My journey through Forex
I have been trading for the last 4 years using various methods with inconsistent results. I have had great weeks and some really bad weeks, where I would get to Friday afternoon with aching eyes, having spent most of my week looking at charts on my phone and worse still heading into another weekend with an empty account and feeling defeated and generally fed up AGAIN!
Despite this, something kept me going, because I knew that there was a way of making consistent gains from the currency markets and I persisted.
So, after 3 years of getting no where slowly, things changed when I came across Price Action trading.
Price Action trading is really taking things back to basics….
- Step 1 – Clear your charts of all indicators until you are left with a raw candle chart – you’re a quarter of the way there!
- Step 2 – Learn some price action signals – there are 3 that will suffice.
- Step 3 – Mark your daily charts with Key support and resistance lines.
- Step 4 – look for the price action signals that occur at areas on your daily charts that are confluent with your marked lines – these are the high probability trades that you should be considering taking.
I realised that what I had been doing over the last 3 years was totally over complicating my trading, suddenly I felt like the fog had lifted and taken the stress away with it too, now I was looking at lovely clean charts with a couple of lines of support and resistance and everything was clear.
Now, for the first time, I felt like I was in control of my trading and my charts were ‘talking to me’.
Despite my initial lack of success, on my journey I have learned loads. Loads about the way in which trading works, loads about the way successful traders work. I have been on courses, seminars and webinars, read a pile of books on this strategy and that. I have spent countless hours reading web articles and gathering information from many free available sources on the internet. I have done my chart time too!
In fact there is so much information out there, it can be overwhelming. So it is quite understandable that someone new to trading can waste a good couple of years before they see the light and realise that it never needs to be this complicated.
I believe too that my trading journey has helped me learn a great deal about myself, and what is really important for me….. time.
The reason I set out to learn to trade in the first place, was so that I could spend more time with my wife and young children. For 3 years I can honestly say that I have failed miserably, I have spent way too long glued to my screens, having late nights, being tired and so on – exactly the opposite to my goal.
I have read this strategy, that strategy, this system and that, wasted a whole heap of cash and worst of all time.
I have discovered that 90% of financial experts really aren’t. I have heard the ‘experts’ predict where the currency price is going to get to based on this economic data and blah, blah, blah just to see the opposite happen.
The fact is that although economic data when released will have an instant effect on the forex markets, generally the news is already priced in and the daily candles will tell the story. I just follow the price action and rarely bother with economic data – another bunch of stress I don’t need.
If someone had told me 4 years ago that it would take the best part of 4 years to get the better of forex trading, not to mention the stress, and time consumed, the endless late nights staring at charts while the rest of my family were fast a sleep, I think I would have poured my energy and money into something different. However 4 years on, I am confident in myself and in the simple but robust toolset which I now own and I hope this site might help anyone struggling as I did and hopefully be of some use.
So, the Pin Bar, well let’s get started, click here to find out what it is and how it can be traded.