… and with that kind of thinking, you should stop using Wikipedia then as Wikipedia also regularly asks for donation from its readers from time to time. [B]You know, despite its claim as ‘the free encyclopedia’??[/B]
But please, if you still don’t like the way Krugman maintains his thread and website, by all means you are free to leave and start your own Price Action thread yourself.
Yes, I know your idealism, Krugman. I still have faith on how you are managing your thread and website. Free of charge.
Still, I also believe that [B]sooner or later you will draw the line[/B]. From our old conversation, you once told me about the plan of founding an investment company yourself. That will be the time when you start charging money for your service, because it will be your business plan, just like how your wife’s uncle does his business.
I don’t say that’s wrong, because I’ve told you before that I also have the similar goal of founding a successful investing firm myself in my country in the future sooner than later. Just like SkyHigh pointed out earlier, it’s better to be upfront about this in the very beginning before people here begin to get the wrong ideas about you, Krugman.
Respectfully,
wm247
My thoughts were to go long directly since it closed above S/R and for all other reasons I previously said,
Unfortunately I don’t feel confident enough about my analysis and that’s why I posted here for thoughts and comments and still wish Aaron and others will give their opinions.
For now I will trade this on my demo account
Have a great weekend
If it doesn’t fit you there are tons of others threads in this forum right here (let alone the internet), please don’t feel you have to come and criticize a man in his own thread
People like that, you can sense the resentment in their tone, that somewhere along the line, they were outsmarted and didn’t handle it well.
People learn from their mistakes. Smart people learn from the mistakes of others. Some people…just don’t learn.
Hi Krugman,
some people -like me for example- still prefer seeing a clean chart as opposed of having more and more indicators thrown in the chart for many different reasons. It will be a good idea if we also have a subthread inside your Web forum. Maybe a specific thread like ‘Raw-Naked Price Action only. For clean chart lovers. No indicators.’ or something like that. 
Now, before anybody here starts gathering in front of my door [B]with torches and pitchforks(!)[/B] for my blasphemous suggestion, also remember that Krugman intends his community to grow as [B]a one stop shop for everything you will need to go from day 1 to successful Forex trader[/B]. Let’s face it, lots of us here came from Johnathon’s thread, and his method basically encompasses another school of thought different than the one Krugman embraces here. Remember my argument about [B]PA Purist vs PA Minimalist[/B]? It will be nice if your website gives room for both school of thought to discuss the same trade plan from their typical paradigm as both plan actually work well in the long run. Thus, a specific sub-thread for ‘Raw-Naked Price Action only. For clean chart lovers. No indicators.’ 
I hope you seriously consider my suggestion, Krugman.
LOL, wrong example, he probably doesn’t use it ! 
Hi all,
I have made small changes to the plan:
I added Trading time rules which were already applied but not stated, incorporated the volume as a condition to place an order because I believe it matters and finally, I added the trade closing rules which I thought was a key element missing as I experienced it on each single trade last week.
I updated the post that the quick navigation refers to accordingly.
Yves
Besides wm247 suggestions, I think it would be nice to see a threat per pair (i.e. one for EURUSD another for AUDUSD etc).
I dont know how you want to work out your forum mate, but what about if:
-as I said, a threat per pair where members can discuss potential PA signals (compulsory to upload a graphic with analysis)
-somehow regulate the useless chit chat (non PA related discussion)
-a different threat where maybe you can upload useful indicators such as the OCA for MT4 users, I saw another with a SWISS army name or something
-Maybe something call general discussion would be appropriate for threats related to related topics
Anyway just thoughts, cheers mate
I agree with you on that one. A PA-forum with a thread per pair would be fantastic. We are all sitting and doing our own analysis for a pair somewhere in the corners of the world and sometimes when we need a second opinion on our analysis of a specific pair it would be great to be able to skip scrolling through 5-10 pages to see if someone has another idea about that pair.
Great suggestions Venepips! Let’s hope Aaron thinks the same…
Well… i decided to enter when price broke through the upper trendline of the flag and it looks good so far. Price has already broken through a major s/r area which was around 0.8450’s and i’m planning on taking half of the position of at 0.8630’s. I will then let the second position run until stopped out or TP2 at the the projected lenght of the flagpole from the base of the flag at 0.89100.
I will get back to you all with the final results of the trade.
Hey Willy, I see your and others concern about the issue and I understand nobody wants to go down this path just to get shafted at the very end. I have already thought well through this and have an idea about how go about it down the road. I plan on using the same model that is common amongst programming teachers. Which is not charging for information given in articles and help offered in forums, but reserving pay for items for things like video courses or a teaching curriculum. This is different than what you find today in the price action world, because in the programming world the teachers don’t reserve certain topics for paying customers. The topics covered are the same for their pay for stuff compared to their free articles, except you are paying for the format the information is in and the work put into create a much better learning format. Some can learn well by picking through hundreds of articles scattered around, but there is a definite learning advantage having it all laid out in a chapter by chapter format or having it laid out like a college course. And while the topics covered in the free stuff and pay for stuff are usually the same, the programming teachers usually spend much more time giving real life examples in the pay for products. So I feel a balance can be striked between not holding back any topics no matter how advanced, but still creating a value added product that can be sold. Like I have said before, I don’t believe in trying to sell something that can be had on a google search, and I believe most of what I and others teach can be found for free. I understand I probably even teach stuff that you won’t find and that I should be charging for, which I am ok with. If I do want to create a product for people, it needs to have extra value beyond just the information. So if I produced an extensive video course, I would consider that a value add. If people are loving the information and articles, they can stick around because it will keep on coming.
I always find it comical when people complain about donating when they themselves haven’t donated a single paragraph to this thread. It is a strange, and humorous hypocrisy. Oh well, we shall continue on with the learning!
Fair enough
From personal experience, I know how much a good, expanding community with a lot to look forward to (like we all got here) can change to worse when the element of money is introduced/poorly introduced in terms of accessibility.
So, there is a thin line between:
the feeling of getting all the necessary information from a site free of charge, paying only for the ease of information usage/condensed structured content.(seminars, apps etc)
… or the feeling that all the valuable information to succeed is locked behind closed doors only to be unlocked with a payment. Which will sooner or later create a big gap between the two paying and nonpaying parties.
And yes, the site looks good so far I know there is a lot of work to put in for it to be fully functional.
missed a bit of the thread here,have we covered volume yet ?I know it was one of the things on Aarons list.
I would have to commend Aaron for taking the time to organize this thread on babypips and then to go on and start a website. The easy thing for him to do is absolutely nothing! If he chooses to go on someday and charge for things that will be up to him to decide and the individual as well if they want to spend their money. Until that time happens, I am open to learning more of what he has to say. I am a student of this business. The way we all learn new skills is by taking the things that work for us, and leaving the things behind that are not working. The same should apply here.
All the information to successfully trade price action methods is here, or on other free websites such as Johnathon’s or Nial’s site, (excluding their pay forums), or any of the other forums or guru’s you can simply Google on the web. The only advantage of the pay forums is there are moderators that ensure the integrity of the forum so everyone trades the same way. If you don’t conform to the rules, you can be kicked out of the pay forums. You notice I did not mention course materials, or specially created indicators by the forex guru. The reason is you don’t need them to trade pure price action successfully.
Many retail traders lose money in this business is they do not take the time to find a trading strategy that fits their personality / lifestyle, and they do not give the strategy time so they never have a chance at mastering it. Phycology is an entirely separate subject. If you like this thread, you should stay to learn and hopefully contribute when you feel comfortable doing so.
Trading price action strategies off the daily candles is how I trade. It fits my personality / lifestyle. I work about 60/wk and do not have time to read the news or trade the 5/15 minute charts.
I look forward to reading this thread and Aaron’s site in the weeks/months to come to help me learn more in this business that I love.
Good trading to all.
Alright, i promised to present myself some time ago and now i finally have time to it so here we go.
My name is Sascha, i’m 32 years old and i live together with my soon-to-be wife in Stockholm which is the capital of Sweden. No kids (yet).
I currently work at swedens biggest Airport, Arlanda as a training manager for a company with 700 employees (at 7 airports) in sweden and total of 2500 employees in scandinavia (at +30 airports). It is my responsibility to see to that all staff (in sweden) has the correct training as required by authorities, organizations, customers and our company in the aviation business. I am also the one who creates all the training material and trains our instructors. On top of that i am an instructor myself for the safe transport of dangerous goods by air and for all ramp related trainings.
Next year i will start working for another similar but smaller company as an Quality & Training Manager.
Since everyone mentioned their view on religion i can share mine as well. Over the last couple of years I’ve thought about religion a lot, even though i never have been very religious myself. The reason for that is that i do not feel any need to believe in any god or higher being. If there is A god or many gods, it simply put does not make any change in my life since i feel i am responsible for everything that happens in my life myself and i think everything else in the world happens randomly and is not controlled from anywhere. Even though, strangely many things in life add up pretty perfectly when you start to look back at your life which i have to admit is very interesting.
But nonetheless i would say i have a religion myself. My religion is that i think everyone should be allowed to believe in whatever they want to and what helps them in their life’s as long as that believe does not hurt any other being on this planet. Even if my neighbor would believe that there is a man in the moon or a ghost in the tree across the street that should be totally OK with everybody in this world. Whatever makes you happy and gives you support in your life is yours to believe in and yours to keep and cherish. I must admit i have big problems with religions that tell people of other believes what is right and what is wrong, what you are allowed and what not. Everyone is entitled to believe in what they want.
The universe is a fantastic place and the free will is the biggest gift we have and that should not be taken from anyone. As a great writer once said: “Creation of life is the universes way of playing with matter and the universes way of looking at itself”.
My biggest passion in life is investing and trading. I’ve invested in the stock market for the last 10 years and like many things when you start doing it, it’s not going so well in the beginning. For me that was no exception. But over time you get better and the last 2 years have been really good to my capital.
The main reason i came to forex is because of the tremendous possibilities of building your capital without the need of starting a big company and invest a ton of money (except education of course). Another reason is that you always need growth in the world to make money in the stock markets. And growth is like you know not always consistent which sometimes makes it hard to earn money from stocks unless you short them of course.
But the forex market is a much better choice, mainly due to it’s size, volatility and of course it’s not depending on growth. Even if the financial markets crash this is a good thing in forex since you get huge moves/trends which you can hop on. And this is why i am here trying to learn as much as i can. And my goal which i want to reach within 5 years is to be a full time-trader and manage funds for clients. I’m unique with that goal in here right?
The first year i focused on harmonic patterns which i am pretty good at now if i may say it myself. But as any other trading strategy harmonic patterns can be traded in many different ways.
Because i only have limited time to look at the charts (once a day) i looked for a trading style that would fit my schedule and that is why i am now focusing on price action. There are very few harmonic patterns on the daily charts. But maybe in the future i will combine it with harmonic patterns which many people i know do successfully.
That is my “short” introduction. I hope i did not put you to sleep.
Since i am at it. I think i’ve found 1 possible trade opportunity and another good opportunity to look for a possible PA signal.
First of the GBP/CAD, daily. We got a massive 2 bar reversal at a minor support level. I would have liked a bigger retrace down since we have a major weekly support level just a bit lower. But the size of the PA compensates for that. Since we are close to the first resistance area the only logical way to trade this is to enter at a 50% retracement like Aaron teaches (i’ve marked the level in the picture below). This would then give us a risk:reward och 1:2. We only got a slight increase in volume during the bullish candle though.
A huge PA signal on a decent support level, with the trend. So if price retraces down 50% of the bullish candle this would be a trade i would consider taking myself.
The next is the AUD/CAD, daily. Price has come back to a major S/R level which price broke through in may this year. This is the first time price comes back to retest this area. We also have an upward channel and the roof of the channel crosses with the S/R level close above of the current price. Even though this would be a counter trend trade i think it could be worth taking because of the solid level price is getting at. Let’s hope for a big and clear PA signal once price gets there.
Have a great week everyone! Protect your capital, win a lot and loose a little! 
Krugman, website looks good so far. However, I can’t seem to find the register button for the forum. That aside, something to consider, proper handling of attachments, where it opens in a screen wide window popup, similar to what FF offers. The one offered by BP leaves a bit more to be desired.
You probably can guess my stance on the whole issue by now. 
Welcome, Sascha! Ah, Sweden. I’ve been there as a Physicist myself to visit Stockholm and Uppsala. Once went to Stockholm City Hall for my Nobel Prize ceremony… or at least, I pretend I won one and I gave my personal Nobel speech as a laureate myself.
Actually, Krugman has the goal of founding an investing company very soon. And I also want to found my own investing firm in my country Indonesia in the future. That makes you the third one in community.
Don’t worry, maybe we can do professional collaboration in the future. Not just a random chat between strangers in an internet forum, but a real professional business collaboration. Personally, I want to found my investment firm once I am satisfied with the track record of my investing and trading in the long run. I’ve made a good enough return from my investing and trading, but [B]‘good enough’ is NOT enough[/B]. It’s like restaurant business. Unless you really are a good chef and you really are satisfied with your cooking skills, you should never cook for someone else and charge money for that. :mad:
zzzZZZzzzZZZzzz… zzzZZZzzzZZZzzz… zzzZZZzzzZZZzzz… :24:
