Forex order book indicator light

Enter the characters you see below Sorry, we just need to make sure you’re not a robot. The Authority’ on Price Action Trading. Forex order book indicator light 2016, Nial won the Million Dollar Trader Competition. I want to hear from you!

I find that most traders who can’t seem to make any consistent money in the markets already know what they need to do to become successful, but they don’t make proper use of this knowledge. All traders have the motivation to make money in the markets, but most are focusing that motivation on the wrong things. I can almost assure this is not the case. I can also almost assure you that you are probably spending more time analyzing and thinking about the markets than most professional traders are. Professional traders trade what they see, not what they think or want to happen Many traders get caught up in a game of becoming so fixated on a particular thing happening in the market that they convince themselves the market is going to do what they think or want it to do. This of course causes them to do stupid things like over-commit themselves to a position or over-trade. They simply use their price action chart reading skills to determine the most logical and probable near-term market direction and then look for price action setups that agree with it.

Professional traders do not rely heavily on indicators I realized early-on in my trading career that indicators were not only clouding up my charts, but my thinking too. Professional traders know they need to have a thorough understanding of how to read a naked price chart as the cornerstone of their technical analysis skills. EA out there, and then they either give up or begin to simplify their trading. Professional traders don’t focus heavily on fundamentals Whilst there are pro traders who do use fundamentals, I can assure that most do not.

I bet you did, I’ve done it before, in my early trading days. Professional traders are realistic You will not become a professional trader if you aren’t realistic about trading. Professional traders have a well-developed discretionary trading sense As we discussed in number 4, humans have the ability to be much better traders than computers, because we have the ability to use discretion. Price action trading is a flexible and discretionary trading method, meaning not EVERY pin bar or other setup will be traded. Above and beyond everything else discussed here, not becoming emotional as you trade the markets is the most important factor that allows pro traders to make money.

Professional traders are organized and disciplined You need to be organized and disciplined to harvest and maintain the proper Forex trading mindset. Having a trading plan and a trading journal and actually using them will go a long way towards turning you into an organized and consistently disciplined trader. Traders who think they don’t need to be organized or who aren’t disciplined, usually behave this way out of arrogance. Basically, it’s money that you don’t need for any of your life’s expenses or for retirement or anything similar. So don’t go taking out a second mortgage on your house or borrowing money to trade, this is usually a huge mistake and often ends in tears.

Professional traders use simple trading strategies Finally, many beginning and struggling traders are surprised when they find out just how simple most professional’s trading strategies are. Which of the 12 reasons that pro traders make money surprise you the most? Maybe you already knew everything discussed above but you just haven’t been implementing it? Please leave a comment below and give me your feedback. These lessons are really making a difference in my trading experience thank you very much. If you read these people’s opinions long enough, you’ll soon either get a headache, enter a stupid trade, or just decide they are all full of crap. The latter is usually the best option.

PRO traders don’t listen to others but to Naked price charts. Brilliant I have tried quite a few and still do, never learn. I wonder How I wasted 8 month on analyzing different EAs. I have lots of mistakes but trying to get better and I feel profit for the very first time! This was a great post and I love the fact that you keep everything simple so that even a novice can understand!

Just putting this post up is a great thing and I appreciate it. I would love to talk to you about the markets sometime. As always, this article was very helpful, especially points 1, 3 and 12. I only ended up confused and mentally exhausted. I’ve cleaned up my charts now, even though a part of my mind still finds it hard to accept that professional traders do indeed keep it simple, but I’m trying to ignore that part of my mind now and I will definately keep my trading simple from now on. Point 8 is definitely an art, and Nial, you are THE EXPERT! I really admire Nial a lot.

He is the only really professional trader I know and sharing most of the things he does for free is just amazing. Soon I will be in your forum. I am almost a decade into fx trading and had ups,downs, quit and restarted. So thank you,always a good read. More than six points make sense to me here. That’s how prefessional trader trader the market.