Thank you MrBurger for your expertise and knowledge, you will be a great help to all. Best of all working along side with Mr Capre is great.
Well both are being quite stubborn. Still a lot of buyers who keep scooping up the dips. May need more impulsive selling to trip some stops. Am looking to sell on weak pullbacks, but the buyers have come in quite strong in the last 20 mins on DJ & ES
Kind Regards,
Chris Capre
I can see it, especially the last 20 minutes. It looked like it would close below 1.985, but that didnt happen and then it was trying to close below it for over an hour, but as you are saying, the buyers are still strong. Especially if this 1H candle closes as big as it is now.
Sorry, but I canât do the same. This thread was started with the statement that Mr Capre would show proof that heâs different than all those other dime a dozen âprice actionâ peddlers. The fact that heâs not holding his word just shows heâs like the others. You guys with the fancy, bold-type titles under your nicknames actually scare me that youâre being blind to this simple fact.
Hello Mr. Burger (is that your real name?, no first name?),
You did not miss anything. I did not post the audited track records on my site.
Why?
Because ~3+ mos each year, my trading team trades my account. I have them do this when a) I am traveling for work/vacation, b) I am sick, c) I take time off for family reasons. Although I cannot make money trading during those periods, no reason why I shouldnât since the team can trade it.
After talking this over with my business manager, we didnât feel it would be appropriate to post audited track records of accts that I didnât trade 100% of the time.
It wouldnât be an accurate representation of âmyâ trading, and thus we held off. It would be me taking credit for things that my team would be partially responsible for.
If there is a year where they are not responsible for any gains over 5%, then Iâd be quite open to posting an audited track record.
Anyways, hopefully this clears it up as you didnât miss anything.
Kind Regards,
Chris Capre
Iâm a ânewbieâ, but am I a newbie? The title below the nicknames doesnt mean anything about how profitable you are as a trader.
Mr Capre
Thatâs a childish excuse not to show any proof youâre different from the dime a dozen âprice actionâ crowd. You know it, I know it, anyone with a functioning brain knows it. I think we can leave it at that, I wonât be bothering this thread again.
Hello Mr. Burger,
This post seems to take on an aggressive/assumptive tone.
First off, what fancy bold title do I have under my nickname? Are you referring to the âFX-Men Honorary Memberâ? I donât create any ânicknameâ for myself. My name on the forum is the name of my business/site (2ndSkiesForex).
The title under that is something babypips is responsible for - not me. I have no control over that âtitleâ babypips gives me.
Now you are correct, it is not really fair for me to have that statement at the beginning of the thread. I appreciate you bringing this to my attention as its been a long time since I actually read all the text in the opening posts. Iâm definitely open to amending it so itâs more reflective of things now, so will consider this.
[B]RE: Holding His Word[/B]
Hmmm, are you trying to say that breaking my word 1x discredits me completely, my 14+ year history, my working as a broker for FXCM, my working as a trader for a hedge fund?
Iâm pretty sure not keeping up with this one statement doesnât eradicate what Iâve been doing for 14+ years.
[B]RE: The Price Action âPeddlersâ[/B]
It should be noted, most of them started their work/sites in the last 1-2 years. Iâve been trading price action since 2001. My site has been around since 2007, with one of the first videos Iâve done on âprice actionâ.
If youâve actually checked out my work, Iâm not doing some copy/paste version of price action, saying all you need to do is trade higher time frames only, on these 3 patterns.
Those people [I]are[/I] a dime a dozen, which Iâd agree with. But they all came well after me. And as far as I can tell, none have worked for a broker, nor worked with a hedge fund. Thus no institutional experience.
[B]RE: Childish[/B]
I think this is a pretty big assumption, that your perspective on reality has a monopoly on the truth about someone you barely know.
But hey, you are welcome to believe what you want, which I support you to believe.
I am though quite positive I have a functioning brain. I also trust peopleâs natural intelligence to make their own decisions.
Kind Regards,
Chris Capre
Mr Capre
I feel I have to write again to address your points. As far as Iâm concerned and Iâm certainly not alone in this camp, all those guys who pop up on first 2 pages of a google âforex price actionâ search are mostly the same. Of course each educator puts his personal touch one the courses he sells, but the main ingredient, actual proof that all that stuff is working in the real world, is missing from all of them. I must confess I got a rush of adrenalin when I saw the first page of this thread, thinking that at last I found THE ONE who stands out from the crowd.
Regarding your work as a broker, I donât see the point in mentioning that in here, we all know that thereâs a big difference between working at FXCM and having a successful third party audited account with FXCM :).
Regarding your work for a hedgefund, and your undocumented 14years+ history, again, without third party verification that statement is worthless. How about if I tell you I worked for Soros for a couple years ? I was with Stanley Druckenmiller in his office in `92 when he pounded the pound :). You see how easy it is to make unsubstantiated claims ?
Hello Mr. Burger,
I would like to point out that you said youâd ânever be bothering this thread again.â
The fact that you are not holding your word, makes you just like the others.
Ironic how the logic has played out here.
RE: Proof
Plenty of my students have shared their myfxbook accounts (some of which I shared in this thread before), using my methods, making money consistently.
I shared an entire year of track record from one my students, where he made 110% on 100K live capital, being 60% accurate with minimal drawdowns trading one pair only (AUDUSD).
You can go to my site and search for âode to the 4hr chartsâ whereby Tony K. shared his entire live trading record for the year (using only my models).
If my models werenât working, Tony wouldnât have been able to perform that consistently over an entire year. And my other students that have shared myfxbook accts wouldnât be able to perform like that as well.
While Iâm at it, here is an email from someone whose managed funds in FX.
Note what he shares about his managed funds experience, his having to take the series 34 since heâs an exempt CTA, how heâs getting larger R per trade, and finer entries, finding my material valuable stuff.
I wouldnât get emails like this if my methods didnât work, and he tested it out on a live acct.
Now yes, itâs only one month, so not by any means a full baseline, but since heâs a professional CTA and managed funds before, I think he knowâs what heâs seeing.
RE: Working For the Hedge Fund
I left them at the end of 2006. Are you saying you want me to produce contracts and tax records of employment with a hedge fund from 8 yrs ago?
Are you saying you want me to produce 14 years of tax records, showing income from trading gains on my personal accounts, from some random person in a forum whom I donât even know?
Do you realize how ridiculous this seems?
RE: Others Doing Forex Price Action Are the Same
How many of them have shown their students live track records? How many of them show actual trades from their broker chart? How many of them show their student trades?
As far as I can tell, none have. Yet I do. You can search âlive price action trade setupsâ on my site, and find dozens of posts of me sharing my students trades using my methods.
Just with this alone, it could be said Iâve separated myself from the others.
If my guess is right, Iâm sure youâll have another counter for this, even though youâve already broken your word about âbothering this thread againâ.
I have said all I needed to say on the matter.
ActuallyâŚthere is one more thingâŚand this is not just for you, but for everyone.
Ask yourself how would you like to spend your time on a daily basis?
Would you rather spend a few hours of your days having arguments with people (on forums) about what you think is wrong with them?
Or would you rather spend your time building your future?
One has to ask, what is someoneâs inner world like if they choose to spend their time arguing with people (they know little about), trying to point out any apparent flaws they âperceiveâ (while barely knowing them) on a forum?
Hence bringing it all back, you are welcome to spend your time continuing this conversation, which seems to have a lot of value for you (since youâve responded now 4x), while Iâll spend my time working on my future, hopefully having a positive impact on others.
That is all I really have to say on the matter.
Kind Regards,
Chris Capre
OK, Iâll really finish with this message. Thatâs because itâs very clear now to me that youâre just the same as the rest of the âprice actionâ crowd, and it wonât get any clearer if I continue to address your points. All I see if I search for âode to the 4hr chartsâ are some photos of some excel spreadsheets. I mean, câmon, really ? Excel spreadsheets where you can input whatever you want is your idea of third party verified performance ? And you give advice to aspiring CTAs ? wow. I guess the reason this âtonyâ only traded one pair and on 4hour chart is because itâs much easier to fabricate 124 trades on one pair than a thousand trades on 10 pairs. Youâre playing a dangerous game here Mr Capre, if there is someone out there angry enough with you to go after you and to report you to the authorities, youâll have a hard time proving that that article is not deliberated fraud.
Oh, letâs not forget, thereâs that empty promise again: that you will show audited results from an account that you just opened. The date of the article is 15th February 2012. Let me quote you on that: â I will publish the audited results from a professional accounting firm, on my site so you can all see I am the real deal.â
Indeed, spending my time here was very valuable to me. And this is no joke. Why ? Because it convinced me that all this price action stuff you find peddled on the internet is profitable only for the guys who sell it.
Hello Traders,
Iâm watching the GBPUSD which has now formed a triple bottom on the 1hr chart at the key support level we mentioned yesterday in our daily market commentary.
As you can see via the 1hr chart below, after forming a decent bounce (the 2nd time) off 1.6060, the pair slammed right back into this same support level.
What is interesting is the very large impulsive candle heading right into it. If the sellers were truly in control, theyâd have broken the support level and pushed lower.
But the bids absorbed the offers here and pushed higher pretty aggressively. This suggests âexhaustionâ selling from the bears as they did not have the order flow, or strength to take out the bids here (even though the trend is down heavily, hence likely exhaustion).
For now, short term bias is slightly bullish, especially with the weak pullback off the key 1.6225 resistance level we mentioned yesterday.
Ideally any pullbacks into 1.6157-23 will hold there, as that is what Iâd consider the maginot line for bulls to show they can hold the bears in check.
If this area folds, then a likely re-visit towards 1.6060 is in order. If on the other side, 1.6225 folds, then 1.6287 is on deck.
Overall, the trend structure has been turning towards âvolatilityâ, hinting at this pullback/reversal since the 8th, and which we mention on the 9th. Getting to 1.6287 would suggest this structure is more in play.
Hope you enjoyed the commentary and see you tomorrow.
Kind Regards,
Chris Capre
Hi Chris
I was a bit surprised with a few of the recent comments on this thread donât really want to comment myself so if OK with you will take the FREE advice you are peddling and the FREE introduction to PA you are forcing on us and try to deal with it best I can.
Anyway back to the discussion
1, I said I was confident but maybe not that confident, I still need to wait for a reasonably good signal for my entry.
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Selling on pullbacks with trend maybe a little out of my depth at the moment, I have been looking at other examples of this and donât have the skills to pull this off, my track record is not great at identifying pullbacks. Something I am studying but may have a way to go on this.
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I have now removed the 10 pip target from my trading plan and will be targeting key areas from now on. I am currently studying order flow, volatility, volume etc. I will eventually have a grip on this as can see its a key part of trading PA. Momentum trail looks good will want to learn that, think I understand the basics and will go well with my current studies.
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I donât like EMAâs as indicatorâs albeit I still want to fully understand what they do, I did not do so well with them on a previous trading plan and now I am learning PA they are becoming less important. I only keep the 20EMA on my charts as a reminder to spend more time studying them. I am glad you have said not ideal to trade as my thought entirely.
Not a great week for trading for me am down about 40pips in total. I only trade the GBP/USD and think the change in trend over the last couple of days has caught me out. Market is not doing what I am telling it to do!!! I will be taking a short break from after work tonight, so till Monday no trading no charts no baby pips no studying. I think trading is really starting to take over so time to put the brakes on a bit and do something else for a few days.
I have read your last post on GBP/USD and was encouraging that my chart nearly matched yours and my analysis was very similar. I am in long on this although having just checked how its doing price has just broken back through 6225 so may be a false break out, time will tell. I have targeted just below 6287 but think may go for 6327.
Thank you so far for all the FREE advice and please continue to peddle the FREE PA analysis as is much appreciated.
Kind Regards
Daren
Hola Daren,
[B]1)[/B] Roger that, such an entry takes confidence in your read on the price action context. If you do find yourself feeling good about the read, then the suggested entry point would be recommended. A top of a consolidation like this offers a short term resistance where with-trend players can/will come in.
Often times youâll see an aggressive push off one side of a consolidation before the actual breakout. Its kind of like a change in signal/intent, saying this time we are making a run to break through the line.
But that takes time and confidence in your PA skills to read this, so take your time with this.
[B]2)[/B] A very honest response. Most people usually when they are in a good with trend trade, donât add to their position when the setup comes. Mostly because they are investing their time/emotional energy in that one trade.
The key to understanding when to trade pullbacks, and what type of pullbacks to expect, all centers around the â[B]volatility[/B]â in a trend. If you can identify this, then you can get an insight into what type of pullback (or not) you should be looking for an how deep.
[B]3)[/B] Sounds like you have a good plan you are working with for now. Key areas, or the momentum trail are some of my typical methods for taking profits when trading intra-day. Take some time learning both these methods as youâll need them in terms of maximizing profits.
[B]4)[/B] I cannot say Iâm a âfanâ of indicators. Besides the [B]ichimoku cloud[/B] (more method than indicator), and the [B]20 EMA[/B], I donât really trade with indicators. Reading [B]price action from the perspective of understanding order flow[/B] is my main method, although I do use ichimoku models for medium term swings, but that is separate.
[B]RE: Change in GBPUSD Trend[/B]
Learning to read the [B]price action context + âvolatilityâ of a trend[/B] will give you a heads up to a trend change, or at least a transition in the order flow from imbalance to balance. This is especially crucial in a trend.
I actually wrote about the likely change in trend structure on the GBPUSD ahead of time in the daily commentary using these same two methods.
So take some time to learn how to read these things in the PA, and youâll find yourself not getting caught up in these transitions at the wrong time, while also being more prepared how to trade them (perhaps both sides).
But I am glad you appreciate my comments and suggestions. Hopefully they help and make an impact on your PA studies.
Kind Regards,
Chris Capre
Hola Traders,
While some pairs are attempting to rally from the short term USD death grip, one pair that continues to struggle Iâm watching is the EURUSD. While GBPUSD has rallied off the 1.6060 lows (as I wrote about 2-3 days ago in my daily commentary), the Euro has trotted in place between 1.2880 and 1.2950/60 (1hr chart below).
This inability to rally suggests the bull camp doesnât have much gusto at the moment, and from what I can see, institutions are mostly short this pair at the moment.
An aggressive trader can watch for the 1.2950 area to sell under the assumption the consolidation resistance will hold. More conservative traders can watch for rallies towards 1.31 to sell as I suspect most institutions that are short have their stops placed just above here.
Good luck trading tomorrow.
Kind Regards,
Chris Capre
Hi Chirs,
Still holding my day before yesterdayâs second EU short entry. Very thin market at the moment. Hope to see a rally soon. May be NY will bring something.
Interesting market. Small reaction to sales #'s, USDJPY is looking quite over-baked short term. Likely will need to pullback before making a run at 110.
Iâd definitely buy on pullbacks for another leg higher.
Global indices looking slightly weak. Key being DJ 16975 and ES 1985 support levels.
Am waiting to see if there will be a late push, or just fizzle to end the week.
Overall though, Iâm bearish EURUSD & GBPUSD, and will definitely sell those on rallies.
Kind Regards,
Chris Capre
Thanks for the update Chris . Glad to hear your thoughts on EU & Cable. 
Done for the week, now to enjoy the week-nd with friends and family, next week we will do it again. To the trading family take a break and enjoy life will see you next week.:44:
Hola Tony,
Nice - enjoy your weekend amigo.
See you same bat-time, same bat-channel.