Like live trade videos? This is a cool one, a quick 30 pips gain on GBP/USD using just a reversal candle and a psychological level. Next video coming tomorrow I will explain exactly how I took this trade.
Enjoy this post? Then leave a comment and say thanks!
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{ 21 comments… read them below or add one }
very nice Nick, but what about today reversal on gbp/jpy from 151,71 line – I took nice ~50 pips-thanks
I was pleasantly surprised to get the email saying that you took the reversal on GBP/USD as I had done the same, except waited for the bearish 4H candlestick to close, got in at 1.6719 and after it ranged for a while, it went the wrong way and took out one of my stop losses at around -40 pips. Really nice to have an analysis of my trade basically and can definitely see where I went wrong with my entry, just hope that its only retracing at the moment and the bears take back over!
as usual – thanks for posting
Very interesting and educational! Thanks
Gday Nick,,
Bro, thanks heaps for another awesome video, Im really starting to pick up and implement all of the things you keep drumming into us.
Cheers Mate,, beerys on me at the Opera Bar when you get home.
Billy
Thanks
Thanks Nicky. I starting now and these videos the best thing to learn how trade with your discipline, I have been losing some money because of bad entrys and now I understanding why.
Hi. Thanks for posting.
This may have been mentioned before, but how much % capital do you risk per trade?
Thank you very much. I’m an absolute newbie, (my first real week) but I’m up 85 pips for the week on the EU/USD. I hope to grow and continue enjoying this….
Nice trade Nick, but what is so special with 1.6750 level? it’s not a psychological level, is it?
Twitter: forex4noobs
November 10, 2009 at 12:29 am
@Ran:
Yes it is….. you have been here for ages man do you not know what psych levels are? Not to mention I said it was a psych level 20 times in the video. It is not a major psych level but I just needed a good entry point for the reversal and that was the best one close by.
Thanks Nick, Very helpfull
Thank you Nick, you make it look so easy !! My only slight confusion is that on all my demo charts with different server times, the indecision candle looks very different and the bodies are all larger, appearing more like dark cloud cover type candles. Am I going mad ?!!!
Ah forget that I have just figured it out, looking at it a day later the candle you made the money on, ended up a large up candle which confused me, so I was actually looking in the wrong place if you see what I mean.
Looking forward to today’s video. Thank you again.
Thank you Nick..
Very helpful and educational.
Hi Nick,
I know you mentioned it but 1.6750 in my opinion (till today any how) is not so significant level. 1.6000, 1.7000 yes they are 1.6700 also but 1.6750 is not that significant and that is why I asked. I’m not trying to be clever it was an honest question. Usualy you talk about phsyc levels of GBPJPY so for me it was the first to hear you talking about GBPUSD and now I know. I’m here for ages only because I like the way you think/trade and really aprciate your efforts educating us.
Hi Nick.
Thank you for your video.
I was thinking if you could post some loosing trades videos too. It would be nice to see have you tackle loosing trades and what factors you make your decisions on in terms of letting the trade run towards stop loss or exiting earlier based on candle patterns. Just an idea
Very informative, thanks Nick:)
Hey Nick!
How about trading times?
You mentioned you don’t trade in the New York session. That’s a tricky one, since half of the London session overlaps with half of the New York session.
The trade took place at around 15:00 GMT. In the New York session. Yes, it was London session, too.
So, it would be the easiest to get it if you could elaborate times to trade and not to trade in simple GMT terms. For example: trade from … to …. GMT and not trade from … to … GMT.
Thanks!
Hi Nick, Great video thanks. Also looking forward to the new master candle ebook. Cheers.
Nice trade nick, keep the vieos flowing love them