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Steve Patterson left a comment for Steve Patterson
"Im not sure I just do the webinars and leave the rest to the fxstreet people :)"
Oct 5, 2012
Romano left a comment for Steve Patterson
"Hello Steve, I cannot find most recent webinar in archives, was it not recorded? Unfortunatelly GMT 3 is usually time I have to leave for gym, if u could only do it sooner or pls make sure next ALL webinars are archived, thanks!"
Oct 5, 2012
Romano left a comment for Steve Patterson
"Thanks dude, thats all I need, I dont even want to know your exact strategy. I usually redevelop/enhance inherited strategies I use anyway so I dont want your holy grail on the table, just in general to know if i am understanding you right - there…"
Sep 21, 2012
Steve Patterson left a comment for Steve Patterson
"Hi Romano Looks good ! I dont mean to be too vague but I can not reveal exactly how I trade to you because I have to be fair to my existing clients/students and my edges are proprietary to me but I'm happy to point you in the right directions ;)"
Sep 21, 2012
Romano left a comment for Steve Patterson
"Hello Steve, here at eu 1h chart I went long at low line where price started to turn, with TP at higher line. Price actually went higher but I took my 50pips. I expected liquidity run to those previous high levels when price started to turn up, am…"
Sep 21, 2012
Romano left a comment for Steve Patterson
"Steve, would your confirmation be first strong looking bar close - breaking current context in that desirable direction or would it be some different kind of confirmation? Also that aside, would that trade otherwise be valid if we look only for…"
Sep 19, 2012
Steve Patterson left a comment for Steve Patterson
"Romano Thats not how I personally trade liquidity runs. In my experience you are best to wait till you see one start before you assume one will take place at any random support / resistance level ;) Good luck with that trade:)"
Sep 19, 2012
Romano left a comment for Steve Patterson
"Hi Steve, so I am trying to understand liquidity play u teach us. On my pic, daily eu I shorted where upper line is and TP is at bottom line of channel. Reason for sell was as I expect a lot of liquidity at those highs and if it goes down I expect…"
Sep 19, 2012
Keith Shaw commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"CHEERS Steve we like to earn our keep with no strings attached ;). Sir  Peter, that is why the beer was saved till last and two bottles of beer is a small price to pay for a bit of education. This business costs people a TON more, the majority…"
Aug 19, 2012
Peter jcp commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Fancy wasting a couple of bottles of good beer into that "mix of life" Remember though if he added the beers first - he would not have got so much into his jar ? Professor Keith lol ;-)  "
Aug 18, 2012
Steve Patterson commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Keith that was brilliant thank you very much for sharing that ! If you lived in Toronto or I was in London I know we would be the best of friends and have a lot of fun together chasing the ladies ;)"
Aug 18, 2012
Keith Shaw commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Thanks Steve :)), if you’re going to ‘decorate’  someone’s blog I think a little bit of educational material mixed with a little bit of humour goes down well. Good call on Occam’s Razor haven’t heard that…"
Aug 18, 2012
Peter jcp commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"LOL Lisa - yes Keith seems to have been in a "happy chappy mode" - he must have had a great week and deemed it suitable to have a few "sherries" before he goes on his search for more "totty" Poor Steve's great blog…"
Aug 18, 2012
Steve Patterson commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Hey Keith thats too frigging funny good luck with the kracken hunt this weekend and I hope you land yourself a keeper instead ;)"
Aug 17, 2012
Romano commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Thanks, I wont be able to be there at webinar in person but I will sure dig it later in video archives. Today I saw what happened to eur/usd - exactly like what u were telling us. "
Aug 17, 2012
Keith Shaw commented on Steve Patterson's blog post Why your losing money ! Part 1 (The Reversal Mindset)
"Hi Steve, an interesting observation from your mentoring clients regarding the Reversal Mindset. A little trick I was taught some time back to over come the Reversal Mindset as you refer to it is to take it one good trade at a time. Once you have…"
Aug 17, 2012

Profile Information

About Myself
I have been involved in the industry for over 27 years and worked as a Broker, Floor Trader and analyst. I left the industry in 1988 and worked for myself as a retail and prop trader for the last 15 years. Recently I created Patterson Partners FX and I currently manage money as well as offer private exclusive training to individuals and corporations. I am also an Independent Analysts now for fxstreet.
Trading style
Discreationary
Current Broker
Smart Trade Fx

Steve Patterson's Blog

Why your losing money ! Part 1 (The Reversal Mindset)

Posted on August 16, 2012 at 11:26pm 10 Comments

I recently decided to take on some clients into a mentor ship coaching program and after only a few weeks I am starting to see very similar patterns and mistakes as to why so many people are losing money. I mean I know why I lose money when a trade doesn't work but its for entirely different reasons then what I am seeing with other people.

I'm going to list some of them out in a few blog posts, so I hope this helps some of you to correct this thinking.

Mistake…

Continue

Money makes Money

Posted on August 14, 2012 at 12:30am 3 Comments

Hello Folks,

This is my first blog post on fxstreet so I thought I would start it off with my favorite subject.

We've all heard it said that it takes money to make money but what exactly does that mean?

Well when I was 30 years old I saw this old beaten down hotel on the lakeshore for sale and I wanted to buy it because I knew that one day it would be developed and worth multi millions. Sure enough 6 years later there stood a 34 story luxury condo…

Continue

Comment Wall (8 comments)

At 8:01pm on September 19, 2012, Romano said…

Hi Steve, so I am trying to understand liquidity play u teach us. On my pic, daily eu I shorted where upper line is and TP is at bottom line of channel. Reason for sell was as I expect a lot of liquidity at those highs and if it goes down I expect another "bull" liquidity waiting down near or at that lower line. I guess I dont need to tell u why at those levels. Pls tell me if thats correct way of thinking and if u agree on that trade or not, thanks in advance.

At 8:41pm on September 19, 2012, Steve Patterson said…

Romano

Thats not how I personally trade liquidity runs.

In my experience you are best to wait till you see one start before you assume one will take place at any random support / resistance level ;)

Good luck with that trade:)

At 11:50pm on September 19, 2012, Romano said…

Steve, would your confirmation be first strong looking bar close - breaking current context in that desirable direction or would it be some different kind of confirmation? Also that aside, would that trade otherwise be valid if we look only for possible liquidity levels(did I eyed good possible levels) - not concerning about price action or confirmation for now, or would u see these levels at different positions than me in that approximate range of that eu daily? thnx again

At 10:36am on September 21, 2012, Romano said…

Hello Steve, here at eu 1h chart I went long at low line where price started to turn, with TP at higher line. Price actually went higher but I took my 50pips. I expected liquidity run to those previous high levels when price started to turn up, am I getting it right?

PS: I watched your webinar from archive as I was in gym at that time. I watch ALL you webinars now and in future :) I thought with VSA strategy I figured it out but this is even better, probably the best thing I ever saw. Btw it wasnt jpy or aud u mentioned about me, it was eu daily ^_`. I dont want to flood u with stupid questions like others btw just to make sure I can develop my sense to eye right liquidity levels, thats why am showing u, dont want u to babysit over me just quick show and confirmations.

I really think this is most important knowledge ever for this market. Best regards!

At 4:16pm on September 21, 2012, Steve Patterson said…

Hi Romano


Looks good ! I dont mean to be too vague but I can not reveal exactly how I trade to you because I have to be fair to my existing clients/students and my edges are proprietary to me but I'm happy to point you in the right directions ;)

At 5:47pm on September 21, 2012, Romano said…

Thanks dude, thats all I need, I dont even want to know your exact strategy. I usually redevelop/enhance inherited strategies I use anyway so I dont want your holy grail on the table, just in general to know if i am understanding you right - there is nothing like customized car :)) Cant wait to see your next webinar, either will be there personally of watch archive, take care and thanks for opening my eyes!

At 9:31am on October 5, 2012, Romano said…

Hello Steve, I cannot find most recent webinar in archives, was it not recorded? Unfortunatelly GMT 3 is usually time I have to leave for gym, if u could only do it sooner or pls make sure next ALL webinars are archived, thanks!

At 11:46am on October 5, 2012, Steve Patterson said…

Im not sure I just do the webinars and leave the rest to the fxstreet people :)

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