At the moment, I will be focusing more on Price Actions.
I am following more closely to the Naked Forex book (Price Action) rather than the Kathy Lien's book. For Price Action trading, I will be looking at different currencies at a time rather than focusing and getting familiar with one. I learnt that from Nial Fuller, as he seem to be reading stories of different currencies and writing reports about each of them frequently.
But there are still many things that I learnt from Kathy which I can also apply. Like the Inside Bars trading and also the Double Zeros. For Inside Bars trading, I think it is what Nial Fuller refer to as 'Fakey'. For Double Zeros, it opened my eyes to charts. It helped me see what happens when price reaches 2 zeros behind, and I also managed to draw some of the resistance lines on them.
From reading these 2 great books, it emphasized and also made me see the important of horizontal lines, what are the resistance and support lines. I guess most traders are not able to make money without them.
I hope there are opportunities soon for me to start making money from Price Action soon. My account is dwindling for too long.
No comments:
Post a Comment