Euro / U.S. DollarEducation
IMPORTANT ABOUT PRICE ACTION
The market is constantly in motion and constantly changing. Every new day is different from the previous one.
At some point, the market movement stops, the sideways movement begins and people start losing money because they do not know how to switch from one market structure to another.
At such moments, newcomers begin to doubt their strategy and blame it for losses, eventually abandoning it altogether.
Such actions do not lead to good results. If a trader cannot keep his composure during a loss streak, then the market will beat him every new week again and again.
At such moments, you should keep in mind the four truths related to Price Action and Forex trading. These truths can keep you afloat and keep you from going crazy.
1. Price Action is not a "system"
Price Action is not a complete trading "system".
This should not be forgotten.
You cannot mindlessly believe every Price Action signal that appears, as it seems to you, on the chart. You have to think and choose the best entry opportunities.
You should be careful, start trusting your intuition, which will start working correctly only when you get enough bumps, that is, gain experience.
2. Does Price Action work?
Price Action appeared back in the 18th century, and it worked then, it works now and will work in the future.
The thing is that Price Action is based on logical principles that work outside the market.
At the same time, do not forget about the losses that are inevitable. Price Action is not the holy Grail.
You must be disciplined, be able to correctly understand and use the signals that Price Action gives.
Even the best traders have unprofitable positions, while professionals do not allow losses to destroy the entire account. Moreover, profitable positions cover losses, after which there is still money for life!
3. Candles and Price Action
Many beginners, having studied the Price Action patterns a little, having learned the candlestick formations, run to trade and lose money.
Price Action is not only candle formations, the main strength of Price Action is reading the entire chart and understanding the situation, understanding how the price moved before, how it is moving now and what is likely to happen in the future.
You must learn to feel the mood of the market, not be afraid to look at the older timeframes, be able not to lose sight of the big picture.
It is the poet who advises trading on higher timeframes in order not to lose sight of the movement of the main trend.
4. Persistence in trading
Forex trading is not the easiest activity that requires you to improve yourself every day.
If you decide to really become a profitable trader, you will inevitably begin to develop the best in yourself and destroy the worst.
Trading will make you a disciplined, stressful person.
You will treat losses correctly so that they do not lead you astray.
You will take the time to plan not only your transactions in the market, but also your life in general.
You will have to start doing all this, because otherwise you will not be successful in this business.
Trading is a test of your stamina and mental capabilities.
YOU should not go crazy with losses and should not lose your head when making a profit.
You should not doubt your strategy at losses, you should analyze.
Without all of the above, trading can destroy you and your account.
Do work on mistakes, rest when you feel that you are losing control of the situation, develop and analyze removing harmful emotions away.
You have to treat trading as a real job – seriously and responsibly, and then you will stop losing and start getting.
Good luck!
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
At some point, the market movement stops, the sideways movement begins and people start losing money because they do not know how to switch from one market structure to another.
At such moments, newcomers begin to doubt their strategy and blame it for losses, eventually abandoning it altogether.
Such actions do not lead to good results. If a trader cannot keep his composure during a loss streak, then the market will beat him every new week again and again.
At such moments, you should keep in mind the four truths related to Price Action and Forex trading. These truths can keep you afloat and keep you from going crazy.
1. Price Action is not a "system"
Price Action is not a complete trading "system".
This should not be forgotten.
You cannot mindlessly believe every Price Action signal that appears, as it seems to you, on the chart. You have to think and choose the best entry opportunities.
You should be careful, start trusting your intuition, which will start working correctly only when you get enough bumps, that is, gain experience.
2. Does Price Action work?
Price Action appeared back in the 18th century, and it worked then, it works now and will work in the future.
The thing is that Price Action is based on logical principles that work outside the market.
At the same time, do not forget about the losses that are inevitable. Price Action is not the holy Grail.
You must be disciplined, be able to correctly understand and use the signals that Price Action gives.
Even the best traders have unprofitable positions, while professionals do not allow losses to destroy the entire account. Moreover, profitable positions cover losses, after which there is still money for life!
3. Candles and Price Action
Many beginners, having studied the Price Action patterns a little, having learned the candlestick formations, run to trade and lose money.
Price Action is not only candle formations, the main strength of Price Action is reading the entire chart and understanding the situation, understanding how the price moved before, how it is moving now and what is likely to happen in the future.
You must learn to feel the mood of the market, not be afraid to look at the older timeframes, be able not to lose sight of the big picture.
It is the poet who advises trading on higher timeframes in order not to lose sight of the movement of the main trend.
4. Persistence in trading
Forex trading is not the easiest activity that requires you to improve yourself every day.
If you decide to really become a profitable trader, you will inevitably begin to develop the best in yourself and destroy the worst.
Trading will make you a disciplined, stressful person.
You will treat losses correctly so that they do not lead you astray.
You will take the time to plan not only your transactions in the market, but also your life in general.
You will have to start doing all this, because otherwise you will not be successful in this business.
Trading is a test of your stamina and mental capabilities.
YOU should not go crazy with losses and should not lose your head when making a profit.
You should not doubt your strategy at losses, you should analyze.
Without all of the above, trading can destroy you and your account.
Do work on mistakes, rest when you feel that you are losing control of the situation, develop and analyze removing harmful emotions away.
You have to treat trading as a real job – seriously and responsibly, and then you will stop losing and start getting.
Good luck!
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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