This is my main thread
edit:01-05-2010
Thanks to all of u.
No one wont be able to post here any more unless u r in my buddy list or u have 10+ vouch.
[b]for the open discussion use my other thread and
i dont want to make this thread too big(131 page so far).u will find a pdf zip file in this post.only my posts and organized by Alanone..(all the page is not listed)
[color=red][b]i wish all of u good luck,
and hope u will find something that will help u little bit in your journey.
please dont use this thread for giving me or any body to give a thanks.hope you understad that.there is many others way you can do that.or use my other thread.
you cant find any holly grail here.i am bit strict what i do.(i know i will upset many,but i am sorry).any one is well come if you are ready to do the hard works.good luck
Best regards
=sho(trade price)=
---------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------
wellcome.
This thread is about price action trading..
i dont call myself a teacher.or i dont think i can teach anybody.
but i call myself a Good Trader.
i dont teach anything here at the forex factory.
i just show how i do trading.
if any one gets anything from me.all the credits to them.
(IMHO -easy to show anything hard to do)
After reading this if you think its not for you.good luck to you.
make an effort to learn any(i mean any good ) methood than market will give you any money.
i cant make u a profitable trader.its u who can make ur self a profitable trader.i dont like to lie because i am trader.it does not matter how good someones methood is as long as u dont give ur self enough time to learn any methood u wont be able to success in this bussiness.so its all depend on ur self.
i know this thread will hurt lots of peoples ego but i am not posting this thread to make anyone happy or unhappy.this thread is not for Arrogant People.dont underestimate what i am sharing with u guys .
This is advance type of scalping so if you are newbie it will be bit complicated for you.
so please learn the basic about the market and candlestick or bar chart formation.
learn the basic of all the pattern like triangle,double top,head and shoulder,flag.the basic of fibonachi,elliot wave,123 formation.search the google or ff for those information. or go to this link( education link )for free basic information about trading and come back here.
if you dont know the basic of those things it will be very hard for you to understand how my methood works.
so please do your home work and read this thread and apply in your trading.if you dont know the basic then this thread is bad for you. you can leave now.dont go any further.but if you are trully care about learning, learn the basic and use this thread.
biggest truth is less then 1%(near zero) scalpers are success full(talking about retail traders)
so if you still think its for u go ahead and use my methood.thats why i encourage new people not to scalp.please dont i am telling you again dont go live.allways demo until ur fully confident with my methood.
how to prepare your mind and body for trading:
each day is diffrent in the market.in every trade u have to manage diffrently .depend on situation.
make a trading plan.and adjust them with ur personality time to time. there is only one hard rule in trading.that is protect ur capital.do what ever u need to do that.
fight with the market to protect that. profit will come if u can save ur capital .
let the market to slap u.dont let it gun shot on ur chest.
let the market to do what ever its wants to do,just save ur self.we dont know the out come of each trade.we will trade as long as the setup meets our trading criteria(what ever methood u follow).
u have to take all the trades ur methood gives u.
if u take one and dont take the other one. u will see the one u did not take was the best one .so trust ur methood and follow.dont change the methood if u know that is good .change your self and your thinking to adjust with the methood.u can only change the methood if methood tells u to do that.(hah hah its confusing).if u are biginer only play conservative setups.wait for the right set ups.and allways play with the trend as long as u dont understand market properly.
if u take the aggressive entrys still try to take the good setups only.
it could be the best system(methood) in the world if u dont know how to use it u will fail.
.who to blame?its allways u.its allways depend how u react with the market movement.
if u follow diffrent stratagy.use diffrent account.it will help u to easily see your trading results and u will understand which stratagy is better.
when u trade allways trade a single stratagy in a trading session.dont mix all the stratagy.this is where disaster will come.dont take revenge trades.u will blow ur account.and off couse when u r making money allways stay on gaurd.overconfidence is no good for trading.dont trade slow time.for day trading we need volatility.
if u use indicators understand what its telling u.
even in the best and obvious setups why most people fails?because its their thinking.in a obvious uptrend or downtrend(parabolic move) dont try to go opposite direction.its allways amatures who allways see revarsal in a strong trend.he/she allways try to take the reversal trade and forget to take the trade in the direction of big order flow.where all the money is.
after every trade clear up your head.if u feel u have to get those money u just lost.thats a big warning signal.stop trading right that moment.shut the platform and do something else.
emotion have no place in successfull trading.
its allways u who is standing infront of your success. there is no way we know what the next setup will do.we would love to .but its not possible.trading is a probability game .if u feel lazy or sleepy dont trade.u dont need to trade every day.trade only when u feel comfortable with ur mind and body condition.before the trade allways watch at least few minutes the market action.what i mean is if you start trade at 9:00 everyday,try to watch the market for 10 to 15 mins.try to get a feel first, how market is moving today,what is the markets plan,is it side way market or trending maket.and make your plan acordingly to the market movement.then if any setup comes take the trade.
most of the time best decision is to stay side line.dont over trade.and dont make trading complicated.the more u complicate the trading, less u will follow your methood.dont force your self to trade only for enjoying.
what moves market?
imbalance of supply and demand moves price.
price moves in trend .trend moves in waves.two type of waves *impulsive waves and *corrective waves
we will trade only impulsive waves because they are bigger and quicker.i will show you impulsive moves and coorective moves.
that is very important.
A loss in momentum is NOT a sign of trend reversal.
speed and momentum is the same thing (for me)
when i combine the speed(momentum)with swing high and swing low that is impulsive move.
with the overall trend normally i use swing high or low and candle formation to count impulsive moves .
when move is against the overall trend we use candle formation, speed and swing high /swing low
to count impulsive move.
when move is against the trend ,if it breaks swing high or swing low if there is no speed(compare with other bars)i wouldnot call it an impulsive move.
it must contain some speed(comparing with the other bars)then i will call it an impulsive move.
when u compare allways compare with the recent opposite move.how long it is takeing.
it is sound hard to do but its not .just keep praticing and watch live market.u will get the idea.
speed- (which is rythem and momentum)that is the key.
when u enter into a trade if u see speed(momentum)is on the other side just get out.u can allways get back in later.
in this thread we will talk about entry, exit and trade management with the price action.
we only trade with the momentum.
with every bar our decision can change we are traders we are not investors.
like if i say i am bullish,close of that bar i will say bearish depend on the price action.
but most of the people doesnot like to change their mind.thats where success and failers comes.
learn to change ur mind in a second with the market.
i use a methood call price action trading.it works all time frame. i use kelthner channel and stocastic.but price action that matter for me.indcator is nothing until you master price action
.i change my mind while trading in a second like market does.my analysis can change with market and price action.
(if u wanna know what is kelthner channel see post #1946 )
if you search the whole net you will find very limited information about price action .some of thems are good, most of them miss guided by the people.
trading is all about managing the risk.if you dont know the price action you wont be able to manage the risk properly.
before placing the trade you have to know where to put the stop loss properly.we must have to know the stop loss before the entry.
yes i do get stoped out so many times .but with a small loss!
price is king !price will tell us whats going to happen next. trading is simple
all the indicators are rubbish without price action.
they will cost you money only.as long as you dont master the price action it does not matter what system you use you will lose.the sooner you belive that its better for you.because you will shorten your learning curve.
if you dont belive me go search for the holly grail.so many trader fails because they does not know the price action.indicator say buy, they go long.indicator say sell,they go short.they doesnot care what the price is telling.i trade what the markets tells me.
timing is every thing. i will prove you trading is simple.
after reading this you will know how look at the chart properly.you will know instantly which direction to trade.
please be patience.give me enough time to tell you and guide you step by step.we will trade what we see not what we think.
no trade without price confirmation.
you will see with our price action trading fibonacci trading,eliot wave trading or other trading, all works because we know the price action.
to succed you have to be discipline. this is not a game.treat it as a bussiness.no over trading.
emotion will distruct you while you trade.price action will help you what to do.i will try to post my trades everyday.i will trade pin bar inside bar outside bar but not all of them.
will stay side line most of the time.entry will be with very low risk.
will wait for the perfect setup.
no setup no trade.
i read peoples behavior through to the chart.
with the charts will know most likely what the proffessional are gonna do next.
we wont be right 100% thats why we will use stop loss.if we win 50% of the time we will make money with proper money management.but you know what? we will win lot more than 50%.
i will show you how to avoid the wrong pin bar or inside bar.
price action is not all about pin bar or inside bar.there is lot more things to do.
i will use support, resistent.
Everyone is wellcome .and please dont vote unless u read the first 100 page.we will help each other to understand the price behaveior.learning never ends.
for the beginer you will only trade with the trend.
when you will have enough screen time you can trade counter trend trade.
with price action you can trade any time frame.if you go to higher than10 minutes signal is better.
some times i do swing trade.my main time frame is 15 minute.
you can trade any pair.i do trade stocks and futures.
for the day trade smaller the spread better.
round numbersare important.keep in mind.
i dont trade asian sesion.i only trade 9:30 am to 17:00 london time .(normally dont trade 13:00 to14:00)(i trade stocks first couple hours of nasdaq session)
i dont trade sideway market. you will see i will post my chart very often.
i would like to share my methood with any body who would like to know. i dont know what you want to know about my methood?feel free and ask me .i will try my best.
i strugled 5 and half years before i discoverd price action is everything.i did read so many books bought so many systems.yes they did work for a short period of time.none of the system worked for long run.
then luckily discoverd the price action and learned the methood.
still learning everyday.
please excuse me for english gramer.i am very bad at english.i am settled in london.still could not learn the english properly.
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EDIT: FEW trading RULES with this methood from PAGE 106 POST IS #1586
http://cdn.forexfactory.com/images/icons/icon1.gif rules
****** MY MASTER RULE IS FOLLOW MY RULES*******
****** TO MAKE MONEY I NEED MOMENTUM SO I WOULD NOT TRADE WHEN MARKET IS FLAT****
-Before entry-
1*i should know what is the maximum amount of pip i want to loss in a trade.
2*before the trade i have to decide am i looking for 2:1 or 3:1? whatever i chose i must have to remember that.
3*first thing look for is =is market trending or sideway?
4*i need clear and tidy chart to trade.
5*dont chase the market.
6*look for nice and clear impulsive moves.
7*wait for a retrace to fib level 50% or 61% because institutions follow them for entry.and if it is above the previous resistant or below the previous support its better.now its a good setup.
and if it rejected from kelther channel lines its even better and now its an A+ setup.
i can trade with kelthner when its in nice angle with small stop loss.
8*now look for clear price rejecting from that level in the corrective move.
9*play outside and inside bar in the direction of trend not against the trend.
10*if they move quickly dont chase the market.
11*when i enter i dont look at the stocastic.if i do i will miss lots of good trades.because most of the big move happens when stocastic is overbought or oversold.
stocastic is not for entry.only for divergence.
12 *no set up no trade.
13* as soon as i realise market is flat i will stop trading.i will close my trading platform.
-ENTRY-
14* if risk permits me to enter then i will enter other wise i will pass the trade.
15* when i a see big signal bar i will wait for the retrace at the next bar.
16*if it is a inside bar i will enter at the breakout if risk permits me.otherwise i will pass the trade.if it is out side bar i will wait for retrace and enter at the next bar.
17*if its a pin bar or like pin bar. i will enter at the close of the signal bar if risk permits me or i will wait for the retrace.if it keeps moving.there is nothing to worry.another trade is in the corner.
18*if signal bar meet all the above criteria i will enter and put the stop just above or below the signal bar.
--TRADE MANAGEMENT AND EXIT.
19*when i will enter if trade doesnot move in my direction after 3rd bar i will close the trade because there is more chance that it will go against me.there is no reason to hold that trade. unless i see another signal bar in the direction of i am trading.
20* if i do get stoped out.i will wait for another nice entry bar.
21* in the same area if i do get stoped out twice unless its an A+ set up i will pass the 3rd trade.after 3 times in a row i will pass that trade it does not matter how good the setup is .wait for another impulsive move and another setup.
22 *when i will enter the trade if it moves in the direction of mine i will move the stop to break even as soon as it is same as stop loss.
now i am in the free trade.if i do get stoped out nothing to lose.
23* if trade goes in the direction i wanted i will close my possition acoordingly my risk reward ratio.
24* if i follow 2:1 . i will stick with that does not mattter what i do.if i follow 3:1 i will follow and stick with the ratio.
25*i will close the possition when it reached my target.i would not worry about rest of the move.
i am following my rules.
26*if i see any divergence before my target hit i will close the possition as soon as i will see any reversal bar.
27* Be impatient As always, small loses and quick losses are the best losses.
28* Never, ever under any condition, add to a losing trade, or "average" into a position
29* i will be very carefull when any unusual big bar occuare.
----EXTRA RULES---
****Do more of what is working for you, and less of what's not. Each day
***When sharp losses in equity are experienced, take time off. Close all trades and stop trading
***Think like a guerrilla warrior. We wish to fight on the side of the market that is winning, not wasting our time and capital . Our duty is to earn profits by fighting alongside the winning forces. If neither side is winning(flat market) then we don'tneed to fight at all.
****Focus on how you play the game and not on the scoreboard. Trade with discipline and follow your game plan.
****After a win streak, be extra disciplined! Many will make money in the market, but discipline is required to KEEP it.
Stay on your guard at all times!
I HAVE TO REMEMBER
*****No trading rules will deliver a profit 100 percent of the time.******
that was only guidence if you need to change ,adjust them yourself.
allways trade based on rules then emotion wouldnot distruct u while u trading.
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edit :here is a story.its from page 127.post is #1893.to understand this story i am giving u a clue.(king is market)
In ancient times, a king had a boulder placed on a roadway. Then he hid himself and watched to see if anyone would remove the huge rock. Some of the king's wealthiest merchants and courtiers came by and simply walked around it. Many loudly blamed the king for not keeping the roads clear, but none did anything about getting the big stone out of the way. Then a peasant came along carrying a load of vegetables. On approaching the boulder, the peasant laid down his burden and tried to move the stone to the side of the road. After much pushing and straining, he finally succeeded. As the peasant picked up his load of vegetables, he noticed a purse lying in the road where the boulder had been. The purse contained many gold coins and a note from the king indicating that the gold was for the person who removed the boulder from the roadway. The peasant learned what many others never understand.
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EDIT 08-005-2010:for the methood.latest updated pdf version(08-05-2010).its only my posts.for the full understanding read all the thread.
this post is created by one of user name is Alan one.he gathered all my posts till the page 133 and made a pdf file.so if u find helpfull give him a big thank for his hard work.dont forget to read the thread.lots of good questions and answers.in the thread.good luck to you.
here is the zip pdf file.
EDIT:Zone attack.
its a chart from page 134(i belive).
its another phase of this methood .i call this style ZONE attack
http://cdn.forexfactory.com/attachme...2&d=1276602546
http://cdn.forexfactory.com/attachme...8&d=1276602395
http://cdn.forexfactory.com/attachme...9&d=1276602412
------------------------------------------------
if you have any question let me know?
feel free to post your chart.zoom your chart properly not to close not to far so everyone can read the price action.
try to keep your chart simple so you can read the chart properly.
i dont like candle but you can use candle chart.i use colour bar chart.it is much easier to read.
you can use your favorite indicator with price .
indicators are nothing without price confirmation.
its not very easy to explain everything in one post because it took me years to learn.
be patience and take your time to learn the methood
and make your self a good trader.
in this thread i will talk about only fx trades.i use diffrent stratagy for stock and futures.
i will just use basic charts in the first few page will go more advance slowly slowly.
please respect the other traders .no foul language. i will respect u.
if you have any comment or question about the thread or my methood of trading please let me know i will happily try to answer my best.
EDIT:
few important posts from the middle of the thread.
#357
#80
#177
EDIT
kelthner channell
EDIT:
after this thread opened i thought i wouldnot open any more thread but request of others i opened second part of this thread call-- http://cdn.forexfactory.com/images/misc/paperclip.gif intraday price action trend trading.its in the interactive section.
--
that is for active trading all the users will post their trades and help each other .
first part is for teaching and annalyse the trades and if you have any question i will answer in this thread.
second part is for active trading.
1st part=intraday trend trading with price action
2nd part=intraday price action trend trading
EDIT:this post is created by one of the thread user his name is buildcity. its about candlestick/bar pattern.u will find few pdf files in that post.if u can give him a thank as well
post is #1216
it will help you to understand my methood.
EDIT:15-04-2010.
charts(eur/jpy on 07-04 -2010 -15M time frame)
i traded that pair on that day.i am posting here so u can learn something from the charts.i did posted that in someones thread in FF.again posting here.
EDIT:
this picture is about impulsive and corrective move one of the user his name is dave(sutts) he drew that than i did comment on the chart.its from page 77
post #1151
click the image to enlarge
TRADING VIDEOS
click the image to enlarge
edit:01-05-2010
Thanks to all of u.
No one wont be able to post here any more unless u r in my buddy list or u have 10+ vouch.
[b]for the open discussion use my other thread and
i dont want to make this thread too big(131 page so far).u will find a pdf zip file in this post.only my posts and organized by Alanone..(all the page is not listed)
[color=red][b]i wish all of u good luck,
and hope u will find something that will help u little bit in your journey.
please dont use this thread for giving me or any body to give a thanks.hope you understad that.there is many others way you can do that.or use my other thread.
you cant find any holly grail here.i am bit strict what i do.(i know i will upset many,but i am sorry).any one is well come if you are ready to do the hard works.good luck
Best regards
=sho(trade price)=
---------------------------------------------------------------------------------------------------
Inserted Video
Inserted Video
---------------------------------------------------------------------------------------------------
wellcome.
This thread is about price action trading..
i dont call myself a teacher.or i dont think i can teach anybody.
but i call myself a Good Trader.
i dont teach anything here at the forex factory.
i just show how i do trading.
if any one gets anything from me.all the credits to them.
(IMHO -easy to show anything hard to do)
After reading this if you think its not for you.good luck to you.
make an effort to learn any(i mean any good ) methood than market will give you any money.
i cant make u a profitable trader.its u who can make ur self a profitable trader.i dont like to lie because i am trader.it does not matter how good someones methood is as long as u dont give ur self enough time to learn any methood u wont be able to success in this bussiness.so its all depend on ur self.
i know this thread will hurt lots of peoples ego but i am not posting this thread to make anyone happy or unhappy.this thread is not for Arrogant People.dont underestimate what i am sharing with u guys .
This is advance type of scalping so if you are newbie it will be bit complicated for you.
so please learn the basic about the market and candlestick or bar chart formation.
learn the basic of all the pattern like triangle,double top,head and shoulder,flag.the basic of fibonachi,elliot wave,123 formation.search the google or ff for those information. or go to this link( education link )for free basic information about trading and come back here.
if you dont know the basic of those things it will be very hard for you to understand how my methood works.
so please do your home work and read this thread and apply in your trading.if you dont know the basic then this thread is bad for you. you can leave now.dont go any further.but if you are trully care about learning, learn the basic and use this thread.
biggest truth is less then 1%(near zero) scalpers are success full(talking about retail traders)
so if you still think its for u go ahead and use my methood.thats why i encourage new people not to scalp.please dont i am telling you again dont go live.allways demo until ur fully confident with my methood.
how to prepare your mind and body for trading:
each day is diffrent in the market.in every trade u have to manage diffrently .depend on situation.
make a trading plan.and adjust them with ur personality time to time. there is only one hard rule in trading.that is protect ur capital.do what ever u need to do that.
fight with the market to protect that. profit will come if u can save ur capital .
let the market to slap u.dont let it gun shot on ur chest.
let the market to do what ever its wants to do,just save ur self.we dont know the out come of each trade.we will trade as long as the setup meets our trading criteria(what ever methood u follow).
u have to take all the trades ur methood gives u.
if u take one and dont take the other one. u will see the one u did not take was the best one .so trust ur methood and follow.dont change the methood if u know that is good .change your self and your thinking to adjust with the methood.u can only change the methood if methood tells u to do that.(hah hah its confusing).if u are biginer only play conservative setups.wait for the right set ups.and allways play with the trend as long as u dont understand market properly.
if u take the aggressive entrys still try to take the good setups only.
it could be the best system(methood) in the world if u dont know how to use it u will fail.
.who to blame?its allways u.its allways depend how u react with the market movement.
if u follow diffrent stratagy.use diffrent account.it will help u to easily see your trading results and u will understand which stratagy is better.
when u trade allways trade a single stratagy in a trading session.dont mix all the stratagy.this is where disaster will come.dont take revenge trades.u will blow ur account.and off couse when u r making money allways stay on gaurd.overconfidence is no good for trading.dont trade slow time.for day trading we need volatility.
if u use indicators understand what its telling u.
even in the best and obvious setups why most people fails?because its their thinking.in a obvious uptrend or downtrend(parabolic move) dont try to go opposite direction.its allways amatures who allways see revarsal in a strong trend.he/she allways try to take the reversal trade and forget to take the trade in the direction of big order flow.where all the money is.
after every trade clear up your head.if u feel u have to get those money u just lost.thats a big warning signal.stop trading right that moment.shut the platform and do something else.
emotion have no place in successfull trading.
its allways u who is standing infront of your success. there is no way we know what the next setup will do.we would love to .but its not possible.trading is a probability game .if u feel lazy or sleepy dont trade.u dont need to trade every day.trade only when u feel comfortable with ur mind and body condition.before the trade allways watch at least few minutes the market action.what i mean is if you start trade at 9:00 everyday,try to watch the market for 10 to 15 mins.try to get a feel first, how market is moving today,what is the markets plan,is it side way market or trending maket.and make your plan acordingly to the market movement.then if any setup comes take the trade.
most of the time best decision is to stay side line.dont over trade.and dont make trading complicated.the more u complicate the trading, less u will follow your methood.dont force your self to trade only for enjoying.
what moves market?
imbalance of supply and demand moves price.
price moves in trend .trend moves in waves.two type of waves *impulsive waves and *corrective waves
we will trade only impulsive waves because they are bigger and quicker.i will show you impulsive moves and coorective moves.
that is very important.
A loss in momentum is NOT a sign of trend reversal.
speed and momentum is the same thing (for me)
when i combine the speed(momentum)with swing high and swing low that is impulsive move.
with the overall trend normally i use swing high or low and candle formation to count impulsive moves .
when move is against the overall trend we use candle formation, speed and swing high /swing low
to count impulsive move.
when move is against the trend ,if it breaks swing high or swing low if there is no speed(compare with other bars)i wouldnot call it an impulsive move.
it must contain some speed(comparing with the other bars)then i will call it an impulsive move.
when u compare allways compare with the recent opposite move.how long it is takeing.
it is sound hard to do but its not .just keep praticing and watch live market.u will get the idea.
speed- (which is rythem and momentum)that is the key.
when u enter into a trade if u see speed(momentum)is on the other side just get out.u can allways get back in later.
in this thread we will talk about entry, exit and trade management with the price action.
we only trade with the momentum.
with every bar our decision can change we are traders we are not investors.
like if i say i am bullish,close of that bar i will say bearish depend on the price action.
but most of the people doesnot like to change their mind.thats where success and failers comes.
learn to change ur mind in a second with the market.
i use a methood call price action trading.it works all time frame. i use kelthner channel and stocastic.but price action that matter for me.indcator is nothing until you master price action
.i change my mind while trading in a second like market does.my analysis can change with market and price action.
(if u wanna know what is kelthner channel see post #1946 )
if you search the whole net you will find very limited information about price action .some of thems are good, most of them miss guided by the people.
trading is all about managing the risk.if you dont know the price action you wont be able to manage the risk properly.
before placing the trade you have to know where to put the stop loss properly.we must have to know the stop loss before the entry.
yes i do get stoped out so many times .but with a small loss!
price is king !price will tell us whats going to happen next. trading is simple
all the indicators are rubbish without price action.
they will cost you money only.as long as you dont master the price action it does not matter what system you use you will lose.the sooner you belive that its better for you.because you will shorten your learning curve.
if you dont belive me go search for the holly grail.so many trader fails because they does not know the price action.indicator say buy, they go long.indicator say sell,they go short.they doesnot care what the price is telling.i trade what the markets tells me.
timing is every thing. i will prove you trading is simple.
after reading this you will know how look at the chart properly.you will know instantly which direction to trade.
please be patience.give me enough time to tell you and guide you step by step.we will trade what we see not what we think.
no trade without price confirmation.
you will see with our price action trading fibonacci trading,eliot wave trading or other trading, all works because we know the price action.
to succed you have to be discipline. this is not a game.treat it as a bussiness.no over trading.
emotion will distruct you while you trade.price action will help you what to do.i will try to post my trades everyday.i will trade pin bar inside bar outside bar but not all of them.
will stay side line most of the time.entry will be with very low risk.
will wait for the perfect setup.
no setup no trade.
i read peoples behavior through to the chart.
with the charts will know most likely what the proffessional are gonna do next.
we wont be right 100% thats why we will use stop loss.if we win 50% of the time we will make money with proper money management.but you know what? we will win lot more than 50%.
i will show you how to avoid the wrong pin bar or inside bar.
price action is not all about pin bar or inside bar.there is lot more things to do.
i will use support, resistent.
Everyone is wellcome .and please dont vote unless u read the first 100 page.we will help each other to understand the price behaveior.learning never ends.
for the beginer you will only trade with the trend.
when you will have enough screen time you can trade counter trend trade.
with price action you can trade any time frame.if you go to higher than10 minutes signal is better.
some times i do swing trade.my main time frame is 15 minute.
you can trade any pair.i do trade stocks and futures.
for the day trade smaller the spread better.
round numbersare important.keep in mind.
i dont trade asian sesion.i only trade 9:30 am to 17:00 london time .(normally dont trade 13:00 to14:00)(i trade stocks first couple hours of nasdaq session)
i dont trade sideway market. you will see i will post my chart very often.
i would like to share my methood with any body who would like to know. i dont know what you want to know about my methood?feel free and ask me .i will try my best.
i strugled 5 and half years before i discoverd price action is everything.i did read so many books bought so many systems.yes they did work for a short period of time.none of the system worked for long run.
then luckily discoverd the price action and learned the methood.
still learning everyday.
please excuse me for english gramer.i am very bad at english.i am settled in london.still could not learn the english properly.
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EDIT: FEW trading RULES with this methood from PAGE 106 POST IS #1586
http://cdn.forexfactory.com/images/icons/icon1.gif rules
****** MY MASTER RULE IS FOLLOW MY RULES*******
****** TO MAKE MONEY I NEED MOMENTUM SO I WOULD NOT TRADE WHEN MARKET IS FLAT****
-Before entry-
1*i should know what is the maximum amount of pip i want to loss in a trade.
2*before the trade i have to decide am i looking for 2:1 or 3:1? whatever i chose i must have to remember that.
3*first thing look for is =is market trending or sideway?
4*i need clear and tidy chart to trade.
5*dont chase the market.
6*look for nice and clear impulsive moves.
7*wait for a retrace to fib level 50% or 61% because institutions follow them for entry.and if it is above the previous resistant or below the previous support its better.now its a good setup.
and if it rejected from kelther channel lines its even better and now its an A+ setup.
i can trade with kelthner when its in nice angle with small stop loss.
8*now look for clear price rejecting from that level in the corrective move.
9*play outside and inside bar in the direction of trend not against the trend.
10*if they move quickly dont chase the market.
11*when i enter i dont look at the stocastic.if i do i will miss lots of good trades.because most of the big move happens when stocastic is overbought or oversold.
stocastic is not for entry.only for divergence.
12 *no set up no trade.
13* as soon as i realise market is flat i will stop trading.i will close my trading platform.
-ENTRY-
14* if risk permits me to enter then i will enter other wise i will pass the trade.
15* when i a see big signal bar i will wait for the retrace at the next bar.
16*if it is a inside bar i will enter at the breakout if risk permits me.otherwise i will pass the trade.if it is out side bar i will wait for retrace and enter at the next bar.
17*if its a pin bar or like pin bar. i will enter at the close of the signal bar if risk permits me or i will wait for the retrace.if it keeps moving.there is nothing to worry.another trade is in the corner.
18*if signal bar meet all the above criteria i will enter and put the stop just above or below the signal bar.
--TRADE MANAGEMENT AND EXIT.
19*when i will enter if trade doesnot move in my direction after 3rd bar i will close the trade because there is more chance that it will go against me.there is no reason to hold that trade. unless i see another signal bar in the direction of i am trading.
20* if i do get stoped out.i will wait for another nice entry bar.
21* in the same area if i do get stoped out twice unless its an A+ set up i will pass the 3rd trade.after 3 times in a row i will pass that trade it does not matter how good the setup is .wait for another impulsive move and another setup.
22 *when i will enter the trade if it moves in the direction of mine i will move the stop to break even as soon as it is same as stop loss.
now i am in the free trade.if i do get stoped out nothing to lose.
23* if trade goes in the direction i wanted i will close my possition acoordingly my risk reward ratio.
24* if i follow 2:1 . i will stick with that does not mattter what i do.if i follow 3:1 i will follow and stick with the ratio.
25*i will close the possition when it reached my target.i would not worry about rest of the move.
i am following my rules.
26*if i see any divergence before my target hit i will close the possition as soon as i will see any reversal bar.
27* Be impatient As always, small loses and quick losses are the best losses.
28* Never, ever under any condition, add to a losing trade, or "average" into a position
29* i will be very carefull when any unusual big bar occuare.
----EXTRA RULES---
****Do more of what is working for you, and less of what's not. Each day
***When sharp losses in equity are experienced, take time off. Close all trades and stop trading
***Think like a guerrilla warrior. We wish to fight on the side of the market that is winning, not wasting our time and capital . Our duty is to earn profits by fighting alongside the winning forces. If neither side is winning(flat market) then we don'tneed to fight at all.
****Focus on how you play the game and not on the scoreboard. Trade with discipline and follow your game plan.
****After a win streak, be extra disciplined! Many will make money in the market, but discipline is required to KEEP it.
Stay on your guard at all times!
I HAVE TO REMEMBER
*****No trading rules will deliver a profit 100 percent of the time.******
that was only guidence if you need to change ,adjust them yourself.
allways trade based on rules then emotion wouldnot distruct u while u trading.
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edit :here is a story.its from page 127.post is #1893.to understand this story i am giving u a clue.(king is market)
In ancient times, a king had a boulder placed on a roadway. Then he hid himself and watched to see if anyone would remove the huge rock. Some of the king's wealthiest merchants and courtiers came by and simply walked around it. Many loudly blamed the king for not keeping the roads clear, but none did anything about getting the big stone out of the way. Then a peasant came along carrying a load of vegetables. On approaching the boulder, the peasant laid down his burden and tried to move the stone to the side of the road. After much pushing and straining, he finally succeeded. As the peasant picked up his load of vegetables, he noticed a purse lying in the road where the boulder had been. The purse contained many gold coins and a note from the king indicating that the gold was for the person who removed the boulder from the roadway. The peasant learned what many others never understand.
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EDIT 08-005-2010:for the methood.latest updated pdf version(08-05-2010).its only my posts.for the full understanding read all the thread.
this post is created by one of user name is Alan one.he gathered all my posts till the page 133 and made a pdf file.so if u find helpfull give him a big thank for his hard work.dont forget to read the thread.lots of good questions and answers.in the thread.good luck to you.
here is the zip pdf file.
EDIT:Zone attack.
its a chart from page 134(i belive).
its another phase of this methood .i call this style ZONE attack
http://cdn.forexfactory.com/attachme...2&d=1276602546
http://cdn.forexfactory.com/attachme...8&d=1276602395
http://cdn.forexfactory.com/attachme...9&d=1276602412
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if you have any question let me know?
feel free to post your chart.zoom your chart properly not to close not to far so everyone can read the price action.
try to keep your chart simple so you can read the chart properly.
i dont like candle but you can use candle chart.i use colour bar chart.it is much easier to read.
you can use your favorite indicator with price .
indicators are nothing without price confirmation.
its not very easy to explain everything in one post because it took me years to learn.
be patience and take your time to learn the methood
and make your self a good trader.
in this thread i will talk about only fx trades.i use diffrent stratagy for stock and futures.
i will just use basic charts in the first few page will go more advance slowly slowly.
please respect the other traders .no foul language. i will respect u.
if you have any comment or question about the thread or my methood of trading please let me know i will happily try to answer my best.
EDIT:
few important posts from the middle of the thread.
#357
#80
#177
EDIT
those charts for quick review of how this methood works.
kelthner channell
EDIT:
after this thread opened i thought i wouldnot open any more thread but request of others i opened second part of this thread call-- http://cdn.forexfactory.com/images/misc/paperclip.gif intraday price action trend trading.its in the interactive section.
--
that is for active trading all the users will post their trades and help each other .
first part is for teaching and annalyse the trades and if you have any question i will answer in this thread.
second part is for active trading.
1st part=intraday trend trading with price action
2nd part=intraday price action trend trading
EDIT:this post is created by one of the thread user his name is buildcity. its about candlestick/bar pattern.u will find few pdf files in that post.if u can give him a thank as well
post is #1216
it will help you to understand my methood.
EDIT:15-04-2010.
charts(eur/jpy on 07-04 -2010 -15M time frame)
i traded that pair on that day.i am posting here so u can learn something from the charts.i did posted that in someones thread in FF.again posting here.
EDIT:
this picture is about impulsive and corrective move one of the user his name is dave(sutts) he drew that than i did comment on the chart.its from page 77
post #1151
click the image to enlarge
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