Forex Price Action Strategies

When considering trading the forex market it is important that you know what strategy you are going to employ before you start trading real money. Trading the forex market with price action strategies can be a very effective and efficient way to make your trading decisions. When you understand how forex price action works, you put yourself in the very powerful position of being able to accurately read a “naked” or indicator-free price chart. Having the knowledge to read a naked price forex chart will also give you the power to read price charts in any financial market, not just forex, should you decide to do so.

By using price action only setups to trade the forex market you will effectively be basing all of your trading decisions off of a simple and clear trading mindset because the simplicity of such setups will permeate throughout all of your trading activities. Many beginning and experienced forex traders alike get caught up with trying to trade overly-complicated trading systems that seem effective on the surface but in the end bring nothing but struggle, lost time, and lost money. If you are aware of this fact before you get to deep into forex trading you can prevent yourself from falling into this common trap of trying to use overly-complicated trading systems by employing a simple yet very effective strategy like forex price only trading.

Price action forex trading will provide you with high probability trade setups that can help you time your entries into the…

Source by Nial Fuller

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