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priceaction1 journal

  • #1,161
  • Apr 10, 2015 3:49pm Apr 10, 2015 3:49pm
Cool thread, dude. Keep up the price action trading!

I'm a big fan of engulfing candles and pin bars. I'm a student tho, also with a small live account.

Gotta say though, with your pictures above, best feeling in the world is to enter a trade and then set your SL to BE + 1 and let it ride. With a high leverage, it's a great feeling! This week I earned 130% using just price action and setting SL to break even after a 10-15 pip gain.

But it can be scary!
I am NOT an expert. I post to learn from others.
  • #1,162
  • Apr 10, 2015 3:58pm Apr 10, 2015 3:58pm
Quoting Phantom-X
Cool thread, dude. Keep up the price action trading! I'm a big fan of engulfing candles and pin bars. I'm a student tho, also with a small live account. Gotta say though, with your pictures above, best feeling in the world is to enter a trade and then set your SL to BE + 1 and let it ride. With a high leverage, it's a great feeling! This week I earned 130% using just price action and setting SL to break even after a 10-15 pip gain. But it can be scary!
mine was 9000% not a lot of money but % wise it is. I wonder what was going on that time
don't predict direction, but dance with flow of water
  • #1,163
  • Apr 10, 2015 4:11pm Apr 10, 2015 4:11pm
Quoting Unabomber92
{quote} Well, that's true, I've been reading this thread a bit, I see you started with demo, and on some posts you say your % of good trades is higher than 95%, I guess now you are with a real account. Will you still trading with this 9000% account?
no most of my trades in this thread are showing my live account when I post demo I indicate clearly that it is demo otherwise all are live trades. my first post was live trade report!!!!
don't predict direction, but dance with flow of water
  • #1,164
  • Apr 10, 2015 4:17pm Apr 10, 2015 4:17pm
don't predict direction, but dance with flow of water.
don't predict direction, but dance with flow of water
  • #1,165
  • Apr 10, 2015 4:21pm Apr 10, 2015 4:21pm
it was 3300%



http://www.forexfactory.com/showthre...12#post7440112
don't predict direction, but dance with flow of water
  • #1,166
  • Apr 10, 2015 4:52pm Apr 10, 2015 4:52pm
Quoting priceaction1
don't predict direction, but dance with flow of water.
The markets have a rhythm it seems, esp. during NY open.

Today I noticed price was dipping down during open, so I sold for awhile.

Then price dipped up and got bullish, so I bought.

Made money on both ends!
I am NOT an expert. I post to learn from others.
  • #1,167
  • Apr 10, 2015 10:11pm Apr 10, 2015 10:11pm
Quoting priceaction1
{quote} mine was 9000% not a lot of money but % wise it is. I wonder what was going on that time
Excellent. What broker you use?

Edit: Nevermind I see it is Pepperstone. Are you US resident?
I am NOT an expert. I post to learn from others.
  • #1,168
  • Apr 11, 2015 12:07am Apr 11, 2015 12:07am
Quoting Phantom-X
{quote} Excellent. What broker you use? Edit: Nevermind I see it is Pepperstone. Are you US resident?
No, my broker for live account is XM. pepperstone is just for demo.
don't predict direction, but dance with flow of water
  • #1,169
  • Apr 11, 2015 4:22am Apr 11, 2015 4:22am
Quoting priceaction1
{quote} No, my broker for live account is XM. pepperstone is just for demo.
Why did you choose XM?

I see, well you are doing a really good job, how many time has passed since you started trading? When did you start to be profitable?
  • #1,170
  • Apr 11, 2015 6:41am Apr 11, 2015 6:41am
yes xm is best for me , no issue of any kind. it take 1 1/2 to 2 years to become profitable.
don't predict direction, but dance with flow of water
  • #1,171
  • Apr 11, 2015 8:23am Apr 11, 2015 8:23am
Quoting priceaction1
yes xm is best for me , no issue of any kind. it take 1 1/2 to 2 years to become profitable.

It looks like EUR/USD is going to make new low, when you analyze weekly chart, after small correction at the beginning of the week I think in two weeks it will reach 0.96. We will see Always trade with the current market flow.

priceaction1, don't you think spreads are too big at XM?
P.S. "she" or "he" in english is used only for people, price and anything else you can find in market terms is "it"
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  • #1,172
  • Apr 11, 2015 8:38am Apr 11, 2015 8:38am
Quoting insomniawawa
{quote} It looks like EUR/USD is going to make new low, when you analyze weekly chart, after small correction at the beginning of the week I think in two weeks it will reach 0.96. We will see Always trade with the current market flow. priceaction1, don't you think spreads are too big at XM? P.S. "she" or "he" in english is used only for people, price and anything else you can find in market terms is "it" {image}
but in forex we love to call it "she". it is more color full than simple "it".

I got 8$/lot cash back and 3$/lot trading bonus so spreads for me is only 8$/lot on eur/usd.
yes the trend is down 1.0400-1.0300 area is what I am looking for bounce.
don't predict direction, but dance with flow of water
  • #1,173
  • Apr 11, 2015 8:45am Apr 11, 2015 8:45am
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don't predict direction, but dance with flow of water
  • #1,174
  • Apr 11, 2015 8:56am Apr 11, 2015 8:56am
it is war!!!!! so we have to know how to fight
Attached File(s)
File Type: pdf the-art-of-war.pdf   139 KB | 722 downloads
don't predict direction, but dance with flow of water
  • #1,175
  • Apr 11, 2015 9:12am Apr 11, 2015 9:12am
https://charts.mql5.com/7/517/eurusd...g-point-of.png
don't predict direction, but dance with flow of water
  • #1,176
  • Apr 11, 2015 9:28am Apr 11, 2015 9:28am
https://charts.mql5.com/7/517/eurusd...g-point-of.png
don't predict direction, but dance with flow of water
  • #1,177
  • Apr 11, 2015 9:48am Apr 11, 2015 9:48am
Quoting priceaction1
{quote} but in forex we love to call it "she". it is more color full than simple "it". I got 8$/lot cash back and 3$/lot trading bonus so spreads for me is only 8$/lot on eur/usd. yes the trend is down 1.0400-1.0300 area is what I am looking for bounce.
hehe, I have 0,81 cash rebate at XM I have opened this account few months ago just to start in big tournament, but they told me that I can't do that with rebate, so I'm not using it.

However, you are doing good job here, I like your price action trading style and not offensive style of your all comments, nevertheless I prefer to use tight stop loss in every trade I make
  • #1,178
  • Apr 11, 2015 9:57am Apr 11, 2015 9:57am
opss it is 6.6$/lot trading bonus not 3$. so actual spread is 18-14.6= 3.4$/lot

 

  1. Elite level = 20 XMP per standard round turn lot
  2. 20/3 = 6.6.
  3. so after 1 lot trading I have 6.6S tradable bonus

don't predict direction, but dance with flow of water
  • #1,179
  • Apr 12, 2015 12:47am Apr 12, 2015 12:47am
EUR/USD Forecast: 1.0460 first, parity then (thanks to http://www.fxstreet.com/analysis/eur...2015/04/10/02/)

The American dollar staged a strong comeback this week, particularly against a weaker EUR, erasing most of the last 3-week gains of the common currency. In fact, the pair aims to close the week well below the 61.8% retracement of these latest weeks advance at 1.0688, a critical resistance level for the upcoming days.

The third time was not a charm in this case, as the pair faltered in the 1.1000/1.1050 area, before resuming its slide. The weekly chart shows that the technical indicators turned back south after correcting extreme oversold readings, whilst the moving averages remain way far above the current levels to be taken into account, albeit the 20 SMA maintains a sharp bearish tone. In the daily chart, the 20 SMA stands around the 38.2% retracement of the mentioned decline around 1.0830, whilst the technical indicators maintain a bearish tone below their mid-lines, all of which supports additional declines.

As long as the 1.0690 area contains the upside, the pair should be expected to maintain the bearish strength, with a break below 1.0550, exposing the pair to a retest of 1.0461, this year low. If the level gives up, the next bearish target comes at 1.0320, albeit market players will be eyeing parity as the next probable target.

Above 1.0700, on the other hand can favor additional gains up to the 1.0830 area, with this last expected to contain the upside next week.
don't predict direction, but dance with flow of water
  • #1,180
  • Apr 12, 2015 2:14am Apr 12, 2015 2:14am
key to success
1) trade with no fear
2) trade with no recklessness
3) trade with positive attitude
4) take responsibility for every winner or loser
5) limit your risk with proper money management (1% or 2% risk per trade)
6) pre-define risk / cut losses / take systematic profit
7) don't blame market for losses
8) losses / missing out on a trade / leaving money on table is part of trading
9) losses are cost of doing business
10) anything can happen - nothing is granted
11) think in probabilities
12) be rigid in trading rules & flexible in expectation
13) trading is all about odds / having an edge
14) always be prepared to take profit / loss and wait for the next edge
15) take whatever market is offering you
16) don’t be bias on one side - keep your mind open for both side of trading
17) trading is a business not a get rich quick scheme
18) there is random distribution between winners & losers
19) don't get upset after few losses - measure your success after 50 or 100 trades
don't predict direction, but dance with flow of water
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