Hi everyone…ive posted a couple of trades on Nikita’s price action thread…
and i see Nikita and some of the Price Action traders also post trades and discuss.
i would love to see some pictures of successful trades and an explanation of your thoughts as to why you took them, the entry and exit thoughts and choices. and the end result.
if you cant post pictures then an explanation will do and i will investigate them myself.
also it is important to discuss things like momentum or waves or fib lines or support and resistance, so its easy to follow what is going on…and hopefully learn from your skills.
i will post some of my trades here…both good and bad ones…and maybe you can let me know if i missed the obvious.
right i put this trade in this thread as it is based on some weird and wonderul technique that i have been backtesting.
ill let you know what it is later…if need be.
shorting EU @1.2702
stop loss 1.2733
take profits manually if i dont get stopped out.
ps in backtest this method worked about 3 out of 5 and maybe 4 out of 5 times…as long as lose small and win big then may be a great system
edt
theory is that price at about new york close should be lower than it is now…
regardless of how much price swings up and down in meantime.
i may get stopped out with tight stop but can still look at if it worked out at new york close.
right got stopped out…
price has gone my way as anticipated but retraced just a pip or 2 past my stop loss
i should have had my stop loss on the higher white candle then i would currently be sitting on about 50 pips.
but this was a test of if my technique worked and price ended up lower than it was when initiated at around new york close time.
right that is me out of this deal…A PROFIT IS A PROFIT…nice tidy start to week
maybe i couuld have let some run…i moved my tp…and took profit here…all of it.100 percent.
hi luiz…if you look at the 2nd graph …youll see i caught the short and took my profit…
it was a good trade
fulfilled the plan to a tee…
now its going down still and maybe i will catch it again for the short…
if i do …ill show you the trade here.
edt.
i could have taken twice as much…as its still falling.
but that wasnt the trade plan.
what is all this hoping to catch the top …
the fact is i actually caught the top…but its no big deal.
maybe i should widen my stop
my stop was at 0.9629
price only reached 0.9627 but got stopped as the spread was about 3 pips
so i was stopped out by 1 pip before market turned.
wow.
hi gs8888,
PRICE ACTION is where its at as far as im concerned…swing points and s and r.
i use a mixture of everything i have learned really from people like johnathon ict DNB and nicki , but i get lots of information from books and training videos…
i subscribe to several threads, my main influence for price action is johnathons thread really…
he teaches clearly A+ set ups…and when i find them …i will put them in his thread.
ICT i use for general feel of market… and guidance on books and things…but i do prefer the higher time frames to work off now…since johnathon.(forex school online)…i only ever use the lower timeframe for entry…otherwise im basically on the daily and 4 hourly.
dnb price action are a bunch of guys who are enthusiastic and can teach me a thing or two. although they use a moving average…which i sometimes whack up on the screen to see if its telling me anything…and it does say a little…that you may be far from the mean…but in the end price doesnt care …mean or no mean…if its for rallying it will rally and the mean will do as it always does and FOLLOW…i learn stuff off those guys.
and nikki, i keep abreast of because i know that price action is the key…and if a group of people are talking price action then i wanna know what is being said…i want as much info as possible…give me all the rubbish and the good stuff mixed in and ill sort out the wheat from the chaff myself.
plus all that aside i go round different forums asking questions about the structure of the forex market…im really interested in how the key players do the game…and this is something that nobody really seems to sure about…its like a mystery.
but im getting the picture …bit by bit…but its gonna take a while to get that one.
and all my trades are live …win or lose…i dont really care.
like today i made about 3 percent on my account…then i gave it back.
i believe that across the whole forex market there are easily about 5 solid set ups every couple of days that a keen eye can spot that can pretty much guarantee say 20 pips each …and if i can get a hit rate of 4 out of 5 …then i can make 10 percent in profit per day…
many will call this over trading …but for me its realistic…based on the fact that most of the time the market is ranging …and if you know your range you can just take a few pips whilst its ranging and keep adding to the pot.
and if you have a tight stop…you may get 4 out of 5 which nets 80 pips and lose 1 out of five and lose 10 pips…
i havent got the courage to put a full 1.5 percent on the ranges yet but maybe in a few months.
and when you catch a good one like one of johnathons A + trades…oof which there were none around today…you clean up big time and possibly get in on a big reversal or at the beginning of a new trend.
hi dread trade…
as nobody took up the offer on posting live trades…i decided to just keep mine in here as like a journal.
ill give a bit more info on the next ones…
Nice to see your reply and how you use price action techniques for your trading. Even i do trade using price action, i mainly concentrate on Niki’s and DnB’s method. Johnathon’s method is almost the same. Cause it’s all about the price action. Do you have any fxbook account that you can update your progress everyday ? Do you mind if i post my trades here as we are trading on the same techniques i.e PA ?
oh and g8888 i dont have any fxbook account but i may start one…i dont know if its a lot of hassle filling in values and can you post pictures…you know what ill check it out myself.
and just so you dont miss anything…with johnathon method…its pretty much guaranteed you will take major pips…
he encourages only A + trades…and rejects anything less…no matter how many pips they bring…
based on fact that over long run those trades will eventually eat away at your account.
his philosophy may actually become the MOST IMPORTANT THING I EVER LEARN ABOUT TRADING…who knows…thats why i value his style.
anyway post some stuff and well discuss whatever you like.
Could be an interesting thread if more people post. With that in mind, just wanted to say that I posted a PA trade I took this month in another thread, I posted it this morning in the ‘Wannabe trend trader looking for guidance’ thread, currently next to this one in the Newbie Island section. It’s an end of day trade on NZD/JPY, so am not sure how interested you are - I think that this is more an intraday thread - but have a look if you are interested. I’d post a link but am not sure how…!
hi ‘the saint’ simon templar…
im always interested in anything you post …ill find the thread and weed it out…please post anything here…its not my thread in my eyes…its just somewhere to post some price action success and failures…and maybe learn…
just so i dont clog up specific threads…
but please post anything you like…your wisdom is always appreciated.
and hi to bobmanic…ive been looking at your aussy thread…looks like you cleaned up some pips the other day…nice one for that…as you can see this is just an open thread.
hopefully we’ll see some good price reading come out in the near future…look forward to it.
OK, I will be trying to post my trades here too then.
It will be very beneficial to all of us if people posting could give all the reasons for taking the trade.
My suggestion if people start posting their trades give out complete reasons even if they are obvious.
For example :
Don’t do this --> "PA says sell"
but do this --> “Due to the pinbars forming at the top combined with the head and shoulders pattern;
a reversal seems imminent. Decided to go short at X.XXXX placed stop loss at xxx because
it is above a big resistance area.”
And do post pictures of your trades.
Thank you. I’ll be doing the same.
Tried to upload photo from cellphone, but Mobile Babypips wasn’t having any of that. Some business about it redirecting too much. I will try again later and then I can add my two cents to this thread.
I have been using my iPhone for just about everything these days. Metatrader 4, Oanda, and Babypips on the go.
