The course now includes bonuses that exceed the cost of the course itself.
And I’ve dropped the price on the course, because I really want every trader to understand the dynamics of trading, using candlesticks.
What’s the big deal about Forex candlesticks? Straight up front: if you’re trading price action – and these days who doesn’t – then you’re going to have to understand the basics of what constitutes price action. And forex candlesticks form that very foundation.
Not only that, but if you understand them on that deeper level, their simplicity can greatly empower your own trading, just by reducing all the complexity that you may have been cluttering your charts with. As I say elsewhere:
“What if all the complexities of trading forex could be reduced to one or two simple rules?
My charts used to be so stuffed with indicators I felt like I was looking at the aquarium of some overenthusiastic seaweed collector! I’m glad I learnt the simplicity and power of Price Action!
Things have changed.
I’m no longer trying to get lagging indicators to tell me where price is headed or where it’s going to react; I already have a very good idea thanks to the principles of price action that have become second nature.”
There were two reasons initially driving my desire to get the knowledge I had gained about forex candlesticks out there.
Firstly, many traders just seemed to ignore them, and I had learnt from my own research that this approach meant they were really missing out. Secondly, those traders who were aware were often misinterpreting the candlesticks and paying the cost of those mistakes.
Understanding Price Action is absolutely CRITICAL to your success as a trader. No matter what style you trade – scalper, day trader, swing or long-term trader – no matter what time zone you’re in or timeframe you concentrate on, or which currencies you trade: if you trade without a thorough understanding of price action you will be flushing money down the drain.
You can use candlesticks in the same way you might use the contents and index sections of a book you’re thinking of buying: they give both a broad-level view of what is contained inside the book, and some very specific information, that may help you decide whether to buy the book or not.
A candlestick on the five-minute chart can tell you a lot about where traders looking at the lower timeframes are currently valuing the currency pair. Sure, it’s largely irrelevant to price action on higher time frames, but for anyone wanting to get in and out of a trade quickly, the information contained within any single candlestick on the five-minute chart can give you up-to-the-minute, and even up-to-the-second information on the current market sentiment.
And of course if you take a bunch of five-minute candles together, you get a broader picture of the current price action. You may also get an inkling of the action on higher time frames, through a process known as Candlestick Addition.The Candlestick is the summary of known price action data on the timeframe you are looking at!Click To Tweet