Why More People Don't Trade Price Action

Trading Price Action has go to be the most overlooked trading method in the forex market. There is a very simple reason I say this. Just look at how many people fail at trading forex. If you haven't heard the statistic, here it is: 95% of people who trade forex, lose money.I know reading this may make you feel like you don't have a shot at being successful at trading, but as long as you don't fall for all the shortcuts that you see other people doing, then you have an excellent chance of becoming a rich and successful trader. So how is it done? How can you become one of the rich traders. It's simple. Just do what they do. If you are a student of trading, you should know that almost every single successful trader lives and dies by trading price action. The only thing you have to know is that certain traders trade price action a little differently.But the important thing you have to remember is that most successful traders aren't big fans of trading indicators like Stochastics. Traders have just gotten to accustomed to these lagging indicators telling them when to trade. You can tell by going to any forex forum. You'll find threads full of charts with every imaginable indicator being plastered on the charts. You can tell that nobody is even paying attention to the price. They are fixated on what these indicators are telling them. So you can tell that price action trading has never even entered their mind. The problem with using indicators like Stochastics is that they are completely lagging. You are only being told what has already happened, and that does nothing to help you. But with price action, you find out truly what the markets are doing. You just have to be attentive. The only problem is its hard to actuallyy see what the market is doing, if all these indicators are blocking your view.--You can find out more about this as well other forex trading training.Source: http://www.articletrader.com

Related Posts :

No comments:

Post a Comment