priceaction1 journal

euro down side monthly chart.

hourly if down side.

upside level

us index monthly

http://www.fxstreet.com/analysis/eur...2015/03/27/02/

http://www.forexfactory.com/showthre...00#post8164500

http://www.fxstreet.com/analysis/for...ws/2015/03/27/

http://www.actionforex.com/action-in...0150328237771/

http://www.fxstreet.com/news/forex-n...e-6141f1ec927b

http://www.forexcrunch.com/eurusd-fo...-mar-30-apr-3/

https://charts.mql5.com/7/403/eurusd...g-point-of.png

https://charts.mql5.com/7/404/eurusd...g-point-of.png

No worries.. we are all here to make more money...
On the subject of risk... I risk 10% on all system trades. Leverage is 100:1.. Use of compounding on the bank and investor account, dont want another blackswan event killing the broker... lol.. Not my work, but I have a much better understanding of the traders mind set and risk. If we ask any trader did he accept the risk of the trade he has taken 100% will say yes.. The fact is 95% most likely didnt, as they will now procrastinate worry and maybe even close off the position due to part loss's win etc.. It seems that if you did actually accept the risk 100% in the knowledge that no trade is guaranteed.. the edge you would have, will work its way in over the sample of trades taken within your system trade plan.. In practice winning trades and losing trades do not actually mean anything... We need to think a lot about this... so we really get it!
Simple answer is, if you feel fear/pain/worry during an open trade you have not excepted the risk!

On the PA, I use my daily s/r lines to look for various PA signals either thru continuation or rejection. Use these same S/R lines on the 4hr also.. I know we looked at that earlier. As an example even though I'm long EU, I was agreeing that a pull back on Thursday/Friday would be most likely, as we printed a bearish 2 bar reversal candle off a s/r area on the 4hr.. I would not of liked to take the entry from daily close bearish engulfing as we would be running right into minor s/r areas just below the daily.. I do prefer daily PA candles, but sometimes with good s/r zones the 4 hr can give some really nice signals. I use the fib not to take trades but to look for confluence to agree the trade, obviously we are all aware of the 50/61.8 areas swing high swing low set ups...

Let me know your thoughts..

nice to see you as far risk and responsibilities I prefer to go with this one http://www.stressfreetrading.com/7habits.pdf must read for every trader "Take complate responsibilities"
no use of indicator as a master trading tool. strong faith that price can move any time in any direction but she give some clues before any move so if you in sync with that move than go with it but keep risk in mind

We seem to be getting on much better now..lol. I will take a look over pdf, I'm sure its good stuff..direct to the point etc.. I agree the PA can move at any time... never taken a guaranteed outcome trade ever..I have mainly for the past 4 years traded primarily EU, as this has been all i needed to make good money.. Started around 2008/9 lost a few banks had some stress then, put the head down and did some real donkey work solid for about 10 months... past 4 years odd has been much easier, with the acceptance of risk etc..nice little edge and results... Lets look at multiple pairs for Pa to see what we are both doing if you don't mind? Approaching NFP I like to only enter non direct USD pairs in case we are in trade by time Friday arrives..Trading mainly daily candles with occasional look down to 4hr with S/R in play...

I start around 2012, main trading pair is eurusd. did lost some looking for holy grail use hundred of indicator, at last come to know that price is the only indicator that I need to trade. my trading base on FTI Teaching (Updated) (1).doc http://www.forexfactory.com/showthre...78#post7472078
NFP is used for killing leveraged accounts, as I use high leverage I try to stay away during that time.

Hi buddy,
read through some good stuff there. Many of the psychology boys preach the same idea's in many different formats..bit of plagiarism maybe lol.
I have taken on a very small live account some PA trades over the past month. The account was nearly at double and fell back due to some strange trading by me.. I have journal ed all trades so I'm fixing the problem as we go..

Hope this is ok, just about PA trades for discussion. All trades normally daily
I have open currently GBPNZD:

I have a engulfing candle off my main S/R zone, there was no real trend in the daily but there was on the weekly chart. I have taken at 19574 due to 10 pip spread long. I had my first target at 19790 which removed half my trade and I have let the second part run to 19980 area. I have attached my chart showing the original set up and weekly which today look a bit better.. The weekly today does look like a PB which looks to be following trend at recent turning point.. attached charts from last week.. let me know your thoughts.. ref the PA trade.

for me the very simple definition of the main trend is.
" you have rubber band snap backs in the direction of trend directions,and slow puffy moves counter trend." so I think you trade counter trend on daily. if this is first wave than second one will be more more juicy. I will use trailing stop in this condition.

euro area of interest

stop @BE

https://charts.mql5.com/7/437/eurusd...g-point-of.png