This summary is in no way intended to replace reading the whole thread.
It’s simply a single post where we can draw on information quickly. New members can find most of their answers to questions by simply looking through these posts and attachments. Sorry this is so long, but I think it’s pretty thorough, and I think necessary with over 23200 posts and counting.
What is it you want?
http://www.forexfactory.com/showpost...postcount=3196
http://www.forexfactory.com/showpost...postcount=5781
http://www.forexfactory.com/showpost...postcount=6912
http://www.forexfactory.com/showpost...ostcount=11639
http://www.forexfactory.com/showpost...ostcount=12411
http://www.forexfactory.com/showpost...ostcount=13429
http://www.forexfactory.com/showpost...ostcount=14895
http://www.forexfactory.com/showpost...ostcount=22559
http://www.forexfactory.com/showpost...ostcount=16023
http://www.forexfactory.com/showpost...ostcount=16067
http://www.forexfactory.com/showpost...ostcount=16435
http://www.forexfactory.com/showpost...ostcount=17986
http://www.forexfactory.com/showpost...ostcount=18857
This stuff works. Get a Plan.
http://www.forexfactory.com/showpost...postcount=7951
http://www.forexfactory.com/showpost...postcount=8609
http://www.forexfactory.com/showpost...ostcount=15568
http://www.forexfactory.com/showpost...ostcount=10935
http://www.forexfactory.com/showpost...ostcount=12415
http://www.forexfactory.com/showpost...ostcount=13430
http://www.forexfactory.com/showpost...ostcount=14788
http://www.forexfactory.com/showpost...ostcount=15645
http://www.forexfactory.com/showpost...ostcount=18197
http://www.forexfactory.com/showpost...ostcount=18681
http://www.forexfactory.com/showpost...ostcount=18912
Power of Demo Accounts and Size Matters
http://www.forexfactory.com/showpost...ostcount=19935
http://www.forexfactory.com/showpost...ostcount=19937
http://www.forexfactory.com/showpost...ostcount=19939
http://www.forexfactory.com/showpost...ostcount=15072
http://www.forexfactory.com/showpost...ostcount=16457
Other Quick Summaries of Thread
http://www.forexfactory.com/showpost...ostcount=13579
http://www.forexfactory.com/showpost...ostcount=22084
Draw PPZ and Wait for PA to give trigger. Patience
http://www.forexfactory.com/showpost...&postcount=164
http://www.forexfactory.com/showpost...postcount=7203
http://www.forexfactory.com/showpost...ostcount=21722
http://www.forexfactory.com/showpost...ostcount=15199
http://www.forexfactory.com/showpost...ostcount=16041
http://www.forexfactory.com/showpost...ostcount=18576
Summary of types of PA with Entry/Exit example
http://www.forexfactory.com/showpost...postcount=4572
http://www.forexfactory.com/showpost...postcount=7649
Location is Everything
http://www.forexfactory.com/showpost...ostcount=21485
http://www.forexfactory.com/showpost...ostcount=19932
http://www.forexfactory.com/showpost...ostcount=13176
http://www.forexfactory.com/showpost...ostcount=16392
http://www.forexfactory.com/showpost...ostcount=22745
http://www.forexfactory.com/showpost...ostcount=18571
PRICE ACTION Examples (not anywhere near complete... just a glimpse):
BUOB/BEOB
http://www.forexfactory.com/showpost...ostcount=11011
FIBS
http://www.forexfactory.com/showpost...ostcount=11697
http://www.forexfactory.com/showpost...ostcount=14735
For types of Pinbars and pinbar characteristics
http://www.forexfactory.com/showpost...postcount=3914
http://www.forexfactory.com/showpost...ostcount=20270
http://www.forexfactory.com/showpost...ostcount=22057
http://www.forexfactory.com/showpost...ostcount=19711
http://www.forexfactory.com/showpost...ostcount=14627
Pinbar statistics (do your own homework/testing)
http://www.forexfactory.com/showpost...postcount=4503
http://www.forexfactory.com/showpost...postcount=4548
http://www.forexfactory.com/showpost...postcount=8826
Divergence kills in trending market
http://www.forexfactory.com/showpost...ostcount=10624
PPZ, S/R, and Round Numbers
http://www.forexfactory.com/showpost...ostcount=14084
http://www.forexfactory.com/showpost...ostcount=14847
http://www.forexfactory.com/showpost...ostcount=15829
IBs
http://www.forexfactory.com/showpost...&postcount=164
http://www.forexfactory.com/showpost...ostcount=21625
http://www.forexfactory.com/showpost...ostcount=17570
Breakouts
http://www.forexfactory.com/showpost...ostcount=13103
http://www.forexfactory.com/showpost...ostcount=13108
http://www.forexfactory.com/showpost...ostcount=13456
http://www.forexfactory.com/showpost...ostcount=13537
http://www.forexfactory.com/showpost...ostcount=14031
A word on Gaps
http://www.forexfactory.com/showpost...ostcount=13508
Psychology of Losing and accepting a loss
http://www.forexfactory.com/showpost...postcount=5006
http://www.forexfactory.com/showpost...ostcount=20876
http://www.forexfactory.com/showpost...ostcount=12690
http://www.forexfactory.com/showpost...ostcount=15563
http://www.forexfactory.com/showpost...ostcount=18600
Setting Percent Risk per Trade
http://www.forexfactory.com/showpost...ostcount=12509
http://www.forexfactory.com/showpost...ostcount=13891
http://www.forexfactory.com/showpost...ostcount=17707
To post a chart from MT4
http://www.forexfactory.com/showpost...ostcount=12192
http://www.forexfactory.com/showpost...ostcount=16184
James16 Trade Strategy
http://www.forexfactory.com/showpost...ostcount=20335
http://www.forexfactory.com/showpost...ostcount=14427
http://www.forexfactory.com/showpost...ostcount=14434
Raczekfx Trade Strategy
http://www.forexfactory.com/showpost...ostcount=15825
http://www.forexfactory.com/showpost...ostcount=17523
http://www.forexfactory.com/showpost...ostcount=17524
video http://www.forexfactory.com/showpost...ostcount=18036
EXITS
R:R
http://www.forexfactory.com/showpost...ostcount=21956
http://www.forexfactory.com/showpost...ostcount=21958
http://www.forexfactory.com/showpost...ostcount=14914
http://www.forexfactory.com/showpost...ostcount=17257
Wizard explaining exits
http://www.forexfactory.com/showpost...postcount=3504
Seeking Light response
http://www.forexfactory.com/showpost...postcount=3509
http://www.forexfactory.com/showpost...postcount=5510
Ademac method of exits
http://www.forexfactory.com/showpost...postcount=4067
Other Exit posts
http://www.forexfactory.com/showpost...postcount=6090
http://www.forexfactory.com/showpost...ostcount=10098
http://www.forexfactory.com/showpost...ostcount=13421
http://www.forexfactory.com/showpost...ostcount=22380
Daily versus Intraday Charts for Newbies
bundyraider http://www.forexfactory.com/showpost...ostcount=13546
mbqb11 http://www.forexfactory.com/showpost...ostcount=13547
mbqb11 http://www.forexfactory.com/showpost...ostcount=13553
aSandman http://www.forexfactory.com/showpost...ostcount=13557
bundyraider http://www.forexfactory.com/showpost...ostcount=13233
aSandman http://www.forexfactory.com/showpost...ostcount=13254
James16 http://www.forexfactory.com/showpost...ostcount=15069
James16 http://www.forexfactory.com/showpost...ostcount=15072
Ghous http://www.forexfactory.com/showpost...ostcount=16072
I originally fought with the idea of Trading on Daily/Weekly charts only versus Intraday Charts. Here are my views on them now.
Reasons for new traders to trade 1 hour/4 hour charts
You’ll have more setups, since more bars will close each day. But you’ll be tempted to take many more of these setups, most of which will not be A+ candidates. Taking more trades does not make you a better trader. Taking better trades makes you a better trader.
You’ll be able to enter a trend earlier. True, and experienced traders do use this method of entry… But refer to #1 – not all the PA setups you’ll see are valid. In fact, the reliability of a price action setup falls as we use lower timeframes.
You need less of a pip run before you would meet your profit (because you’re stop would be closer). This also works against you, since you will need less of a run to be stopped out.
Reasons for new traders to stick to the daily/weekly charts
They are more reliable, because they incorporate more data/bar.
You will have more time to analyze the patterns and not feel rushed.
http://www.forexfactory.com/showpost...ostcount=11090 As Bundy points out, you use PPZ from daily/weekly timeframes for trading intraday charts. So you might as well master this method on these longer timeframes first.
Conclusion on timeframes: I think most new traders want to use intraday charts to 1) Get rich quicker, 2) Take more trades, 3) Learn faster. These are all wrong theories. Trading is not a get rich quick scheme. As mentioned, taking more trades will not help you learn better and won’t be better for your bottom line. At some point, you have to learn to ONLY take the best setups. It’ll be easier if you do this right from the start. LEARN to only take the best trades. Guess although I’m not a master trader, I am a full advocate of using Day/Week charts to learn.
Favorite Quotes/memories
Wizard getting struck by lightning
Be a sniper, using a rifle, not a shotgun. (Not taking every set up is one of the most important things to moving forward and becoming successful. Pick and choose A+ setups only.)
Jaroo’s famous saying: “Novice traders continually monitor, analyze and alter their trades to maximize their profits. Professional traders continually monitor, analyze and alter their trades to reduce/minimize their risk and reduce losses. It's all about avoiding loses. Work on that and the profits will take care of themselves. Post 10101
Mike’s Words of Wisdom in post 13812 and 14395, “It is usually what we end up doing in between all the A+ setups that usually lead to breakeven or negative trading.”
Post 16179, Forex007, “BEVOB, Bearish Vertical Outside Bar. Hmm, do we get many horizontal or diagonal bars?”
Rusty Jeff has been stung, sliced, and bitten. He swims AT sharks. This guy is crazy. But then again, James16 raises snakes, so maybe this group is crazy J
Post 18710. Rusty Jeff explaining that looking at charts plastered with indicators is like wearing glasses covered in Vaseline.
The Raczefx Equation: PA + psychology + strong desire to learn and succeed + long TF = $ in your account
The Ghous Equation: PA(location + shape) + with the trend + S/R confluence =
Ryanmcd post 14187 explaining to trade with the trend. I’ll let you read it. Had a good laugh. http://www.forexfactory.com/showpost...ostcount=14187
Complaints/Suggestions for this thread
Use the subject/title line to note the pair and timeframe you are referencing in your post/chart.
Wait for the bar in question to close before posting it. Often the PA isn’t there when the bar closes.
Make your charts the correct size to make reading the thread much easier.
Thanks to James16 for starting this thread. Thanks to all the posters who have made it the textbook to learn, with thousands of examples, answers to every question, insight on money management and trading styles, and lots of encouragement along the way. I have learned so much about trading in the last 2 months, all from simply reading, studying, reviewing, and applying the principles in this thread. Keep it up everybody, we've really got something amazing here
Josh
