9 Best Forex Trading Coaches 2023

16 Mar 9 Best Forex Trading Coaches 2023

We‟ll look at it first including some examples; then move onto the easier pattern based triggers. Stall A stall is evident when price displays a clear inability to continue beyond an area of setup support or resistance (whether higher https://forexarena.net/ timeframe S/R, swing H/L or range S/R). The number of candles in a stall is difficult to define – every situation is unique, and you‟ll know it when you see it – but I‟d usually expect at least 3 trading timeframe candles.

• Your approach does an excellent job of mapping out a more macro process.
• Price collapsing back below the level of A was enough for me to subjectively change the trend to a downtrend.
• Even if they‟re right and have managed to time an entry at or near a swing low, it‟s usually only temporary as the upswing proves to be a pullback within the continuing downtrend rather than a trend reversal.
• Wholesale entries ensure reduced risk and greater profit potential, as shown in figure 4.53.
• I no longer feel if the ship has sailed , I missed a trade.

Likewise, not everyone will be interested in the markets that I enjoy trading . The good news is that the strategy can be adapted to any market and any timeframe, provided sufficient liquidity and sufficient price swing to allow profits much greater than costs. To invalidate my plan, price will need to either continue its current strength right through the previous swing high, forcing a change of trend direction. Or price could stall at the area of swing high resistance, but fail to carry through lower. This would indicate a lack of bearish pressure and a high likelihood of continuing higher (if it‟s not going down, then it‟ll probably go up!!).

In this case I would use the area from the top of swing high A to the point of breakout above swing high B. Rather than encompassing this whole area, I‟d mark the support area as being the portion of the tails which broke the low side of the area of congestion at F. And discard what doesn’t; blending my approach with your previous knowledge and experience to create your own work of art. While trading success doesn’t come overnight, a trading coach can help you accelerate your learning curve. At your first session, a good coach should ask you about your trading experience and what your trading goals are, after which you should develop a plan together on how to achieve your goals. A coach will also help you get in the right mindset of a successful trader, teach you how to follow your trading strategy, and how to hold yourself accountable for any trading mistakes you make.

The Forex Trading Coach review – Pros, Cons, and Traders Ratings.

The challenge now will be mostly sizing in his trades with edge. He walked across that line from doubting developing trader to professional trader. This is your chance to do the doing and simply follow my steps through the transformation. I was able to break through bad behavior patterns that I’ve struggled with for years. Trading is not an easy profession to master, and just as it is important in competitive sports or performance arts, psychology is the key to success. Trading psychologist, Brett Steenbarger of Brett Steenbarger.com lists five important principles that will lead you to the right path.

This includes finding reviews of any product or service being considered, and touching base with those companies or individuals to see what they have to offer. We can also discard any offers that promise outlandish results or are hard to understand. Trading can be difficult, but learning about it should be much easier – especially if you take the time to seek out the best possible sources.

🟡  Develop a successful trading mindset to achieve consistent results

And this could be quite normal – within the expected variability of results. As a short timeframe discretionary trader, I’m aiming to grind out a living day to day. Each day I’m trading in a small subset of the larger sample. Whether it’s a period of outperformance or a period of underperformance is unknown, until the market can be looked back at with the benefits of hindsight. My goal is to manage the day’s opportunities as best I can at the time.

The limit order was clearly the best option in this case. 4.3.5 – When Price Enters Setup Areas Price approaching a setup area is not a guarantee that we‟re going to trade. It is however a time to place yourself on high alert for trade opportunity. Ensure you follow the price action bar by bar maintaining your feel for sentiment. And remain alert for areas suitable for stop positioning, targets and entry point, as discussed in the following sections. Third Principle – A sideways trend within the framework is expected to continue in its current state, unless displaying evidence of strength towards the range boundary.

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Just wanted to say, that I have been looking around for something that fits my way of thinking. I have only just started getting into reading price, as the strategy from before was an MA cross with stochastic and MACD cross. I was noting that I was often correct, but got in too late and was getting stopped out all the time! I was also noticing that there was a lot of the move that I was missing with the MA cross technique, so I wanted to start getting into the price, and that’s when I found your YTC Price Action Trader course. To anyone with some basic knowledge of markets and trading. I also continue to learn valuable trading knowledge from your website and I can’t believe it’s free.

If not… perhaps trading is not the right path for you? It‟s best to admit that early, before damaging your financial and psychological capital. You have a good idea of the degree of work required to conduct analysis and trade the markets. Take some time out to confirm your passion for this game.

The objective change of trend was overridden and the trend assessed as remaining sideways . The initial break swung back within the trading range to form swing high D. Note though that the move to D was very weak, unable to produce a higher swing high.

So, next people say, “Okay, I will read some books about mindset”

And naturally, anything I feel should be reviewed post-session and anything which I feel is suitable for inclusion in our market structure, lessons learnt journals. One final point… I find it beneficial for your trading coach review analysis and trade notes to preface each note with the current time, in case you wish to cross reference the notes with a chart. Trust the trend to continue, until it shows clear evidence of weakening.

You may wish to start with these and then adapt as required. And add any additional ones for areas causing significant difficulty. Step 3 – Trade Management & Exit Note the last candle on the RHS of figure 5.106 above. The initial break through LWP did profit from bearish orderflow driving price initially in our direction, but it was short-lived.

Watch out for traders getting trapped in a losing position. Remember your entry into the picture-perfect breakout which suddenly reverses back below the breakout point, placing you instantly in a drawdown and a low probability trade. Panic sets in as you watch price threaten your stop; you hold on in hope of a recovery; but more often than not stopping out seems an inevitable outcome. Trapped traders show on the chart in numerous ways. You‟ll see them in every YTC Price Action Trader setup. To introduce the concept though, two examples have been provided in figure 4.3 below.

HunterFX is suitable for personalities that are dedicated to learning and as well learn to trade without the stress of over-complicating forex trading. They have many traders on their team to make a consistent value-based learning curve. They offer clients the choice of copying trades or taping into personal growth with lifelong mentorship programs. The lewis Glasgow mentorship system is best suited for new and intermediate traders. The coaching content and services apply to traders of lower levels of experience aspiring to develop.

This is not necessarily an indication of a trend reversal. The higher prices that occur as a result of the bullish sentiment are unable to attract sufficient bullish orderflow to break the previous swing high and result in a trend reversal. Rather, these higher prices attract more selling, sufficient to match the bullish orderflow and halt the pullback. Sentiment changes again to bearish as more selling is attracted and as longs cover their position, recognizing that the upwards price swing is simply a pullback and not a reversal.

The best out there usually don’t have to promote themselves as they already have enough students, which makes finding them even harder. That’s why you need to do your analysis and look at places that aren’t that obvious at first, like trading forums and freelance sites. Some use long-term trading styles, while others focus on scalping or even algorithmic trading strategies. That’s why it is important to find a coach who suits your personal trading style. Serious trading coaches will often have an introductory interview with their clients to check whether their mentoring method is what their clients are looking for. Successful trading requires rules and a well-defined process of reviewing past trades.

We do this through the process of analysing the Close Position and the Close Comparison applicable to that pattern. As demonstrated in the previous examples, this is a quick process that should take no more than a couple of seconds. It provides us with a feel for the short term sentiment of the current candle pattern.