Repeatable Trading actions crucial to your Forex Trading success
What is a repeatable trading action from the PAT perspective?
I like to think of the market as nothing more than an ocean of people with forever shifting beliefs about future price.
People, like it or not are predictable, they are so predictable in fact that 95% of traders will experience predicable loss. These losses are caused by following repeatable actions. Part of this good, because you need repeatable actions to make money as a trader. The problems start when the repeatable actions are those that the 95% carry out.
An example of this will along the lines of buying on a move above a recent high or selling on a move below a recent low. Another example is the crossing of moving average lines. These are predicable trader actions and as such leave the 95% open to complete and total manipulation.
Here in this on line trading lesson I explain about PAT repeatable actions and why these are such low risk and high reward.
To be successful as a trader you need to be taking high probability trades, on a consistent basis with very small stops.
What does PAT provide…..? Well maybe watch the video.
March 24th, 2008 at 10:15 am
Martin this is a very useful video for a complete novice who has never done a trade in his life. Having read the book these video’s are starting to make sense and I am hoping the online course will cement everything for me.
Many thanks
Darren
March 24th, 2008 at 10:24 am
Hi Darren
Glad to hear this, try to keep in mind that forex trading indeed all trading is not difficult. The “perception” is of course that it is. Once you learn and understand what really moves markets they will start to “appear” to you in a most revealing way.
Here is a quick video for you.
Martin
If the video is blank above hit the rewind icon far left of the player bar.