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Brisbane Chapter, Sat, 12 May 2018 at 9:30 am

Brisbane Chapter
Sat, 12 May 2018 09:30 AM
Community Meeting Room 2, Logan Central Library, - 26 Wilbur St, Logan Central QLD 4114
Tim Young Phone: +614 1487 3003

Visitors are welcome. First visit free, subsequent visits $40.

9:30 am–9:45 am: Welcome and Introduction

9:45-10:00 am: Rule of thumb when combining time frames

Use the higher time frame to determine the direction of the trend, and use the smaller time frame to time your trend entry. (Reference:

10:00-12 pm: High profit trades found with candlestick breakout patterns – Steve Bigalow (80 minute video)

Learning about candlestick patterns can be a great way to better understand price action and this presentation is an 80 minute video by Steve Bigalow who spent years searching for the 'Holy Grail' to consistent investment profits, until he discovered Japanese Candlesticks about 18 years ago and soon recognized the easily-seen signals candlesticks create were his answer to consistent profits.

Some traders espouse the technique of not using indicators and instead relying only on reading the price action of the chart. Nial Fuller (a price action trader) addresses this point in the following statement taken from his website (

“The root of the problem with using indicators to analyze the forex market lies in the fact that all indicators are second-hand; this means that instead of looking at the actual price data itself, you are instead trying to analyze and interpret some variation of price data. Essentially, when traders use indicators to make their trading decisions, they are getting a distorted view of what a market is doing. All you have to do is remove this distortion (the indicators) and you will obtain an unobstructed view of what price is doing in any given market. It seems easy enough, yet many beginning traders get suckered into clever marketing schemes of websites selling indicator based trading systems, or they otherwise erroneously believe that if they learn to master a complicated and “fancy” looking indicator they will for some reason begin to make money consistently in the market. Unfortunately this could not be further from the truth …......”

Both Steve Bigalow's video presentation and Nial Fuller's statement may be a motivator to us all to spend more time learning to read price action.

12:00–1:00 pm: Lunch

1:00–2:00 pm: Analysis of selected charts

We will look at not only daily, weekly, monthly charts but will venture into the 'short time frames' of 15 minutes, 1 hour and 4 hour charts to see what they are telling us.

2:00–3:30 pm: More on Forex – Tim Young

Building on last month's topic of an introduction to Forex trading, we will look in more detail at the way PIPS and spreads are calculated as well as at the nitty-gritty of leverage and the associated margin requirements.

This presentation will consist of videos and worked examples with plenty of time for questions.

3:30 pm: Close

iNext meeting: Sat, 9 Jun 2018 9:30am - 3:30pm

Next Meeting Venue:  Community Meeting Room 2, Logan Central Library, 26 Wilbur Street, Logan Central, Logan City QLD 4114

Next speaker: To Be Advised

Future meetings: Generally of the second Saturday of each month.


All Dates

  • Sat, 12 May 2018 09:30 AM

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