Hi Aaron. I appreciate the effort you have made in putting this thread together. I am just sorry I have arrived at the tail end! I have spent a lot of time looking at other threads and my head was spinning with the amount of information. I have decided to stick to the lessons in your thread exclusively for the time being in conjunction with Daily Charts. I hope that this will give me a good grounding if I decide to use intra day charts at a later stage. At the risk of making things a little more complicated for myself could you please advise of any price action books that would be worth reading in conjunction with your thread. i.e something not too cumbersome but would complement some of the teachings of your thread. E.g?? MARTIN PRING ON PRICE PATTERNS; JAPANESE CANDLESTICK CHARTING TECHNIQUES BY STEVE NISON. Thanks again for the good work and best of look with your other Ventures. All the best. M
Hey Michael, thank you for the kind words. I think you will be best served by the information here. You will find that most mainstream price action courses are all spinoffs of the James16 thread, or spinoffs of spinoffs. Because they are all copying each other you see the same nonsensical rulesets over and over, although if you try and ask why a specific rule is important, you wonât get an explanation. It all falls back to a guy making a couple million selling memberships, so someone else comes along and copies it but changes some of the terminology to try and duplicate the profits, thus you have the same rules and methods regurgitated over and over again. I approached price action trading with the mindset of âquestion everythingâ. It was after studying a half a dozen or so price action teachers I found out they all were copies of each other with minor terminology or rule differences. You will find how I approach price action disagrees a lot with most other price action gurus. For example there is very little advantage in using a specific candle closing time, other than keeping consistency among a group of traders. Or why does a pinbar suddenly become worthless if it closes 1 pip outside of the previous candle. I buck the trend with a lot of mainstream price action ideas, primarily because my rule-sets are based on live trading experience rather than a copy and paste from another PA guru. I really need to expand my library of trading articles, but what I have so far will really help get you started.
I unfortunately canât suggest any PA books because I have never read one before. Everything I know from PA trading has first come through trading experience, and secondly through reading various online articles. I have spent some time in various internet trading forums such as babypips and forexfactory. I have spent a lot of time studying price patters from websites like Bukowskis patterns site and others. I wish you the best in your trading journy!
Thanks again Aaron. You are very generous with your time. And always a bonus when somebody else has done a lot of the hard yards! This makes life a lot easier for us novice traders
Over to me now to start studying the charts. Itâs definitely not an easy road but I am beginning to get a feel the type of trading style that will suit me.
Cheers!
Please keep us updated here on your progress. The best way to get good at PA trading very quickly is to micro analyse every trade you take, whether a win or loss. One of the reasons I became a profitable trader so quickly is because I brutally scrutinize every trade I take and all of the decisions I made while the trade was live. Even on profitable trades I look back at any ways I could have bagged more profit. Doing this hundreds or thousands of times will help grind off all of the rough edges in your trading habits and you will start to see good consistency with your trading results.
What also will help are looking at our trade analysis examples, which this thread is full of. I have linked to some of the best ones in my quick nav section on the first page. If you can keep seeing what good price action setups looks like, you will train your mind to see them when they show up in live trade.
Hi Krugman25,
I saw your thread today, and I was very pleasantly surprised that your trading style is almost 1:1 with myne that Im trying to trade. Im from 1,5 year on the market, but just from a 2-3 months with price action trading, and I still learning.
If you allow to ask you a few questions about the candlestick pattern, I thing may be useful and for other traders.
I trade only with the trend direction, and only a Daily TF, so the problem- very often when I have pin bar or inside bar ( or doji, yes I trade also doji pattern), and they are at very good level of S&R and the pattern are clear and strong, very often when I set my order below or above the candlestick pattern, the next candle just got my entry and turn back to stopped me out, after that again turn back and go in my right direction, but already with loss. I mean, I know that you canât be only profitable, but this is often, especially with the inside bar setup. So any idea how to filter or⌠I donât know, some other tips with the entry of those candlestick pattern? I forgot to say, my stop loss is always on top or bottom of the pin, and on top or bottom of the mother candle of the inside bar. Generally my entry and stop loss are at the classic place to set it.
Thanks, and cheers!
Hi, Aaron,
Hi, everybody,
I am new to this thread, new to Price Action, new to forex trading actually.
Iâve first started reading about forex at the end of last year, but at the beginning I tried very many different system with very many different indicators. Nothing really worked for me. I lost a lot of time and itâs seems it didnât get me anywhere. I went through all of babypips school and learn a lot.
I understand now that the system doesnât really matter. What is really matter is yourself, the way you look at the market, the way you master your emotions. Price action is the best way to go after you first master yourself. I understand this, but canât quite do it yet.
I read all of your quick navigation section and part of the thread (i didnât get through all of it) and I want to thank you for all the quality information and for all of your time spent so that people like me have a place where we can learn PA for free.
I donât have a lot of money and I am saving for the moment when I will be ready to go live with my one money. I donât want to buy a membership somewhere because I better use that money for trading when I will be ready.
For now I mostly demo. I have a live account with a small amount that I received as a bonus form a broker, but I am already 50% in drawdown with it. So I stopped trading it and got back to demo.
I initially found the other Price Action thread and started following it, but as you said itâs seemed quite limited and I wanted more. I even considered joining the membership. But after a closer search on google and a review from ForexPeaceArmy I dismissed that ideea and Iâm glad I did because I found your thread and I so agree with what you said at the beginning of the thread about the salesmen that they are all the same and that they all copy each other and that they all sale the same information that you can find for free if you look close enough.
Once again THANK YOU for everything. Sorry about the long post (I know you donât have much time).
Good luck with your business and with your trading!
Regards,
Ada
Hey everyone,
First off I want to thank everyone for providing an insane amount of info in this thread! Iâve been studying price action from all the usual places for a few months now, but this is by far my favourite thread so I hope you guys donât mind me sticking around and discussing set ups that I find.
Greetings from Australia,
Steven
Anyone short NZD/USD
Daily pin bar formed at a downward trending resistance line
Too risky at these levelsâŚ
I just bought a new notebook PC. Does anyone know whether there is a 64-bit version of MT4 for use on 64-bit Windows 8.1?
Thx./Henry
The 32 bit MT4 works fine here on my 64 bit lap top.
Thx bro. Yes, I know 32-bit MT4 works on 64-bit PCs, as do many other 32-bit software. But they donât take full advantage of performance that a 64-bit machine brings.
I think MT4 is available only in 32-bit version, unlike MT5 
You were correct. Why did you consider it risky at these levels?
Hi guys
After reading Mr. Aaronâs and Mr. Jonathanâs thread, I seem to be stuck at my progression in learning. Not quite sure where to go from here. Charts seem to me now as messy, random and unpredictable.
My plan moving forward is to clock in chart time by:
- plotting s/r and trend lines
- watch out for pa signals and patterns(esp the funky ones that im not used to like morning star)
- use fibs when applicable,
- use ema, volume.
Iâll see how price reacts to them.
I will also be looking at Mr. Jonathanâs thread but using Mr. Aaronâs methods to confirm the signals the many thread members are posting frequently.
As a uni student taking a finance degree, I want to work in a trading related job in a firm when I graduate(who doesnât?). However Iâve been inundated with information telling me about how hard it is to succeed. Iâve come to the conclusion that you have to be Einstein or already have a background in trading, which I am trying to build cause Iâm no Einstein.
Made this post to sort out my thoughts and also to share my thoughts with the community. I do appreciate your negative or positive feedback 
You have to keep it simple and stupid!
Try honest paper-trade (as if it were really your money)
Make a critical register of all trades.
Decide the time frame and the asset.
Search other occupation.
If you opt for this, good luck.
You will need!
Youâd be better off studying economics and applied mathematicsâŚ
You make a good point. As you can see from a 1-minute chart below of the recent ECB announcement thereâs definitely a correlation between Real Volume (top), Tick Volume (middle) and Transactions Volume (bottom).
However, there is a notable difference when there is a large spike in real trading volume. The problem with tick volume is that it has no way of showing when a huge amount of volume trades at a single price, since that would be counted as a single tick. Real volume indicators can thus provide a more complete picture during major news event like this weekâs FOMC announcement.
This is a fantastic iniciative!
I think all trader will search other occupation, because they will never win in forex.
Nice to see Transactions Volume.