Many people ask me: Can you share a few Tricks to learn Currency Trading?
This happens because people would Forex Tricks and Tips that everybody can understand. Then, things simple and effective.
First of all, I tell you that I hate everything that seems difficult for newbies or expert traders. I don’t make and I don’t share complicated things, even if you pay me. Indeed on Profiting.Me I show how important is the simplicity in trading and how it pays.
People who show a complicated trading approach are not the best Forex traders to follow.
In the same way, traders who use to fill the mind with abbreviations and trading words have nothing for you.
Besides, traders who show charts stuffed with indicators will not make you rich.
All these people have nothing to give you. The most of them are traders who like to engage themselves in irrelevant things.
I spent a few years to become profitable in a proper way. Since that moment I improved my trading practice earning more money year by year.
In my whole Trading Career, I have never seen, this kind of Traders survive to their trading approach.
Instead, I have seen Traders with a very simple trading approach, take a long road without never come back.
You should ask yourself:
- All the information that these traders are giving to me will make me a profitable trader?
- Are we sure that these traders with their incomprehensible charts are able to earn money?
Besides, stay away from who gives or sells Trading Signals.
They will make you lose money so as they will steal your money giving to you trash.
Simplicity in Trading pays the Largest Rewards
There are valid Tricks to learn Currency Trading in several Forex trading techniques. People find many Forex tips and strategies and this doesn’t help them in the right way. Indeed, even after many years some of them can have difficulty to become profitable.
All the Tricks to Master the Currency Trading comes from the Simplicity.
The more simple are the tricks, the more money you earn using them.
First of all, you need to educate your mind to a very simple trading approach. This means that the most of the information that you find around are completely unuseful. I never will stop to repeat this.
As Second, you must remove all the habits that you built basing your trading on the wrong information.
In this way, you will set your mind to approach to a Simple Forex Strategy.
From this point, the right thing to do is to learn from the right mentors. For this purpose, you can also choose to study on Profiting.Me.
The simplicity comes from the clear comprehension of the Price Action.
This means No Stochastic Indicators, No RSI Indicator, No Moving Averages. Besides, No divergences or more. So, No Artifices for your trading that distract you from the Price Action.
You can crap all the Indicators and Oscillators you use and throw them in the trash.
Trading Indicators don’t give you low-risk trading opportunities. They are always late. Indeed, they induce you to trade when the low-risk opportunities are not more there.
See AlsoWhat Is Day Trading? - Mindfully Trading Forex & StocksIdentity Crisis on Holding a Stock... Swing Trader? Day Trader? #HungryForReturns 34 - TradersflyOptions Rights & Obligations for Option Traders Explained Ep 244 - TradersflyTop 8 Mistakes New Day Traders MakeIndicators and Oscillators are not Tricks to learn Currency Trading. In the same way, they are not Tricks to earn money. They induce you to take high-risk trades.
The Impact of the right Mentors
You see that I use a trading language that is different of many other traders. In the same way, you see that I never use many trading words that are very common for traders around. This happens because my Multimillionaire Mentors educated me to their trading approach. Doing this they show how simple is their trading practice.
Their focus is on the profitability and on the risk evaluation. Nothing else.
A True Trader is not a Trading Library, but he must know how to master the money. Indeed, a mentor shows you how he makes money and you must listen to him. Period.
Instead, if you are looking for a Trading Library, go to use Google.
Multimillionaire Traders may have such an impact to change your Trading Practice forever.
It is what happened to me. Of course, their tuition could not be for everybody.
What I have experienced learning from my mentors is that all them have a very simple trading. They have a very simple logic around their trading approach. Indeed, that simplicity makes them rich.
If you are looking for the best forex strategy for consistent profits you must think in a very simple way. In this way, your way to practice trading becomes easier and very simple.
Trading becomes the repetitive use of any Simple Trick that let you raise cash from the market. This is what makes you rich.
Then, the Tricks to learn Currency Trading are a part of a repetitive Forex Success Formula.
Simple and Remarkable Tricks to Learn Currency Trading
Every newbie trader looks for a smart way or for a shortcut to earn money.
That’s why Scammers and Thieves thrive in Trading.
The Truth is that there is no shortcut in trading to become a millionaire trader. From the other side, every smart way to trade demands awareness and months of practice.
What I want to show you is a small collection of very simple tricks to understand currency trading. By these tricks, I show you fundamental aspects of the Price Action so as of Supply and Demand Trading.
Be aware that Trading is a work of probabilities. So every trick is valid until the market favors it. This means that any trick you can use in a Trading Scenario carries a specific risk to fail.
Nobody is Smarter than the Market. Even those who steal your money in exchange of Trading Signals. Period.
Then, any trick can fail.
It is not possible to describe all the Trading Tricks in one post. Then, I show you the ones that could be a valid training to improve your Trading Practice.
Let me show this small collection of Tricks to Learn Currency Trading.
1 – The Trends Hierarchy favors low-risk entries
According to Investopedia, a very Generic and usefulness Definition of Trend is:
A trend is a general direction of a market or of the price of an asset. Trends can vary in length from short to intermediate, to long-term.
Now, let me share my Specific Definition of Trend and all the reasons around it.
What is a Trend
The imbalances between the Supply and Demand willing that keep up a momentum in a direction, mark a Trend.
This means that the prevailing of the Supply willing takes out Demand Price Ranges one by one. In the same way, the prevailing of the Demand willing takes out Supply Price Ranges.
The swings define the trend so as the imbalances mark the beginning of the swings.
Then, the unbalance pushes the price outside of a range inducing a momentum.
The momentum keeps the price in a direction until it persists.
So, you have a Chain of Higher Lows in a Bullish Trend. In the same way, you have a Chain of Lower Highs in a Bearish Trend.
Trends Hierarchy
Any Main Trend is a series of Smaller Trends. Indeed, any Swing of the Trend is a series of Smaller Swings.
The imbalances that mark the large swings in the main trend are strong. So, for any large swing, the smaller swings follow the momentum induced.
The weaker imbalances start the smaller swings. These smaller swings, one after one, mark the Parabolic Rotation of the large swing.
So, the Larger Swing includes the Smaller Swings. This process continues and you see that the smaller swings include swings that are even smaller.
Then, the imbalances at the beginning of large swings have a Higher Relative Strength. Instead, the smaller swings that make a large swing of the main trend have a Lower Relative Strength.
To understand the Trending, you look to the Pivots in all the time frames of your interest. You can define a Main Trend from the 6-3-1 Months Charts and then you go to the lower time frames.
The Price Action is unique and it doesn’t depend on the time frames.
Instead, different time frames show different Pivots that mark the swings. And they show the Relative Strength of the imbalances, from the higher to the lower time frames.
Every trend that you mark in the higher time frames is stronger that the ones in the lower time frames.
This happens because the imbalances in the pivots of higher time frames have a Higher Relative Strength.
2 – Breaking of a Strong Trend and Retracing Back
One of the easiest Tricks to learn Currency Trading is “how to trade the Trend Breaking”.
This is also one of the first things that every trader learns at the beginning of his career. It is also in every book with a topic like “Forex Trading Tips for beginners who want to earn”.
But knowing the Trends Hierarchy and Supply and Demand Trading, you have more details. Then, the Trend Breaking becomes an opportunity easier to trade having some specific circ*mstances.
The Trends Hierarchy shows the Relative Strength of the imbalances. In the same way, it shows also which imbalances break the Trend.
In the Main Trend, the Pivots in the 6-3-1 Months Charts show the stronger imbalances.
The imbalances that mark a trend on these time frames have a higher Relative Strength.
So the breaking of these strong trends offers low-risk trading opportunities.
During the breaking of a trend, a new unbalance pushes the price over the Pivot Chains. To make this, the new imbalance takes out an opposite Supply or Demand Level. This starts a new Price Consolidation over the trend.
There are different circ*mstances that make this happens. Here a couple of examples:
- Convergence with a strong Supply and Demand Level. This pushes the price in the opposite direction, marking the peak for the first swing of the price consolidation. Then the price action could mark the second peak, giving a trading opportunity.
- No convergence with an old and strong imbalance. A Reversal Point marks a new Supply or Demand Level before the breaking of the trend. So, the imbalance could push the price over the trend in a strong way, to give later a trading opportunity. This offers a higher risk entry.
Pros
- The price action offers low-risk entries with the breaking of a strong trend. This happens in those cases where the price retraces back to a new and fresh Supply and Demand Level.
Cons
- The breaking doesn’t guarantee the changing of the trend. It starts a Price Consolidation. This doesn’t mean that the price will retrace back so much to approach to the broken trend.
- If the price spends too much time in the consolidation, the risk becomes higher day by day.
3 – First Peak at Left and Second Peak for the Trend Rotation
One of my favorite Tricks to learn Currency Trading comes from a set of Rotation Frameworks.
Any Rotation Framework has several Trading opportunities with different Risk Degrees.
When the price persists to keep up a trend, new big orders can push it far away from the trend. In this circ*mstance, the price would retrace back to the trend, converging to a strong and Persistent Level.
This price behavior marks a new Pivot changing the price progression of the trend.
This doesn’t break the main trend. But, the convergence at the end of the price correction pushes the price again in the trend direction.
So, you see that this particular price action can offer a first low-risk opportunity to Sell high or Buy low. But this is possible only if the next convergence is with a Strong level.
The new convergence marks a new Pivot, breaking the trend by the new imbalance. This pushes the price again to the Persistent Supply or Demand Level.
The breaking of the trend marks new and fresh Supply or Demand levels. So, the Retracing Back from the Persistent level offers a new trading opportunity, marking a new Pivot at right.
This particular price action is one the most famous Tricks to learn Currency Trading. It is also something that happens very often in the Trend Rotations.
Pros
- The retracing back after the breaking of the trend marks the end of the trend rotation. So it is a low-risk entry and it is where the new trend begins.
Cons
- The retracing back could be very Choppy. This increase the risk for the trading opportunities because the price could spike over the Supply or Demand Level. A Choppy Price Action carries always high risk.
- The trend could be weak so as the price could not converge to a strong Supply or Demand level. Then a Trading Plan could fail.
Conclusion
It was possible to talk of only a few points about the Tricks to learn Currency Trading. There are many Tricks that an expert trader use during his trading routine.
First of all, it is important that the trader understands the Price Action in a proper way.
For Second, he must have clear how to understand the risk around any trading opportunity.
For Third, in a Trading Price Range, it is possible to have several trading opportunities with different risk degrees.
Any Trick to use for trading shows which are the trading opportunities and their risk degrees.
The Trend Breaking shows the easiest Tricks to earn money. Of course, if there are specific and favorable circ*mstances.
All these Tricks to learn Currency Trading are not a Secret. They are not part of secret Forex trading strategies. Instead, they are the result of the experience. Besides, they are part of All the Forex trading strategies that work.
Supply and Demand Trading explains very well what happens around the price changes. So it shows what keeps the price in trend so as what breaks the trend.
Supply and Demand Trading reduces the risk of investment in a consistent way.
Indeed, Supply and Demand Trading is the best Forex trading strategy ever. This is possible because Forex is a Liquid Market. All the Liquid Marketplaces work in a similar way.
My students learn from me on Profiting.Me what I do day by day for my trading practice. So they see my way to use Supply and Demand Trading.
So, let me ask you some questions:
- What is your personal experience with the Trends Hierarchy?
- What Tricks here described is familiar and easy to trade for you?
