Price Action Help.

[livep9]

Hello new to this forum just signed up today. Ok i have been trading for the past 6 to 8 months on a practice acount with oanda which seems like a good legit broker dont know but it seems.I have seen all kinds of videos on price action trading on youtube and the internet just searching, i trade breakouts which are my favorite and inside bar which i really dont like but i trade it when i see it, dont know what i am doing wrong but i am upside down on my practice account if you know what i mean, i would like to know if someone in this forum can recommend a good website to learn price action trading and no nial fuller i have seen all his videos and have read everything on his website.Also if you know about a good ebook i would also like that information as well thank you.

[sniper012]

I have quite a few posts and threads on here about price action. This is something that you may or may not be doing, but this may help you out. Actually, there are two things that may help you out. The first; let's take eur/usd for example. Look at the monthly chart for that pair. Now draw a horizontal line where last month's candle closed. Make it blue or whatever color you want. Now switch to a weekly chart for that same pair and draw a different colored line on the prior week's close. Now you're pretty much ready to go. Say you're trading price action on a 4hr chart, if there is an inside bar that forms ABOVE both of those lines that you drew, which way should you be looking to trade? Long, of course. This just helps as a pretty good trade filter. Even if there is a bearish setup, if it forms above those lines, I would not suggest taking that trade because it is going against the long and longer term trends.
When you're trading inside bars, you have to be aware of where they form. I shouldn't just say inside bars, but price action in general. Color of the candles is also important. For example big green candle, followed by small red inside bar is going to be a bullish signal because the first candle (mother bar) is bullish. Green followed by small red or green followed by a green inside bar is more bullish than a big red followed by a small green or red. Hope that's not confusing. Look at the chart I attached. See how the pin bar forms on the .618 fib line? I don't know how much you know about Fibs, but the .618 line and the 1.618 lines are "the golden ratios", so when you see price action at these levels, it's a good indication that it's going to do something.


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[Arsinos]

Hi

WE are in this industry for the past 4 years , we have a auto robo for trading feel free to contact us for the demo , instaforexcbe@yahoo.com or you can contact me on skype also, instaforexcbe support, Our technicians would love to help you

Thanks and Regards
JAcob

[Bbarbara]

WHat about your website? Spanish version?

[Kenfinance]

I think it´s important to look at the bigger picture. Is your aim to learn how to trade and make profit on a consistent basis, or is it purely to move from one trading system to the next? If it´s the former, then you need to see trading as a business. Don´t get me wrong, you don´t have to be trading full time to have this view.

You stated that "inside bar which i really dont like but i trade it when i see it, dont know what i am doing wrong but i am upside down on my practice account if you know what i mean". First you need to:

A) Have a trading plan, which shows the exact detailed breakdown of your strategy.

B) Prior to every trade, tick off the trading setup to ensure that you are following your plan.

C) Manage the trade according to the risk management setup that you have (should be part of your trading plan).

D) Document the results on an evaluation sheet. Also, write down whether you were happy with the trade or any changes you would make.

Can you do the above for the next trade you enter and give me the full feedback, so we can move on to the next steps. Feel free to upload a screenshot of the charts, if you wish.

This is open to everything that´s having the same issue, please reply, so we can develop a case study.

To your success.

[Ronnie.Schaeffer]

I think it´s important to look at the bigger picture. Is your aim to learn how to trade and make profit on a consistent basis, or is it purely to move from one trading system to the next? If it´s the former, then you need to see trading as a business. Don´t get me wrong, you don´t have to be trading full time to have this view.

You stated that "inside bar which i really dont like but i trade it when i see it, dont know what i am doing wrong but i am upside down on my practice account if you know what i mean". First you need to:

A) Have a trading plan, which shows the exact detailed breakdown of your strategy.

B) Prior to every trade, tick off the trading setup to ensure that you are following your plan.

C) Manage the trade according to the risk management setup that you have (should be part of your trading plan).

D) Document the results on an evaluation sheet. Also, write down whether you were happy with the trade or any changes you would make.

Can you do the above for the next trade you enter and give me the full feedback, so we can move on to the next steps. Feel free to upload a screenshot of the charts, if you wish.

This is open to everything that´s having the same issue, please reply, so we can develop a case study.

To your success.

Do you have any videos I can follow brother? I love seeing someone explain this,maybe show an example or two.

[DanielFXTC]

Hi Livep9

If your trading account has been going down for some time now you cant keep doing what your doing and expect a different result so its a good thing that you made a post.

There would be a number of things you are probably doing wrong but lets just start from the beginning.

Everything you do starts from your philosophy and beliefs in trading and in life.

Your philosophies turn into thoughts, then your thoughts turn into actions, then your actions turn into your direction in life/destiny or a positive trading account and negative trading account.

So even with the right methods, if you have bad philosophies driving those methods you will still lose money. Such as bad philosphies on discipline, and patience.

For all i know maybe your methods are good you just dont have the patience to trade them exactly as you plan...

There are plenty methods to trade here
And philosphies to drive your methods here

Heres a great philosophy to base your trading actions from
http://www.forextradingcircle.com/tr...secret-weapon/

[forexbrokers00]

hi, i am new here two, and i just step in forex trading for weeks, so many questions that i have ,and today i saw this post, and i am wondering what is price action? please can anybody help with it? thanks a lot.

[tab]

hi, i am new here two, and i just step in forex trading for weeks, so many questions that i have ,and today i saw this post, and i am wondering what is price action? please can anybody help with it? thanks a lot.

I thought you weren't a beginner, you seem to have a lot of advice on other threads.

I feel a link to some bull**** coming soon....

[Luke_PipWalker]

This strategy seems profitable. Of course I would need earnings statements as proof of its effectiveness.

[Nero]

I have quite a few posts and threads on here about price action. This is something that you may or may not be doing, but this may help you out. Actually, there are two things that may help you out. The first; let's take eur/usd for example. Look at the monthly chart for that pair. Now draw a horizontal line where last month's candle closed. Make it blue or whatever color you want. Now switch to a weekly chart for that same pair and draw a different colored line on the prior week's close. Now you're pretty much ready to go. Say you're trading price action on a 4hr chart, if there is an inside bar that forms ABOVE both of those lines that you drew, which way should you be looking to trade? Long, of course. This just helps as a pretty good trade filter. Even if there is a bearish setup, if it forms above those lines, I would not suggest taking that trade because it is going against the long and longer term trends.
When you're trading inside bars, you have to be aware of where they form. I shouldn't just say inside bars, but price action in general. Color of the candles is also important. For example big green candle, followed by small red inside bar is going to be a bullish signal because the first candle (mother bar) is bullish. Green followed by small red or green followed by a green inside bar is more bullish than a big red followed by a small green or red. Hope that's not confusing. Look at the chart I attached. See how the pin bar forms on the .618 fib line? I don't know how much you know about Fibs, but the .618 line and the 1.618 lines are "the golden ratios", so when you see price action at these levels, it's a good indication that it's going to do something.


Uploaded with ImageShack.us

That helps me out a bit, thanks.