What Is Price Action? 3 Best Ways to Make Huge Profit Trading With Price Action Strategies

What Is Price Action? 3 Best Ways to Make Huge Profit Trading With Price Action Strategies

Price action trading is a simplistic approach to trade the forex markets that is free from the clutter and confusion of overly complicated indicator based systems. In another term, it is studying the patterns in which the forex trend moves over a period of time with or without the use of indicators. It is an ancient way of trading currency before the existence of platforms and indicators. Now a days, many powerful but simple softwares have been developed to trade forex price action successfully without wasting your time.

But it is when you learn how to read this price trail you will have the power to see clearly and understand what is happening in any forex currency pair at any given time and also trade exactly as the professionals do. You don't even need to be a forex guru before you can start doubling your forex account. The following are three things you need to understand about price action strategies.

Firstly, do you know moves the market? Imbalance of supply and demand moves price. Price moves in trend and the trend moves in waves. There are two types of waves are impulsive waves and corrective waves. If you really want to make money consistently in forex, trade much of impulsive waves. Why? It is because they are longer, bigger, quicker, and difficult to reverse and more rewarding. Correlative waves are just pullback, just counter trend. If you are newbie, you may not have the proper skills to trade it. You must know an impulsive wave that is very important. It is just a movement of price along the trend caused by momentum.It will be difficult to reverse it. A loss in momentum is not even a sign of trend reversal.

Secondly,entry is nothing, exit is more important than entry. Ninety seven percent of traders think entry is more important. I will say they are wrong. Exit is the most important aspect of forex trading with price action. For example, if you enter a trade, and make few pips and you exit your trade, you will make money. If you can do that consistently you will start to turn your platform to money printer. In other words, trading price action let you feel the market openly. You will see what majority of the traders see. You will be able to wait for the right time, enter the market as others do and exit when they do.

Thirdly,You need to know that each day is different in the market. In every trade you have to manage differently depending on the situation. That is why majority of the indicators will not work out properly. News releases and speeches have a lot of impact in determining price action. You need to analyze your trading daily and weekly to know when to stay in or out completely. That is why majority of the robots fail. Many traders give their chief executive positions to robots. How do you expect good jobs done all the time? I make a trading plan and I stick to it from time to time.There is only one hard rule in trading; that is protecting your capital. Do whatever you need to do that.Fight with the market to protect that. Profit will come if you can save your capital. Let the market do whatever it wants to do, just save yourself. We don't know the outcome of each trade.

I trade as long as the setup meets my trading criteria. I use powerful strategies based on price action I learnt from one of my mentors. It works all the time to keep my trading simple I make more money all the time.If you trade with very simple price action software or indicator, you will easily make money over and over again. You will even double your account easily in less than 10 weeks as I always do by just spending 10 minutes daily and get this powerful revolutionary trading system and stop losing your money.

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