Why Every Trader Should Know Price Action
Well, by far, the single hardest thing for unsuccessful traders to overcome is that they just don't have a full understanding of the market. They are probably trading based on some kind of lagging indicator(s). Their system usually relies on something like "I'll buy or sell once all these indicators are aligned". I'm NOT knocking it. I actually used to trade this way. But after taking so many losses, I figured maybe I'm not looking at this the right way.
After all, can you honestly say that you understand what the market is doing when all you are doing is looking at some kind of indicator that is telling you WHAT HAS ALREADY HAPPENED? Of course not!!!!
NEWSFLASH: The market could care less what the stochastics are telling you. It serves absolutely no purpose, and I can prove it. It's real simple. How many successful traders in the world do you know that just look at a stochastics indicator to let them know what the market is doing? I frankly haven't heard of too many. But if you really study the most famous traders in the world, you'll know that the majority care about three things: PRICE ACTION PRICE ACTION PRICE ACTION!!!!
There is one thing that you have to know about price action. These successful traders might not have used in the same exact manner, but you can be rest assured that the concepts of price movement were incredibly important to the reason why they would buy or sell. It really just boils down to what has thee price been doing, and how can I profit from it. The harsh truth is there is not really that much separating the rich traders and all the traders who are crashing their accounts. It's not like most of the rich traders went to an Ivy league college. In fact, you will be quite stunned to know that some of them barely got out of high school.
The rich simply enjoy their trading success because they just know how to look at a chart and simply being able to read and understand the market, almost as if it was a book. These are the kind of traders just know why and when the market prices start and stop at certain levels. It's not just a bunch of random colors and lines on a trading platform. There is a lot more to it than that. This is the kind of information that can be used to quit your job and make money full time in the market.
It's actually not as difficult as you may think it be. Just about anybody can understand the concept of price action. It really comes down to the fact that most people don't want to take the time to really grasp what makes the market move. They would much prefer to spend most of the time looking for myths like holy grail or some other magical indicator, that people can just slap on a chart and make millions of dollars. That's not the way it really works. The faster you know that, the better. I had to learn that the hard way.
The most difficult part of this, is to get somebody to actually teach you how to visualize the market in this way. It's quite difficult to learn yourself. If it wasn't, then we would all be millionaires. The majority of the time you just need someone to guide you so you can understand the information that you need to know, and after that you are home free. This is what Trading in The Buff does. I have purchased other courses before and I have been burned. With so many courses out there, it's hard to see the differences between the junky courses and the real courses. But I thought I would give this a shot.
Once I got done with the course, I noticed something truly amazing. I became really aware of the fact that all I ever needed to trade was right in front of my very eyes and I never noticed it before. Before this I used to trade with just about every generic indicator I could get my hands on.. But thankfully with the course it has become the last kind of forex training that I would actually need. I really thought I would just be going from one course to the next. - 23226
After all, can you honestly say that you understand what the market is doing when all you are doing is looking at some kind of indicator that is telling you WHAT HAS ALREADY HAPPENED? Of course not!!!!
NEWSFLASH: The market could care less what the stochastics are telling you. It serves absolutely no purpose, and I can prove it. It's real simple. How many successful traders in the world do you know that just look at a stochastics indicator to let them know what the market is doing? I frankly haven't heard of too many. But if you really study the most famous traders in the world, you'll know that the majority care about three things: PRICE ACTION PRICE ACTION PRICE ACTION!!!!
There is one thing that you have to know about price action. These successful traders might not have used in the same exact manner, but you can be rest assured that the concepts of price movement were incredibly important to the reason why they would buy or sell. It really just boils down to what has thee price been doing, and how can I profit from it. The harsh truth is there is not really that much separating the rich traders and all the traders who are crashing their accounts. It's not like most of the rich traders went to an Ivy league college. In fact, you will be quite stunned to know that some of them barely got out of high school.
The rich simply enjoy their trading success because they just know how to look at a chart and simply being able to read and understand the market, almost as if it was a book. These are the kind of traders just know why and when the market prices start and stop at certain levels. It's not just a bunch of random colors and lines on a trading platform. There is a lot more to it than that. This is the kind of information that can be used to quit your job and make money full time in the market.
It's actually not as difficult as you may think it be. Just about anybody can understand the concept of price action. It really comes down to the fact that most people don't want to take the time to really grasp what makes the market move. They would much prefer to spend most of the time looking for myths like holy grail or some other magical indicator, that people can just slap on a chart and make millions of dollars. That's not the way it really works. The faster you know that, the better. I had to learn that the hard way.
The most difficult part of this, is to get somebody to actually teach you how to visualize the market in this way. It's quite difficult to learn yourself. If it wasn't, then we would all be millionaires. The majority of the time you just need someone to guide you so you can understand the information that you need to know, and after that you are home free. This is what Trading in The Buff does. I have purchased other courses before and I have been burned. With so many courses out there, it's hard to see the differences between the junky courses and the real courses. But I thought I would give this a shot.
Once I got done with the course, I noticed something truly amazing. I became really aware of the fact that all I ever needed to trade was right in front of my very eyes and I never noticed it before. Before this I used to trade with just about every generic indicator I could get my hands on.. But thankfully with the course it has become the last kind of forex training that I would actually need. I really thought I would just be going from one course to the next. - 23226
posted by X - Men @ 4:03 AM
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