When I was starting to trade FOREX, I already knew that I would be a chartist. It could be because of my technical background as an engineer. So I tried all indicators available. I even bought some "surefire" indicators that will produce unlimited opportunities in the market. However none of these gave me certain, consistent and spot-on results. As we all know, consistency is the key in order to succeed in this business. Then I learned about Price Action (PA) and the psychology behind candlestick patterns. Using PA and candlesticks gave me better results but were lacking in some points. After reading a lot of books, websites and forums, I found out that there are only 2 leading indicators available, PRICE and VOLUME. So I immediately incorporated volume in my trading and everything changed.
The combination of PRICE and VOLUME are the only indicators that I need. These two tell me how the market is doing at the moment and what it will do next. I don't say that this is the holy grail of trading but these indicators suit me well and give me what I need- CONSISTENCY.
PRICE and VOLUME are as old as tape reading used by well known traders so I didn't invent anything new here. I just want to chronicle my progress in this journal to help me (and others, hopefully) improve my trading using Price Action and Tick Volume Analysis.
The combination of PRICE and VOLUME are the only indicators that I need. These two tell me how the market is doing at the moment and what it will do next. I don't say that this is the holy grail of trading but these indicators suit me well and give me what I need- CONSISTENCY.
PRICE and VOLUME are as old as tape reading used by well known traders so I didn't invent anything new here. I just want to chronicle my progress in this journal to help me (and others, hopefully) improve my trading using Price Action and Tick Volume Analysis.
To God be the glory!