Price Action – Why Professionals Trade It by Lauren Page, If you had to single out one style or method of trading that is least used by the majority of the trading public it would have to be price action. I can say this with great confidence because the hard fact is that 95% of traders are losing money right now. Believe me when I tell you that I know how sad and depressing these kind of statistics are. But unfortunately, most traders don’t learn from their mistakes. In fact, I’d be willing to say that you are probably part of the 5%. So how is it done? This is so easy, that I can’t believe more people don’t think of this. Why don’t you just do what the rich and successful do? All you need to do is some simple research and realize that many of the most of powerful traders in the world rely on price action as their only form of technical trading. Obviously different traders use price action in different ways. But the main point is almost none of them use indicators like Stochastics as part of their trading methods. Who does use indicators? I don’t want to pick on them, but if you go on almost any forex forum, you’ll be stunned to see how many traders rely on indicator heavy systems. THEY DON’T EVEN LOOK AT THE PRICE! All that matters to them is what the indicators are showing. It should be becoming quite clear as to why 95% of the public fail at trading forex. The thought of trading price action never even crosses their mind. They’d much prefer some random indicators, which are just lagging formulas telling you what has already happened, to tell them when buy or sell. I don’t know of another trading method which gives you such a pure and honest look at the market quite like price action. It allows you to see the behind the curtain and really get an X-ray of what the market has to offer. About the Author: To find out exactly how I was able to get a forex trading education visit my website about forex trading training.
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Published on Nov 13, 2009
I don’t know of another trading method which gives you such a pure and honest look at the market quite like price action. It allows you to s...