How to Trade With Price Action – 3 Simple Steps
If you’ve decided to learn to trade Forex and want to learn ‘Price Action’ trading strategy, but you don’t have any idea how to begin, then this Article will help to begin with Price Action Method.
In this article, I will explain the Price action method in simple 3 steps. Following are the steps that should be implemented to start with this method.
Learn the basics of Forex trading
In order to get started trading with Forex price action, the first thing you need to do is to build a solid foundation on the core and fundamental part of Forex Trading. It is important to know what is forex market is, how it’s traded and why this market exists. Because without this learning, you will be unable to stay long on this platform. The Basics and Advance learning about this platform will get you up to speed on the way and it will allow you to make a seamless transition into learning how to trade with price action strategies.
Take the ‘Junk’ off of Your Charts
The next thing you must do right now before you commence any trading is to strip off all your indicators and make your trading charts naked. Because, Indicators on forex charts are complete waste of time. It is like you are using second hand information and not firsthand price action from the actual market itself. Because, it’s the best time that you completely rid yourself of complex and complicated trading methods or strategies. It is as usual that, when you create a simple and logical forex trading plan and around the ‘core’ price action strategy, it will make your trading relatively stress free and this will work to influence positive trading habits.
Learn Simple Price Action Trading Strategies
Trading forex with price action means that you are trading off the raw price movement of the market. There is no fancy systems or strategies. Just plain vanilla price action in a clear and uncluttered price chart and graphs. Within all the methods a trader could use to make money on foreign exchange market fluctuations. But the most profitable are often the simplest and are usually widely overlooked or dismissed by the masses.
However, in Forex Trading, Price action trading is one of those undiscovered gems. Whenever you strip off all the confusing indicators and other ‘magic’ trading methods from your charts and learn a few price action trading strategies. These could be the simple visual price patterns. If you deeply learn the signals will start to ‘jump’ out at you with extreme clarity.
The implementation of price action strategy in forex trading allows you to trade like a pro and with higher winnings. So, start to learn to trade forex today by downloading a forex charting platform and set up daily candlestick charts. Try to keep it as simple as possible by learning to read the plain vanilla price that you see on the charts and don’t cloud up the chart with complex methods and indicators. Always try to keep it basic and clean.