Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Live Price Action Trades of the Week | Mar 8th
There seems to be some confusion out there, one that is being perpetuated, whereby you need to wait for days to capture a good trade, or at least 1+R. Where waiting for days on end means having ‘patience‘.
Don’t get me wrong, patience is highly useful for trading. Some people have full time jobs, with only a few hours available behind the charts. If that is you, then it’s probably best you trade daily and 4hr strategies, or lower time frame set and forget systems.
Regardless, this doesn’t mean you should be waiting for 1-2 weeks just to capture a measly 1R profit. And it certainly doesn’t mean you should be sitting for an entire week doing nothing, while perfectly good high quality trades are passing you by.
Every day, highly probable 1, 2, 3 and 4+R trades happen all the time, right in front of you. You just have to find them. And to find them requires proper training.
Here are some examples of students taking fantastic trades, capturing several R, trading the higher and lower time frames, yet not waiting days or weeks on end to make a good profit.
Here is a great 3P setup from our student who found an excellent accumulation pattern and intra-day bottoming before the Euro rocketed higher. Fantastic trade here that virtually never went negative.
Here one of our newer students was using our Shadow Models to capture a nice breakdown (before it happened) as the momentum was building towards the downside. Notice the exit which captured almost 90% of the move & pips available from entry to exit.
In this trade, while the pair was consolidating in a range, yet starting to build towards an upside move, they used our FPB setup, getting a fantastic entry, that never went negative. They hit their targets with an avg. +258 pips per lot, all while having less than a 63 pip stop and a +4.1R in two days.
Truly a great job spotting the trade, reading the price action & context, showing patience, and waiting for it to hit its final target. Excellent trading all around
Are you a pattern trader, who only waits for pin bars, engulfing bars and inside bars? If so, you would have missed all these trades.
Ask yourself, did you wait around all week not trading anything? Have you had to wait for days or weeks, just to capture a simple 1R which happens every day? How many of these trades did you spot, and how many 2, 3 or 4R trades did you capture this week?
Food for thought, but the difference between profiting from trades like these, and missing them completely all comes down to training.
Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.