Part 13: Professional Price Action Forex Trading Strategies

Nial Fuller’s Professional Forex Trading Strategies

Hey traders,

Since you have completed my Free Beginner's Forex Trading Course, I'd like to provide some insights into my trading philosophy, including why I trade in the manner in which I do, the methods and strategies that I teach, and how I may assist you in becoming a more successful forex trader. I hope you have loved completing this free course as much as I have liked putting it together, and you should now have a strong understanding of what the Forex market is and how it is traded in order to move forward.

Knowing the fundamentals of the Forex market is important, and every trader should be familiar with them, but if you are serious about generating consistent money in the markets, you must master real-world trading tactics that will give you a high-probability trading advantage over your competitors. For additional information about myself and my price action trading techniques, please see the following:

About Nial Fuller:

Trading in the markets has been a part of my life for more than a decade, and I've learnt every thing there is to learn along the road. It is possible that the most important lesson I have learnt is that "simple is better," and that this is the major idea I attempt to transmit to my pupils, and it is one of the reasons why I don't utilize a lot of indicators or complicated trading systems. After becoming a successful trader, my major goal has been to assist other traders in "seeing the light" of basic price action trading. I am quite enthusiastic about Forex trading, and I know that many other people are as well, but sadly, there is so much false information out there about it that it may be extremely tough to get started on the correct road in the beginning. When it comes to trading mentoring, my objective is to make things as easy as possible for everyone. That route is paved with the price action tactics that I have discovered to be quite profitable over the years. For a reminder on what price action trading is all about, be sure to check out Part 6 of the course on price action analysis, which can be found here.

How I trade with price action

• My core trading philosophy

To put it another way, my particular trading technique is entirely based on interpreting the price movement of the market in its "natural" form, sometimes known as "Price Action Trading Analysis." Instead of employing indicators or complicated systems, I just trade from a price chart that is not manipulated in any way.

I have an arsenal of strong price action patterns that I look for in the market's overall structure, and I use them to make trades. When the market is in an uptrend, for example, I will seek for price to retrace to a support level inside the upswing, which I believe to be a "value" region, and then I will wait patiently for one of my price action signals to confirm an entrance into the market. I will sometimes take a counter-trend trade setting or a range-bound market trade, despite the fact that the bulk of my trades are in the direction of the market's current trending.

When trading, regardless of where the market is going, one of the most important things I look for is "obvious" price patterns emerging at "critical" levels in the market. When I see that one of my trade setups has established at a critical level in the market, I consider this to be a confirmation indication that I should enter a trade. Given that there are only a 'few' strong signals each week, I spend a significant amount of time just waiting for a trade chance to present itself. Last year, I published a very popular essay on the notion of being a patient trader who waits for trading chances to present themselves. You can read that article here: "Trading Like A Sniper."

For the sake of summarizing, my trading strategy is predicated mostly on identifying many pieces of "evidence" that work together to confirm an entrance into the market. This is referred to as "trading with confluence" by professional traders. When it comes to my price action trading systems, trading with confluence refers to the process of searching for many elements on the chart that support the case for entering on a price action signal that has developed.

Overall, my trading approach seems to be fairly basic, and it is, to be honest, but as I previously said, simplicity is preferable in the world of forex trading. For the record, I'll be completely honest with you: many unsuccessful or inexperienced traders are drawn to extremely sophisticated trading tactics, which is almost always the cause of their final failure. As a trader who has "been around the block" a few times, I have a good understanding of what has worked for me in the markets, and I believe it is my responsibility to share this knowledge with other traders. In this regard, my first aim as a trading mentor is to educate my pupils how to trade using a straightforward forex trading strategy as their starting point.

Please see the following video to see how I trade in-line with the trend using one of my favorite price action signals, the pin bar trading approach, as shown in one of my recent videos:

• My favorite markets and time frames

If there is one lesson you should learn right away that will save you a TON of time and money in the long run, it is that trading the daily charts is the most straightforward way to achieve your trading objectives. Now, in order to be a little more explicit... If you begin your trading career by trading tiny time frames such as the 5 minute and 15 minute charts, you will undoubtedly encounter a great deal of aggravation, wasted time, and financial loss as a result. You see, since these tiny time periods include more factors for you to evaluate (and over-analyze), there is more "noise" or random price movement that isn't actually relevant or important for you to consider. With each successive time frame increase in length, a natural "filter" is created, which tries to smooth out the noise and confusion of the previous time frames. The daily chart offers the finest overall perspective of the market, as well as the most efficient filter against the noise that may be seen in the smaller time frame charts. I also trade the 4 hour time frame on a regular basis, as well as the 1 hour charts on occasion, but I never look at any time frames lower than the one hour.

My favorite markets to trade are the EURUSD and the AUDUSD, but I will normally check through all of the main Forex pairs each day in search of trading opportunities based on price action patterns. Other than gold and silver, I also look at crude oil, the Dow Jones cash market, and several of my local Australian stock indices on an as-needed basis.

Why I trade the way I do

As I have said several times, I am quite straightforward in my approach to the markets and trading. My years spent "in the trenches" of the markets have underlined the need of eliminating all superfluous factors from my trading. A common mistake made by traders is to over-analyze the market and get confused as a consequence. This leads to them trading emotionally and thus losing money. As a result, I have no desire to sit in front of my computer screen, looking at the 5 minute chart like a zombie trader on the verge of a nervous breakdown. The daily charts are my preferred trading platform, and I like to trade in a comfortable and stress-free manner. If a trade setup satisfies my pre-defined criteria, I join the trade; if not, I walk away till the following day, normally.

The importance of having a patient and methodical approach to your trading cannot be overstated. It is much preferable than attempting to be a day trader or to enter 20 deals every week. If there is one thing you take away from this free course, it should be this: trading time frames less than one hour and rushing your transactions will not result in you making money quickly. You will earn more money more quickly if you are a patient trader who looks at the charts on a daily basis. The success of a forex trader is assessed in months and years rather than days or weeks. So, if you remember nothing else from this website, keep in mind that progress is made more slowly and steadily.

What you will learn from me as your trading mentor.

I like to think of myself as a bit of a "contrarian," both in terms of trading and, to a lesser extent, in my daily life as well. I've discovered that if you do what everyone else does, you'll get what everyone else gets, and when it comes to trading, this method just doesn't work since the market is unpredictable. The reality is that most traders fail to make money in the markets, and as a result, they get angry and agitated, lose money, and waste time. They also lack a clear trading strategy or forex trading plan, which makes it difficult to succeed in the markets. As a result, if you wish to be like the majority of other traders who are fascinated with indicators and "magic" robot trading software, you will most likely lose money rather fast, as would the majority of other investors.

Everything I say is straightforward, and my reputation has been founded on this principle. So, what I will tell you is that if you want to learn from me, you will discover honest, long-term, and sustainable price action trading approaches that are both profitable and sustainable. I will show you how to interpret a price chart's natural price movements and how to identify high-probability entry locations within them. You will acquire a discretionary trading sense that will enable you to trade for yourself indefinitely; this is a talent that you can use to any market, not just the Forex market.

If you follow my trading method, you will never need to purchase a signal service or enroll in a $5,000 trading school again, because I will teach you the one and only trading approach you will ever need. I really believe in the ancient adage, "teach a guy to fish, and you will feed him for the rest of his life." Nobody can convince you otherwise: stiff mechanical systems will inevitably fail in the long term, regardless of what anybody else tells you... You MUST learn to READ and make sense of the price movement of the market, and you must learn to ebb and flow with it in order to be successful in trading. In essence, the market is dynamic and continuously changing, and you need a trading technique that will allow you to trade successfully in this sort of environment, such as swing trading. A market will change over time, and as a price action trader, you will have the capacity to modify and adapt along with the changing market conditions.

In closing:

I'd want to express my heartfelt gratitude to each and every one of you who has persevered through this Forex introductory course to this point. With this information, I hope you have a better grasp of the foreign exchange market and forex trading in general. Whatever road you choose in your Forex trading career, I wish you the best of luck, and if you remember nothing else from this page, keep in mind that'simple is better' when it comes to forex trading.

If you would want to continue learning about the strength and simplicity of Price Action, you might consider enrolling in my Professional Price Action Forex Trading Course and Trading Community, which can be found at this link. Upon enrollment, my students will have lifelong access to all of my advanced price action Forex Courses, including video lessons, webinar tutorials, a daily trade setups email, a trade setups discussion forum, a traders help line, and free continuing course upgrades.