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Price Actions- EurUsd 447 replies

where's the best start to learn Price Action Trading?? 5 replies

Where can I learn more about Price Action like those in James16 charts? 9 replies

Where to learn Price Actions and How to Master them

  • kk007
    Joined Feb 2009
I have my first contact of the concept of price action at J16's thread. It talks about pinbar, outsider bar, etc. and how to trade with them. Basically, the bar patterns included in it are reversal bar pairs. Nevertheless, I think price action includes reversal pairs but not exclusively only about reversal pairs.

What is not included extensively in the thread is the physics or market psychology behind price action in general.

I know someone can scalp for 10-20 pip a time with 1:1 virtually as many times as they want in a day, and with definitely more winners than losers, by trading price action together with support/resistance and trendline.

They can interpret each candlestick and the particular sequence and arrangement of the candlestick in their own terms to make their decision. I think interpret price action is also called "tape reading" somewhere.

I do want to learn more comprehensive about price action, includes the principle behind them. Any experienced trader can recommend some good material for me?

Thanks in advance!
J16 is not all about bars, it's also about location. First comes location, then you look at what kind of bar (price action) you get at that location.

I would also recommend BRV's No Brainer and Strat's Long Term Stress Free threads for more on price action.

You can also supplement that basic information with some advanced information. For example you can learn what kind of effect volume/orders have on the price. There are 2 interesting threads out here which discuss them.

So that's learning by reading and looking at pictures (screenshots) which learns you some basic stuff about PA. IMO the most important thing is lots of valuable screentime, because ultimately you want to get the "feeling" of PA.

You'll need to open your charts and determine the trend (up, down or ranging). Then just look at the charts, look at how price is behaving under different conditions (rangy market, trending market, at support/resistance, under news releases, during the different trading sessions and so on)

Ask yourself also the question with the 3 W's: "Where, When, Why is price moving quickly (good momemtum)?" This is especially helpful if your interest goes out to scalping.

When it comes to psychology which is a very important thing to master, I only need to say a few words: Trading in the Zone.
The Ultimate Trading Guide by Hill, Pruitt, and Hill.
  • Post# 4
  • Quote
  • Sep 30, 2009 10:23pm | Edited at 11:00pm – Add P.S.
  • kk007
    Joined Feb 2009
Artov,

Thanks for your reply and suggestion in general. My current method is basically No Brainer, but this thread is not mainly about price action, it is mainly about horizontal S/R. I will have a look at the Strat's thread.

Yes screentime is important and it is important to explore myself. Basically, it is what I am doing now.

What I really want is to learn from experienced traders with well-constructed presentation, e.g. a book with resourceful content.

cheers,


P.S. When it comes to price action, Strat just asks readers to refer to J16. So, it is again J16.

Quoting artov
J16 is not all about bars, it's also about location. First comes location, then you look at what kind of bar (price action) you get at that location.

I would also recommend BRV's No Brainer and Strat's Long Term Stress Free threads for more on price action.

You can also supplement that basic information with some advanced information. For example you can learn what kind of effect volume/orders have on the price. There are 2 interesting threads out here which discuss them.

So that's learning by reading and looking at pictures (screenshots)...
  • kk007
    Joined Feb 2009
Quoting Dopey
The Ultimate Trading Guide by Hill, Pruitt, and Hill.
Thanks Dopey.. a book comes in handy! I will check it out!
Look into 'Market Profile'. It gives you an underlying understanding of the orderflow/market structure. It was designed for trading the S&P but i've heard of others successfully using it in the fx market, and I've been finding alot of success with using it, although I dont have years of track record to back that up as yet.



Quoting kk007
I have my first contact of the concept of price action at J16's thread. It talks about pinbar, outsider bar, etc. and how to trade with them. Basically, the bar patterns included in it are reversal bar pairs. Nevertheless, I think price action includes reversal pairs but not exclusively only about reversal pairs.

What is not included extensively in the thread is the physics or market psychology behind price action in general.

I know someone can scalp for 10-20 pip a time with 1:1 virtually as many times as they want in a day, and with definitely...
- nick andre -
  • kk007
    Joined Feb 2009
Quoting Nick_likes_pips
Look into 'Market Profile'. It gives you an underlying understanding of the orderflow/market structure. It was designed for trading the S&P but i've heard of others successfully using it in the fx market, and I've been finding alot of success with using it, although I dont have years of track record to back that up as yet.
Thanks Nick,

There are so many ways to look at the market, but at this stage I want to concentrate on comprehensive candlestick reading.

cheers,

kk
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