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Thread: Price Action

      
  1. #161
    I am Part Pips sniper012's Avatar
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    Default Re: dear friends

    I just closed that trade out. That looks like it might be a strong support level and I didn't want to risk it. I took 28.5 pips. If it ever closes below 1.43044, I think it will have a better chance to shoot down some more.
    Quote Originally Posted by lktr0926 View Post
    Hey sniper,

    Can you throw up a chart of the trade setup you used on EURAUD? I don't generally trade this pair and am interested to see how you got short. thanks bro -

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  2. #162
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    Default Re: Price action.

    sniper,

    Nice, you are a great PA trader bro, I can tell. How do you go about managing you risk if you don't mind me asking??

  3. #163
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    Default Re: Price action.

    Well just to keep it simple, let's say that I have a $2,000 account. I will only risk 10% of that on a daily basis meaning that I will stop trading for the day if I lose $200 dollars. With that in mind, I try to make sure that my stop loss is in line with my 10% rule. If I have a 50 pip stop loss on a particular trade, then I know I can buy/sell 4 lots. If I have a 100 pip stop loss then I can only buy/sell 2 lots. Whatever I need to do to stay within my 10% threshold.
    When I trade pin bars, I always place my stop loss 10 pips beyond the high/low of the pin. With inside bars, I usually place my stop a few pips above/below the high/low of the mother bar. I hope that helps.
    Quote Originally Posted by lktr0926 View Post
    sniper,

    Nice, you are a great PA trader bro, I can tell. How do you go about managing you risk if you don't mind me asking??

    Pippin ain't easy, but it sho' is fun!

  4. #164
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    Default Re: Price action.

    On a never ending quest for Pin Bars and Inside Bars!!

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  5. #165
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    Default Re: Price action.

    Quote Originally Posted by sniper012 View Post
    Well just to keep it simple, let's say that I have a $2,000 account. I will only risk 10% of that on a daily basis meaning that I will stop trading for the day if I lose $200 dollars. With that in mind, I try to make sure that my stop loss is in line with my 10% rule. If I have a 50 pip stop loss on a particular trade, then I know I can buy/sell 4 lots. If I have a 100 pip stop loss then I can only buy/sell 2 lots. Whatever I need to do to stay within my 10% threshold.
    When I trade pin bars, I always place my stop loss 10 pips beyond the high/low of the pin. With inside bars, I usually place my stop a few pips above/below the high/low of the mother bar. I hope that helps.
    10% a day seems like a lot to lose for me! But if it's been workin for you than more power to ya!

  6. #166
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    Default Re: Price action.

    It's not likely that you're going to lose that much if you're taking the best price actions signals. I can't tell you the last time I lost that much. If 5% works for you then trade according to that. It may seem tedious but when you have hard and fast rules for managing your cash, the better off you'll be.
    Quote Originally Posted by lktr0926 View Post
    10% a day seems like a lot to lose for me! But if it's been workin for you than more power to ya!

    Pippin ain't easy, but it sho' is fun!

  7. #167
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    Default Re: Price action.

    good stuff, thanks guys

  8. #168
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    Default Re: Price action.

    More PA trading.URL=http://img820.imageshack.us/i/hybrid2.png/][/URL]

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  9. #169
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    Default Re: Price action.

    Sniper,

    Did you take the above trade? See anything good price action wise for this upcoming trading week? I think that GBPUSD could fall like a rock if it breaches 1.5500 again..

  10. #170
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    Default Re: Price action.

    Quote Originally Posted by lktr0926 View Post
    What do you need help with FXman? Price is action is pretty simple stuff, I can point you to some good links if you tell me what you don't get about price action.
    I for one would like to see you or someone do this in a video and point out where and when these things occur.

  11. #171
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    Default Price Action

    Hi this is my 1st post.
    Are they're any individuals here wanting to discuss trading using price action and candlesticks?
    I use support and resistance and a few things such as MA's and T/L.
    I've been researching and studying for about a year. I find that often i get a decent entry, but i exit too early.
    A perfect example is on E/CHF last week. I entered on the 3 black crows, exited for triple pips( about 100). Today it's sitting 300 pips lower than entry.
    I trade off the daily, with an eye on the weekly and monthly.
    I'd be interested in swapping anaylsis if anyone's interested. Obviously market conditions at the moment are tough, but come september when the big boys roll back into town, the mkts will hopefully give some decent opportunities.

    p.s i do not look at fundamentals.

  12. #172
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    Default Re: Price Action

    do youhave any image evidence of this method? Im all ears

  13. #173
    I Breathe Pips Jones's Avatar
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    Default Re: Price Action

    You don't look at fundamentals, meaning whats happening in news?
    Dislikes TopTrader disliked this post

  14. #174
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    Default Re: Price Action

    Hey Yogi Bear, welcome to the forum!

  15. #175
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    Default Re: Price Action

    Quote Originally Posted by Hank View Post
    do youhave any image evidence of this method? Im all ears
    Hi Hank
    When i try to attach a chart , it says that it is too large and gets rejected?? It's a standard MT4 chart.
    If anyone knows how to sort this problem out, let me know please.

  16. #176
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    Default Re: Price Action

    :
    Quote Originally Posted by Jones View Post
    You don't look at fundamentals, meaning whats happening in news?
    Hi, i mean that i don't let any thoughts i have about fundies, influence what i see on the chart. I'm probably not bright enough to be a fundamental trader

  17. #177
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    Default Re: Price Action

    Quote Originally Posted by Torvo View Post
    Hey Yogi Bear, welcome to the forum!
    hey Torvo, thanks for the welcome !

  18. #178
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    Default Re: Price Action

    Ok worked out how to attach a chart.
    Hank , here's the chart for eur/chf i mentioned. I entered at the yellow arrow. Entry was 10 pips below the low of the bar.

  19. #179
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    Default Re: Price action.

    Quote Originally Posted by aaffxx View Post
    I for one would like to see you or someone do this in a video and point out where and when these things occur.
    aaffxx,

    I do not really know how or want to make videos, you should check out some of Nial Fuller's videos though, they are all about price action, I learned to trade from his videos and course. Here is the link to his youtube page, check it out: Price action videos

  20. #180
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    Default Re: dear friends

    Quote Originally Posted by sniper012 View Post
    No problem. I couldn't pull up my FXCM chart so this is from MT4. It's a daily chart. The candle with the red rectangle is the mother bar. As you can see, the mother bar is followed by 3 inside bars. On the 4th day, I entered when that candle broke the low of the mother bar by 1 or 2 pips. The stop loss is the high of the mother bar. The low of the blue candle is the intended target. I may close it out before that because of the fact that it didn't close below that previous fractal today. But that is how I traded it and right now I'm up about 28 pips. Keep in mind that I've been in the trade for 2 days now.

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    sniper how are you doing ? If you wait for the inside bar to close below the mother bar and wait for the retracement to enter are you loseing alot of pips or ticks? And are you all in all out or do you have more than one target in a trade?