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Price action trading

Guest oilfxpro

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Guest oilfxpro

I recommend people not waste their money and time, until they have read the one star reviews on amazon.All these chart patterns are freely available on google , but rarely work on their own.




free google images of chart patterns click here


teacher through books click


He is a successful investor and trader with over thirty years of experience trading stocks.Forex trading has a lot of noise from banking transactions , these patterns become random.



Old adage applies here 




Phyllis (1977) "Those who can do. And those who can't...teach!"




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Guest oilfxpro

I am busty listening to Psychology by I G for  lulz  if anything.:smileylol:


more i g videos here 


Trading Boot Camp with IG (session #10 - Psychology of trading)



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Guest oilfxpro

I am still waiting for evidence, that these gurus make money from trading, the only evidence we see is they make about $ 80,000 a month from selling education.




I also see more gurus have appeared at trade city to make money from "teaching the blind".So we have more blind traders who can't make money, because they were following the blind.




If these people at trade city had a formula, they would be on their yachts, employing people to trade for them.They would be billionaires.


All I see is these gurus makes money from selling education and other services.


Where are the certified audited accounts to prove they don't lose money from this price action trading?


how to trade stocks.gif


This price action trading education is no different from the stock trading gurus.



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Guest Judge125


I'm new here but I found this post interesting because I am a price action trader. I am curious as to  why the negative comments about price action trading not working? my understanding is that all indicators, follow a mathematical formula based on price movements which is  essentially  price action. my personal view is also that these indicators can be misleading  due to the fact of different candle opening and closing times based on you brokers time zone, eg; if IG is gmt and FXPRO are gmt -2 I get different candles on both platforms and who is to say which is the better feed and that this discrepancy is not happening all around the world across a lot of providers. another point I am curious about is  to the fundamental vs technical analysis argument personally I see technical analysis as a receipt for actual previous transactions  = real data across all providers and not some data provided by a source with the possibility of little bit of rule bending to make company or  economy look a little better than they really are. Just to note I don't think price action trading is the same as pattern trading as in support and resistance, triangles and whatever else. There is a lot more to it than that, and I do agree that the trading education business is probably making more money for a lot of company's than trading itself is. I think a lot of the issues come down to the individuals psychology, which can't really be packaged and thought in a course. I am reading Rande howell's book I see recommended here at the moment which is good and I also recommend Mark Douglas trading in the zone. I personally think the trick is to find what ever works for you and this will be different from the next guy. 

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Guest oilfxpro



Psychologists like Rande Howell , Mark Douglas , Dr Van tharp and Dr Andre Menaker  are the true gurus of the trading industry.These Doctors of psychology are kosher, I don't have one bad word to say about any of them.


They are all very helpful.I bought Rande Howell's book but never really read it.I followed his articles on Trader's laboratory forum and his youtube videos.


Here is a link to trading psychology site with gems of information.Once you master your own psyche ,all  trading becomes easy.






As regards price action gurus, I am still waiting for certified audited accounts to see their credibility.I can show you a dozen videos on youtube why it fails as a money maker.Price action is map of the market behavior, it is highly subjective ,there is no evidence it can be applied by everybody in the same basis.


All the gurus are showing price action charts in hindsight, after the event,  hindsight is everything and it everything works in hindsight.I can show you a past historical chart and thousands of historical charts, showing price action works.


Here James 16 is teaching after the event in this chart, very similar to all the hindsight gurus.Both these charts below  are after the event .Who is a clever boy after the event?








hindsight  captain.gifhindsight  missing captain.gif



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Guest oilfxpro

Here is a live example of why price action does not work .Read the thread


Traders want to short the ftse based on indicators relying on price action.The short term price action reading  has cognitive biases.




Price action is subject to arouse psychological demons .










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Guest oilfxpro

 People have a choice to visit to do internet searches and verify these sites, they are no less credible than forexfactory or any other trading site/forum.People are intelligent and they can learn everything for free on the internet. Forexfactory has volume, but very little credibility in my books, it does not have a psychology section.


Simply type on google :youtube price action courses education


youtube price action courses education


price action pdf


 my 7 losing trades


Many traders should question themselves, after a sequence of 7 losing trades .


a)Will I carry on trading after 7 losses ?


b)Am I mentally prepared for losses?


c)Will I have confidence in my price action after 7 losses?


d)Will I behave rationally after 7 losses?Will I do revenge trades?Will I get stressed?


e)Will i get affected by any other psychological/mindset traps? 


If they can do this, there is no reason why they can not find a suitable profitable price action system and method.

My only reservation is that  our brains are not compatible with this price action information processing.




How You Handle Discomfort by Dr Andrew Menaker



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Guest Judge125

 Hi, again 

I have read a few posts around this forum today and I am curious, 

OILFXPRO are you a fundamental trader ? as I know nothing about fundamental trading, is it possible to intra-day trade using fundamentals?

and how do you decide where to place stops and targets and the trade type if you don't read charts?? 

I wouldn't even know where to start to do a fundamental analysis on say a 60 minute or 15 minute trade ??

as I said I am curiously interested. cheers 

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Guest Judge125


 "my 7 losing trades


Many traders should question themselves, after a sequence of 7 losing trades .


a)Will I carry on trading after 7 losses ?


b)Am I mentally prepared for losses?


c)Will I have confidence in my price action after 7 losses?


d)Will I behave rationally after 7 losses?Will I do revenge trades?Will I get stressed?


e)Will i get affected by any other psychological/mindset traps? 


If they can do this, there is no reason why they can not find a suitable profitable price action system and method.

My only reservation is that  our brains are not compatible with this price action information processing."


what do you recommend then, if not price action trading ?? thanks 






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Guest Judge125

I don't know where to ask so I'll ask here, 


where are the live trades posted?     or are there any?        I only see one   GBP/JPY trade posted 


Thanks    :smileyhappy:

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Guest oilfxpro



I only trade indices , I mainly a long biased trader.I trade supports  and sometimes trade short option spreads .


I rarely trade price action, if a price comes to a support I will buy a call option, knowing that the price will do anything and break below the supports.I sometimes trade trends but most of my trades are support trades.


You can track my posting history and see how I trade.I trade the Dow and Dax cash and options.I don't need to use stops, the options cap my risk.I don't sell options, I buy options.My risk is very well managed  with options.


I don't trade anything else, but in past the have traded forex, oil and stocks.


Everybody should trade within their comfort zone, risk appetite and skills,  every individual is unique.

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Guest oilfxpro



I have a simple question for you.


Trade city is offering education for $497, this is too good to be true.Real education can take 3 years, as per this course from Dr Van Tharp  costs $60,000.Do you think it is possible to educate anyone for $497?






I hope we can have a good down to earth chat about price action courses.

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Been proving you wrong for nearly two years, more importantly dissuading the unknowing and the hopeful/gullible from enrolling onto your 'one size fits all' 'set in stone' systems that you venomously promote but fail time and again to show actually work. The reasons they can't work I have already drawn attention to repeatedly. 


Just for your info I have never paid for education but have happily promoted free education material that I know is good even though it might come from a site offering pay for extras. 

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Guest oilfxpro

It is not the system that don't work, it is the  12 inches between the ears where most systems fail.That is why forex factory is giving 2700 free systems, so the suckers keep buying the price action courses on the forum and clicking the advertisements, fail and remain on it by using the free systems.An endless source of suckers generating revenues.

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Guest Judge125

oilfxpro what is the fundamental aspect of your trading ?? buying off supports to me is technical trading.

again I know nothing about fundamentals and I am Interested that's all


just to note I have spent thousands of  euro on education courses over the last 4 years, all sorts of everything and a lot of free courses as well, ( about 15 courses I think) all indicator based and I'm sure they all work, they just didn't suit me. 


Van tharp's super trader program is not fair to compare against basic level courses /strategy's , (I say this because a lot of  people sell strategy's) and a strategy without the matching psychology and beliefs is never really going to work.  


Van tharp's program is for experienced traders and is based on psychology and designing your own system to suit your objectives and  your beliefs, he states that the course is basically in his book "trading beyond the matrix"  to be honest I have read it twice and I would still need help to implement the exercises in it.  The super trader program last about 2 years and you only pass the course  if you have a 95% success rate. ( success rate is defined as not breaking a system rule not on wins vs losses) 


I have personally taken a price action course for a special offer of $100 and it opened the door for me to proper trading. I have went on to purchase the rest of this providers courses all in total of less than $1000 and its transformed me as a trader. although it did take about a year to complete and understand the information provided. however I am now happy with my strategy and I am working on my psychology at present because its my execution that does me damage not the education or strategy. the knowledge is gold dust, and if you become a member which I am not, as its expensive you can day trade live with the group and get daily support to help you. but I do believe most people will fail because of their psychology. 


but I have to say price action works and I love it. 


ps; I can't even see the price action on the charts posted to make a comment, the price is covered in indicators, my understanding of price action is "no indicators " 

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Thanks   for sharing your story which is well put and very interesting to read and you are quite right about covering the chart in indicators that obscures price action which is the simplest, the most real, and the only non lagging indicator there is.


I would personally avoid systems, courses and mentors, they constrict outlook and restrict oversight, to learn trading is a self fulfilling journey that takes time being as it is a very bumpy road.


The best advice I could recommend is to read 'Attacking Currency Trends' by Greg Michalowski. I would also add this to   for his thread ''best books for trend followers' though it is not about stocks the same principles apply. A large number of stock traders I follow on twitter use the same basic principles contain within the book.


Within the book there is nothing revolutionary or even new, just 100, 200 MA's, trendlines, support and resistance and Fibonacci on the daily, hourly and 5 min chart. But the way it is set out takes you on a journey and constructs a 'method' for applying logic to a chart where you firstly define risk then define opportunity. And it expressly negates the use of indicators such as oscillators that will keep you behind the curve.


It is expensive and the charts are small and in black and white but the description boxes within the charts are clear. I am a great reader and have read many but this is the best and most practical book on trading I have ever read.


No matter the market the same basic (simple) principles apply. Define risk (kept small) and have a trigger for opportunity (kept large).



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Guest oilfxpro

Judge 125


Don't waste your money and time buying books.


Books are written by authors and opportunists.You are in the trading gold rush. The only people who made money in the gold rush were sellers of picks, shovels and maps to the trading gold.Forget these charlatans.


The authors are selling the map to the trading industry gold rush.They have rebate agents in every corner of the industry.Please charlatans give us a break .Traders are sick and tired of these charlatans who don't trade.




You are better off drawing trend lines and channels on 4 hourly and daily charts , these are more accurate than the  moving average  theories. 


Keep trading very simple as per this site KISS, it also tells a load of truth from a  real trader.The chart I post below  is how simple trading should be.Very simple.All the forex trading information is provided  for free , better practical trading information not available from trading pretenders/charlatans who sell lagging moving average road maps.






Dr Van Tharp    KISS principle

Most people are not successful when it comes to trading. Why?


ftse price action 2.jpg





prender keep.gif



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Guest Judge125

Hi lads 

oilfxpro I did have a look at some of your trades posted they all seemed to be options


I think I am misunderstanding this topic, oilfxpro, I thought I read you were a fundamental trader but you show charts with technical trading buying off supports. I didn't know IG done options this I find interesting and I will have to investigate more as I hate being clipped out by 2 pips before the trade going on and hitting my target. Again I know very little about them, personally I think books are a good place to start. but I am selective in which information I choose to use. 


where are the live trades posted on this forum?  I can't seem to find any


what trading style do you recommend then?

buying off support and resistance in an uptrend, using options??

what is the fundamental aspect of this style?? 


casey I personally think mentors are the way to go, as it is in any other walks of life. If we want to learn anything we go to school or copy off someone else, figuring it out by ourselves can be a very long and costly road.  

but having said that I think trading is a very personal journey and experience and as individuals we all have different objectives and goals we want to achieve from trading. I think the trick is to pick and choose whats suits us and our mentality.


 are you guy's full time day traders ?? 

cheers lads. 

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Guest oilfxpro

Some of my trades called in advance are posted here below in posts, there are many more trades posted in these threads,you have to do the hard work.There are many more trades posted in advance in the following threads below.A good mentor will call trades in advance .


Mentors and gurus never post trades in advance, like this character call Mr charts on trade2win forums  or james16 on forex factory.They post results in  hindsight, of trades they supposedly took.He will teach you "HOW TO TRADE AFTER THE EVENT".You just  look at the charts after the event and pretend you traded it 






He also sells courses and claims to make around few hundred ticks a week on hindsight results and hindsight performance.If after buying his course on trade2win forum,it does not work , you can start a tread on trade2win forum, so they can ban you from their site.


You should read the complain below.




Also try the site recommended by Casey,  they may also be great.As regards Casey he has been challenged to post 20 trades in advance.Casey has been challenged to post 20 trades in advance like I do, so we can have some entertainment.




I can see how lagging and ineffective technical analysis is, by looking at the chart below


zero sum game.jpg

Some of my trades called in advance are posted here below in posts, there are many more trades posted in these threads,you have to do the hard work.There are many more trades posted in advance in the following threads below

















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,    who wrote "Don't waste your money and time buying books" in response to my post further down. As if someone who has had a well documented 26 year career working for large financial institutions is really going to be just a "charlatan". If he was a charlatan he would not have lasted 5 minutes at either Citibank or Credit  Suisse or rise in both to hold vice president of department positions. Charlatans do exist but are usually just loud na-sayers on forums (you know the type, everything is rubbish except what I do). 


After 16 years as a trader for some of the largest institutions in both New York and London Greg Michalowski then worked for 10 years on the brokerage side thus giving vast insight into trading from both sides of the fence. He has seen first hand what works and from the brokerage side saw the reasons why many traders fail. Fortunately he has put much of what he has learned into this book as well as detailing the basic concepts that work best.


His book is one of the highest reader rated trading books on Amazon but as oilfxpro, who strangely doesn't seem to have ever posted on oil or Fx in all the time he's been on the forum?, has told us in the past, he only "reads the one star reviews" to judge a book so small surprise he doesn't look at any of them.


Regarding mentors the first difficulty is finding someone who is actually able to help your own development rather than just pass on a system that may work for them but may not work for you. You could end up spending a lot of money for not very much in way of return. I follow many mentors on twitter and was a bit shocked when one said he was not even sure these skills are 'transferable', I was even more shocked when two others agreed with him.



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Guest oilfxpro



The skills of mentors are not transferable, he has to practise on demo for at least 6 months until all the skills become automatic, for subconscious execution by the automatic brain.It also means he to cut losses automatically and subconsciously.


Reading books and mentor's opinions on how to trade, does not develop automatic execution cognitive skills.He can learn as much as he wants, but all this learning is useless because until he can apply it in live trading, all the learning is ineffective.


All the forex information he needs is on the link I provided.He just has to practice it using the system on the link, until he can follow it without making mistakes.

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Guest oilfxpro

Price action  fails and it sometimes works.See charts


on euro usd the price action above the last resistance was good, it had test and retest of support, then it broke down


eur usd.jpgo


On Dax  supports price action is good





learning ta.gifta  dumb singing.gif

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