Price action Forex trading is a trading style that does not rely on indicators to determine trading decisions. Price action traders use naked charts, and study how price behaves over multiple time frames, and take their trades based on what the chart is telling them to do, rather than what an indicator is telling them to do. By studying price action you will learn how to trade Forex the right way. All professional traders use price action in their trading.
Why should you trade price action?
I am a successful price action trader, and i firmly believe that price action trading is far superior to any other form of Forex trading. Using lagging indicators to give you entry and exit points is fundamentally flawed in my opinion, as the information you are using to make your trading decisions is always delayed.
Indicators will tell you what has happened in the past, and from that information you have to try and decide what is likely to happen in the future. Indicators will not tell you what is happening right now, price action will.
Studying a clean price action chart is the only way that you can get a true picture of what is happening to price on a tick by tick basis. The price is the most important thing in Forex trading, and in my opinion that is what you should be looking at.
Learn how to trade Forex the right way.
Price action Forex trading is an art that has to be learned and developed over time, but once you learn how to trade price action, you will always be in the best position possible to capitalize on market moves and bank lots of pips, which is what Forex trading is all about. Price action is the key to making consistent profits day in day out from the Forex market.
If you are struggling with your trading you are probably be using too many indicators to give you entry and exit signals. Putting indicators all over your chart will do you no good whatsoever, it will just cloud your judgement. You need to take all the indicators off the chart and study price.
My website covers basic price action strategies that you can use to improve your trading. I trade using my advanced price action trading strategies, that i have developed over 9 years of trading and chart study. For more information on my advanced price action trading course click here.
Forex News.
I don’t trade the news, but its always a good idea to be aware of the latest market moving news releases, as certain releases can dramatically affect the markets.
The economic calendar below shows the latest news announcements for each country, and their potential impact on Forex prices.
