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The most successful price action trader of all time Munehisa Honma

Todays article will d forexrebatesbrokerscuss t forexdiscountbrokers inventor of c forex discount brokerslestick trading, who I consider to be the father of forexbonusrebate action trading and technical analysisIn his time he cashback forex considered the father of quotesHe was the Japanese rice trader: Munehisa HonmaHe was born in 1724 and died in 1803While only half of the legend about him is true, he was by far the most amazing Although only half of the legend is true, he was by far the most amazing trader of rice, and we can learn a lot from the story surrounding him. He began by recording the price movements of the rice market on paper. He worked tirelessly every day to draw price patterns on paper, such as the opening price, the best price, the lowest price and the daily closing price. Soon after, Munehisa gave them special names, including some of the widely used Japanese candlestick models that you are already familiar with, such as the spindle line, the morning star, the twilight star, the hanging line, etc., each pattern expressing a special meaning. The models gave Honma an advantage over his contemporaries, and combined with his passion and skill, made him the most successful trader of all time. Some of you reading this article may still be on the fence about the validity and relevance of price action trading, but the fact is that it is not only owned by Honma, who was born centuries ago, but is still valid today. Whether or not Honma used the term price action during his lifetime is irrelevant, it is clear that he was analyzing the market in terms of price movements and was the first person to predict future price movements with price movements. He noted that this can make traders make decisions contrary to the market when everyone is short, because in this case the price will rise and vice versa. In other words, Honma was the first to track the psychology of other traders and use this to trade. I think Honma was the first person to use the pinbar pattern and he must have been shocked when he felt the power of these signals. The market has probably been going on since the time of Honma, and this has not changed over the centuries Honma probably realized this, because it has been tested that it is very true to learn price behavior and to use logic and common sense as an aid. Benma may be convinced that the seemingly most certain trading signals are precisely wrong once he starts to observe the emotions of market participants through price behavior, which is more than obvious to him The trend has become good friends with you, so stop fighting it Benma describes the positive (bullish market) and negative (bearish market), in each The only thing that surprised me was that Honma found a way to observe the price trend in the price model he drew This must have delighted him because he realized that trading with a trend is the most profitable way to make money in the rice market To this day, trading with a trend is still the easiest way to trade Traders are constantly trying to figure out the highs and lows, but trend Simply put, there are strong trend signals in the market, so dont go against these trends. If Honma were alive today, he would be very confused to see the clutter of indicators and trading systems and someone would do something so illogical? The mirror doesnt lie Honma wrote several books that are no longer published but the candlestick models he described in his books are known as Sakatas Laws These Sakatas Laws became the basis for modern candlestick charts so most of what Honma wrote is still valid today The truth is that he was the first person to trade price action and the most successful trader to trade price action What Honma discovered, and what we know as If you want to look in the mirror, its easy, go to the mirror and observe yourself. You dont wear a wig or a paper bag on your head. You dont need to use all those indicators and other useless things to find the most correct signal in the market. Sokyu Honma realized this more than 250 years ago, and to this day, many traders still trade with pure price action because there is no better way than this.
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