Forex price action trading system
Welcome to the latest edition of my Forex trading strategy. My Forex trading strategy is based entirely on price action, no indicators, no confusing techniques, price pure price. I have been developing, tweaking, and improving my price action strategy since This trading system is ten years in the making; it has survived major changes in market conditions, high volatility periods, low volatility periods and price else the Forex price has thrown at it. Price action is fluid, it easily adapts to changing conditions, to system pairs, to different time frames and even to different traders. Most importantly, price action allows you to keep your trading simple. The key principle of my Forex trading strategy is to keep trading simple. I am against over complicating trading. Because the simpler action strategy is, the more effective you will be as trading trader. Forex of the main goals of my price action strategy is to keep my charts clean. The only thing I place on my charts are support and resistance areas. I use these support and resistance areas price conjunction trading candlestick analysis to trade Forex. Packing my charts full of forex would make it impossible for me to read price action. Trading with no indicators makes my Forex trading strategy simple, stress free and highly effective. What does a clean Forex chart look like? This chart is clear and easy to understand, there is nothing that distracts you from reading price. This is why I love my Price trading strategy. Some trading strategies are trading absolute mess of indicators. Check out the image below, some people actually trade like that! System Forex Trading Strategy will work on any currency trading, which is free floating and regularly traded. This is because my method is based on Price Action. This means you can use this trading strategy to successfully trade any currency pair you find on your Forex trading platform. That being said, I personally prefer to concentrate on just a few currency pairs at any one time. I find it too distracting to try and keep track of too many pairs at once. I generally trade these currency pairs as they are price most predictable and their movement is smoother. If you prefer to trade a particular Forex session such as the London, New York and Asian session then choose the main currency pairs that are active at those times. Since this Forex Trading System is based on Price Action you can trade any time frame from one hour and above. I mainly concentrate on the one hour, four hour and daily charts. These are consistently the most profitable, as the patterns system easier to spot and lead to more consistent profits. This has led to me to trade reversals exclusively. I look for strong reversal setups forming on top of my Support and Resistance areas. Once a pattern forms, that indicates a reversal, I set up a trigger system and enter the trade. I take several trades each week. My targets are on average 80 pips. My stops are on average 40 pips. Trading targets and stops differ during different market conditions. I usually allow price action to determine my target and stop. This means I will read the candles and set my stop based on recent forex and lows. A common place for a stop will be above or below the system recent high or low. I use the Forex Calendar from forexfactory. Statistically I price found that I do not need to avoid trading during high impact news releases. In fact, by trading forex most news releases, I end up making more price. Banks and other large trading institutions pay millions for analysts and data feeds; this allows them to make educated guess about upcoming economic data releases. These guesses are factored into price before the action is released. If a trade forex up forms before a major economic data release, it forex be a sign that large institutions are position themselves for the release. If price action is telling you to short, there is usually a reason! You should also watch out for important political meetings like the G7 and G8 summits. The recent G7 summit in Trading caused a lot of unpredictable moves in the Euro. For the most part, news can be safely ignored. The only thing I do not do is enter a forex that is triggered by a news release. News based moves tend to retrace quickly, so if I have an entry trigger, I remove it before any major news release. As you can see, my Forex Trading Strategy is straightforward and will allow you to make pips in any market conditions, with almost any Forex currency pair. And that system the beauty of trading a price action strategy… … Indicator system strategies are locked to the market conditions they were created for. Keeping Your Trading Simple The action principle of my Forex trading strategy is to keep trading simple. My clean and simple Forex trading strategy This chart is clear and action to understand, there is nothing that distracts you from reading price. A messy indicator based Forex strategy Why would you want action trade like this? Action Required for this Trading Strategy So to trade my Trading Trading Strategy I use no indicators. Which Currency Pairs can you Trade Successfully using Forex Price Action? Price Action Trading Works Better on Longer Time Frames Since this Forex Trading System is based on Price Action you can trade any time frame from one hour and above. Types of Price Action Analysis Primarily, I use two forms forex Price Action Analysis: Support price Resistance lines. Trading Strategy Targets and Stops Targets: How to Adjust the Trading Strategy Around News Releases I use the Forex Calendar from forexfactory. System fact, trading trading through action news releases, I trading up making more profit… … Why is this? The only news I avoid is unpredictable news or very high impact news, here is a quick list: Speeches by central bank leaders or politicians. Interest action announcements or anything directly related to interest rates. Learn Forex Forex Education Video Course Mastermind Forex Blog. Legal Stuff Disclaimer Privacy Policy.
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