I look forward to discussing price action more with you here. I have spent most of my life learning about market price, volume and S/R, so that is the way I have always traded and the area of my trading I have worked on improving and mastering the most. Being a programmer and spending my days working on algorithms and statistical analysis tools, I look at successful Forex trading as simple math. The method you learn is just the vehicle to achieve the right equation, which is winning more $'s than you are losing. I personally use a “big and defensive” technique where I tend to shoot for very high RR setups, while be very protective of my capital and trying to cut my losers short early. This is just how I trade, but price action is very flexible. You may want to shoot for lower RR setups because it is easy to hit your profit targets, and try to achieve a high win rate. Both methods work, you just have to find what way works best for you.
I try and produce price action articles at least once every two week to keep the members here consistently growing in their understand of PA. I will hit on all of the foundational topics here, and you as a trader will have to decide how to “make it your own”.
Hi Kruger,
Thank you very much for your informative articles, I enjoy reading posts and watching video. I’m now subscribed to your thread and start to learn from it step by step.:35:
[QUOTE=“Jetaime;552036”]Hi Kruger, Thank you very much for your informative articles, I enjoy reading posts and watching video. I’m now subscribed to your thread and start to learn from it step by step.:35:[/QUOTE]
Your welcome, watching traders grow and succeed is what makes it all worth while. I promise to create more videos and articles in the near future. I have been working feverishly on a number of projects I have regarding price action. In the meantime I encourage you to ask questions or just hang out and discuss trade setups. One of the best ways to learn price action is seeing it in action on the charts. I have a pretty strict ruleset so I don’t take trades often, but I am always watching key SR levels for pa to form, and will post those charts I am looking at for you benefit.
Just the other day I was thinking about posting on babypips to ask is there a forum not linked to one of the so called big Gurus, and as by magic your thread has appeared. I have been studying forex now for 6 months and I am now into my fourth month of demo trading. With the exception of the first month, which was spent “playing around” with various silly strategies, I have been using Price Action. I am doing ok, but still enter the occasional silly trade which, more often than not, is costly. Looking to further my knowledge I am currently reading a book about Volume Price Analysis by Anna Coulling. I look forward to hopefully learning more from this thread and if I have anything positive to add, I will.
If a price consolidates in around support or resistance area for quite a long time, then does it have bigger chance to break it or rebound or neither… ?
First of all, Hi to everyone - just subscribed to this awesome looking thread. I have been studying price action for 6months now after years of messing around with indicators and different systems and I KNOW this is the way forward. Thanks Krug…
I have a question on your post re: GBPNZD - I zoomed out on the daily chart and I see a support level 1.8860…That could get in the way of your short trade - how have you factored that into your trade idea? Thanks…
Thanks for introducing yourself here, and welcome to the community! I think there are indicator based systems that work at the scalping level, but I truly believe successful trading is all about price action. Price action helps us get into trades after the market has already hinted it’s intent, not just picking some arbitrary entry point because it feels good. In that re-action type of trading lies the strength of price action.
To answer your question, it does not bother me. I trade all the way down to 30 minute candles. This is just theoretical setup to explain my point, but price could pull back to the 1.9000 S/R area and a bearish pin bar could form off of that level. Entering at a retracement of that pinbar could give me a 20-30 pip stoploss, which means a trade from the 1.9000 to 1.8860 area would give me a RR setup of 1:5 or 1:6. As of yesterday this pair began a textbook bear trend which gives heavy support to any trade that would help get in line with the bearish trend. In my advanced PA thread that I run, I focus very heavily on all of the market dynamics. Tops and bottoms of ranges play a part of the analysis I do, but there are many other dynamics of a trade to look at when deciding the risk and quality of a trade. The most important part of price action is that you are trading in the direction that market has already hinted it wants to go.
Hey Daxter, I like to think of my threads as a price action buffet. I lay out all of the various tools, patterns and techniques that can be used in trading price action, and you can pick the ones that work best for you. As you master those you can add more on your plate.
Even though I am teaching price action I still voraciously consume volume and price knowledge, although I am at the point not where I know most of the main topics and my best learning experiences come from taking trades. I will still check out that book though. I think you will find a couple differences between what I focus on and teach compared to what you will find out in the guru world. I feel that most of what is offered is fairly basic, because something that is basic will sell more. So the problem lies in there is more emphasis on sales and the bottom line, and less on make sure traders are fully equipped.
I focus more so on combining volume analysis with price analysis. I also like to use price action patterns to supplement my candlestick trading. I try and focus on the most important dynamics of the market to help the trader understand just how much risk there is in a trade. I do this very quickly in my mind but I am trying to lay it out more step by step to help other traders learn the process that I go through. I am glad to have you here and I hope to be discussing more PA with you in the future!
About 2% of the US workforce telecommutes, I am apart of that 2%. I write code for and manage AT&T virtual private servers for my company, so my place of work is wherever my laptop is at. My boss lives about 1,000 miles from me, and also telecommutes. This is normally my “work time” but my boss gave most of this week off so I have been able to be more active here this last week.
I created this thread because I felt some of the members of my other thread were getting overwhelmed by some of the topics I discussed. This is a place they can come to where they won’t get bombarded with techniques and ideas they aren’t ready to learn yet. My hope is that as people get a foundation here they can graduate over to my other thread. It makes the PA learning experience a little easier I think.
One is that I believe what is taught over their too restrictive. I don’t want to be constantly digging other PA teachers. I think Johnathon is a good guy and the principles of his method are solid but simply out of respect I won’t get into all of the other reasons. I will let people read through my intro and come to their own conclusions.
Essentially yes, just as many 20+ aged traders began their career in demo trading, I began my demo trading at a very young age, just entering my freshmen year in high school to be exact. Actually my senior year in high school I won second place in a stock trading contest where I was able to increase my account size by 12% in 6 weeks, the other guy beat my by like 1%(I’m not bitter or anything, haha). My older brother had a friend that was a license stock options trader that begin explaining to me how to make money in options at around the age of 12. So naturally after I graduated highscool and got married, the first thing I did was begin trading stock options.
This is the only thread I am an official member of and have contributed to but I have spent my fair share of time creeping around other websites and forums absorbing information. Keeping the good and spitting back out the bad.
You maybe misunderstood the forum question. Which other forums, stocks, games or otherwise, have you been a member of? ie trade2win, 4newbies, stocksru, etc.
If you would like to continue the “who is krugman25?” discussion then send those to me in private chat, outside of my price action learning threads. I have told far more personal information about myself than I have seen from most other PA teachers. I don’t believe I have been vague on anything I have discussed and have even gone to the degree of posting my US patent information to “verify” myself. I have been receiving messages from members about their annoyance with this thread continuously being derailed from price action teaching.
The best thing to do is if you think what I am writing is garbage or doesn’t hold water then just move on and find a better thread. Any further attempts to continue to derail either of my threads from PA discussion will be reported. Since the “Rules” post doesn’t seem to be clear enough, I have added a Note #2 on my introduction posts.
I will respond to these final questions for clarities sake. Yes cluttered, this thread was created for discussing price action. If you would like to dig into the lives of each PA teachers, start your own thread for that purpose. If traders have to sift through 20 posts dedicated to questioning me just to find something about price action, we have a big problem.
While I know you feel you are being pretty whitty with the middleschool / highschool discrepancy, you actually look foolish. Last time I checked someone can have ended their 8th grade year and started their 9th grade year all during the same age of 15. If you need me to explain to math behind that please private message me.
I haven’t played any stock games as you are describing, and like I stated am only an official member of babypips.
Seriously, why can’t so many of you just give us a break? We simply want to learn Price Action in peace, and [U]your vigilantism does not really help us any single bit[/U].
With this kind of attitude, I don’t think you guys will even welcome a real deal like Warren Buffet or George Soros when they -Godwilling- decide to share how they do their trade in open forum like Babypips. But then again, [U]maybe for that very reason[/U], they choose [B]NOT[/B] to share how they do their trade in open forum like Babypips. :mad:
Krugman, can we just simply move on to our Price Action learning here? I’m really getting sick and tired to read all the crap you have to endure this last few days, and I’m really not here to read the ‘[B]1001 interesting life facts we all need to know about krugman25[/B]’. To any vigilante out there reading this, we don’t give a crap. What we do care here is that Krugman wants to share us how he personally interprets Price Action, and he does know a thing or two about Price Action in practice. If you are not satisfied at all with his PA material, then by all means feel free to begin your own Price Action thread yourself.
Thanks willy, I couldn’t have said it better myself. And I believe you are speaking for a lot of people here wanting to learn. With that being said, lets get back to PA!
Thanks for that Willy good to see a huge cheerleading section.
Also thanks for your indulgence, just wanted to clarify a few discrepancies. Yep carry on with your PA thread, I am sure the extraneous posts will be removed once the thread shows it’s value. :lmao:
Thanks for that Willy good to see a huge cheerleading section.
Also thanks for your indulgence, just wanted to clarify a few discrepancies. Yep carry on with your PA thread, I am sure the extraneous posts will be removed once the thread shows it’s value. :lmao:[/QUOTE]
Dear Pipzilla
Why don’t you ban members like this? Surely you only need to look through this guys previous posts in forums to see that he is trolling with no real interest in forex other than making negative comments. With all due respect, what’s the point in having a moderator If obvious trolls like this are allowed to continue posting?
