Nick's Forex Blog
He is one of the most accomplished investors on Earth….
Warren Buffet is a personal hero of mine. His story has always inspired me and he is one of the reasons I do what I do. So here are some of his most famous quotes, with a few thoughts on how they relate to Forex.
Continue Reading →
it took me a while to read through all the entries and select three of them as winners. I did not expect there to be so many!
Thank you everybody for entering as always there was many I wanted to choose. The short list came down to 34 comments! So it was a tough job removing 31 of them.
I finally selected the winners though, here they are in no particular order:
Thomas December 13, 2010 at 4:16 am
My name is Robin Good and I desperately seek a way to cross Sherwood Forex and afterwards help other traders to master the fight against bulls and bears.
Dave December 13, 2010 at 8:31 pm
With Nick as my mentor
A ninja I’ll beCutting my losses
Price action’s the keyReversals and breakouts
Will win it for meForever grateful…..soon I’ll be free
Secret Trader December 14, 2010 at 9:45 am
According to the cable NICKGIVESMENTORSHP2010 on Wikileaks you are training an elite group of unstoppable trading machines and I want to be a part of this privileged group.
The mentoring will start in mid February!
Over the past few months my trading has been evolving. I have started looking away from simple S+R line trading and looking more at candles. Don’t get me wrong S+R lines still make up a big part of my trading but they have taken a back seat to candle patterns.
This is because I have been delving into price action analysis. This is the analysis of the movement of price as it is happening. The major benefits of price action analysis are:
The main forms of price action analysis I am using are reversal trading and master candles (MCs).
Continue Reading →
Don’t you just hate it when you look at the left hand side of your chart and see that a gigantic move of 100s of pips occurred, although you weren’t able to take advantage of it because you either didn’t see it coming or didn’t feel certain about getting in? I want to show you my formula for identifying and catching the big moves in forex.
Guest blog post by Kris Matthews
You’ve probably heard the advice to not “chase the market” but also heard the advice to not “catch falling knives.” The former refers to getting into a trade after price has already started moving very fast, while the latter refers to trying to buy at what one may think is the bottom of the market. So what does one do- buy dips or buy when price is moving up? Why do the things in life with largest potential rewards have to be so contradictory?
Guest blog post by Kris Matthews
Something that really humors me is the human tendency to search for the “holy grail,” the “magic bullet,” the “surefire strategy” that will bring them profits no matter what, and not require them to even think. However, when asked whether certain traders believe it exists, they say “No” on a conscious level but subconsciously are looking for that invincible, plug-and-play strategy. I don’t want to sound like I’m better than those people because I went through that too, and to this day, occasionally I still can’t resist reading about some latest hot-shot forex trading strategy some guru came out with that pulls in 1,000 pips per week—we’re all just wired to want to believe these things.
I am trying to update trades throughout the week when I can. So here is a trade update…..
I am not taking the 139.65 long, there is no clear momentum and S+R zones are dangerous! If we had a clear break I would enter the trade. However, as I said S+R zones are dangerous and there is little momentum so that = no entry for me.
Will update again if I decide to enter later.
UPDATE: I am in now entry was 139.82 (awful entry) however it build up momentum a little late so it was the best entry I could get.
Wary of the 140.00 psych level.
Target remains the same despite late entry.
UPDATE: CLOSING OUT THIS TRADE! I am a little disappoint the lack of price action at the start gave me a bad entry at 139.82. This meant I only managed to grab 38 pips when I should have had 55 pips. No big deal, profit is profit.
Ever since I opened Forex4Noobs.com people have been asking me how I know when to enter a line break. This is because I do not enter all scalp/constant line breaks. Sometimes I do not enter simply because the trade doesn’t look right!
So naturally newbie traders are curious as to why I sometimes do not take bad trades. And when they ask me I always say I know because of “intuition based on years of experience”. Just like a seasoned cop can spot suspicious behavior in a person I or you couldn’t. The cop has intuition based on years of experience.
However, I believe I have finally figured out a way to better explain this. Hopefully you guys find these Forex tips useful. It may sound silly to start with but stick with me here.
Imagine a stampeded of bulls rushing through a large empty field.
Continue Reading →
Hey Guys,
First off I want to say to all of you who entered. Thanks, that was almost 400 entries! It took ages to get through them all.
There has been a little bit of complaint over the price of the next course. So as a thank you to everybody who entered I am going to give a special pre-release offer on the course. The course is scheduled to be released February 28th 2010 (less than 2 months from now).
(OFFER CLOSED)
When you get the course at the pre-release price. You will get instant access. Over the next two months I will be adding videos to the new course. There will be at least 1hr added each week to the course. So if you get it on pre-release you don’t have to wait 2 months for the course! It will slowly be built up over the next 2 months. The first hour is being added this week so you will already have access to the first hour of videos.
The course will only be available at this price for about a week. The only reason I am doing this is because of the high demand for a lower price. Hopefully this will make all you guys who wanted a bit of a discount happy.
Hey Guys,
Time to pick the winners. Sorry this is a little late a lot of stragglers sent applications in late and I wanted to read them all. Ok so lets do this.
PulsarFx
Nick I am an Astrologist give me the course and the next planet I discover will be named after you.
I love astrology and physics. I have a stack 15 books high on string theory, black holes, higher dimensions and astronomy. I know PulsarFx is not going to actually name a planet after me but it is a cool thought and I have massive respect for his field of work.
EDIT: I got some email’s saying astrology and astronomy are different…… of course they are that was the joke!
Danno1290
I have a 20 year old car, I am balding and I am unmarried. Pathetic is an understatement I need something to give my live value.
I just feel sorry for this guy. He definitely does need some help.
Dream-Caster
If I do not make cash soon I cannot buy my wife shoes. My wife gets very mad when she doesn’t get new shoes. Please don’t let her beat me up Nick.
This one made me laugh…….
Greg McKINLAY
Pensioned out of Police after 21yrs because of MS, pension lump sum gone on necessities. Need to make some money!
MS is a horrible disease. I have actually done some tests myself as I was afraid I might have it. So far it all looks good and I do not fall in any of the risk factors. But if was very freighting going in for the tests.
Bkaze
I need to break free. I sit at work day dreaming about blowing up my workplace (when my colleagues aren’t there) well maybe my boss is working late KABOOM!
Bkaze when i first met my girlfriend she said the exact same thing. Apart from it being hilarious I am sure heaps of people here can sympathize.
NeilA
A PA fur me (Chorus)
(Repeat Chorus)
If I don’t have PA
Its nae use to me
So gees a break and
Copy me
THEN I will have PA
(Repeat Chorus)
I guess you have to either be Scottish or live in Scotland for this gibberish to make any sense. It made me laugh. It is scary that having lived here in Scotland since April I can actually translate that stuff! Plus I heard NeilA is a Micheline Star rated chef…… now he owes me some I get great food FREE for life (I hope)!
Doc
Counting on Nick to help me get over the idea that 4x (XXXX) isn’t porn, judging from the screwin’ I’ve been getting from other systems…PLEEZE be FREE -1 TIME!!! *_*
Hahahahaha….. ok!
Adiranna
I……alone…….surrounded by the evil twins AUD – NZD and the samourai YEN…….tracked by the Cable, the Fiber and their Cross pairs…….how to fight these beasts…..?…….NICK VIDEO !!!!!!
Great imagery in just 30 words. I loved this entry.
Jerrad
Want to become rich and famous so I can be a ‘Star in a Reasonably Priced Car’ on Top gear.
Love Top Gear but you probably already knew that hence the reference. I doubt Forex will get you on the show but hey why shouldn’t I support your dream.
Jurne
09 was really funny,
coz i lost all my monies,
New Year New Resolution,
NickB’s video is my solution.
Love it.
Ok guys that pretty much takes care of the 10 winners! It was tough going through the almost 400 entries and picking just 10 so I hop you guys are happy with my picks. Now on to another issue.
There has been a lot of talk about this new course being too expensive at $479.99!
I find it hard to agree since the previous one was 4 hours long and cost $250 when released. This one will be longer than 8 hours in the end so I think it is worth it.
However, many of you guys still think it is too pricey. So I am prepared to make a special offer to all you blog readers (if you want it)…..
How does a $120 discount sound? So the price will be $359.99 instead!
If that sounds good and you want the discount I will put the course on pre-sale for a week or two and that discounted price.
Let me know if you guys want to buy the course on pre-sale at that discount so I can set it up. I am asking since I am not sure if anybody will want to buy it 2 months before it is actually released.
This course will have a 60 day money back guarantee. Even if you buy it on pre-sale your money back guarantee wont start until the course is released. So you will be protected if the course doesn’t work for you or you just don’t like it.
With this pre-sale course you get a huge $120 saving and you will get first access to the coruse when it is released towards the end of February.
