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Pure Price Action Trading

  • #221
  • Mar 8, 2013 1:46pm Mar 8, 2013 1:46pm

Week started very slow, we had somesmall scratches at the beginning of the week, but as the week progressed, wecaught some good trends and managed to cover our early losses. The two tradesthat have worked ok for us are the long gbpjpy and eurnzd...2nd targets havenow been reached at 220 pips and 160 pips respectively, stop loss order forlast position on gbpjpy has been moved to lock in 110 pips.

Last position on eurnzd has beenstopped out at 80 pips

Todays Total = 460 pips

Weekes Total = 510 pips
  • #222
  • Mar 11, 2013 5:35am Mar 11, 2013 5:35am
First day of the week, usually quite, watch euraud, price is at yearly open. Aussie has been dropping, but the pair seem to have trouble every time price gets to 1.0200...keep an eye on this support, if it breaks to the downside, play the pullback, if it fails to breakout, watch for a push higher...am favouring a push higher towards the 1.0300 handle. If it pushes above 1.0300, price can easily retest tha 1.0400 handle which also near the yearly open (1.03927). Also watch that price is riding the down slopping TL on 240 chart.

We are still long gbpjpy from 141.50, stop loss order on the last position has been moved to lock in some profits at 142.60.

Aussie

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  • #223
  • Mar 12, 2013 9:21am Mar 12, 2013 9:21am
Quoting Tradingplace
First day of the week, usually quite, watch euraud, price is at yearly open. Aussie has been dropping, but the pair seem to have trouble every time price gets to 1.0200...keep an eye on this support, if it breaks to the downside, play the pullback, if it fails to breakout, watch for a push higher...am favouring a push higher towards the 1.0300 handle. If it pushes above 1.0300, price can easily retest tha 1.0400 handle which also near the yearly open (1.03927). Also watch that price is riding the down slopping TL on 240 chart.

We are still long...
Time to be taking some profits off the table if you took a long on this pair...reduce exposure by moving stop loss order to breakeven. A retracement to 1.0280s might be possible before we see another push up...2nd target should be around the yearly open where you expect some trouble again.

on another note, our long gbpjpy from last week has been stopped out at +110 pips on the last position

Todays total = +110 pips (0.33 percent)
Weeks Total = +110 pips (0.33 percent)
  • #224
  • Mar 13, 2013 6:21am Mar 13, 2013 6:21am
Another slow week for us, no trades taken this week...just seating on our hands and waiting for setups. Thats the beauty of swing trading, you have plenty of time to look at charts and make trading desicions without rushing. Watch gbpjpy for a head and shoulders forming on the daily chart...that could be interesting for trading next week or later this week.
  • #225
  • Mar 14, 2013 4:24am Mar 14, 2013 4:24am
Quoting Tradingplace
Time to be taking some profits off the table if you took a long on this pair...reduce exposure by moving stop loss order to breakeven. A retracement to 1.0280s might be possible before we see another push up...2nd target should be around the yearly open where you expect some trouble again.

on another note, our long gbpjpy from last week has been stopped out at +110 pips on the last position

Todays total = +110 pips (0.33 percent)
Weeks Total = +110 pips (0.33 percent)
Price retraced back to the 1.0280s, where a trader could have added or those who missed the bus could have jumped in. Still be waiting for 2nd target, but stop loss at BE, there is more room to move to the upside, but price is more likely to struggle around the yearly open and drop could be possible, but overally we think that the market is at a stage of accummulation.
  • #226
  • Mar 14, 2013 1:53pm Mar 14, 2013 1:53pm
Quoting Tradingplace
Price retraced back to the 1.0280s, where a trader could have added or those who missed the bus could have jumped in. Still be waiting for 2nd target, but stop loss at BE, there is more room to move to the upside, but price is more likely to struggle around the yearly open and drop could be possible, but overally we think that the market is at a stage of accummulation.
2nd target around yearly open could have been reached...now price might struggle to get thrpugh the yearly open and the 1.0400 handle...a deep retracement could be possible...but since you are at a strategic advantage, you can play it safe by hiding stop loss order of last position under the last swing low around the 1.0270s zone

Thats how I trade...you could have seen how I walked you through a trade from start to end...my thought process before the trade and my thought process during the trade...what levels I look for to take profits...what levels I expect price to struggle. Its all reading price and reacting accordingly....I dont know any secrets or know which Big Bank is buying or selling.

I will compile all the posts on this Aussie trade in one post for learning purpose....
  • #227
  • Mar 15, 2013 11:24am Mar 15, 2013 11:24am
Nothing to update, been a very quite week for us...out of the 7 pairs we trade, we didnt have any trade. But we managed to take some profits from long gbpjpy from last week..

Weeks Total = +110 pips (0.33 percent)
  • #228
  • Mar 18, 2013 7:21am Mar 18, 2013 7:21am
Some interesting charts today...we have seen a few pairs that have gapped..so we wait and see if there is going to be a follow through or trapped traders. We dont play the gap fill, but we keep an eye to see how price will react after the gaps are filled...or if price fails to fill the gap. We mentioned gbpjpy daily chart forming a head and shoulder pattern, the 240 looks like it might form a HnS...interesting to see how these will play. Eurjpy seem to be forming a double top on the daily...if you look closely, you can notice that we are also forming a wedge...

Gbpjpy Daily

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Eurjpy Daily

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  • #229
  • Mar 20, 2013 5:00am Mar 20, 2013 5:00am
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  • #230
  • Mar 21, 2013 1:59pm Mar 21, 2013 1:59pm
Last week we didnt get a setup at all, so there were no trades....not new to us, we had gone with no trades for 2-3 weeks. Patience and discipline to stick to your trading method pays off in the end...you can avoid over trading or trying to force trades. If we dont get a setup, we dont trade SIMPLE. .... NO SETUP...NO TRADE.
Today was the first day we had setups since last week....we are currently long gbpaud from 1.4600...this trade is not looking good, but we stick to the plan. We took a short on eurjpy and gbpjpy this morning...1st and 2nd target has been reached short eurjpy at +80 pips (0.33 percent) and +160 pips (0.66 percent) respectively. 1st target has been reached on short gbpjpy at +90 pips (0.33 percent), stop loss order of last 2 orders has been moved to entry point.

Todays Total = +330 pips (1.32 percent)

Weeks Total = +330 pips (1.32 percent)

Eurjpy

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Gbpjpy

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  • #231
  • Mar 22, 2013 1:00pm Mar 22, 2013 1:00pm
We took three trades this week after a very long time of no activity. Two trades have been stopped out and we are still long Gbpaud from 1.4600...trade still not looking good, but we stick to the plan and will hold it over the weekend. Last 2 orders on Gbpjpy have been stopped out at breakeven and last order on Eurjpy has been stopped out at +80 pips.

Todays Total =+ 80 pips

Weeks Total = +410 pips (1.65 percent)
  • #232
  • Mar 26, 2013 7:11am Mar 26, 2013 7:11am
Gbpaud from last week has been stopped out for a full loss, our first full loss this month. No trades so far this week, we just have one pending order and Gbpaud might be setting up for us again.

Todays Total = -420 pips (1 percent)

Weeks Total = -420 pips

Gbpaud Chart


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  • #233
  • Mar 27, 2013 10:05am Mar 27, 2013 10:05am
We had eurusd orders that were not filled on our platform. When we asked our members, it seems some of the members were filled and some were not filled. So we will record the trade as a loss in our trading performance even if we haven't been filled...we take the worst result from our members I think that reflects the true results of the method. This is the first trade to have a mixed results due to difference in spreads.

Todays Total = -150 pips

Weeks Total = -570 pips
  • #234
  • Apr 2, 2013 4:38am Apr 2, 2013 4:38am
Last Weeks Results

We have done ok in the first quarter...some weeks have been very slow, but we managed to cut our losses quick. Last week of the quarter was the worst week where we lost 1.67 percent. We had two full losses, long Gbpaud was stopped out for -420 pips, Eurusd was not filled on our platform, but some of our members were filled and were stopped out for a full loss -150 pips...we then took a long gbpaud from 1.4490 and has reached first target, we have stop loss at BE waiting for 2nd and final targets.

Total = -490 pips (-1.67 percent)(for members who had eurusd filled)

Total = -340 pips (-0.67 percent) (Eurusd not filled)

Because of the mixed results, we always take the worst result to record in our trading perfomance. We take one for the team.

Weeks total = -490 pips (-1.67 percent)
  • #235
  • Apr 2, 2013 4:50am Apr 2, 2013 4:50am
First Quarter

First quarter was very slow, our worst weekly result was -1.67 percent, our best result was 3.53 percent..we had 5 losing weeks out of 13 weeks, with a total loss of -2.82 percent, we had 8 winning weeks with a total of 15.09 percent. Not very impressive results compared to other traders who hit 20 percent per week, but the main point is that we are very comfortable with our risk tolerance and our method. Our method has worked for many years now and we are very happy with the results we produce every quarter and every year.
  • #236
  • Apr 5, 2013 11:10am Apr 5, 2013 11:10am
Weekly Update


Very slow week for us, we took three trades, 2 were losers and 1 is doing ok. We took long eurusd from 1.2830, but we were stopped out for half the initial risk, he then tried to position ourselves before the news and took another long at the same price because we were convinced that eurusd was going to bounce off 1.2800 handle, but again were stopped out for a full loss.

We are short Audchf from 0.9880, 1st and 2nd targets has been reached and we have moved stop loss order on last position to lock in 100 pips.
Trade breakdown….Trade 1, was long eurusd stopped out for -90 pips , trade 2, long eurusd again at same level stopped out for a full loss -180 pips , trade 3 was short Audchf +300 pips

Eurusd

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After

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Audchf

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After

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  • #237
  • Apr 16, 2013 3:33am Apr 16, 2013 3:33am
Last week was very slow for us, we didn't have a trade until Friday, we took three trades on friday and they have reached 2nd targets. We have locked in some profits and we are now waiting for the final target to get hit or to be stopped out.

1. We took a short Audchf from 0.9780, 1st and 2nd target was reached yesterday at 80 pips and 160 pips respectively....stop loss on last order has been moved to lock in 80 pips...worst result on this trade is 320 pips

2. We bought Gbpaud from 1.4610, 1st and 2nd target was reached yesterday at 100 pips and 200 pips respectively.....stop loss on last order has been moved to lock in 100 pips...worst result on this trade is 400 pips

3. We bought Euraud from 1.2440, 1st and 2nd target was reached yesterday at 80 pips and 160 pips respectively.....stop loss on last order has been moved to lock in 80 pips...worst result on this trade is 320 pips.

Weeks Total = 780 pips

Pending Profits = 260 pips

Audchf

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After

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Gbpaud

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After

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Euraud

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After

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  • #238
  • Apr 16, 2013 3:59am Apr 16, 2013 3:59am
Audchf Trade


We have been watching Audchf and expected a drop from 0.9900 handle, we took our first short from 0.9880, we managed to get 1st and 2nd target but we were stopped out when we locked in profits. But we were still convinced that the pair was going to drop, we joined in on the retracement and that's the current trade we have open....shows that we had a plan and we followed through with the plan and took advantage of the idea. It doesn't work all the time, but works more often than not. When it fails to work, we cut our losses quick and when it works we let our profits run, we always make sure that we live to trade another day.
If its that simple, WHY do many people fail?... because they always try to outsmart the market by complicating things. Trading is simple but not EASY!!!!!!...its the hardest way to make an easy living!!!

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  • #239
  • Apr 19, 2013 3:14am Apr 19, 2013 3:14am
This is the only trade we took this week and its a loss...we took a short from 127.90 and our first target was missed by a few pips before the pair pushed back up again, since the target was missed, we had to reduce our exposure, so we were only stopped out for the half th initial risk....loss on trade was -270 pips. We are still holding three trades with locked in profits...short Audchf, long gbpaud and Euraud.

Weeks Total = +510 pips

Pending Profit = +260 pips

Eurjpy

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After

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  • #240
  • Apr 20, 2013 10:12am Apr 20, 2013 10:12am
When we started providing signals, we were not sure what type of traders will follow our signals. But we have some very good members who dont bother us, they usually get on with their trading. Some of our clients are very successful traders and subscribed to our signals to diversify…we also have some members who are trading very huge funds.

We provide signals, but we also help our clients with money management and trading psychology, we send them articles on these topics to help them with their own trading.

We will be increasing prices starting from the 1st of May….but this wont affect the existing members and any members who join before the 1st of May
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