Tape Reading 101 Course
Probably not! That's likely why you're here looking at this site. Don't feel bad though - the majority of traders are in the same spot in their trading careers. Seems like we're always just around the corner from the big breakthrough. And usually, just when we think we have it figured out, a new problem pops up to haunt us.So let's figure out why you're here.
Perhaps you are a complete newcomer to trading and you have been referred here by your broker - if so, great! You are a step ahead, because you are trying to learn how to trade before you blow out.
Your broker wants to see you succeed, so he points you in our direction because he knows over the long haul, education is your best chance of succeeding.Or maybe you've been trading for some time and have a fairly good understanding of technical analysis or fundamentals. You have purchased courses on indicators, programmed your own indicators, bought indicators, studied indicators, and yet somehow, you still can't find success. You are here because you are looking for that little edge that can turn you into a profitable trader, something mysterious called Price Action trading.Perhaps even more common - you might be here because you believe in your heart that the holy grail of trading exists and you are determined to find it. You spend hours every week trying to read and absorb everything you can find about trading, hoping against hope to find it somewhere, anywhere, a method that works every time. And now you've heard that there is something magical about Price Action trading, clean charts, no indicators, no clutter, works better than indicators.The Holy Grail Exists, But It's Not What You Think It Is!Please allow me to give a fair warning and thorough disclaimer before you go any further on this site - I absolutely believe the Holy Grail exists. In fact I know it does and I will prove it to you! However, it won't be found on any website or infomercial.
It's not going to come in the form of some magic indicator which turns green to buy or red to sell, no matter how expensive that indicator package is. It's definitely not a black box system or trading bot, it's not an expensive course, it's not a mentorship, it's not psychological counseling or hypnotherapy, and you won't find it in any trading room on the planet.In spite of this, you are a lot closer to the Holy Grail than you think. In fact, if your bathroom came with a mirror preinstalled, it's safe to say you look at the Holy Grail every day. Yes, you read correctly - YOU ARE THE HOLY GRAIL OF TRADING.Now why would I spoil it for you Holy Grail seekers by going and saying something foolish like that? Stop and think about it for a moment - what type of traders actually make money consistently? Value investors?
Swing traders? Fundamental traders? Technical traders? News traders? High-frequency traders? Bearish traders? Bullish traders?
Options Tape Reading
Price action traders? Indicator-based traders?
Institutional traders? Small independent traders?Yes, yes, yes, and.yes.
Many of these traders, often with diametrically opposed goals and styles, are taking money out of the market on a regular basis. How is it that ten different traders, each using different methods and time frames can all make money? Only because they have become the Holy Grail. In other words, they have a plan which suits their personalities and temperament, and because they implement their plan consistently, they are successful.Our hope, our goal, our mission statement, in fact our job, is to teach you how to become your own Holy Grail - to help you find the path to success. Not by selling you some magic bullet or special indicator, but by teaching you how to think and act like a professional Price Action trader. By showing you how to formulate a plan and follow through on it.
And by explaining how you can begin your trading day by spending a few minutes developing the scenarios that could occur through the day - then once the market opens, you are freed to become a reactionary trader implementing the strategy that fits the market conditions.I hope you enjoy the site - hopefully you will find it simple and direct. You will find that at times we are irreverent and disrespectful of what many so-called experts are teaching. You will see why we don't think highly of ex-floor traders who couldn't transition to the screen and became 'educators' instead. You will understand why we don't favor educators who sell indicators.
And you will learn why we mock educators who don't trade, yet charge you outrageous fees to sit in their trading rooms and listen to them call 'live trades'. If you're interested, to read my rant on all of these practices (This will open in a new window).Please take some time to browse through the site - bookmark it if necessary and come back until you have browsed through it. To our free newsletter so that you can take advantage of our upcoming webinars and workshops. While the site does not provide a full education free of charge, it will point the way to the tools that will help you learn to become a discretionary price action trader, the method that we feel offers the most realistic chances of working for most people.Wishing you success and prosperity as a trader,Joel Parker. Hypothetical performance results have many inherent limitations, some of which are described below.
No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading.
For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
In recent years there has been a lot of criticism over online education. Most of the resistance comes from educators and administrators of traditional brick-and-mortar schools. These closed-minded individuals believe the internet is a passing fad that will soon fall by the wayside.
Teaching Reading 101
They also believe education must come from a human being and must be presented in person. Every year the news reports indicate that traditional education is rapidly being replaced by online education yet certain blind educators refuse to admit it.In keeping with the times, many colleges and universities now offer online courses. Some degrees can be earned entirely online.
Of course, the tuition fees are insane but at least the classes can be taken online. On the modern end of the spectrum are the schools that are entirely online. These are the smart educational institutions that realize the importance of offering classes and degrees online.