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What do you think is the best (fastest) way to learn PA?

  • #21
  • Jun 15, 2010 10:27am Jun 15, 2010 10:27am
Hi all,
thx for the answers.

I think I have to clarify my situation a bit more. I have found a system that is fitting me and I want trade noting else than this system anymore. It is the "Trade what you see, not what you expect"-method introduced by EOHater. It is a complete strategy with entries, trade management and exits. You can find all the informations you need in the thread which is the biggest in the journal section. I have spent a lot of time to study this strategy and demo trading it. I think I can say it is a great winning strategy when you have patience and you master the PA. A lot of traders learned this system and trade it successfully now.
Therefore post like don't trade multi timframe or "first read babypips than surch a system and start a demoacc..." isn't something that helps me.
I'm not stupid. I have made a master in economics and I understand what the system is based on. But even when you know the tweezers, dojis, hammers...set ups perfectly that does not mean you can read the charts. It's a interaction of technical tools that "let you see" in the complex of price moves. The "trade what you see..." method includes enough technical tools to master the markets and I need to shape my skills in using this tools.

I hope you know what I mean.
  • #22
  • Oct 1, 2010 11:42pm Oct 1, 2010 11:42pm
subscribing..
  • #23
  • Oct 2, 2010 1:51am Oct 2, 2010 1:51am
Quoting MCFly
Hello all,

since a while I'm following a trading method which is discussed in a big thread in this forum. The trading system is based on price action, previous price action, chart pattern, S&R, MA's as floating support and resistance, multi timeframe...
Although I'm trading this system since a year or a bit longer I'm far away from reading the charts and PA as perfect as the thread starter or the other "senior trader" in the thread do.

I know it takes time to reach such a comfortable level of mastering technical analysis but what do you think...
Well, learn what the patterns are, then test a few decades of data in Excel to get an idea of how special those patterns really are.
  • #24
  • Oct 2, 2010 8:30pm Oct 2, 2010 8:30pm
Strip every indicator off your chart is step one.

Then learn to study one currency get to know it the best you can.

Learn to spot S/R levels



-Mike
  • #25
  • Mar 14, 2011 4:57am Mar 14, 2011 4:57am
Quoting coronajazz
Find one trade setup that fits your beliefs, just one trade, open a live micro account and search for your trade every day. Use as little discretion as possible at the beginning. Do not search for anything else. If your trade is not there, do not trade. If its there do not hesitate, pull that trigger. After a while youll find you get better and better, until you become the master of it .

Just one stupid trade, thats all you need.
Look for a lot of ways to trade, weed out the bad ones. If you its working, keep going, if not repeat. If you go insane, stop.
My signature is: "Classified".
  • #26
  • Apr 4, 2011 11:43am Apr 4, 2011 11:43am
Quoting Dopey
This is the best answer so far. It's amazing how people respond to questions without ever addressing it.

I suggest you get Forex Tester 2. Do as the above suggests, find one setup, and then spend hours on FT finding it. The true problem is that when we look back at a chart it's easy to see setups. Seeing them as they unfold is much more difficult. Using FT is the best way to do this.
I'll second that motion, here is a great video that explains it all, if you pay attention that is....

Speed Up Mastering Forex
Canadian by birth Australian by choice
  • #27
  • Edited 4:21am Apr 8, 2011 4:09am | Edited 4:21am
FORGET ALL THE BS! lol Heiken Ashi candles will confirm any PA setup! just look and you shall see! Or come to the thread i started i have a custom candle indicator(OHLC-HA) that shows regular candles but colors them the color an HA candle would be.....And if you want to say HA will not confirm a PA setup...PROVE ME WORNG! lol yes you get in alil later sometimes cause it was CONFIRMED.....but you can also get in sooner sometimes....
  • #28
  • Apr 8, 2011 4:37am Apr 8, 2011 4:37am
Quoting Dredding82
FORGET ALL THE BS! lol Heiken Ashi candles will confirm any PA setup! just look and you shall see! Or come to the thread i started i have a custom candle indicator(OHLC-HA) that shows regular candles but colors them the color an HA candle would be.....And if you want to say HA will not confirm a PA setup...PROVE ME WORNG! lol yes you get in alil later sometimes cause it was CONFIRMED.....but you can also get in sooner sometimes....
oh cool, today so many holy grails have been given away, and that all for free from such honorable and selfless people.

I will be one of your followers, my guru. Long live Dredding82!
  • #29
  • Apr 8, 2011 4:48am Apr 8, 2011 4:48am
Quoting Custos
oh cool, today so many holy grails have been given away, and that all for free from such honorable and selfless people.

I will be one of your followers, my guru. Long live Dredding82!
Well if this guy/gal uses the OHLC-HA candles then it would be the fastest way to LEARN price action trading...once you learned what the setups all look like you can take the indicator off and just use regular candles......but i sure aint! lol
  • #30
  • Apr 8, 2011 5:23am Apr 8, 2011 5:23am
Learning a strategy/candle formation is one thing.

Learning how the markets work internally, what moves them, why they move, and how they move is a completely different thing.

The second option is what allows the first option to be done.

But learning a strategy for the sakes of it without knowing the market internals is useless as Jhig pointed out (i think he did haha).
  • #31
  • Apr 8, 2011 5:32am Apr 8, 2011 5:32am
Quoting Pipalicious
Learning a strategy/candle formation is one thing.

Learning how the markets work internally, what moves them, why they move, and how they move is a completely different thing.

The second option is what allows the first option to be done.

But learning a strategy for the sakes of it without knowing the market internals is useless as Jhig pointed out (i think he did haha).
Well of course you need to understand TA,FA and how the news can affect the markets....but thats part of the learning you go thru to become a GREAT trader! lol
  • #32
  • Apr 8, 2011 5:35am Apr 8, 2011 5:35am
Quoting Dredding82
Well of course you need to understand TA,FA and how the news can affect the markets....but thats part of the learning you go thru to become a GREAT trader! lol
I took Pipalicous' comment to relate to understanding market structure ratther than TA, FA. And in that sense I do agree.
  • #33
  • Apr 8, 2011 5:40am Apr 8, 2011 5:40am
Quoting medici
I took Pipalicous' comment to relate to understanding market structure ratther than TA, FA. And in that sense I do agree.

But what does "market structure" contain? lol
  • #34
  • Apr 8, 2011 5:41am Apr 8, 2011 5:41am
Quoting Dredding82
But what does "market structure" contain? lol
You seem to be quite ignorant, if I may say so.

For a start, see http://en.wikipedia.org/wiki/Market_microstructure
  • #35
  • Apr 8, 2011 5:46am Apr 8, 2011 5:46am
Quoting medici
You seem to be quite ignorant, if I may say so.

For a start, see http://en.wikipedia.org/wiki/Market_microstructure
And so do you...TA & FA is what moves FOREX! besides the NEWS...which is what.....the structure of the market.......Over thinking is why so many people lose all there money when trading....K.I.S.S....Keep It Simple Stupid...lol
  • #36
  • Apr 8, 2011 5:49am Apr 8, 2011 5:49am
Quoting Dredding82
And so do you...TA & FA is what moves FOREX! besides the NEWS...which is what.....the structure of the market.......Over thinking is why so many people lose all there money when trading....K.I.S.S....Keep It Simple Stupid...lol
Ignorance is bliss, it seems...
  • #37
  • Apr 8, 2011 5:54am Apr 8, 2011 5:54am
Quoting medici
Ignorance is bliss, it seems...

Well it seems to me people like you like to try and explain things the hardest way possible just to sound and seem smart....."There's more then one way to skin a cat!" or to understand the markets and trade them........
  • #38
  • Apr 8, 2011 6:10am Apr 8, 2011 6:10am
Quoting Dredding82
Well it seems to me people like you like to try and explain things the hardest way possible just to sound and seem smart....."There's more then one way to skin a cat!" or to understand the markets and trade them........
Didn't know that I tried to explain anything at all here. I just said that I agreed with an earlier post, and I pointed out that you may have missed the point.

And I have absolutely no need to make an impression in an anonymous forum. That would be quite stupid.

But I would like to suggest that there may be levels of understanding and of profitability beyond yours, without being the least over-complicated.
  • #39
  • Last Post: Apr 8, 2011 6:22am Apr 8, 2011 6:22am
Quoting Dredding82
....Over thinking is why so many people lose all there money when trading....K.I.S.S....Keep It Simple Stupid...lol
Hi Dredding82

Is that really your version? Anyway whichever trading system a trader could use it isn't the main point to become a/n good/excellent trader.

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