In a definition of Price Action trading (PA) strategy, it is an act of responding to ways and manner that price behaves or behaving during a period in time. With PA, you are going to trade what you see and not relying on any complex indicator that you did not even know how it’s been calculated. You act based on some laid down rules as regards price behavior.
Although, price action is best recommended for anyone who’s just beginning in financial market. I could recall my first encounter with FX market, I was so overwhelmed with a whole lot of different trading strategies. They all appear great in theory, but ugly in practice. Not until I’ve learn to settle down for price action strategy and the reward was huge.
No strategy is fail safe, price action inclusive. No strategy or system will single-handedly give you consistent result or profit. Every time we speak of consistency in Forex trading, little do we know that it cut across the way we interpret the market, the way we stick to a strategy over a period of time, the way we keep to a leverage size and the time we open and close the trading terminal every day.
Well, I wouldn’t want to bug you with too much talk. If you’ve been in the…
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