How to Profit in Forex with Price Action

Profiting consistently in the forex market can prove to be a very difficult goal for traders who are using an overly complicated approach involving multiple lagging indicators or that are subscribing to a signal service. Any company claiming to be able to tell you exact entry and exit points that will prove profitable over a long period of time is simply telling you to eat the proverbial fish rather than teaching you how to fish for yourself and eat for a lifetime. Once you learn to trade off a simple clean price chart you will begin the journey of learning to fish for yourself in the forex market. Most people aspire to become professional forex traders due to the freedom from work and the personal growth it has the power to unleash in any individual. That being said, it is ironic to see the number of aspiring forex traders that hand over their money to someone selling them a black box system or a signal service both of which involve no thinking or effort on one’s own behalf; essentially eliminating the freedom to design one’s own trading plan based on sound and relevant price action. Price action analysis can bring you a unique market perspective that will allow you adapt to market conditions and will have continued and even increasing relevance over time. Many trading systems or courses will be relevant in only trending markets or only range bound markets but not both, or only work for a small period of time in either volatile or quiet markets. Price action setups work in any market condition; trending, range bound, volatile, or quiet. The fact of the matter is that price movement provides its own unique footprint on market direction and once a trader learns how to spot specific price action setups they can then begin to build a unique and highly effective trading plan around this inherently relevant market perspective. There are no fancy indicators or expert advisors with price action setups, only pure price bar signals that stand alone as highly effective and profitable entry and or exit signals. A clean price action chart with no indicators should be considered a healthy price chart. Just like junk food is harmful to your body yet still allows you to survive so lagging indicators and other non-sense tools are harmful to your trading and may allow you to get by for a while but ultimately will bring you down. The logical and best thing to do for your health is to eat natural and unprocessed foods, the logical thing to do for you’re trading is to trading off a natural price chart with no junky indicators clogging up your mind. The impact of trading method on mind set can not be highlighted enough. The degree to which your trading technique is confusing and complicated is the degree to which your trading account will suffer. We need to support a healthy emotional mindset and disciplined attitude by using a simple forex trading technique that makes logical sense in the context of all market conditions. Forex trading using price action setups is the most logical and effective method to trade with that will allow you to cultivate the necessary emotional state for consistent profiting in the forex market.