What is a John TempletonΒ Price ActionΒ for Cheap?
You know we live in a time where only 5% of the trading public is making money in the forex market. Why do you think that is?
Do you think itβs because the successful traders are smarter or have a better education than the unsuccessful? That couldnβt be farther from the truth. There are plenty of successful traders who never even graduated from High School. Intelligence, or lack there of, has nothing to do with it.
Do you think itβs because the successful traders can afford all the expensive trading software to trade with? Really???β¦β¦.I think you remember my point about people wasting their money on needless charting platforms.
Guess again.
Do you think it could be because the successful traders know the βholy grailβ? Wellβ¦..I hate to be a myth buster, but there is no such thing as the holy grail. At least, not in the way that you think it does. There is no magical formula that will unlock the million dollar secret to trading.
Give up? Itβs simple: Interpretation.
The successful forex traders understand that the market is not mechanical, and shouldnβt be handled as such. They understand that in order to be successful you have to analyze and interpret the market.
Somewhere along the way, words like analyze, interpret, and subjective became dirty words in trading.
Traders didnβt want to have to think. They just wanted to be told what to do. But thatβs not what trading is!
Any Idiot Can Create A Forex Trading System
Donβt believe me?? Just go to one of the many popular forex forums that are on the internet.
Youβll see literally thousands of forum threads with traders creating their own forex trading systems. Other members of the forum go to the thread and then start trading that particular system.
What usually happens? It doesnβt work out too well. Why do you think that is?
Wellβ¦β¦for starters, it probably is an indicator based trading system. In other words, itβs a system that could be using moving average crossovers, just for example.
Doesnβt really leave much room for interpretation if all you are doing is buying and selling when a couple of moving average lines cross one another.
The other problem is the fact that you are ALWAYS supposed to be trading when the lines cross one another. Let me tell you something. There is no such thing as ALWAYS in trading.
Lastly, you are not separating yourself from the other traders.
Let me put it to you this way:
If there was a mechanical forex trading system in which you can make incredible returns, get a high winning percentage of trades, low drawdown, and be able to do this without having to analyze the market, then why in the world is only 5% of the trading public making money???
Donβt you think if mechanical trading was really that simple, there would be more people making money?? After all, we would all just be trading the same mechanical system everybody else is. We would all have the same entries, exits, etcβ¦.. because the parameters would all be the same.
Price Action Is The Greatest Equalizer
It is what really separates the boys from men, when it comes to technical analysis. Heckβ¦β¦. IT IS technical analysis.
When you donβt use indicators, you actually understand why you are taking a trade. You are not taking a trade because Stochastics are oversold or overbought. YOU are the one the making the decision, and best of all YOU understand it, and YOU are able to explain it.
There is no getting around it. If you want to trade the markets, you are going to have to understand what you are looking at. Make no mistake about it. Chart-reading is a skill. Itβs not some βholy grailβ forex trading robot you can turn off and on.
From the first ever day that the stock market opened, there were floor traders who were analyzing the price movement of a stock as it was going up and down.
People like Jesse Livermore became rich at the beginning of the 20th century just being able to follow the price movement by LISTENING to the direction it was moving in.
He was able to spot natural support and resistance areas in the price just by paying attention. This is somebody who didnβt have the technological advancements that we have today. Whatβs our excuse???
We shouldnβt have any excuses. None whatsoever. Traders have just become too dependent on technology. Instead of taking the time to learn how to properly analyze the markets, we have traders that want all these gadgets, bells, and whistles to do the analyzing for them.
What Does Price Action Tell Me?
Well, in shortβ¦β¦..everything (at least from the technical analysis side).
You know how people read a book? Or how you are reading this right now? Wellβ¦..thatβs kind of how this works.
You can start from the left of the chart and start reading to the right, just as you would read a book.
- You can start to see support and resistance areas
- You can see where the market would have some breakout areas
- You can read the possible future direction of the price
- You can see how time is a factor in where the price will be going
- You can basically see exactly what is happening in the market
Yesβ¦..I know that there are indicators that will tell you where support and resistance lines are. Yesβ¦.I know there are indicators that will tell you where breakout levels are. Yesβ¦β¦ I know there are indicators that predict where the price is headed.
My suggestion is to test these indicators out for yourself. I am sure youβll be completely underwhelmed with how unintuitive most of them are.
Once again, if it was that simple to make money by slapping on a couple of these βmagicalβ indicators, then nobody would be struggling to make money.
You have to see it with your own eyes. You should be able to spot a support and resistance area just by simply looking at a chart. There are no formulas involved. Itβs all about comprehending what you are seeing.
My goal is to get you to see the market through your own eyes. Not filtered through a Stochastics, MACD, RSI, or any other lagging indicator, that supposedly has insight into the market.
What Youβll Learn In Price Action?
- How To Quickly Spot A Trend
- The Correct Way To Use Trendlines
- My Trading In The Buff Strategy (Currently being sold separately for $77)
- The Importance of βWicksβ In Trading
- A Really Simple Way To Spot TRUE Support And Resistance
- When And How To Use Fibonacci Retracements
- How To Trade The Market From The βTop-Downβ
- How You Can Literally Read A Chart From Left To Right
John TempletonΒ Price Action Index:
Β Β Β π 1 – Introduction To Price Action
π Introduction To Price Action.html (3.19 KB)
π header.jpg (69.41 KB)
π introtrend1.avi (28.67 MB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 10 – Trades
π 10th Trade Sell GBP-JPY Taken 10-01 +169 pips
π 10th Trade Sell GBP-JPY Taken 10-01 +169 pips.mp4 (29.84 MB)
π bb.txt (439.00 B)
π 11th Trade Sell EUR-GBP Taken 10-01 +94 pips
π 11th Trade Sell EUR-GBP Taken 10-01 +94 pips.mp4 (21.21 MB)
π 12th Trade Buy GBP-USD Taken 10-04 -78 pips
π 12th Trade Buy GBP-USD Taken 10-04 -78 pips.mp4 (23.16 MB)
π 13th Trade Sell NZD-USD Taken 10-05 -90 pips
π 13th Trade Sell NZD-USD Taken 10-05 -90 pips.mp4 (6.77 MB)
π 14th Trade Sell NZD-JPY Taken 10-04 -82 pips
π 14th Trade Sell NZD-JPY Taken 10-04 -82 pips.mp4 (22.44 MB)
π 15th Trade Sell EUR-AUD Taken 10-05 +332 pips
π 15th Trade Sell EUR-AUD Taken 10-05 +332 pips.mp4 (4.65 MB)
π 16th Trade Sell AUD-NZD Taken 10-05 +158 pips
π 16th Trade Sell AUD-NZD Taken 10-05 +158 pips.mp4 (19.16 MB)
π 17th Trade Sell NZD-JPY Taken 10-05 +45 pips
π 17th Trade Sell NZD-JPY Taken 10-05 +45 pips.mp4 (4.89 MB)
π 18th Trade Buy AUD-CAD Taken 10-07 +184 pips
π 18th Trade Buy AUD-CAD Taken 10-07 +184 pips.mp4 (18.23 MB)
π 19th Trade Buy EUR-USD Taken 10-07 +139 pips
π 19th Trade Buy EUR-USD Taken 10-07 +139 pips.mp4 (19.00 MB)
π aa.txt (439.00 B)
π 1st Trade Sell EUR-USD Taken 9-28 +125 pips
π 1st Trade Sell EUR-USD Taken 9-28 +125 pips.mp4 (42.91 MB)
π 2nd Trade Sell EUR-JPY Taken 9-29 +101 pips
π 2nd Trade Sell EUR-JPY Taken 9-29 +101 pips.mp4 (11.43 MB)
π 3rd Trade Buy EUR-NZD Taken 9-29 +44 pips
π 3rd Trade Buy EUR-NZD Taken 9-29 +44 pips.mp4 (6.77 MB)
π 4th Trade Buy NZD-JPY Taken 9-29 +48 pips
π 4th Trade Buy NZD-JPY Taken 9-29 +48 pips.mp4 (22.12 MB)
π 5th Trade Sell USD-CAD Taken 9-29 +102 pips
π 5th Trade Sell USD-CAD Taken 9-29 +102 pips.mp4 (6.08 MB)
π 6th Trade Buy AUD-NZD Taken 9-29 +28 pips
π AUDNZD928.mp4 (18.93 MB)
π 7th Trade Buy USD-CAD Taken 9-30 +82 pips
π 7th Trade Buy USD-CAD Taken 9-30 +82 pips.mp4 (6.42 MB)
π cc.txt (439.00 B)
π 8th Trade Buy EUR-USD Taken 9-30 -72 pips
π 8th Trade Buy EUR-USD Taken 9-30 -72 pips.mp4 (18.13 MB)
π 9th Trade Buy GBP-CHF Taken 9-30 -84 pips
π 9th Trade Buy GBP-CHF Taken 9-30 -84 pips.mp4 (6.46 MB)
Β Β Β π 2 – Trendlines
π 2a – Introduction To Trendlines
π Introduction To Trendlines.html (4.10 KB)
π Introduction To Trendlines.mp4 (113.08 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
π 2b – Correction from previous video
π Correction from previous video.avi (3.65 MB)
π Correction from previous video.html (4.14 KB)
π header.jpg (69.41 KB)
π resistance.png (12.18 KB)
π support.png (4.79 KB)
π xsp_styles.Css (4.92 KB)
π 2c – When Trendlines Break
π When Trendlines Break.avi (96.42 MB)
π When Trendlines Break.html (3.16 KB)
π header.jpg (69.41 KB)
π trendbreaks.jpg (77.11 KB)
π xsp_styles.Css (4.92 KB)
π 2d – Putting It All Together
π Putting It All Together.html (3.04 KB)
π Putting It All Together.mp4 (105.91 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 3 – Trading in the Buff
π 3a – Introduction To Trading In The Buff
π 123_down.png (1.57 KB)
π 123up.png (1.26 KB)
π Introduction To Trading In The Buff.html (7.54 KB)
π Introduction To Trading In The Buff.mp4 (15.97 MB)
π Thumbs.db (7.00 KB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
π 3b – Understand WHY It Works
π 123_down.png (1.57 KB)
π 123up.png (1.26 KB)
π Understand WHY It Works.html (11.12 KB)
π Understand WHY It Works.mp4 (50.43 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
π 3c – Significant Closes In Trading In The Buff
π Significant Closes In Trading In The Buff.html (4.28 KB)
π Significant Closes In Trading In The Buff.mp4 (28.86 MB)
π header.jpg (69.41 KB)
π significantclose2.jpg (43.56 KB)
π xsp_styles.Css (4.92 KB)
π 3d – What Happens When They Don’t Work
π 123counter2.jpg (46.90 KB)
π What Happens When They Don’t Work.html (4.21 KB)
π What Happens When They Don’t Work.mp4 (39.28 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 4 – Wicks
π Wicks.html (5.12 KB)
π Wicks.mp4 (47.42 MB)
π header.jpg (69.41 KB)
π notwick.png (273.00 B)
π wicks1.png (336.00 B)
π wicks2.png (237.00 B)
π xsp_styles.Css (4.92 KB)
Β Β Β π 5 – Spotting Support And Resistance Visually
π Spotting Support And Resistance Visually.html (5.36 KB)
π Spotting Support And Resistance Visually.mp4 (115.86 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 6 – Fibonacci
π Fibonacci.html (6.90 KB)
π Fibonacci.mp4 (121.75 MB)
π fibo1.jpg (71.62 KB)
π fibo2.jpg (65.55 KB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 7 – Why Closes Are So Important
π Why Closes Are So Important.html (4.05 KB)
π Why Closes Are So Important.mp4 (59.90 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 8 – Trading From The Top-Down
π Trading From The Top-Down.html (3.24 KB)
π Trading From The Top-Down.mp4 (33.37 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
Β Β Β π 9 – How To Read A Chart
π How To Read A Chart.html (2.77 KB)
π How To Read A Chart.mp4 (210.23 MB)
π header.jpg (69.41 KB)
π xsp_styles.Css (4.92 KB)
π¬ Feel free to REACH OUT to our CHATΒ support for personalized assistance and detailed information tailored to your needs.Β Weβre here to help!
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