Price action trading seems a very interesting concept on paper but it can be equally daunting when executed in real, especially without much prior knowledge. For an average trader, it is always recommended to learn price action trading before indulging themselves in this trading activity.
Renu, a stock market trader recently read about price action trading and as she continued reading, she read that this trading style involves only reading the previous price patterns of the securities and not the complex indicators that have always bothered her. This got her excited and she decided to try her hands at this.
However, with practical experience, she figured out she had to know a lot more before actually trying to make a profit out of it. This is the time when she decided to give her time in learning price action trading first.
Much like Renu, you can do the same if you are enthusiastic about price action trading. It is always better to learn to swim first and then dive into a pool of water instead of doing the opposite.
Before checking the best sources to learn price action trading, we briefly look at what price action trading is and what are the trading methods under this trading strategy.
How to Learn Price Action Trading?
Price action trading is a simple yet complex trading strategy that majorly involves the usage of previous price movements along with some technical indicators to predict an upward or downward pattern in the price of securities in the future.
The basic idea that is used in this trading style is to determine the market trend and to make small profits with every move of the market, irrespective of the direction.
As per this strategy, every trend comes with the opportunity for traders to earn money, whether it is uptrend, downtrend or sideways.
For this, it is important to study the smaller trends within one particular trend of the market along with chart patterns and candlesticks.
However, things aren’t as easy as they seem while reading an article and in practicality, you need to learn a lot of crucial things to master anything, even if it’s a trading style only.
Where to Learn Price Action Trading?
The next thing to figure out once you decide to learn stock market is the platform from which you can gain its understanding.
You can learn it through several mediums. Books are one option, the other option is taking paid online and offline courses that provide quality content in return.
While accessing online courses is a lot more convenient since you get all the relevant content on your smartphone app or desktop website, you have to reach out to different institutes present in a location of your choice where you can learn price action trading by being physically present there.
Trading Price Action Books
American professor Charles William Eliot once said “ Books are the quietest and most constant of friends; they are the most accessible and wisest of counsellors, and the most patient of teachers. “
Bringing it in the context of price action trading, the simplest way of learning this trading strategy is through reading some useful stock market strategy books. Now there is an ocean of books that teach price action trading but we are going to filter out some of the best books only.
Learn Price Action Offline
No doubt, books help a lot in understanding price action trading and its concepts but if you want to gain updated and advanced knowledge of the subject, then you can enrol yourself in the price action trading course.
There are various means of taking stock market courses. Some of these are for free while there are a few that charge some fees depending upon the duration and format of the course.
Further, these courses are available offline and online.
For offline, you need to register yourself in the institute and have to attend offline classes to gain knowledge and understanding.
Here lies the drawback of such a course, as you can take offline classroom courses only if it is accessible to you.
Learn Price Action Trading Online
To overcome the drawbacks of taking courses offline, there comes the online way where you can learn price action and other concepts of the stock market starting from learning stock market basics anywhere, anytime.
Further, The online courses not only provide you with textual knowledge like books do but they also have video and audio content to make sure you have fun while learning.
And again like books, you have a wide range of online courses available online that are going to help you learn price action trading but the one that is strongly recommended for the traders of every category, be it a beginner, intermediate or an expert trader is the Stock Pathshala price action trading course.
Stock Pathshala is an online learning app where stock market enthusiasts get a variety of free as well as paid content through different courses so that they can learn stock market-related things and use them in their trading to a better effect.
One of these courses available on the Stock Pathshala app is the price action trading course which deals with providing relevant knowledge in textual, audio and video formats to its users.
Under this course, a Stock Pathshala subscriber gets to learn through podcasts, written courses, and videos which also involve an animated version of teaching, reels and shorts that make the entire learning process fun which is also an important factor in educating.
Apart from these, the user also gets access to live classes conducted by experienced and knowledgeable educators through which they get to learn the dynamics of price action trading in a classroom atmosphere.
These live classes are also recorded so that a learner can access them at a convenient time in case they miss attending the live class.
And of course, learning a new concept is never easy and it comes with plenty of doubts, queries and problems and Stock Pathshala obviously understand this.
To make sure the users get a solution to all their doubts, it has:
- Live classes with the practical demonstration of the trade.
- Problem-solving classes where the learners can interact with the educators and ask them questions to get the answers to the questions they had.
- A chat-based community platform where all the users can interact among themselves, ask each other questions and solve their problems of each other when they can. This is a common discussion tool that they get under this course.
When you are in the process of learning a new concept, it is very important to keep testing yourself so that you can get to know what you have learnt correctly and where do you need to give extra attention. This is why various tests and examinations are conducted at different educational institutes.
With the Stock Pathshala self-assessment quizzes after every chapter, you get to test your learning and based on that you can analyze yourself and save yourself from thinking too much ahead.
Once you are done learning and you completely grasp the concept of price action trading strategy, you are given various certificates based on your learning. These certificates remind you of the hard work you have done throughout the journey of learning.
Stock Pathshala Price Action Trading Course Content
After knowing how a Stock Pathshala course works and its style of educating its users about a topic of their choice, it is also imperative what a user gets when he or she opts for a Stock Pathshala price action trading course. After all, content is the ultimate king.
The content in this course includes fundamental knowledge of price action trading, to begin with. The fundamental knowledge makes you aware of how things work in the market while to complement that, you get the technical knowledge too, to make you more skilled.
The content of the Stock Pathshala price action trading course includes
- Studying the candlestick patterns
- How to use support and resistance to maximize your profit
- Usage of trendlines
- Learning the best application of target and stop-loss orders
- Explanation of the technical indicators such as MACD and RSI with their practical demonstrations
- Other price action trading strategies with accurate examples
- How to utilize your positions, whether short or long to make sure you earn the maximum returns
And to add the cherry on the cake, the content under this course has been put in a structured manner so that the users, particularly someone new to the platform don’t find it difficult to access the content.
Learn Price Action Trading Free
While there are paid online and offline courses to learn price action trading, you can learn price action for free. Again there are different platforms, like Youtube. But again there are some drawbacks, like no access to updated content and zero practical experience.
To offer the chance to learn to trade for free, Stockpathshala too comes with free trading courses for its users.
Under this feature, you get access to a limited number of textual and visual content without having to pay for them. You can get full access to the app by subscribing to the pro version of the app.
After that you can choose to buy a paid course of different time frames depending on how much you want to learn and how much time can you afford to invest.
How Long Does it Take to Learn Price Action Trading?
Learning a completely new trading style takes some time of course and it depends on individuals and their preferences. The Stock Pathshala Price Action Trading course has different timelines suitable for learners with different interests.
It offers three different courses for beginners, intermediate and advanced traders which is further sub-divided into three-time frames of 1 month, 6 month and 12 months.
Each course covers the topic as per the trader’s experience. You can switch between these courses depending on your understanding.
However, even after learning the course through various mediums as suggested in this article, making profits using this trading strategy depends on the practical smartness and understanding of an individual while trading in the stock market.
Price action trading is a highly efficient trading strategy that allows the traders to predict the price pattern of the securities without having to study and apply very complicated technical tools.
Yes, there are a few technical charts and indicators that are used in this trading strategy as well but their weightage is considerably lower.
Nevertheless, it is never easy to learn a completely new trading strategy as easy as it may sound.
People, especially rookie traders often make the mistake of thinking that they only have to study the previous price pattern of the securities involved and they can master price action trading.
And even though it is true to a major extent, learning how to read the pattern accurately also takes some time a lot of effort. On top of that, the traders also have to learn a few important technical tools no matter how much or how little weightage they are given.
These technical tools combined with the previous price pattern make for an efficient price action trading strategy. And to master this efficient trading strategy, you need to learn it which can happen in the best possible ways through the mediums we suggested in this article.
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