So, if you eventually want to be a full-time professional Forex trader, you have to first aim a little bit lower you need to aim to make consistent money each month while simultaneously implementing effective Forex money management. This is called being honest with yourself about what is really possible given your current financial situation, and many traders simply don’t do this.
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Hi NIAL ! Thank you for being so generous, to lead us to the path of becoming,eventually, a successful professional Trader.
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you are spot on nial if you factor in the compounding aspect even a 8R reward every year adds up to a lot over only 65 years nice one man..cheers
322# Channel 50 EMA two methods - Forex St
The price action strategies and methods that I trade with and teach my students have served me well for many years now, and it’s because there is nothing complicated about them. I simply use my ability to read and interpret the overall market structure to find high-probability price action setups, and I watch for these obvious price action setups forming at key chart levels. Thus, there is no confusion or uncleanliness to my trading approach it’s all about taking advantage of high-probability price action events in the market and knowing how to make sense of and read the ever-changing market conditions.
I believe in pure price action tradin. Its very simple and effective. Anybody that aspire to be a pro trader should learn to read and interprete price action. Thanks nial for ur great effort in bringin this knowledge to us.
I (we, as my friend become a member too now) and came out with our trading strategy and now doing back testing and we see positive results.
After you have completed steps 6 and 7, it’s time to learn some real-world trading strategies and really start getting into the “meat” of Forex trading. Now, there are thousands of different ways to trade the market out there, but if you want to learn how to read the raw and natural price dynamics of a market, I suggest you learn to trade forex price action strategies. By making price action trading your primary trading strategy, you will develop chart-reading skills that will last a lifetime and make any other strategy or system you use even more effective. As you probably know by now, I am a huge proponent of “pure” price action trading, and I really feel that it’s the best way to trade the Forex market.
Thanks Nial I have traded a few differant stratergies & made some money, but they all stressed me out to the max. Your P/A is so stress free compared to the others. I have been member for 7 months now. I did blow my acc from $7555 to $6955 in 8 months. But no I am slowly getting back on track. Back up to $7655. What I have found is I am trading much less & having more winners. Somtimes I only trade 7 to 8 times a month. Thanks for every thing Nial looking forward to your next lesson
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In Part 7 of this mini series (click here) I am going to share with you guys the importance of testing your trading strategy as well as how to track your progress and develop a trading plan. These next steps are critical in refining your trading approach and developing an organized and structured trading routine that will guide you when you switch to real money trading and help you avoid becoming an emotional trader. If you want to learn more about my price action trading strategies after finishing steps 6 and 7 in today’s article, check out my Forex price action trading course and members’ community.