Yes you are correct, they are still forming. Lets say that the 4hr and the 8hr candles closed looking the same, would you then consider taking the trade or would you wait for some other confirmation?
How about when the 4hr closes out in 20 min looking the same? Just trying to get a sense of how to think about these.[/QUOTE]
Hi JPW
I’m hoping you haven’t entered into the trade already. I wish I could comment on the signals as they are now but I am away from my pc and so have no clue about where the RS lines are.
Now this has got nothing to do with Pa signals or levels,but recent rallys have caused a lot of trigger happy traders to take positions.
Simply because they want to be part of all this momentum,you can guess the outcome.
Choppy markets occur mostly in times like this but won’t last long. So stay sharp and do what you would normally do and don’t take positions based on assumptions that are not justified by a clear market structure,decent level and PA entry.
[QUOTE=“Kasravi;555574”]Hi All, Now this has got nothing to do with Pa signals or levels,but recent rallys have caused a lot of trigger happy traders to take positions. Simply because they want to be part of all this momentum,you can guess the outcome. Choppy markets occur mostly in times like this but won’t last long. So stay sharp and do what you would normally do and don’t take positions based on assumptions that are not justified by a clear market structure,decent level and PA entry. Cheers[/QUOTE]
Thanks Kas, I would second this post. It’s too early to be jumping in on some of these pairs. I saw people taking positions just a few hours after the big moves. After these big impulsive moves most PA signals are just taking profit candles. We are looking for steady pullbacks to get into trades not huge jerky movements like we saw yesterday. I believe that most price action traders are successful and know how to find good setups but throw away all if their profits by taking trades that have no edge and are extremely risky. Most losing PA traders, if they simply stopped trading poor conditions, would be enough to push them from consistently losing to consistently winning.
Hi,
I decide stop posting my setups, comments and in general read any threads or education webs. Don’t take me bad I think that people there are awesome but in retrospect it seems to me that reading these posts push me back. In my eyes trading is lonely job and trader should be self-confident. Last 2 weeks I start looking more at this thread and Aaron’s web instead forex charts. I have started doubting about myself in last 2 weeks more than I obtained self-confidence in last year of trading (not great results but definetely not bad). I start looking at Aaron’s current setups and want confirmation from someone to all my potencial trades (like my post about XAUUSD). It is definetely not a good way. I belive that great traders learned from their mistakes and that is reason why they are great. In my eyes it is all about experiences. Basics about price action can googled anyone. There are hundred books about PA. Aaron write great articles but nothing epoch-making. I think that people there are great and know what is PA trading but they falters and this thread falters too. It is probably because Aaron want move people from this thread to his web. I have nothing against it but he stopped guide this thread. Now everybody welcomed newbie who don’t know what is pin bar but he wrote that he want to be PA trader so everybody is happy that there is someone new (I have no problem with that). What suprising me is that if someone post his setup there is no view or answer. There is discussion on 5 pages about broker or I don’t know. People, you can find it in 2 minutes if you use google. If there is someone new and don’t know what is BUEB than there is in my eyes only one solution … tell him to go to another thread. Aaron have thread “Price action for beginners” or something like that and there is almost nobody. I don’t understand this mentality. I read tens book about trading and still think that I know nothing. Why do you want waste your time and explain basics to someone again and again??? If you have basics but you will still welcomed newbies and tell them basics over and over again you can never move forward. You are there to basically improve your skills not someone else. Aaron is mentor he wants improve skills of someone else. I want to be trader not mentor. We should talk about our trades and what we think about it not talk over and over again about what is pin bar, broker and I don’t know. I know what is pin bar and don’t want to talk about it I want to know what advanced traders like you think about my trades.
So in my eyes this is still more teoretical than practical thread.
But how I said it is only my opinion. People there are great and I belive that you can be great traders. But you should be more critical and should want to go deeper to trading problematics and you can do it only talking about specific trades. Maybe you have lot of time but I don’t want to wait until Aaron write articles about everything and then we maybe start talking about live trades. You don’t need to use MA in your charts only because Aaron use it. It seemed to me very ridiculous when Aaron start talking about flags pattern and everybody start looking for flags even if they never use it before.
Trust yourself. Be self-confident. Be critical. Be trader.
I hope that I make good decision. I want trust again myself and not someone else.
Good luck in trading for all of you
Bambi
It’s unfortunate my 2 and 5 year old are better at following directions than some of the members on baby pips. This post has been reported for cleanup and a request for banning from this thread.
I want to comment on this and anyone else who wants to try and derail this thread in the future. This thread doesn’t serve as a soapbox for anti price action and anti teacher rants. It’s sole purpose is for teaching price action, period. Your comments insult the members here trying to learn. Just like you have come to your own conclusion that this thread is no good, other members have come to the opposite conclusion that this thread is of great value which is why they are here to begin with. You are entitled to your own view, but you are not entitled to forcing everyone else to sign up for that view. This is also not the place for you to air your views. Can you imagine if any high school student who didn’t like the teacher or topic were able to stand on their desk and rant about right in the middle of class. It sounds pretty ridiculous right? What you are doing is no different.
This thread has become more than a learning thread, it is a community. Many of the price action teachers here starting their threads while already have their own websites jammed with price action information. They already had their methods laid out and were able to just copy and paste their website articles into their threads. I haven’t had that luxury and have been carving it all out of rock since I started these threads 2 weeks ago. What has been produced here has been of great quality, and anyone who has spent any serious amount of time knows I am not going anywhere and that there is plenty more great learning articles and videos to come.
You must have had some bad trades and you’re feeling a bit down and this is understandable. I wish I could have helped you a bit more but I am not yet able to improve anyone’s trading, that’s why I don’t comment setups much unless it is something I know for sure. I agree with you on one point. It can get quite confusing to read all posts on various threads and it can sometimes put you in a situation you don’t want to be while in a trade, feeling doubtful. I therefore decided very recently to not post about trades I just entered but rather avoid discussion while in a trade and come back once done to do the analyse with all the helpful people you can find in here. I think that this could be a less radical and surely better option for you as well. Think about it. If you are gone for real, then I wish you good luck in your journey !
Agree, Yves. There’s a reason why I was very eager to go to Newbie Island at the beginning, because to be honest, I barely got the idea of 5 stars system back then. Even now I still haven’t fully grasped it, and it makes me a little sad that as much as I want to help the other members, I am really not on that level to help them without confusing them even more. Or at least not from Krugman’s standard as far as I know.
You make me scared, Krugman. And I’m being serious here as I have never seen you like this before.
All in all, bambi sounds radical and may even disrespectful to all your hardwork, Krugman. But just like Yves, I agree there are some degrees of truth there. We do have Newbie Island, but things are much slower there. I don’t complain because I do want things to move in easier pace there as compared to here so that newbies won’t feel overwhelmed with the huge amount of PA from every direction.
I also agree with Yves that ‘it can get quite confusing to read all posts on various threads and it can sometimes put you in a situation you don’t want to be while in a trade, feeling doubtful.’ We cannot simply shrug it off and expect everyone to accept it. However, the babypips thread is linear, so it’s actually a strawman argument. We do have PA M2M forum thread that is now up and running. There the discussion about PA can be more specific in each own sub-thread, so people can discuss about PA without easily feeling doubtful.
All in all, I see a huge potential in M2M community, that actually strengthens my faith in Krugman and M2M community instead of losing it.
Just my 0.00002
PS: I know you are upset right now, K. But I am kinda scared when I see you somewhat lose your cool. And coming from someone who has been angry all the time this last few days himself, that means something.
I do genuinely understand the concerns but again this thread has only been going for 2 weeks. I said from the beginning that it will take me a couple months to lay out enough articles and videos to get people good understanding for what I am teaching. For the topics we discuss that members understand I encourage them to participate in discussion, but if it is a topic that isn’t understood they are more than welcome to ignore it or pass on it until they understand it better. If members are ok with that then they can watch for those articles and videos as they come out every other week, if they want to move onto a thread that has a more complete rule set and information base, I am ok with that also. Although some people can’t simply move on, they have to make a big scene about it.
It may seem radical but it really isn’t. When I was banned from Johnathon’s thread it was because I had been posting some charts with unapproved indicators, and lower than approved timeframes. While some may say that was too extreme, this is the reason Mr. J and other thread starters here have such phenomenal and on topic threads. I was blessed last week because I had almost the whole week off from work, so I was on my threads a lot. Now I am back to my regular work schedule and can’t be wasting the little free time I have trying to put fires out and bringing the thread back on track over and over. I need to be using that time creating more learning material so people can understand better what I am teaching here and also making sure I am answering legitimate PA question and providing chart analysis in my threads. I have already laid out that there are proper ways to ask questions or air concerns, and posting in the price action thread isn’t one of them. This goes back to the high school illustration, if any student could interrupt the middle of class because of a disagreement, then school would essentially become useless. The same applies to these teaching threads.
As I have had to say far too many times in the past 2 weeks, but I will say it again, back to the price action!
Okay, I don’t post a lot mainly because I consider myself a newbie, especially to PA trading. I’ve been trading Forex for about 1 1/2 years now on a micro lot account and have at least managed to not have lost all my account. I’m still down from my original investment, but since trading PA I’ve slowly been gaining ground back to my original investment.
I started following the same thread as most that are following here and I mostly respect everyone from the threads I follow. The threads I follow are PA forums NOT SIGNAL SERVICE forums. What’s the old saying, give a man a fish feed for a day, teach him how to fish and he can feed himself ? I have entered trades that were contradictory to what others have posted and some I have lost and some I have won. What I have learned is that you should be entering a trade because THAT YOU SAW A SETUP AND FORMED YOUR OWN REASONS TO ENTER. It’s great to get thoughts from others on a trade, but ULTIMATELY, IT IS YOUR MONEY ON THE LINE AND YOU ARE RESPONSIBLE FOR IT.
I like the fact that people put their trades here and the reasoning behind them. Now that I have an understanding about the basics it helps me be more critical of my trades when I look at others’ reasoning for their trades. I appreciate these because I have learned from them and would like to continue to learn from them.
Anyway, that’s my thoughts on these forums. To all who are posting PA related posts, I thank you and I look forward to more of them and hope to be making some myself.
Thank you for writing this evilcrust. I think what you are saying is hugely important for beginning trader to understand. That’s why I created a set of rules for posting trade setups, so posts have educational value and not a post that only says “what does everyone think of this setup”? I think trade setups should always be posted with some sort of analysis so they have educational value. Thanks again for pointing this out.
I’ve been watching this one all day: EURJPY on different time levels looking for the right place to enter to help make my R:R better. I have just taken it as it has retracted quite a bit. There are a number of set ups to short this:
2BR Reversal followed by a pin bar on the dailys
I first noticed this nice pin bar this morning and have been watching it since:
Pros:
At a possible flip zone
Multiple signals
Potential for decent R:R
Cons
Against the trend
News due out of Japan later tonight
4hr Pin Bar now in traffic
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Totally my opinion but I would absolutely not be shoring EURJPY now, I really believe this pair will hit the 140’s before too long so I am looking to long on the earliest chance
Thanks Eternal, that’s very interesting and a bit worrying. I try not to assume which direction pairs are going to go and try to let price action guide the way. You may be right in the long term but for me the signals point towards a sell in the short term. I hope I’m right otherwise the Trader 3000 will be back in use.
Sorry I haven’t commented on your 12 hour pin bar, I don’t have the 12 hour charts.
This is a pair I am eagerly watching for price pullbacks and PA signals in all TFs. We saw the result of 2 weeks of price building up which were 3 days of huge explosive bullish moves. When price moves this far so quickly it’s important to watch price begin falling back as the traders take profit and go out of their long positions. Sometimes price will fall back to key daily levels but in pairs that are in such a strong trend, more often than not they find support at minor intra-day S/R levels. Traders can watch for daily price action off of the 8/21 EMAs, or for those of you who trade intra-day be watching for low TF price action candles of the most recent support @ 1.4300.
Pairs like these can offer good price action signals, at low time frames with great RR opportunities. They are also inherently safer than range or trend trading because as price pulls back there is more demand behind the position you are taking.
Now I’m not a big fan of chart patterns like these,but once they come in confluence with what I believe might be a puffed out up momentum they serve me right.(and I know you guys utilize them in the correct way too)
That look to me like it’s going to crumble any time soon.However there is no certain entry yet but I have a sharp eye on fibre to jump on a correction/reversal once a decent PA presents itself.
