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  1. #1
    Senior Member raymond09's Avatar

    Is it simply Price Action? !!!

    I've been trading for a while now and have tried various techniques. Currently, I use signals and general Price Action using Support and Resistance Forex lines. I've been keeping track of winning % but and have been going through winning and losing streaks and it's hard to tell which techniques work and which are simply luck or even bad luck. I was wondering if you could spread some light on what techniques you find the most successful traders use. Is it simply Price Action?
    Price Action is such a broad topic and even that doesn't narrow it down.....

  2. #2
    Solid Member Murphy13's Avatar
    Hi, raymond09. I think the best way to master your skills in trading is the simple price action, combined with economic news and data analysis. You could follow our PROS tips and comments on the market situation, ask them and this way you will feel better what is going on in the market. Support and Resistance levels are important part of the game, but they alone couldn’t give you the necessary edge in trading in order to be profitable! You need more skills to improve before that!

  3. #3
    Veteran Member uj.forex's Avatar
    i agree with murphy...

    price action is quite a broad thing, but still you can be trader who can trade in a trend based on it.... fyi, the price action theory works amazingly on AUD/USD pair.... just focus on few candlestick patterns

    1- bullish hammer
    2 - shooting star
    3- engulfing
    4 - Doji

    read about these 4 candlestick forms, and use them alongside with support and resistance levels so that u can set ur STOP LOSS as well.... using Fibonacci retracement is also good ....

  4. #4
    Solid Member susan's Avatar
    Price action theory is a whole universe for me. It is not just one or another candlestick pattern. It is about their combination and their relation to important S/R levels. But when you master it I am sure it will be priceless!

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by susan View Post
    Price action theory is a whole universe for me. It is not just one or another candlestick pattern. It is about their combination and their relation to important S/R levels. But when you master it I am sure it will be priceless!
    Now here's someone with a good understanding of the principle behind PA.

  6. #6
    Rookie Member
    Sorry for a naive question, but are there such things as volume in binary options and is there a list of any money waiting to be matched should the price move in a particular direction?

    I ask this because I am very new to this (I have only begun practicing in a demo account) and I have come from trading horse races on Betfair (where I have been banned for costing them money here in Australia ). Anyway, on Betfair you can see the volume of money waiting to be matched on either side of the current back and lay/bid and sell prices.

    This "weight of money" really helped me in my trading in trying to predict the next shift in direction and so was wondering if there is anything similar in binary options (particularly the currencies).

  7. #7
    Solid Member
    Hi, Sedda!

    There is really no such thing like volume in Forex trading. Especially in the way you know it in other betting areas. Forex is decentralized market and nobody know exactly what is the actual volume traded. Only using the tick volume (number of ticks in a given period of time) you could measure at least relatively how many trades are made during that period. There is a measurable volume only in the stock market, where the information about each stock trading activity is public and the stock exchanges often give this data to information websites, like Google finance where you could see the volume. This could help a lot, but it is more complex relation and not often obvious. If you have any other questions feel free to ask us!

  8. #8
    Junior Member
    How about this year please guys. Any tips for a newbie trying to make it into Betting?

  9. #9
    Active Member COGSx86's Avatar
    Quote Originally Posted by rourkem View Post
    How about this year please guys. Any tips for a newbie trying to make it into Betting?
    Add me on skype I will help you out, in the mean time

    Cogsx86

    http://forums.binaryoptionsthatsuck....)-with-S-amp-R

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