Posts Tagged ‘price action’
How to Trade Forex using Price Action
I am ure there is plenty of currency forex traders out there could use some help with their forex trading and overall trading plan.Dealing with over 100 Students every month, I have come the conclusion that just about every aspiring novice trader attempts to make currency trading more difficult than it has to be, they are basically “chasing their tails into eventual trading failure”.Most of the time, the simple stuff is overlooked, for example : remember the first text book material you once read on basic forex technical analysis methods ? Tell me … How much of that do you actually remember and use in your fx trading? How much study and testing did you actualy put into it? I rest my case, that simple trading methods are widely overlooked in forex trading.
For starters, you should always know where the trend is, and whilst that may sound rather obvious, as I said, it’s quite astonishing how many traders don’t even look at the larger picture trends on the charts.
If you are one of those kind of traders who aren’t sure of how to trade with the trend, I’ll give you a little hint: It’s a lot easier to spot when you don’t use indicators, honestly, Indicators are USELESS! there is a simple way to find the trend, and work within it to make great trades, but you wont ever have clarity using the modern day standard indicators, they are not going to give you any clear edge over normal chart observation using price action.
Just think of magial indicators as a kind of shortcut to the market, and we all know that shortcuts are not the way to learn trading! If you want a deep understanding of what it takes to move the market and trade with a high probability trading plan, you are going to have to dig a little deeper than all those lagging indicators and fancy trading systems, you should know that none of that is what really works in trading, there is no easy road here.
You want to be able to look at a chart the same way that most trading purists would, the same way as the hedge fund manager would. So what is the answer? … well to put it in one sentence, ‘you need ia basic bar chart or candlestick chart’
I know you may be a bit apprehensive, but if you look at it with an open mind, I think you’ll be amazed at what you see. The forex market has a natural energy. It has a natural ebb and flow that gives you strong support and resistance areas, not only that but you will soon start to see obvious reversal signals, and candlestick formations, things that are occuring over and over again with precision.
You should be aware of the fact most forex traders who have used modern day technical analysis relied solely on price action trading alone, they certainly did not use indicators like Stochastics, MACD, RSI, etc. To start having any chance of success in forex trading, you must learn to trade using price action, and of course look to surroun yourself with like minded traders and mentors who teach the price action strategies which work.
All the best and good trading.
Forex Video - Price Action Education Tutorials
Its a shame that more traders are not aware that one of the best trading methods of all time is the art of reading "price action" and "price patterns", widely overlooked by many traders, this strategy to trade forex can be very effective due to its simplicity. There is of course a brain washing tactice marketed by ebooks and brokers, that the secret to trading is using indicators and loading your charts with fancy systems, WRONG!!, this is not the way to trade forex. Honestly, thats laughable . I often feel really sorry for novice traders who throw money at forex scams and con jobs, its simply not the way to educate yourself. They are just looking to sell a product.
to put it as simple as humanly possible. If trading robots were so successful why would Wall Street be paying so much for their best traders. Why would so many institutions be paying back the bail out money because it limit's the pay they can offer their star traders. The answer is obvious. Who truly trusts a robot to trade for them.
So to be as successful as these all star traders, we as retail traders need to gain the same kind of high profit trading edge. how are we going to do that then? Study price action is the simple answer. Knowing this gives the same edge institutional traders have.
this sounds difficult but its not. There are a lot of nuances to the market and in all honesty it has taken me more than a couple of years to figure it out. Its been a while now since I first came across traders using price action, and my trading profits have soared, its clearly the path to profits.
Trading this method for over 4 years now, and my profits are soaring, and far better, the more I tweak the method, the better is gets, thats what price action can do for your trading.
I only spend about 10 hours a week doing it, its less stressful because its typically and end of day trading methodology. I am happy and even better my family is happier.
If you would like some advice from somebody who has turned the corner from losing regularly to becoming profitable enough to replace their full time job. We will now explore how you can quickly start making money trading price action. Price action is not often taught and is closely gaurded by top traders as a secret trading method.
Learn price action, it will be the best thing you will do for your trading success.
Forex Help – Price Action
Can There be any greater method to trade than what I believe is to be the best way to trade forex, and is without a doubt, the art of trading price action in forex and currency markets. I am here to tell you right now, that trading is not about throwing on a pile of indicators or finding a magical trading robot, leave that for the idiots. Thats a serious joke. I cant see how it is legal or ethical for internet salesman to sell scam ebooks and forex robots to newbie traders, its damn wrong. They just want to make money and sell a product.
To put it as simple as possible. If trading robots were so successful why would Wall Street be paying so much for their best traders. Why would so many institutions be paying back the bail out money because it limit’s the amount of pay they can offer their best traders. The answer is obvious. Are you dreaming? Can a robot really print money.
So to be as successful as these all star traders, we as retail traders need to gain the same kind of high profit trading edge. so how can we do that? Study price action is the simple answer. When we know this, we have an edge only matched by the institutions.
To some this sounds difficult however it really is not. There are a lot of nuances to the market and in all honesty it has taken me more than a couple of years to figure it out. Its been a while now since I first came across traders using price action, and my trading profits have soared, its clearly the path to profits.
Trading this method for over 4 years now, and my profits are soaring, and far better, the more I tweak the method, the better is gets, thats what price action can do for your trading.
I only spend about 10 hours a week doing it, its less stressful because its typically and end of day trading methodology. I am no alot more happy and even my family sees the difference in my mental state of mind.
Want to become profitable enough to replace their full time job, and would like some advice from somebody who has turned the corner to profits. This trading strategy is by far the cleanest and most simple style to trade the market in existance. Nobody ever looks as this style of trading because its dead simple, and widely taught only by top traders.
Learn price action, it will be the best thing you will do for your trading success.