Staeggers Price-Action Trading
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thread: Staeggers Price-Action Trading

  1. #1

    Staeggers Price-Action Trading

    I've been trading FOREX for close to 2 decades now. I have a little background in trading commodity futures however I've made FOREX my house for the past 2 decades. I believe that this is the greatest job/business on the planet and what drew me to this company was a combination of financial factors as well as the desire to beat the market. I was excited when told of only a 5 percent success rate in this business so I took it up as an obstacle, I realized that even if it takes me 10 years to figure it out, the benefits from then on could be worth it.

    Obviously after a few blown accounts and sleepless nights, I think I've come up with a way to trade that has a fairly large success rate (I will not enter numbers). I mainly trade price action on hourly bars and also the duration of the trade is dependent upon a range of factors that I'll explain later.

    That I have resolved to make this into a diary so that I can keep an eye on my progress and those fantasies, they may follow along as well.

    Mainly, I put trades at 7pm new york time and/or 1am new york time to capture the openings of Asian and European markets. I believe that is the prime time to be trading and also the best chance of latching onto the start of a trend. The maximum trades onto a pair on a given day could be . Any more than just 3 trades onto a pair in a day means one is overtrading and overtrading is your surest way to kill your assurance as well as your account. I mostly trade EURUSD, GBPUSD, EURJPY, GBPJPY and occasionally AUDUSD.

    So let the games start and I will place my first commerce call on thursday evening about 7pm new york time. I will enter accepting profit and stop loss levels later.

    See you then and let the journey begin...

  2. #2
    thx for the analyse of eurgbp. I m brief eurusd out of 4060 waiting to get a close. Price broke low from 21. Jan, can it move lower? I plan to exit the 4000 aerea

  3. #3
    EURJPY S 127.65 out 35 of half remaining at b/e wow that was a quick fall

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    There were on great trades which I saw at european open now so did not post any.

  5. #5
    Two new trades...

    GBPUSD B 1.6129

    EURJPY B 127.69

    S/L are 30 pips off, that is what I am testing currently...

  6. #6
    Seems like we're done for the day. I will be putting up some charts tomorrow with some amounts to watch. I am looking for some folks to jump in here and add to the discussion. Thanks.

  7. #7
    New Trades

    B EURUSD 1.4159 S/L 20 pips
    B EURJPY 128.00 S/L 30 pips

  8. #8
    Please see the attached charts.

    I observe price action leading up to the Asian open at 7pm new york time. I then be certain the hourly bar opens and goes in my biased direction and then I enter into the direction of the fashion. The EURUSD trade was cut short because of a little compliments in the 100 ema. The EURJPY transaction was entered late and that has been entirely my fault. That should not happen again. Please comment and let us get this discussion going...

    So much all 6 transactions have been profitable but the RR has been significantly less than 1. That'll be fixed going forward. I am quite excited and looking forward to tonight.

    However if there is no interest in my thread going forward then I will be forced to shut down it since I'd hate to be screaming to an aether....


    About the MAs: The red is 21 ema. Gold 10 blue and ema is 100 ema. I do not trade crossovers or any such crap. I strictly and ONLY trade price action and apply the MA's as a guide to the fashion direction. BUT the price action resulting in my entry anything MA's is telling me. Please recall PA is king, choose it out of a guy who's been to hell and back...

    Along with the very unfortunate thing.... Both trades have struck on our tp's by now although I got out early. Oh well lesson learned but we'll be cautious regarding at least the 1:1 RR going forward, but trust me some transactions will bring you 4:1 as well as 5-6:1 but we just gotta be individual!

    I think we'll be in a lull until at least 12am new york so I'll check back then. Tonight should be a fantastic night. Let us hope so:$:Y:E

  9. #9
    Hello staegger,
    do u also utilize candle pattern such as , engulfing harami?
    How about RS from greater TFs like per week?

    Good trading,

  10. #10
    hi staegger,
    Trade: audusd brief on demoaccount using ure setup (I hope so) after reading this thread
    Reason, trade away from the ema(100) after neglect to earn a new high but break through the ema(21).

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