Kick Start Your Price Action Trading Skills
Price action is one of the best ways to profit in the Forex market… this is one of the few things successful traders can agree on. Agreeing on how to trade price action or how to learn to trade price action is another story. But unfortunately, many would-be traders get sidetracked and distracted with the claims of indicators and robots and try to by-pass learning price action.
Many traders start out looking for the magic combination of indicators allowing them to crush the Forex markets without really having to know anything about the way price moves, or what those movements “mean”. Or, they take an even lazier route and try to put their Forex trading on autopilot by buying someone elses trading strategy programmed into a robot. I’m not saying there is anything wrong with using indicators or robots, I use both. But the truth is, many traders only start to see success after they learn price action trading.
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Just think about it… how are you going to know if the indicators or robots are worth using if you know nothing about trading or what the movement of price means on your charts? If anything, learning price action Forex trading can help you identify the best indicators and robots… as well as being a very profitable stand alone trading system. Let’s go over 3 keys to kick-start your price action Forex trading…
Learn Forex Price Action From An Already Successful Price Action Trader
There are so many people out there offering to teach you price action it is becoming increasingly harder to know who to trust. But one thing is for sure… you want to learn from an already successful trader with a proven track record. You want someone to teach you who actually trades the strategies they are going to be teaching you. Otherwise, you are just getting theory that has not been battle tested.
Often, learning price action trading strategies is very simple… until you try to do them yourself under live market conditions. And this is why you need a successful trader… they can teach you the subtle nuances of trading these strategies live. And that experience is going to make all the difference.
Learn Forex Price Action In The Way You Best Learn
People learn best in different ways. Therefore, I suggest you try to learn in the way that you learn best. If you are the kind of person that learns best by reading, then look for a program with a lot of written material. If you are a visual learning (like me), then video is probably your best bet. And if you need a lot of personal contact and all your questions answered before you put anything into action, I think a program with webinars are your best bet.
I like videos over books and webinars because I like to be able to see what I am learning. Books are great to learn the concepts, but lack the “aliveness” of trading under real market conditions. Webinars can be great as well, but I find it distracting at times because the other traders on the webinars come from very different backgrounds and experience levels.
Choose The Forex Price Action Trading Method That Matches YOUR Trading Style
This is a big one. If you don’t pick the price action trading method that fits your trading personality… you won’t trade the system. At some point, the price action trading system you use has to FEEL like it is yours. If you have to force yourselves to trade at times that are uncomfortable, or use stop losses that go against your account size… you won’t stick to the program. Take my world for it… finding the right price action Forex trading system for YOU is the biggest key to becoming a successful trader.
Have you taken the Price Action Trader Evaluation yet? It can help you identify the best price action Forex trading resource for you!