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  • #101
  • Dec 1, 2010 2:54pm Dec 1, 2010 2:54pm
It was good for 5 pips anyway. Yea I'd be interested.
  • #102
  • Edited 4:23pm Dec 1, 2010 3:27pm | Edited 4:23pm
Quoting jmag
It was good for 5 pips anyway. Yea I'd be interested.
Heres how to trade price action.. idk if you will find it hard to do.. but when I started it just seemed so easy that I avoided it for a while since it was one of those things that was like "this is so simple it can't work..." but the truth is it is pretty simple and works amazing.. so how to...

Ok, well I prefer the term fractal.. but its the same as swing high/low I believe..
so I will say fractal tho...

your looking for new fractals that are higher.. pretty much with PA you want to know if things forming higher highs or higher lows..

and you could do this on any time frame.. I like short time frames because really you can see the same thing on a 4 hour chart with more detail on a 1 minute chart if you just zoom out far enough on a 1M...

I look to see if price is making higher or lower fractals.. and the last fractal is the only reference point I find I really need.

attachement is what fractals are.. 5 bars is textbook definition... fractals are the market saying "I changed my mind going this way now"

but all thats really important here is not to get confused as its really simple once it clicks.. so lets just go to the charts now and show...


any questions I will try to help but study it for a minute to see if you understand

read pic 1 and then pic 2
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  • #103
  • Edited 4:37pm Dec 1, 2010 4:21pm | Edited 4:37pm
the confusing part of using all this price action is going to be just getting used to it... I feel good teaching it tho.. because no one taught me and it was a pain in the ass to figure out...

because when you start PA you will make all kinds of simple mistakes..

I don't know what would be the #1 rule for price action..

but in order to avoid big mistakes.. make sure you are always referencing the last up and down fractals for your entry points.. you never want to get in a trade at an old fractal..

and remember that when fractals form equal highs and equal lows you in a ranging market.. so you would have to trade that differently.. I will give an example of how to trade a range market at some point..
  • #104
  • Dec 1, 2010 4:41pm Dec 1, 2010 4:41pm
Interesting stuff. Thx. There are so many things to try on price it's like a candy store and I forget what I was supposed to be working on.
  • #105
  • Dec 1, 2010 4:46pm Dec 1, 2010 4:46pm
Just watching the actual fractals and determining if they are higher or lower than there last brother is a powerful thing.. it instantly defines if you are in an uptrend.. downtrend.. or side trend..

price action allows you to not so much.. predict whats going to happen.. but to know simple things.. like..

if price breaks its latest high point it has to form a new high point.. and this is what the market is capable of realistically producing in pips at its current state..

so rather than predict it you more or less just know what its doing and when you know what its doing you can profit from what it has to offer with high chances of success..

and I personally like how price action allows you to avoid the need to look at 3 hours of data and such.. with fractals you can look to see what the markets last decision was.. and all the decisions it made years or hours again don't matter.. just its recent decisions

  • #106
  • Dec 2, 2010 5:26am Dec 2, 2010 5:26am
Quoting newyear498
Just watching the actual fractals and determining if they are higher or lower than there last brother is a powerful thing.. it instantly defines if you are in an uptrend.. downtrend.. or side trend..

price action allows you to not so much.. predict whats going to happen.. but to know simple things.. like..

if price breaks its latest high point it has to form a new high point.. and this is what the market is capable of realistically producing in pips at its current state..

so rather than predict it you more or less just know what its doing...


are you up on your pip count this week ? how are your trades going ?


regards
  • #107
  • Dec 2, 2010 9:18am Dec 2, 2010 9:18am
Quoting whatfx
are you up on your pip count this week ? how are your trades going ?


regards
Yeah I'm up.. a main part of my strategy is to get one decent trade.. sell half of it and trail the other half with trend putting stops under pull backs..

like right now I put a trade on and sold half at 8 pips.. now the other half is trailing and so far up 50+ pips

like.. thats the secret to my trading.. let half run until its stoped.. essentially I already made profit and can only make more
  • #108
  • Edited Dec 3, 2010 12:07pm Dec 2, 2010 12:58pm | Edited Dec 3, 2010 12:07pm
Today has been a blessing.. 2 huge 50ish pip rally's that I rode up.. up 1.5% my account so far

so anyways.. for ranging markets just identify when fractals have equal highs and lows.. buy when they get close to the same point and are slowing down..

I like to have limit orders about 2.5-4 pips above and below the range (which is where my stops are also.) so when it breaks out of a range

Like I said IDK how well you can see my historical trades.. a lot of selling half my lot moving stops to BE and letting ride when it happens..

you can also see I walk away from the charts for a while when I'm not sure what the market is doing until I feel better.. I mean 50 pip rally from news and whats it really gonna do next lol just dragging ass...
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  • #109
  • Dec 2, 2010 1:09pm Dec 2, 2010 1:09pm
Here are the trades I took today. In general I have been trading 1 minute momentum candles at around pivot points (midpoints) and 100 200 5min SMA. I never knew about the heiki-ashen candles and how to use them. Trying to always be in the action is definatly not my thing and always leaves me down 3% at the end of the day. I'd rather take a few swings a day and some times only 1.
Just by using the 5min heiki-ashen candle for direction and as stop loss seems to improve my confidence. I use the levels above for entries and profit targets. Anyway thanks NY
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  • #110
  • Dec 2, 2010 1:23pm Dec 2, 2010 1:23pm
I pretty much picked the bottom on this one.. already sold half and now its just riding the new trend
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  • #111
  • Edited Dec 3, 2010 12:12pm Dec 2, 2010 1:58pm | Edited Dec 3, 2010 12:12pm
Here is a secret system I developed when I was first starting out.. just buy when all the indicators signal to..

Figure this post would help anyone who would prefer an indicator setup over price action

Like I said developed it when I first started trading.. when I FIRST STARTED.. I had a huge upper hand on all those professionals who don't use indicators HAH!!!!
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  • #112
  • Dec 2, 2010 2:49pm Dec 2, 2010 2:49pm
I hope everyone understands I was joking
  • #113
  • Dec 2, 2010 5:10pm Dec 2, 2010 5:10pm
Quoting newyear498
Today has been a blessing.. 2 huge 50ish pip rally's that I rode up.. up 1.5% my account so far

so anyways.. for ranging markets just identify when fractals have equal highs and lows.. buy when they get close to the same point and are slowing down..

I like to have limit orders about 2.5-4 pips above and below the range (which is where my stops are also.) so when it breaks out of a range

Like I said IDK how well you can see my historical trades.. a lot of selling half my lot moving stops to BE and letting ride when it happens..

you...
where can we get the fractals indicator ?
  • #114
  • Dec 2, 2010 5:19pm Dec 2, 2010 5:19pm
Quoting whatfx
where can we get the fractals indicator ?
fractal indicator comes with MT4

but I find them with my eyes.. for an example of up fractal all you look for is one point thats higher than two candles before and after

simple.. and reverse for down fractal
  • #115
  • Dec 2, 2010 5:54pm Dec 2, 2010 5:54pm
Quoting newyear498
Here is a secret system I developed when I was first starting out.. just buy when all the indicators signal to..

Figure this post would help anyone who would prefer an indicator setup over price action

Like I said developed it when I first started trading..
ou secresy,,so many indicators interpreting the same thing and thats price action ,i advise u to take the course of vsa,thats the only true method,

vsa with pivots and fibos,channels and ma's ,
  • #116
  • Dec 2, 2010 6:40pm Dec 2, 2010 6:40pm
Quoting dragan53
ou secresy,,so many indicators interpreting the same thing and thats price action ,i advise u to take the course of vsa,thats the only true method,

vsa with pivots and fibos,channels and ma's ,
It was a joke
  • #117
  • Dec 2, 2010 6:41pm Dec 2, 2010 6:41pm
lol
  • #118
  • Dec 3, 2010 11:49am Dec 3, 2010 11:49am
Hi Ny,

Putting in a request for more fractal stuff. The last example was on catching the trend change in direction. Do you play an ongoing trend with these? And also
Quote
I will give an example of how to trade a range market at some point..
Thx
  • #119
  • Edited 12:20pm Dec 3, 2010 12:10pm | Edited 12:20pm
Quoting jmag
Hi Ny,

Putting in a request for more fractal stuff. The last example was on catching the trend change in direction. Do you play an ongoing trend with these? And also Thx
Yes I will play this on an ongoing trends.. its a good way to get in if your late to the party

Oh yes, See post 108.. its a range example.. Honestly range trading is great because risk to reward is almost always amazing..

like I said see post 108 for my example of how I trade it.. tweak how you see fit..
  • #120
  • Dec 3, 2010 1:23pm Dec 3, 2010 1:23pm
Sry I should have looked more closely at your following charts. I'm catching some action here.
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