Trading basically refers to an action of buying and selling goods and services. As far as this Forex concerned, Price Action Trading here refers to the sale and purchase of various currency although the technique presented herein may be applied to options, commodities, cryptocurrencies as well as any other financial products.
The foreign exchange market is by far the largest market in the world with transactions in excess of USD 6 trillion per day. This dwarfs the global stock market which averages around USD 2 trillion per day. A market of this magnitude offers ample opportunities to traders who seek their fortunes by attempting to identify market movements prior to the event. Also due to its magnitude the probability of manipulating or influencing the market is very slim, which allows traders to move without fear or favour.
One unique characteristic of this international market is there is no central market place for foreign exchange. Rather currency trading is conducted electronically, which means all transactions occur via computer networks between traders around the world rather than one centralized exchange. This market is open 24 hours a day, 5 and a half days a week, and currencies are traded worldwide in the major financial centres of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney- across almost every time zone. This means when the trading day in the US ends, the forex market begins anew in Tokyo and Hong Kong. This makes the forex market extremely active at any time of the day, with price quotations fluctuating constantly although not consistently.
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For those that are new to trading, make sure to take PAG's Forex Beginners Course, where we give you a proper foundation to trade in the Forex Markets, along with the Forex terminology and basic price action trading skills that you needed.
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If you are more experienced or have gone through our Forex Beginners Course, then make sure to read and watch our various recommended articles and videos below. They will give you a unique perspective on trading beyond the typical copy and paste price action trading strategies that have been taught out there.
Partiban, the founder of live trading consultancy and UBIS Academy, has 10 years of experience trading on forex market and has coached over 2000 course participants in the past 4 years. As a successful trader who has consistently sustained himself with profits in the market, he also manages private client’s funds in Noaprime.
A marine biologist by academic qualifications, he has never had any other day-job and embarked in a journey of entrepreneurism right after graduating. Being a full-time trader, he has explored and mastered many trading techniques with the guidance of some of the world’s leading forex experts and finally settled with price action, which he believes, provides better financial stability, greater freedom and balanced lifestyle. His passions for coaching unfolded itself when he recouped himself from his ‘painful’ trading experience- his best teachers. He has been able to utilize his recuperation experience to help people to recover their floating losses since he is well-versed in hedging strategies.