Do you want to read the price action of the markets like a professional trader?

Then download a FREE copy of The Ultimate Guide to Price Action Trading.

You’ll learn how to better time your entries, “predict” marketing turning points, identify explosive breakout trades about to happen, and much more…

Click the link below and grab your copy, it’s free!

https://www.tradingwithrayner.com/ultimate-guide-price-action-trading/

Advice to traders:

Manage your risk.

You must have an edge.

Don't hop from system to system.

You’re not going to get rich quick.

Consistent action = consistent results

[How to use trading indicators like a pro]

A mistake almost all new traders make is to add many indicators onto their charts, regardless of whether the indicators have a purpose, or not.

But as you know, having more indicators doesn’t mean a thing. Instead, they only add “noise” to your trading and make things more confusing.

So, the rule is this:

Every trading indicator on your chart must have a purpose.

For example…

If you want to identify the trend, then you can consider the Moving Average.

If you want to time your entry, you can consider Stochastic or RSI.

If you want to trail your stop loss, you can consider Chandelier Exit or Moving Average.

So, if there’s an indicator on your chart and you can’t find a purpose for it, exterminate it.

Range vs Trending Market

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No edge.

No discipline.

No accountability.

No risk management.

No surprise why most traders fail.

Wycoff Theory For Beginners (The Definitive Guide)

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[How to use trading indicators like a pro]

You don’t want to have multiple indicators from the same category because they are correlated and doesn’t provide any new information.

That’s like trying to get your wife pregnant in one month by “firing” incessantly. It doesn’t work.

And it’s the same for trading.

So, the rule of thumb is this:

Have only one indicator for each purpose.

I’ll explain…

If you want to trail your stop loss, you can use either the Moving Average or Chandelier Exit — but not both.

Or if you want to time your entry, you can use either the RSI indicator or Stochastic, but not two together because they have the same purpose.

Does it make sense?

Anyone can make money from trading.

But few are consistently profitable in the long run.

Why?

Because only a few have... Edge + Risk Management + Discipline

[How to turn $5,000 into $1,311,816 without relying on a get-rich-quick scheme]

If you make an average of 10% a year with a $5,000 account, after 20 years it will be worth…

…$33,637.

That’s probably not enough for you.

So let’s work on it…

Since you’re trading part-time, you have a job and can regularly add funds to your trading account.

Let’s contribute $5,000 to your trading account each year (which is less than $420 a month).

Again, the same rules apply.

You make an average of 10% a year with an initial sum of $5,000 and you add $5000 to your account each year.

After 20 years, it’ll be worth… $348,650.

Now, this looks much better.

But what if you can do 20% a year?

Again, the same rules apply.

You make an average of 20% a year with an initial sum of $5,000 and you contribute $5,000 to your account each year.

After 20 years, it will be worth… $1,311,816.

Now let me ask you…

Will $1.3m give you financial freedom?

Will $1.3m allow you to retire and have the freedom to do the things you love?

Will $1.3m give you peace of mind knowing you can better provide the needs of your family?

In other words…

If you have an initial capital of $5,000 and can add $5,000 to your account each year, then you have what it takes to build serious wealth.

But here’s the real kicker…

There is no limit to how much money you can make.

Instead of 20%, what if you make 25% each year?

Instead of 20 years, what if you compound your returns for 25, 30, or even 40 years?

Instead of $5,000, what if you add $10,000, $15,000 or even $20,000 to your account each year?

Now the question is…

…How much money do you want to make?

How To Trade Price Action (1 hour Timeframe)

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Range vs Trending Market

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You can give excuses or become a profitable trader. But you can't do both.

[The longer it ranges the harder it trends]

If you notice the price has been ranging for a long time, you’re not alone.

Traders all around the world will be seeing the same charts as you.

Some will be queuing to short the resistance, and some will be trading the breakout.

If the price does trade above the resistance, shorts will get squeezed, and breakout traders will hop on the bandwagon.

That’s why price trend for a sustained period of time, due to the imbalance of buying/selling pressure.