Price Action

[trade4life]

It's a tough call. I know how you feel. That's why it's best not to look at the chart after you have executed the trade. I know there have been times in the past when I kept a really close eye on a trade and when it started to go in the opposite direction, I would get scared and close it out before my stop loss was actually. I would look back at the chart later only to see that my SL was never hit and the trade eventually went where I anticipated. Of course I just wanted to kick myself but it taught me a valuable trading lesson.

"Set and forget"

[DickP]

PRICE ACTION ... AHH

[yogibear]

PRICE ACTION ... AHH

Yeah, price action eh??

[jjj2011]

price action constantly runs in cycles. It replicates itself over and over again.

http://www.easy-forex.com/gtw/208215.aspx

[Harrison]

price action constantly runs in cycles. It replicates itself over and over again.

http://www.easy-forex.com/gtw/208215.aspx

how so? d

[trade4life]

price action constantly runs in cycles. It replicates itself over and over again.

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I think what he means is that it is repetitive. We see the same setups repeating themselves again and again in the market, so if you know what to look for you can design a high-probability trading method on raw price action. Here are some examples of price action strategies.

[yogibear]

First trade of the year looks like its gonna be a loser.
I took this off the 15 min chart- stop loss is beyond the previous swing.
I've got a 40 pip s/l on it.

This is why i dont trade lower t-f usually. They are just too whippy for me.
Going to stick to the daily.

[yogibear]

trade update-
The eur/usd has turned, and is in positive pips.
Closed half for +55 pips, stop to b/e.

[yogibear]

Also had an order trigger on s+p, which looks like it will be a loser.
Interestingly, after doing some analysis over the new year, this chart was my most unprofitable, with eur/cad being my most profitable pair.
makes sense to stop trading this chart, as i'm obviously not good at reading it.

[trade4life]

Also had an order trigger on s+p, which looks like it will be a loser.
Interestingly, after doing some analysis over the new year, this chart was my most unprofitable, with eur/cad being my most profitable pair.
makes sense to stop trading this chart, as i'm obviously not good at reading it.

Are you still trading for the prop firm??

[yogibear]

Are you still trading for the prop firm??

No, i never did. my Sharpe Ratio wasn't good enough for their criteria, although how in the hell you would ever meet that, i've no idea.

[DickP]

Die prys optrede is 'n goeie strategie om te volg!

[FXScannerDarkly]

I am learning this strategy now and looking out for pin bars and inside bars.

[pipMasterG]

all I see is you talking about what has happened but no opinion on how to use that in your trade idea (short or long) maybe you explain it more for our benefit, those new to this thread

[yogibear]

I am learning this strategy now and looking out for pin bars and inside bars.

I'd stick with pinbars, and bullish/bearish engulfing if you're new to price action.
Inside bars can be tricky, although in a well defined trend they're useful for getting in with a smaller stoploss.
Don't personally trade them much myself.

[drpips]

Awesome discussion!

[drpips]

As with most things in Forex. this depends on understanding how an indicator works and how each trader's ability to apply this knowledge to interpret indicator movement to price action.

What does this mean to me? Again, it goes to the heart of the matter, what came first? The price action or the indicator that caused the price action.

Are you sure about that skipper?

[yogibear]

Couple of trades have triggered today.
Short usd/cad @1.0035, moved stop to b/e.

Lond aud/usd @ 1.0613, closed half +50, stop now at 1.0633.

Also had a long on gbp/usd trigger @ 1.5672, already stopped out at b/e.

[trade_hard]

Do you guys know of any indicators that point out these price action bars? That would someone new to this?

[yogibear]

Do you guys know of any indicators that point out these price action bars? That would someone new to this?

Just Google it, you'll find loads of them. I have no idea if they work, i've never used one.
In the long term, you'd be better off learning, say 6 price action signals, 3 bullish 3 bearish, then spending some time scrolling back through the charts to spot them.
Also, it's not really about just spotting the signal, it's more important to evaluate where on the chart the signal has occured.If you take every pinbar you see, you'll lose money.
Is it with the trend, are you about to trade into potential S/R, how much will you lose if the signal fails, which they do often, what timeframe is the signal on, etc.
Hope this helps