My name is André, I have been dabbling in FX for about 9 years and have been struggling until I took a course where I learnt about PA, Supply/Demand zones etc. at a well renowned established. I improved but still struggled until I recently read articles in Babypis on PA and together with some indicators I use as odds enhancers I am finally getting it right, but slowly.
I will be following electrofx’ thread closely
where did you learn about supply and demand and is there anything you could show me or help me with? I love forex but am having a hard time profiting with it… Thank you
Goodday to you, I took a course at Online Trading Academy, but you can also find a very thread run by Electrofx on the forum entitled Pur Price Action Trading which is excellent on the subject
[QUOTE=“andrevs;486145”]Goodday to you, I took a course at Online Trading Academy, but you can also find a very thread run by Electrofx on the forum entitled Pur Price Action Trading which is excellent on the subject[/QUOTE]
I took the three day course than they wanted to enroll me. Tell me has it been helpful towards your trading? Are you making money off of supply and demand method? Thank you so much for your help I just want to make sure I make the right choice…
apologies for the late reply, I did the full course and am still a lifelong XLT member. I am using a combination of supply/demand levels together with some custom indicators and making money slowly since my daily work schedule allows very little time to trade. I spent a lot of money on several courses years ago, but they were pure indicator based. Understanding “price action” and how supply/demand works and shows up on a chart is key, in fact I cannot emphasize enough what is taught at the Academy that everything is reflected in the price, i.e. what you see in a chart. The indicators I use are purely odds enhancers per se, as I always start with levels of supply and demand working my way through from weekly to daily, 4 hour and then 30min or 1 hour depending how volatile the currency is. I take trend into account considering the daily and 4 hour charts. I use the 4 hour chart as the initiating time frame for the trade I wish to take.
There are many other factors to consider, whether you are a passive or active trader, time of day you can trade, amount of time available, then as far as currencies are concerned spread and daily range are prime considerations in my choice of instrument.
I can only comment that trading is not much different to any other profession, unless you have a natural ability, and even then, you have to study the subject and it will not come for free, even though a lot of material is available free, ultimately it will cost you in either courses, books or information services. If you struggle with trading, like I did and still do, I believe it is even more important to get good training from a reputable agency, which will like college and university cost money.
I do trust that you will make the right choice and key is to remember is that no single trader trades the same, and in the end we can only act on the probabilities that the market offers us.
Why wouldn’t you try a simple Price action method…? You could probably digest it in less than a week and backtest it or test it live to see the results and compare them to anything you’ve tried in the last 9 years… That would be an awesome experiment too…