STILL NOT WINNING.
Try Market Geometry. What most people don't understand is that Alan Andrews and Roger Babson, founders of the pitchfork, were the brains behind the Kennedy fortune. It still functions now. I toiled for 9 years with a constant flow on my account. The flow is moving into my account as I unlearned all of the crap I thought I knew, and now look at the truth of what is happening about the chart. One traders thought on the topic!!
I think that Tim Morge is the last living student of Alan Andrews. Tim Morge is the creator of MG.
Sir the majority of the person's her claim to be following good egy why don't you you try it.
I can't say something concerning their egy since I came to learn about Foreign Exchange trading for the previous 3 months only,
however, your comment made me think twice about entering trading as full-time occupation for living.
Nevertheless my final choice would be always to give it a try with a few demo accounts and enter minimum real account.
I contacted FXGiants about those accounts, apparently they are not real live accounts, they're test accounts.
Thank you very much limprobable, today I have to Flip how I believe. Candle stick alone is an indior also (optionally we can add some Lines to it), and these can provide us profit if we know how to view it. I recall now a great trader once explained: it is not only the indior that make a trader success, but the way the trader can utilize it properly... If a exact same system is given to ten individuals, may be just two or three of them are able to get profit/success out of it. The outcome (good/bad) is mostly count on the trader, not on the system/indior it self. Thanks, you have opened my eyes...
Basically, price action is the motion of the price .
Within that motion we've got a set of many candles which form patterns, like for instance head and shoulders,
or person candles which also form patterns, like for example doji.
This isn't a easy query
You will find so many definition of PA.. It diverges from trader to trader. I will give my own definition, such as I see PA but it's just my point of view (any other traders can be not concur with me):
PA = price action is the action of price (whhhaaaaaa ). So whatever help determine the price for your own perspective: it might be just one candle (OHCL), as you said, it could be one candle (doji, engulfing etc), it could be action-reaction at particular level: large number, past prices, resistance and service, it could be double top, bottom and almost any figure etc.,. It can be diagonal or channel, It can be anything where price have, according to you, an expected action or response. As a trader, it is your job to define the probabilities of any anticipated response.
For example, some traders will only use engulfing candle, some others double top etc and will be expert in this particular PA..
For its use of indiors I understand one profesional trader that utilized just bollinger band (habit one). I understand another trader that just use bollinger bands also (not habit one now ) at a total differrent manner, give him differents signals, and the two are winning.
You will read many times: my trading is the trick to win. Do this is the trick to win. Do that is the trick to loose. You will read winner traders that develop lots of large certitudes and large notions on what happend (simply because they are winner and think they have understand everything).
I am none of them. My certitude is that there is just as much winning technique as winning trader. But loe yours could be an extremely lengthy and hard experience.
Thanks limprobable,
so there's still a hope for a novice, I am glad that I still have more than seven years to enhance my self, I expect it is a sufficient time for me personally
One easy question: I hear about PA a lot of occasions, but may not truly know it. Can it be about information given by the candle stick (example: High, Low, Open, Close price of a candle, accessible in each time period from M1 into MN1 of MT4 platform)?
That I wouldnt worry about it. Simply keep trading and it may come for you. So you never know.
Hello Lento123,
My article was for a trader with 8 years of experience.
To get a total beginner, I will not say the same things. If I take the same instance as writer, a total beginner must learn his alpabet first. Then read books (technical and emotional ), then learn to compose and then become a writer. A work. It take. So you must be passionate.
Both technical and plogical are the keys of succes. But there's a lot of technical view of market: you got indiors, you got PA, order book etc.. And within indiors, PA etc. you have to find your market, the niche that make you a professional.
Every trader like every writer has his own personality, history and technical.
(PS: and should such as Neesh24 following 8 years you dont have discovered your style. With the amount of informations collect in 8 decades, you could be lost. Thats why I said to overlook all he have understand, it will be in his inconscious anyway, and starting again only with his own opinion, together with his own truths. I believe every trader or writer have some adventures of doubts. It is normal. Too much informations can kill information. There is so much interaction you can not dominate all, you're overwhelm. Restart a blank page, your blank page could be an option ).
Which you the very best.