Trading Price Action is truly a game of “gut feel” ” trading strategy” and “price action charts”
The market is one giant poker game, and not only do you need a good
knowledge of the game itself, one must learn to read the emotion of all the
players at the poker table.
As a price action forex trader, I can only offer my personal trading insights and the things I have picked up
over the years that have helped me with trading strategies and my general approach to reading charts..
I can not give you all of the “gut feel” qualities which is a larger part of the ingredient to long term success, this market intuition and emotional element will only come with learning and trading experience. Nobody will want to tell you this though.
I am here to tell you that no matter what trading strategy you learn, it will require screen time, patience and absolute discipline to trade it successfully.
There are 2 levels to be aware of.
1. Part of trading is the strategy
2. Part of trading is the emotional element, and the ability to read the market with “good intuition and feel”.
There is no mechanical approach that I am aware of that makes money long
term, all methods I trade and that others trade that I know of, use a basic
“rule set”, and basic “trading plan condition” to then use pull the trigger on price action related setups etc.
For example, a trading plan may look like the following…
One might have 3 pre conditions,
1. The chart shows a trend within the last 10 days, price has formed a 1 2 3
reversal higher, and is trading near its recent high.
2. The market has pulled back to a support point
3. The market has now formed a “price action signal” condition to confirm a
reversal which may become the entry point.
These may be criteria in a trading plan, but how do we truly filter this,
and say ” ok I will trade this setup, but I wont trade this one, because
of…etc etc.”
As I say to all my students honestly, the greatest traders are in fact, people that can
have a trading plan conditional element, but then use what I call the “gut
feel element” and the “internal emotional filter’, or put simply, they use market experience and screen time to help make quick on the spot trigger decisions.
Thats just a qucik article on the “emotional element” in trading price aciton, and indeed all trading methods, no matter what the educators say, there is always a degree of intuition and awareness that is taking place in our trading, and its time to learn to harness it correctly.
Showing posts with label Forex Education. Show all posts
Showing posts with label Forex Education. Show all posts
How to become a Professional Trader
You only need to master one trading setup to be a consistently profitable trader.
Screen time will allow you to master one setup.
After you have mastered one setup “own it ” you can add another setup.
This can be an ongoing process developing your own style.
* The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability.
* We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques.
* Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one.
* They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
* The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both.
* At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend.
* If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.
* This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style.
* My personal trading style is a combination of various styles and setups. I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.
PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE
Screen time will allow you to master one setup.
After you have mastered one setup “own it ” you can add another setup.
This can be an ongoing process developing your own style.
* The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability.
* We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques.
* Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one.
* They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
* The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both.
* At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend.
* If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.
* This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style.
* My personal trading style is a combination of various styles and setups. I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.
PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE
How to become a full time forex trader
You only need to master one trading setup to be a consistently profitable trader.
Screen time will allow you to master one setup.
After you have mastered one setup “own it” you can add another setup. This can be an ongoing process developing your own style.
The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability. We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques. Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one. They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both. At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend. If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.
This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style. My personal trading style is a combination of various styles and setups.
I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.
PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE
Screen time will allow you to master one setup.
After you have mastered one setup “own it” you can add another setup. This can be an ongoing process developing your own style.
The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability. We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques. Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one. They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both. At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend. If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.
This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style. My personal trading style is a combination of various styles and setups.
I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.
PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE
Meta Trader Forex Charts Review
The MetaTrader software is developed by the MetaQuotes Corporation, an innovative firm specializing in cutting-edge trading solutions for retail and professional forex traders.
Ever since the launch of MetaTrader in 2001, the platform has been updated and improved constantly to reach its present status in the market as one of the most popular trading software among forex brokers.
The advantages of MetaTrader are numerous. The clean and uncluttered interface of the software ensures that at any point in the trading process your goal is but one click away from you. Accessing the list of currencies, technical tools, or the charts is as easy as opening the home page of your browser. Yet this clarity of the interface doesn’t prevent the software from offering one of the richest technical packages in the market. About 30 different indicators are available in the standard package of MetaTrader, and on top of that, traders are allowed to create their own indicators in accordance with their forex trading strategies by using the custom indicator feature of the platform.
Another strength of the MetaTrader software is its ease of use. The process of drawing a chart, adding an indicator to it, modifying the colors takes only a few clicks of the mouse at most. The extensive help file that comes with the MetaTrader package is one other feature of this platform that makes life much easier for traders, be they complete rookies, or experienced champions. The documentation provides information on the easiest aspects of the platform, right up to its most complicated customization or expert advisor features, leaving nothing unexplored.
And if you want to monitor more than one currency pair at the same time, MetaTrader will offer you the perfect solution: the chart screen can be divided into four quadrants each of which displaying a different segment of the market, and the resulting presentation is a great example of how clarity and utility can be combined in a computer software solution.
Finally, one of the most exciting aspects of MetaTrader is its expert advisor feature. If you ever felt that you had the perfect technical tool for your forex trading strategy, but couldn’t be confident about its profitability, MetaTrader will solve your problem. With back testing data going back to two decades in some cases, you can test your technical strategy as you recline in your chair, and the computer will give you extensive data on the safety and profitability of it. You will sometimes feel that it’s too good to be true, but it is.
Trading has never been easier. MetaTrader is the perfect solution to all your trading needs, and you will never regret the choice if you decide to incorporate its offerings into your forex trading strategy.
Ever since the launch of MetaTrader in 2001, the platform has been updated and improved constantly to reach its present status in the market as one of the most popular trading software among forex brokers.
The advantages of MetaTrader are numerous. The clean and uncluttered interface of the software ensures that at any point in the trading process your goal is but one click away from you. Accessing the list of currencies, technical tools, or the charts is as easy as opening the home page of your browser. Yet this clarity of the interface doesn’t prevent the software from offering one of the richest technical packages in the market. About 30 different indicators are available in the standard package of MetaTrader, and on top of that, traders are allowed to create their own indicators in accordance with their forex trading strategies by using the custom indicator feature of the platform.
Another strength of the MetaTrader software is its ease of use. The process of drawing a chart, adding an indicator to it, modifying the colors takes only a few clicks of the mouse at most. The extensive help file that comes with the MetaTrader package is one other feature of this platform that makes life much easier for traders, be they complete rookies, or experienced champions. The documentation provides information on the easiest aspects of the platform, right up to its most complicated customization or expert advisor features, leaving nothing unexplored.
And if you want to monitor more than one currency pair at the same time, MetaTrader will offer you the perfect solution: the chart screen can be divided into four quadrants each of which displaying a different segment of the market, and the resulting presentation is a great example of how clarity and utility can be combined in a computer software solution.
Finally, one of the most exciting aspects of MetaTrader is its expert advisor feature. If you ever felt that you had the perfect technical tool for your forex trading strategy, but couldn’t be confident about its profitability, MetaTrader will solve your problem. With back testing data going back to two decades in some cases, you can test your technical strategy as you recline in your chair, and the computer will give you extensive data on the safety and profitability of it. You will sometimes feel that it’s too good to be true, but it is.
Trading has never been easier. MetaTrader is the perfect solution to all your trading needs, and you will never regret the choice if you decide to incorporate its offerings into your forex trading strategy.
Subscribe to:
Posts (Atom)
RSS Feed (xml)
