This document introduces principles of price action analysis through a thread on Twitter. It establishes some basic rules: 1) trades must be obvious and visible, 2) understanding market mechanics is important to avoid losses, 3) rushes trades usually lose, preparation and patience are needed, 4) charting alone does not make one a trader, live experience is also needed. It emphasizes finding one's own trading method rather than copying others and looking for pattern repetition to make profits. The thread will continue exploring price action movements in more advanced ways.
This document introduces principles of price action analysis through a thread on Twitter. It establishes some basic rules: 1) trades must be obvious and visible, 2) understanding market mechanics is important to avoid losses, 3) rushes trades usually lose, preparation and patience are needed, 4) charting alone does not make one a trader, live experience is also needed. It emphasizes finding one's own trading method rather than copying others and looking for pattern repetition to make profits. The thread will continue exploring price action movements in more advanced ways.
This document introduces principles of price action analysis through a thread on Twitter. It establishes some basic rules: 1) trades must be obvious and visible, 2) understanding market mechanics is important to avoid losses, 3) rushes trades usually lose, preparation and patience are needed, 4) charting alone does not make one a trader, live experience is also needed. It emphasizes finding one's own trading method rather than copying others and looking for pattern repetition to make profits. The thread will continue exploring price action movements in more advanced ways.
10 Tweets • 2021-07-23 13:58:58 UTC • See on Twitter
rattibha.com
MASTER-CLASS on PRICE ACTION
Introduction to Principles of Price Action.
A Thread.
Please share and Let's Go
We will learn the introduction and rules to price action in this thread.
It will establish a BASE on how to use PA in it's best
form and what to Expect from it.
Introduction Part 1.
1. Price Action trader relies on a simple rule, if a
trade can't be spotted easily, it doesn't exist.
There are no riddles to solve, no conflicts to evade.
There is nothing cluttered.
Trade should be obvious. Easily Visible.
2. Low understanding of market mechanics will lead to higher tuition fees in form of losses.
Understand Market mechanics like it's an auction
and a living thing.
3. You can't enter a trade without preparing and
waiting for it. Impulsive trades are losing trades, almost always.
Entering a trade doesn't take time, preparing and
waiting for it SHOULD take time. 4. Having clear concepts and techniques won't make you a trader. Charting is theory.
The first 1000 trades after you've studied is also
just studying.
Trade more, live, a lot.
Study price action live.
5. Adopting methods of a successful third party is a
common method, which will only lead to failure.
This is a shortcut to education and won't hold on
the market.
Don't copy methods or strategies. Gain insight and
experience from other traders, not their strategies. 6. You have to find your own Edge, your own system.
Build your own method, this is of utmost
importance.
If you've not taken the time to Build your own
personal method, you'll fail.
You can't have a successful restaurant business on a
stolen recipe. 7. Price Action techniques can't be haphazard. You make money by just one thing, playing the pattern repetition.
Same patterns occur, you employ the same methods
and take the bet.
Make is made on pattern repetition. There's
nothing new to do. This has introduced Price Action Principles.
We will begin to understand movements in
advanced manner in the next threads.
I will only be concentrating on price action for some
time.
Please make sure to Read all the Other Lesson on
here to be ready.
https://t.me/EmperorbtcTA/404
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