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Price Action Swing Trading - The PAST Strategy
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[QUOTE="Nigel Price, post: 81448, member: 25485"] Morning geeno - as far as your entry is concerned, that is very impressive. 7 pips is tiny! But I what I would say is that you will have to prepared to take plenty of those small losses before you get a big move. But to be fair, if your average loss is somewhere around 7-10 pips, you won't [B]need[/B] to get many winners in order to be profitable. In terms of the higher timeframes - looking at the Aussie, you are right, there does seem to be overall bearishness alright - am I right in thinking you are trading this as a continuation of the current bearish move? Personally, (and this is only my style, everyone should trade in a way that suits them best) I like to look for evidence of a reversal on the higher timeframes, and then use my tight entries to try to get in at the very beginning of a potentially large move. You'll notice at the start of the [URL="https://www.youtube.com/watch?v=DOXkAv-dOgg"]USD/CAD video[/URL] - I am looking at reversals of the bullish trend on both the weekly and the daily (it was only a very small bullish trend on the daily chart, but there were three bullish candles nonetheless). I'm all about getting in at the very start of very big moves - that's where I have seen the greatest profits. On Aussie, I would say that the big move to the downside could already be behind us - is there potential for another 1,000 pips to the downside on Aussie? Possibly, but given that it has already fallen 1,700 pips in the last few months, I get the feeling that the large move there might have already taken place.... [URL="http://forexuseful.com/product/price-action-swing-trading-past-strategy-ebook"]From Chapter 4 of the PAST ebook[/URL]: “[I]I believe the very best money is made at the market turns. Everyone says that you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms[/I].” Paul Tudor Jones But who knows what is going to happen - I certainly don't! As long as you are keeping your losses small and your winners big, you'll struggle not to do well. Hope that helps! Thanks for the chart and the question. It took me about 18 months to figure out how to post charts on here - and you got it right first time! Fair play! :D:D [/QUOTE]
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