Do have any suggestions where I can find videos I can check out?
Thanks I’ll check it out.
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Any recommendations on where to learn more about PA?
This forum is a great place to start.
Actual screen time is probably the best way to learn PA however.
After years and years of watching price move believe me when I tell you that you’ll start noticing certain “price action patterns”
And keep in mind that every currency pair acts and behaves differently, so general price action patterns apply across the board but every pair has a way of moving so to speak.
No amount of outside education can replace actual screen time. Thats just my opinion but I feel strongly about it.
Thanks for the reality check. Always hoping for that easy answers. But ultimately a lot of the learning appears to just be about making the time for the charts.
Do you suggest any particular timeframe or pair?
@dudebro
It honestly depends on your strategy. I think that the longer the timeframe the more significant the level but thats just my opinion
@dudebro
I think it really just depends on your style. Regardless of the timeframe i think extended screen time is extremely benefital to any trader.
Best of luck to you friend☺
Thanks! I’m so inconsistent with my screen time. Maybe my approach is still to much like a hobby, and I’m not serious enough about its. Thanks for the couch time, doc! Some things need to change.
Uh 13 years, is that possible?
January 4, 2007
As for me, it’s pretty profitable for a beginner to work with binary options. For a beginner, this is much simpler, but in any case, it can bring a good income. I myself work with the broker ExpertOption, and for work this option suits me perfectly.
It is very difficult for a beginner to find a system that he could call simple. At first, everything will seem complicated, but this requires experience. It will be much easier to trade with experience.
@Thebeezneez no, using it would mean having a position in 85% of the time. This is just a simple system for demo trading a beginner can start with and then later build on.
It completely depends on your understanding or strategy. A single technic does not work all the time.
I’ll give it a shot. I’ve been fumbling around too much. Need something with some rules I guess. Something to follow.
@Thebeezneez just don’t expect it to be a short cut to success! A strong message there but it is only the beginning.
I would recommend you to open a demo and start taking buys and sells based on the daily chart of S&P500.
Here are the complete rules
If today’s price breaks below yesterday’s low -> short. Stop-loss above yesterday’s high
If today’s price breaks above yesterday’s high -> long. Stop-loss below yesterday’s low
Exit: close the position when the profit is 2 times bigger than the initial stop-loss
risk 1-2% of your demo account
If during one day there is an entry and the stop-loss is hit, reverse the position
Again this is not good enough for real account.
After 10-20 trades let me know and I’ll send you a book which will help you proceed further
I heard that it comes slowly and goes quickly!
@PanchoVilla84 is right-on!
One way to practice is scroll your chart back in time on the Daily TF and advance one bar/candle at a time based on your strategy mark your buy or sell and click ahead and make your decisions as the days go by.
There is also a gold mine of PA intell buried under the babypips site. The best way to access it is by using the magnifying glass! Use the search function, upper right of the page. You will be shocked and amazed at what you dig up!
Happy hunting!!
Or you could use this and a tight stop loss!
KC