Todd Mitchell of Trading Concepts is truly dedicated to trading and educating fellow traders. This is immediately apparent if you have ever spoken with him or read one of his articles.
Todd has been trading full-time since he graduated from college in 1990 and since 1994 has been sharing his powerful and successful trading strategies with traders of all levels. Today Todd is going to cover price action and its importance in trading systems and how it relates to day trading. We would love for you to leave a comment here for him here, but you can also visit Todd at TradingConceptsInc.com.
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Modern day trading systems use multidisciplinary approaches to determine appropriate trading setups and to gain an overall understanding of the mood of a given days trading session. At the heart of many trading systems is price action analysis, which is interpreted in a variety of styles and approaches that best suit the particular traders methodology. Price action analysis has always been an important facet in understanding intraday trading and short-term trading trends. In some trading systems it is the primary component in determining trade selection, and in others it plays a secondary or filtering role in determining trade selection. To be sure, there are well-known trading systems that utilize only price action analysis and eschew oscillators, indicators and all the other modern day mathematically based trading tools. Continue reading "Price Action Analysis and Day Trading"
