Is Price Action Trading The Holy Grail Of Forex Trading? No. But it is better than using indications in my opinion.
So What Is Price Action Trading?
Well, price action trading is trading done using price patterns, price charts...anything to do with price and based on the idea that price forms repeated patterns and as a price action trader, you need to identify those patterns and trade them.
Can Price Action Trading Make You A Successful Forex Trader?
Yes and No.
There's a lot of variables involved in forex trading. There's no guarantee that you will make money trading forex.
However, based on my experience, if you learn to control risks in trading, you'd have a greater chance of making money.
If you want to learn more about price action trading, go to this link: price action trading course.
Monday, July 11, 2016
Saturday, May 14, 2011
PATIENCE-ONE OF THE MOST DIFFICULT THINGS TO MASTER
Patience Pays.
Patience is one of the Hardest Things To Master. If you can have the patience to wait for the setups to occur, you will take trades that have high probability of success. Easier said than done. Why? Many want excitement. Trigger happy? Maybe. Well, guess what? You would not last long in trading.
Wednesday, April 27, 2011
WHY BIG MONEY IS MADE IN TRENDING MARKET
Ok Traders,
lets face it: big money is made in trending markets. So it is no wonder that we often see this statement " the trend is your friend." This is just plain common sense. Get in the trend when it starts or jump in along the way (if you miss the beginning) and ride it as long as it lasts and you will make more money. However, this is not always easy to do for many traders to do. Why? Well, you may be using a trading strategy or system that actually fights the trend. And guess what? You odds of success are very limited. It is like having a tug of war with sumo wrestler. He pulls the rope on the other end and you pull on the other, who do you think will win? Easy! The big guy! Same situation here folks. Trading is about probabilities. Let me repeat that: TRADING IS ABOUT PROBABILITIES. There is no guaranteed outcome on every single trade we place...therefore the best you can do is actually follow the big moves...follow the trend. Find a forex trading strategy that is a trend following strategy and use it consistently. Doing that gives you the confidence that your trade has a greater probability of success.
lets face it: big money is made in trending markets. So it is no wonder that we often see this statement " the trend is your friend." This is just plain common sense. Get in the trend when it starts or jump in along the way (if you miss the beginning) and ride it as long as it lasts and you will make more money. However, this is not always easy to do for many traders to do. Why? Well, you may be using a trading strategy or system that actually fights the trend. And guess what? You odds of success are very limited. It is like having a tug of war with sumo wrestler. He pulls the rope on the other end and you pull on the other, who do you think will win? Easy! The big guy! Same situation here folks. Trading is about probabilities. Let me repeat that: TRADING IS ABOUT PROBABILITIES. There is no guaranteed outcome on every single trade we place...therefore the best you can do is actually follow the big moves...follow the trend. Find a forex trading strategy that is a trend following strategy and use it consistently. Doing that gives you the confidence that your trade has a greater probability of success.
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