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Pharley Simple system - Get your levels right for trading S/R

  • #401
  • Jun 23, 2016 5:13am Jun 23, 2016 5:13am
Hi Pharley.
Thanks for your detailed explanation, and yes you are right about swapping and changing. Has it got me anywhere.? No it has'nt. one of my problems is I subscribed for around three years with a monthly subscription ( £2000 ) and this system used the 1 minute chart with line graphs. I am not saying the system did'nt work, it was simply that I was working when the markets were at their busiest.

I am half way through your other thread support and resistance which is also very informative.

Thanks again , and thanks for all the hard work that you do to keep this thread alive.

Regards
Kevin
  • #402
  • Jun 24, 2016 6:29pm Jun 24, 2016 6:29pm
Quoting kevin1959
Hi Pharley. Thanks for your detailed explanation, and yes you are right about swapping and changing. Has it got me anywhere.? No it has'nt. one of my problems is I subscribed for around three years with a monthly subscription ( 2000 ) and this system used the 1 minute chart with line graphs. I am not saying the system did'nt work, it was simply that I was working when the markets were at their busiest. I am half way through your other thread support and resistance which is also very informative. Thanks again , and thanks for all the hard work that...
Hi Kevin and thanks,

There's a great list on FF somewhere of the typical stages a trader goes through. I've read through it previously and it's pretty much spot on. At first (and for some, quite a while) it seems like 1 step forward, 2 backwards. But stick with it, find a decent method that's simple and easy to understand, learn it, trade it and stick with it. It's not just about the system itself either - it's one that fits in with your lifestyle and how much time you have.

For people who are working, it's really worthwhile trading the 4 hr and daily charts because of minimal checking during the day. For those who can sit at the charts for most of the day, it's worth trading the 4hr and daily - because they cancel out market noise a lot more. 1 hr charts - sure, but sometimes I find these too much to look at and revert back to higher timeframes.

Glad you're finding my other thread informative too. Let me know if you need anything.
CHeers
Pharley
  • #403
  • Jun 24, 2016 10:18pm Jun 24, 2016 10:18pm
I try to keep things like this in mind when I'm striving to get better at trading -
Attached Image
  • #404
  • Jun 24, 2016 11:26pm Jun 24, 2016 11:26pm
this is happened......
but after brexit result.. it came down with big candle......
but i afraid last friday expecting like this big red candle that's why closed ... but happened is on yesterday
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Success is a Journey Not a Destination....... kind regards ramzam
  • #405
  • Jun 25, 2016 2:51am Jun 25, 2016 2:51am
Thanks Pharley.

I have finished your support and resistance thread, it was well worth reading, for me anyway. Looking forward to moving on using your methods only.

Kind regards
Kevin
  • #406
  • Jun 25, 2016 2:54am Jun 25, 2016 2:54am
Quoting kevin1959
Thanks Pharley. I have finished your support and resistance thread, it was well worth reading, for me anyway. Looking forward to moving on using your methods only. Kind regards Kevin
HI Kevin,

It's great you've read through the other thread. It's just a way of getting in multiple trades in 1 direction, following the trend, using weekly timeframes to see the big picture etc.

If you can spot a good looking (potential) run coming up, plan how you're going to enter multiple times and stick with it. ENtries can be taken from a variety of things - pins, inside bars, break and retrace, breaks, etc.

Cheers
Pharley
  • #407
  • Jun 25, 2016 3:49am Jun 25, 2016 3:49am
Thanks Pharley.
I will let the dust settle a bit with the brexit news and have a go.
I'll try and post a chart or two of what I'm thinking if thats ok.
Regards
kev
  • #408
  • Jun 25, 2016 4:26am Jun 25, 2016 4:26am
Quoting kevin1959
Thanks Pharley. I will let the dust settle a bit with the brexit news and have a go. I'll try and post a chart or two of what I'm thinking if thats ok. Regards kev
Sure Kevin - post charts of anything that's caught your eye or some analysis if you like, no problem.

Cheers
Pharley
  • #409
  • Jun 26, 2016 8:26am Jun 26, 2016 8:26am
​My effort to draw S and R zones I hope I got them correct. Thanks for this simple and wonderful thread.
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  • #410
  • Jun 26, 2016 5:10pm Jun 26, 2016 5:10pm
Sold GBPJPY @ 137.624 based on weekly Resistance. Resistance is very strong, due to candle had to drive hard through it when it was Support.
  • #411
  • Jun 26, 2016 9:11pm Jun 26, 2016 9:11pm
Quoting earlroy63
​My effort to draw S and R zones I hope I got them correct. Thanks for this simple and wonderful thread.{image}
Hi earlroy - yes they look fine Things are still a bit up in the air for now, so be careful.

How is your G/J trade going? Looks like it went into some good profits.

Cheers
Pharley
  • #412
  • Jun 26, 2016 10:29pm Jun 26, 2016 10:29pm
​Hi Pharley,
Yes GJ Trade I got over 100 pips very quickly, thnx for your feedback on my levels.
  • #413
  • Jun 27, 2016 1:42am Jun 27, 2016 1:42am
Quoting earlroy63
​Hi Pharley, Yes GJ Trade I got over 100 pips very quickly, thnx for your feedback on my levels.
Excellent! Well done mate.
  • #414
  • Jun 28, 2016 8:19am Jun 28, 2016 8:19am
GBPUSD (M5) +32.2pips.






Happy trading,
Yomi.
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Time always comes before price
  • #415
  • Jun 30, 2016 3:02am Jun 30, 2016 3:02am
Hi all,

Been having some time away from trading for a few days - refresh the batteries etc.

Actually this weekend I'm off to see the folks on their farm - no internet, limited mobile etc etc. That'll test the trading patience!

Cheers
Pharley
  • #416
  • Jun 30, 2016 4:02am Jun 30, 2016 4:02am
Have a good weekend, I always enjoy getting away from the big smoke for a while.

I've been rereading your other thread recently too, giving me some good food for thought. Thanks very much for it.
  • #417
  • Jun 30, 2016 6:35am Jun 30, 2016 6:35am
Hi Charley.
Have a good weekend
Regards
Kevin
  • #418
  • Jun 30, 2016 6:37am Jun 30, 2016 6:37am
Bloody predictive text
Sorry Pharley
  • #419
  • Jun 30, 2016 7:04am Jun 30, 2016 7:04am
Spotted this one

+40 pips
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My help is in the name of the Lord who made heaven and earth.
  • #420
  • Jul 1, 2016 4:00am Jul 1, 2016 4:00am
great stuff
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