If you have being a constant visitor to this blog, you will notice that i always emphasis on you learning how to trade Price Action. this is the only trading method i know that has been very successful for hundred of years.
Traders after traders have used this methods and it has worked and still working. Well enough of the talks; let's go into what price action is
what is Price Action?
Price Action has to do with the analysis of price market movement over time. This is one big edge a trader who uses this method has over other traders who don't. what i mean is that; a trader who understands and uses Price Action knows the directional bias of the market and he or she can trade from any resulting setup that forms during the process.
In some of my post i already told you that i don't use EAs, Indicators or even trade the news. Now this is why i don't do that as a Price Action trader.
All economic variables do create changes in price movements and this changes must definitely reflect on the price chart. (whatever chart you are using). This is why i don't trade the news, because everything the news will say that will ultimately have an impact on the currencies including market direction; will all be reflected on the price chart. But only a Price Action trader will be able to look at that chart and interpret it and not lose the meaning of that interpretation.
Who is Munehisa Honma?
No too much grammar. He was the one who invented candle stick, candle stick charting and real price action technical analysis. To all Price Action traders, he is considered the father of PRICE ACTION TRADING. He was a Japanese trader that leaved from 1724-1803. As one of the most amazing traders in the world, he is rumored to have made the equivalent of $10 billion USD in today's dollar rating in the Japanese rice market. He was such a skilled trader that he served as major financial adviser to the Japanese government in his days and was later ranked to the position of a honorary samurai.
Rumor also had it that he once had a 100 profitable trades in a row using his price action strategy. Honma began recording price movements in the rice market on paper. he practically drew price pattern on his parchment every single day. Honma began to see repetitive price pattern on the price bars he was drawing and from there he began to name them including the famous Japanese candle stick pattern you know, spinning tops, doji, hagging man, shooting star and the rest. He was called the god of trading. Please you can do more researches about Munehisa Honma.
I believe if you have been doubting the Price Action strategy, i think Munehisa has clarified you on it? Well if he was such a successful trader trading Price Action, i think i had better follow his steps.... mehn i wanna win a 100 trade in a roll too. but it must first begin with you learning the Price Action method that he founded.
What type of trader have you decided to become?
Do i still need to convince you that you have to become a price Action trader to help you trade successfully? In fact i had no reason to create this blog not to talk of this post; i could keep everything and knowledge i have to myself (of course that's what Nigerians do best). but hearing the complains of my friends made me to start this blog and really teach you how you too can trade properly, joining in the 10% who make really money. My friend recently told me how he lost N15 million Naira to forex; in fact he became so discouraged that he won't trade again. But i found out he was using indicators, Robots and HE WAS NOT TRADING THE PRICE ACTION STRATEGY. I for one, has become this successful a trader because i sat down and tried to discover the right strategy to use. and let me say this: discovering the right strategy to trade the market was not what really mattered in the whole picture, it was me sticking with the strategy the mattered.
You may not be a new trader reading this post. But still you are losing money to the market because you do have a trading strategy but you don't stick with it. The key to trading right is in my own term and for the purpose of this post 2 things: DISCOVER YOUR OWN STRATEGY (I do advice you use Price Action strategy) AND STICK TO YOUR DISCOVERY. It's that simple!
But sha any method you choose to adopt is fine provided it can help you to spot out high probability trades and give you great profit, go on with that. and good luck. But to that new trader who is looking for the best way to learn and trade forex; i will like you to stick with this blog and understand what i am teaching about Price Action. This is best way i know from history that you can trade and become profitable in the long run and some 'useless' indicator or EAs. In fact in closing i say this; every forex indicators you use on those chart were derived from price action. So what is the use of an indicator if i really know how to read Price Actions and their behaviors from my Chart?
This is a good lesson on price action i think. and i hope you leave me a comment if you understand the post. But if you don't, always feel free to ask your questions in the comment section below.
See you soon!
I am Wealth Peters
CEO and Head Coach, Pips Akademy
Saying: Be a great Trader
Traders after traders have used this methods and it has worked and still working. Well enough of the talks; let's go into what price action is
what is Price Action?
Price Action has to do with the analysis of price market movement over time. This is one big edge a trader who uses this method has over other traders who don't. what i mean is that; a trader who understands and uses Price Action knows the directional bias of the market and he or she can trade from any resulting setup that forms during the process.
In some of my post i already told you that i don't use EAs, Indicators or even trade the news. Now this is why i don't do that as a Price Action trader.
All economic variables do create changes in price movements and this changes must definitely reflect on the price chart. (whatever chart you are using). This is why i don't trade the news, because everything the news will say that will ultimately have an impact on the currencies including market direction; will all be reflected on the price chart. But only a Price Action trader will be able to look at that chart and interpret it and not lose the meaning of that interpretation.
Who is Munehisa Honma?
No too much grammar. He was the one who invented candle stick, candle stick charting and real price action technical analysis. To all Price Action traders, he is considered the father of PRICE ACTION TRADING. He was a Japanese trader that leaved from 1724-1803. As one of the most amazing traders in the world, he is rumored to have made the equivalent of $10 billion USD in today's dollar rating in the Japanese rice market. He was such a skilled trader that he served as major financial adviser to the Japanese government in his days and was later ranked to the position of a honorary samurai.
Rumor also had it that he once had a 100 profitable trades in a row using his price action strategy. Honma began recording price movements in the rice market on paper. he practically drew price pattern on his parchment every single day. Honma began to see repetitive price pattern on the price bars he was drawing and from there he began to name them including the famous Japanese candle stick pattern you know, spinning tops, doji, hagging man, shooting star and the rest. He was called the god of trading. Please you can do more researches about Munehisa Honma.
I believe if you have been doubting the Price Action strategy, i think Munehisa has clarified you on it? Well if he was such a successful trader trading Price Action, i think i had better follow his steps.... mehn i wanna win a 100 trade in a roll too. but it must first begin with you learning the Price Action method that he founded.
What type of trader have you decided to become?
Do i still need to convince you that you have to become a price Action trader to help you trade successfully? In fact i had no reason to create this blog not to talk of this post; i could keep everything and knowledge i have to myself (of course that's what Nigerians do best). but hearing the complains of my friends made me to start this blog and really teach you how you too can trade properly, joining in the 10% who make really money. My friend recently told me how he lost N15 million Naira to forex; in fact he became so discouraged that he won't trade again. But i found out he was using indicators, Robots and HE WAS NOT TRADING THE PRICE ACTION STRATEGY. I for one, has become this successful a trader because i sat down and tried to discover the right strategy to use. and let me say this: discovering the right strategy to trade the market was not what really mattered in the whole picture, it was me sticking with the strategy the mattered.
You may not be a new trader reading this post. But still you are losing money to the market because you do have a trading strategy but you don't stick with it. The key to trading right is in my own term and for the purpose of this post 2 things: DISCOVER YOUR OWN STRATEGY (I do advice you use Price Action strategy) AND STICK TO YOUR DISCOVERY. It's that simple!
But sha any method you choose to adopt is fine provided it can help you to spot out high probability trades and give you great profit, go on with that. and good luck. But to that new trader who is looking for the best way to learn and trade forex; i will like you to stick with this blog and understand what i am teaching about Price Action. This is best way i know from history that you can trade and become profitable in the long run and some 'useless' indicator or EAs. In fact in closing i say this; every forex indicators you use on those chart were derived from price action. So what is the use of an indicator if i really know how to read Price Actions and their behaviors from my Chart?
This is a good lesson on price action i think. and i hope you leave me a comment if you understand the post. But if you don't, always feel free to ask your questions in the comment section below.
See you soon!
I am Wealth Peters
CEO and Head Coach, Pips Akademy
Saying: Be a great Trader
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