Pure Price Action For Dummies

Trust me on one thing. When you cross ten trades without a single loss one time, the first time, then your number of trades per day, per week will decrease.

you will then be going to a different level of trading.

EU D TF

I was looking at the DTF bias and I saw that price is either going to range or shoot back up despite the bear candle for today, especially since it was touching a strong support area.

EU H4 TF

H4 between morning 9 and lunch time showed that momentum down had become stagnant. So we have a support area, a stagnant southward drive, so could this indicate a reversal?

EU H1 TF

Entry was a tad bit late because I was mucking around with GU also.

Finally, GU was in a safe spot and EU looked good, so decided to add some more chips into AU also

AU H1 TF

40 each on GU AU and EU. 600 pips for this week. Personal best. I got a UCHF going for 22 pips now. Might move it to BE and let it ride.

USD CHF…

H4 UCHF

Look at the candle being pointed out by the arrow. It shows stalled momentum at the resistance line above it.

H1 UCHF

Entry late by about 10 to 13 pips. I am still learning to enter as high as I can.

My EU GU and AU has safely hit more than 100 pips each. I only took 40 plus each.

I have to start managing my trades and allow it to run its

Wow nice trading. I see you are having a great week. I have only been able to make 1 trade this week but it was probably one of my most profitable trades ever so even if I dont get another trade it was still a good week. I think I am setting my expectations to high. I have to learn to stop tryinh for that home run every time and just get a base hit. With that homeruns will come on there own. Easier said than done in my mind.

Its one of those things I have to figure out next Bobmaninc. Which one to let run and which one to take.

Mind you 30 or 40 pips per entry adds up to alot. But then the satisfaction of hitting 100 over pips per trade is another thing altogether a different thing.

And regarding my pip collection this week, well I am doing this full time so it should not be an issue. I admire guys like you who not only managed to learn how to trade, but continue trading profitably even though you are at work and not able to take every set up out there. That is a feat that really takes skills.

I missed Euro Aussie, its falling nicely now.

Well I guess its going to be a slow day tomorrow, atleast until NFP is over.

Good pipping to all.

Thanks for posting your trades Nikita and explaining them so thoroughly, I enjoy studying them and congratulations on your 600 pips :open_mouth: that’s amazing.

Ok I am going to post a trade I took tonight to show newbs reading this exactly what Nikita is talking about when she says to eliminate risk as soon as possible. The first Chart I posted was a trade I took on the aussie today. I went short due to the face the 1 hour chart was showing rejection on the weekly S1 pivot plus the swing high failed to take out the previous swing high. So I went short with my initial Stop was just above the previous high. So as soon as price got into profit enough to have breathing room I moved my stop to Break even. Thats when I took a screen shot of the first chart.


Right after I took this my wife reminded me I agreed to make brownies and a salad for the church tomorrow they are feeding a high school football team. So Since as you can see my stop was at break even and not in a good looking spot I went ahead and closed the trade I think at 23 pips. Then went to the store. When I got back this is what I was looking at.

After looking back I can see the best time to go short would have been. To let pice confirm the rally was done by makeing a lower low then if it made a lower high then would have been the time to go short. But being a part time and my last night of trading with and sweet trade sunday night that made somewhere in the 25% of my account range I figure why not risk a little just to end the week on a bright note. Not sure if I call this a bright note since I was wrong but it worked. So if you read a page or so back I tried to predict and head and shoulder and was wrong. Today I thought a fall was going to happen and was wrong again. Even if I did close this trade. I walk away with my money all of it and then some. Thats the reason you should eliminate risk as soon as possible. When you learn this you will find you can be wrong but it dont hurt or at least not your account. Pride maybe but you will never be right all the time unless you are Nikita this week lol.

hehehehe i better start posing some trades that hit SLs :stuck_out_tongue:

I was looking at the same pullback candles on AU which you traded but I did not take a trade because it being a NFP friday primarily and no other secondary confirmation, be it correlation, or H4 confirmation. I only saw some unclear S&R areas there.

Ideally the H4 candle on AU looks like a nice Inside candle that should break upwards but since it was formed because of news, I am not sure how valid it will be.

Teb5108, you are welcome. I hope that my postings here help you somewhat. Just like postings from guys like Bobmaninc and ST help me out to keep improving and reducing my losses to a bare minimum.

USDCHF 1H

My only decent trade this week. In reality my SL was just above the top of the previous candle I just happened to take this picture before setting it.

I TP’ed with 35 pips. I would have went for more but I had to think quick and set a TP because my laptop battery was about to die and I was an hour away from home.

Sorry about the fuzziness I don’t know why it looks that way.

I was just catching up and read about your great week Nikita…congrats!!
Wow…makes the weekend nice huh?
Lol

Hi Nikitafx nice trade, thanks for sharing.I am reading the thread from the beginning again.

Hello Sharebazar, Havent seen you in a long time. Hope you are doing well. It all started on your thread.

Hi Nikitafx I am ok thanks for asking, how are you. Very nice see you posting again.

Hi Nikitafx as you know I am from London, do you have any advice what time will be best for me to trade. Your support is very much appreciated.

Well UK session, which is nine am your time I guess is as solid as any. US session, which is about 6 hours later is not bad either.

But if you really want a solid answer, the question best time to trade is not as important as a valid set up. Active market times brings momentum into the picture. But trade setups can form at any hour or market session.

So my best advice would be to practice watching candles and charts 5 minutes to the end of the hour and 5 minutes into the new hour every hour. If you trade H4 charts, then its best to glimpse the charts 2 hours once I guess.

Hi Nikitafx thanks for the advice, yes I am watching the candle almost every hour now.

AU H1

60 pips on AU. Had a loss for 17.8 on EA earlier. Rushed in too early.

Last weeks good run had brought back the entire monthly winning trade average to about 90%.

This week has started very tough but still in black.

What will this month hold, especially towards the end of the year.

To wait for a clear entry is the toughest part. Todays AU trade had been a recovery after a rushed in trade on EA. Luck wont be there all the time.

Yep I took pretty much the exact same trade last night and was pleased. I think I took about 45-50 pips before my stop got tagged.

Nice trade niki. I was sleeping at the time so I missed out. In all honesty I probably would have missed out anyways because at the moment I’m just trying to trade PA on S/R lines which so far has proved very successful.