Why Price Action Is So Imprortant
I would have to say that the most difficult thing for many new and unsuccessful traders to overcome is that they don't really ever learn to have a strong grasp of the market. In fact, most are probably dealing with lagging indicators. These kind of trading systems usually rely heavily on when these indicators match the same trading direction. I'm not trying to demean this, because I actually used to trade like this. But when you take one loss after another, you tend to look for better ways to trade.
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.
I don't mean to be callous but the markets are not concerned about what your indicators are showing you. To the big traders, it means less than nothing. Think about it. Study all the famous and successful traders in history. Do you honestly think that most of them really cared about what the stochastics were doing? NOPE. However, if you do take the time, you will notice that most of these traders really only care about one thing: 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.
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.
But something interesting happened. I realized everything I need is right IN FRONT OF ME. I just have to eliminate all the crap that's blocking my view. I used to trade with sctochs, FIBOs, Moving averages. It turned out to be the last forex training I'd ever need (It feels really good to say that). I thought I would be wandering around aimlessly from one system to another for as long as I live, or until I was dead broke, which ever came first. But, eventually I just found out that less is more. Not until you see the market's movement in all its glory with no interference, then you can't really say "I am a trader". - 23167
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.
I don't mean to be callous but the markets are not concerned about what your indicators are showing you. To the big traders, it means less than nothing. Think about it. Study all the famous and successful traders in history. Do you honestly think that most of them really cared about what the stochastics were doing? NOPE. However, if you do take the time, you will notice that most of these traders really only care about one thing: 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.
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.
But something interesting happened. I realized everything I need is right IN FRONT OF ME. I just have to eliminate all the crap that's blocking my view. I used to trade with sctochs, FIBOs, Moving averages. It turned out to be the last forex training I'd ever need (It feels really good to say that). I thought I would be wandering around aimlessly from one system to another for as long as I live, or until I was dead broke, which ever came first. But, eventually I just found out that less is more. Not until you see the market's movement in all its glory with no interference, then you can't really say "I am a trader". - 23167
posted by X - Men @ 4:01 AM
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