Update: I am now holding free weekly webinars to support the trading strategies (which are detailed on my website) and to aide the learning process - full details can be found here
Specific Educational Resources:
- Supply and Demand: The Fundamental Driver of Price.
- Classifying Supply and Demand Zones.
- Support and Resistance
- SD Zones within S/R Zones – Examples
- Identifying Supply and Demand Zones - Decisions and Multi TF Analysis
- Identifying SD zones – Part 2
- Professional Trader Mindset
- Order-flow Dynamics
- First Time Back (FTB's).
- Trading False Breakouts (FB's).
- The Daily Retest (DRT's).
FB's, FTB's and DRT's:
1. FB's and FTB's Part 1:
2. FB's and FTB's Part 2:
General PA Trades:
1. GBPAUD Live Trade Walk-through
A summary of 'useful' posts prepared by Avanish
A list of the abbreviations / terminology I often use:
TT = Touch Trade
PA = Price Action
FTB = First Time Back (note - not an immediate retest - an arc like first retrace)
FLR = First Line of Resistance
FLS = First Line of Support
TL = Trendline
TP = Take Profit
SL = Stop Loss
%R = Risk / Reward Ratio
S/R = Support / Resistance Zone
SD = Supply / Demand Zone
BRN = Big Round Number (Mostly .xx00 e.g. 1.0000, 1.3000)
RN = Round Number - every other type of RN that is not a BRN e.g. 1.3550
TF = Time Frame
HTF = Higher Time Frame (Daily and upwards)
LTF = Lower Time Frame (H1 and H4)
VLTF = Sub H1 Time Frame
FB = False Breakout
RBR = Rally Base Rally
RBD = Rally Base Drop
DBD = Drop Base Drop
DBR = Drop Base Rally
LS = Liquidity Spike
This thread is a follow up to my previous journal which detailed my journey to becoming a profitable Price Action trader.
A bit of history…
I spent approximately 4 years jumping from method to method trying to find the ‘holy grail’ before it suddenly dawned on me that this was completely the wrong approach to trading and that I needed to take a look at myself and figure out what type of trading method would suit me.
It’s then that I stumbled across J16 and realised the importance of Support and Resistance and learned how to trade certain well known candlestick bar patterns on the higher timeframes. I started to make small gains per month, but it felt like something was missing…I thus begun some extensive research into price action trading which amongst other things involved speaking to professional traders.
It was only then that the missing pieces of the puzzle started to fall into place, I realised that the professionals view price action differently to how retail traders view it and that there was a whole world of information to digest, learn and understand if I wanted to be able to trade like the professionals.
In short, I learnt to understand:
1. The characteristics to look for at Supply / Demand and Support / Resistance areas which highlight the order-flow that is present and how to interpret this price action to produce reliable trade setups.
2. How the FX market is inter-linked with Equities, Bonds and Commodities and how to use this knowledge effectively as part of price action trading.
3. The power of Risk Sentiment and how to determine the likely price action in certain ‘risk’ based scenarios.
4. That the professional price action trader has a good awareness of news / fundamentals and the effect on the market and how they use this knowledge as part of a price action strategy.
5. How professionals look at trading setups in terms of probabilities and adjust their risk according to these probabilities and are constantly looking for signs from price as to where it is heading and what it must do to confirm or dis-prove this ‘sign’. This opened up a whole new sense of logic when assessing entries, stop-losses and trade management.
6. That price action trading should be mostly objective and not subjective – it shouldn't be a case of a setup being open to many forms of interpretation depending on an individual’s style.
The above summarizes how I built an account that allowed me to become a full time trader and how I trade today. I’m a full-time trader who trades the both the higher and lower timeframes (mainly down to the 1HR TF).
Why a Commercial Service?
I have seen a lot of other services across the internet over the years and it is frustrating how much rubbish advice / information is given out. As a professional trader it is pretty easy to get a feel for traders that know what they are talking about and actually trade for a living as opposed to those who just heavily market a service in order to earn income. Unfortunately most fall into the latter.
Therefore I decided to create a professional dedicated service to detail the methods I use in my trading together with examples in a logical, efficient format which provides traders the best chance of being able to learn and implement them. Alongside this I also selectively mentor people and run a live Trading Room.
There is a tendency amongst commercial vendors across the internet to either only post ‘cherry-picked’ winning trades from demo accounts after the event or charts without a detailed explanation reasons for entry and trade mangement – it’s not hard to say ‘look where price would have gone’ – it’s very different actually managing a trade under live market conditions. This is one of the reasons why I run my Trading Room - to show people how I trade the methods under live market conditions (the hardest part in learning a method is the transition from understanding the methods to actually trading them), I've always been curious why other vendors don't offer this as it's an important part in the learning process.
Whilst I principally assist people through my commercial services, I am more than happy to assist people on this thread too and via my daily webinars and support forum, so feel free to post charts, ask questions and I will do my best to help.
Anyway that’s enough talking from me…here is the link www.thetradersguild.co.uk. If people have any questions please fire away.