fxfxfx

Hi 4xmeter, I agree to you ;) But I must also say that trading S/R levels at 5 min/1 min should be nearer at the price. And I also only can say that every timeframe is a universe of it self -> Because you will find traders in every time-frame -> Long Term traders will let lots of pips on the table -> But only in the sight of a short-term trader. In the sight of a long-term trader it is not lagging. I personally do not think that I am able to handle these small time-frames as it always leaded to me to make mistakes (which I saw then afterwards). Although I make lesser trades - I focus at the quality of the setup and also do not want to try every breakout or retrace. I personally must say to you: hats off to you (And I really mean this in a positive manner) as I was not able to handle these small time-frames successfully (I made too many mistakes because I was under too much pressure). Maybe when I am more trained or skilled at the lower timeframes for a longer time-period I will give them again a new try. Thx for this great contribution Cheers fxfxfx

Hi 4xmeter, Can you explain this to me as I am making money on a regular basis for a longer time-period by trading S/R and price-action on 4-hourly and above and I know also others who are doing this very successfully for years. So I would be interested in more detail why it does not makes sense to trade 15min above .... Cheers fxfxfx

Hi folks, I finally made it - I started the thread here: http://indo-investasi.com/showthread.php/13455-My-price-action-strategy Very empty at the moment - but I am sure that it will be filled quickly (At least I will do my best to do it). ca there fxfxfx

Oups - sorry mate. I am happy that this surely can not happen with my username ;-) So I have to take care when I open the new thread to not to be confused with you 2 guys .... Looking forward,... fxfxfx

Hi Freddie, ZigZag is good for s/r - lines and also to find possible Trendlines. But the homework is not over - you will see it in a few minutes why I wanted that users draw them manually ;-) But you are right: I also use the zig-zag from time to time.... Thx for your post, as I am sure that especially for newbies it is good to find the swings.... Cheers fxfxfx

Hi Freddie, All the efforts goes to soundfx - He made the how-to. Glad to see people here who are willing to contribute to others :-) But the most important thing is: Everyone of you knows how to draw swing-highs and swing-lows. OK - so let's keep the ball rollin' Will continue today ... Cheers Lorenzo

Hi soundfx, Thx for the post :-) So now let's wait for the charts of all the users coming in:-)) Cheers fxfxfx

Hi folks, A few words: I know that at the beginning probably everything sounds complicated and you say to yourself: I will never get it ! But be sure: When you do your homeworks CONSISTENTLY, you will be trained more and more and you will get a "feel" about how the market flows and ebbs. Do you remember when you visited the first time the driving school ? Did you remember your first lesson ? But after all you passed the test and in the meanwhile you are driving your car perfectly without thinking when you have to put your feet to the break or the drive coupling. Finally (now) you do this all automatically (Hope so ...). Of course this only applies to the people who have a drivers license ;-) I want to bring you to the stage/level where your brain does the analytics all automatically. Cheers fxfxfx

Hi soundfx, Thx for the post :-) You are right with your guess - I am trying to lead these traders into the way of price-action and market-flow/nature of market(s). But believe me: This is only a small part on the way to become a successful trader ! Still waiting for the screenshots of the user(s) Listen folks: One of the biggest problem(s) in trading is DOING. I have some friends who have really good ideas how to make a business - But they fail ! Why ? Because they only dream ! I told them: "Hey - make a business-plan! Put your ideas into paper... Make all the preparation-stuff... Make a project-plan" ... And so on and so on... And guess what ? They are still dreaming while other people rakes in money and they are doing the same ! My friends does not take this serious and do not treat it like a business. Although the way/style I am trading takes on weekdays in summary "only" 20 mins. or so ... But I take it serious and I do it consequently - Each and every day ! I am thinking about making the thread like a school (With homeworks, Q and A and so ) as I think that this is the only way people will learn the stuff - They need a "teacher"/"mentor" (although I do not want that people call me a mentor) that will show them how this works and to correct them if they did it wrong. Because one thing I learned hardly by myself: If you want to learn it, you also must do it ! I can explain you the color red (in terms of the frequency of the light-wave,....), but you will NEVER know what red is until you see a red thing (red ball, red chair). Usually it takes years to learn how to trade forex. The advantage when you have a teacher is: He can show you what works and what do NOT work and he will show you the relationships between all the stuff. Take this comparison: if you have a break, a motor, a wheel,.. -> With these stuff you can not do very much -> But when I teach you how to assemble these parts to build a car -> You got it ! Hope to see more screenshots ;-) Cheers fxfxfx

Forgot to say: If there is anything unclear or if you do not know what a swing is (before asking this, look at the screenshots...), please feel free to post your question(s) here. I will try my best to answer your question(s). Cheers fxfxfx

Hi Crips, Yes of course :-) If you have done your homework - then show it to us. As I said: The only reason behind this is to know how many knowledge the different traders has and that I know to which I have to focus more or less. Cheers fxfxfx

Hi Freddie, Good to see that you know how to draw S/R :-) The idea behind this is to see who has which level of knowledge -> So: OK -> You know what we are talking about... c ya in the new thread. Cheers fxfxfx

Hi folks, I have a little homework for you before I start with the new thread. Find here a chart of todays GBPUSD 4 hourly-(naked)chart: http://img849.imageshack.us/img849/7900/usdjpy240.gif Then draw swing high and swing lows (peaks and valleys) from the last 2 BIG moves (up-move followed by down-move or vice versa): http://img543.imageshack.us/img543/797/usdjpyswings240.gif And finally draw horizontal trendlines starting from the swing-point to the right like here: http://img193.imageshack.us/img193/2857/usdjpytrendlines240.gif And do not worry about right or wrong - It does not matter. Please do not use a gbpusd 4 hourly chart (As I did it already) You can use every tradeable stuff (big stocks, indices, comodities, currencies) 4-hourly and longer... Look how the price reacted to these line(s) and post your pics and comments. Cheers fxfxfx

Hi grooter, If there are more people interested, I will start a thread. If not I will do a person to person training via skype,PM or so... We have holiday here in austria this week - so therefore my time this week will be limited as I will spend time with my family ;-) But maybe I wait until sunday and see the outcome of demand (who is also interested) ;-) But please - do not be dis-appointed when you see how I trade, because probably there is nothing new and I am sure you have read the most about these techniques ;-) Cheers fxfxfx

I jacknie, Yes, I have a strategy which gives me a good amount of money consistently. If you want to learn my strategy - then let me know if you are interested. The major problem is this: Not every Trading-Method is suited for every kind of trader. It is like on any other business - One fails and the other is successful - Even if they do the exact same business ! I do not use indicators or EA's the way the majority uses them. I use an indicator which shows me the actual and last candlestick-pattern and the current market-info (PIP-Value, Spread) I use an expert-advisor which opens the trade for me - I just must tell the EA the entry-price, Stop-Loss and Take-Profit. Why do I let an EA do this job for me ? Easy: To avoid mistakes. The EA also prevents me to overtrade ! But the logic in means of entry, sl,tp comes from: My brain. I do not say that Indicators will not work or so - but I do not know anybody personally who make CONSISTENT money from indicator's or EA's Think about what is the basis of every indicator ? You got it: PRICE ! Why do so many people trade only the distorted reflection of price and not price itself ? What drives the market ? I will reveal it to you: BIG MONEY ORDERS. When 1000s of big orders are sitting at a specific price-level, the price MUST react. This means that the majority of traders must think that price will react at this level. Do you think that they have one magic indicator in common - NO. No wonder: Which indicator with which setting,... You got it: 10000 parameters - There could nothing be in common ! But what makes these people think that price will react at this level ? Their EYES and their PSYCHOLOGY ! What Time-Frame ? I personally use 4-hourly and daily, occasionally 1-hourly. Why ? Because the lower time-frames tends to contain lot of noise. The other reason why I use the bigger time-frames: They tend to be more successful (at least for me *g*) and as I am not a full-time trader (maybe soon), it can be traded even when you have a full-time job and it is not that stressful. I must say that trading less is ofter better than trading more (Quality instead of Quantity). It also saves you from "overtrading". Which pairs ? I mainly trade the majors, but Price-Action can be applied to nearly EVERY tradeable stuff. Trading has to be treated like a business ! You must have a trading-plan, you must analyze your trades, you must have a trading-plan which automatically corrects itself,... - You have to take this serious ! Also lots of people seeks for the holy-grail and jumps from one system to an other and do not realize: There is no holy grail ! You really must accept this and only then you will start to make consistent money. A very famous man said: You do not need to win every battle - You need to win the war (I think it was Sun Tsu or Sunzi,...). The name of the book is "The Art of war" and will be teached in lots of military-academies and also in many universities where they teach the elite of business -> But Sunzi got really the point: At the end of the month your winning-trades must overcome the losing ones. And: You can compare Forex-Trading also with war ;-) Search this site for: "naked trading" or "price action" - I am sure you will find many useful things. The problem is that you must find a way how to use them - I really trade BASICS, but when you do the BASICS the correct way, it will produce profit. Cheers fxfxfx One final note: There exist no "THE" system - there exist various system(s) which works - Choose one which suits your lifestyle... Of course evaluate if the system is able to produce consistent profits.... Second final note ;-) Most of the EAs works (at least at the beginning). Do you know why: Because they are curve-fitted ! When the market-condition changes they start to fail. Rice was traded hundred years ago with pure price-action. The words indicators or EAs were at this time unknown words ;-) These techniques all have withstood the test of time and were traded long ago and people still trade it.