AUDJPY Daily Long - "Live" Forex Price Action Trading

This video is a 'live' trading video of a recent long AUDJPY trade I took on the daily chart. I trade Forex using price action. You can learn more by watching my other videos or by going to my website. Price Action Trading learn more at www.love-the-pips.com Forex and Equity Index Trading Signals www.love-the-pips.com

Comments

1. i hope you moved out of FXCM..
2. Hi Sam
   
   thanks for your videos. I'm new to trading and forex. Just reading at this stage.
   
   About 6 mins in to your video you went long on the aussie dollar against JPY. Would you please explain why you thought the security was going to break through the resistance and not just continue ranging?
   
   Many thanks
   matt
3. what broker do you use?
4. Appreciate your taking the time to answer them. Anyway, don't you think aiming for 1:10 on the hourly chart is a key reason for having a low win ratio on that time frame. How often would you get a 20 pip stop and a 200 gain? Then again, the key might be the really few big gains that offset the many losers. I noticed quite a lot of successful traders take this approach. How long does your typical trade on the hourly take before it reaches profit target? On the bigger time frames on which you say you have over 60% winning ratio, how big is the typical RR? What's your typical stop loss on a larger time frame and the hourly time frame. I know it depends on the chart setup but roughly how much on average is it. On the hourly setup, are you waiting for the key support and resistance levels to approach before taking a position? I am finding it hard to grasp how one could get set a 1:10 RR on the hourly chart if they are using support and resistance on that time frame as well. Surely you must use daily support and resistance but be entering on the hourly. Thanks again
5. Hi Sam, Thanks for your videos. Your videos are are concise and easy to grasp. I have a few questions for you though. Hope you can take a bit of time to reply to each one. Thanks
   
   1) You say you trade the five minute FTSE chart, is this based on using signals. Do you pay much attention to support and resistance on a five minute chart, or do you simply trade purely on signals? Do you use 1:1 RR with your FTSE trades.
   
   2) I notice you say you trade the hourly chart with Forex much of the time. Do you use support and resistance based on the hour chart or do you use support and resistance on the daily when trading the hourly? Don't you think achieving 1:3 RR is very difficult with the hourly. The number of times a trade has gone 30 pips or thereabouts in my favour before coming to hit my stop (which by now has usually been moved to break even) is very frustrating.
   
   3) I noticed you say you only have around 50% winning trades overall. Isn't this a bit on the low side. Should't you be improving your entry to attain higher number of winner. Although, if you're winning trades are on the whole much bigger than your losing ones then I suppose it doesn't matter at all.
   
   4) Do you try to specialise on a few selected forex pairs or do you scan many pairs to trade?
   
   5) How often would you say you get trade signals on the hourly forex?
   
   6) How many open positions might you have open at any one time? Do you like to hold one forex position at any one time or is it something you don't really care as long as you have strong signals on different pairs and therefore willing to open several (if conditions allow).
   
   7) I am a big believer in horizontal support and resistance but not so keep on trending support and resistance (the diagonal). I think they often look good after the even because yore able to adapt the trending line. But so often the trades go through the signal trendlines on a regular basis, the trader then edits that line to join up the new highs or lows. This looks great in hindsight.
   
   8) Do you use moving average on your hourly chart. How much emphasis do you put on a moving average. I hear many people say any time a price bounces off a moving average it is more coincidence than anything else, unless it's an important moving average like the 200 on a daily chart. Anything else, it's more coincidence than anything.
   
   Appreciate it. Thanks again
6. Brother, you are great, keep helping us with more useful videos and full details.
7. hi Simon. what book would you recommend me to read about forex trading. im new on this but i would like to know more about it. btw great videos and excellent explanation
8. Hey Sam do you incorporate news into your trading. If so how much ?