My Millionaire Goal

I’ve been reading through James16’s thread on Forex Factory… Like any normal human being, I’m not able to read through the entire thread… which as of now (31 May) is already 4343 pages long… So, I read the first 100 (?) pages and then went to read the more recent pages… A lot of newcomers will probably be confused by all the acronyms used by members of that thread… Thus I’ve decided to compile a list here…

1. DBHLC = Double High Lower Close
2. DBLHC = Double Low Higher Close
3. BUOVB = Bullish Outside Vertical Bar
4. BEOVB = Bearish Outside Vertical Bar
5. BRN = Big Round Numbers
6. PPZ = Price Pivot Zone (an area where support becomes resistance and vice versa)
7. IB4 = Inside Bar + Narrow Range 4 (http://www.trading-naked.com/insidebarNR4x.htm)
8. PB = Pin Bar (http://www.scribd.com/doc/192645/Pin-Bars-Introduction)

• If previous trend is too strong, never trade counter trend.
• Watch out for magnets nearby.
• If a candle largely overlaps with prior candles, it is not a valid signal.

I’ve been reading up on price action lately, and have experienced success with the technique… In fact, I like trading with price action, cause it finally made sense to me… I finally figured out what my edge is in trading… I always believe that if you do not know your edge, you will not succeed…

Anyway, I’m contemplating whether I should sign up for this course… Trading in the Buff.. It’s got pretty good review at forexpeacearmy.com and at $77, it’s definitely affordable… I guess I will sign up for it in the near future… but before that, I got to finish reading through other resources first…

For those of you interested, in addition to the Trading in the Buff course mentioned above, here are some useful resources on price action:

• James16 Price Action Thread on Forex Factory
  This thread is unbelievable. It first started on Jun 17, 2005 but till now, the thread is still pretty active. In fact, at this very moment, there are 75 traders viewing the thread. What more do I need to say?
• http://www.youtube.com/user/OzTrader?blend=2&ob=1
  A YouTube channel by Nial Fuller, for those of you who prefer to learn by watching.