Price action basics. Part 3 - Page 77
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Thread: Price action basics. Part 3

  1. #761
    Any one will be able to establish career in forex with any preferred level of funds. Such as: if you are a retired person, you can try some standard trading account or micro trading account. Here, no matter what is the preferred level of investment every trader who wants to start trading in forex should try to gather basic knowledge of trading which will be the ultimate support system for him.

  2. #762
    Of course, trading conditions offered by the brokers are flexible enough so that the traders with small amounts of money could open an account and start trading. At the same time, it is important to mention that almost all such traders would lose their entire capital due to the mistakes in money management - they will overload thier accounts with huge positions to get substantial profit. When you have small account, you have to risk more to be able to make relatively large profit.

    Price action approach is one of the most efficient in trading. Fundamental analysis related to Forex is quite difficult for newbie traders since they are not professionals in the sphere of finance, while PA is simple, so anyone would be able to get familiar with it and use during trading process. Another important advantage of PA-based strategies is that they could be easily tested with the help of special tools like Forex Tester (special backtesting software for testing strategies on historial data), and it is impossible to test strategies based on fundamental analysis.

    Price action trading is very popular, so one can easily find a lot of information about in within the web, including books, interesting articles and videos. It is also possible to find communities of traders using price action and discuss your own ideas with them to find the best solution.

  3. #763
    We all know that its not 100% that each time we trade using price action we can get good results. But if we can find the highest accuracy pair using price action I am sure we can have good profit trade also. Just imagine if you going to trade the top three pairs that has high accuracy rate then we can make good income each year.I believe to recognize the actual pattern from the marketplace using the cost motion really is easy

  4. #764
    The longer time period will be taken for moving average the more smooth it will be. But the drawback is it is laggard. I prefer to use that in default system, it filters out false breakout and detects the current one. Though a trader following it will enter in market later but he will be less vulnerable to risks.

  5. #765
    Price action is one of the good approach that can turn the table when it comes to your trading. It is probably very confusing for the newbie, but with patience and understanding the strategies, I believe they can become of the most efficient tools in trading.

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