consecutive losses in 286, it would still be acceptable

as for 13 consecutive losses
he didn’t have 13, HE HAD 3 Consecutive Losses
3 Was the Average (which is an indication of his level of skill demonstrated and averaged over 286 days

13 is the Max (he probably did it once in the beginning when he was learning
you can see the intial dip at Day 13 it was probably that as a one off

the only other noteable loss i see is day 275 there is a big dip

Now. to be frank there are only 2 Scenario’s here… right

  1. he could have bodged up the chart and either did an edit in photoshop or even word for that matter.
    in which case, WHY WOULD HE ?
    to show off ? i doubt it

or 2. You are just misinterpreting the chart

the last option is , yes, his installation could be messed up,i suppose and it could affect the chart in some way,
but, … umm, i doubt it,
over such a long period he would have noticed something

i don’t see too much wrong with this
maybe we can get his actualy account history in full to see what happened , if he wants to supply it

at the end of the day
whatever the reason, he is still in profit

Absolutely.

To the OP: if you know what’s good for you, ignore completely Martin’s comment above that “it doesn’t necessarily mean he can’t have 13 consecutive losses in 286”. He’s very, very wrong. There isn’t a one in tens-of-thousands chance of this happening randomly, and you need to find the explanation for it before trying to trade this with money on the line. As Lukas correctly mentions, something is clearly very wrong with the figures shown above.

Ok @LaughingCharlie
well instead of being rude

Why dont you explain it then ?
instead of just shutting people down

What makes you the Authority ?
I’m a Successful Trader
Are You ?

@LaughingCharlie
oh, and just so you dont’ get the wrong idea.

as stated before in that thing with bob,
i’m happy to be proven wrong

but you didn’t prove me wrong
you said “Don’t listen to Martin”

now. have i ever done that to you ?
Whether you were right or wrong?

so… Ok, Go ahead, Prove it?

The graph is showing good result. You do not need to think about any negative. The important thing in forex is earning consistent profit. And that’s why price action is. Well done brother. You have to keep this consistency, I mean keep the upwork graph. If you fail to maintain the graph any time you may fall and face a big loose. The very good thing is you are giving your lots of hard work in price action.

Agreed. The 13 consecutive loses is certainly an anomaly on such a small number of trades. It undermines the precision of the 55% winrate estimation => on a bigger sample size the winrate could potentially be lower. If 55% would be a perfect estimate then the 45% chance to lose to the power of 13, would give you 0,0031% chance of such occurance. It is an anomaly, considering you only have 265 trades in total. In general to really estimate how good it is, with a good degree of certainty you will need bigger sample size.

Let’s not jump to the extremes though. This does not mean that the system is bad, all it means you can’t yet tell. Increase the sample size is the best solution. You could also have a look at that streak (streaks) to find a way to improve your system by eliminating it (without eliminating too many winning trades).

Keep up the good work.

@LaughingCharlie
I SEE WHAT HAPPENED NOW

it 3am here in sydney, i’m tired

i somehow thought for a moment that it was 286 DAYS or trading
where as it’s 286 Trades total

ok
SO I STAND CORRECTED

but i also want to say this

Was the rudeness really necessary ?
could you not just have pointed out that i was counting in DAYS as opposed to TRADES ?
and i was looking at it incorrectly
would have been much easier ok

anyway
that’s that, it’s sorted

so ok, i agree then
over 286 TRADES, yeah, that’s weird

Correct.

You can’t draw any inferences either way from the figures above, because they’re clearly wrong, in themselves.

THIS IS THE POINT.

But what a struggle it is, in this forum, to explain the reality to anyone who’s asked a simple question, when the thread is full of nonsensical comments made by people who have missed the point.

All of the above comments are inappropriate and just WRONG.

You should get used to the fact that people that are drawn to forex are usually looking for easy money, expect to find a system or a sequence of numbers that guarantee profits, without understanding how subtle some of those are (especially when it comes to mathematical/statistical understanding). You have to apply a filter to those on public forums. The biggest cancer I have experienced in forex was investing.com forums. Saw them once, I’m not coming back :smiley:

Babypips is one of the better ones to be honest (imo the best).

Obviously, but nearly everyone here who understands that has already left.

It’s becoming self-perpetuating, now, because the fewer people there are left here to talk any sense, the less pleasant it is here for them.

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