| 3 Ways To Assure You Learn Price Action Forex The Right Way |
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| Written by Edward Lomax |
| Friday, 11 June 2010 15:50 |
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One of the few things Forex traders can agree on is that Price Action Forex Trading is one of the best ways to trade currency. Agreeing on how to trade price movement or how to learn to trade based on price is another story. And to make things more complicated still, many beginner traders ignore price action all together and choose hyped indicators and robots.
One of the few things Forex traders can agree on is that Price Action Forex Trading is one of the best ways to trade currency. Agreeing on how to trade price movement or how to learn to trade based on price is another story. And to make things more complicated still, many beginner traders ignore price action all together and choose hyped indicators and robots. The sad fact is, many new traders don't really want to learn what price movement means, and look to a magic combination of indicators to show them when to place their trades. Or they try to avoid any trading decisions at all by using a trading method programmed into an automated trading robot. This is not to say there are not some good indicators and robots out there. But the majority of Forex traders that "make it" only started to see success when they learned how to make their own trading decisions based on how price moves on their charts. Just think about it. How are you going to know if the indicators or robots are worth using if you know nothing about trading or what the movement of price means on your charts? As a matter of fact, learning price action trading can help you choose the best indicators and robots to use to make your trading easier. Let's go over 3 keys to kick-start your price based Forex trading... Choose A Forex Mentor Already Using Price Action Trading Systems Successfully It is becoming increasingly harder to know who to trust when looking for the right Forex teacher. One thing is for sure, you want to learn from an already successful trader with a proven track record. You want someone to teach you who actually trades the strategies they are going to be teaching you. Otherwise, you are just getting theory that has not been battle tested. A lot of times learning the strategies themselves is easy, until you try to apply them under real market conditions. This is why you need someone who trades the strategies on a daily basis to teach you what to expect in live trading. And that experience is going to make all the difference. Learn Forex Price Action In The Way You Best Learn People learn best in different ways. Therefore, I suggest you try to learn in the way that you learn best. If you are the kind of person that learns best by reading, then look for a program with a lot of written material. If you are a visual learner (like me), then video is probably your best bet. And if you need a lot of personal contact and all your questions answered before you put anything into action, I think a program with webinars are your best bet. I personally choose video because you can see what you are learning and can watch the material as many times as you need. I've found books ok for learning one specific concept of trading, but not for an overall trading experience. And while I have attended a lot of webinars, the other traders can sometimes be distracting to the learning process. Choose The Forex Price Action Trading Method That Matches YOUR Trading Style This is a big one. If you don't pick the price action trading method that fits your trading personality, you won't trade the system. At some point, the trading system you use has to FEEL like it is yours. If you have to force yourselves to trade at times that are uncomfortable you won't stick to the program. Take my world for it, finding the right price action Forex trading system for YOU is the biggest key to becoming a successful trader. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Every currency trader should learn Price Action Forex. Hector DeVille, a professional Forex trader, teaches you his 3 SMA Forex Method absolutely free. |