Price Action Trading Secrets Summary
Price Action Trading SecretsTrading Strategies, Tools, and Techniques to Help You Become a Consistently Profitable Trader: Discover proven trading strategies, tools, and techniques to help you become a consistently profitable trader.
Price action trading is a method to read the “secret language” of the markets, so you can use it to better time your entries and exits—without relying on indicators, news, or signal services.
And in Price Action Trading Secrets, you’ll discover the trading strategies, tools, and techniques to help you beat the markets.
Here’s a glimpse of what you’ll learn:
- How to become a consistently profitable trader without relying on fundamentals news, trading indicators, or signal services
- The ten natural laws of trading that nobody tells you (this is why 95% of traders lose consistently)
- The four types of market structure every professional trader must know. Once you discover it, you’ll know exactly what “tricks” the market is up to—and how you can exploit it to your advantage
- How to tell when Support & Resistance is about to break—so you don’t get caught on the wrong side of the move (which means you’ll reduce your losses and retain more profits)
- The secret to reading candlestick patterns that nobody tells you—so you can better time your entries & exits—and even “predict” market turning points
- MAEE Formula: A simple trading strategy to profit in bull & bear markets—without indicators
- An important signal the market gives out when it’s about to make a big move (95% of traders don’t know this)
- 70+ charts and examples so you can easily understand the trading strategies and concepts (and quickly become a master price action trader)
- And much more…
It doesn’t matter if you know nothing about price action trading because this book is written in a layman, step-by-step manner.
You’ll master the basics first, then gradually progress onto the advanced price action trading strategies and techniques—so you’ll be crystal clear every step of the way.
The best part?
You can apply price action trading across different markets.So whether you’re a forex trader, day trader, stock trader, or cryptocurrency trader—you can adopt price action trading and improve your trading results.
About the Author
Rayner Teo, an independent trader, and founder of TradingwithRayner.
If you want to learn how to become a consistently profitable trader, then go to tradingwithrayner.com
I wish you good luck and good trading!
Price Action Trading Secrets Introduction
Excerpt. © Reprinted by permission. All rights reserved.
When I was 20 years old, I read a book on investing called: Buffettology. It explained how the world’s richest investor, Warren Buffet, chose companies to invest in.
I was fascinated by how a man could become so wealthy simply by picking the right stocks to hold for the long run. Who wouldn’t be?
After reading Buffettology, I was hooked. I began looking for anything I could find to make myself a great investor.
I read books on value investing and fundamental analysis. After a while, I noticed the authors kept repeating the same three elements:
- Ensure the company has more assets than liabilities.
- Ensure revenue, net income, and cash flow are increasing every year.
- Ensure the company has growth potential.
Et voilà: The secret to successful investing!
Now, armed with my newfound knowledge, I was ready to pounce on any opportunities that appeared on the markets.
The first stock I bought was Sembcorp Marine in 2009 because it had solid fundamentals and the markets were recovering from the financial crisis.
I went long at $3.28 and told myself to hold this stock until the price doubled!
Five days later, I bailed out at $3.08. What a chicken I was.
Then, after some reflection, I realized my emotions had triggered this action. So, unwilling to give up just yet, and with the markets making a bull run, I knew I had to get back in the game.
Being naive and ambitious, I did more research and bought more companies—with margin.
Here’s what I bought: I went long on Noble Group, Keppel Land, and Sembcorp Marine with an initial outlay of $20,000.
In two months, I was up close to $10,000. But being a fundamentalist who was trying to emulate Warren Buffet, I held on.
At this point, I felt like a champion with a knack for picking stocks. Even my broker commented that everything I touched turned to gold.
Two weeks later, my $10,000 in unrealized profits vaporized. The euro debt crisis had hit the markets.
Now I had nothing to show but my bitterness.
Eventually, I bailed out of all my positions because I couldn’t bear the pain of watching my profits turned into losses.
After my failed attempt at being an investor, I figured being a trader would be better—and that’s when I started trading on the forex (foreign exchange) market.
Because I was new to forex trading, I looked to the oTI Internet for help. I browsed forums, books, and DUC whatever I could get my hands on.
My first taste of trading came when I was learning from a “guru” (on an online forum). He had a huge following and many traders worshipped him like a god.
I figured, they can’t all be wrong, can they? So I learned from him too.
He taught us to use Bollinger Bands, to buy at the lows and sell at the highs. I traded this strategy for a while and made money at the start, only to lose it all later.
Then, I came across a quote that said something like this: “Indicators are useless because they lag behind the markets. Focus on price instead.”
This led me to the world of price action trading. I learned about support and resistance, trendlines, candlestick patterns, and many other things.
Again, I had a few winning trades at the start, but slowly, the losses came and eroded all my profits.
At this point, I wondered to myself, “Maybe the strategies I’m using are too simple. I need to find something more complex so the chances of it working will be higher.”
This brought me to the world of harmonic patterns where I learned about stuff like the Gartley, the Crab, the Shark, the Cypher, etc. (I’m not kidding. Those were the actual names of the patterns).
Again, the results were the same and the cycle repeated itself for four-plus years.
At that point, I was frustrated and confused. I asked myself, “What the heck are the profitable traders doing that I’m not?”
After years of trial and error, I finally realized my DUC mistake. It wasn’t the strategies, the systems, or the o chart patterns.
Rather, my mistakes were rooted in my lack of understanding of the natural laws of trading. I fought against these laws and paid the price. But when I finally embraced them, my trading changed forever.
Today, I manage a seven-figure portfolio, trade across forex, stocks, and ETFs, and have more than 100,000 traders following my TradingwithRayner blog each month. What a ride!
So you might be wondering, “If you’re so good, why write a book and give away all your secrets?” That’s a great question. Here’s why: There are no secrets when it comes to trading.
If you’re talking about price action trading (or discretionary trading), then there are no secrets since most of the information can be found in books, courses, and online sources.
Also, price action trading is subjective. The way you interpret a chart will naturally be different from the way another trader sees it. For example, if you asked five traders to draw support and resistance lines, you’d likely get five different answers. This means that even if something is a secret, the subjective nature of price action trading will affect the way people interpret that secret.
And this brings me to the question: If there are no secrets in price action trading, then why write a book about it? Well, there are three reasons. Here’s the first one:
It will make me more money.
Here’s the truth. Writing a book will make me more money and diversify my sources of income. Also, if you think my book is good, there’s a good chance N
you’ll sign up for my premium training programs oTI in the future (and that will make me even more DUC money).
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Price Action Trading Secrets PDF
|Posted on||March 28, 2021|
|Page Count||140 pages|
Price Action Trading Secrets PDF Free Download - Epicpdf
Price Action Trading SecretsTrading Strategies, Tools, and Techniques to Help You Become a Consistently Profitable Trader: Discover proven trading strategies, tools, and techniques to help you become a consistently profitable trader.Price action trading is a method to read the “secret language” of the markets, so you can use it to better time your entries and exits—without relying on indicators, news, or signal services.
Author: Rayner Teo