- Number of messages : 8
Points : 1684
Date of Entry : 2016-03-21
Year : 35
on Thu Nov 30, 2017 1:22 pm
Message reputation : 100% (1 vote)
You should accept that none of the trading days is equal to another. Today the prices and the market condition will be stable in a way to give you profits but on another day things will be different. The bottom line is that you should never expect the market to be the same because it never will. The Singaporean traders are well-aware of the market condition so they are successful in trading. Sometimes the market may fluctuate to a quiet situation and it may stay in the same manner for a long time. Some traders tend to trade the market even if the market is quite but naïve traders do not trade the market when the market is quite (choppy) because they cannot read the market properly.
Most of the traders in the Forex market use the price action to trade the market and when they trade if it goes wrong they tend to assume as if the price action strategy is wrong. What should you understand from the traders who think that price action is wrong? Well, there is nothing wrong with the price action. The mindset of the trader is the wrong factor so they should try to mend the mindset. They have over-traded or they have not understood the market condition. They were not able to understand the market volatility so it is not about price action but about their behavior. Let us learn further.
It is obvious
When you make continuous losses it is obvious for you to feel whether something is wrong with the strategy, method or the approach but it is not that 90% of the time it is your mindset. You will start to point fingers at everything expect to direct it to you. You need not worry because it is the usual reaction of the traders. When you consider the Singaporean traders they are successfully maintaining their Forex trading account Singapore because they knew that fault is in their mindset and they have improved it. It is dangerous if you cannot accept your fault and if you don't accept the fault you will not be able to move forward in your trading career. So, by remaining optimistic and by accepting the obvious reason you will be able to become successful in the market.
It is not a trading system
Most of the naïve traders think that price action is a system whereas it is not. And they think it is a rule-based system which can be used in order to trade any trades but it is not. You cannot trade any trades using the price action and it is not a system as well. You should study the market and based on it you should decide whether the price action is suitable or not. You should learn what price action is and there are many other factors related to which you should become aware of so make sure to get acquainted with it.
It will work better
You should never doubt the price action because it has been used in the past and still using in the present. All the successful traders know the importance of the price action. So, you should not think whether it will work or not, in fact, it will work better if you use it properly.
The price action trading system is one of the easiest ways to find the high-quality trading signals in the market. Many retail traders often say that they don’t like price action trading since they face too many false trading signals. But if you do some research on their trading history then you will notice that every single one of them is trading the lower time frame. Being a price action trader you need to do the market analysis in a higher time frame. Learn to trade like the sniper and wait for the best possible trade setup.
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