subject: Price Action Forex System [print this page] Price Action Forex System Price Action Forex System
To effectively and efficiently trade the forex market you need a system that is designed around a trading strategy like price action analysis. Trading off of simple price action setups will provide you with a clear trading method that is both definable and flexible at the same time. Many forex traders have difficulty finding a trading method that possesses both of these characteristics, typically a method will be either a rigid set of trading rules with no flexibility, or so flexible that you aren't even sure how to spot an entry.
When trading off of a price action forex system, you will learn how to develop a flexible market mindset, this will allow you to adapt to changing market conditions. So, rather than following a strict rule set which essentially is built on the false assumption that the market is completely predictable, trading with a price action forex system will provide you with the ability to use discretion and pick and choose your trades. Many people argue against this sort of discretionary approach to trading, however, this is a curious fact because trading is almost an entirely human discretion based profession. Financial markets are driven on human beliefs about whether the price of a security is too high or too low. Therefore, the very heart and soul of any financial market is human discretion, so to believe that you will be better able to interpret price movement derived from human discretion by any means other than the discretionary chart reading skills that a price action forex system develops in you, is simply erroneous.
There are various websites on the internet teaching interested people how to trade with price action. However, there is a certain peace of mind and clarity that is achieved by obtaining your price action training from a respected authority via a comprehensive price action forex system. One of the better price action forex systems out there is the one offered by Nial Fuller. His product is more of an instructional course on forex and price action, rather than a "system". However, after taking his course and applying its concepts to the charts, it is not difficult to develop your own trading plan or "system".
Successful forex trading is all about harnessing your ability to remain calm and objective as you interact with the market. One prerequisite to obtaining and maintaining these abilities is that you are using a trading method which is not confusing or complicated. Trading forex off of a price action system will allow you to trade a method that is not complicated and thus will allow you to remain calm and collected as you trade. One of the most widely spread mistakes that beginning traders make is to believe that through analysis-paralysis they will somehow be able to control the forex market. All you can do is try to read what the market is telling you as calmly and clearly as possible, without the influence of emotion. A comprehensive price action forex system is your best bet for achieving this feat.
