PRICE ACTION FOREX TRADING

TRADE WITH THE TREND

The trend is always your friend. The beauty of our 3 price action signals is that when used with the existing trend it give us very high probability set ups. It really is that simple use the price action signals with the trend. So if you take is step by step and learn how to see the signals then learn how to identify the trend and then learn how to see it all together then you are on your way to becoming a successful trader. 

To determine trend try using the 10day and the 21 day ema. This what I use to identify the trend.  When using these two ema's together we wait for a cross of the 10day and 21day ema. a cross to the upside shows bullish momentum and a cross to the downside shows bearish momentum. Try using these with only higher time frame for better accuracy. Now that you have the tools to determine the trend now look for the price action signals that line up with the trend. I think now you are ready to go. If you have any questions be sure to send me a message. 

Happy Trading 

Khalif

ASK YOURSELF WHY DO I TRADE FOREX....??

Many have no clue why they trade. They envision this life style of financial freedom of lots of money and Forex is the easy way to get it.  I bet after you started trading you realized that Forex is not so easy. I've always believed that in any line of work you do, you need a plan that will give you the best opportunity to obtain your goal. Whether your trading Forex in hopes of making this your main source of income or if you are a student looking to make some extra cash on the side you need a solid plan. I know the overall reason people trade Forex is to make money. No one I've came across yet has said they trade to lose money.:) Are there any out there that are trying to lose money? I don't think so. So ask your self the reason why you trade? Then once you can identify why it is you trade then devise a plan that will help you reach your goal. Heres and example of what that would look like.......

 Hi my name is Smiley 

   Reason for trading: Need extra money to cover my bills.

   Plan: *I will trade off of 4hr and daily charts.

    * I will trade one of three setups that occur Inside bars/Bait setups/Pin bars

                * I will only risk between 2% and 5% of my account 

               * On strong setups I will risk using my own discretion

               * After every week I will withdraw my earnings and pay my bills with the extra money.

               *  If I am not successful in that weak I will invest a little more and continue with my price action trading.

That is an example of Smiley's...Why do you trade forex and what is your plan that will obtain your why?

ALERT TRADERS!!!!! Did you know that you don't have to have a high win rate to be profitable??:dry:

 Why you ask? Risk vs Reward will keep you in profit. This is where you aim for your trades to make 2x or more what you risk. Example: Risk ($100) & Reward ($200+). Some of these trades will result in 3x or more that is ideal, but when you have strong money management like this you will be able to remain in profit. Try it out. If your trade will get you 2x or more your risk then that should give you more reasons to take it as long as you have a price action signal to go along with it and it is well formed then you are set to go.