Once a trader has learnt to trade Price Action they have a method that will be with them for as long as they choose to trade. Price Action is learning to read what the charts are saying and being able to place trades based on what the raw price is saying.
Unlike other indicators and black box systems Price Action trading does not stop working when the markets change. Price Action has been around for a long time and will be around for many years to come. Price Action does not rely on any specific market conditions and can be traded all year round.
Clean Charts
The first thing a trader who is looking to trade Price Action must do is strip their charts of all the indicators and fluff! Zero indicators are needed to trade Price Action. All the information that is needed is included in the raw price.
Below are two charts. On the left is a typical chart of many traders that is full of crazy indicators cluttering up the chart. On the right shows a clean Price Action traders chart. You will notice the chart on the right is much clearer and free of confusion.
Messy Chart Clean Chart
Find a Mentor and Learn Price Action
Finding someone to help you learn how to trade successfully can be a huge bonus for aspiring traders. Not only can a mentor show you how to trade but they are there for any questions you may need and can give you guidance through the crucial stages.
Finding mentors can be tough as there are many unscrupulous people out there. One successful trader who has turned he’s hand to helping traders worldwide is Johnathon Fox. Johnathon has dedicated he’s life to helping traders escape the darkness and learn how to trade Price Action.
Johnathon runs a website that is stacked full on free information where traders can learn to trade Price Action through the many free trading videos and articles. He also runs a free blog discussing Forex setups.
Start a Demo
Once you have begun to learn how to trade Price Action it is vital you start a demo account and begin to put into practise everything you have learned. Forex is excellent because of the many free demo accounts traders can set up and practise trading like the real thing.
It is vital you treat your demo account like you would a real account. If you can’t make money consistently on a demo account, you have no hope of making money on a live account with real money on the line.
There is no reason to lose money whilst learning to trade Price Action. Don’t be like so many others who don’t have any discipline and just have to trade live straight away. Practise your Price Action trading and if and when you become profitable on a demo account then think about opening a live account.
