Hello there!
In this thread we're going to talk about how to use price action to find good trading opportunities.
But wait, I hear you!!
Yes, it seems like everyone is talking about price action these days, so what's different about this approach?
Well, price action signals are great. I love my candlestick reversals and my trendlines.
But they're only half of the story.
You'll also find us talking here about the real foundation of successful trading - risk v reward.
We're going to find trading opportunities with very small risk, but with large rewards on offer.
If we can put ourselves in a position where we risk 10 pips, but the potential profit is 50 pips (or more), we can be wrong 80% of the time and still make money.
Think that's an intriguing proposition? Well, I certainly do!
A lot of traders think that getting a 1:5 risk reward ratio is difficult, but it's not as hard as you might think.
If you'd like to know the basics of the strategy, you can read about it in this free ebook.
If you want to know more about the advanced aspects of the strategy, including a deeper analysis of risk v reward, you can check out the PAST Video Course which comes as part of Forex Useful Pro Membership.
I'll start posting a few charts soon and we'll see how we get on!
PS: It should go without saying that we don't post trade recommendations and you shouldn't take anything on this thread as financial advice. Instead, try to learn the principles that are play and implement them into your own trading. Principles beat systems!
In this thread we're going to talk about how to use price action to find good trading opportunities.
But wait, I hear you!!
Yes, it seems like everyone is talking about price action these days, so what's different about this approach?
Well, price action signals are great. I love my candlestick reversals and my trendlines.
But they're only half of the story.
You'll also find us talking here about the real foundation of successful trading - risk v reward.
We're going to find trading opportunities with very small risk, but with large rewards on offer.
If we can put ourselves in a position where we risk 10 pips, but the potential profit is 50 pips (or more), we can be wrong 80% of the time and still make money.
Think that's an intriguing proposition? Well, I certainly do!
A lot of traders think that getting a 1:5 risk reward ratio is difficult, but it's not as hard as you might think.
If you'd like to know the basics of the strategy, you can read about it in this free ebook.
If you want to know more about the advanced aspects of the strategy, including a deeper analysis of risk v reward, you can check out the PAST Video Course which comes as part of Forex Useful Pro Membership.
I'll start posting a few charts soon and we'll see how we get on!
PS: It should go without saying that we don't post trade recommendations and you shouldn't take anything on this thread as financial advice. Instead, try to learn the principles that are play and implement them into your own trading. Principles beat systems!
