Price Behaviour Trading - Gossip and Banters

some profit booked on positions @BE and out now..
lazy market will try some other yen pair or any other setup another time...
see ya tom...

UC traded well and I netted 100 pips @ 10760.
UCHF was closed @ BE.

Looking forward to buy UC again @ 10666 with SL of 30 pipees...

very good ride....
Bought UC it at 066 then ditched for another 90 pips 075 (double top)...
went long with cable @ 56..
did some scalps on EG..
what a day free money was on distribution

Trend hasn't changed yet... I would still look to buy $ currencies when the time is right.


ta
ams

Hi Folks,

Thank you for looking into the thread.

Sorry I've not been able to post much since I've been busy at work.
Hope to contribute some and see some from you folks as well.

I am taking trades but not posting them on the thread without reasoning as I cannot post charts at the same time without being noticed by my boss

Good luck with your trades. You can PM me for any questions you have and I'll try to answer if I can.


ta
ams

Hey Folks,

I am now Long on UC @ 1056xxx and short on AU @ 0888.

Earlier long I took for AU @ 87500 profit booked on it (not mentioned here but on AU thread since most of the crowd was shorting). Hedging my position on AU now.

Had some nice trades on EG. Shorted the sucker on every rally and paid well!

Reason for trades, charts attached.

ta
ams

Nice going Ams.
I have been watching the 8833 level EG, it definately worked today.

Thanks Nic!

Yup, I say it's freebies on EG, UC, AU...
Scalping on and off..
How's the week far for you?


ta
ams

Au short close with some good profit. Long still active for which I was hedging.
UC closed for - 20...all in all good day!


ta
ams

Last week brilliant, this week not so good. I wish I was more consistent. I don't like riding out retraces on my positions in the good times but the bailout / no bailout market swings did my head in and hurt my PnL this week.
Not sure I will trade tomorrow, sometimes going into a US holiday weekend, positions are closed and the market acts strangely.

Happy to hear its all good for you

sorry to hear that mate..
markets are confused and crazy from last few weeks infact since the begining of this year. Until this issue with greece is solved they will act this way. Imagine we are in a bull run (down above 10k, ftse above 5k) but going bear because markets don't want to sell below these levels. The moment dow goes below 10k someone pulls the buy trigger.

IMO, it's best to scalp. Do not hold swing trades. That's what I've been doing since last few days. I had a stupid position on cable I held for 2 weeks, it went nowhere so I cached it for little whatever profit which I think paid for brokers fee, interest etc. Then sucker went UP 200 pips

All the very best to you, and hope get you PnL on track soon.


ta
ams

Am still new to forex and i was wondering how pricce action works.I dont like taking other peoples trades so i really need to learn how it works that most people have very good trades.I always enter late or close out early which is really frustrating.What do you use...trend lines,past s&r,fundamentals??
Will really appreciate a write,article anything that will improve my trading.
Big pips to you!!

Hey folks,

It's been a while since I posted, so I'll start posting regularly from now on.

As mentioned, I will be posting what pros think and they intend to do.
This is based on information gathered from professional market traders. I request you to not follow any of my calls or my analysis but trade your charts instead. Regardless of all my postings based on the market info, "I will still trade my charts based on prive behaviour, and ignore what market analyst thinks". It's important for me to know what market thinks as sometimes it helps you gauge the sentiment not necessarily trade their way.

I will generally be posting info on forex indices rather then usual trade calls, as indices are the one decides the future course of individual currency.

1. Dollar Index.
2. Euro Index
3. Pound Index.
4. Swiss Index
5. Yen Index
6. Canadian Index
7. Aussie Index
8. Kiwi Indea

Kiwi index couldn't fit in the post. So here it is.

Great charts Ams,
Really happy you are back posting!

This article in no way suggest using the method or technique mentioned here but your own charts and indicators or any other trading methods.

With this article, I would like to highlight the importance of PRICE BEHAVIOUR TRADING which takes you away from "the day trader" habit and puts you into the category of swing / position trader.

To become a successful trader, it is very important to understand how "human behaviour" is "reflected" in the "price behaviour".

Your profit and loses comes in two parts, mental and physical.
I know physical money seems very important to win or lose. However, "Mental" is the most important and expensive capital you can have. Why?

Holding onto a losing position costs you much more beyond physical capital, what we don't realize is the effect on our health, until we are faced with GP and health report in front of us. Trading causes anxiety, nervousness which is the "root cause" of many evil.

There is nothing more to Price Behaviour trading then "Human Fear and Greed ruling the market".

To make anything a success, it needs to be researched properly, needs discipline, rules, regulations and regular monitoring or revision of performance.
Trading is no different.

Easy to say trend is your friend. But what is a trend?

If it was that easy to find, we would be millionaires by now :-)

My theory, look at the plain chart, start from left, and then go to right. What do you see? That is the immediate trend you are in.
Not that it's going to remain that way forever, but that's the road it's following presently. It will let you know (strongly) when it decides to alter it's path.
If we were on a road and a heavy lorry starts moving in the wrong lane and small cars are crushed, we call it an accident. Price behaviour reading enables you to read where the lorry is going, and what should be done, should it alter it's path to avoid accident.


1. Monitor charts, start with the weekly and move onto daily then 4 hour and hourly.
2. Ask yourself, where should I define my entry and exit and state a reason why you are defining them.
3. What is my Return ratio i.e. R:R. 1:2 i.e. 30 pips SL and 60 pips profit etc.

I have included 2 charts explaining how to read price behaviour. Most importantly, how to react after reading.

If you can understand the rules of price behaviour and follow some rules. Your trading will be consistent and you do not need to sit in front of the screen and "doubt yourself", you put yourself away from the emotional rollercoaster and health disaster you might come across with age (if you still have some capital left and still are lucky enough to survive without any method). It's better to be wrong then doubting yourself.

I hope this article helps you in some way.


Thanks
Ams

Good to see here mate...

I am following your blog as well.

ta
ams

Loving your posts man keep them coming more posts about price behavior

If I were to go long on GU for scalping only. The chart below shows why I would do that and where my SL would be.

Not that I suggest you go long. I already shorted GU this morning and banked few pips as mentioned in the chart. Major short order set @ 53500 which I'll watch and might cancel based on circumstances.

EDIT: Like to go long @ 150isshh level with SL @ 14980-700. Only to gain 40-50 odd pips. Else, if 150shh not reached, I'd rather wait on side and look for another setup. This line of trade need patience :-)


ta
ams

this order was not filled yesterday and canceled it.
Only looking to short the weekest currency unless I see it clearly breaking 53500 which might alter my mind to go long.

I am mostly long on yen and the dollar i.e. short on pairs opposite.

ta
ams

Guess my take on not going long was right..something miraculous altered my mind...you know what... price behaviour

My trader mate was right, hats off to him and lots of beers over the weekend. No buying for pound only sell rallies.

Account all blue, 300+ pips on each yen pairs and 200+ on pound.

ta
ams