fxfxfx

Hi folks,
 
Hi izogrey,
 
Yes - Izogrey - you are totally right ;)
 
I really shared ALL the stuff that is needed in this thread.
What I finally wanted to do is to write probably a summary - But I really have rare time at the moment (due to many reasons) and soon I also want to go to vaccation and then I also do not know how good the internet-connection will be ;-)
 
But all I can say to you all is:
practice, practice, practice - and the willingness to learn AND doing.
 
Maybe here a very very very small summary:
 
Preparation:
Draw SwingHigh/SwingLow,
Draw S/R-Lines and update them on a daily basis or so...
Attach the alerter
Wait for a candlestick-pattern.
Check if the candlestick-pattern occurs at a re-trace
Check if daily and 4-hourly is aligned
Check if candlestick-pattern occurs at a S/R-Line and ONLY trade in the direction of the trend.
Always go for a Risk/Reward of 1:2
 
Trade-Management:
If setup occurs in a ranging market:
 
If candlestick-pattern is a pin-bar and has the right direction (the wick shows to the opposite direction than the trend) split your order in 2:
1st order: Enter at 50% of the the PIN-BAR and the 2nd order at the HIGH or LOW of the PIN-BAR -> SL: At the HIGH or LOW of the PIN-BAR, Target 2x your risk
 
If candlestick-pattern is an inside-bar make an order with the entry: HIGH or LOW of the outside-bar (but only in the direction of the trend). SL: 50% of the outside-bar, TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If candlestick-pattern is a fake-breakout make an order with the entry: HIGH or LOW of the false breakout-bar (but only if the false breakout was to the opposite of the trend). TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If the candlestick-pattern occurs at a change of trend and went outside the boundaries of a sideways market and then retraces back (If there was sideways market).
Entry for the setup remains the same (except for PIN-Candle: Entry: HIGH or LOW of the PIN-BAR) and also the SL for the setup remains the same, but leave the TP open and trail the SL:
 
Example:
 
After a setup occurs at a change of trend and you opened your position and you see on the way UP or DOWN a PIN-BAR, move the SL to the HIGH or LOW of the PIN-BAR and if you see on your way an INSIDE-BAR, move the SL to the HIGH or LOW of the OUTSIDE-BAR and if you see on the way a FAKE-BREAKOUT in the right direction, move the SL to the HIGH or LOW of the FAKE-BREAKOUT-BAR. TP will be reached when you get stopped out ;)
 
There are also other components to consider - but the system itself is COMPLETELY outlayed now guys and should be enough to be profitable.
 
Maybe when I have a little bit more time again, I can post some "tips" - But these tips do not change the system mentioned here (although it is not a system - it is more a collection of tools as some setups maybe need a little bit more discretionary).
 
But the MOST IMPORTANT thing is to EXCERCISE them.
 
Cheers to all
 
fxfxfx
 

Little tip: horizontal trendlines
 
Hi folks,
 
as far as I can see some people do not know how to make the trendlines 100% horizontal
 
Make a double-click at the trendline that there will be 3 small squares -> so now they are selected. Then right-click at the trendline -> A context-menu will appear -> Choose "Trendline Properties" -> Switch to the "Parameters"-tab -> Copy the content of the 1st field "Value" to the 2nd field "Value" and finally click the "OK"-Button.
Now they should be 100% horizontal ;)
 
Cheers
 
fxfxfx

Hi folks,
 
Hi izogrey,
 
Yes - Izogrey - you are totally right ;)
 
I really shared ALL the stuff that is needed in this thread.
What I finally wanted to do is to write probably a summary - But I really have rare time at the moment (due to many reasons) and soon I also want to go to vaccation and then I also do not know how good the internet-connection will be ;-)
 
But all I can say to you all is:
practice, practice, practice - and the willingness to learn AND doing.
 
Maybe here a very very very small summary:
 
Preparation:
Draw SwingHigh/SwingLow,
Draw S/R-Lines and update them on a daily basis or so...
Attach the alerter
Wait for a candlestick-pattern.
Check if the candlestick-pattern occurs at a re-trace
Check if daily and 4-hourly is aligned
Check if candlestick-pattern occurs at a S/R-Line and ONLY trade in the direction of the trend.
Always go for a Risk/Reward of 1:2
 
Trade-Management:
If setup occurs in a ranging market:
 
If candlestick-pattern is a pin-bar and has the right direction (the wick shows to the opposite direction than the trend) split your order in 2:
1st order: Enter at 50% of the the PIN-BAR and the 2nd order at the HIGH or LOW of the PIN-BAR -> SL: At the HIGH or LOW of the PIN-BAR, Target 2x your risk
 
If candlestick-pattern is an inside-bar make an order with the entry: HIGH or LOW of the outside-bar (but only in the direction of the trend). SL: 50% of the outside-bar, TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If candlestick-pattern is a fake-breakout make an order with the entry: HIGH or LOW of the false breakout-bar (but only if the false breakout was to the opposite of the trend). TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If the candlestick-pattern occurs at a change of trend and went outside the boundaries of a sideways market and then retraces back (If there was sideways market).
Entry for the setup remains the same (except for PIN-Candle: Entry: HIGH or LOW of the PIN-BAR) and also the SL for the setup remains the same, but leave the TP open and trail the SL:
 
Example:
 
After a setup occurs at a change of trend and you opened your position and you see on the way UP or DOWN a PIN-BAR, move the SL to the HIGH or LOW of the PIN-BAR and if you see on your way an INSIDE-BAR, move the SL to the HIGH or LOW of the OUTSIDE-BAR and if you see on the way a FAKE-BREAKOUT in the right direction, move the SL to the HIGH or LOW of the FAKE-BREAKOUT-BAR. TP will be reached when you get stopped out ;)
 
There are also other components to consider - but the system itself is COMPLETELY outlayed now guys and should be enough to be profitable.
 
Maybe when I have a little bit more time again, I can post some "tips" - But these tips do not change the system mentioned here (although it is not a system - it is more a collection of tools as some setups maybe need a little bit more discretionary).
 
But the MOST IMPORTANT thing is to EXCERCISE them.
 
Cheers to all
 
fxfxfx
 

What drives the market ?
 
The market is driven by: PSYCHOLOGY of the masses !
Uff ? Now maybe you expected something more spectacular ;-) ?
 
Yes - folks! Your price-chart is nothing more and nothing less than the reflection of the psychology of the masses !
 
When the majority of the masses thinks that price goes up (positive news events, positive rumours, special price-formations..) price WILL go up.
When the majority of the masses thinks that price goes down (negative news events, negative rumours, special price-formations..) price WILL go down.
 
This is a FACT !
 
And I mean with the majority not the amount of people - I mean the amount of people multiplied with their capital (We small "hobby"-traders only have small impact to price).
 
This also means:
When thousands of BIG BUY-orders are sitting at a specific price-level, price WILL go UP !
When thousands of BIG SELL-orders are sitting at a specific price-level, price WILL go DOWN !
 
But this also means: There must be a something in "common" what makes these people think that price will go up or down.
Do you really think that this could be an indicator or an EA ?
Did you know that there exists THOUSANDS of indicators with literally and endless amount of parameters.
CCI (1), CCI(99), MA(5), MA(99988), MACD(444), MACD(39488),.... ?
 
Do you get the idea behind my question ?
They could never have one common thing that they (all these indicators in summary) say: BUY now ! This is impossible as even ONE indicator could have an endless amount of parameters !
 
Why do you think that your brokers offers you so many indicators ;-)
 
What is the feed for every indicator ?
You got it: PRICE !
Why do you trade only the reflection of price (this is what an indicator is) ?
 
Do not get me wrong - I will not say that indicators or EAs does not work ... But i do not know anybody PERSONALLY who makes CONSISTENT money over a LONG TIME-PERIOD !
Most (if not all) EAs or indicators are curve-fitted. This means that they work for a certain period of time but when market-condition changes -> They start to fail (Is there an A-HA effect and/or did you also know this situation probably?) !
 
I also must say that so many people are seeking for the holy-grail: Wake up, people: This holy grail does not exist, because if it exists we ALL would have a problem ! Our financial system will collapse ! There MUST be a certain amount of risk ;-)
Only if you accept this and trade in a logical way with common-sense you will succeed !
You also must accept that you MUST take trading serious ! Treat it like a business (because in fact it is a business).
Also accept that this trading-method probably will NOT work for you (I am not an ego and say that this strategy is the best and that this will work for you - as I can NOT guarantee this).
Even when 2 people are doing the EXACT same business it will happen that 1 will succeed and 1 will fail !
 
This strategy is in fact not "my" strategy - This concept exists for a VERY long time and is nothing new to most traders.
 
You probably would say: But when I do not need any indicator - Why are there so many ?
I will clarify this for you:
Long time ago the japanese people traded rice successfully only with price-action. At a certain point of time the PCs became so cheap that everybody was able to buy one -> And then: Why only trade with this BOOORING price-action-stuff when we have computers which can do soo much more than a human brain. These days were the start of the indicators. Why did the people use it ? Because it is "unsexy" to not use them !
 
Listen: Rice was traded at times where Expert-Advisor and Indicators were unknown words ;-) successfully for AGES - and still people trade it successfully !
 
Although Trendlines, Fibonacci and S/R - lines are basically also indicators ;-) I personally do not count them as indicators....

Well, this is what I have:
 
http://[email protected]/zip/_fOwddea/indPA.html
 
Please give thanks to Diesel10 and fxfxfx ... It's their work ... :)
 
Good luck!

Hi folks,
 
Due to the demand/requests of some traders that are struggling around, I decided to share how I trade on a regular basis.
Here is the thread I am referring to:
http://indo-investasi.com/showthread.php/6052-How-are-you-making-money
 
As I am not a professional e-book writer which sells e-books on an every-day-basis nor I am a professional teacher - I decided to make this thread this way.
 
I will update THIS post on a regular basis and will add chapters when we finished one.
I also update the chapters on a regular basis.
 
I will do this on this way because I saw on many forum very good threads, but they have 1000s of pages and you will get LOST.
Example: J16-Thread on FF, nobrainertrades on FF,...
So - Always use this post as a reference and have a look at this post in a regular basis.
 
As I do not want to bore any super-skilled trader I will state here in 1 sentence how my system works:
 
I trade PIN-BARS, Inside-Bars, Fake-Breakouts and 2-Bar PIN-Bar candlestick-pattern when they occur at a support/resistance-line in the direction of the trend. If there are additional price-action-confluences like Trendline, Fibonacci-Retracement, Fibonacci-Cluster -> The setup becomes more valid.
 
1.) What will move the market ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156626&viewfull=1#post156626
 
2.) How does the market move ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156638&viewfull=1#post156638
2.1) EXCERCISES
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156864&viewfull=1#post156864
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156869&viewfull=1#post156869
3) Support/Resistance with Fibonacci-confluence
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=157305&viewfull=1#post157305
 
Cheers
 
fxfxfx

How does the market move ?
 
How does the market move ?
 
The market moves in 3 directions:
 
1.) BULLISH (price makes Higher Highs and Higher Lows)
 
2) BEARISH (price makes Lower Highs and Lower Lows)
 
3) SIDEWAYS (price makes equal Highs and equal Lows)
 
Will update these 3 directions with pictures....
 
1) BULLISH:
Price makes Higher Highs and Higher Lows:
An impulsive swing is followed by a retracement-move which DO NOT retrace (close) below the start of the last impulsive move
The majority is very confident that Price will go UP.
http://img810.imageshack.us/img810/7933/uptrend.gif
 
2) BEARISH:
Price makes Lower Highs and Lower Lows:
An impulsive swing is followed by a retracement-move which DO NOT retrace (close) above the start of the last impulsive move.
The majority is very confident that Price will go DOWN.
http://img853.imageshack.us/img853/5593/downtrend.gif
 
3) SIDEWAYS:
Price makes Equal Highs and Equal Lows:
Price makes a swing upwards/downwards followed by a swing in the opposite direction which close (or high/low) is near the beginning of the first initial move and then again retraces to the other side of the "channel". -> Will update this with a picture
The majority is unsure of how price will move and therefore trade from one side of the channel to the other side of the channel (little bit self-fulfilling *g*) until there comes clarity (news-event or price moves sharply outside the channel and also closes outside the channel).
http://img842.imageshack.us/img842/3800/sideways.gif

Small gift for you
 
Hi folks,
 
I have a small gift for you to download:
 
http://www.4shared.com/file/I0U1cMIw/PATradeHelper-0001.html
 
It should eliminate nearly all guesswork and should give you the opportunity to take the trade with a high degree of certainty.
 
Hope you find this useful
 
Cheers
 
fxfxfx

OK folks,
 
I am @home and start to continue :-)
 
Please understand that during my work-time I am not willing to write any chapters as my focus is my work and my trading.
 
I started in the pre-thread a homework which I want that the users do this.
 
Here a copy-paste:
 
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
 
Find here a useful doc how to draw the trend-lines:
http://www.multiupload.com/HRZAV085S1
 
All the thanks goes to soundfx - The author of this doc :)
 
I already have the homeworks of:
crips, soundfx, harry007, grooter and izogrey -> It is up to you if you want to make another one ;)
 
For those who already made the homework comes the 2nd part:
 
When you "saved" your homework in a profile -> good !
If not -> Bad -> You have to draw them again ....

How does the market move ?
 
How does the market move ?
 
The market moves in 3 directions:
 
1.) BULLISH (price makes Higher Highs and Higher Lows)
 
2) BEARISH (price makes Lower Highs and Lower Lows)
 
3) SIDEWAYS (price makes equal Highs and equal Lows)
 
Will update these 3 directions with pictures....
 
1) BULLISH:
Price makes Higher Highs and Higher Lows:
An impulsive swing is followed by a retracement-move which DO NOT retrace (close) below the start of the last impulsive move
The majority is very confident that Price will go UP.
http://img810.imageshack.us/img810/7933/uptrend.gif
 
2) BEARISH:
Price makes Lower Highs and Lower Lows:
An impulsive swing is followed by a retracement-move which DO NOT retrace (close) above the start of the last impulsive move.
The majority is very confident that Price will go DOWN.
http://img853.imageshack.us/img853/5593/downtrend.gif
 
3) SIDEWAYS:
Price makes Equal Highs and Equal Lows:
Price makes a swing upwards/downwards followed by a swing in the opposite direction which close (or high/low) is near the beginning of the first initial move and then again retraces to the other side of the "channel". -> Will update this with a picture
The majority is unsure of how price will move and therefore trade from one side of the channel to the other side of the channel (little bit self-fulfilling *g*) until there comes clarity (news-event or price moves sharply outside the channel and also closes outside the channel).
http://img842.imageshack.us/img842/3800/sideways.gif

What drives the market ?
 
The market is driven by: PSYCHOLOGY of the masses !
Uff ? Now maybe you expected something more spectacular ;-) ?
 
Yes - folks! Your price-chart is nothing more and nothing less than the reflection of the psychology of the masses !
 
When the majority of the masses thinks that price goes up (positive news events, positive rumours, special price-formations..) price WILL go up.
When the majority of the masses thinks that price goes down (negative news events, negative rumours, special price-formations..) price WILL go down.
 
This is a FACT !
 
And I mean with the majority not the amount of people - I mean the amount of people multiplied with their capital (We small "hobby"-traders only have small impact to price).
 
This also means:
When thousands of BIG BUY-orders are sitting at a specific price-level, price WILL go UP !
When thousands of BIG SELL-orders are sitting at a specific price-level, price WILL go DOWN !
 
But this also means: There must be a something in "common" what makes these people think that price will go up or down.
Do you really think that this could be an indicator or an EA ?
Did you know that there exists THOUSANDS of indicators with literally and endless amount of parameters.
CCI (1), CCI(99), MA(5), MA(99988), MACD(444), MACD(39488),.... ?
 
Do you get the idea behind my question ?
They could never have one common thing that they (all these indicators in summary) say: BUY now ! This is impossible as even ONE indicator could have an endless amount of parameters !
 
Why do you think that your brokers offers you so many indicators ;-)
 
What is the feed for every indicator ?
You got it: PRICE !
Why do you trade only the reflection of price (this is what an indicator is) ?
 
Do not get me wrong - I will not say that indicators or EAs does not work ... But i do not know anybody PERSONALLY who makes CONSISTENT money over a LONG TIME-PERIOD !
Most (if not all) EAs or indicators are curve-fitted. This means that they work for a certain period of time but when market-condition changes -> They start to fail (Is there an A-HA effect and/or did you also know this situation probably?) !
 
I also must say that so many people are seeking for the holy-grail: Wake up, people: This holy grail does not exist, because if it exists we ALL would have a problem ! Our financial system will collapse ! There MUST be a certain amount of risk ;-)
Only if you accept this and trade in a logical way with common-sense you will succeed !
You also must accept that you MUST take trading serious ! Treat it like a business (because in fact it is a business).
Also accept that this trading-method probably will NOT work for you (I am not an ego and say that this strategy is the best and that this will work for you - as I can NOT guarantee this).
Even when 2 people are doing the EXACT same business it will happen that 1 will succeed and 1 will fail !
 
This strategy is in fact not "my" strategy - This concept exists for a VERY long time and is nothing new to most traders.
 
You probably would say: But when I do not need any indicator - Why are there so many ?
I will clarify this for you:
Long time ago the japanese people traded rice successfully only with price-action. At a certain point of time the PCs became so cheap that everybody was able to buy one -> And then: Why only trade with this BOOORING price-action-stuff when we have computers which can do soo much more than a human brain. These days were the start of the indicators. Why did the people use it ? Because it is "unsexy" to not use them !
 
Listen: Rice was traded at times where Expert-Advisor and Indicators were unknown words ;-) successfully for AGES - and still people trade it successfully !
 
Although Trendlines, Fibonacci and S/R - lines are basically also indicators ;-) I personally do not count them as indicators....

Hi folks,
 
Due to the demand/requests of some traders that are struggling around, I decided to share how I trade on a regular basis.
Here is the thread I am referring to:
http://indo-investasi.com/showthread.php/6052-How-are-you-making-money
 
As I am not a professional e-book writer which sells e-books on an every-day-basis nor I am a professional teacher - I decided to make this thread this way.
 
I will update THIS post on a regular basis and will add chapters when we finished one.
I also update the chapters on a regular basis.
 
I will do this on this way because I saw on many forum very good threads, but they have 1000s of pages and you will get LOST.
Example: J16-Thread on FF, nobrainertrades on FF,...
So - Always use this post as a reference and have a look at this post in a regular basis.
 
As I do not want to bore any super-skilled trader I will state here in 1 sentence how my system works:
 
I trade PIN-BARS, Inside-Bars, Fake-Breakouts and 2-Bar PIN-Bar candlestick-pattern when they occur at a support/resistance-line in the direction of the trend. If there are additional price-action-confluences like Trendline, Fibonacci-Retracement, Fibonacci-Cluster -> The setup becomes more valid.
 
1.) What will move the market ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156626&viewfull=1#post156626
 
2.) How does the market move ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156638&viewfull=1#post156638
2.1) EXCERCISES
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156864&viewfull=1#post156864
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156869&viewfull=1#post156869
3) Support/Resistance with Fibonacci-confluence
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=157305&viewfull=1#post157305
 
Cheers
 
fxfxfx

Great Post... keep in on guys. Thank you

Great post... I should read it all :O)

Hi folks,
 
Due to the demand/requests of some traders that are struggling around, I decided to share how I trade on a regular basis.
Here is the thread I am referring to:
http://indo-investasi.com/showthread.php/6052-How-are-you-making-money
 
As I am not a professional e-book writer which sells e-books on an every-day-basis nor I am a professional teacher - I decided to make this thread this way.
 
I will update THIS post on a regular basis and will add chapters when we finished one.
I also update the chapters on a regular basis.
 
I will do this on this way because I saw on many forum very good threads, but they have 1000s of pages and you will get LOST.
Example: J16-Thread on FF, nobrainertrades on FF,...
So - Always use this post as a reference and have a look at this post in a regular basis.
 
As I do not want to bore any super-skilled trader I will state here in 1 sentence how my system works:
 
I trade PIN-BARS, Inside-Bars, Fake-Breakouts and 2-Bar PIN-Bar candlestick-pattern when they occur at a support/resistance-line in the direction of the trend. If there are additional price-action-confluences like Trendline, Fibonacci-Retracement, Fibonacci-Cluster -> The setup becomes more valid.
 
1.) What will move the market ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156626&viewfull=1#post156626
 
2.) How does the market move ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156638&viewfull=1#post156638
2.1) EXCERCISES
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156864&viewfull=1#post156864
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156869&viewfull=1#post156869
3) Support/Resistance with Fibonacci-confluence
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=157305&viewfull=1#post157305
 
Cheers
 
fxfxfx

Small gift for you
 
Hi folks,
 
I have a small gift for you to download:
 
http://www.4shared.com/file/I0U1cMIw/PATradeHelper-0001.html
 
It should eliminate nearly all guesswork and should give you the opportunity to take the trade with a high degree of certainty.
 
Hope you find this useful
 
Cheers
 
fxfxfx

Hi folks,
 
Hi izogrey,
 
Yes - Izogrey - you are totally right ;)
 
I really shared ALL the stuff that is needed in this thread.
What I finally wanted to do is to write probably a summary - But I really have rare time at the moment (due to many reasons) and soon I also want to go to vaccation and then I also do not know how good the internet-connection will be ;-)
 
But all I can say to you all is:
practice, practice, practice - and the willingness to learn AND doing.
 
Maybe here a very very very small summary:
 
Preparation:
Draw SwingHigh/SwingLow,
Draw S/R-Lines and update them on a daily basis or so...
Attach the alerter
Wait for a candlestick-pattern.
Check if the candlestick-pattern occurs at a re-trace
Check if daily and 4-hourly is aligned
Check if candlestick-pattern occurs at a S/R-Line and ONLY trade in the direction of the trend.
Always go for a Risk/Reward of 1:2
 
Trade-Management:
If setup occurs in a ranging market:
 
If candlestick-pattern is a pin-bar and has the right direction (the wick shows to the opposite direction than the trend) split your order in 2:
1st order: Enter at 50% of the the PIN-BAR and the 2nd order at the HIGH or LOW of the PIN-BAR -> SL: At the HIGH or LOW of the PIN-BAR, Target 2x your risk
 
If candlestick-pattern is an inside-bar make an order with the entry: HIGH or LOW of the outside-bar (but only in the direction of the trend). SL: 50% of the outside-bar, TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If candlestick-pattern is a fake-breakout make an order with the entry: HIGH or LOW of the false breakout-bar (but only if the false breakout was to the opposite of the trend). TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If the candlestick-pattern occurs at a change of trend and went outside the boundaries of a sideways market and then retraces back (If there was sideways market).
Entry for the setup remains the same (except for PIN-Candle: Entry: HIGH or LOW of the PIN-BAR) and also the SL for the setup remains the same, but leave the TP open and trail the SL:
 
Example:
 
After a setup occurs at a change of trend and you opened your position and you see on the way UP or DOWN a PIN-BAR, move the SL to the HIGH or LOW of the PIN-BAR and if you see on your way an INSIDE-BAR, move the SL to the HIGH or LOW of the OUTSIDE-BAR and if you see on the way a FAKE-BREAKOUT in the right direction, move the SL to the HIGH or LOW of the FAKE-BREAKOUT-BAR. TP will be reached when you get stopped out ;)
 
There are also other components to consider - but the system itself is COMPLETELY outlayed now guys and should be enough to be profitable.
 
Maybe when I have a little bit more time again, I can post some "tips" - But these tips do not change the system mentioned here (although it is not a system - it is more a collection of tools as some setups maybe need a little bit more discretionary).
 
But the MOST IMPORTANT thing is to EXCERCISE them.
 
Cheers to all
 
fxfxfx
 

What drives the market ?
 
The market is driven by: PSYCHOLOGY of the masses !
Uff ? Now maybe you expected something more spectacular ;-) ?
 
Yes - folks! Your price-chart is nothing more and nothing less than the reflection of the psychology of the masses !
 
When the majority of the masses thinks that price goes up (positive news events, positive rumours, special price-formations..) price WILL go up.
When the majority of the masses thinks that price goes down (negative news events, negative rumours, special price-formations..) price WILL go down.
 
This is a FACT !
 
And I mean with the majority not the amount of people - I mean the amount of people multiplied with their capital (We small "hobby"-traders only have small impact to price).
 
This also means:
When thousands of BIG BUY-orders are sitting at a specific price-level, price WILL go UP !
When thousands of BIG SELL-orders are sitting at a specific price-level, price WILL go DOWN !
 
But this also means: There must be a something in "common" what makes these people think that price will go up or down.
Do you really think that this could be an indicator or an EA ?
Did you know that there exists THOUSANDS of indicators with literally and endless amount of parameters.
CCI (1), CCI(99), MA(5), MA(99988), MACD(444), MACD(39488),.... ?
 
Do you get the idea behind my question ?
They could never have one common thing that they (all these indicators in summary) say: BUY now ! This is impossible as even ONE indicator could have an endless amount of parameters !
 
Why do you think that your brokers offers you so many indicators ;-)
 
What is the feed for every indicator ?
You got it: PRICE !
Why do you trade only the reflection of price (this is what an indicator is) ?
 
Do not get me wrong - I will not say that indicators or EAs does not work ... But i do not know anybody PERSONALLY who makes CONSISTENT money over a LONG TIME-PERIOD !
Most (if not all) EAs or indicators are curve-fitted. This means that they work for a certain period of time but when market-condition changes -> They start to fail (Is there an A-HA effect and/or did you also know this situation probably?) !
 
I also must say that so many people are seeking for the holy-grail: Wake up, people: This holy grail does not exist, because if it exists we ALL would have a problem ! Our financial system will collapse ! There MUST be a certain amount of risk ;-)
Only if you accept this and trade in a logical way with common-sense you will succeed !
You also must accept that you MUST take trading serious ! Treat it like a business (because in fact it is a business).
Also accept that this trading-method probably will NOT work for you (I am not an ego and say that this strategy is the best and that this will work for you - as I can NOT guarantee this).
Even when 2 people are doing the EXACT same business it will happen that 1 will succeed and 1 will fail !
 
This strategy is in fact not "my" strategy - This concept exists for a VERY long time and is nothing new to most traders.
 
You probably would say: But when I do not need any indicator - Why are there so many ?
I will clarify this for you:
Long time ago the japanese people traded rice successfully only with price-action. At a certain point of time the PCs became so cheap that everybody was able to buy one -> And then: Why only trade with this BOOORING price-action-stuff when we have computers which can do soo much more than a human brain. These days were the start of the indicators. Why did the people use it ? Because it is "unsexy" to not use them !
 
Listen: Rice was traded at times where Expert-Advisor and Indicators were unknown words ;-) successfully for AGES - and still people trade it successfully !
 
Although Trendlines, Fibonacci and S/R - lines are basically also indicators ;-) I personally do not count them as indicators....

What drives the market ?
 
The market is driven by: PSYCHOLOGY of the masses !
Uff ? Now maybe you expected something more spectacular ;-) ?
 
Yes - folks! Your price-chart is nothing more and nothing less than the reflection of the psychology of the masses !
 
When the majority of the masses thinks that price goes up (positive news events, positive rumours, special price-formations..) price WILL go up.
When the majority of the masses thinks that price goes down (negative news events, negative rumours, special price-formations..) price WILL go down.
 
This is a FACT !
 
And I mean with the majority not the amount of people - I mean the amount of people multiplied with their capital (We small "hobby"-traders only have small impact to price).
 
This also means:
When thousands of BIG BUY-orders are sitting at a specific price-level, price WILL go UP !
When thousands of BIG SELL-orders are sitting at a specific price-level, price WILL go DOWN !
 
But this also means: There must be a something in "common" what makes these people think that price will go up or down.
Do you really think that this could be an indicator or an EA ?
Did you know that there exists THOUSANDS of indicators with literally and endless amount of parameters.
CCI (1), CCI(99), MA(5), MA(99988), MACD(444), MACD(39488),.... ?
 
Do you get the idea behind my question ?
They could never have one common thing that they (all these indicators in summary) say: BUY now ! This is impossible as even ONE indicator could have an endless amount of parameters !
 
Why do you think that your brokers offers you so many indicators ;-)
 
What is the feed for every indicator ?
You got it: PRICE !
Why do you trade only the reflection of price (this is what an indicator is) ?
 
Do not get me wrong - I will not say that indicators or EAs does not work ... But i do not know anybody PERSONALLY who makes CONSISTENT money over a LONG TIME-PERIOD !
Most (if not all) EAs or indicators are curve-fitted. This means that they work for a certain period of time but when market-condition changes -> They start to fail (Is there an A-HA effect and/or did you also know this situation probably?) !
 
I also must say that so many people are seeking for the holy-grail: Wake up, people: This holy grail does not exist, because if it exists we ALL would have a problem ! Our financial system will collapse ! There MUST be a certain amount of risk ;-)
Only if you accept this and trade in a logical way with common-sense you will succeed !
You also must accept that you MUST take trading serious ! Treat it like a business (because in fact it is a business).
Also accept that this trading-method probably will NOT work for you (I am not an ego and say that this strategy is the best and that this will work for you - as I can NOT guarantee this).
Even when 2 people are doing the EXACT same business it will happen that 1 will succeed and 1 will fail !
 
This strategy is in fact not "my" strategy - This concept exists for a VERY long time and is nothing new to most traders.
 
You probably would say: But when I do not need any indicator - Why are there so many ?
I will clarify this for you:
Long time ago the japanese people traded rice successfully only with price-action. At a certain point of time the PCs became so cheap that everybody was able to buy one -> And then: Why only trade with this BOOORING price-action-stuff when we have computers which can do soo much more than a human brain. These days were the start of the indicators. Why did the people use it ? Because it is "unsexy" to not use them !
 
Listen: Rice was traded at times where Expert-Advisor and Indicators were unknown words ;-) successfully for AGES - and still people trade it successfully !
 
Although Trendlines, Fibonacci and S/R - lines are basically also indicators ;-) I personally do not count them as indicators....

Hi folks,
 
Due to the demand/requests of some traders that are struggling around, I decided to share how I trade on a regular basis.
Here is the thread I am referring to:
http://indo-investasi.com/showthread.php/6052-How-are-you-making-money
 
As I am not a professional e-book writer which sells e-books on an every-day-basis nor I am a professional teacher - I decided to make this thread this way.
 
I will update THIS post on a regular basis and will add chapters when we finished one.
I also update the chapters on a regular basis.
 
I will do this on this way because I saw on many forum very good threads, but they have 1000s of pages and you will get LOST.
Example: J16-Thread on FF, nobrainertrades on FF,...
So - Always use this post as a reference and have a look at this post in a regular basis.
 
As I do not want to bore any super-skilled trader I will state here in 1 sentence how my system works:
 
I trade PIN-BARS, Inside-Bars, Fake-Breakouts and 2-Bar PIN-Bar candlestick-pattern when they occur at a support/resistance-line in the direction of the trend. If there are additional price-action-confluences like Trendline, Fibonacci-Retracement, Fibonacci-Cluster -> The setup becomes more valid.
 
1.) What will move the market ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156626&viewfull=1#post156626
 
2.) How does the market move ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156638&viewfull=1#post156638
2.1) EXCERCISES
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156864&viewfull=1#post156864
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156869&viewfull=1#post156869
3) Support/Resistance with Fibonacci-confluence
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=157305&viewfull=1#post157305
 
Cheers
 
fxfxfx

Hi folks,
 
Due to the demand/requests of some traders that are struggling around, I decided to share how I trade on a regular basis.
Here is the thread I am referring to:
http://indo-investasi.com/showthread.php/6052-How-are-you-making-money
 
As I am not a professional e-book writer which sells e-books on an every-day-basis nor I am a professional teacher - I decided to make this thread this way.
 
I will update THIS post on a regular basis and will add chapters when we finished one.
I also update the chapters on a regular basis.
 
I will do this on this way because I saw on many forum very good threads, but they have 1000s of pages and you will get LOST.
Example: J16-Thread on FF, nobrainertrades on FF,...
So - Always use this post as a reference and have a look at this post in a regular basis.
 
As I do not want to bore any super-skilled trader I will state here in 1 sentence how my system works:
 
I trade PIN-BARS, Inside-Bars, Fake-Breakouts and 2-Bar PIN-Bar candlestick-pattern when they occur at a support/resistance-line in the direction of the trend. If there are additional price-action-confluences like Trendline, Fibonacci-Retracement, Fibonacci-Cluster -> The setup becomes more valid.
 
1.) What will move the market ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156626&viewfull=1#post156626
 
2.) How does the market move ?
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156638&viewfull=1#post156638
2.1) EXCERCISES
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156864&viewfull=1#post156864
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=156869&viewfull=1#post156869
3) Support/Resistance with Fibonacci-confluence
http://indo-investasi.com/showthread.php/13455-My-price-action-strategy?p=157305&viewfull=1#post157305
 
Cheers
 
fxfxfx

Hi alright,
 
Thx for the work ! What can I say, except: Wow !
 
Thx for your time and contribution !
 
As a kind of "Thank you" I will publish here the Link for the PA-Alerter (Although I stated that I will wait for 2 additional homeworks - but I am in a good mood now).
 
http://www.4shared.com/get/WP3mbNTM/PriceActionAlerter-0005.html
 
This will hopefully save you lot of time and you must not stare all the time to the screen ;)
 
I will prepare also a summary from my side - it should act like a check-list for all the users.
 
Cheers
 
fxfxfx
 

Hi folks,
 
Hi izogrey,
 
Yes - Izogrey - you are totally right ;)
 
I really shared ALL the stuff that is needed in this thread.
What I finally wanted to do is to write probably a summary - But I really have rare time at the moment (due to many reasons) and soon I also want to go to vaccation and then I also do not know how good the internet-connection will be ;-)
 
But all I can say to you all is:
practice, practice, practice - and the willingness to learn AND doing.
 
Maybe here a very very very small summary:
 
Preparation:
Draw SwingHigh/SwingLow,
Draw S/R-Lines and update them on a daily basis or so...
Attach the alerter
Wait for a candlestick-pattern.
Check if the candlestick-pattern occurs at a re-trace
Check if daily and 4-hourly is aligned
Check if candlestick-pattern occurs at a S/R-Line and ONLY trade in the direction of the trend.
Always go for a Risk/Reward of 1:2
 
Trade-Management:
If setup occurs in a ranging market:
 
If candlestick-pattern is a pin-bar and has the right direction (the wick shows to the opposite direction than the trend) split your order in 2:
1st order: Enter at 50% of the the PIN-BAR and the 2nd order at the HIGH or LOW of the PIN-BAR -> SL: At the HIGH or LOW of the PIN-BAR, Target 2x your risk
 
If candlestick-pattern is an inside-bar make an order with the entry: HIGH or LOW of the outside-bar (but only in the direction of the trend). SL: 50% of the outside-bar, TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If candlestick-pattern is a fake-breakout make an order with the entry: HIGH or LOW of the false breakout-bar (but only if the false breakout was to the opposite of the trend). TP: 2x your risk (But only if the TP would NOT exceed the boundaries of the sideways channel).
 
If the candlestick-pattern occurs at a change of trend and went outside the boundaries of a sideways market and then retraces back (If there was sideways market).
Entry for the setup remains the same (except for PIN-Candle: Entry: HIGH or LOW of the PIN-BAR) and also the SL for the setup remains the same, but leave the TP open and trail the SL:
 
Example:
 
After a setup occurs at a change of trend and you opened your position and you see on the way UP or DOWN a PIN-BAR, move the SL to the HIGH or LOW of the PIN-BAR and if you see on your way an INSIDE-BAR, move the SL to the HIGH or LOW of the OUTSIDE-BAR and if you see on the way a FAKE-BREAKOUT in the right direction, move the SL to the HIGH or LOW of the FAKE-BREAKOUT-BAR. TP will be reached when you get stopped out ;)
 
There are also other components to consider - but the system itself is COMPLETELY outlayed now guys and should be enough to be profitable.
 
Maybe when I have a little bit more time again, I can post some "tips" - But these tips do not change the system mentioned here (although it is not a system - it is more a collection of tools as some setups maybe need a little bit more discretionary).
 
But the MOST IMPORTANT thing is to EXCERCISE them.
 
Cheers to all
 
fxfxfx
 

Hi alright,
 
Thx for the work ! What can I say, except: Wow !
 
Thx for your time and contribution !
 
As a kind of "Thank you" I will publish here the Link for the PA-Alerter (Although I stated that I will wait for 2 additional homeworks - but I am in a good mood now).
 
http://www.4shared.com/get/WP3mbNTM/PriceActionAlerter-0005.html
 
This will hopefully save you lot of time and you must not stare all the time to the screen ;)
 
I will prepare also a summary from my side - it should act like a check-list for all the users.
 
Cheers
 
fxfxfx
 

Small gift for you
 
Hi folks,
 
I have a small gift for you to download:
 
http://www.4shared.com/file/I0U1cMIw/PATradeHelper-0001.html
 
It should eliminate nearly all guesswork and should give you the opportunity to take the trade with a high degree of certainty.
 
Hope you find this useful
 
Cheers
 
fxfxfx