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There are
countless
traders looking for forex trading tips in this
market. They believe there is some kind
of special indicator or trading system
that somebody has concocted that will make them
the next millionaire.
It's as if they are on this
treasure quest trying to find that holy
grail that you hear so much about, online.
They'll wander from one trading site
to the next looking to see if there is
this mystical piece of software that will
give you 100% winners without really
having to do anything.
Well, I hate
to shatter your dream, but that doesn't
exist.
First off,
NOBODY is right 100% of the time. It has
never happened and will
never
happen. Come to think of it, some of the
greatest traders of all time had winning
percentages of about 50%. They were able
to be successful because their winners paid out
at a lot higher rate than their losers.
Hint: Risk to Reward is
crucial in
trading.
So, if you are
one of these people who feel that they are
going to find something that is 100% right 100%
of the time. Don't even bother trading,
cause its just not going to happen. Save
yourself the anguish and frustration.
That, or begin harnessing your
psychic abilities.
Also, as far
as the search for the golden software,
expert advisor, or indicator, I'd put that
dream away as well. For whatever the reason,
traders feel that there is something that can
be downloaded onto a chart that will have all
the answers.
They feel that
somewhere out there is this piece of software
that will tell you in big red letters
"BUY
HERE" or "SELL HERE" while
you are sipping your coffee.
There is no
software that can do that (at least no
accurately), and most likely there will never
be. All these gadgets are just a
stall.
The quality of
the trader isn't measured by the software
he/she uses.
All this time
searching for the infamous holy grail is time
that you can be using to actually
learn how the
market actually works.
Here's the
best forex trading tip I can give
somebody. Clear out your charts and just
use a bar chart.
I mean get rid
of every single toy you have.
Stochastics, MACD, RSI, Moving
Averages.......EVERYTHING GONE. So all
that you are left looking at are a bunch of
bars on your charts.
I know this
may be extremely unorthodox but if you give it
a chance, you might see what all the great
technical traders have seen:
The Power of Price
Action.
Once you trade
naked (no indicators) you never, ever go back.
Because once you see the market without any
interference, you see it how it was
meant to be
seen.
Check out Trading In The
Buff to Learn How To Trade
Forex Successfully Just Using Price
Action.
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