The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Hi all!
I've heard several times that one must have a strategy with precise rules and that we must respect them thoroughly (example of rules: EMA cross, MacD cross, etc.).
What could be the rules (and/or the strategy) when you use only price action to trade?
Thanks a lot!
This course is significantly different from the conventional teachings. I'm pretty sure you'll be able to formulate the set of rules you're talking about by the time you finish this course. Unlike the commonplace knowledge, that does not work that well, what you'll learn here would be based on concrete logic and mathematical basis. Just give it some time, I can promise you it will be worth your time. You need to put in the hardwork, everything that you'll ever need to be a successful trader is present in the course.
Since you're new and curious, I'll add some of the rules you wanna know about as I typed a lengthy paragraph without answering your question first 🙂
- Don't trade against the direction of a tight channel
- You always buy low, sell high and scalp out when the market is in a trading range
- Breakouts are the only times when you'll have a reasonably high probability trade.
- Beginners should look to take 1-3 SWING trades in intraday at first with proper stop loss and risk management in place
- 80% reversal attempts in a trend fail
- 80% breakout attempts fail in a trading range
There are a lot more and you'll figure out as you progress. I covered the basic ones here.
Thanks a lot Abir!
I believe in what you say, and I love the course so far. I feel I've found my place in price action and I'm sure this course will be a game changer for me.
