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So many traders wander around aimlessly looking
for the best
education in forex. They never seem to
get what they are looking for.
There is a very good reason for
this.
So many people
do like taking the easy way out when it comes
to trading. They would much prefer an
automatic system that a toddler can
follow.
That's the case with
indicators. Indicators are
specifically target for people that have
no interest in what the markets are
doing. They would much rather look
at a bunch of random lines and colors that
are interpreting the market for
them.
Just about
every indicator's purpose is to take your eyes
off of the price (where you should be paying
attention to)and look at the
indicator.
That indicator
doesn't have some secret magical wand
that can predict the future. It's just a
formula that we're supposed to be using to help
us trade. But does it really help?
Well, being
that the forex market is filled with
people losing money, I don't see how that could
be the case. Especially considering that the
vast majority of traders out there are using at
least two indicators on their
charts.
Traders have
to learn to get back to the basics. That's what
a forex trading education is all about.
You have to use the same priniciples that
technical traders of all markets have been
using since the beginning and will continue to
use as long as there is a market to trade:
Price
Action.
It's honest
and it doesn't lie. Its based on using price
movements which get repeated in the market in a
constant basis and using them to predict where
the price is headed.
There are no
gimmicks with it. What you see is what
you get. Its as old as the market
itself.
Legendary
traders like Jesse Livermore would be on the
floor trading stocks at the turn of the
century, and would only be paying attention to
price action to let him know when to buy and
sell. Its pretty impressive considering,
not only he didn't have indicators. HE
DIDN'T EVEN HAVE A CHART!!
It's the same
exact concept today. Traders are
emotionally predictable when it comes to
certain markets. You can tell the emotion
of the market and how it handles certain moves
just by looking at its price. You get the
support and resistance areas. You get the
future movements. You basically get to see
the market through a big X-Ray Machine, and see
what really makes it tick.
Check out Trading In The
Buff to Learn How To Trade
Forex Successfully Just Using Price
Action.
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