Price Action newbie in London

[dominationFX]

Hi. I am still at the stage of demo trading to hone my mental and tech trading skills in FX. I am sending off for Brendan Egans 123Learntotrade.com course, in PA and volume. Has anybody here done the course?
Is there anybody else here from the London/M25 area into PA trading, whether newbie or expert? Thinking of starting a web community especially for London PA traders, with a view perhaps towards meeting once a week/fortnight.
Who invented/spotted PA? Does it have a founder?
Who are some of the all time best PA traders to study?
Is there a simpler/better way to trade? Thanks, exhausted newbie..

 

[newtrader22]

Al brooks is best price action trader. you can go through his book.

 

[DionysusToast]

I used to like Al Brooks book - I had it on pre-order and read it straight after it came out.

I now think it is also mostly nonsense.

 

[dominationFX]

Why is the 123Learn course useless? It teaches you PA and volume.
Is there anything you dont consider useless?
What is better for teaching PA?

 

[shadowninja]

What is better for teaching PA?

The charts as the story unfolds. Just watch and watch.

 

[shadowninja]

And watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch and watch.

If you're patient enough, you will start to get a sense of what the hell is going on without losing too much money.

 

[Paulie_5]

I really wouldn't recommend Al Brooks as a starting point. It's a very hard slog if you don't already have a good understanding of price action.

It is very badly edited, the author jumps around all over the place. There are spelling mistakes and grammatical errors to the point that some paragraphs don't even make sense.

Ok granted, there are some great ideas in there, but you have to sift through pages and pages of utter guff first. You will lose the will to live before you've learnt anything of value.

 

[supermatt]

The Brendan Egans course is useless.

I used to like Al Brooks book - I had it on pre-order and read it straight after it came out.

I now think it is also mostly nonsense.

on what basis is it useless? i am not being harsh just would like to know your opinion. It is a good place to start for a new trader i wouldve thought.

 

[Black Swan]

what do you think price action is?

 

[supermatt]

the movement of price caused by the fluctuations of the battle between buyers and sellers

 

[DionysusToast]

on what basis is it useless? i am not being harsh just would like to know your opinion. It is a good place to start for a new trader i wouldve thought.

In terms of the vendor - well - experience tells us that these people sell snake oil.

In terms of Al Brooks - I think he'd have been much better of producing a video instead of a book. I think there's some good stuff in his book but I can't see how anyone could absorb it all and apply it to the markets.I also think it puts too much emphasis on individual bars is e.g. - a pullback on a large bar is this, a pullback on a small bar is that...

I think this could have you looking microscopically at the markets and have you missing the big picture.

 

[dominationFX]

I havent yet been told why you believe the Brendan Egan course is useless, in your own words. It is easy to be critical, but it really contributes nothing.....

 

[luckyd1976]

For me PA trading...

1) Chart reading (focus on highs/lows)
2) Is mastering the Breakouts
3) Knowing key Supports/Resistences
4) Stop losses and or walk away points on your trades

 

[NIandP]

Charts, TA, books, courses are all useless, I spent thousands and even that got me nowhere. This is the secret as unfolded in this article in the first few paragraphs. Software is no longer sold but I am looking for a copy

http://tinyurl.com/26ye77t

 

[Beakytrader]

Hi. I am still at the stage of demo trading to hone my mental and tech trading skills in FX.

i would recommend reading Brian Marber - Marber on Markets. He has over 40 years
experience as a tech analyst. I don't use some of his stuff, such as set percentage breaks of a trendline, but there's a lot of good stuff in it.

 

[DionysusToast]

I havent yet been told why you believe the Brendan Egan course is useless, in your own words. It is easy to be critical, but it really contributes nothing.....

It is a mail order trading course - therefore it is useless.

 

[neil]

Re: Price Action newbie in London-undecover vendors' lackey?

I havent yet been told why you believe the Brendan Egan course is useless, in your own words. It is easy to be critical, but it really contributes nothing.....

You're very keen to ignore advice from experienced traders - are you excercising a hidden agenda to push this course for the vendor

 

[dominationFX]

Im not "pushing" anything for anybody.
And you dont know what advice I have "ignored."
I am only trying to help other newbies and share my experience.
Incidentally, I am getting a lot of contradictory "advice" but I have moved on from the lagging indicator based course and am now interested in Price Action trading.
I hope this helps.

 

[DionysusToast]

Here's the advice - mail order courses will not make you profitable.

If you have done a mail order 'lagging indicator' mail order course and are now moving towards a 'price action' mail order course, you will learn after some time that the 'mail order' is the problem.

Im not "pushing" anything for anybody.
And you dont know what advice I have "ignored."
I am only trying to help other newbies and share my experience.
Incidentally, I am getting a lot of contradictory "advice" but I have moved on from the lagging indicator based course and am now interested in Price Action trading.
I hope this helps.

 

[jon1971]

Chris Capre has done some work on PA, FX specific as well.

I've not looked at his paid for stuff, but picked up a couple of handy hints watching his free videos, YouTube channel is "secondskies" and he has some free reports and videos on fxstreet.com

I'd advise caution in paying for expensive courses that promise the Earth, you should listen to the guys on here, for the most part they know what they're talking about...

Let me know if you find anything decent mind...