Discuss Nial Fuller Price action forex education method

[beaky]

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My point is if i can find this for free, why pay for the course?

When im talking about the guts of price action, i am talking about understanding when the buying/selling pressure is likely to lead to a reversal or not, when is it accumulation and when is it just profit taking, is the trend exhausted or has more room to go and why

Hey Brendon, sorry about the spelling. Well i've looked into his stuff over the last couple of days. I donloaded for free his course from 2008, 102 pages long.
I must admit, i'd be gutted if i'd paid money for it. It seems mostly to be regurgitated J16 stuff, even down to the ma's used. it seems his signals are mainly pinbars, inside bars, and the 'fakey', more commonly known as a swing failure pattern. Very little attention paid to support and resitance, apart from marking off previous swing highs or lows. Overall, i agree there's nothing in it thats not out there, than you can get for free. Having said that, you do get access to his forum, but if as you say he doesn't practise what he preaches, then whats the point.
Personally, i trade pinbars, although i prefer the more classical names of hammer/shooting stars, bullish/bearish engulfing, evening/morning stars, bullish/bearish piercing. i don't trade inside bars.
i find these patterns give enough opportunites on the daily, both on fx and commodities. Regarding reversals, it really depends on where the signal occurs, is it at major support etc. i think the other points you raise, comes down to time spent on a chart, getting a feeling.
If i get time, i may start a thread, just for price action trading, although this forum doesn't seem very active. I'll show how i set up a chart, what i'm looking for in a trade, expectations, stop loss placement etc. If i'm honest i don't stay in trades very long, i like to cash insome profit, get stop to b/e, and let the trade play out. It may not be everybodys cup of tea, but i'm comfortable with it.

Cheers


AsstModerator Note: Downloading pirated copies of commercial products is a very bad idea. It is illegal and unethical. What you receive will probably be incomplete or out of date. What you receive may have been changed to have incorrect instructions. What you receive may be full of viruses.

In this case, the pirated item discussed was an old copy and was not complete. It was only one piece of a much larger course. The course is only one of the products offered by Nial.

If you try to download something that's been pirated, no one will feel any sympathy when a virus destroys everything on your hard drive. Download enough pirated items and it will happen sooner or later.

One person has already been banned in this thread for sharing a link to an illegal copy of a commercial product. Do not tempt me to do it again.

 

[WaveRider]

I'd love to see you start that thread. PA is an old, well tested method for succeeding. J16 didn't start it either. The problem with new traders trading it is, it helps to know what the chart is telling you when you've seen a few thousand charts. PA in the hands of wreck less, impatient traders is useless or for ones who haven't spent time analyzing PA carefully.

One reason for paying for a system is it may help to get the trader serious about it being a business. This is purely psychological but it is a real issue. Much of what Nial Fuller teaches is also taught by the J16 group, as you mentioned, on Forex Factory for free, though he has also started a pay site recently. There are several great trading forums with many successful traders who lay out their trading method clearly and over time. Any one trading in 2006, had no such help. Now there is a lot and free.
Another reason is it may help accelerate learning. Like learning guitar on your own with book or free internet videos, or having an instructor. Though typically these courses aren't a live professional with you but canned videos and pdf's.

To me it's a good example of how there is another business here and that is the forex support business. Education, EA's and even being a broker. Let the buyer beware. Someone will try to part you with your money.
No trader, in my opinion, will be successful following a set formula. He or she has to personally understand how the market works in relation to their strategy. PA is a way of seeing the market. Dinapoli had a similar but definitely varied way of seeing it. Both strategies are sound and successful for the trader who has spent the time to master the guiding principles of the system. That you can't buy. Forex is the hardest easy money anyone will ever make.

 

[micman]

Watch his old videos on YouTube and you'll get most of what he sells in his course.

 

[welshchap69]

Hi All

I have been a member of learntotradethemarket.com for about five months. I must say that the newer members of the site are very help full however i joined the site to follow Nial Fuller not the new members. Nial is very protective of his site and it is frowned upon to criticise him in the live forum. There are members in the forum who only post winning trades and never mention their losing trades, this can be very negative for new members and it would be nice if Nial had more input in the day to day running of the site. Nial does not like you to criticise him AT ALL its a shame he does not do a little more to help newer members trade as he does, by commenting more often on live trade set ups etc. All in all very disappointing and could be improved upon with more input by senior coaches.

 

[WaveRider]

could be improved upon with more input by senior coaches.

Great feedback. Does he or anyone else give a posting of their balance sheet? Not the $ amounts but the pips amounts? A really fair, honest forum would have something showing losses and wins. In terms of education, this is very helpful in understanding how to handle a loss, or a string of losses. Learning from trades gone bad is very important.

 

[welshchap69]

Hi waverider

No there is no mention of any profits or loss in the forum. The main criticism as I mentioned is that there is very little input by Nial. He does write a daily commentary however it does not tell you any thing. Also as mentioned there is a live trading forum however Nial is very rarely in there, It would be nice if there were daily trade set ups by the coaches. I cannot remember Nial ever posting his trade set ups (since i have been a member anyway) I realise that trading is my responsibility and I am not looking for Nial or any of the coaches to tell me when to pull the trigger however a little more advice and input would be appreciated. Nial never ever commits himself and I do not think he trades on a regular basis, when he makes a trade we only get to hear about it when it is well in profit.

Great feedback. Does he or anyone else give a posting of their balance sheet? Not the $ amounts but the pips amounts? A really fair, honest forum would have something showing losses and wins. In terms of education, this is very helpful in understanding how to handle a loss, or a string of losses. Learning from trades gone bad is very important.

 

[WaveRider]

Hi Welshchap69,
Too bad. Not sure what you're paying for. I've read some free threads that interact with members and post live trades good and bad just because the people in the thread are cool and helpful. Or at least some listing of wins and losses. Not everyone has time to post every trade. Still I think that's exactly why you pay. The J16 guys do have some great live trade videos. NanningBob has a lot of stuff posted good and bad and is pretty thorough about posting his results. Sometimes Stavro here on FPA would recap trade results, which I thought was the best part of his signals service.
This is a business. A lot of these folks have got their fingers in a lot of other business ventures. There is a science to sales, marketing, distinguishing a common product as new and different and worth paying for. This is just another profit center and some may choose to ignore it as long as the marketing machinery is bringing in revenue.
Does it seem like his service taught you anything or do you feel pretty in the dark still? Would the 5-8 trades of hand holding be what you need to bring it to the next level or would that be a crutch?
Sive does analysis and basically says "It will likely go up to this level for this reason but watch out for sharks or wait for the stop grabber." I wish he would give a detailed example of how a pro-trader would take the trade. Entry point and why, stops where and why, TP where and why and how he breaks his positions up. Just 2 or 3 of those would be really helpful. Sive, I think got nailed on April 17th but he called it perfectly today. I'm a PA guy and I didn't want to get in with the jobs report but he was right on. Wonder how he traded it.
I've read several of Fuller's free articles and they all seems very above board and sound in the advice given.
Thanks for your input.

 

[Neutral]

I find Nial's website a fantastic resource for new forex traders & those interested in price action. I am not particularly from the same vein of practice having a more fundamental & technical approach as opposed to Nial's method of price action (albeit additionally with the use of S & R)
However, before committing my money to any course, I want to see if the person/company selling the material can actually trade profitably otherwise everything is nothing but hearsay. Most companies selling courses cannot trade profitably so ironically they turn to running an education company. Full transparency of their trading account lets people quantifiably know if the system preached is legit & profitable. Transparency can be facilitated through sites such as myfxbook etc so I don't see why companies don't do this to uphold their reputation.
I am not singling out Nial here as he must be praised for his website as a great education resource. However, all companies of this nature that sell systems/strategies must be held accountable via full transparency.

 

[Black Bird]

Most companies selling courses cannot trade profitably so ironically they turn to running an education company.

Yep; people who are able to do something well can do that thing for a living, while people who are not able to do anything that well make a living by teaching.

Remember: Those who can, do; those who can't, teach.

 

[deltok]

A trader or not?

To be brutally honest sometimes I feel that he is a very nice guy - whether a good trader or not - but his mood swings let him down sometimes.

Can someone with such mood swing trade well? It take certain traits to be a trader.