Part 13: Professional Price Action Forex Trading Strategies

Nial Fuller’s Professional Forex Trading Strategies

Hey traders,

Now that you’ve made it through my Free Beginner’s Forex Trading Course, I want to give you guys a little insight into my core trading philosophy, why I trade the way I do, what I teach, and how I can help you become a better trader. I hope that you enjoyed taking this free course as much as I enjoyed making it, and you should now have a solid foundation on the basics of what the Forex market is and how it’s traded.

Knowing the basics of Forex is great, and every trader needs to know them, but if you are serious about making consistent money in the markets, you need to learn real-world trading strategies that will provide you with a high-probability trading edge. Here’s some more information about me and my price action trading strategies:

About Nial Fuller:

I’ve been trading the markets for over 10 years now, and I have learned every lesson you can imagine along the way. Perhaps the biggest lesson I’ve learned is that ‘simple is better’, and this is the main point I try to convey to my students and it’s why I don’t use a ton of indicators or messy trading systems. My primary mission after becoming a successful trader has been to help other traders “see the light” of simple price action trading. I am very passionate about trading Forex, and I know a lot of other people are too, but unfortunately there is so much misleading information about it, that it can be really difficult to get started on the right path. My goal as a trading mentor is to lay a simple path for all traders to follow, that path is paved with the price action strategies that I have found to be very effective over the years. Be sure to check out Part 6 of the course on price action analysis for a refresher on what price action trading is all about.

How I trade with price action

• My core trading philosophy

My personal trading style is completely focused on “reading” the price movement of the market in its “natural” form, or in other words: “Price Action Trading Analysis'”. I don’t use any indicators or confusing systems; I simply trade from a naked price chart.

I have an arsenal of powerful price action patterns that I look for within the structure of the market. For example, if a market is in an uptrend, I will be looking for price to retrace to a support level within the uptrend, this is what I consider a “value” area, and I will then watch patiently for one of my price action signals to confirm a trade entry. Whilst the majority of my trades are following the trend of the market, I will occasionally take a counter-trend trade setup or a range-bound market trade.

Regardless of what direction I am trading, the main thing I am looking for is “obvious” price patterns forming at “key” levels in the market. When I see one of my trade setups has formed at a key level in the market, I consider this a green-light confirmation signal for me to enter a trade. Given that there are only a ‘few’ good signals each week, I spend a lot of time just waiting patiently for a trading opportunity. I wrote a very popular article last year on the concept of being a patient trader waiting to ambush trading opportunities, you can read that article here: “Trading Like A Sniper “.

In summary, my trading approach is largely built on finding multiple pieces of “evidence” that work together to confirm an entry into the market. Professional traders call this “trading with confluence”. In regards to my price action trading strategies, trading with confluence means looking for multiple factors on the chart that support the case for entering on a price action signal that has formed.

Overall, my trading strategy might appear quite simple, and frankly it is, but as I said before; simple is better in Forex trading. I’ll be honest with you guys, must unprofitable or beginner traders are attracted to overly-complex trading methods and this is usually what leads to their eventual failure. As a trader who has “been around the block” a few times, I know what has worked for me in the markets, and I feel it’s my job to convey that information to other traders. Thus, my main priority as a trading mentor is to teach my students how to trade with a simple forex trading strategy.

Here’s one of my recent videos explaining how I use one of my favorite price action signals; the pin bar trading strategy, to trade in-line with the trend:

• My favorite markets and time frames

If there is one lesson that you should accept right now, that will save you A LOT of time and money, it’s that trading the daily charts is the easiest thing you can do to reach your goals as a trader. Now, to be a little bit more specific…if you start off your trading career trading small time frames like the 5 minute and 15 minute charts, you’re going to experience a lot of frustration, lost time, and lost money. You see, these small time frames contain more variables for you to analyze (and over-analyze), this means more “noise” or random price movement that isn’t really impactful or meaningful. When you move up in time frame you get a natural “filter” that works to smooth out the noise and confusion of the small time frames. The daily chart gives you the best view of the market and also provides the most effective filter against the noise of the small time frames. I also trade the 4 hour time frame quite often, and occasionally the 1 hour charts, but I NEVER look at any time frame under the 1 hour.

My favorite markets to trade are the EURUSD and AUDUSD, but each day I will typically scan through all the major Forex pairs looking for price action trading opportunities. I also trade gold and silver and occasionally look at crude oil, the Dow Jones cash market, as well as some of my local Australian stock indexes.

Why I trade the way I do

As I say often, I am very simple in how I think about and trade the markets, my years spent “in the trenches” of the markets have reinforced the necessity to eliminate unnecessary variables from my trading. Most traders over-analyze the market and confuse themselves as a result, this ends up in them trading emotionally and losing money. Thus, I have no desire to sit in front of my computer screen staring at the 5 minute chart like a strung-out zombie-trader. I prefer to trade the daily charts and trade in a relaxed and stress-free manner; if there’s a trade setup that meets my pre-defined criteria, I enter the trade, if not, I walk away until the next day usually.

I really want to stress the fact that taking a slow and calculated approach to your trading is far better than trying to be a day-trader or entering 20 trades a week. If there’s one thing you guys take away from this free course it should be this: you aren’t going to make money fast by trading time frames under the 1 hour and by rushing your trades. You will make money faster by being a patient trader and taking a daily-chart outlook. Forex trading success is measured in months and years, not in days or weeks. So, if you remember nothing else from my website, remember that slow and steady wins the race.

What you will learn from me as your trading mentor.

I like to think I am a bit of a “contrarian”, in my trading and probably in my everyday life to some degree too. I’ve often found that if you do what everyone else does you’ll get what everyone else gets, and when it comes to trading, this approach simply doesn’t work. The fact is that most traders struggle to make money in the markets, they get frustrated, emotional, lose money, lose time, and generally have no concrete trading strategy or forex trading plan. So, if you want to be like most other traders who are obsessed with indicators and “magic” robot trading software, you will probably lose money rather quickly, like most other traders.

I don’t sugar-coat anything, and my reputation has been built on that fact. So, what I will tell you is that if you choose to learn from me,  you will learn honest, long-term and sustainable price action trading methods. I will teach you how to read the natural price dynamics of a price chart and how to find high-probability entry points within it. You will develop a discretionary trading sense that will allow you to trade for yourself forever; this is a skill that you can carry with you to not only Forex but to any market.

You will never need a signal service or $5,000 trading course to teach you to trade, because I will teach you the only trading strategy you’ll ever need. I firmly believe in the old saying “teach a man to fish and you feed him for life”.  I don’t care what anyone else tells you, rigid mechanical systems will always fail over the long-run…you NEED to learn to READ and make sense of the price movement of the market, and you need to learn to ebb and flow with it. In essence, the market is dynamic and constantly changing, so you need a trading strategy that gives you the ability to trade in this type of environment. A market will change over time, and as a price action trader, you have the ability to change and adapt with it.

In closing:

I would like to extend my personal thanks to each and everyone one of you who made it all the way through this Forex introduction course. I hope that you now have a solid understanding of the Forex market and Forex trading. Whatever path you decide to take in your Forex trading career, I wish you all the best, and if you remember nothing else from my website, remember that ‘simple is better’ when it comes to trading.

If you would like to continue learning about the power and simplicity of Price Action, then you should consider my Professional Price Action Forex Trading Course and Trading Community here. My Students get lifetime access to all of my advanced price action Forex Courses, traders support line & free ongoing course updates. For more information visit the Forex Course page here.

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Jump Back To Start – Forex Trading Beginners University

Syllabus Of All Chapters

Part 1: Introduction – What Is Forex Trading ?

Part 2: Forex Trading Terminology

Part 3: Long or Short ? Order Types And Calculating Profits & Losses

Part 4: What is Professional Forex Trading?

Part 5: What is Fundamental Analysis?

Part 6: What is Price Action Trading Analysis?

Part 7: Introduction to Forex Charting

Part 8: What Is A Forex Trading Strategy?

Part 9: Common Forex trading mistakes and traps

Part 10: What is Technical Analysis

Part 11: How to Make a Forex Trading Plan

Part 12: The Psychology of Forex Trading

Part 13: Professional Price Action Forex Trading Strategies