[text_block style=”style_1.png” align=”left”]I’m sure you’ve seen traders trade with a “naked” chart.
And you wonder to yourself:
“How do they do it?”
Well, the answer is price action trading.
And that’s what you’ll discover in today’s training so you can also trade with a naked price chart to better time your entries and exits — without relying on any indicators.
Let’s get started…
What is price action trading and how does it work?
The first thing that I want to say is that when you’re trading price action you need a framework.
What is the framework?
For example, you have a 3000 square feet land and you want to build a house for your family.
How would you go about it?
I’m pretty sure that you wouldn’t just randomly put random stuff on that piece of land, would you?
What you’ll do is that you will probably hire someone to plan it for you.
To have a blueprint in your hands that says…
“Hey, this is the house, this is where the house will be. This is where the toilet will be. This is where your garden will be. This is how many levels the house will likely have. This is where your bedroom will be.”
You want to have a blueprint in your hand to map out where the things should be at.
Only then, when you follow the blueprint would you have a house that actually makes sense.
Are you with me?
This is the same for price action trading.
You need to have a blueprint.
A frame of reference that you can compare against and then form an educated trading decision.
What is this framework or blueprint that I’m talking about?
This is something called the four stages of the market.
I first came across it by traders like Stan Weinstein, Richard Wyckoff, and earlier veteran traders.
This is a concept that I learned from them.
And if you have already heard of it or learned of it before…
I still encourage you to watch it because I’m going to tackle it from a different light that you might not have understood before.
As I’ve mentioned, there are four stages of the market:[/text_block]