462# Great Trend Trading System
I will say a big WOW to this. Thus, it is paramount to your success as a trader that you adopt the same trading philosophies that your new mentor or trading strategy teaches, wash your mind of what you have learned thus far and completely immerse yourself in this new approach to the markets. Accuracy of this forex trading strategy is the only thing that makes me fall in love with this strategy.
LR Channel with Market Emotions indicator
There are two moving averages of period One of them is applied to high price and another to low which makes these two moving averages move in a channel.
These two moving averages help to verify the trend of the market. When market is above these moving averages it is an uptrend and vice versa. There are arrows with different color in this system.
Any arrow pointing upward is an indication of buy signal and any arrow pointing downward is a sell signal. MACD has an oscillator and histogram.
You can ignore red oscillator and simply focus on histogram. When histogram is positive, it means market is under the control of bulls and vice versa. This indicator shows the overall summary of moving averages on different time frames. When multiple time frames show same thing that trend is strong.
And this indicator also gives the summary of the market condition. It tells you whether to sell, buy, or hold. This indicator lets you know if the market is up trending or down trending. If the indicator is green, it is a positive signal and the red indicates negative signal.
He was not born the best martial artist of all time. He earned that title through dedication and focus…he learned to become a MASTER of his craft…if you want to succeed in Forex you will need to do adopt the Bruce Lee mentality…. Forget everything you have learned up to this point in your trading career , because if you truly want to master a new Forex trading strategy you really need to wipe the slate clean of all the confusing indicator and software based trading systems you have likely used thus far.
One of the biggest problems that plague traders who are trying to adopt a new approach to the Forex market is that they seem to bring a lot of preconceived notions and failed trading concepts with them. If you really want to excel at Forex trading and adopt a fresh new trading strategy, you need to focus on one strategy or way of thinking and stop allowing previously failed trading methods to influence your current perspective on the market. Learning to master one trading setup at a time will help you properly train your brain to become more disciplined and objective, two characteristics that you absolutely must possess if you wish to excel at forex trading.
After you completely master one trading setup you will know almost instantly whether or not your setup is present, there will still be some discretion involved, but owning and mastering a setup means that you have fine-tuned your sense of discretion when it comes to deciding which trades to take and which ones to pass on.
The discipline and objectivity that you will require as a result of learning to master one forex trading strategy at a time should spill over into other areas of your trading such as managing your risk and remaining calm and collected. When your thoughts are scattered on multiple trading strategies and or you have little confidence in the strategy you are currently using, you are obviously not going to make very wise trading decisions. Essentially, our goal in mastering one setup at a time is to reduce variables in our trading, many traders do the exact opposite when starting out by actually increasing variables through analyzing greater and greater amounts of technical and fundamental market data.
Obviously, if you are looking for a new trading strategy or mentor, what you were doing before was not working for you. Thus, it is paramount to your success as a trader that you adopt the same trading philosophies that your new mentor or trading strategy teaches, wash your mind of what you have learned thus far and completely immerse yourself in this new approach to the markets.
In regards to what we teach here at learn to trade the market, this means learning to master one price action setup at a time, as this is how I initially found success in the forex market and so it is also what I recommend all my students do.
As I have stated previously, after you master one price action setup you can move on to master another, until eventually your forex trading arsenal is fully loaded.
What do most people that make a lot of money in this world have in common? What do Tiger Woods and Bill Gates have common? Or how about George Soros and Venus Williams? But what is the fundamental reason, behind all else, that these people and others like them make so much money while the rest of the world struggles to get themselves out of bed in the morning?
People that make a lot of money focus in on one thing that they are passionate about, and they do it over and over and over until they achieve the result they are looking for. Simply put, you cannot really make a lot of money at anything in life if you master nothing. Had they got involved and distracted with numerous other side-projects or interests they simply would not have achieved what they did. Become an authority on each price action setup before you move on to the next, there is no sense in doing anything half-ass in this world, and trading price action setups is no different.
Mastering one price action setup at a time is accomplished through literally making it the only setup you think about or look for when interacting with the market. You essentially live, breath, and sleep this one setup until you feel confident you know every angle and condition it can or should be traded in. Keep a trading journal to record under which market conditions the setup excelled in and which conditions it performed weaker in.
Find all the information out on the setup you choose and learn everything you can about it. Once you do this you can begin implementing this knowledge on a demo account, only after you master this one setup on a demo account should you attempt to master it on a live trading account.
In closing, a very important distinction to make here is that one price action setup does not only mean entering a trade when you see a well defined pin bar or other price action setup.
To learn more about mastering the price action setups that I teach, check out my price action trading course. Thanks Heaps Nial, I had to read this article a second time and now see that it makes a huge amount of sense. For me it is engulfing candles and pin bar. I only trade these on daily. I may add more later in my forex career. Patience truly is needed in forex market In order to master price action.
Stick to a set up no matter what. Thanks Nial,you provided the best to all the traders,we have been trading but your shared information is useful we have been missing those explained parts.
I have discarded all for Price Action! With it the universe will be the limit to my success. This article really inspires me to become a better trader. On the spot Nial, this is in fact very true, one workable strategy is good enough provided we have faith in using it, without it our emotions tend to sabotage our trades before we know it….
I used to get confuse on where to enter the market and where to exit until I come across your website,now with price action setup my confussion is almost over. Niel you are wonderful. I have been drinking and eating the inside bar setup.. I find all your articles very interesting, but this one is simply the best; at least for me, this is the one that puts a developing trader on the path to excellence.
Which one occurs most often? I loved the concept of being a focused expert in one area before moving on to another…well done! For a time being I am learning to master on the trend line and pin bars setup, it is a real magical on 1,4hrs and daily chart. I study over the weekend and and wait for the entering point and when to get out.
Anyway thanks again for your nice articales. Thanks Nial for the articles. I think I am finally getting schooled in fx trading. I would like to takr your course. Thanks for all your write-ups and mentorship. Thanks Nial you have being my great mentor. Your timing seems to be psychic. This particular lesson is motivational. I will look at all your inside bar price action data again along with other important data that is germane.
Thanks Nial,this helpul article has once again come at the right time. This is great stuff Nial… Im actually in the process of bringing one of my trading friends over to your course. Thanks for everything Nial!! Your email address will not be published. Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information.
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