Are you struggling in Forex? I am a full time Price Action Forex trader, ask me anything.

I know a lot of you are struggling with Forex and with Price Action. Forex can be hard to get a handle on, especially at times like this when volatility is constantly changing.

So if you want help or advice, leave a comment below. Tell me what you are struggling with in Forex that is keeping you from being consistently profitable.

I will read and reply to every comment. So if you want my advice, tips or help now’s the time to ask.

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172 thoughts on “Are you struggling in Forex? I am a full time Price Action Forex trader, ask me anything.
  1. Hi Nick,

    Would you say a retail trader should consider fundamental analysis as well as price action or just concentrate on technical analysis?

    Enjoying your posts and your honesty.

    Many thanks,
    John

    1. You should definitely concentrate on both fundamental and technical analysis. Fundamental analysis is vital. At the very least you should know the important news releases and how they might impact your trades..

  2. Hi Guru,
    Let me have your valuable guidance,advice and tips since I am trying to be consistently profitable please.Thanks
    kuma

  3. Hello Nick,
    I enjoy your videos & approach to forex. I have a demo account & have made a few trades, but am not at all sure about what Im doing. The biggest struggle for me is the forex interface. Buying & exiting, stop loss, etc.
    I have bought & sold stocks for years, binary options too. Im confortable with support & resistance, indicators etc. But Im really guessing with the actual trading.
    Any advise?

    Thanks,
    Joe Hamilton

    1. It may be boring, but have you gone through your brokers platform tutorial videos? What platform are you using, if I know that I could point you in the right direction.

  4. would request for any tips & price action { both intra day & future } wrt Forex as well as XAU/XAG pl.
    so far it has been very bad experience trading in forex.
    looking for a hand-holder & guide to sail through & keep sticking to forex market and to help regain lost money in forex market so far.

    look forward to inputs pl.

    1. I can’t really just list off a bunch of price action tips. If you want something specific I can help though. One thing I will say is that the clichés like “the trend is your friend” are misleading. Do not follow the clichés ….

  5. Actually, there isnt anything specific that brings me any problems with trading, me starting with forex around 2 months ago, opened a 50 usd demo account on leverage 1:500 i think (alpari) and manage to make 130 usd profit with making a loss of about 10-15 usd at the most at gbp/usd, eur/usd and some other ones less often invested in. The only thing I struggle is not finding courses or guidance, as there is thousands of different thoughts and theories that millions of people use and claim they are the best, when in actual situation, it not only depends on the style we trade but also on the time and position of the market (different seasons, different months, different results, always unique in some way).

    What I am actually struggling, is to find someone who is well experienced and could warm-heartly guide me or at least have a conversation or couple about forex overall, their experiences and such. I would really appreciate if I could speak to you personally, instead of the comment section on your website.

    Best Regards,

    Getherer

  6. Hi Nick,

    We have talked briefly on Skype…
    My biggest issue is that I am getting out too early of my trades. I am currently taking 10/15 trades per day on the 5 min time-frame (currently watching 13 pairs)
    …I am using Price Action without any indicators/oscillators…just S/R levels and the well-known Price Action concepts
    …At the end of the day, when I do the review all of my trades, I realize how much I could have gain if waited longer…I typically try to go for scalps 1:1 R:R (10 pips minimum target per trade)…However, my finger gets itchy and I have the tendency to scalp 5/6 pips instead of waiting for 10 or even more…
    My goal is 100 pips/week (20+ pips/day average)…
    I do know that you are using 4H/8H time-frames…I cannot wait that long for a trade to complete…I have tried…I feel much more comfortable on the 5 MIN…
    How do you deal with emotions?

    Cheers,
    Catalin

    1. I use to have the same issue. I got over it by setting a target and a stop, then leaving my computer and not looking at the charts. By disconnection myself from the charts I did not have to deal with the emotions.

      Eventually my confidence grew and I ended up not closing out early even if I watched a trade.

      It might be tough, but step away from your charts. Think about it as an investment into your long term success.

  7. Hello Nick,

    Ken Aldridge here from Mineola, TX.

    Yes I am having trouble learning to trade the forex and getting on the profit side of the deal. I will be up a few dollars and then back down. Still not below my dollar entrance account but getting no where at all.

    I have been trying to learn price action using the daily chart, but still not getting a handle on it.

    Question; What is the cost of your training. I am retired and just turned 80 in August, but I am wanting to learn to trade the daily chart due to the fact of not having to stare at the chart for hours.
    My doctor tell me that he is glad to see me wanting to learn the forex market for it will keep my mind active.

    I am very open to your help.

    Thanks in advance,

    Ken Aldridge

  8. I’m struggling with the absolute basics, I read and try not to read to much into it all the news that could effect the USD/JPY.
    Constantly I get it wrong.
    I try my best to read the candles but am never certain to what I see even though I have followed your videos on YouTube.
    Half of the business talk out there seems to be in Greek especially when you follow the calendar and news filters through of the effects of certain information percentages and expectancies etc.
    Basically if I finish this dribble … I feel very lost on where to start again.
    A mistake can be looked at, learnt and you carry on but if you don’t understand what your doing your never going to get anywhere hey !
    Should I relook again and try to beat down this wall of your videos so it finally sinks in ? A man of your calibre I guess can spot an amateur trader a mile off and be able to suggest one of the best ways to like a say restart, clear thoughts & make a more professional decision when it comes to trading

    Many thanks
    ( Great idea inviting questions )

    Steve

    1. My first question is always, have you gone through the absolute basics? As in…

      “What is Forex?” through to “what is support and resistance?” I cover this in the education section.

      https://www.forex4noobs.com/forex-education/

      If you have already gone through this stuff let me know and I will help you further.

      As for the news, fundamentals are vital in the long term. However, for the short term, ignore all but red reports on Forex factory. Sure, you may lose some trades due to news… but that is how you learn. Better to actually be in the trade than to miss it for unimportant news.

  9. Sir,
    Thank you for the opportunity given to new forex traders to express our concerns. I am a novice trader who have had more downs than ups in forex trading but with the firm interest to continue. My question is as follows- – I use the multiple time frame for my operations, that is, daily, one hour and 15 minutes time frames. If you use this system, could you please tell me how to properly use it, or even if you do not use this system in your trading, please, kindly recommend any system that can be successful even if I will have to study and demo trade it.
    Thanking you in anticipation.
    Regards.
    Ernest Thomas Ebere

    1. Long term analysis is not very useful. In the end, nobody can predict if or when a trade will turn around. I do not try to predict long term trend movements, I just react to short term price action signals and enter trades.

      If you keep trying to figure out what a pair will do in the coming months…. you will end up losing a lot of time and money.

  10. Hi! I am a newbie and im confuse by the leverage thingy. How do i know which leverage is suitable for me – for a very small account like 100-200usd? Thank you.

    1. Just stick with the standard 50-1 or 100-1. Leverageing too high is dangerous for a newbie and unnecessary for a professional trader. Go with 50-1 or 100-1 and stick with it.

      I use 100-1 and have done so for years. If you’re limited to 50-1 that is fine too.

  11. Sir, the only problem is with understanding strong &minor support &resistance areas.If you can
    highlight this issue.

  12. Market has not been favourable to me. Can give me signals for a month or give me your website where I can see signals. Thanks

    1. I do not do signals. Signals are for lazy people who do not want to learn to trade for themselves. If you want to use signals, you should not be trading Forex.

      For example, if I give you signals for two months and you make a lot of money…. then I stop. All of a sudden you make no money and you have not learnt anything.

  13. SIr, I have lost it I meet a fake mentor in facebook and he told me he will teach me trading for fees .I payed him the money and started to learn from him. During our training I realized i knew more than him but he showed me his bank statement .Then I started to trade live with him ,i have suffered a huge loss and now am really desperate .Am even thinking to commit suicide .My family depends on me alot and to help them i started to learn forex .I dont know what i want to do now please Sir Help me please

    1. Suicide won’t help your family.

      Siddhanta, Forex is not something you can start doing when you are desperate for money. If you need money, you should find a job. Forex is something you can do while you work a normal job.

      With a few years of practice, maybe you can quit your job and become a full time trader.

      On average it takes somebody 2-3 years to become a successful Forex trader. You cannot rush into it.

  14. I struggle with paralysis from analysis, and lack of confidence. I have an alright grasp on PA (need more though), I’m learning Candlestick formations, I am studying the news for impact and steering clear when necessary I have a preferred system for trading (ichimoku). I can learn fairly fast and comprehend what I learn I’m not impatient or foolish with money. I just can’t pull the trigger when I need to(gun shy?) I watch trades happen, instead of taking part. I’m stuck literally, and I just started. I read about people blowing accounts, their savings etc… and am in shock because of their over confidence. What can I do? Any thoughts would help, advice, whatever really. No need to shield feelings or anything.

    Thanks in advance
    Shawn

    1. Why not set a limit order and enter the trade automatically? Set the order, leave your computer, and come back when it triggers. To know when it triggers you can set up a price alarm or email alert.

      Another option is to start trading on a demo account first. Once you build a demo account up, create a SMALL live account with very little capital.

      Once you gain more confidence, add more capital.

  15. hi Nick

    I am really struggling with Forex and trading in general.
    I chop and change from one approach to another – from indicators to price action, from daily to intraday timescales and from forex to stocks. I seem to just want to find something that I feel comfortable with.

    Luckily I have not lost much money – I am cautious with amounts (money management is the only thing I am good at!) and so the cost of my trading experience over the past 4 years has been comparable with costs relating to a cheap hobby. However, it is the time that I have spent that makes my lack of progress more frustrating. I am very familiar with technical concepts

    What I have decided:

    1. I am going to focus on Forex only.
    2. I am going to focus on simple S/R with 8 hour charts (I like your comments around these and seem to suit my working day). I do worry about holding positions overnight
    3. I am going to start again with £1000 account and risk no more than 5% on each trade.

    Questions:
    1. Does your free course cover enough for me to trade with or do you need your advanced course?
    2. What does the advanced course offer and when are you opening it up next – I missed last email until it was too late :-(
    3. I have just downloaded your free book which gives great advice on forex correlation – something I had never considered.

    Any other advice greatly appreciated as I am close to giving this whole thing up but I just feel that it is something I need to overcome.

    Thanks
    Simon

    1. I think you have a pretty decent plan. Concentrating on 8 hour should provide you with a few traders per week. Focusing on SR should keep your trading simple and stress free.

      1. The free information on the site has enough for you to trade. The course is mostly about shortening the learning curve. Also, the main benefit of the course is the forum community. Hundreds of other traders trading the same strategy and sharing trades helps you to learn faster.

      2. The advanced course offers 4-5 hours of video explainign my strategy in detail. It also has the forum which I mentioned aboce.

      3. Glad you enjoyed the ebook, correlations are pretty important.

      Have you got a trading and money management plan in place? If not, you really need to do that before you begin trading again. It helps a lot!

      Nick

  16. Hi Nick,

    Thanks alot for the offer. I have been having some issues with price action. Is it possible for you to send ‘signals’ to me so that I can learn by example in real time how to take trades?

    Do you enter trades only at support and resistance levels when key price action candles form or do you also enter trade when price is still a long way from Support and Resistance based on candle shapes?

    Thanks

    Mubs

    1. Hi Mubs,

      I do not send signals, nor do I think they are helpful at all. You cannot learn anything from signals.

      I only enter at support and resistance areas.

  17. To many shiny “holy grail” promisses for a new trader. Hardest is to find a mentor that really walk the walk and talk the talk.

  18. An issue I have is entering trades early. and getting whipsawed, then being gunshy and missing good trades, or entering to late in the trend and end up with smaller profits on later and shorter swings.

    Thanks for the offer. Much appreciated

  19. Hi Nick

    In your trading experience what do you think was the eureka moment in your career that changed your switch from loser to winner. Also did you have close friends and family telling you to stop wasting your life gambling.

    1. I do not really think there was a eureka moment. It was mostly a slow grind, trying a lot of different things until something started working a little. When I found what started working I spent a year perfecting it, ironing out the kinks. I do not remember a point at which it all came together…. it was a slow process.

      I always had people telling me not to bother. When they see somebody stray from the pack and try to do something different their first reaction is to sabotage them. I never really let peoples pettiness and jealousy get in the way.

  20. Hi Nick
    Been struggling with time frame / news releases recently have a couple of quick questions if thats ok.

    Other than the Non farm payrolls data which usually means no trading that day,can you tell me which specific Red news releases you avoid trading through? or do you not trade through any of them? It seems on the higher time frame trades that you need to be clear for the whole week before trading that particular pair and with news releases being so frequent it seems iam effectivly barred from trading quite often- hence the question.
    As an example – Monday- trade set up identified 8hour / daily, Red news forcast for Thursday – so the trade might easily reach Thursday without hitting the profit target- so avoid the trade altogether? or trade knowing red news due thursday?
    I really enjoyed your recent webinar on trading higher time frames and it made a great deal of sense to me but the news is the one main point of concern.

    The other thing i wanted to ask was whether you source your original trading ideas on news sites such as Bloomberg and then look at price action analysis to support that idea or do you purely look at price action through your charts until you find a favorable set up?

    I hope i have been clear enough for you to understand my difficulty and greatly look forward to your reply. Many many thanks for taking the time for your response in anticipation.

    Kind regards
    Jeff

    1. Hi Jeff,

      I avoid all red reports that will impact the pair I am trading specifically. Here are a few examples.

      USD/JPY

      I would avoid trading this immediately before/after red USD or JPY news.

      AUD/USD

      I would avoid trading this immediately before/after red USD, AUD, NZD and Chinese news. This is because AUD is also affected by NZD and Chinese news.

      EUR/JPY

      I would avoid trading this immediately before/after USD, EUR and JPY news. Why USD? Well, USD has an impact on all pairs. EUR/JPY is just a cross of EUR/USD and USD/JPY so USD has an impact on EUR/JPY.

      As for the timing. I do not care if a news release is coming out in two days or two hours. As long as its not within thirty minutes of my trade…. I take the trade.

  21. I am not sure how to determine entry and exit points. How to read the chart to know when to enter the market.

  22. Hi Nick,
    Thanks for the opportunity to ask. I’m more or less familiar with your trading style.

    Which do yo find more reliable entry candles at support or resistance zones? Pin bars, Engulfing (Outside) candles, or Inside candles? Or something else?

    (Sorry if the terminology is not specific enough.)

    Thanks very much,
    Paul

    1. I do not really use the terms pin bar, engulfing, doji etc…. I just group all forms of indecision together and call it “indecision”. Indecision candles are simply a set of candles that show price is undecided.

      So, pin bars, morning stars, dojis, hammers…. these are all indecision candles.

      As for the most effective indecision, I would say a pin bar with with wick pointing in the same direction as the preceding trend. However, if you trade solely these candles you will not get very many trades.

  23. I have a query about entries. Is there some way to minimize the early drawdown/retrace that occurs whenever a trade is entered. I realize some of this is due to the bid/ask differential but I assume that this effect occurs very early in the trade. The “retrace” means that the trade goes into a loss immediately so do professional traders use any entry method or trick to minimize this effect. Thanks.

    1. It depends on a lot of things. Perhaps you are taking late entries? I often enter on a retrace in order to get a better risk to reward ratio.

      What strategy are you trading and what is your entry criteria? I need to know more before I can help.

  24. My problem is getting into a daily routine-where I can be consistent in what I do which will hopefully eventually lead to consistent results for me.

    1. Why are you having trouble getting into a daily routing?

      My advice would be to pick a few large time frames such as the 8hr, 12hr, and daily charts. Only check your charts every 8 hour when you candle is about to close. If you do this you will get into a routine.

      1. Check your charts and look for trades.
      2. If there are no trades check back in eight hours.

      Eight hours later.

      1. Check your charts and look for trades.
      2. Spot a set up and start planning your trade.
      3. Set chart alarms and enter the trade when it triggers.

  25. Please teach me to write a good (useable) trading plan. After 5 years of struggling, I still cannot write a trading plan

    Thanks

  26. Hi Nick,

    Thanks for your tutorials, it is really informative!

    I’m struggling with price action, I can’t seem to know when to enter trades or when to exit (ie to avoid pullbacks and going opposite my trade then loose money).

    I do the support/resistance work alright but don’t know if my timing is good?

    Thanks

    1. It is not only about support and resistance, you need to see indecision forming right on top of the support or resistance areas. Are you waiting for that?

  27. Hi Nick,

    I was considering purchasing your advanced course about two weeks ago and decided to hold off because of the limited time that the course is held open. Since life is extremely busy at the moment, I need a course to be flexible and accessible 24/7 since I travel a lot. I’m curious about the format. Am I missing something? Thank you.

    Brian Marquardt

    1. I think you are missing something. The course is always open to members. Once you become a member you have access to the course videos and to the live trading forum 24/7.

      When I “open ” the course, what I mean is that I am accepting new members. Normally I do not accept new members. However, for one week every 3-4 months I accept new members.

      Once you become a member the course is yours and it is always accessible.

  28. Hey Nick hope all is well. I got your email and would like to say that you have a very good course. I struggle with finding trades. I know you guys talk about them on the forum. The problem is that its usually its to late to get in. My question would be that what is the best times to be looking for these trade setups? Since I still work full time I struggle to find setups. your help with this matter is appreciated.
    Thanks

    1. Have you got a smart phone? If so you can simply set up charts on your smart phone and trade from work. You can also get email alerts to your phone form the forum.

      Most trades posted on the forum are posted a good 2-8 hours before they trigger. If the emails come through to your phone you should be able to read them.

      There are no best times to look for trades. London session tends to be more active…. but volatility fluctuates from week to week.

      1. Hi nick,

        I have mt4 app on my phone but cant set up charts as in reguar mt4. How are you setting up your charts on ypur phone?

        Thanks in advance.

  29. I’m a trend-trader, but am sick of missing great counter moves – can you successfully combine the two methods? How come you only trade counter- aren’t the biggest moves with the trend?

    Also, I’m spending way too much time watching the market- you say you only take a couple trades a week, how many hours roughly does this add up to?

    1. If you make 500 pips trading with the trend at £1 per pip and I make 5 pips trading counter trend at £1,000 per pip… I have made 10x more than you with less stress and in a shorter period of time.

      Obviously this is an extreme example… but it is valid.

      My trades have a tight stop and a target that is 2-4 times the size of the stop. The tight stops mean I keep risk very low while earning a fair bit per pip. So, if we had equal account sizes and equal money management rules. I would be earning significantly more per pip. You would not be able to match my £ per pip earnings as your stops need to be much larger.

      I do not care about “big moves”. I do not have any desire to waste my life in front of my charts trying to ride all the big trends. If I can make the same or a similar amount of money my taking quicker and more efficient trades… I will.

      My total time in trades each week is around twelve hours. My total time spent manually managing these trades is two hours. My total time spent on analysis weekly is five hours. So I would say I actively trade seven hours per week.

  30. I have a 6% profit target a week. Which I often hit and then walk away for the week. However, on losing weeks, (risking 2% a trade) during ranges or news related volatility I just keep trading and losing big. Do you have a cap on how much you can lose a week before you walk away?

    thanks,

    Jess

    1. Hi Jess, I do have a cap of three trades. If I lose three trades in a row I take the rest of the week off from trading. Having a cap like this is probably the only reason I ever became a successful trader. Otherwise I would have killed my account with losing streaks.

  31. Hello. My biggest problem is lack of patience. I get to my computer at 05:30 (+7GMT) and immediately want to begin trading on the 4hr. I will see potential reversals and pop to the 15min and see (almost willing it) it reversing. I need to find the patience to wait for the 08:00 candle, on the 4hr before taking the trade. I have to run my wife’s grocery store while she gets the kids away to school, cooks, cleans and her favorite past time…..fishing, so I’m on the computer all day until 22:00 (+7GMT). I’m getting up all day to run the cash register, deal with sales-people and restock the shelves and cooler………not to mention share beer and whiskey with customers in the evenings. I set my SL @ 100POINTS and often move it past the nearest Sup/Res line.
    I also have four trades going at once which I will now stop doing.

    What are your thoughts?

    1. You are doing a lot of things wrong. A one hundred pip stop loss is crazy on a four hour chart… there is no need for it.

      Reversals DO NOT WORK CONSISTENTLY in 15 minute charts. If you keep trading like that you will lose.

      I do not really know how you can become more patient. This is something you need to figure out for yourself. However, I would start by removing the 15m chart button from your time frame hot bar. This will force you to think before you switch to 15m instead of instinctively clicking the button.

  32. Hello Nick,

    I am Violet from India.

    I am struggling with forex and price action which I cannot understand.

    When I see the news I go to see the support and resistance lines. For eg. like S1 1.2500, S2 1.300 etc.

    When looking at the price levels giving on support and resistance I trade and I do profit.

    But there are times I just do not know what to do.

    I want to earn consistent profit like $20 per day. I have a live account with $500 and I have made profits. But then I get stuck and do not know what to do.

    Day after day I look and I see the price at the same level not changing.

    I want to trade with the support and resistance lines as I find price action difficult.

    Also you have any indicators to help me trade.

    You advice and guidance is much appreciated.

    Thanks
    Violet

    1. Support and resistance is price action. Pivot points are no really that useful, they are not a good form of support and resistance. I do not use indicators at all so i do not have any for you.

      I think this might not be the right site for you. I trade only price action, so if you do not want to trade price action, I cannot help much.

  33. Dear Nic
    Your effort to teach us price action has been appreciated. I have really followed it to the letter and can pretty much say that I am on the ball. I have read and studied also everything possible on candlestick analysis from especially Steve Nison and other guys.

    My question is. I want to meet with you in person sometime next year. I want to spend 2 weeks trading with you. There’s something about personal interaction I believe is a very vital part of success. its perhaps psychological but I would appreciate if I can have that opportunity. I am prepared to pay, no problem.

    Regards
    Lesley

  34. Hi, thank you for this opportunity
    Here are few questions

    1. What time frame you took
    2. What time you usually look at and think is profitable
    3. What strategy
    4. How many % risk involve in a trade
    5. Return % in a week?

    Thanks :D

    1. Kent – a lot of this info is FREE on this site. Take a look under the strategy and course menu items and also at the videos from Nick on YouTube (search under forex4noobs) . Hope this helps

  35. Hi Nick, I have been trying to join your Advance forex class for the past four years without no success it either the class is full when I want to register, or am broke when the class is open or maybe am finding it difficult to send the money through due to paypal restriction in my country. Nick can I join your class for free dead broke as it is now will pay you whne I have the money that the help I want and I owuld be glad if you can help me.

    1. You should email me next time the course is open and I will see what I can do. I am not accepting any new members at the moment though. Sorry…

  36. Hi Nick,

    I just wondered, do you determine what kind of market conditions are currently present for a currency pair?
    I think that more of my counter trend trades fail/succed depending on wether or not I’m going with the main trend, in case there is a trend and not a ranging condition.
    And one more if it’s ok: Aside from counter trend trades, are you still using other trading methods? (e.g. trendline bounces, scalp lines,..)

    So many posts already, hard to imagine you really wanna answer all of them ;), anyway, thanks for all the effort you put in the site and especially for all the information you share with us.

    Best wishes
    Stefan

    1. I do not mind trading counter to the main trend. As long as my targets are set right most of the counter trend trades are successful. A lot of it is about managing your trades effectively. Many times in the advanced course, me and the more experienced traders will make profit on a trade and newer traders will break even or lose money… this is because a trades success depends a lot on the person behind the screen managing the trade.

      If trading counter to the main trend is not working for you…. then you are doing something wrong with targets and trade management.

      I only trade reversals at the moment. There are plenty of reversal trades and they are very reliable. Reversals are the only thing I have trade that have worked consistently in all market conditions for ten years running.

  37. Sir

    You are right I am struggling in trade. I already bought your product. I have see your video and article, anyway still can get to trade. I am full time work, so I do part time trade, I like on 4hr time frame. I stay in Singapore so difference time with london time. Could you advice me what the right time for me in singapore to trade to match with london or US time. some time
    I already missed the signal formation, may be due to diference time to trade.

    could you add more advice or tips, I am retire soon so I hope I could be a good trader and make a living on it.

    thanks

    Cheers

    1. Get the forex clock off this site rabi or email me i have it im trying to get on his advanced course now but trading times there is a forex clock on here or i have a time table wrote out

  38. Hi, NIck,

    I have been following you for more than 2 years and found out that your price actions works. But I been often whipped out because of LONDON OPENING time retracement and then it goes back again following the original trade set-up.

    I have also followed 2 latests videos from you about placing S/R but have still not manage to master it. I used my time mainly for setting ip S/R.

    In the end I followed your S/R but it gets better, the main thing is that moxt of them are already outdated esp EUR/USD.

    Please advice

    1. I do not update SR very often as we do SR for a lot of pairs in the course. It becomes hard to manage the SR in the free section. I will update it soon.

      London open can be risky but it does not usually impact my trades that much. What percentage of your trades are killed my London open?

      1. Thanks for the response, Nick.
        I trade at Europe open and about 40% will be out due stop loss hit.
        Another watch and care is when US opens steps in.
        If you could give some tips on these matters.

  39. Hi Nick, im from Nigeria and have been demo trading using your price action method for the past 6 months. I have been able to score consistent profits and i feel im ready to go live. However i’ve heard countless horror stories of brokers hunting stop losses and profitable orders dissapearing. Please could you advice me on the best broker(s) for a novice trader? Many thanks.

    1. I would go with Dukascopy, Alpari, or pretyt much any broker that is Regulated in the UK or Switzerland. Other countries with good regulations include USA, Australia, and New Zealand.

      1. hi nick how much does your advanced course cost? Ive not traded live yet but i have done 8 hours a night learning im no expert still a begginer but evrey sheet i go to i seem to understand all the begginning courses ie candles patterns trend lines meanings resitance lines etc i wouod really like a go on your advanced and to open a live acount on demo i started with 20k i lost 500 (in first week for practise as went rocketing in on 10 trades per day) i then gainned back 1000 so i was 500 up im now 150 down but 350 up ive slowed my trades down to 3 practise a day but on a 5 min chart with the paranahs to get me used to it i dont want to pick up bad habits please can i get a price thnks

        Also on the BROKERS you have just picked what is the diffrence so if your in the uk and you use plus500? Do you still need a broker?

  40. Hi Nick,

    I’m currently on the waiting list for the advanced course. I have a full-time job as an auditor, and I often work 8:30AM-7:00PM EST (GMT +5). I can enter and monitor my trades at work on the 8 hour chart, but I probably wouldn’t be able to participate in your live trading rooms. Is this necessary to be successful with your strategy?

    1. There are no live trading rooms. If you mean the forum though…. it is no necessary and you do not have to take part in it. The forum will automatically email you any trades fellow members post. You can simply check out the emails and see what people are saying… you do not have to respond.

  41. Hi Nick

    Because you gave people this opportunity I would like to ask some questions:

    1. I call this one (Get rid off the problem of not trusting you) I have watched few of your webinars and they are one of my favourites but you still sell you system through them which is the down side, so it is always the case. Can you prove you are profitable trader and or the system is?

    2. Most of the traders from Market Wizards books say you have to find your own system (or develop it) which will work with your personality that leads me to the point how flexible is your system and what type of traders can use it?

    3. Last one so other people have a chance to ask as well. In your courses what exactly are you teaching and on what bases if it is still in place the money back guarantee you return money to them if the person isn’t satisfied with what you are offering on what bases is this decision made or how long is the money back guarantee for?

    1. 1. I do not really sell my system through my webinars. In fact, I try not to talk in detail about the course in my webinars. I am not sure how I can prove I am profitable…. but you can prove it for yourself. The advanced course is not essential to you becoming successful. Take all the free stuff and start trading the strategy actively… if it works for you than it is legitimate.

      2. The whole point of my strategy is to be flexible. It is designed from the ground up to be modified to your own style and personality. I actively encourage people to not copy me exactly…. I tell them to take what I teach them about price action and use it in a way that works best for them.

      3. I teach my price action strategy in the course and you get access to the live trading forum too. The money back guarantee is for 60 days and it can be for any reason. If you emailed me and said…

      “I got a paper cut from building paper air planes, now that my finger is wounded I can no longer click my mouse button…. this means I cannot enter trades any more. For this reason I would like a refund”

      I would still give you a refund right away…

      Well actually in that scenario I would ask if you were joking first. However, the point is I give refunds right away, I do not need a reason from you. If you ask for a refund within 60 days… you get a refund.

  42. I wanted to first say your videos have been some of the most insightful training I’ve seen, and I look forward to joining the advanced training! How do you determine if a trend will continue that is making higher highs, or lower lows, but has no support or resistance level? I’m not sure if I worded that correctly, so let me know if you need me to rephrase it.

    Thank you in advance

  43. Dear Nick,
    I have been following forex4noobs since about 2010. Good stuff, – but I am still trying to find that elusive consistency in winning deals. Paid a lot of money for seminars, know about most of the technicals and trade when they appear to indicate a trade. (support/resistance/trend/MAs/MACD/RSI/etc). I am wary of spending more money on ‘strategies’ but would willingly pay a % of successful months trading.

    I would welcome any summary of actions/wisdom to ensure wins are consistently more than losers.
    (I guess I am asking for the holy grail here)?

    Regards
    Dudley

    1. Dudley, what strategy are you trading at the moment. You listed a lot of indicators but I never sue indicators in my trading. If you want help trading indicators I cannot help you…. it is not my area of expertise.

  44. Hi Nick,

    i Just want to ask you whether the indecision candle has to have the upper wick longer than the previous candle to be a valid indecision candle? (say we are in uptrend)
    And second question: Is it possible to have different S/R zones due to time zones? My S/R zones differ from yours but seems to be working :)

    Thanks,

    Lukas

  45. How did you guess? I understand the system which worked very well when I started. As we all know, trading has changed and change must be expected. Currently losses outnumber profits.

    S&R is a very important part of this reversal trading but I now conclude that the absolute accuracy of the
    S&R zone may be of even greater importance unless a wide stop is acceptable. I have noticed that if a member suggests a possible setup in the forum I start to take notice of the S&R levels of other members if they do not agree.

    For this reason I tend to start with a Daily Chart (line initially then candles). This is because most of the posts on FX STREET

  46. This is tinkerbelle trying to complete my post.
    FX STREET and most others use daily charts almost to the exclusion of other time frames as the major FX institutions trade daily charts. Would it not be worthwhile to try S&R on a daily in black then move to an 8Hr time frame in another colour to compare these levels. Where any two levels are one and the same I assume that daily and 8Hr traders are buying/selling in the same zone with an improved expectation of success in todays market and thus a more accurate level of S&R.

    I have completed this on a EUR/USD pair and leave my levels below.
    1.37000: 1.36400: 1.35800: 1.35300: 1.34800: 1.34300: 1.33500: 1.32900: 1.32300: 1.31500: 1.31100: 1.29800: 1.28800: 1.28200: 1.26700: 1.25900: 1.25000.

    I may be wasting the time of all readers but for this I apologise in advance.

    1. Thanks a lot for sharing your way of doing it! I’m gonna try do the same and see if I can make anything out of it. I’ve also been having more losers than profitable trades since August I’d say.

  47. Hi Nick,
    I’m struggling with placing stop losses. Especially in deciding whether to place it (on a long trade) below the low of the indecision candle, below the support area or at another logical area (very rare). What are the factors that you consider when placing your stop loss, and which method do you typically use?

    Thanks a lot for all you give to us aspiring traders,

    Steven

  48. Hi Nick,

    Thanks for the opportunity! I have a few questions from things you mentioned in your last few webinars.

    You said that your strategy has been showing 10+ trades a week, and that you take 2-3 of those. How many pairs do you monitor to show those trades? Do you have an estimate of how much time per day or week you spend monitoring charts in order to achieve these results?

    When I last read your strategy section, you talked about keeping a stop loss of at least 25 pips. If I understand you correctly, you don’t keep to that rule of thumb in current low-volatility conditions. Instead you place your S/L just below/above indecision candle, or at the edge of the support/resistance area. Is this correct?

    In your Support/Resistance areas post, you mention putting the outside lines 5-15 pips away from the center line. I don’t have the experience to know which pairs should have a smaller S/R area, and which ones would have a larger. Can you offer some guidance on this?

    Also regarding S/R areas; the S/R center lines I place are often 10-20 pips different from yours. My candles are based on the NY market. Do S/R areas vary at all based on what times your candles start? I notice that I might place S/R differently based on the 8hr vs. 6hr chart, so thought maybe the candle start time makes a difference. That, or I’m still learning where best placement is :)

    A final question; what kind of account growth do you experience? Do you double your account every year? Every 6 months? I ask because I am looking forward to being able to draw income from forex, and am wondering what is realistic to expect if I am able to consistently trade profitably.

    Thanks again!

    Peter G

  49. Hi Nick,

    How can I know how much the retracement will move in the uptrend or downtrend. I’m plotting with 3 EMA lines to follow the trend. Still my trade got stop out sometime. How can I know is the market has stop retracing and it time for me to enter. Sometime I saw engulfing bar at the 1st EMA line and I enter the trade in the following opening candlestick but market retrace further to my second EMA line or even third EMA line that how I got stop out in the trade. Would you please advise me what is the best way to avoid and repeat the same mistake.
    Thanks so much.

  50. Hi Nick,

    I’ve been trying your strategy for a few months.
    In your videos, you often said that this strategy can give up to 10 entries/week.
    I watch around 10-12 pairs on all TF (4/6/8/12/24 hours), and usually can only spot around 3-4 trades/week (average).

    Did I miss a lot of trade? Or it’s because the current market condition?
    For example, the strong EUR drop and US rally makes some pairs (EUR/USD, USD/JPY, AUD/USD, etc.) are currently in “no man’s land”, where I can’t draw any S/R zone as the last time price in this zone was in 2007-2009.

    Thanks.

  51. Good evening Nick,

    Just a short note to thank you for your video seminars. I have gained a lot of knowledge watching them. When I regain my health in the spring (hopefully, this will be the outcome, as I just completed the 2nd cycle of six chemotherapy treatments for chronic lymphocytic leukemia) I will be able to become an advanced member and gain more knowledge about trading Forex. It is of great comfort to know that the younger generation can teach an old dog new tricks.

    Again, thanks so much for your sharing your knowledge, it has been a great help in understanding how to profitably trade Forex. God Bless.
    Jon Menke
    Bandon, Oregon, USA

  52. Hi Nick,

    you are trading without indicators, pure price action, so you need to analyze candelstick formations, before you trade. If I compared charts from different broker, there are big differencies. For example, on one chart I am seeing pin bar, but on other chart there is not pin bar. I compared for example instaforex, and oanda (live accounts). So how I can rely on some candles, when other traders could see something other?

  53. Hi Nick,

    I had involved in forex trading almost for 4 years.
    In the last 2 years I had focused in PA strategy, which was less stress as I was still trapped in routine job.
    Appreciate if I can learn & explore your PA strategy more.

    Thanks & Best Regards,

  54. Hi Nick,

    Thanks for all the information and videos – really interesting content!

    A couple of questions about S&R levels, if you don’t mind…

    – How often do you re-assess the location of your levels?

    – How do you go about doing this… Do you clear your charts and start from scratch, or do you just tweak the lines you’ve already got?

    – Sometimes when I’m looking for S&R levels, I’m not sure whether the lines I’m placing are just what you’d refer to as “minor S&R”, or a “proper” S&R level. What should I be looking for to differentiate minor / major S&R?

    Many thanks in advance – keep up the good work – hope to see you on the advanced forum next time a space crops up!

    – Chris

    1. I’m replying to show that I’m also struggling with how to sepparate minor S&R from the major ones. I’d love an updated webinar/video regarding how to place S&R!

      1. even though there is enough of really great videos about how to place S/R ..(thanks for them Nick…and thank you for all the help!!)..maybe we need video “how to NOT place S/R”….i have the same problem like guys above.. (several years)… still demo ..I cant move on…sry about my english ;)

  55. Nick,

    I’ve got question about indecision candle in your strategy.

    Let’s say, if a candle is 20 pips size, but the body is 10 pips, do you consider this an indecision candle? Is there any criteria, like the body must be < 50% of the candle size?

    Also, if the candle is very small, for example under 10 pips, is this also convincing to take a trade?

    Thank You.

  56. Hi Nick

    I currently have MT5 installed on my pc, can you suggest any trading platform that I can use on my ipad that will give me access to 6hr, 8hr and 12hr charts as I want to have a look at the charts during the day when I am at work.Would appreciate your help.

    Thanks

    1. Had the same problem but resolved it with downloading teamviewer on my computer and phone. Now I can log on to my computer to see the charts and enter trades on my MT platform.

      Hope this helps.

      Gr,

      Worm

    2. Hi buddy i would use team viewer to remotely control your computer from any device, its very good. You could also download the MT platform for the ipad. not sure if it supports your chosen charts tho.

  57. Hi nick, how do you spot SR these days when the volatility is changing and bars are longer/shorter comprared to the previous when you/us have drawn the Lines?

  58. Hi Nick,

    Thanks for the great information on this website. Just a quick question – what is the charting program you are using? I am currently using MT4, and none of my tools allow me to draw arrows/lines/coloured areas as freely as yourself.

    Kind regards,
    M

  59. Hello,

    Nick, I know you don’t enter a trade 30 minutes before and after major news announcement. But how about this situation: You’ve entered a trade few hours prior to news. But just few minutes before release, your open trade is in around -10 to +10 pips zone. What do you do? Do you:
    a/ close the trade
    b/ let the trade open
    c/ close the trade and re-entry if there is no impact from the news.
    As we know, there are a lot of “red news” that can suddenly move price 30 pips either way, so I already confuse of what to do during this situation.

    Appreciate your help.
    Thanks.

  60. Hi Nick!
    thanks lots for giving us a communication channel.

    Here goes.

    I work long hours, spend less than 1hr online to watch the charts.
    I am from Singapore +8 GMT and I find it difficult to spend 1 hr on the computer

    I tried setting up and following the sample trade plan, journal, to some fair success. but i have this nagging lack of confidence to go all out and make it.

    it’s just that i noticed it hard to find very ideal setups to place trades. My attention span is about 20-30mins and i considered going into 1 hr scalping but i remember about always switching techniques and the bad of it.

    So what and how should I go about preparing myself to trade Tues to Thurs? ( i avoid monday and friday)

    Do you have a “driving manual” to follow daily steps?
    Please help and thanks! I will not waste my time searching elsewhere :)

  61. hi nick how much does your advanced course cost? Ive not traded live yet but i have done 8 hours a night learning im no expert still a begginer but evrey sheet i go to i seem to understand all the begginning courses ie candles patterns trend lines meanings resitance lines etc i wouod really like a go on your advanced and to open a live acount on demo i started with 20k i lost 500 (in first week for practise as went rocketing in on 10 trades) i then gainned back 1000 so i was 500 up im now 150 down but 350 up ive slowed my trades down to 3 practise a day but on a 5 min chart with the paranahs to get me used to it i dont want to pick up bad habits please can i get a pricd thnks

  62. hi nick, id really love to enrol on your advanced course. i know your probably busy and flooded with questions everyday. Thats why id love to join your advanced community and teach myself your method.
    Let me know if this is possible as im eager and ready to sign up straight away :-)

    Thanks

  63. Hi
    I watched all of ur videos and found out that you trade on 8 hr time frame mostly. unfortunately, the MT4 doesn’t have 6hr and 8hr time frame available so i am wondering is there any solution for that.

    2) I am currently with AVAtrader as my broker and I realized their spread is kinda high at least 40 pips difffer from the market price. is that normal ? I need some advises and I am a beginner on forex.

    3) Any recommended broker for Canadian trader?

    Thank You So much.

  64. Thanks Nick for all of your great information.

    A couple of questions for you:

    – How do you determine your lot size? X% of your account balance?
    – How many concurrent trades will you make at the same time?

    Best regards,
    Brenden

  65. Hi Nick,

    you often say that you don’t use indicators. During some of my trades, indicators like the 100- or 200-day mvg as well as long term trendlines from daily or weekly charts tend to mess with my reversal trades, since price starts to struggle or reverse from them.
    Do you consider these kind of indicators in your trade setups, say not taking a trade or don’t you bother looking at them?

    Best regards
    Stefan

  66. Dear Nick,

    First of all, I would like to say thank you for the great work you are doing, I have learned a lot from your videos and I am really excited to join your webinar on November 24th.

    I have been trading for 7 months now, only on a demo account.
    I do not if I am ready for real money trading yet but I am defenitely close to it!

    Getting to the point now.
    I would like to ask about the correlation between currency pairs.

    I know some pairs are more correalated with each others, some are less. Like USD/CHF is basically the opposite of EUR/USD.

    Basically I got confused this morning because I went long on EUR/JPY and then short on EURUSD. On a strategy based on support/resistance.

    I have a little issue with timeframes too to be honest I cannot really determine wether I want to swing trade or day trade. Sometimes I am looking at 5m, 15m, 1h and set TP like i would swing trade. Real bad habbit i guess.

    Anyway you wrote I could ask you anything so if I simplify it I guess the question would be :
    When and where does the correalation really matter?

    Looking forward to your reply,
    Cheers from Poland !
    Lukas

  67. Hello, Nick.

    Thank you so much for sharing how you trade. It helps me a lot.

    My question is about how do you take losses.

    As it can be seen, there is 2 type of losses
    1) Unavoidable. It’s the matter of probability
    2) Avoidable. It’s when we don’t follow our trading plan or having emotional roller coaster during trade.

    How do you accept the unavoidable loss?

    Recently, I realized that whenever I follow my trading plan and the trade fail, I would panic and shout (internally). ‘How could this be? It should be perfect! I follow the plan and the money management!’ and I would freak out, lose my compose and change the strategy which ends up jumping from this strategy to another when there is mistake.

    Apparently, my mind still clinging on the thought of holy grail.

    If possible, could you beat me to sense?

    Thank you in advance.

    c1966

  68. hello nick

    tell me as a new trader what three pair can i trade including the gbp/aud and thanks for the 3 day price action challenge

  69. hi, I have recently started learning forex. I started demo and did not bad with it and so I move on to a real account. And with that I have lost 300$ recently. I don’t really know what I have done wrong tho. Is that anyway you can help me and earn back the 300$ and also teach me the proper way of trading forex so that I can continue to earn instead of losing all the times. Thanks

  70. Hi Nick,

    I have a good understanding of technicals as well a decent understanding of fundamentals but I continue to struggle. I have been on this trading journey for years and have learned a lot but have yet to be consistently profitable. I believe it is a mental/emotional problem, my family and friends have given up on me and this has affected my self-confidence in trading making me connect each win and lose with my self worth. Do you have any advice for someone struggling mentally?

    Thanks a lot

    1. Hi James
      I’ve had a similar problem and it’s kept me from trading for quite some time. The problem has been that I have felt bad about the trade I take and then I stop trading for a while. This even happened recently when I exited a trade too soon – and I ended up hating myself for it, even though I made a profit. I decided that I can’t let my emotions rule my trading. I’ve decided to just trade (on a demo account) and trade and trade – until I get that out of my system. My aim is to do 20 trades without stopping or giving up. Once I reach 20, I’ll increase it. I’m also not telling people that I trade anymore – it takes the pressure off. This is just for me alone – my own personal pursuit, for the time being. My goal is to really win that psychological battle within myself. If I make that my focus, and do that, then I know I can become a good trader. If my self worth is always going to be tied to my last win or loss then I think it’s going to be hard to trade effectively in the long term.

  71. i am looking at 2 forex charts from 2 different forex platforms,the 4hour eur/usd to be precise.they are both different.is there a scam going on in this industry that i should know?

    1. They are just brokers with different candle open times. If my candle opens at 1pm UK and yours at 2pm UK, my candle will look different. This is not the same as the time listed at the bottom of your chart, it is the actual candle open time. I suggest you find a GMT+2 broker, they are what most traders are using.

    1. You can’t. The Forex market does not work that way, it won’t serve up a consistent amount of profit daily. Forex trading is about waiting for trades, taking those trades, and following your trading plan. Sometimes I go two weeks with no trades, then I get 10 trades in one week. Sometimes I get three trades in a week and they are all losers, so I am negative for the week. These is no such thing as a consistent set profit in Forex. There is consistent profit, but that is consistent year to year, not day to day.

  72. Hello I want to know if a reversals usually occur after a non farm pay roll news? (I mean can i trade reversals for end of day after 5 minutes of the release of the non farm payroll report). Thanks

  73. Hi Nick

    I’ve searched on the web, and i can’t find details of how much good forex price action traders make.

    If they can only make, say 15% a year, then that could be good as extra income, but likely not to make a living (unless they already have a huge pile of money).

    So my question is not what a developing price action trader could make a year, not what extra income someone could make, not what someone *could* make a year trading price action, but what are the typical earnings (in a percentage range eg 15-25%) that experienced, full time price action traders make a year?

  74. HI, I am looking for some basic assistance in just being able to get in to FOREX. What I would like to find is someone that I can sit one and one with for maybe just an hour or two. Do you have any suggestions? I am in East Hartford Ct.

  75. hey, btw thanks a lot to teach us your strategy
    its very helpful to us.

    maybe its out of topic but i just wondering,

    what motivate you, to share your strategy & teaching us about price action? i would say its maybe take your time a lot to do that.

    thx

  76. Hi,

    Do you think price action reversal trades are more profitable/easier to trade compared to pullback trades in a trending market?
    What method do you use to get out of a winning trade. Do you scale back, set targets etc.

    Many thanks

    Glynn

  77. Hi there if I’m a day trader trading daily timeframe, should I care about the news release? Or just ignore it??

  78. hi

    i had just started my PA live trading.

    want to know is it possible to locate the prcise entry and exit ?

    i am using supply & demand, after breakout for entry, when will the best exist ?

    thanks

    Leslie

  79. i am trying to use 3 TF to setup a trade and when to enter a trade using a 5-11 ma on 4h 1h for setup and 15 minute for entry
    4 hour for direction
    1 hour for setup
    15 minute for entry

    use candle on 1 hour for stop loss
    1:2 or more for PL
    explain to me why I am doing wrong been stop out several times using this method on a mini account
    been setting SL @ 150 point above the candle 1 HR 1:2 PF

  80. Hi,
    I am a beginer in trade so I want a complete training in short period of time to excel in this field.
    Will you please tell me how and where to start? (Free sessions/seminars/stretgies if possible) .

  81. Hi Nick.

    Can I please ask you to assist me with a proper trading journal. I mean a journal that will move to constant profitable journey.

    Regards,
    Sipho

  82. Hi Nick,
    I love all your videos and lessons thanks for sharing. I hope you see this comment/question and give me a reply.
    Can you do a tutorial on how to adjust/set up and change the default to look like yours ? I love the charts you are using in all your webinars and analysis videos. They are very clean and simple. How did you adjust or set it up ? How to make your new set up as default for all the forex pairs ?
    I just open a demo acc with FxPro with CTrader platform, but since I’m a total noobs I don’t now how to use most of the menu it looks so confusing.

  83. Hey Nick

    I wanted to know which time is right for me. I know that larger time frames allows you to find trends and and smaller timeframes allows you to find good entries and exits, but the problem I run into is that the timeframes show different data and I get confused on which time I should focus on when I have an active trade on the line.

    1. With my strategy you should focus on whatever time frame you took the trade on. Focusing on smaller time frames will be confusing, and will likely cause you to exit before target is actually hit.

  84. HI NICK,
    CAN YOU EXPLAIN IN DETAIL HOW YOU TRADE BY SMART PHONE ONLY.
    ARE YOU USING THE TRADING VIEW SOFTWARE ON YOUR SMARTPHONE. I HAVE A TRIAL ACCT WITH THEM AND IT IS VERY LIMITED, I CAN’T KEEP THE HORIZONTAL LINES (SUPPORT AND RESISTANCE) ON THE SMART PHONE, BUT I CAN ON A LAPTOP COMPUTER. THIS MAY BE DUE TO THE TRIAL ONLY ACCT.
    THANKS RICHARD.

    1. I do not know about trial account limitations, so I cannot help, please contact tradingview support in regards to the support and resistance areas issue.

      Whats with the all caps?

      I may make a post about smartphone trading in future, but I cannot really explain this in a comment.

  85. Hi Nick
    Enjoying your site! I started learning trading PA with S+R back in about 2012, but had to give up in 2014 for various reasons, but I’m looking to get back into it and start learning again. I’m looking for someone to learn from who uses these same techniques which it seems you do.
    Anyway, my question is: have you had to adjust your strategy in anyway over the last couple of years? A lot of the people I used to follow have disappeared now and I don’t know why. Are these methods not as viable as they once were or have you had to adjust? Or is it as it always was – i.e. trading PA from good S+R areas still works when traded and managed correctly?
    Cheers!

    1. I have constantly refined my strategy over the years making it better, but there has been no major changes. Price action adapts to changing market conditions.

  86. Hello. And thank you for giving us the opportunity to ask questions. I do have a question that I was hoponf you could answer. During a trading session is it a rule that price will typicall not got to a previous high or low after its alrwady been there?

    Thank you so much for your time.

  87. Hi nick,

    i’m new here, i have 2 question always struggling me, hope can get answer from you here.

    1) how to confirm a real breakout of a support or resistance, how to trade breakout?

    2) how to find pair to trade with price action strategy, open all the 28 charts or any other way ?

    and last, i truly appreciated for this free forex course and it does helped .

  88. Ive been trading forex for about 5months now and almost blew my account but now iam starting to be more focus and more discipline…i have learn how to use your price action strategy and only now that its working….i have a day job and i want to ask….when is the right time to quit my day job and start doing this full time coz i leave in Namibia and my job pays an average of about $20.00 per and I feel that i can make more than that trading full time but i first neex to work on my consistancy

    1. I do not like telling people when they should quit their job. For one, making trading your main source of income is a very difficult thing to do. You will not have a steady income from trading. Some months your profits will be down, and then you will be left with no income. You need to be sure that you have something in place for when that happens. Aside from that, you need to be profitable, consistent, disciplined and you’re going to have to be able to deal with stress. You said you’ve only been trading for 5 months, and you almost blew your account. That is not a good base to quit your job for. First, improve your trading and try and generate a good amount of side income from it first.

  89. Dear sir,
    I am facing problem about drawing support resistance zone
    Can you please guide me about the drawing and how to use with multitimeframe.

  90. Hi. I am having trouble understanding how to use price action, reading the candle stick stories, and predicting the next candle. i

  91. what should I do to have a better understanding of price action. i have tried to read candle stick stories and I am not doing great with it. Presently making losses.

  92. How you going man?I know this is a couple of years too late but i’m really struggling. I’ve been trading for three years now. I’ve blown multiple accounts so i decided to go back to demo trading.Previously i wasn’t taking forex very seriously but now i am.I have a full trading plan,risk management plant,entry strategy….etc.Even with all of this for the past three months i have never even made a single profit and at this point it’s not even about profit i just want to my trade to at least hit take profit but i can’t seem to take a profitable trade to save my life.I trade using harmonics for the overall chart structure and trend, then i use price action to identify entry points,reversals and what not, which means my pairs take quite a long time for them to set up and even still i don’t get it right.Is there anything you could recommend for someone like me?

    1. I don’t trade using harmonics so I can’t really give you any advice on that. Have you been using that system for your entire trading career? If so, maybe they just don’t work for you. Have you trade using my strategy? It’s based on pure price action so you should be able to get the hang of it quite quickly with your experience. Start here : https://www.forex4noobs.com/forex-trading-strategy/. Good luck!

  93. Hello Nick. i have been watching your videos from last 1 week and it has helped me earn 900 Dollars . Previously i have lost around 8000 USD experimenting silly trades looking at videos. I want to learn more from you. Please guide me . i also want to join telegram community and everything that makes me close to learning from you. i have arranged 3000 USD for trading . i dont want to blow this up again. Please guide . i will learn sincerely . I promise. i need your help

  94. Hello Nick.U are doing great job.I love the simplicity and your way to how u are approach the markets.I would appreciate if u could help me to draw the S/R zones the right way.I always fail. Thank you.

  95. Hello. I have 2 questions.

    1.) Should I buy first before selling?

    2.) If the price drops, or the lines drops, should I sell or buy?

    Sorry for the questions, I’m just starting to trade. Thank you.

    1. Hi Daniel – I think you need to look up some basic videos on what the fundamental building blocks of forex trading are. You can make money by trading in either a sell or buy direction in Forex which is different than, say, stocks, where you can only make money when buying.