Pure Price Action For Dummies

I hear you there nikita I have read on so many posts on scams and thought to myself this is not a scam your just an idiot lol. But at the end the ultimate goal is to trade opm (other peoples monney) you will get that as a mentor but I do see it being a bigger pain that it is worth. Just start with a small account and double it then take your original investment out and you have the same thing at the end of the day :slight_smile:

lol I just did a google search on you nikita all I found was your facebook so I sent a friend request see if you can figure out who I am lol

dig deeper youā€™ll find interesting stories or should i sayā€¦ history :smiley:

ok since this is the course then iā€™m staying here and even though i pay nothing but my respect and gratitudeā€¦ i still ask for more.

You Greedy SOB lol

LoL

greed is good. fear is good.

anyway still related to rule #1, when do we consider that for today the bias has changed? yesterday was a sell although we are expecting that today will also be a sell, we actually donā€™t know, do we? now how do we know that, for that day, game has changed? even in daily tf price retraces.
two days ago it was a sell, but yesterday was a buy, now what will be today? if we follow the commie rule, then when do we cut loss and reverse? or we donā€™t at all?

quite honsetly I would either look at a different pair or sit on the side lines. IMO to much consolidation price dont know where it wants to go. Bull and bears are fighting it out. Its the same as 2 really big fat chicks that get into a fight you dont want to be stuck in the middle nothing good can come out of it. Now if you really want to trade the pair then use the sames rules but on a 1hr and 15 min TF. Works just as good but with a little more noise.

hahahhaha

seeā€¦ i still have that rambo attitude. i didnā€™t even consider to stay aside.

Bobmanincā€¦RMā€¦is that u??

Should have taken a holiday ā€¦ :smiley:

Same principle Villian. If you look at H1 for entries and be patient, you would not go amiss by much. Still collected decent pips yesterday.

The same patterns happen there also.

Its all in a notch at the moment so confidence level of saying its a buy today or sell today is not there.

With that being said, If the candle stick pattern on H1 points for a sell, then I would probably skip. If it points for a buy then I would enter, provided my SL can be about 20 plus or 30 pips.

On the part where you have marked after three days of following commie rule how do we know the other two days are different??..cause we buy on a LL and sell on a HHā€¦so with that being said, if we pay attention to H1 on those days we would have seen there would not have been valid entries to short.

( p/s H1 today did give a buy signal. couldnt take GU cause it didnt tell me it was gonna go up. It just shot up. Got in on AU and EU ) .

EU HI

Z

Arrows marking clear opportunity candles.

Thumbs marking what looked like opportunity but was not.

I skipped the thumb entry yesterday because it was between asian and UK start. It always doesnt pay trading those hours. So I waited for another signal.

Took both on AU and EU on the next entry. Again, if its a good valid signal then it will show on the other pairs. Its called Correlation. :smiley:

Not sure of the D TF bias so reduce risk by reducing lots and still make some money. Mind you I only took that one trade for the day. It pays not to be greedy.

Finish the day then let it do what it wants. Wait for next D TF Candle. Market will move up and down. Cant catch it all.

EURAUD H1

Exotic pair, high spread ( 7 pips ). Very good pip load.

Holding total 250 pips now.

Look at its D TF chart. Would be silly not to short this one even though I dont trade exotic pairings.

Agree with Bobmanincā€¦look at something else or stay out.

(p/s first time holding 300 pips with big lots. Hahahaha even looking at it is tempting me to cut and take! )

By the way todays buy has ended for me. I hope the market comes back to its senses next week. Its really tough making a buck under this conditions. Atleast the way I trade it is.

Thanks for all the posts guys! Pipping and learning!

Nikita, Iā€™m gonna add you too, if that is ok. My first name is ā€œSimenā€.
Also, what does ā€œpip loadā€ mean?

I used to use that FB and YM to give out signals. Those were the days when I started making some good entries but based on a different system with indicators. Just to satisfy my ego that I could trade I guess.

Dont do that anymore.

That profile is not that active anymore.

will you ever do that live trading session?

Who was it that suggested we have a room in Babypips chat ??

Was there for a couple of days last week and the week before after the suggestion was made. After watching for a few days I think it will be a damn bad idea if you ask me.

Reminds me of the classes we use to have on paltalk. Was difficult to get anyone to shut up. LOL :smiley: Everyone had something to say. And everyone was eager to show that they knew what they were on about. Didnt realise they wouldnt be there if they did.

Its also very tough to get one person to talk at a time so that their question could be answered satisfactorily before the next person gives it a go. Everyone keeps butting in regardless whether its on topic or off topic and it all gets messed up cause no one understands anything after that.

Then of cause you have the newbies. Who come in and then screw the entire thing up by either

  1. going back to what has been repeated a hundred times before.

  2. come in and make some grand statement that the mentor has got something wrong. And then waste a week trying to prove a point. They forget they were there so that they could finally learn how to make a few pips. I know that they not making anything cause if they were they wont be on that group in the first place.

Finally as all things evolve or shrink and die, the paltalk group died, me and a few more moved on to private YM with our mentor where we progressed on with the lesson/support.

Last I recall only two of us survived the nearly two years worth of assistance we got. Me and another guy from UK.

The rest could not see past certain points / levels or were psychologically never trader material. It all comes down to our personality at the end.

You might be able to follow all there is, but still never make a buck. Tough luck that one.

These days I only have one person called Focus77 as company when I trade. I try to share and help out as we go. Not to say that he needs much help.

I trade mostly between asian and late UK early US session.

oh kummi90, forgot to explain what i mean by pip load.

im going to have some definition fundo offended by my loose terminology but I never been one to be so politically correct.

What I mean by pip load is the number of pip per candle or per hour.

GBPJPY for an example has traditionally been a pair with a big pip load. It moves a little and you can see the pip count as 50 or a 100. The last one week, the pip count on AU has been very heavy. There were no SLs less then 50 pips. Thursday and Friday was USDCHFs turn. Didnt take a buy on Friday cause the SL was huge. Should have. It gave a good payout.

So I hope you get the idea of what i mean by pip count.

Each hour candle can be as high as 60 pips.

hahahhaha i can imagine the confusion. i too on paltalk with some other traders, occasionally we do share some knowledge and insight. but most of the time we just boo and woo the price and swap some dirty jokes LoL imagine how surprised and disappointed i was and some other noobs joining to learn to trade.

ok thanx for adding me up. i usually online 24/7 and trade on UK and US session. GMT +3 here in africa

huh i just realized my previous post got edited for solicitation. anyway thereā€™s a free messenger aplication with group chat and screen sharing facility. thus you can show your trading process

http://forums.babypips.com/newbie-island/40165-something-about-compounding-i-dont-get.html

Good read on compounding.

Ok, so you trade this method from 3pm GMT+8 (which is 5pm GMT+10 my local time, New York 3am gmt-3 (at the moment because of DST), 7am GMT, London 8am gmt+1 (dst).

Placed a line on todayā€™s open EUR/USD at 1.4266 (see chart yellow line), price went south for awhile, formed a hammer / reversal candle, price has crossed the line contintued to rise for the next several hours .
When do you place your line crossing trade? As soon as the candle that crossed the line closes? If so, then you make this trade way before 3pm gmt+8.
And this is the trade that one holds for the next 40 or so pips?

Do we buy on retracement to the daily open area, LL areas?

What size lot is best to start at?

Thanks again for your time and assistance, hope you have had a great weekend!

Tom82, I think this is the third time in this thread im repeating this, Dont take the opening price line thing literally. It was made to make a point. So that you could see what I was meaning by candle formation on DTF.

Now you placed a line on day opening. That is fine. But do you know which way the bias is going to be today??

I dont. So what do I do when I am not sure of Bias?? I dont trade. Why was it not a buy today since it was a buy on Friday??

Because today is a Monday. New week, new weekly candle. It can go either way. Unless its clear on what its going to do today I dont trade.

Now again going back to your line. You had drawn a line, fine. So since we dont know whats bias so we dont know where its going to end, what do we do??. Well we can trade candle patterns on H1. We wait for a pull back or a rejection candle and then enter our trade.

So we have a pull back or hammer candle two hours ago on our H1 chartā€¦ Normally if Bias was a sell and I see this candle I would sell.

Now we have a nice pull back or price rejection candle at that level on EU but I dont sellā€¦why??

Because its bank holiday for entire Europe today. Regardless what the bias or pattern says, you are not going to have movements because the big players are not going to be doing business with the banks. No one is going to be exchanging money from one form to the other. Retail speculators are not market movers.

So what do we do on a day like this??

We dont trade. We sit back and do what ever that is that we do but we dont buy or sell. Maybe US session will give us another entry, but until then nothing happens.