[QUOTE=“Managed;595581”]Price action is one of the most important things you need to take into consideration while trading.[/QUOTE]
Also, always have a toilet near by.
[QUOTE=“Henry9986;595605”]It’s the last day of lunar year of Snake today. As we move into the year of Horse I wish all a profitable year of Horse, whether or not you celebrate Lunar New Year!
May your profits gallop forward like the Horse!
<img src=“301 Moved Permanently”/>[/QUOTE]
Happy Lunar New Year!
ROFL, haha
Any thoughts on this? Its a D1 bearish engulfing bar on AUDCHF. Only negative thing I can think of is it isn’t at a huge swing high. I was planning on moving to break even at the FTA but it hit my entry and reversed. It hasn’t lost yet but clearly it’s looking bad.
I’m in on the USDCHF which is near exact to this trade all I can say it have faith, the daily hasn’t closed yet and we set stoplosses for a reason.
Darth
I’m currently watching NZD/USD daily chart for some price action as price is nearing a retest of horizontal and diagonal support lines.
[QUOTE=“darthfrancis;595888”]
I’m in on the USDCHF which is near exact to this trade all I can say it have faith, the daily hasn’t closed yet and we set stoplosses for a reason.
Darth[/QUOTE]
Haha I’m in the CADCHF off of that beautiful 1hr pin bar yesterday, it was doing so well! But has today reversed…not looking good :<
[QUOTE=“Mr B A Barracus;595923”]
Haha I’m in the CADCHF off of that beautiful 1hr pin bar yesterday, it was doing so well! But has today reversed…not looking good :<[/QUOTE]
Spoke too soon, I’m a goner! Stopped out…that was the sweetest pin bar I’d ever traded too.
That’s what laptops are for
Sorry bro, my USDCHF sell trade is pissing in the wind so adjusted tp at entry to hopefully get out without any damage.
Also did you see the nice BUEB off the major S/R level of 80.00 on the CADCHF D1? CT trade but looks like it could work.
Darth
I have an idea that I would like some feedback on from the regular thread members here. I have followed a decent number of price action threads and websites for the past year, as well as running this thread. There is a common theme I have observed which is that due to the low frequency of high quality setups that occur, discussion is usually 10-20% live setups and setup analysis, and the rest is just people disappearing until the next analysis or hanging around and talking fluff. I find the pace extremely slow and somewhat boring. It’s not in our control, it is a direct function of the small number of tradable currency pairs, and their strong correlations to each other, combined with the somewhat strict nature of price action trading.
With that being said I would like to open up the thread and allow posting of equities found in the major markets around the world such as the S&P and DJIA. The price action works exactly the same way, no matter what is being traded. I would keep the charts of equities TFs to daily or higher. It would be for the sole purpose of having more frequent live trade analysis and setup posts, and thus be more rich in PA educational content. Any discussion on how stock trading works, brokers, options, futures, etc would be prohibited. The main value of these kinds of threads is the education of seeing setup analysis and charts, I think anything to help increase that will also increase the value of the thread.
I would love to hear comments from others about it.
[QUOTE=“krugman25;596452”]I have an idea that I would like some feedback on from the regular thread members here. I have followed a decent number of price action threads and websites for the past year, as well as running this thread. There is a common theme I have observed which is that due to the low frequency of high quality setups that occur, discussion is usually 10-20% live setups and setup analysis, and the rest is just people disappearing until the next analysis or hanging around and talking fluff. I find the pace extremely slow and somewhat boring. It’s not in our control, it is a direct function of the small number of tradable currency pairs, and they strong correlations to each other, combined with the somewhat strict nature of price action trading.
With that being said I would like to open up the thread and allow posting of equities found in the major markets around the world such as the S&P and DJIA. The price action works exactly the same way, no matter what is being traded. I would keep the charts of equities to daily candle minimum. It would be for the sole purpose of having more frequent live trade analysis and setup posts, and thus be more rich in PA educational content. Any discussion on how stock trading works, brokers, options, futures, etc would be prohibited. The adding of equity charts would be for the sole purpose of seeing more live examples of price action trading. The main value of these kinds of threads is the education of seeing setup analysis and charts, I think anything to help increase that will also increase the value of the thread.
I would love to hear comments from others about it.[/QUOTE]
Would be nice to have more setups with analysis.
Great idea! Know what you mean, your observations are spot on. Also, I have been thinking I wanted to look at equities.
Although I would like to know how stock trading works etc (does this tie into your castling stratgies thread?). Why can’t you include that on here too if you are posting live trades, Would you post stuff about that on your own website as I imagine stock trading talk would be prohibited on babypips, is it?
If I do include equity candlestick charts it will only be for learning price action analysis. I want to make sure specific discussion regarding how stocks work, how options and futures work, how the broker platforms and markets work stay out of the thread. I want to make sure this thread stays focused on how to setup and use the Forex broker platforms and how to apply price action to trading. If I do see a big demand for stock and option specifics I may decide to open up a thread for it or add it to my website. The problem is I primarily trade equities through stock options which trading them correctly is very complex. I’m not sure trying to teach something that complex is a task I want to take up, but there is an endless supply of stock, options futures tutorials that exists mostly on broker websites and investopedia.
I don’t believe stock charts are prohibited on babypips. I have seen them posted in other threads on the site. I believe many popular stocks can now be traded through CFDs, the same way commodities and indices are traded through Forex brokers.
I have even contemplated barring discussion of broker and platform related discussion here. At the end of the day if you can learn how price action works you can apply it to any investment vehicle you want, and you can learn how any type of market or trading vehicle works through google. I’m happy though that we have limited all of that discussion to FXCM, it helps keep discussion focused.
[QUOTE=“krugman25;596452”]I have an idea that I would like some feedback on from the regular thread members here. I have followed a decent number of price action threads and websites for the past year, as well as running this thread. There is a common theme I have observed which is that due to the low frequency of high quality setups that occur, discussion is usually 10-20% live setups and setup analysis, and the rest is just people disappearing until the next analysis or hanging around and talking fluff. I find the pace extremely slow and somewhat boring. It’s not in our control, it is a direct function of the small number of tradable currency pairs, and their strong correlations to each other, combined with the somewhat strict nature of price action trading.
With that being said I would like to open up the thread and allow posting of equities found in the major markets around the world such as the S&P and DJIA. The price action works exactly the same way, no matter what is being traded. I would keep the charts of equities TFs to daily or higher. It would be for the sole purpose of having more frequent live trade analysis and setup posts, and thus be more rich in PA educational content. Any discussion on how stock trading works, brokers, options, futures, etc would be prohibited. The main value of these kinds of threads is the education of seeing setup analysis and charts, I think anything to help increase that will also increase the value of the thread.
I would love to hear comments from others about it.[/QUOTE]
Sounds great to me, I’ve always wanted to learn more about equities etc so will look forward to it.
Yes Aaron, there is but one market, not sure about the complexity of one aspect over another, the market is only as complex as we perceive it to be.
In truth, it is very simple, there is nothing complex, absolutely nothing that cannot be learned.
Haha, well that makes for a good fortune cookie message or a sales pitch to unsuspecting newbie traders. There are trading vehicles that are far more complex than others. It’s not any different than comparing simple math to calculus or as a programmer writing a “hello world” program vs. writing a program that models the earths weather patterns. Only go as far as looking at how to price of your trading vehicle is calculated. If you buy Forex pairs its pretty simple, your holdings price = current basket price(A = B). Compare that to calculating options prices(below)
This only covers price calculation, that doesn’t even look at multi-option strategies like straddles, strangles, condors, etcs. It also doesn’t cover understanding the greeks(delta, gamma, theta, vega, rho) to know if the contract you are buying is high/low risk, good/bad price, etc. Again far beyond the simplicity of trading where A = B.
I’ll take it one step farther and say the number one cause of new traders quitting is discouragement. The same discouragement that comes from telling a new trader how simple and easy trading can be, and after much heartache, blown trading accounts, and thousands of dollars later they realized how full of crap that statement was.
Sorry to be so blunt but it’s these types of sensational comments that cause people to get in over their head and/or blow their hard earned cash. You are obviously entitled to your opinion, but in this thread we are sticking to the realities of trading.
I am getting some good feedback so far! I have 6 stocks that I am looking at right now that I may pull the trigger on and I was hoping I would get a good consensus here so I could post the charts. I do want to make sure though everyone knows I wouldn’t be discussing the trading vehicles, platforms or techniques I use to trade stocks/options. I want to use it to show that price action works in any market with enough liquidity and volatility, and for more opportunities to look at fresh setups. I don’t know about anyone else but I always hate looking at really old chart setups. I always liked looking at setups that just took off or just hit profit. I will wait another day to see any other members opinions, but I may have a chart or two up his weekend.
I would be very interested to see some charts mate. I have been told that PA id the same in pretty much every market but have never really looked into it. I’ve been thinking about demo ttradig some stocks to see how I get on with them
Really interested in any initiative can improve my learning curve on PA.
Thanks indeed for your efforts.