Trading my Price Action strategy on past data webinar

Watch me trade my strategy on GBP/USD

Yesterday I held one of the most enjoyable webinars I have ever done. For the first time in a long time, I was nervous trading…

… I was trading my strategy live, in front of several hundred people.

I was trading on past data, but it was forward trading, and it was very nerve wracking. I trade alone every week, and I am never nervous, it is just routine; trading in front of an audience is a different story though, but it was so much fun that I will be doing it again soon.

Check out the webinar below.

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Feedback and Questions

If you have any feedback or questions, you can leave them below. I would love to hear what you though!

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64 thoughts on “Trading my Price Action strategy on past data webinar
  1. Could not watch it live due to my other “trading” endeavor(gambling in Las Vegas, lol!). Just watched the recording and believe it to be the most valuable training tool ever. This was truly amazing! Thanks for imparting your knowledge and your teaching methodology. I will watch it over and over until every nugget of info becomes a powerful part of my trading strategy.
    Nice!!

  2. Very useful Nick, to hear your thoughts as you decide wether to trade or not brings a sense of reality to the process, look forward to the next one

  3. Hi Nick,

    just to tell you these kind of webinars are great. And you did good :)

    Dont need to be nervous, I know people may expect you to hit every trade, but thats because they dont really understand how the market works.

    The other day I was reading a guy´s facebook and he said “I´m gonna delete every friend that only posts good trades and never bad ones… Oh wait, I wouldnt had any friends!” :)

    Its important to see trades failing and trades making 1:2 or 1:3.

    Well done, really enjoyed it.

    Best regards

  4. Thank you very much for all you do for people like myself, interested but due to age unable to be as quick as the younger generation and as such getting more and more behind.
    *Martin*

  5. Was great to watch Nick, please make sure you do more, very useful to see your thought process :)

  6. Hi Nick,

    Thank you for another great webinar. I enjoyed it and have learned from it.
    It is normal to be nervous before such a big event, but you did great.

    It was open, clear and understandable even for a beginner like myself.

    Please keep up this good webinars and explanation of you’re strategie and forex trading!

    Best regards
    Bas

    1. I never get nervous before webinars, this one was different though. I think i will be better for the next one, and I will definitely keep it up. I loved doing the webinar!

  7. Hi Nick

    Thanks for your time in puting together a very good, informative webinar.

    As a total beginner, hearing you talk through why or why not you would take a trade helps me understand the strategy better and understanding the importance of not complicating things, just keep it simple e.g. “Alway ask, who is in control”.

    Very much look forward to simpler webinars.

    Cheers
    Kerry

    1. I will make sure to talk more about “who is in control” in the next webinar, it is an important topic. Thanks for watching Kerry, glad you enjoyed the webinar!

  8. Hi Nick,

    You should a webinar like this soon. Support and Resistance is far better than indicators. I make more profit with support and resistance than using indicators.

    Thanks for sharing your knowledge.

    Regards,
    Dane

  9. thank you Nicky ;
    I attended to the free webinar about 6 months ago after That i use your strategy with mine (Combo) and the result talk about it self I doubled my account thank you nick a gain I’m sorry my English is weak I’m not a native

      1. Hello Paul , it’s very simple supply and demand zone continuation pattern plus Nick strategy (I became trade Both Sides of market) don’t forget psychology

        1. Hi again,

          Thank you for your reply! In fact I do exactly the same and was just curious to know if the combos were the same =)

  10. Hi Nick – saw video – very good; also good idea to turn off Qs. The only small negative of some of your webinars is that you get distracted a lot by the Qs. Much better like this!

    Thanks a lot

    Jeff

  11. I truly enjoyed your webinar. I am a newbie, just learning Forex trading. I will have to acquire more training though before I put my feet in the water but thanks for your time I will continue to follow you

  12. Nick,

    I know you didnt talk money management here, but in watching your other videos I have a question.

    I always do 2:1 for profit….if I am going for more I liquidate 1/2 at 2:1 and move the stop to 1:1. If I feel iffy on a trade I move stop to breakeven after 1:1 and let it go.

    I do all this so my losers can outnumber my winners and still preserve capital and most times make money in that situation.

    Example 10 trades, 2 lots LLLWLLWWLW…4 wins 6 losses….losses=12lots wins= 16…thats just a number not managing trades that are going south…thats putting them on and forgetting about them.

    When I see in your videos that you manage trades at 1:1 buy cutting in 1/2 to lock in some profit bringing the stop to break even doesnt that skew the profit percentage against you?

    For example…..you were willing to lose 4 lots, but took profit at : of 2 lots then trade goes south for breakeven. Sure, you made money, but if it had gone south right off the bat you would have lost 4 lots….so really your risk reward was 2:1 against you.

    In my opinion, and admittedly it is a novice opinion as far as trading, but mathmatically, wouldnt you have been better off letting all lots run for the 2:1 profit target and just brought the breakeven for the stop after 1:1 when you have doubt?

    I understand you make money or you wouldnt be here, but this is what I used to do in a demo account and it blew up.

    1. Just want you to know, I am not ignoring your question. I am just a little busy right now and I cannot craft a full response. I will respond tomorrow.

  13. Great webinar as always. Your total honesty never ceases to amaze me. Thanks for putting out so much free content all the time.

  14. Hi Nick,
    thanks for the webinar. As someone new to Forex it was specifically very helpful for these reasons.

    1) Stop placement, seeing and having explained the logic of why, great stuff

    2) Position sizing, well explained and a good guide for future trading.

    3) Preceding trades, was a new concept but can see it’s importance.

    Definitely turnoff the questions they do appear to be very distracting, answer them later. Also if your

    not comfortable taking a trade, just say it isn’t how u trade.

    For unanswered questions perhaps direct viewers to articles you may have written, or write an article

    discussing the question.

    Looking forward to your next webinar.

    Cheers,

    Bruce

    1. Thanks for watching. I am glad the position sizing helped you. It is something I have never really thought to show in a webinar because I assumed that everybody did it.

  15. Thank you so much for the time than you give to us Nick.

    I have some years follow you and i appreciate all your effort to teach about trading in FOREX.

    Best Regards

  16. Hi Nick,

    Just to summarize this presentation.

    From 1st January to the present day you identified 6 trades of which 3 were losers.

    How could anyone possibly making money following your advice?

    6 trades in 5 months????

    WTF

    You’re a joke.

    1. Well, that was rude…

      I took six trades on one pair, using only three time frames. Whereas, in my real trading, I trade ten pairs, and I use six time frames. I will let you do the math and figure out how many trades that comes out to on average.

      In the webinar, I traded a single pair, so that I could trade through things quickly. It is very inefficient trading more than one pair in Forex Tester 2.

      The trades I took were 2:1 risk reward or more. So, even though I lost half, I was profitable. However, I actually said several times that I was taking a bad trade intentionally. The point of this webinar was to show people how to identify good trades vs. bad trades. Do you understand how risk to reward ratio works?

      Honestly, I do not think you actually understand how Forex works…

        1. Haha, so true! Not just that, it’s a waste of his time, really. They just seem to try to call him out on things that aren’t true, and just make themselves look even worse!

      1. He definitely flicked through it. The other day, he skim read my analysis and made a post saying

        “How are we supposed to trade this information?”

        Despite the fact that the second paragraph explained to him, in detail, where to find information on my strategy.

        People like him do this all the time. They skim read/watch things and then they cry that they do not understand it…

        … Or they make fools of themselves like he has done above.

    2. Did you even listen to anything said at the start of the webinar? He said he was going to do BOTH bad and good trades, and explain to people why they were bad/good. This isn’t a show off of how good of a trader he is… Not just that, this video is only showing ONE PAIR. I doubt he only trades one pair !

      Think you’re the joke here.

    3. If Nick lost 6 our of 10 trades he would still be in profit because he was earning twice as much on winners as he was losing on losers.

      6 loses at £100 per loss = -£600
      4 wins at £200 per win = £800

      -£600 + £800 = £200

      Learn to trade Steve

    4. Hey Steve,

      Man! If you do not have enough neurons to understand what Nick was teaching you in his webinar, you better switch to something else. Or simply just don’t waste your precious time watching…

  17. Hi Nick,

    Thanks for the webinar, good education and thought patterns live from you via the microphone .

    Best regards

    Roger

  18. Hi Nick,

    Great webinar, your transparency in everything you do is a real credit to you. Your damned if you do and damned if you don’t regarding trade wins in the webinar. If you won all the trades people would say you looked at the data and if you lost people would criticize your method.

    Have just been updating my lines on various pairs, quite a few of them seem to be near big round numbers. If you find a zone that’s just below or above would you just put it at the round number or put it where it fits in with past data?

    Many thanks,

    1. Gareth, I want to thank you for this comment. It really changed my perspective on the small number of negative comments I have received. Even though 95% of the feedback is positive, I have had a few nasty emails and comments that really got me down.

      I tend to want to please everyone, when I hear somebody is not happy with my webinar, it makes me sad.

      However, your comment really helped me understand that I cannot keep everyone happy…

      If I lose 50% of trades, people say “Your strategy sucks, you are a joke.”

      If I win 90% of trades, people say “This is all rigged, you knew what trades to take.”

      In the end, some people are going to hate me no matter what I do. So I should let them hate me and move on :)

      Now, to answer your question. I just put my support and resistance areas where they fit best. However, let’s say I have resistance at 1.0020 and indecision forms at 1.0000… I would likely trade that indecision candle at 1.0000

      1. Thanks for your help Nick, that clears things up.

        To the negative people we can just let them go on aimlessly searching for the holy grail that wins 100%, it surely exists, it must do? Maybe they could try a moving average crossover strategy, I hear they’re great….

        Have a good trading week,

        Regards,

  19. Hi Nick.

    I just post to increase that 95% of the positive feedback.
    leaving the Q&A to the end (without showing the chat window) was fantastic.
    ¡What a nice webinar! ¡Keep it up!
    I really appreciate the time you spend with us. Thanks a lot.

    Alfredo

  20. Hi Nick,

    Congratulations and thanks for a great webinar. Sorry to hear you got some bad responses also. I can understand if it puts you down after you put so much work and effort into it. Thanks again.

    Just one question. In the webinar you talk about good free alternative for ForexTester. I haven’t been able to find them, can you give some names ?

    Regards,

    Jan

    1. I had a look at a bunch of alternatives and couldn’t find anything worth getting as well. I think I might purchase Forex Tester 2, looks to be a great tool!

  21. Hi Nick! Do you post anywhere like ForexFactory? I know you don’t trade everyday (as you’ve mentioned in your videos) but maybe you write your thoughts on market move. Yesterday for example there was no major statistics published but EUR moved more than 250 high engulfing last week drop during the NFP. I really don’t understand what’s going on and to trade such because there were so many false reverse patterns.

  22. Hi Nick,

    Thanks so much for all your efforts and the time you put aside for all of us. It’s much appreciated.

    I stumbled upon your site a few years back after wiping out my account during my first go at Forex. At that time I didn’t even know what a stop loss was, and hence things went down hill pretty rapidly. I have since used your price action strategies and have had periods of really good success.

    Nick, I was just wondering if you could give me or other readers who may have similar experiences any input on this?

    I have noticed with most of my trade setups that I get a nice push of 40 pips, and then a correction/reversal which either takes me out or ends up with a break even or small profit. It seems that during reversals the market moves about 40 pips or so and then goes into a correction phrase (not always), before a possible push lower/higher. If I go for a 1:1 risk reward I sometimes reach my profit target, but if I go for more favorable ratios I often get stopped. After being in profit 40 pips and then breaking even, it’s pretty frustrating.

    Looking back at earlier years, for example 2008/09, you would often get more defined moves – sometimes 100 – 150 pip moves on reversals or breakouts before any type of significant resistance, and this would allow you to achieve your 1:1, 1:2 or even 1:3 RR, but these days the market behaving the same way.

    Nick, what are you feelings about setting higher risk/reward ratios (50 pips of risk to 40 of reward for example) to ensure you lock in profits? I know this goes against what you teach, but I’m curious on your thoughts. It’s frustrating being up 40 pips and then losing it all because of set risk-reward principles. I know you sometimes like to close half of your position to lock in profits.

    Cheers and thanks again,

    Steve

  23. Hi Nick, Good afternoon.

    Have been away for a week or two and have only just watched the live trading webinar.
    Just like to add my thanks for an excellent webinar – well conducted and extremely helpful and has high -lighted a few areas where I can really improve (notably stop loss placement and trading ratios).
    I am really looking forward to the next one!

    One question if you could help me please. What is the technique for taking a profit at half way to target? On a number of occasions I have had a trade running and then returned to my pc to find the trade had got approx 70% of the way and then retraced and taken me out. Any guidance would be much appreciated. Many thanks.

    Kind regards

    Graham

  24. Great Webinar Nick thank you.

    Has anyone managed to find a good free ALTERNATIVE to Forex Tester which we can try? I’ve looked hard but can’t seem to find anything similar.

    Thanks for your help in advance!

    Oliver

  25. Hi form Brazil, Nick

    Tip-top webinar. If anyone wants to trade the simple but wise way, go your way. I for one am incorporating it without a question into my daily edge. Must watch and practice it a lot more more though to call it my second nature.

    God bless you, Nick.

  26. thanks Nick, a great webinar!
    I have just joined your site and love how you simplify what was previously bogged down in ‘confusing and overwhelming’ – you’ve given me hope again that even at my ripe old age of ** I CAN do this!
    Looking forward to your next advanced course.
    Samantha

  27. Hi Nick,

    I am a total beginner just starting out on this hopefully incredible journey exploring the vast world of Forex. Just want to say that your videos and website have been INCREDIBLY HELPFUL in kickstarting my journey. Please continue to produce more of this whenever you are free. I have liked and subscribed to your channel and will continue supporting kind people like you who are so generous in sharing your wisdom. Thank you and god bless.

    Best,
    Ryan,
    Your Asian Fan

  28. Excellent job Nick. I wish I was able to watch it live but still, it is a very good resource to watch the recording. The trade you entered on about the 19th Mar which was a loser would have been a “no trade” if you had put the SL above the previous High on about the 28th Feb. (the R:R would have been bad). Would you have done this if it wasn’t a webinar?
    Thanks again Nick. you cleared up a few questions for me.