Why Every Trader Should Know Price Action
If I were to have to pick the number 1 thing that many new traders have to deal with, its the fact that they never really take the time to truly learn and understand the complexities of the market. Most, in fact rely strictly on using lagging indicators. These are the kind of trading systems where the trader is basically hoping that all his indicators line up in the same direction. I'm not trying to make fun of these traders, because this is exactly how I used to trade, and believe me, I did not have much success.
Using these kind of trading techniques can't really be expected to work. Making money in the market is a little more complex than that. Think about it. Your buying and selling is based solely on indicators which are only programmed to let you know what has already happened in the market.
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!!!!
When it comes to price action, they might not have used it all in the same way, but I can assure you that price movement was their main criteria. I don't care if its stocks, bond, the S&P, etc....It simply comes down to what is the price doing, and how can I make money from it. Honestly, there isn't really that much separating all the successful traders in the world with those that have failed or are failing. It's not as if these succesful traders are that much brighter than the unsuccessful ones. Most of them didn't graduate from Harvard with honors. In fact, you'd be surprised to know that many of them barely finished high school.
When it comes to the rich traders and how they became successful, you have to know that they are to truly and understand what the market is saying to them, much like a person would read a book. These traders actually understand the fundamental reasons as to why price will start and stop at certain price levels. It's not just a bunch of lines on a chart. It's more complex than that. You can use this kind of information you get rid of that job you can't stand earn a living, trading the market.
Its not really difficult. Anybody can understand price action. Its just that most people don't want to take the time to really understand how to read the energies of the market. Everybody always wants that holy grail or magical indicator that people can just plug into their trading platform and it'll do all the work for you. Well, it doesn't work like that. It would be a great if it did, but it doesn't. I had to learn that the hard way. But, as is life, you live and you learn.
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. - 23218
Using these kind of trading techniques can't really be expected to work. Making money in the market is a little more complex than that. Think about it. Your buying and selling is based solely on indicators which are only programmed to let you know what has already happened in the market.
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!!!!
When it comes to price action, they might not have used it all in the same way, but I can assure you that price movement was their main criteria. I don't care if its stocks, bond, the S&P, etc....It simply comes down to what is the price doing, and how can I make money from it. Honestly, there isn't really that much separating all the successful traders in the world with those that have failed or are failing. It's not as if these succesful traders are that much brighter than the unsuccessful ones. Most of them didn't graduate from Harvard with honors. In fact, you'd be surprised to know that many of them barely finished high school.
When it comes to the rich traders and how they became successful, you have to know that they are to truly and understand what the market is saying to them, much like a person would read a book. These traders actually understand the fundamental reasons as to why price will start and stop at certain price levels. It's not just a bunch of lines on a chart. It's more complex than that. You can use this kind of information you get rid of that job you can't stand earn a living, trading the market.
Its not really difficult. Anybody can understand price action. Its just that most people don't want to take the time to really understand how to read the energies of the market. Everybody always wants that holy grail or magical indicator that people can just plug into their trading platform and it'll do all the work for you. Well, it doesn't work like that. It would be a great if it did, but it doesn't. I had to learn that the hard way. But, as is life, you live and you learn.
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. - 23218
posted by X - Men @ 1:38 AM
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