Go Back   The Finance Forums > Finance forums > General Finance

General Finance Discuss general personal finance issues and home accounting not covered on the other finance boards.

Thread Tools
Old 09-20-2017, 06:47 AM
adamsmiths adamsmiths is offline
Join Date: Sep 2016
Posts: 33
Default How to learn about the price action trading system

There are many ways of trading the financial instrument in the world. Every single day people are looking to make their life better in every possible way. But at the end of the day, most of us are dependent on our day job. But if you want to lead a luxurious life in the world then you need to think differently from the traditional people. Every successful people in the online trading community always think outside the box. Similarly in Forex trading, if you think that you can become a Forex millionaire with an indicator based trading system then you are just wasting your time and money. This market is often considered to be the most complex industry for the new traders. But there is always a simple solution to the complex problem. Most of the successful traders use the price action trading strategy to trade the live assets with an extreme level of accuracy. In this article, we will give you a clear idea to master the price action trading skills.

Assess your financial condition
Most of the new traders in the online trading world doesnít understand the importance of their financial stability. If you are running with debt then this market is not for you. You need to have an alternative source of income before you consider trading as your full-time profession. Some people might say that why they need an alternative source of income when this market is the best place for them? Since the success rate is very low in the Forex market, itís nearly impossible for us to make money in this industry from the starting of your career. So if we quit our day job and starting trading with all your savings then there are high chances that we will lose all the money.

What is price action trading?
Price action trading is nothing but a simple strategy to trade the market. Instead of using indicators and EAs the professional traders use price action confirmation signal to execute high-quality trades in favor of the market. Though it's really hard to master all the reliable price action confirmation signal if you develop a strong basic in this industry then it's just a matter of time to master the price action trading skills.

Use higher time frame
The retail traders have a tendency to trade the lower time frame. They always think that by trading more they will be able to secure a huge amount of profit in this industry. But the more you will trade, the less chance you will have to make money. In fact, in the lower time frame, the quality of the trading signals is also very poor. But in the Forex market, you must concentrate on finding the best possible price action signal. For this very reason the expert traders the expert traders in the CFD trading industry always trade the higher time frame data for quality trade execution.

Learn from the professional trader
It's always better to have a mentor in the Forex market. Itís true that you can learn all the details of this market from online trading resources but remember that it will take a huge amount of time. In fact, you will have to go through many hard obstacles during the early part of your trading career. However, you can significantly reduce your struggle by taking a professional trading course from the real life trader. This will give a clear idea of this market and you can easily develop your own trading strategy and become a better price action trader.

Becoming a price action trader is not all hard. You need to have a stable mentality and learn it from the professional trader. You can also learn this trading strategy by reading free books and articles. But always remember that without learning all the details of price action trading system you canít make profit consistently.
Reply With Quote

Old Sponsors
Old 09-23-2017, 02:28 AM
Stevendavis Stevendavis is offline
Junior Member
Join Date: Sep 2017
Posts: 1
Default Re: How to learn about the price action trading system

All above mentioned points are really useful in reading, sorry not ignoring your experience or denying, but as we know we never estimate the market value. If their any scientific or specified formula to achieve profit every time, no one in the world lose money in market.
Reply With Quote

Old 09-26-2017, 12:33 AM
g_nicks g_nicks is offline
Join Date: Jun 2017
Location: New York
Posts: 31
Default Re: How to learn about the price action trading system

Price Action trading is the purest form of technical analysis and is the basis of all modern day trading systems. It involves basic chart reading to find breakouts or consolidation phases which can aid in your buy/sell decisions. There are hundreds of visible patterns in every chart which decides the course of price movement. Likewise there are several useful indicators which can be easily quantified and converted into algorithms. Most of these indicators are based on underlying price action while some depends on momentum and volume.
Reply With Quote


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

» Boards

All times are GMT -4. The time now is 01:30 AM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.