Pure Price Action Trading

Nice to see you here again. I see you use a full zoom-out on H1 now which I get used to. Since I started trading stocks my forex trading went down.

February was better than January, managed to catch a couple good trades, reached some targets and some are still running, charts as shown below, hope the explanation can help some people to read price action the way I do.

Eurcad Short

Before



After

Euraud short

Before



After

Audjpy

Before



After

Ok Joe you have shown us all the winners, WHERE ARE THE LOSSES....my first loss this year was the short audusd I took on 19 February...yes my first loss. I am getting better and better everyday.

MENTORSHIP/EDUCATION PROVIDERS


I am frustrated with a lot of scammers selling mentorship programmes/signals when they haven't even made a penny from trading themselves. The reason why I have decided to post this is because I have had several emails from people complaining that they have spent thousands of dollars following these so called mentors. I think in the trading industry there are more mentors/education providers than traders. Some people struggle to save ,money and someone just comes takes it away with false promises of tutoring them to success.Lets set this right so that new traders or struggling traders stop buying useless courses online or following scammers. When looking for a mentor, follow the rules below

1. Ask for trading statements (for at least 5 years, real brokers accounts not spreadsheets), if they cant provide that or come with excuses, run with your money. I don't see any reason why they cant show you their success...coz you are paying them a lot of money, they should show proof that they trade successfully.
2. Not all good traders are good mentors, its difficult to tell, but shop around for ones with good reputation.
3. Have a small interview with the mentor to find out if the strategy will suit you, a mentor helps to discover who you are as a trader.
4. Some mentors know that when they mention trading for a fund or working on wall street they will attract a huge number of students. Ask for proof, anyone can make a story. If they were successful on wall street or hedge fund why are they still selling courses for $100, that doesn't add up.
5. Gone are the days when you are shown some yachts and trading on the beach and you buy it, ask yourself if that is real and if it is maybe it is funded by selling course not trading. Still goes back to asking for proof of trading.

After saying all this, I am not saying that all mentors are scammers, that will be wrong, because they are some good and genuine mentors out there, but they are difficult to find. When you buy a car or a house you take your time and you shop around to make sure you have the best deal. Do the same when looking for a mentor, you are paying them thousands of dollars, so you are allowed to find out if they trade for a living, don't listen to the bullshit of wanting to give back to the community. Charging someone $5000 for mentorship is not giving back to the community...That's called reaping off the community !!!!!
Drop me in your comments, lets discuss what you think and tell us if you have been scammed or had a good mentor

just posted last week about scammers, look at this thread

http://www.forexfactory.com/showthread.php?t=584527

Joe, I put on hold forex and stick to Livermore method. I found reading ticker tape very interesting and I operate on numbers only without chart. Finally I see Market Maker's hand. Trading stocks cost more and on lower leverage. Fantastic experience.

If you still remember this challenge, its still going and I have proved that you can grow a small account without risking a lot. Power of trend following.

Impressive results, thank you for sharing with the community.

doing ok in choppy markets, just using robust risk management, discipline.

Hello Joe.

How are you doing now?
After a year of learning about Livermore's system I am going to conclusion that I am really close to understanding whole point of his trading technique. There are things that he didn't explain so I am finding them out by analizing.
Not seeing a chart implement another sence of feeling the stock price action. It's like a blind person with much better hearing.

I wonder why you stopped putting your trades here?

Bro sup? Looks like your account went to sh*t eventually or did you withdraw all your funds?

This seems like a very great way of analyzing the markets

Lets get those charts going

More charts

Hope everyone is well and healthy, Covid had made me realise that the most important thing in life is health. We have lost loved ones during the pandemic.
Some members here have been sending me messages to find out if i was still trading, yes I am still trading and every year that goes past, I gain more experience, my chart reading skills have improved over the years and I can read a chart effortlessly. Now lets post away, charts will do all the talking.

If you have any charts you want me to look at and analyse let me know. Will post what I will be looking at this week.