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Price action trading - Trade like the pros!

  • #601
  • Mar 21, 2017 11:33am Mar 21, 2017 11:33am
Quoting WDays
Have to keep this in mind. It is mirrored on USDx. {image}
Well...
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  • #602
  • Apr 5, 2017 9:47am Apr 5, 2017 9:47am
Hey Alex
I just wanted to say thank you very much for this thread, I've been studying Forex for a while now and nothing has made as much sense as this (I'm also studying Volume stuff to go with this supply + demand stuff)
Anyone that's serious about trading really should stick with this stuff as it's a real gold mine!

Result since last March (Since I started implementing this stuff into my trading)
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  • #603
  • Apr 7, 2017 5:08am Apr 7, 2017 5:08am
Quoting E7i
Hey Alex I just wanted to say thank you very much for this thread, I've been studying Forex for a while now and nothing has made as much sense as this (I'm also studying Volume stuff to go with this supply + demand stuff) Anyone that's serious about trading really should stick with this stuff as it's a real gold mine! Result since last March (Since I started implementing this stuff into my trading) {image}
Very well done, man! Keep at it, and let me know if I can clear anything up.
  • #604
  • Apr 7, 2017 5:09am Apr 7, 2017 5:09am
Dollar snapshot.
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  • #605
  • Apr 7, 2017 5:11am Apr 7, 2017 5:11am
EU in turn... Letting price slip through demand area and reaching for next level ahead.
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  • #606
  • Apr 7, 2017 5:12am Apr 7, 2017 5:12am
GU - no overreaction to Brexit / Article 50 triggered.
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  • #607
  • Apr 7, 2017 5:15am Apr 7, 2017 5:15am
$/CAD looking like it can take a few bearish days.

While $/JPY is inert.
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  • #608
  • Apr 7, 2017 6:21am Apr 7, 2017 6:21am
"Price action trading - Trade like the pros!" - that is greatest mystification! Give me the "order book", give me the possibility of moving price where I need - and then and only then I will trade "like the pros". Price action and other stuffs are for loosers, which money always are eaten by "pro". I'm so sorry for I've destroyed your dream to "trade like a pro"...
  • #609
  • Apr 7, 2017 9:02am Apr 7, 2017 9:02am
Quoting Rammstein73
"Price action trading - Trade like the pros!" - that is greatest mystification! Give me the "order book", give me the possibility of moving price where I need - and then and only then I will trade "like the pros". Price action and other stuffs are for loosers, which money always are eaten by "pro". I'm so sorry for I've destroyed your dream to "trade like a pro"...
You sound bitter Don't kick it til you've tried it.

Also, Rammstein is one of my favorite bands.
  • #610
  • Apr 7, 2017 9:13am Apr 7, 2017 9:13am
Quoting Rammstein73
"Price action trading - Trade like the pros!" - that is greatest mystification! Give me the "order book", give me the possibility of moving price where I need - and then and only then I will trade "like the pros". Price action and other stuffs are for loosers, which money always are eaten by "pro". I'm so sorry for I've destroyed your dream to "trade like a pro"...
LMAO spoken like a true Forex loser ... salty as hell.
Until you learn that you can never have as much resources and knowledge as the institutions and that your only hope is riding their coat tails by reading price at key levels, only then can you make anything out of this cut throat market ...
  • #611
  • Apr 7, 2017 9:13am Apr 7, 2017 9:13am
Quoting Rammstein73
"Price action trading - Trade like the pros!" - that is greatest mystification! Give me the "order book", give me the possibility of moving price where I need - and then and only then I will trade "like the pros". Price action and other stuffs are for loosers, which money always are eaten by "pro". I'm so sorry for I've destroyed your dream to "trade like a pro"...
i´ve always felt that the greatest losers are those people who spell losers with double o .
Wish you a great time here .
TWEE, revoke my membership.
  • #612
  • Apr 17, 2017 8:22am Apr 17, 2017 8:22am
Just a few conclusions I've reached in my day... Let's see if you people agree or disagree
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  • #613
  • Apr 17, 2017 8:48am Apr 17, 2017 8:48am
Quoting WDays
Just a few conclusions I've reached in my day... Let's see if you people agree or disagree {image}

strongly agree man. The bit about letting winners turn into losers and managing equity strongly resonates with me. I can boldly say that is the only thing i am currently struggling with at the moment. I watch trades that have gone into "unclaimed" compounded profits of about 500pips turn around and return the profits to the market just because i was too greedy to close the trade at a certain resistance or support level, in hopes that price would break that level and continue in profits.

This one problem has caused me so much in profits.. i seem to never want to get out "too early" because it would irk me to see that i would have made much more profits if i had just remained in the trade..

still looking for a remedy to this offspring of greed. i may just have to start targeting a certain risk to reward ratio and closing out trades once i achieve it regardless of if i feel price may continue moving in my favour.

no ..... no .... i think i should never cut my winners short, but always let them run ...

phew...

the problem i'm faced with
  • #614
  • Apr 17, 2017 8:55am Apr 17, 2017 8:55am
Quoting Koop
{quote} strongly agree man. The bit about letting winners turn into losers and managing equity strongly resonates with me. I can boldly say that is the only thing i am currently struggling with at the moment. I watch trades that have gone into "unclaimed" compounded profits of about 500pips turn around and return the profits to the market just because i was too greedy to close the trade at a certain resistance or support level, in hopes that price would break that level and continue in profits. This one problem has caused me so much in profits.....
I feel your pain, I used to constantly let winners slip into loser territory, but then I started doing the exact opposite. I started cutting winners short and watching them run for dozens and sometimes hundreds of pips.

For me, I think, this issue gets resolved with practice. If you spend enough time observing charts and trends, you'll eventually start getting that inner gut feel harbinger of a dying trend or potentially missed profits. Then again, it depends very much so on what type of trading you're doing. If you're intraday and wish to close during the day (and I personally think it's the only way to trade Forex because of swaps and commissions ripping you off big time with most retail brokers), you needn't be worried that price will overshoot your daily target... Just have to be realistic about what can happen during the day. It's also very important to keep an eye on various calendar events.
  • #615
  • Apr 17, 2017 11:00am Apr 17, 2017 11:00am
Quoting WDays
{quote} I feel your pain, I used to constantly let winners slip into loser territory, but then I started doing the exact opposite. I started cutting winners short and watching them run for dozens and sometimes hundreds of pips. For me, I think, this issue gets resolved with practice. If you spend enough time observing charts and trends, you'll eventually start getting that inner gut feel harbinger of a dying trend or potentially missed profits. Then again, it depends very much so on what type of trading you're doing. If you're intraday and wish...
you nailed it just at the end of your comment. i probably wouldn't have this problem if i traded intra-day. However, i tend to prefer holding trades for a longer period of time in order to milk the market for all i can get. will definitely do something about this way of thinking soon.

Thanks.
  • #616
  • Apr 21, 2017 7:43am Apr 21, 2017 7:43am
This looks shortlived...
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  • #617
  • Apr 23, 2017 5:08pm Apr 23, 2017 5:08pm
Quoting WDays
Just a few conclusions I've reached in my day... Let's see if you people agree or disagree {image}
Sounds like a good summary of "Trading in the zone - Mark Douglas "
  • #618
  • Apr 24, 2017 12:58am Apr 24, 2017 12:58am
Quoting E7i
{quote} Sounds like a good summary of "Trading in the zone - Mark Douglas "
In the end, all of our experiences in the markets end up the same
  • #619
  • Apr 24, 2017 1:54am Apr 24, 2017 1:54am
See this is where it gets interesting. I've been keeping an eye on fundamentals because of my stock trading, but I still rely generally on technicals to trade forex.

Markets are real good at predicting large political outcomes. Investors are smarter than the average Joe, and they will price in what the most probable scenario is. After some years of practice, you can actually tell who's winning an election or if a deal can be made on a high level, just by looking at your charts.

The French election were weighing in on markets, I'm sure you all knew, for the last few weeks. The break down is such:

Lepen & Melenchon are euro-sceptics. Had one of them won, markets would have felt threaten due to a possible explosion of the EZ, with France being the second largest economy in the union.

Fillon & Macron, on the other hand, would not have made such a move.

Bottom line is: Lepen vs. Melenchon in the second round of the presidential elections - absolutely horrendous for stocks (european and US alike), euro crashes and burns.

Lepen vs. Fillon or Macron (as it happened here), is a relief for markets and investors. Mainly because nobody expects Lepen to win.

Macron holds the immigrant vote, and is also supported by pro-EU citizens and entities.

Markets knew all that long before anybody started saying it, as can be seen by the huge rally in euro stocks and the gap higher in euro pairs.
  • #620
  • Apr 24, 2017 2:57pm Apr 24, 2017 2:57pm
Anyone trading the GAP ?? I just shorted the EURO
Price is King
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