I wanted to get a thread together about trend trading and using price action reversal signals for entry and exits.
I have been trading about 4 years now and recently have re-discovered trading off of a pure naked price chart. I read Martin Pring's book on price patterns a couple years back and also have learned candlestick patterns from Steven Nisson and others a while back. Recently I have been learning about price action trading from Nial Fuller and it has taken on a new light, so to speak. He has a bunch (like 70) of good videos on YouTube and his website discussing powerful candlestick patterns (ones he thinks are the best) as well some very simple trading strategies I did not previously know about, check out learntotradethemarket.com for the videos. It also would probably do some good for you to read Martin Pring's material and/or Steve Nisson's material on price action trading, however, they do not offer a targeted method like Nial does, but more of a generalized trading technique.
In sort of an unrelated topic, does anyone have an EA that they could pm me or post on this thread to show the time left until the current bar closes? I have seen this advisor before but somehow lost it over time.
Thanks everyone, please hit this thread up to discuss any and all price action trading techniques you use. - cheers
Time To Bar End
Here's some code for Time To Bar End...
This should be better than an EA as you can put this code into your favorite EA or any indicator (saves chart for other EA).
The first one COUNTS DOWN.
The second one COUNTS UP - Regular Time.
Code For COUNTS DOWN:
//------------------------TIME - Counts DOWN
int secondsleft = Time+Period()*60-TimeCurrent();
Code and Display Comments for both:
"\n Time To Bar End - Counts DOWN ", // Uses above code
"\n Hours =" ,h," Minutes =",m ," Seconds =",s,
"\n Time To Bar End - Counts UP // Uses regular Time functions
"\n Hour() = ",Hour(),
"\n Minute() = " ,Minute() ,
"\n Seconds() = " , Seconds() ,
"\n TimeCurrent()= ", TimeToStr(TimeCurrent(),TIME_MINUTES ) ,
"\n " ,
Hope this helps and I look forward to more info on your adventures with price action trading techniques!
I think that's indicator you were looking for.
Profiting off plain vanilla price charts
After browsing this forum a bit and seeing all the confusion and overly complicated trading systems people are using, I have decided to create a thread on simple trading strategies. I have been using price action to trade the forex market with good success for about the past year. I have been unprofitable for the first 6 years of my trading career up until the last year. So I am making it a point to try and let other people know how I have found success so that they can stop the confusion and frustration of trading systems that simply don't work.
can you be more specific?
Where have you been?
From March to August.
I just came across your post as I also trade Naked chart. I've also become a big believer of Price action, however, honestly, Candle formations are not what I use. i can care less what the candle is.
Let me explain the misconception of candle formations before people start throwing Candle formation Books at me..
Candle is derived straight from pure price action. The candle is Only a small block or data and yes, the candle has value, it does tell you a few things. OHLC. however, the details inside the candle are what are important.
For example if you pick a 4 hr candle. the price action within that 4 hr candle has more value and more accuracy then just looking at the OHLC. Right? are you with me...
Dont get me wrong, people can trade candle patterns however, you will be concentrating on R/R and probability to turn a profit then anything else.
if you take the time to study raw price feed ( tick charts - NOT MT4- but a better platform- Or even use 1 min- you will start to see patterns behaving over and over again)
I still do not understand why so many fail to understand this concept and rely on candle formations on larger timeframes.. It is all pointless.
You must use a combination of timeframes to determine how price is moving. You can not sit there and stare at a 15min candle stick and OOH we got a doji, lets go short for the reversal... when in fact that doji is actually telling us.. momentum has slowed down and know we are sitting on Support... So lets look for a BOunce LONG.....
To gain some creditability for the rant above, visit zipsignals. User name Scalperfx-pipinvestment- naked chart.... Its all about Price and price patterns,, Not candle formations...
and yes , e=mcs^2, please explain what you are talking about in more detail so we can be on the same page.... there is another good forum on FF called price is everything......
yes,, price is everything
time until bar closes indy
I am newbie and became to fan of Price Action. There are very few thread about Price Action in forum. With price action trade, the biggest problem is drawing S/R, I think. Can anyone share the experiences of drawing S/R.
The other question is the different brokers have used different time zones for their chart, that caused different candle stick formation for the same price movement. How can we deal with it?
Dont use Candles from larger timeframes. Use price action patterns for s/r.
hmmm. I give away my edge....Well now you need to become confident, stay tuned and follow your trading plan.. Lots to overcome as a trader!
So where is Scalperfx-pipinvestment now, not on zipsignals....