Price Action Trading and Its Advantage
Price Action Trading and Its Advantage In this video, we will focus our discussion on the topic of Price Action Trading and its advantage as
Mastering an algorithmic trading process is a vital component of becoming a successful trader. So how does a new trader execute an algorithmic trading system effectively and efficiently? The key is to work smarter and not harder, to hone these essential skills of becoming consistently profitable in the financial markets. In this video, we will continue our discussion on the second secret of professional traders’ success, which is the importance of mastering the algorithmic trading process of a profitable trading system.
As we discussed earlier, using trading system with an edge assures that a trader stays profitable in the market in long run, even though the outcome of every single trade is not predictable. As a refresher, trading with an edge means that the trading system has a positive expectancy and is profitable.
However, having an efficient, profitable trading system is just the beginning. One needs proper training with a trading coach to develop the skill of executing such a great system. That is how top performers in many fields turn their talent, time, and knowledge into desirable valued skills- by practicing patiently under the best coaching system.
This is similar to developing the driving skills. A person needs to use a safe vehicle, followed by acquiring the skills of driving by many hours of practice under a good mentor, in order to develop the intuitive reflexes of safe driving.
As we emphasized earlier, a professional-minded person is skilled focused, and understands the importance of developing skills related to process and conditional knowledge, rather than just theoretical knowledge.
Based on our experience in various markets, such as stocks, futures, options, and forex, to master trading skills, most traders require to learn the proportions of:
While the content knowledge of trading can be acquired through self-studying, the ability to apply process and conditional knowledge to specific market situations requires a significant amount of mentorship time and a trading coach.
Unfortunately, most amateurs are knowledge-centered, and invest their time and talent excessively only on the content knowledge of trading, such as reading books, watching vides, and attending webinars.
On the other hand, professionals are skill-centered and understand that knowledge does not turn into skill automatically.
They know that to master trading processes, they must know the value of process and conditional situations in trading. Professionals patiently focus on developing their algorithmic trading process skills, which requires lots of practice and coaching under deliberate practice. Understanding these concepts will have significant impact on an aspiring trader’s attitude and planning toward proper training.
Learning algorithmic trading processes can be facilitated by using a well-designed smart drills under convenient modern Learning Management System, also known as LMS. This will be discussed in further detail in the blog post “Smart Drills Under a Learning Management System for Trading”!
Price Action Trading and Its Advantage In this video, we will focus our discussion on the topic of Price Action Trading and its advantage as
Advantages of High Probability Trading Setups with High Win Rate we will discuss the advantages of a profitable trading system based on a high-probability trading
Various Levels of Competencies in Trading As we discussed in this video the various levels of competencies in trading and the importance of adapting to
Human Psychology Conflicts – Illusion of Expertise We continue our discussion on the topic of Human Psychology Conflicts and address the issue of Illusion of
Human Psychology Conflicts https://www.youtube.com/watch?v=W6ftOnZedLc In this video, we will discuss the Human Psychology Conflicts, and the issue of Performance Pressure, which is related to the
Price Psychology Action https://www.youtube.com/watch?v=y9fh5NFj4jg Hello all traders! In this video, we discuss the third secret of professional traders’ success, which is resolving the human and
RISK DISCLOSURE: Futures, stock, forex, and options trading contains substantial risk and is not suitable for every investor. The information presented on this website and through TradingDrills Academy is for educational purposes only and is not intended to be a recommendation for any specific investment. By using TradingDrills Academy and its products and services, you agree to its Terms of Service and DISCLAIMERS AND LIMITATION OF LIABILITIES. Past performance is not indicative of future results. The risk of loss trading leveraged securities, futures, forex, and options can be substantial and involves risk. Individuals must consider all relevant risk factors including their own personal financial situation before trading. TradingDrills Academy, its teachers and affiliates, are in no way responsible for individual loss due to poor trading decisions, poorly executed trades, or any other actions which may lead to loss of funds. An investor could potentially lose all or more than the initial investment. TradingDrills Academy encourages all students to learn to trade in a virtual, simulated trading environment first, where no risk may be incurred. Students and individuals are solely responsible for any live trades placed in their own personal accounts. Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
© 2022 Trading Drills® Academy. All rights reserved.