Proven Price Action Strategy - ForexTradingEmpire

Also available in Meetup memebers download area:
http://www.meetup.com/Singapore-FOREX-Group/
http://files.meetup.com/1777129/massivetrendreport.pdf


1.  Price drop to 50% - 61.8% Fibonacci level on Daily Time frame.

3.

2. Drill down to H4 - look for "Reversal PinBar"

3.  50% FIBO level and Reversal Pinbar coincide with previous Support/Resistance level

Once the 3 levels "Confluence" confirm is likely a HIGH Profitability Set-up for Up Trend to RESUME.

Bear in mind forex trading is just a Probability game.

To increase the winning probability - Stop loss and Risk/Reward

4.  Set StopLoss below Pinbar

5. Set Profit Target and check Risk-Reward ratio
    TP 1 at Resistance/Support level on Daily chart

    TP2 - tailing stop at breakeven and FIBO extension level

Time Frame for TP1 to achive for this example is 9 trading days with 180 pips.
p/s:  2 trading days profit +150 pips.

Before reaching TP2 next few days market in narrow range - "consolidation", waiting for "Breakout" to TP2 profit +280 pips.

Bradley Turn Dates 2012

http://forbestadvice.com/Money/Gurus/DonaldBradley/BradleyTurnDates2012.html

Words of Wisdom

Law of Opposites

My first millionaire mentor said, "Jamie, to be successful, find out what most people are doing and then do the exact opposite." (i.e., head in the opposite direction)

"Even if you have no idea what you're doing, at least you'll be heading in the right direction because", he said, "Most people don't succeed. And the reason they don't succeed is because they don't take action. And even if they do, it's the same thing as what everyone else is doing.

=====================================================================

Every king was once a crying baby, every great building was once a blueprint. It's not about where you are today, but about where you'll reach tomorrow.   - The wise said

There are times when playing the stock mar­ket that your money should be inactive - waiting on the sidelines in cash - waiting to come into play.

In the stockmarket - time is not money - time is time ­and money is money.

Often money that is just sitting can later be moved into the right situation at the right time and make a vast fortune – patience – patience.

Patience is the key to success not speed.
Time is a cunning speculator's best friend if he uses it right.

Remember the clever speculator is always patient and has a reserve of cash.   -  Jesse Livermore

"There are bold traders, there are old traders, but there are NO bold and old traders

If it is too good to be true, then it is NOT TRUE."     Teguh Pranoto Chen


A bird does not sing because it has an answer. It sings because it has a song.  Chinese Proverb


Be not afraid of growing slowly; be afraid only of standing still.             Chinese Proverb


You only need a few ideas to be fabulously wealthy

It is okay to be wrong, but not okay to stay wrong. - Alexander Elders

Success not by chosen few but chosen by a few who make an effort to choose it.

Knowledge is the foundation for financial capital - www.rankbooks.com

"Everybody Gets What They Want Out Of The Market" - Ed Seykota

No matter how great your software is, no matter how long you've been trading, no matter how much money you have, if you don't conquer fear and greed, you'll never be a consistently-profitable trader.

3 Focus to successful trader

#1 Fear - Winning manage fear but losing traders controlled by fear.
#2 Anger
#3 Guilt

Fix it - Forgive yourself for pass losses and take full responsibility for all past and future losses.

www.TripleTheTrading.com

When the signals appear - trade without fear!

To be profitable in any proven trading system, you have to take every trade when the signals appear and trade without fear!

Important of Stops

There are old traders and there are bold traders, but there are NO OLD BOLD traders.

Because traders who don't use stop go broke.

Key to Winning Model - Patterns and Context

Best winning model is ability to exploit pattern recognition and able to execute within proper context and do not used it indiscriminately.