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  • #89,061
  • Apr 23, 2009 11:11pm Apr 23, 2009 11:11pm
Quoting jpa0827
Well, If i works for you then great. If not, then I strongly recommend your next strategy be price action trading. To me, there is no better way. Good luck!
if you know where price is going to stop and reverse isn't that good too?
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,062
  • Apr 23, 2009 11:14pm Apr 23, 2009 11:14pm
Quoting 2 + 2 = 4ex
I have a new winning strategy!:

First I draw my S/R lines on my chart,

then I draw trend lines,

then I study some indicators,

then finally I do opposite of what I think is going to happen.
I lost a few pips myself. I should have employed your strategy. But I'm still up this week. I went against retrace and lost my hat.
  • #89,063
  • Apr 23, 2009 11:16pm Apr 23, 2009 11:16pm
Definitely, Basically PA is trading certain candle shapes Ex: pin Bar, inside bar, outside bar, etc. at major support or resistance. Also use major Fibs for extra confirmation, but for the most part the charts are naked. I have found the hard way, that too many indicators just confuse you.
"Luck favors the prepared mind"
  • #89,064
  • Apr 23, 2009 11:17pm Apr 23, 2009 11:17pm
Quoting eaglestar
if you know where price is going to stop and reverse isn't that good too?
I think it's good! There's one charting setup I use to assist in knowing where the trend has stoped and/or reverse is Heikin Ashi
  • #89,065
  • Apr 23, 2009 11:20pm Apr 23, 2009 11:20pm
Quoting Jhig
I think it's good! There's one charting setup I use to assist in knowing where the trend has stoped and/or reverse is Heikin Ashi
i dunno, maybe my computer is not displaying the chart accurately. All I see is lines everywhere. Not making fun of this. Like I said, if it works then by all means kee doing it. Thats why we are here. To make money! Anyway, good Luck in all future trades. Just wanted to see what this thread was like.
"Luck favors the prepared mind"
  • #89,066
  • Apr 23, 2009 11:27pm Apr 23, 2009 11:27pm
Quoting jpa0827
i dunno, maybe my computer is not displaying the chart accurately. All I see is lines everywhere. Not making fun of this. Like I said, if it works then by all means kee doing it. Thats why we are here. To make money! Anyway, good Luck in all future trades. Just wanted to see what this thread was like.
lines are fibs dashed lines are s/r trendlines usually form channels top down black blue green red but sometimes i don't follow colors looking to standardize it sometimes similar colors are too close together. i look for fib convergences rejection of s/r and bounces off of fib levels and channel lines. sometimes if i am late to the game i pull up a slow stochastic to show what price has been doing. i liked heiken ashi but gave it up my method is combination of my instructors chris lori black knight steve nison tim morge and soon to be robert miner. lines are the fortune tellers. if you have a reliable price action system i would like to know it so i can learn more. show me/send me a link. thanks
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,067
  • Apr 23, 2009 11:32pm Apr 23, 2009 11:32pm
i guess my system is somewhat price action. wait for price to hit a fib, s/r, channel and reverse for major risk reward. maybe more like swing trading. i don't know all the lingo lol
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,068
  • Apr 23, 2009 11:35pm Apr 23, 2009 11:35pm
Quoting jpa0827
i dunno, maybe my computer is not displaying the chart accurately. All I see is lines everywhere. Not making fun of this. Like I said, if it works then by all means kee doing it. Thats why we are here. To make money! Anyway, good Luck in all future trades. Just wanted to see what this thread was like.
some templates don't work correctly if you have an indicator on it. try this with fxpro. i removed the stochastics.
Attached File(s)
File Type: tpl eurusd042309-v05-2$.tpl   19 KB | 264 downloads
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,069
  • Apr 23, 2009 11:37pm Apr 23, 2009 11:37pm
Quoting eaglestar
lines are fibs dashed lines are s/r trendlines usually form channels top down black blue green red but sometimes i don't follow colors looking to standardize it sometimes similar colors are too close together. i look for fib convergences rejection of s/r and bounces off of fib levels and channel lines. sometimes if i am late to the game i pull up a slow stochastic to show what price has been doing. i liked heiken ashi but gave it up my method is combination of my instructors chris lori black knight steve nison tim morge and soon to be robert miner....
Ok, well After looking at your charts they just look a little busy. I'm a huge fan of areas of confluence, which are basically your overlapping S/R lines. you might want to consider setting up your FIBs so that only the nearest relevant levels are shown. That should help clear up some of your chart. Only suggestion. As for a great thread to learn on. I have just found these in the past few months and Am new at PA myself, but i'm telling you. it is easy to pick up on. Check out James 16 chart thread and Jacko's house thread. Both are highly educational. Also, I just joined Nial fullers "Learn to trade the market" and have learned a lot about PA. Good Luck. You can always PM me if you need anything.
"Luck favors the prepared mind"
  • #89,070
  • Apr 23, 2009 11:39pm Apr 23, 2009 11:39pm
Quoting jpa0827
Ok, well After looking at your charts they just look a little busy. I'm a huge fan of areas of confluence, which are basically your overlapping S/R lines. you might want to consider setting up your FIBs so that only the nearest relevant levels are shown. That should help clear up some of your chart. Only suggestion. As for a great thread to learn on. I have just found these in the past few months and Am new at PA myself, but i'm telling you. it is easy to pick up on. Check out James 16 chart thread and Jacko's house thread. Both are highly educational....
you are now on my buddy list.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,071
  • Apr 23, 2009 11:40pm Apr 23, 2009 11:40pm
Oh Ya, by the way. If you look at either of these threads an seriously want to learn from them. Read from beginning to end. It is long as hell But well worth the time.
"Luck favors the prepared mind"
  • #89,072
  • Apr 23, 2009 11:44pm Apr 23, 2009 11:44pm
Cool, Well I'm done for the night. tomorrow's a new day.

Good trading and seriously consider PA, I refuse to trade any other way now that I know what it is.
"Luck favors the prepared mind"
  • #89,073
  • Apr 23, 2009 11:54pm Apr 23, 2009 11:54pm
Quoting 5abi
I hope we are talking shorts here...

The rectangular region is the level where I will like to add some shorts. No trades for me tonight/right now as I will like to let it reach to 3200's before I can comfortably short. So I have entry orders at there. FYI, 3200 is important interactions of price over last 2-3 weeks. It will be very hard for it to cross 3250, just my opinion. 3400 will be my stops set at.

All trade well.

I have posted last week that we're on downtrend channel, we can see 1.32 for high and 1.29 for low. I will short from 1.3150 or 1.3200 but I'm curious whether there is profit taking spike for the last 4 days?
  • #89,074
  • Apr 23, 2009 11:54pm Apr 23, 2009 11:54pm
Quoting jpa0827
Cool, Well I'm done for the night. tomorrow's a new day.

Good trading and seriously consider PA, I refuse to trade any other way now that I know what it is.
thanks for the input. very cool
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,075
  • Apr 24, 2009 12:01am Apr 24, 2009 12:01am
hom much pips daily you make guys?
  • #89,076
  • Apr 24, 2009 12:06am Apr 24, 2009 12:06am
Quoting SilverShark
hom much pips daily you make guys?
it isn't about how many pips it is about how much percentage. you could take a trade with 50 pip sl and 1% risk or a trade with 5 pip sl and 1% risk. i am getting back in the swing of things (pun) my best week was 2 weeks ago with 76% increase but need to study up on mark douglas to learn to control emotions. I have had also huge drawdowns due to emotion. that is not a boast or humility by the way. God is so great he let me learn about forex. it is now my passion. if you took a trade from the black daily trendlines in my templates you could get in woth i very small sl and have risk of 30:1 or 40:1 on some trades i am traying to get to the point where i can get spot them, take them witha tp in tact, and bank some major pips.
The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,077
  • Apr 24, 2009 12:09am Apr 24, 2009 12:09am
vulture, akirax, et al. .....thanx.
Si vis pacem, para bellum.
  • #89,078
  • Apr 24, 2009 12:12am Apr 24, 2009 12:12am
i ask because i have a problem...i am a new in this thing a and for now first month with real account is i increased account for about 30% but i risk over 50% of my account...and daily i make between 100-170 pips but at the end of the day i am -50 pips...or -$50...where i make mistake??
  • #89,079
  • Apr 24, 2009 12:14am Apr 24, 2009 12:14am
made one short today with 10 pip sl got out at +14 for 1.4:1 risk reward. if you would have taken this trade with 10 pip sl you could have a potential 15:1 rrr this is pretty good to me.
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The things that we love tell us what we are Thanks Redsword11 and Tim Morge
  • #89,080
  • Apr 24, 2009 12:17am Apr 24, 2009 12:17am
ok, i must learn to control my emotions...i already learned to be patient...and one more thing, somethimes i enter too late or exit too early...
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