As I know, price action strategy is usually used by naked traders to make analysis what will happen in the future from candlestick pattern. There are many different pattern of candlestick to make prediction for trending condition, reversal condition or sideways condition. It will need a lot of experience to recognize the candlestick pattern well so don’t ever trade without good money management.
Bearish
Talking like a pro! We use basic 6 candle stick patterns in combination with SR levels and the bpc pattern to set up the trades. You can find all information about this way of trading in this thread.
It sounds easy but it need some practice to make it work.
Hi to all,
Anybody with a good plan for this week?
MikeCa,
Nice serie You never loose a trade?
[QUOTE=“TC Holland;692275”]MikeCa, Nice serie You never loose a trade?[/QUOTE]
Always. I just am in between losers.
Hi MikeCa,
Very impressive results, hope every one of us makes good amount of pips like you.
Sold eur usd @ 1.0807 and manually closed the trade @ 1.0668 for +139 pips
Sold eur gbp (bias is down I believe) @ 0.7241, sl : 0.7163 (just above my fib 38). Tp @ 0.7241 (above fib 127)
looking to short GBPJPY
I am not sure about bias but trend is down I think you mixed up some numbers I cant make sense of it TP is same as opening price
Pending order triggered and TP hit as well. Made 62 pips and 96.59 Profit. Demo account now on 5218.66 euro
SL was about 29 pips Good 1R:2R trade Position size 0.2 lot with 29 pips SL this was less than 1% of account
It shows that your account is growing gradually, when you plan your trade before the setup and stick with your plan until close , your account can only grow.
Big pips! If you had a SL of 50 pips it is almost a 1R:4R trade. Nice!
Congrats on the huge profit. I also made a couple of hundred last week. I think that right now from a price action perspective, anything traded against the USD is becoming too predictable, especially the EUR. But I could have said the same about the CHF before that big plunge in January, so I guess you never tell when the surprise is going to happen.
Hi middaytrader
You are 100 % correct, market is random we are just predicting that price will move according to our plan. For random market we need to protect our capital by placing SL in every trade. When price hit our SL then no more trade, wait for next opportunity.
Yes, you are correct my numbers were wrong. Any way my trade hit sl for -22 pips.
I though that the bias was down, bit I was wrong. well you keep learning.
Thanks for the feed back.
22 pips is a good and small SL. I hope your loss is also small
I was not sure about bias and wait for trading Right now it is on my level to go short but bias seems to be up See what the signals go to tell me