Price Action Society offers daily trade ideas and recommendations based on take profit, stop loss and entry price.
They want their traders to know that priceactionsociety.com is using a proprietary indicator to filter out trades. In addition to this, they want traders to know that Price Action Society trades breakouts, trends and momentum.
Occasionally they can also trade reversals if there’s a good opportunity. However, they’re not addressing the issue of risk reward ratios very well.
They’re hinting that Price Action Society trades with a risk reward ratio of 1:1. This means that the signal vendor is basically risking the same amount of money to earn the same amount of money.
On the other hand, professional traders often seek to risk less in order to gain more. For example, it is not unusual for price action traders to risk $1 in order to gain $3 or more.
Therefore, we’re actually thinking that their risk reward is not good enough.
In addition to this, no disclosure of identity has been made on the official website. We’re basically dealing with an anonymous signal vendor.
According to this who.is page, the domain priceactionsociety.com was created in August 2019.
Since they don’t wish to disclose their identity, we’ll move on to the more important things such as trading methodology and performance as well.
Price Action Society Review
The website of this signal vendor has a professional look. However, we’re shocked to find that their signals are very cheap.
A month’s subscription costs $27 only and if traders want to subscribe annually, they will be required to pay $7 for 7 days and then $147 for the entire year.
They often say that cheap is expensive. So the first question we would like to ask is whether these signals are of quality.
If so, the vendor should also be able to demonstrate successful trading for us to believe that they’re experienced in price action trading.
The main issue is that none of the above trading vendors could produce proof of successful trading and yet they were selling their products for a much higher price.
The main selling point for this signal vendor is that they’re analyzing the Forex market on behalf of their clients so traders can find time to do their own things.
They’re also providing 3 to 7 trade ideas on a daily basis. They reveal on their website that trades are issued with pending orders so it is not necessary for traders to catch trades at the time they’re sent.
The trades in question are delivered through Telegram as soon as the client pays the subscription fee.
The vendor is also providing past examples of their trading signals in addition to results they’ve achieved from their signals.
There are a couple of those but the authenticity of this trading performance cannot be established.
Price Action Society review: Trading strategy
Price action is a valid method of trading the Forex market.
It has worked for many people but there needs to be a specific strategy within price action trading.
According to this signal vendor, they’re mostly trading breakouts, reversals, momentum and trends. This information is easy to find out by just looking at their example of past trades.
Their trade examples show that the vendor is mostly trading breakouts with take profit and stop loss being very near to entry price.
They’re also using a trading indicator which draws a band on the charts for reasons best known to them.
As a price action trader, you should focus on clarity and simplicity. Using an indicator is not necessary if you’re looking for a simple way to trade price action.
While the strategy is clear, the vendor didn’t get into the specifics of how they identity entries and exits.
We also feel that risk reward ratio that the vendor is using is not good enough. If you trade with a risk reward ratio of 1:1, it will only be a matter of time before you break even or start making losses.
This vendor is offering their supposed trading performance for traders to see.
They are not using a myfxbook account to demonstrate that these results are authentic.
We’re also seeing that this vendor posted their supposed trading performance for the month of August 2019.
This Price Action Society review was written towards the close of the year 2019 but this vendor has failed to update their results page accordingly.
Apart from the transparency that traders need, a myfxbook account makes the work of a vendor easier because the platform updates trade results automatically so that they don’t have to do that work for themselves.
Also, traders who avoid this statement sharing platform are often hiding something from traders looking to purchase their signals.
So this vendor must come out of the closet and explain to traders why he is not providing up to date results as well as why they’re not using a myfxbook account.
Price Action Society has never attracted any reviews or feedback from traders.
This is a sign that the site is very new and they haven’t attracted any customers yet. For that reason, we won’t comment on feedback until a time will come when traders are narrating their experience with this signal service.
In the meantime, we are asking you guys to leave your feedback if you’ve used this service before.
Even as we conclude this Price Action Society review, there are things that stand out. They include the following:
- Lack of properly audited trading results
- Obscure trading methodology
Since this is a new service, we don’t recommend using it at all. Also, if the factors mentioned above are considered, we can say that this service is not keen on demonstrating why they quality to sell signals.
Thanks for reading this Price Action Society review. The ball is in your courts now. Leave your comments below this review.
Thank you all.