Sifting through all the of forex trading software in the market can be quite exhausting. Each one of them promises you unique indicators that will benefit your trading. To be honest all of these indicators are completely useless. As long as you can find a trading platform with real time data stream and a basic bar or candlestick chart that is more than enough for you to trade forex successfully. A free trading platform like Metatrader is more than sufficient.
All of these forex software companies promise you the latest state of the art technical indicators. The problem with all of these indicators is that they are just using mathematical formulas to let you know what the market has already done. While they may be interesting, they don't offer the true insight of the current market conditions. The strongest indicator is the market itself. Everything that you need to know is all in the movement of the price.
When you put indicators on a chart, all you are doing is covering up the information that you truly need. So all these forex software companies could promise you an indicator that does all the work for you. All you have to do is follow it. Buy or sell where it tells you to. And all you are doing is hindering yourself from truly understanding how to read a chart.
The truth is there is no indicator that is as intuitive as price action. Trading on price action has been around since the beginning of the markets. If you look at all the famous traders throughout time, they have only used price action as their sole indicator. Traders like Jesse Livermore (google him, you'll find tons of info) are the perfect example of how something as simple as following price movement can lead to trading success. All the toys that the software companies offer you can't replace that.
Take the time to learn and understand price action. In my squidoo lens Check out all my forex reviews are LearnForexDirectory.com |
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