Looking for Price Action trading course.

This is a discussion on Looking for Price Action trading course. within the First Steps forums, part of the Reception category; Hello Morph4blu Good luck in your efferts. I also am looking and just started using a trail account and Iam ...

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Old Jun 16, 2009, 2:58am   #15
Joined May 2009
Hello Morph4blu

Good luck in your efferts.

I also am looking and just started using a trail account

and Iam trying a few different training courses.

I guess The best way is to just do it until you get right.

Never stop learnigs and good luck.

PEP
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Old Jun 16, 2009, 3:55am   #16
 
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Quote:
Originally Posted by morph4blu View Post
Anyone have any knowledge about the best trading course or book in which to learn basic price action trading ... and the basic fundamentals ...After several months of coombing the web wading thru the muck of false claims professing , best forex tool,toys, indicators ,special advisors , trading software trading platforms, trading stratedgies, signal providors , broker advisors,, Free e books ,,, not so free ebooks etc etc I am no closer to being profitable in fact Im worse at trading then when I first started .. and I knew NOTHING then... Frustrated yes.s. disappointed yes.. less pocket money... yes yes.. but ... Im not ready to give it up.. I am determined to make this work.. So im starting all over again.. Im going to erase all the noise.. give up all my bells whistles, glitz and glamour indicators ,pack away my magic robots and cancel my fantastic always inaccurate almost no win signal providers..and learn the funtamentals of trading.. concentrate on understanding price action, volume and momentum relatiuonships and how to read a chart ...enter and exit a trade with out indicators.
What... did I really say that... I .. just dont know .. maybe.. just a simple MA wouldnt hurt or stouch is a good guy... Oh .. ok ... no indicators ..At least at first.. So could anyone make some suggestions as to what courses or book I should start with... Thanks a determined morph4blu

Thanks Kay
If you really want to learn about Price Action then google Wyckoff. There is a lot of free information available on the net. Also, check out the VSA threads on here.

In addition, learn about Money Management, Risk and Position Sizing. Even if you develop a potentially profitable strategy, applying the wrong level of risk will result in you ending up in the poor house. These skills will be as valuable for you as learning about price action!!!!

As a side note, please don't take the easy route and spend too much time learning about indicators with the intention of solely using them in your trading. By all means, familiarise yourself with them (if they interest you) but understand that Price Action drives everything so understanding that will keep you ahead of most other new comers to trading.

All IMO,

Chorlton
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Old Jun 16, 2009, 7:39am   #17
 
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If you want to learn price action, you need to get youself on a LIVE SIMULATOR.
Some firms will let you demo them for free. Speak to John head of Futex Investment and Trading Academy for help. He set up my buddy on their trading floor for a couple of days at no charge. Its worth a look
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Old Jun 16, 2009, 7:54am   #18
Joined Feb 2008
Try "Reading Price Charts Bar By Bar" by Al Brooks

It's a pretty good book IMO.
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Old Jun 18, 2009, 6:55pm   #19
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I would avoid the book by Bill Eykin.

It is highly overpriced and a much better name would have been, "Pivot level trading".

I would recommend you to buy the two books by Jim Dalton. If you have to choose one, pick the oldest, "Mind over markets".

This provides a great framework of how to really understand how the markets work (a two-way continuous market process).

Other than that, I guess you need screen time, but you also need theory. If you don`t know what to start looking for you might waste time just looking at the screen.

Good luck!
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Old Jun 18, 2009, 8:05pm   #20
 
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way to go, get rid of everything and start with just the basic concepts of trading, the absolute essentials, such as support and resistance, fibs, and classical chart patterns.

read books :

reminiscence of a stock operater
anything on jesse livermore
anything on Wyckoff
anything on tom williams re: VSA, his book is master the markets
anything on tape reading, re: tape reading and market tactics by humphrey b neill.

you will never go back to mathematical indicators after learning about price, volume and time analysis, you may find a whole new advantage trading this way.
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Old Jun 18, 2009, 9:30pm   #21
 
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forget fibs and any other indicators just read the chart - learn to see whats gonna happen we all know what has happened.

most newbies use ma, stochs etc (i done it) but clear your screen of all these lines and you will see a clearer picture of what is happening, not what has happened. Use different time frames to identify trend and entry/exit points etc, Price price price !!!
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