Everything you need to know to find high-probability entry signals into virtually any market is available on a natural price chart. If you want to see your reflection in the mirror, you just go to a mirror and look at yourself. You do not put a wig on or throw a paper bag over your head. Similarly, if you want to see what a market is doing, you simply need to look at its price chart. You do not need to cover up the most accurate reflection of a market with indicators and other nonsense.
The market is like a book; to understand what is happening in it you have to read it on a regular basis and keep it fresh in your mind, otherwise you’ll fall out of touch with what’s happening in the story. The price action of a market tells the market’s “story”, and by learning to read it you can begin to anticipate the next series of events, just as you can in some books. The best traders are essentially “in the zone” because they keep daily tabs on what the market is doing and they understand the “story” being told by the market’s price action.
A lot of people pay too much attention to one bar or one price action signal. What you need to do is take into account not just the price action setup you’re considering trading, but the overall market context that it has formed in.
Following the market on a daily basis is important if you are serious about making money as a trader. It’s very similar to reading a book; if you put the book down for a week or two you will probably forget where you left off and what was happening. When it comes to trading, this can mean losing money because you are less prepared than you otherwise would be if you were following the market every day and diarizing what the price action is telling you, like we discussed above
Source:http://www.learntotradethemarket.co...price-action-trader-in-history-munehisa-homma
The market is like a book; to understand what is happening in it you have to read it on a regular basis and keep it fresh in your mind, otherwise you’ll fall out of touch with what’s happening in the story. The price action of a market tells the market’s “story”, and by learning to read it you can begin to anticipate the next series of events, just as you can in some books. The best traders are essentially “in the zone” because they keep daily tabs on what the market is doing and they understand the “story” being told by the market’s price action.
A lot of people pay too much attention to one bar or one price action signal. What you need to do is take into account not just the price action setup you’re considering trading, but the overall market context that it has formed in.
Following the market on a daily basis is important if you are serious about making money as a trader. It’s very similar to reading a book; if you put the book down for a week or two you will probably forget where you left off and what was happening. When it comes to trading, this can mean losing money because you are less prepared than you otherwise would be if you were following the market every day and diarizing what the price action is telling you, like we discussed above
Source:http://www.learntotradethemarket.co...price-action-trader-in-history-munehisa-homma
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