sure ghous. It's based on simple support/resistance trading and some info from a great book. Check out 'favorite trading book' in my profile...
it's really great, once you practice, practice and practice it for a while..
Hi raczekfx,
could you please elaborate a bit on how u manage the SL and TP based on this support/resistance trading?Thank you.
When trading S/R, my stops are no greater than 35ps. The larger position, the smaller my stop is, and I'm very picky with S/Rs setups. If I do my homework properly, they're rarely hit. TPs are usually next S/R levels, unless something tells me to close early. I close half and move stop to BE +2 at that time.
When trading PA, I place stops 10-20ps below 'the setup bars' (PB, be/uovbs, IBs, etc) and sometimes they can be as large as 300ps as it was the case with cable's beovb on Nov.9, 2007. Hope this helps.
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Thanks raczekfx for the prompt reply.Do you have criteria when selecting the support/resistence you are going to place your limit order? In other words how do you find an efficient support/resistence? Your performance really amazed me.Thanks.
start with monthly tf and look for s/r, go down to weekly, daily and do the same thing. If s/r on a higher tf corresponds to one on the lower tf, you have much better chances it will hold again. When doing this, I had about 80% W/L ratio. If you just pick a random s/r on lower tf, chances it will hold are dramatically lower. If you pick s/r 'with a trend' (on price retrace), your odds are much greater than playing one against the trend.
If you're fairly new to trading, I'd forget about playing s/r until until you make money consistently using...
Basically my trading strategy is based on s/r + price action that i learn from this thread. But my result is not so good.Maybe I need more time to master it.BTW this is the trade that i took just now,buy on the break of 1hr pin. 
start with monthly tf and look for s/r, go down to weekly, daily and do the same thing. If s/r on a higher tf corresponds to one on the lower tf, you have much better chances it will hold again. When doing this, I had about 80% W/L ratio. If you just pick a random s/r on lower tf, chances it will hold are dramatically lower. If you pick s/r 'with a trend' (on price retrace), your odds are much greater than playing one against the trend.
Great post raczek.
As you noted on the James16 video in the guest section on the James16 Group being worth $Ks, I believe this post as well is worth just as much.
Example: 4 Pin Bar on the Usd/Cad, 11-25-08. (metatrader - Alpari)
Although the PB was not the best in location or size, the strength in the move came from the Daily PPZ.
http://www.forexfactory.com/showpost...ostcount=15742
Don't you agree that trading somewhat has become real difficult?? Could be the end of year lack of volatility, and if so this is my first ever experience of it, a pretty pathetic one though
I wouldn't say "difficult" it just requires a little more patience in looking for quality set-ups. It can alwys be better.
I am being somewhat impatient and too carried away by the "not so easy" flat out profitable trades that were around in the previous months, I do need to adjust my mentality a bit and learn to trade in such markets, just hope this goes on for the next month or so lol! No offense 
Thanks Jim,
I thought, I'd throw a few charts in addition to my latest post.
That red line on every chart is the same, monthly ppz......
I'm not going to say much, but those charts are worth all the money, you ever spent on trading courses, paid signal service, mentorship, etc. (with one exception j16pf)
I use a system that takes advantage of trading s/r on higher tf without use of even one indicator. It's not intra-day trading, but It just rocks, day in day out. It won't matter if dow plunges 20 or 50%, it just keep going and going.. green.
happy...
and 
and ofcaorse 
...I am still wondering what's going wrong with me, the markets have somewhat broken into ranges and periods of consolidations and even when i am getting into some loss situations this was a scenario i was waiting for, the true test of a trader is during these times, i am struggling for now but hope to rectify my errors
and shrinked to half my second live mini account.When watching charts I've got this itchy tricky finger trigger which is not helping me. If i dont sort it I will never see the bright side.
