Trading Without Indicators - The Steps You Need
All novice forex traders need to learn an important lesson. The realization must dawn upon them , that all their charts and indicators actually restrain their trading instead of helping them. It takes a lot of time for traders to realizes that.
You will find this quite illogical and hard to believe. I myself would have disbelieved it if someone were to tell me this during my initial period of forex trading.
When I began as Forex Trader, I utilized every single indicator possible. My goal was to make money in the Forex Market.
Everything I tried went wrong. I focused too much on using the indicators and learnt very little about forex market. I thought, using indicators was a short cut to become rich. That was a really big mistake.
I was as if bewitched by these so called magical indicators. It made my mind drift away from the reality. I was unaware of what was happening with the currency prices. Instead of focusing in on the important matters, I was paying attention to random and arbitrary formulas.
Many new traders make the same mistake when they start trading. They became dazzled by the technology and forget the basics. All the trading information they need can be found on a low-tech bar chart. A concept called Price Action, which has been around almost as long as the stock markets.
Once the trader understands the movements of price, they will know how to predict where the price is headed in the future.
It is amazing the information you can find by going low-tech and using a basic bar chart. It will get rid of all the unnecessary filler and lead you to better success while trading. - 23226
You will find this quite illogical and hard to believe. I myself would have disbelieved it if someone were to tell me this during my initial period of forex trading.
When I began as Forex Trader, I utilized every single indicator possible. My goal was to make money in the Forex Market.
Everything I tried went wrong. I focused too much on using the indicators and learnt very little about forex market. I thought, using indicators was a short cut to become rich. That was a really big mistake.
I was as if bewitched by these so called magical indicators. It made my mind drift away from the reality. I was unaware of what was happening with the currency prices. Instead of focusing in on the important matters, I was paying attention to random and arbitrary formulas.
Many new traders make the same mistake when they start trading. They became dazzled by the technology and forget the basics. All the trading information they need can be found on a low-tech bar chart. A concept called Price Action, which has been around almost as long as the stock markets.
Once the trader understands the movements of price, they will know how to predict where the price is headed in the future.
It is amazing the information you can find by going low-tech and using a basic bar chart. It will get rid of all the unnecessary filler and lead you to better success while trading. - 23226
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posted by X - Men @ 12:15 AM
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