Ah yes, the WC - hadn’t thought of that one. Can’t wait for it to start next year. Any team you prefer DE?
Hello Traders,
For this inspirational story of the week, I wanted to share a great conversation about Tiger Woods that he was having with a reporter. When you really understand the conversation, you’ll start to see why he is different, why he is successful, and it’s not some ‘aptitude’ or ‘god given’ trait that he was born with and others cannot access. But listen below and you will see the difference:
A reporter once asked him shortly after winning the US Open, “When you were walking around the green, you’re lining it up, setting it up. * At any point did you allow the thought to go through your head, this is for the US Open, if I miss this I lose? * Did you ever allow that thought to actually go through your mind?”
[B]Tiger immediately replied, “No.”[/B]
The reporter said “Never?"
[B]Tiger replied, “No. "The putt was a ball and a half outside the right edge and I committed to releasing the putt and knocking it in.”[/B]
“And that’s it? You treated it like it was any other putt you might be making under any other set of circumstances?” *replied the reporter.
[B]“You just read the putt and just putt, yeah,” * said Tiger[/B]
The reporter replied, “But how? I try to get to the bottom of this with guys like you. * How do you do it? * How do you not allow yourself to think that way? If I’m playing Golic for a $ 15 Nassau and I’ve got that putt to win it, my knees are knocking against each other and I can’t get that thought out of my head. How do you not think about it?”
[B]Tiger’s response was, “That’s why you host radio and I play golf!”[/B]
You see, the key difference Tiger is highlighting here, is not about talent, or aptitude, or how he adjusts his swing. He’s talking about a mindset. He’s thinking about it differently than others.
This is what you have to find in trading - not the holy grail system (there isn’t any), but that successful mindset, that place where you start to think differently about trading, and about yourself. If you don’t have it now is irrelevant. It can be built by your thoughts and actions everyday.
Kind Regards,
Chris Capre
Hi Chris, I got to tell ya this, This week, Im totally changing up my Trading… I have spent much of the morning going thru your videos and articles, and its time to look at it all totally different…
No more scalping for me!!
I usually dont look at others prespective, as Im a trail and error type learning style, but enough is enough…
And to have a helping hand from a keynote speaker at the International Traders Conference, how can I not pull up a chair with eyes wide and ears tuned to what you offer.
Im all In!!
Thanks,
Well, that wont change leaflet, with a better feel for the movement, only means better results…
I will continue to stick by my " cross the highway with your full wallet"
Hello MNS,
Good to have you on board. If I could recommend a starting point, make sure to read my article here on ‘Impulsive vs. Corrective’ price action, then read the article on my site called ‘How To Trade Trends in Forex - What You’ve Been Missing’.
These are the two base models I work with, and the most important ones. Anytime my students are taking a trade, they are always referencing those models.
We don’t look at a chart and say, ‘Oh look - a pin bar - pay attention’. We are reading the PA in relationship to those two models first and foremost. We understand the price action context, then look to trade in alignment with that.
Sometimes in a trend a breakout is the best strategy, and sometimes a pullback. Sometimes pullbacks will miss the train, and sometimes breakouts will get run over. It is important to understand which is which and when is it time to use missiles or guns. And that is what I teach.
So welcome aboard, and look forward to working with you.
Kind Regards,
Chris Capre
''I’m going to in the next year build all the base skills, so I can make $500K a year trading"
First Off, Chris, thanks for the welcome to the thread, and to your desire to help other folks form a vision for what could be possible, with the proper tools, and leadership. So for everyone here, Thanks for your valuable time in our community, and your efforts you put forth.
Also, I DO NOT want to bum this thread, so I want to make this short and sweet,
MONEY MONEY MONEY MONEY MONEYYYYY MooooonnnneeeYYYYYY
I just learned and read your “Understanding Impulsive And Corrective Price Action” article, And it opened my eyes…
Now, I knew about candle formation, and meaning, but to tell you the thruth, It was shuffled into the back of my brain when I tryed to learn mq4 code… I was on the hunt for a Robot… Even go back thru my post, from day 20 in forex, i was building EAs… I even had flash cards I made, and all the main candle patterns printed and hung on my wall… IN MY BEDROOM, lol, - office… Then, I moved downstairs, and have my own office now, but didnt put them back up, for visual reminding…
So, really, I feel I learned them properly this time, but really, the most important aspect, the Impulsive and correction moves…
Im a good trader, but my downfall is " The Turn"…
But Now, its not about the turn, its about the reaction to instituations Moves, and jumpin on the train to ride with them, but also feeling better about the exit…
Again, the exit, is another downfall of mine, as to why I use a Trail stop of 1.5 pips, and lose 80% of 95% of the moves I enter…
I think this boosted my trading by leaps and bounds, just 1 simple read, ( I dont enjoy reading, mind wanders )
We will see this week…
As for the 5%, I feel it is very important to have a daily goal… My Money Management is 5% gain, or 5% loss for the day… I get my 5%, but I lose it because I still trade, lose focus, and then hope it comes back, because I move my stops…
Im done with that now, I learned to leave my stops alone this week, and just take a loss… Learn to lose i guess you can say… But really with a better BASE of understanding, 5% will be very very achievable.
We’ll see this week,
Chris, Thanks again for your time, and have a great weekend…
May i ask for the post or link of that article please?
Argentina or India (football or cricket)
Hello MNS,
I see you are back to the pink floyd light show 
Why so many lines? do you really need that many?
Try and keep it simple so the most important levels are marked.
But along those lines, what is your trading plan?
Kind Regards,
Chris Capre
Good afternoon Chris,
You dig the lights huh?
The way I see it here, is those lines form walls, which are past S/R… The pink line represents a wall that served as Both, Support and resistance, and is the only one there to do so… So, that pink line is a MAJOR pivot…
Also keep in mind, this is the daily, which is a referance tool, no?
Now, if I go to the 1H chart, I still have my zones set-up, and can use them as TP and SL areas.
This is a Base for Order Flow, no?
If I see it rush thru those zones, then it show great strenght to break the larger berriers, which tells me instituations are putting the hammer down, and its time to ride the wave…
Chris, this is my thinking, so throw a wrench at me when you feel im off track…
Just thought I’d share the latest with me
I’ve moved away from Forex and now applying price action to UK and US shares/stocks. For last 3 months I’ve been demoing using financial spread betting. Mainly using technical studies(PA) backed up by various fundamental resources for conformation. Had 60-70% success rate and progressive positive balance increases. There are no non expiring demo accounts like in forex so I ran out of demo chances, so opened a small live account with GFT as I get access to tools/news and also get a non expiring demo along the live.Course the idea was to do 1 trade here and there live, but carry on demoing, course it was too tempting and ive been doing more than i should in the live account!!
Wow live trading so different. So i have not touched indices ,fx or commodities in the demos, just stocks, so what’s the first live trade I do, trade the news!!..then because the liquidity in shares has fallen off because the big players have gone on their summer holidays I get inpatient and tried the indices (Dow 30). I have only funded live with £600 to keep risk low and stop me trading big priced stocks.
I didn’t want to post here about demo trades using price action, but some BP members dismissed using PA on shares. I can say it works in theory,of course doing it live for me is the next challenge, and I find it suits me better than fx. I hope it is ok to post here with PA relating to equities?
For anyone who trades EUR/USD or gold silver, you should give it a try on Apple and other big movers as I believe it will be lucrative to the more experienced traders with the margin to trade these.
Now I’ve sacked off FX I miss forums like this, as there is non like it for shares that I’ve found so far. Any advice anyone can give with starting out live, Ive already slapped myself and deleted all but equities from the quote boards!!
Now, in the chart you can see Im already short, and my TP would be at the bottom of the Pink line, but Moving my TS of 12 pips of the top of the Pink line, then let it ride…
So right now, i need 27 more pips before moving my Trail, which will give 47 locked pips in profit.
The stop SHOULD be my 5% or 16 pips, and lockin my 5% then let it ride…
So, its 99 possible pips short term, and 481 pips long term…
I just dont think USD has enough juice to pull it down…
Hello Traders,
Am looking at the EU, GU, JPY pairs, along with the Nikkei, S&P, and Crude to start this week as there are a lot of good setups.
For now will discuss the Crude Oil setup which may offer an intraday price action setup as its hitting a key yearly resistance at 98.05. If you see price action fading on the intraday charts, then look to short off the level with a tight stop above, targeting 97.30 and 96.00.
Bulls can meanwhile wait for a retrace into the latter 96 level before rejoining the current uptrend.
Good hunting for this week.
Kind Regards,
Chris Capre
Hello MNS,
I always try and keep my charts as simple as possible. The more ‘thinking’ in the conscious mind, the more distracted or over-analytical one can be, hence why i try to just focus on pure price action and the 20ema, not so many colors or lines.
But having zones setup is not the basis of order flow. The base of order flow is the actual transactions which we do not have access to. What we do have is the price action in the charts, and with the right models, we can glean the order flow behind the price action, but not through zones simply.
Hopefully this clarifies it a bit as zones can be broken or hold, and the PA gives us clues to which it will be.
Kind Regards,
Chris Capre
Hi Chris,
Ok, I see what your saying… So, really the key is just Rejection and corrective movements, and acting accordingly.
Hit 6.2% profit on my demo, and just went short Live @ 1.3337 on the 20 MA cross and last candle closed under the 20. Looking at 1.3304 for a TP area. 1.3341 SL
Hey MNS, good to see you around. In reference to this trade, which time frame did you use for your entry?
Hello Traders,
Ahead a a very fundamental week, my system caught up this set up about two hours ago. The EMA 20 has been supporting the price for the past two weeks with no breach(close) since the beginning of the month. Translation, buying on reversals around EMA 20 has been good enough and profitable. I took the trade off the rejection from the EMA 20 at 1.3317- a previous support level looked excellent on H1. Aiming 60 pips on this one…
Lets see how this works out
dany