How Do I Use My Knowledge?
CeamoreCash
Posts: 2 ✭
in General
I've been studying the markets very casually for a few years now.I understand the components of price action. My questions are as follows
How do I use my knowledge of price action to weed out the bad trades
(do I just count how many components: such as volume and wicks are for or against me )
When I do back-test how do I differentiate a Bad trade from one that just went against me?
How do I find or create profitable strategy
(do I keep jumping from strategy to strategy until i find one that is profitable, or do I take one strategy and back-test it review my mistakes and repeat until it is accurate? )
Comments
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Price action requires experience and that takes time.
I can't just give you a few words here and then you are a master so here is my price action playlist, check it out, see how I trade, it might help:
https://www.youtube.com/embed/videoseries?list=PLQpU95jQlIGJQVV3_j1jLnOndJ6V9axoR
I also do live webinars from time to time so it might help and you can ask questions, I will do one around the end of month for beginners but sometimes
I do more advanced ones too. -
Thanks
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the answer to all your question is strategy. A strategy based on entry criteria will set you up to weed out bad trades, that is the whole point, and to differentiate a bad trade from one that goes against you ask yourself this... did you follow entry rules? if so it went against you, if not it was a bad trade.
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Yeah, it's not that easy to choose or improve a strategy, and I don't even know which advice to give you so that everything works out for you. I only know one thing - that you need to work hard and then in any case there will be a result, sooner or later.
