A - MUST INDICATOR TO FOLLOW IN THE CURRENCY MARKET CHART

A lot of people have this question in mind, what exactly is Price Action.And why is Price Action King in Forex?

To answer the above question, i start off with talking about indicators.

There are tons of indicators out there, be it forex or others. They work mostly the same way.
And there are new indicators coming out every other day.

Alot of traders when they first started trading forex, they have tons on indicators on their charts. Trying different combination of which works best for them. And at the end of the day, they get confused all over as one indicator may be telling you to go long, but the other is telling you to go short.
Which will result in you making bad decisions and end up blowing your account with a frustrated mind.

Why does it happen this way? Indicators are derived from the chart movements. Some indicators react faster, some slower.
However, as they are derived from the chart movements. They are 1 step slower than the chart. Which is in fact Price Action!

Price Action leads the indicators, and when price reverses it movement from short to long (example). The indicator which you are watching is one step too late. And by the time the indicator confirms it is going short, Price Action has taken the market to go Long.

This happens most of time, if not all of the time.

Therefore = ALL INDICATORS ARE LAGGING INDICATORS!

PRICE ACTION IS WHAT LEADS THE INDICATORS, IT IS KING IN FOREX!

By understanding Price action in forex trading, we are able to understand the ENTIRE PICTURE of the market.
WHY is the market moving up,
WHAT causes it to stop moving,
WHY is the market reversing
WHY is the market in consolidation

IT is like reading a book once you have mastered price action in forex. And the best thing is, It is not difficult!
It is even easier than you reading an indicator.

And when you mastered price action, with combination of our system. You will almost be able to pick absolutely MARVELLOUS TRADES all the time. CONFLUENCE is the King of the game. This is what equates to our high probablity trades with a high winning ratio.

PSYCHOLOGY NEEDED IN FOREX TRADING [ A-MUST HAVE]

Guys.. this is something important which i want you guys to think about.
Most of us spend most of our time looking in charts, looking for good entries to
enter. And we spend all our time in that.
But are we doing the right thing all these while?
let us step out of our charts and look at the entire forex picture.
Let us reflect on how we can improve our forex game.
what are the things that we are doing wrong and should remove.
what are the things that we should be doing, but did not do?
what are the things that we are doing correctly and should keep doing
Let us look deeper..
What is our general risk reward ratio, – is it good enough for our account size
to grow and cover our loss we take in the mean while
what is our risk % size – is it too much or too little?
Did you enter the same position size on EVERY trade? are you discipline enough
to do that.
Price Action – Remember this is king in forex, did you enter with price action or
without it?
Emotions – (Entry) do we let emotions affect us as to when we enter the trade
(afraid of missing a trade)
is it because of missing a trade, we fail to enter on the break of the price
action bar + 10 pips. Instead we entered on the close of the bar and made a lot
of losses.
Emotions – (Exits) do we exit our trade base on emotions. How ofter does it
happen. did we stick to our initial plan?
Stop loss – did we shift our stop loss accordingly. Did we ever shift back our
stop loss because we hope it will go back to our direction we wanted?
Picky – are we losing money because we are not picky enough on our trades. Do we
enter base on 3 to 5 reasons or only 1 reason?
Overtrading – do we tend to over trade because we do not want to waste our time
looking at charts but not entering. did we enter more trades to grow our account
but instead make more losses.
Above are some reasons.
i want you guys to step back and think of the reasons that is affecting you. I
want all of us to improve our game further. and not just trade blindly.
Remember – CONFLUENCE is the key. Confluence means many reasons and not only 1
reason to enter.
Confluence makes you picky, confluence removes overtrading.
Postion sizing and money management is VERY IMPORTANT. If you are still not
implementing it. PLEASE CLOSE YOUR ACCOUNT. i do not want you to lose any more
money. PERIOD.
Remember to COMPOUND. this is what makes us FULL time forex traders and not
wannabes.