Price Action Trading Cource

امتیاز 5.00 ( 1 رای )
حجم فایل
1.46 MB
تعداد صفحه
102
رسته
Forex
سطح مطالب
سال تولید/ترجمه
2008
تعداد بازدید
377 بازدید
رایگان
دانلود این فایل فقط برای اعضا سایت فعال می باشد
  دانلود رایگان

Strategies and concepts to achieve wealth from financial markets

The concept of forex trading

Directional Forex Trading is the art of using price movements in interbank Foreign Exchange or Capital markets to make profit. Traders may be involved in a trade for 1 second or 1 decade (10 years), depending on their trading method and trading plan.

Our focus is the short term view of price facilitation from point x to point y.

To profit from market movements, we must predict price direction correctly, execute a trade entry, then manage the position between our predetermined stop loss level and desired take profit level.

To win in the long term, traders must develop a trading plan with a statistical edge. Price action, market trends, and support / resistance become our trading tools in creating this edge.

Every trade setup carries a unique degree of risk verse reward . The cliché – “make your winners larger than your losses” is the most obvious road to wealth. Often, traders lose focus, and they forget what each trade can realistically offer them in terms of profit. Markets do not move in straight lines, yet traders hold on to winners way too long expecting some giant winner, and soon .. They see these profits evaporate. You must lose your greedy attitude and set your rules! My trading setups aim to deliver aprox 3 to 4 times risk, and I am happy to take that kind of profit. This means I can win 1 in ever 3 or 4 trades and still make decent profits over a sample of trades.

When forex trading, we are effectively running a company. Trading Losses are the cost of business, wins are our revenue. Worst case scenario, on a $10,000 size account, we have to run this company at 500 % per annum just to make a living!. Difficult you ask? YES!

A robust winning edge ..

Traders should use entry methods which have a robust edge, even if the winning edge is small, we favor using an entry mechanism that has a tendency to repeat itself, as apposed to entering randomly.

Depending on our risk vs. reward, the ‘edge’ could be as low as winning just 25% percent of all trades. Thehigher the risk reward, the lower the required win rate. The lower the risk reward, the higher the required win rate.

Methods which carry a slight winning edge in the market, combined with a high risk vs. reward, will keep a trader in the game over a large series of trades.

A robust edge is not the single ingredient in a trading plan, there are naturally , many other key factors which go hand in hand when each trade is placed, I.e. position size..

All traders who fail in the forex market are no better than a gambler at a casino. These ever persistent “punters” trade with real money, they ride the emotions, the highs and lows, similar to that of a black jack player. They lack knowledge and certainly have no trading method. There is no plan, and no money management or staking model, and these “thrill seekers” certainly all lack the emotion to become successful.. You must do the opposite to this large crowd of losers if you want to win.

A robust edge is a proven market event, it’s repetitive price event in the market which acts as a “signal” for the trader to pay attention and create an order in the market.

Those traders who truly believe trading is a mechanical process are fooling themselves. You must now ground yourself to the realities. You bought this course to learn “how it really is”.

You must learn to read charts, study price action, and above all, you must learn to act on price action signals without emotion.

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