Forex Price Levels - Way Better Off Without Them

[@danstone3673]

Price levels...man, I remember this from awhile back when every mentor/expert/trainer/guru would extoll the virtue of the "PRICE LEVEL", like it was some holy shit not be screwed with. "Lookit here Scout...it's gonna hit 1.30 and bounce...unless it doesn't and breaks through." WTF? Thanks for nothing, Sparky. I once made the mistake of questioning the man behind the curtain by asking him why price would respect any particular spot in front of a crowd. Why not here? Why not there? I was channeling George Carlin or maybe Dr. Seuss, so of course I kept needling him about it when he finally pointed a finger at me and asked that I refrain from asking further questions. Pretty soon, others were asking the same thing. Maybe it wasn't a mistake. I got my money back from him and was politely asked not to sign up for any more of his courses. I guess there was truth to why it never made sense to me....thanks for validating that notion, VP.

[@ValwithaVee]

Your channel is like an online course. It's so educative and motivational.

[@j.abdulaziz5645]

It IS an online course if you view the information sequentially, take written notes and apply the information!

[@thisisfreepy]

No cap man✔️

[@stanbrinkhuis1053]

I'am a simple man, if Vp says "don't use it" I don't use it.

[@sparcx86channel42]

you can try it and see that it didn't again.

[@abhishekghimire9098]

I at least try everything just once, cause i am a begineer. just to have a look on how hilarious that actually isb

[@paulbucklebuckle4921]

Simples.

[@morenalephoto5492]

.hey man William here from south africa so ive started to put in the work and im getting there

[@florinchimichanga1314]

how could someone disagree with you when you present facts with logic, best channnel tho

[@fish4everguy]

Price levels... for me another line in the sand of a reversal or support/resistance that makes no sense with currencies. Now sitting at 9 pages of notes, screen shots, bullet points, and my short list of indicators. This is the trading education I wish I had gotten 20 years ago when I first started trading stocks and realized I was way better at investing long term than short term trading. If I had only learned the value of good indicators and how to find them, money management and learned to control emotions and psychology back then....well water under the bridge. Back at it now with FX and soaking up VP's advice and teaching from experience. He makes so much intuitive sense if you just come at this with an open mind and stop holding on to methods that never worked that well in the first place and are willing to put in some effort to build your own system. This is the way!

[@billybigboll2885]

How's everything going now? Did you get your algo sorted out?

[@edgarvergara6017]

Thank you for your time and effort to give such great lectures about money management and how to look things from different perspective by doing what we do but removing so many noises that led to losses. Well done

[@pawelmichalowski7043]

The idea is to use an alignment of few different indications pointing to the same conclusion ... price levels do work in proper context ... I have a very successful strategy (86%) involving price levels, 50 SMA and a fast stochastic with Fibonacci for setting targets ... alone all these tools are useless that's true but together they can act just like an algorithm VP is helping you build in one of his videos ...

[@theforexcodes8133]

Exactly, you have to find out what works for you and in what context they work.

[@sparcx86channel42]

I think the secret sauce is the 50 SMA get rid of the baseline and your strategy won't work anymore.

[@RelationshipMatter]

VP, I personally say thank you for all your experiences being shared on this channel. I'm actually new in this channel; that's 2 days ago, but I've watched and taken notes on over 8 videos from you. I've subscribed and must complete the rest of the videos and podcasts in a short while. Honestly I don't feel like watching forex video tutorials from other channels because I believe you are unmasking the whole truth about forex. In most of your videos you advised to avoid using almost all the indicators which most channel ranked the best... Anyway I don't wanna be where the popular kids are, that's why I'm here hoping that you'll one day lead us to were we gonna celebrate together... Thanks, bro.

[@billybigboll2885]

Did you get where you wanted to get to?

[@diyanpw6491]

Most underrated Forex education on YT , keep deliver to us VP , cheers ;)

[@adammmaforex1540]

This is how I once blew my account trusting a sacred price level (also very, very bad money management), thanks for another great video, Dennis 👊🏽

[@AC-pn4tk]

Price levels always seemed made up to me. I liked indicators the best so I was stoked when I found this channel. The best by far 👍Thanks VP!

[@chris8534]

This was better than the big banks video - talking about what they are doing with the stop losses was great

[@RavenR6ix]

Honestly thank you so much for your videos! The fact that you don't give out your exact strategy already tells me that you truly want to help us learn and find our own way. I kept going back to these gurus and testing their strategies (thank God I didnt pay for any of that bs) and kept saying but none of these actually work.. does no one see this but me ??.. the indicators would always get me in late and the price levels, sup/resist was always subjective..and I thought am I missing something? But I kept thinking maybe its just me cause I'm starting off and I have no idea so these guys must be right. But your videos and your straight to the point answers confirmed what I was thinking and gave me confidence to actually explore what I wanted to do initially, which was throw away all the shit I learned and just create my own way of doing things. Anyway just wanted to say thanks so much, your vids and blog seem to be genuine.

[@Aiva33aiva]

Thank you for your time VP! Much appreciated:)

[@DJGOULDING]

VP: "they don't work". Me: "But... they do?" My strategy on the 2 levels you drew would have done 7/9 success (7% return). And you don't usually draw them all, only the ones that are currently relevant. This can vary from trader to trader but that is okay as long as there is a valid reason to pick them (not just because it has 2 zeros at the end). What levels are relevant changes on any given time too, it adapts to what is going on now. I'm guessing you simply didn't learn to use them the right way VP? maybe it's because you're style is so different :)

[@alfonso87ful]

In my 8 months of learning the price level thing seemed so stupid to me.. half the darn chart is at a price level

[@12jmlnv7]

I developed my own algo that generates price levels. It has nothing to do with the dollar amount or other conventional methods. And it takes weeks to set up. Its meant to catch reversals after a long trend. From a ton of developing,analyzing, and bactesting, I can say that there will never be an indicator or system to exactly pinpoint reversals consistently. With my system, there are times when price turns on a dime.There are times whe price barely nib at my first level before reversimg.there are times when price consolidate at my levels. Sometimes but rarely it continues through but when it does, it usually bounces back up and if it dont bounce, that just tells me that there is still some work to do before reversing. I agree that the way most people use levels are bs because they are all using the same methods.Even if you craft the perfect system to call reversals, you can be right overall, but you're timing can be off because price may intend to reverse, just not at that exact level.

[@ezbecks]

watching all your videos. discovered your channel 5 days ago, and I just wanted to say that youre the best. :)

[@petereastman2663]

I decided "Psychological Levels" are only in the eyes of the beholder. Been there, done that.

[@AB-lf6gl]

The intro is legendary 😂😂

[@alzachary789]

Noted on this VP! Thank you!

[@prdood01]

I agree with you completely. But, there's also Quarters Theory, Ilian Yotov (no attachment of any kind) has a take that works. He also would agree with you.

[@sparcx86channel42]

I always knew that didn't make sense but still watched the video because there are something to be listened here. I just confirmed that this thing never works.

[@moshemo613]

The tutorials I've seen take a different approach on price level. They don't argue that EVERY potential price level is worth considering, but rather try to find the TEMPORARY price level at THIS PARTICULAR MOMENT. In your example, there was one level that price was bouncing around a few times. Yes, it went a little higher and a little lower, but the bounce is there. The real question is where we can then use this DISCOVERED price level to help us get in our out of profitable trades. Maybe yes, maybe no. But that doesn't change the fact that the price level in your example was discoverable.

[@NoNonsenseForex]

You're not wrong at all, I've seen a few of them as well. Even at more advanced levels though, you're still trying to predict trader psychology, which would drive me nuts. I would much rather have something that gives you a definitive signal like we do here.

[@moshemo613]

@@NoNonsenseForex I agree -- I would definitely prefer a definitive signal.

[@moshemo613]

@@NoNonsenseForex P.S. Thanks for all of these videos :)

[@carlcram1717]

Love this channel, a real eye opener and I thank you sincerely!

[@jordancarson885]

I really respect how you use live charts and not "cherry picked" ones, that's what I'm looking for

[@einsenhorewinquist1894]

Very good point. I love all your videos! I think these price levels make more sense in other markets, don't they? Like, BTC reaching $100,000 per coin would be much more significant than EUR/USD at 1.20 would (especially after a massive bull run). The last Bitcoin ATH during 2017 bull market was at $20,000 by the way.

[@NoNonsenseForex]

It would be yeah, because it's still new and gaining adoption, so those levels are perceived as milestones, where in FX they would not be.

[@einsenhorewinquist1894]

@@NoNonsenseForex Lol you answered me on a sunday, that's cool. If you have time, I have another question about money management. Thanks to the cryptos, I made x20 and now I have around € 862,000. I have around 300k € in crypto left, I have scaled out around 500,000 €. Now I am interested in Forex because it is Recession Proof as you said and the bull run on cryptos will be over probably 1 year from now. I placed 100k euros in the Gold, I have 400k left. Does having a capital of 200k € make sense? 2% of 200k = 4000 € per trade is a lot, isn't it? The 2% rule applies to any capital regardless of its value in your opinion? I think you chose 2% because the majority of people don't even have 6 figures, right? Thanks for your time. And yes, I know you are not an investment advisor, I am an adult who is responsible for his failures and his successes. it's just to see what you think. Have a great Sunday! Sorry for the English mistakes, greetings from Paris 😄

[@kennethfernandez5688]

almost done with all the videos you made. Thank you VP. Just wondering, if you have a low starting budget, it means you have less to risk right? I don't think with the money I got I can trade on the daily chart. The ATR is too high for me and my 2% risk is not enough so I just trade in lower timeframe. Is that bad? Hopefully you can read this.

[@NoNonsenseForex]

Episode 33 of the podcast I think is what you want. "Trading smaller accounts" or something like that.

[@hunter4243]

A lot of banks and companies with big pockets conduct business at these price points. The institutions who have the money to move price will disrupt price at these levels when they are doing their business whether that is buying or selling. This doesn’t mean you should short or long the level. You can use it for projections of the daily high/low or profit targets etc. If price trades to it and rejects you could wait for further confirmation and then enter a trade. If you are blindly longing and shorting price at these levels of course it isn’t going to “work”. Also you are on a daily chart which is a little bit ridiculous when looking for reactions at these points.

[@NoNonsenseForex]

You would have to have a reasonable idea of what those levels are for it to have any impact, and we don't. Better off avoided.

[@hunter4243]

@@NoNonsenseForex Yeah for sure, if you don’t have the insight then they are almost useless. I have found a way to use them that benefits me and works for me but everyone is different and there is no real black and white approach to trading.

[@dustin.barrett]

It is so hard to know what to do and what not to do. There are "experts" that say "Don't use indicators" and then "experts" that say "indicators are the best". Then people that say "Support/Resistance and trendlines are the best" and others that say "support/resistance and trendlines don't matter" How do we know who to listen to. Not saying I disagree with you, (I don't) but how do people know who to listen to?

[@NoNonsenseForex]

I suppose you don't ever really know. Find somebody you vibe with, test out what they say to do (on demo so you don't lose your ass), and see what happens.

[@dakaodo]

Buyer beware -- hear each source out, and judge for yourself. Context is really important. In this case, timeframes matter tremendously for price levels. VP lays out a lot of really useful lessons and points that debunk the blind conventional wisdom and get-rich-easy mentors, but at the risk of sounding arrogant, I disagree with him on price levels. Not because I'm right and he's wrong, but because he trades daily chart, while I'm at the opposite end. I see price respecting psyche/price levels dozens of times a day, with easily a handful of solid set-ups worth taking on any currency pair you care to name. VP's point about the unpopular kids totally aligns with this -- the lower the number of participants, the more likely they are to move as a herd and go from level to level. On the EURUSD, it's always a toss-up. It's so crowded with people second-guessing and bluffing each other that price will fight all the way down through 2.5 pip, 1 pip, and .5 pip levels. Unless you've got a decent feel for price action, it's effectively random. Even with that sense for surfing price, it's pretty tough. But while VP was pointing out how nothing really works on D1, 00s and 50s work better on H1, and like clockwork on M1 or tick charts. Inasmuch as anything can be reliable in trading, price goes through a dance of premature rejection around 90/10, regroups, touches the 00 figure, rejects, then punches through to the 90/10 on the other side. From there, price might reject all the way back, or it might confirm off the 00 and extend further. Similar lesser plays happen every 10-20 minutes around every single 10-pip level, going over/under by 1-2 pips. But even though I use them constantly on sub-H1, I totally ignore 5-10 pip levels on anything over H1. As for other indicators, the vast majority that can be found on the MT4 codebase or elsewhere online require a historical lookback period and are derived from price. Some try to avoid the historical lookback period, and a very few incorporate volume. Most of the rest are just masturbatory equations that juggle and massage price to filter out noise. They fall into two camps: bounded and unbounded oscillators. RSI and Stochastics are examples of bounded oscillators, ranging 0-100. MACD and ATR are unbounded, showing you where price is relative to past price, regardless of how big a move it ever makes. Bounded ones have the problem VP has described -- in a strong trend, they will falsely camp out in overbought/sold territory, precisely when you should be loading up and pressing your trades hardest. Unbounded ones will blow out the indicator's chart during the same trends, such that they become useless for reference (like an overexposed white photo). ATR is excellent for a number of reasons, though. VP's described how he uses it to help define risk. Many people also use it to gauge their typical expected targets. By definition, price moves on average by 1 ATR per bar. It's a square root function of time, though, like options time decay. So an average 2x ATR move can be expected to happen in 4 bars. 5xATR in 25 bars, etc. etc. However, averages are deceiving b/c when a big money player decides this is his moment to shine, he's going to put in his orders and move price. As Nassim Taleb writes a lot about, trading is not a neat bell curve, and there's a lot of long-tail risk of extreme movements. Many experienced traders try to not let negative long-tail events wipe them out, while remaining open to the possibility of positive long-tail events. Or they'll accept ironing out both in favor of a more consistent edge.

[@andrewbaccola5188]

Price goes up and price goes down, if you can play guitar with your feet and make music then you're good to go. Your job is to take as much money as you can from those ups and downs with any tools that suits you. So go ahead and put 2000 hours looking at those charts, at least is what it took me to figure it out. Go get it

[@theforexcodes8133]

You have to try things out for yourself on demo. It takes time and work. VP and I disagree on a few things but I agree with most of his thoughts on indicators. I use some but many people have never heard of them. That's taken 15 years to sort out though ha!😏

[@willchea3733]

@@opitz30 blame Blame come to the point. That is why traders loss money. Trying to figure out all this bustier ideas of yours

[@theanomalysubliminals5008]

Does this include quarter pip theory?

[@Devon1_]

You do realise price wont respect all and u would have to wait for price to react anyways u wouldnt blindly enter a trade because its at a price level u wait for maybe a lower high for sn uptrend reversal and then maybe one other confirmation ur making it seem like ppl talk about as if its the holy grail which it is traders know price wont just react when it hits a price level u have to wait for it to do so

[@judenosa1117]

Damn.. You see through this bs of a post man.. I used to like this guy until he just lied all through this video

[@KingJT80]

@@judenosa1117 lol this person above said maybe what for a level and now you think what NNFX said is BS? LOL so guessing if a level is gonna hold because it made a lower high or higher high? You guess it?! That's the whole point of the video

[@Songsilike-4U]

Found you a week ago now im in this video Thank U VP! 👍😎 Keep Sharing You Are Awesome

[@VilkasDe]

Outstanding content VP ! Learning every day something new & already deleted all lines from my charts it looks way cleaner and stressless I'd say :) just as a feedback wat to say that your intro "sound" is very annoying :D I don't want to be rude or anything like that just thought might give you a feedback on that. Please ignore it if you will.

[@sackude]

price action and indicators are the same thing it all depends how you use them

[@archravenineteenseventeen]

The difference between the 2 is that the latter is base in calculation

[@victorkyaruzi2159]

It is just so sad to hear someone pay $250 for a forex course, $200 for live sessions and $10 per month for signals that resulted from price levels and S&R lines

[@lovepreetsingh2181]

OMG i simply love you!!!!!😄 THANK YOU 🙏

[@SSEnrich]

Even if it did work. I would never use price levels. Too stupid.

[@maxrobinson1140]

Superb channel. About 50% through and it so refreshing. Top videos (for me) would be RISK , BIG BANKs and money management series I've not actually seen anything about big and mid price Trading and video convinced me to ignore anyway. However, to be honest more metals than FX , but how significant is the impact of market level perceived significant price levels eg (at time of writing) gold $1500 level?

[@Mike-Downs]

Ah yes, price levels or as some like to call them "Money maker" zones. I got enamoured with the quarters theory, fell hard too, and so did my trading account.

[@rasoulaslami449]

DISRESPECTED IT !!

[@HardKillaz]

What I realized from this video is The lines that do work don't even get you into a long trend.....

[@david808323]

Disagree. Price moves to the mid-figures and big-figures because that is where the banks place their large orders and iceberg orders. Price reverses frequently from the 20's and 80's because retail traders place their stops above and below the 00 big-figures at those levels. And price does not reverse exactly at any of these levels. If you zoom out you can see the usage, however. It's all about where the money is. ICT on Institutional Price Levels kzbin.info/www/bejne/gJWrcnWBfqqIZ6s Also, Paul Langham of exacttrading.com has a very good forex bank traders levels. It basically shows the reversals of the weekly, monthly, quarterly, and yearly time periods which the banks use. Forex Bank Trader Levels kzbin.info/www/bejne/qqW1c5KchLNkqtE

[@KEN_2658]

Exactly

[@jeffreywhite4091]

Your vids are awesome

[@rahulchahal5360]

Another excellent one

[@hodltkes8034]

The more I watch the more I learn. #Binge

[@fishertheadore6095]

Also known as *KEY LEVELS.*

[@glmanny]

Hi I've found out about you a while back tonight and I watched 6 of your videos and I have a question but how do you tell if the market is gonna do a good up trend or a good down trend like just if I was sitting infront of my pc how would I tell what's it gonna do I've learned alot from ur channel is there so formula or sign I'm looking for for this up trend or down trend?

[@NoNonsenseForex]

Indicators are your best bet. I have videos on those too.

[@glmanny]

No Nonsense Forex can you link me it please sir

[@glmanny]

No Nonsense Forex ?

[@dakaodo]

Start with the free basic education on www.babypips.com, then open a demo account and try it yourself. He's not going to give you an answer. No one is, b/c there is magic formula, sign, or indicator for telling you where the up/down trends are. If there were, we wouldn't all have to work so hard to learn this. After you try a few indicators, come back and watch the rest of VP's videos. It won't really make sense until you experience it yourself. :P

[@theforexcodes8133]

TFC Candles and Wave work for me😉

[@Babalooch]

Hey VP, I am the new guy catching up with your channel. I am having a bit on an issue with reading your video relevant blogs, everytime I try to access one it gives the following error "You have been banned from this site. If you think there has been a mistake, please contact the administrator via proxy server." Can you please help? I have tried with with Firefox, MS Edge, Crome, Safari, Opera, IE but no luck. HELP HELP HELP!!!!

[@NoNonsenseForex]

Where do you live?

[@jeez998]

1 down more to go

[@ihavenoname1992]

It sounds like that when a trade reaches close to the physiological trend line, that u can wait and see where traders are send the call to and jus trade against them if u want😂

[@jayceb3284]

1.1450 line 1 thing I keep on eye for is breakouts. Prices tend to go to the middle of that candle. Suspicious action but it's still something I watch for on the 1h, 4h, 1d charts.

[@sylvesterdzingirai3100]

Candlestick

[@kurtis4730]

Hey VP, what are your thoughts on pivot points such as Cam, Fibs, and your Traditional pivots?

[@judenosa1117]

Over 1 year and still no respond.. Wow

[@wakkaluciscaelum1670]

A year and a week.

[@ohthefuture7618]

Hard like.

[@sirsweet3022]

KZbin Land Magic!

[@Lunkyful]

Here's a little tip. Don't have....

[@leewilliams6058]

👍

[@thomasneit880]

OMG my like is 666 I should quit crypto now :D