The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. PICK Have you ever thought about giving up trading in forex trading method and keep it clean and simple.
Don’t go wasting time trying to make sense of 15 indicators plastered all over your charts like a piece of abstract art. The truth about trading strategies is that finding one that gives you a high-probability edge in the market is not that difficult. But if you over-complicate it and confuse yourself in the process, you are going to do a great deal of harm to your trading account. REALLY master it before moving on. For example, say you choose to learn the pin bar setup first, the best way to learn this setup is to trade it from key levels within the structure of a trending market, do that first, and make sure you are consistently profitable for 3 months or more trading only that strategy before moving on.
ANTICIPATE your trades and follow some kind of written plan. MAKE A DIARY OF YOUR TRADES to keep a written on-going track record of your progress. I cannot tell you guys with enough emphasis how important your trading journal track-record is, except to say that if you don’t keep a trading journal or at least regularly analyze your trading history and equity curve, you are extremely unlikely to ever make consistent money in the markets. The actual process of updating your forex trading journal will help you stay disciplined and organized. This is part of developing the positive trading habits that are so crucial to becoming a long-term profitable trader.