Learning some basic price action techniques will help you know when to trade and when to stay out of a trade!!
Knowing when to trade and when to stay out of the action, is key to trading. Many new traders take a scattergun approach to day trading, or trading in general, and trade all setups they see which leads to a lot more losses that can kill them mentally. By refining your approach and knowing what to expect from the price action….you can greatly improve the odds of success.
In the video, I show some simple techniques to help traders get a better read on price action and stay out of the intraday chop. I talk through a day trading session on the Hang Seng Index and the price action that led to a positive read on the price movement for a prime trade entry setup.
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Hope you enjoy
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Disclaimer: the contents of this post are presented for informational purposes only. They should not be viewed as investment advice, nor a solicitation to buy or sell any financial securities. Investments in financial products are subject to market risk. Some financial products, such as currency exchange, futures, contracts for difference, options and warrants are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. Trading currency exchange, futures, contracts for difference, stocks, shares, options and warrants on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in currency exchange, futures, contracts for difference, options, stocks, shares and warrants you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with currency exchange, futures, contracts for difference, options, stocks, shares and warrants trading, and seek advice from an independent financial advisor if you have any doubts.