By prop trading do you mean day trading? Day trading is manually placing trades throughout the day to turn a profit. It is infamously difficult and requires many years of study and experience. A common pitfall is that people will try and predict price movement using price action alone, when this is only just 1 piece of the puzzle. What really moves the price is news from central banks, economic data, and other geopolitical news. You need to keep up to date with all this news every day to stay tuned into the market and what is moving the price and why. You also need a solid understanding of global economics. It is a lot of work and you will lose money (real or paper) for many years while you are learning.
Hello guys.
I'm looking for price action courses and strategies that help me to be success in prop trading.
Has anyone a successful experience?
I started my trading education learning day trading ( manual) techniques. I did this for 3 or 4 months. But I noticed that the instructors were all hype and emotions play such a big part of trading. I like the cold logic of software.
I would invest in more education from many sources. An online course for $15 or $30 is a great place to start. At that price you can get lots of education cheap. This will get you some basic skill.
Chris
above this follow get a clear picture get it
Hi Kathir
By prop trading do you mean day trading? Day trading is manually placing trades throughout the day to turn a profit. It is infamously difficult and requires many years of study and experience. A common pitfall is that people will try and predict price movement using price action alone, when this is only just 1 piece of the puzzle. What really moves the price is news from central banks, economic data, and other geopolitical news. You need to keep up to date with all this news every day to stay tuned into the market and what is moving the price and why. You also need a solid understanding of global economics. It is a lot of work and you will lose money (real or paper) for many years while you are learning.
Price action means whatever activity on price. Price action is studied on naked chart and just include candlestick analysis. Candlestick patterns are major part of price action while price action is also used studying pattern breakout. Volume is also not a part of study for true price action traders.
I started my trading education learning day trading ( manual) techniques. I did this for 3 or 4 months. But I noticed that the instructors were all hype and emotions play such a big part of trading. I like the cold logic of software.
I would invest in more education from many sources. An online course for $15 or $30 is a great place to start. At that price you can get lots of education cheap. This will get you some basic skill.
Chris
above this follow get a clear picture get it
Thanks a lot my friends
I'm a beginner and want to expand my knowledge. So, I'm trying to benchmark some strategies. Your advices were helpful.
If you have any successful experience based on studied sources, I'm eager to know.
Price Action
The forum
- All About Price Action - the key thread
- Market Condition Evaluation (2 EAs were created) - the post as a summary of price action thread
- Price Action Trading - small thread with videos
- What is Price Action? the post with video
- Trading Price Action Reversals : Al Brooks - the book
- Trading Price Action Trading Ranges : Al Brooks - the book
- Indicators VS Forex Price Action - the post with small article
- Interview with Al Brooks, price Action day trader and the author of 'Trading Price Action Reversals' - the post with video
- Video Lesson - Price Action: Introduction To Price Action Trading (what is price action, basic set-ups and stop placement, and more) - the post
- The Three Most Popular Indicators for Day-Trading - the post with small article
CodeBase
- Price Action Indicator - indicator for MetaTrader 4
- Alpha Trend Spotter Price Action - indicator for MetaTrader 5
- Price Action EA - expert for MetaTrader 4
- Market Flow Analysis Method (MFAM) Indicator for Price Action - indicator for MetaTrader 4
- RAVI (Range Action Verification Index) - indicator for MetaTrader 5
- RAVI (Range Action Verification Index) - indicator for MetaTrader 4
- XXXUSD 10 points - expert for MetaTrader 5
- Price Alert - indicator for MetaTrader 4
- more in search here
The articles
- Price Action. Automating the Engulfing Pattern Trading Strategy
- Price Action. Automating the Inside Bar Trading Strategy
- Identifying Trade Setups by Support, Resistance and Price Action
- Auto detection of extreme points based on a specified price variation
- The Price Histogram (Market Profile) and its implementation in MQL5
- MQL5 Cookbook: Development of a Multi-Symbol Indicator to Analyze Price Divergence
- MQL5 Wizard: Placing Orders, Stop-Losses and Take Profits on Calculated Prices. Standard Library Extension
- Creating Active Control Panels in MQL5 for Trading
- and more in search here
The blogs
- VIDEO LESSON - Price Action: Introduction to Price Action Trading, What is Price Action, Basic Set-ups and Stop Placement, and more
- VIDEO LESSON - Price Action: Candlestick Indicators in Price Action Trading
- 4 Facts About Price Action Incl Free Indicator and EA
- Top Price Action Secret
- Video Lesson - How To Trade: Price Action Trading
- Price Action - The Power of Wicks in the FX Market
- Something to Read - Forex Price Action Scalping: an in-depth look into the field of professional scalping
- and more in search here
The market
- many in search here
Hello guys.
I'm looking for price action courses and strategies that help me to be success in prop trading.
Has anyone a successful experience?
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
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Hello guys.
I'm looking for price action courses and strategies that help me to be success in prop trading.
Has anyone a successful experience?