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Power Chords for Guitar
Power chords are straightforward and real simple to play: There is one basic chord formation that you can use for ALL of the power chords on the guitar. This shape consists of the top three strings of the major barre chord shape. This is what it looks like:
Learn how to play and utilize power chords for guitar with this free video based guitar lesson.
The next lesson will show you the second set of power chords for guitar. Proceed to the next Power chords Lesson
As always, the X's on the three bottom strings mean these strings should not be played when strumming the chord.
To play this chord you would thus put your index finger (1) on the first fret of the E (thick) string, your ring finger (3) on the third fret of the A string and your pinkie on the 3rd fret of the D string.
If you don't have any experience with barre chords, this shape might seem difficult initially. People normally have problems stretching their 3rd and 4th fingers across an open fret, but your hand gets used to it pretty quickly...
Here's what it would look like on the Guitar. This is a picture of the F power chord shape, but remember that this same shape is used with ALL the power chords for guitar!
Is that all?
In short, YES! Power Chords are uncomplicated: There are no Minors, Majors, 7th's or sustained notes (like with open or barre chords), there's just the single simple power chord shape. And depending on where you play it on the neck, you play the power chord of the corresponding key.

Frets and Keys
The image on the left shows you what key you'll be playing when fretting the power chord shape on a specific fret.
Example: When playing the power chord so that you're index finger (1) is on the 3rd fret you're playing the G Power Chord.
When playing the power chord so that you're index finger (1) is on the 5th fret you're playing the A Power Chord.
When playing the power chord so that you're index finger (1) is on the 1st fret you're playing the F Power Chord.
You'll notice that the keys are exactly the same as with power chords, it's a good idea to try and memorize these keys of the fretboard. This makes life a lot easier when you're playing chords in quick succession.
Let's hear what it sounds like
This video will illustrate the beauty of power chords. I'm using an electric guitar with a distortion effect (this is when power chords sound the best), and am playing the following power chords in succession.
A5th - C5th - D5th
A5th - C5th - Eb5th - D5th
A5th - C5th - D5th
C5th - A5th
Note that my hands maintain the same shape and I'm simply moving my arm up and down the fretboard to play the different keys (I've said this a hundred times already, but it's worth repeating :-). Also, I'm only strumming the top three strings on the guitar...
See if you can play this power chord riff - pay special attention to the chord transitions (switching between the different chords. If you're using distortion remember that the smallest scrape or slide on the string is magnified by the effect so try to get a good 'clean' distorted sound that's free of muddy tones.
Recognize the tune? It's the famous riff from "Smoke on the Water" by Deep Purple