Change Update Of Contact Entry Form Flow Chart Sign Off 16 Reasons Why You Need to Learn to Trade Forex With Price Action

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16 Reasons Why You Need to Learn to Trade Forex With Price Action

Below are some reasons why every forex trader should at least consider price action forex trading as an integral part of their trading tool:

  1. Price action provides data that is most representative of real-time trading available to outside dealer. Pit traders are often several steps ahead of other traders because they have direct access to market data. When you trade forex with price action, you have access to first-hand market information that is not filtered by the often ambiguous mathematical calculations that characterize indicators.
  2. Often outruns/runs with breaking news and is not as sensitive to their volatility as regular indicators. Most indicator based systems would tell you not to trade when there is major economic news because the price volatility at such times creates a lot of chaotic, unreliable signals. With knowledge of specific price action signals and proper training, you could even capitalize on the news for big profits.
  3. Candlesticks are not repainted. Many indicators are notorious for repainting, especially during rapid price changes. A trade signal could disappear within minutes, only to reappear at another price junction – possibly taking your share of the trade with it. But once the candlesticks are completed, they become set in stone – they are events in time that cannot be changed. Their price action patterns may not always be easy to read or translate into trading signals, but you can be sure that once the candle is completed on the chart, it will not change its shape, nor will you see an extended or shortened wick or tail. is passing.
  4. It allows you to focus on the number One indicator – price. Most indicator-based systems go into so much detail and require you to check so many variables that you can often barely see the wood for the trees. It is generally accepted that as human beings we can only focus on one or two things at a time. A forex trader with price action analysis forces himself and the clock to focus on what really matters – the price and its rapid behavioral changes – and quickly adapt to them.
  5. Price action analysis creates valid signals before conventional indicators. Price signals allow you to identify trend starts, stops and continuations. They are not lagging behind; in fact, by understanding the dynamics of the market flow as described in our articles, you would sometimes learn to “ambush” the price and wait for it to make easily predictable moves.
  6. Price action signals work in all market conditions. One of the major faults of custom indicators and automated systems is that they work optimally when certain market conditions prevail – the trend can be strong or bearish. When these conditions change – as they do all the time – the indicators or robots begin to underperform, and users will end up returning some or all of their hard-earned profits back to the market. However, most price action signals stand out in all market conditions, fixed or fluctuating.
  7. They are more rational, easy to understand and clearer to decipher. They provide a rational explanation for the often chaotic and otherwise inexplicable price movement on charts.
  8. Being easily identifiable and unambiguous, they allow the trader to focus on developing trading discipline. Once you decide on specific candlestick patterns to follow, you don’t have to spend countless hours trying to “tune” your trading system. With a good understanding of money management and risk/reward objectives, you could focus on improving your objectivity when trading the market.
  9. Price action analysis and signals are based on closed candlesticks, so you don’t have to sit and watch the charts for a long time. or it is a fifteen minute, four hour or weekly chart that you use when you want to trade forex with price action, because you can only make valid decisions based on completed price bars, you can simply time the chart around the completion of these bars. This allows for much less worry and reduces guesswork and tampering with your transactions.
  10. Price action signals are even more reliable on longer time frames, allowing for more profit while spending more time away from the charts. Most trading systems read trends better and generate fewer false signals on longer time frames. Reading price action allows you to take even better advantage of longer time frames and increase your profit potential.
  11. Some specific price action signals are among the most accurate trading signals available. For example, pin bars provide excellent profit opportunities for both scalpers and long-term traders; taking such signals in line with major support and resistance areas leaves little room for error compared to using trend indicators or similar tools.
  12. It enables uniformly set entry prices, stop losses and target profits with greater accuracy. Because we can focus directly on price dynamics instead of what the various indicators are saying, we can better track price movements and predict their behavior.
  13. It allows for a more accurate assessment of support and resistance areas, as well as the prediction and interpretation of price interactions in these areas. Locating and identifying support and resistance points is critical to success in any financial market and forex trading is no different. With an intimate knowledge of price action signals, we can deduce where price would work in relation to these zones, often much earlier than conventional indicators would.
  14. Price action analysis can be used on any time frame, so it adapts to different trading patterns. Although shorter time frames tend to be noisier and trigger more false alarms, by evaluating support and resistance areas, plotting trend lines and channels, Fibonacci ratios and the like, you could develop several very profitable trading systems even if you were learning to trade forex with price . action in shorter time frames.
  15. Works with all currency pairs. Because it describes the actual activities and psychology of the traders who trade these pairs, similar price action principles apply to all currency pairs and the more you trade price action forex, the easier it will be to identify repeating patterns.
  16. Price action analysis is based on the fundamental dynamics of market movements and therefore will not become obsolete. It is a well-known fact that automated systems never work successfully ad infinitum; eventually their performance declines. Various indicator fads may come and go, but the principles of price action will remain in place as long as financial markets exist and are fueled by the forces of supply and demand, and involve warm-blooded human beings with their varied emotions.

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