Learn Price Action

Discussion in 'Trading' started by Dobbes, Apr 25, 2008.

  1. Dobbes


    This is a common bit of advice that gets tossed around. 'Learn Price Action,' well, I would love to. How exactly should one go about 'learning price action?'
  2. by using common sense.
  3. Where can one find live markets trading where price is moving up, down and sideways? There is your answer.

  4. It's like saying the Trend is your friend :)
  5. Iceburrg


    I would suggest getting a real good understanding of supply & Demand. But be sure to have an understanding of it as it applys to bid/offer.
    As this is just my own opinion.. I'm sure there are other ways (as well as beliefs on understanding price action).
    Once you have a good understanding of supply and demand, apply some serious screen time and actually watch price action. Apply your newly found knowledge to figure what is happening on the screen **I actually talk to myself out loud!!
    Now you are on your way down the golden path to the holy grail (** it has never been verified that a holy grail is at the end of the path... but there are some people further down the path with a beautiful cup full of gold and other stuff I wouldn't mind having)

    - Hope this helps. Good luck
  6. Learn to be on the right side of the trade
  7. Does that include being ultra biased one way and ignoring an entire side of the market for trading purposes?

  8. stare at price action for 1000's of hours. If u have a brain, u will start to make sense of it. There's no substitute.

    The kicker is 'if u have a brain' . Unfortunately, many seem to be lacking in that area here at ET
  9. for practical help, so you don't have to stare at the charts for 1000's of hrs trying to reinvent the wheel, you might find Intraday Fx Player thread gives you a leg up. You'll need to go back a fair bit and follow the chart posts to understand what's going on.
    #10     Apr 25, 2008