[B]Welcome![/B]
First of all, I want to say welcome! My name is Aaron Kruger, and I created this thread as a beginners course to my more advanced Price Action That Matters thread over in the “Free Forex Trading Systems” forum. I have seen the huge demand for advanced price action learning methods and learning material, so I stepped up to help fill that need. I realize that some of the members of my advanced thread may become overwhelmed by the advanced topics discussed, and this may actually hurt their trading instead of helping. I wanted to create an area that people can comfortable learn the basics of the price action method I teach, without becoming confused or overwhelmed. Ultimately, if you can’t be successful in the core aspects of price action, trying to implement the more advanced portions of the method will not be of any benefit.
[B]What price action trading is: [/B] Price action is simply what price is doing over time. When price moves into key support and resistance areas, it will sometimes create price action signals. These signals come in the form of pin bars, engulfing bars, double tops/bottom patterns and much more. When you combined these key support and resistance areas with price action signals they can create high quality trade setups. These setups can provide high reward scenarios with low risk. These low risk and high reward trades you can achieve through trading price action can help you become a consistently profitable trader.
[B]Conclusion:[/B] I want to make sure I am helping traders realize their maximum potential in the market, which starts at the foundational aspects of price action trading. I created this thread so that the boundaries of what is learned and discussed here will be only the foundational aspects of price action, and the core parts of my method. For traders who are just getting their feet wet in the world of price action trading, this is the place for you. If you find that you have mastered the topics discussed here and are consistently profitable, I would encourage you to graduated over to the “Price Action That Matters” thread.
[B]Price Action… :[/B] The first two words of this thread are “Price Action”. Price action is simply looking at the price movements of a given instrument over time. Every tick on a chart is price in action. Since price action is studying price movement on a chart, we can categorize two different types of price action signals: individual candles and patterns.
[B]Candles[/B] - Price action candles are individual candlestick formations that occur such as a pin bars or inside bars. These signal the trader to reversals or continuations in price.
[B]Patterns[/B] – Price action patterns don’t focus on the individual candles but rather the shape or pattern of a group of candles. These also signal potential reversals or continuations in price.
[B]…that Matters:[/B] Price action by itself generally doesn’t tell us much. But when price action occurs at key support/resistance levels, it can tell us key pieces of information about the likelihood of a reversal or continuation in price. Through my experience, I have found are a handful of key S/R areas that the market reacts strongly to. These include horizontal support and resistance lines, trend lines, channels, EMAs, Fibonacci retracements and volume. By learning and understanding everything that the market reacts to, you can know key areas to look for good PA candles/patterns to form, and also be aware of areas your trades might stall or reverse. You can choose to watch or ignore these key areas, but it doesn’t change the fact that the market is always reacting to them. What matters to us is whatever matters to the market, and causes reactions from the market. The list of S/R tools I use, I have found to be the ones that the market reacts strongest to.
[B]“Price Action That Matters For Beginners” Vs. “Price Action That Matters”:[/B]
The format of this thread will be more strict regarding PA topics discussed, to ensure it stays within the core aspects of price action trading. There will be noticeable differences between this thread and the other more advanced thread. Here we will stick to a single trade management method, a smaller set of price action signals, patterns, and S/R tools. I will not double post articles in both threads. If I feel an article is relevant to both threads I will post it in one, and link to it from the other.
[B]My Free Knowledge Model!: [/B]My model for teaching price action is very simple, create price action learning material and give it out to everyone for free. It is that simple! Many price action salesman will offer you the basics for free, but reserve the more advanced topics of price action for those willing to pay a premium. I am absolutely against these sales models, because most of what is sold can simple be found online for free. Most of what is hidden away for paying members are techniques and methods that have been around for decades and much of it can be found with some time spent Google searching. While I am not against charging a small fee for something truly unique and new, a very small percent of what these salesman are selling actually falls in that category. I believe many people pay such high prices for this information because there are very few free alternatives that offer high quality learning material. I am here to provide that alternative. My promise to you is that I will never charge for teaching price action.
[B]How I Got Started:[/B] I started my interest in trading about 12 years ago when I bought my first book on trading called “How to Make Money in Stocks” by William O’Neil. In the 12 years since I have consumed tons of information regarding trading patterns and reading candlestick charts. I started off trading stock options and eventually ran across a website promoting PA trading in Forex. Ever since then I trade only Forex and only using price action. I currently run a Forex price action website, Mainstreet to Millionaire.
[B]Please check out my YouTube Channel[/B]
[B]Rules and Quick Navigation:[/B] Before posting in the forum please visit post #2 and read through all of the rules for this thread. This well help ensure the thread remains valuable and targeted with what we teach here. Also check out post #3 where I have quick navigation links to important articles and videos that are posted here. This will help you quickly get up to speed and join in the price action discussions here. If you are a regular member, please continue to visit the Quick Navigation area as I will be updating it as new learning material is added.
[B]About Me:[/B]
If you would like to learn more about me please read the introduction post from my other thread.
[B]NOTE:[/B] If you want to get a hold of me, DO NOT call me. The only appropriate method for members to contact me is via babypips PM, Skype or e-mail.
[B]NOTE #2:[/B] I have tried to provide enough information of myself to help traders become familiar with who I am. If what I have already laid out is not enough then either move onto another thread or send your questions to me privately. I want a clean thread here dedicated to talking price action trading. Anything that falls outside of those boundaries are not allowed in this thread.
If you would like to see my my answers to these question please go here and here
[B]Introduce Yourself:[/B] It is a signature part of “Price Action That Matters” to introduce yourself by telling us your name or handle and saying “I am a…” and listing all of the hats and titles you wear in order from most and to least important. For example, My name is Aaron Kruger and I am Christian, husband, dad, programmer and Forex trader. If it is something you want to do, it is a fun way to join the price action community here. You are only a visitor once and after that we consider you part of the community. With all of that being said, let’s get to learning!
[B]Quick Navigation[/B] (links to key articles and discussions)
[B]Method Basics[/B]
Article - [I]“Step 1: Identifying a Trend”[/I]
Article - [I]“Step 2: Finding Key S/R Areas”[/I]
Article - [I]“Step 3:Watching for Price Action at Key S/R Levels”[/I]
Article - [I]“Part 1: Retracement Techniques”[/I]
Post - [I]“The 5 Star Rating System”[/I]
[B]Price Action Candles[/B]
Video - [I]“How to Identify Market Structure and What a Pinbar Is”[/I]
Video - [I]“Price Action Pin Bar Tutorial #2”[/I]
[B]Price Action Patterns[/B]
[B]Support/Resistance Tools[/B]
[B]Trade Management[/B]
Post - [I]“Take profit techniques”[/I]
Post - [I]“How to Move Your Stoploss”[/I]
[B]Money Management[/B]
Post - [I]“Fixed % Vs. Fixed $”[/I]
Post - [I]RR Calculation[/I]
[B]Trader Psychology[/B]
[B]Market Psychology[/B]
Video - [I]“Why Pin Bars Form”[/I]
[B]Trading Plans/Journals[/B]
Member Contribution - [I]“Sample Trading Plan: Template #1”[/I]
Member Contribution - [I]“Sample Trading Plan: Template #2”[/I]
[B]Notable Chart Analysis[/B]
Post - [I]“Pin Bar H3”[/I]
[B]Misc. Articles[/B]
Post - [I]“Why most Price Action Guru courses DO NOT work”[/I]
