When considering trading the forex market it is important that you know what strategy you are going to employ before you start trading real money. Trading the forex market with price action strategies can be a very effective and efficient way to make your trading decisions. When you understand how forex price action works, you put yourself in the very powerful position of being able to accurately read a "naked" or indicator-free price chart. Having the knowledge to read a price action forex chart will also give you the power to read price charts in any financial market, not just forex, should you decide to do so.
By using price action setups to trade the forex market you will effectively be basing all of your trading decisions off of a simple and clear trading mindset because the simplicity of forex price action trading will permeate throughout all of your trading activities. Many beginning and experienced forex traders alike get caught up with trying to trade overly-complicated trading systems that seem effective on the surface but in the end bring nothing but struggle, lost time, and lost money. If you are aware of this fact before you get to deep into forex trading you can prevent yourself from falling into this common trap of trying to use overly-complicated trading systems by employing a simple yet very effective strategy like forex price action trading strategies.
Price action forex trading will provide you with high probability trade setups that can help you time your entries into the market much better and more accurately than most lagging indicator methods can. This is because you are getting the trade setups as they develop instead of trying to interpret some indicator's depiction of past price movement. Many of the forex price action trading setups that various price action mentors teach are simple 1, 2, or 3 bar setups that can be entered immediately after the price bar closes out. This means you have the potential to enter the market as close to a turning point or trend resumption point as possible, granted there is some discretion involved and any strategy will always experience losing trades including price action trading; however, if you become a good discretionary forex price action trader there really is no more accurate trading strategy in existence.
To effectively learn to use forex price action trading on an on-going basis it is a good idea to enlist the help of a price action trading mentor or some other experienced forex price action trader you may know. The discretionary aspect of price action forex trading is something that is easiest to learn from someone that has already mastered it; otherwise you might have to endure a lengthy period of trial and error. If you stick to simple yet effective forex trading strategies like forex price action trading, you will give yourself an excellent chance at experiencing a much more streamlined and profitable career as a forex trader now and into the future.
