Nice strategy. I'm a new trader and currently studying price action. I like this strategy of your that capturing very big profit because I don't mind the winning percentage. Currently trading CHFJPY with 4 open position and 500pips+.
Well it's been about 8 years since I posted this thread and the other one, and getting on for 4 years since I posted at all.
Been busy with life, work, trading etc.
I'm just about retired now - forex trading has replaced my salary so I don't need to work any more. In fact I live overseas from my home base now.
I hope people are still using price action - support and resistance. I just use horizontal lines on the simplest of charts and it seems to work for me nearly all the time. It's an old method to trade, but it works. Don't give up with it. Risk only 0.5% or 1% with a RR of 1:1.5 or 1:2 and following a decent strategy the profits should come.
I'll mention it again - only risk max of 1% of your pot or funds if you can. Risk Mgt is THE most important part of trading.
Hi all, Well it's been about 8 years since I posted this thread and the other one, and getting on for 4 years since I posted at all. Been busy with life, work, trading etc. I'm just about retired now - forex trading has replaced my salary so I don't need to work any more. In fact I live overseas from my home base now. I hope people are still using price action - support and resistance. I just use horizontal lines on the simplest of charts and it seems to work for me nearly all the time. It's an old method to trade, but it works. Don't give up with...
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Hello PHarley, i have been learning how to trade since 3 years ago and yet haven't seen a single day in profit.
Can you suggest me where to focus or what to be aware, maybe i am wrong all these years.I dunno
I would really appreciate if you respond me, thank you
{quote} Hello PHarley, i have been learning how to trade since 3 years ago and yet haven't seen a single day in profit. Can you suggest me where to focus or what to be aware, maybe i am wrong all these years.I dunno I would really appreciate if you respond me, thank you
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Hi there,
Sure I can try to help. It's best to send me a pm - let me know what you're doing with trading - how you're trading, timeframe, method, risk etc.
Here is another I took more recently on the GBPJPY. I wasn't able to get in front of the charts as much during this run, and only entered 3 times but still managed to get just under 1750 pips (only 2 trades are shown): {image}
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Out of curiosity if you are still around Pharley, why did you first enter? I thought you were waiting for Daily to reach a support zone, which it did, and then give you a PA "confirmation" like a Pinbar or something.
