Dude, this is for me true inspiration! Thanks for sharing! I will someday, also get 100+ pips in one day. Im currently in demotrading, to find what suits me best.
As I understand you trade price action?
Do you please want to share with me how you did learn the basics of it?
Hi bob very nice to see you here. Yes this thread still going but without the masters. Few of us still hang around just waiting for you guys to come and give us some advice and guidance, but unfortunately all the masters are left.
My SR level for this trade setup
Looking back on it I think it was a little bit a lucky trade It looked like a signal on the 1 hr time frame and lower TF and SL also not optimal placed
Ignore the dashed lines they are part of my onscreen position size calculator using SL TP and Entry lines
I post my trades here because I used the method from this thread You donât have to read all of it only the first 40 pages or so. I also got a lot of information from other sites, babypips school and reading âTrade your way to financial freedomâ from Tharp
In this thread you learn to find a good setup but there is not so much info about Money Management, Risk Reward, managing trades etc These are maybe even more important factors for trading, but you understand that if you read the book
Price action is very important to a trader. We have a lot of indicators these days been stuffed heavily on charts but this doesnât remove the value of simple price action as a powerful indicator. Its simple yet needful: simply study past prices and build an approach to predict future prices. Well, price action often referred to as ânaked tradingâ is so essential to my trade especially the pin bars which tell me if more buyers or sellers are getting on a pair or bullish/bearish engulfing bars which tell me of traders sentiment in the market. One thing that makes price action indispensable is that it is not a lagging forex indicator unlike many other indicators.
I quit manual trading as my discipline and emotion problem.
My EA will replace of me.
I only trade some long term chances, I have a usoil order , long at 28.0,
stoploss 24, taketarget is 60.0.
few days ago EA long eurgbp +200 pips.
now EA short eurgbp +80 pips more, be now and still running.
I observe eurgbp pinbar at h4 tf, itâs a chance to long.
How do you think?
[QUOTE=âtonyro44;748822â]I think itâs a good bet, lets see what the GBP does in a couple of hrs.[/QUOTE] I took it and it looks like itâs itâs going to hold provided your stop loss was bellow the bottom of the pin bar. Fingers crossed anyway
I am doing good so far, BE is not an option, we have whole year in front of us. As tonyro44 said he is rooting for you so donât worry we will make this year profitable.
Tonyro44 Some posts before you wrote about your loss when you started trading What or when did it change? Did you have some eureka moment? Or did it improve slowly? You also wrote about the waiting game. How you deal with that?
I am going through ElectroFX Pure Price Action Trading and his site to learn more Do you know other good books / threads about trading?
Sharebazar I could ask you the same but I saw how you developed yourself. My problems are SL issues and jumping in the trade to quick. I remember you had also problems with the SL.
I am still trading with a to small account My risk is between 1% and 2% because I can not trade smaller positions I donât take good opportunities with higher risk (> 2%) SL is about 50-65 pips mostly
I donât trade from american close charts and I have 6 daily candles in a week. I know that is not helping
I have an expensive broker. Some pairs have a 20 pips to 25 pips spread EU is 4 pips. No commission.