If you are a newbie, and you are looking for that one way to learn to trade forex, here it is: Get rid of your indicators. You are probably thinking, yeah, right what does trading without indicators going to accomplish? How could I possibly learn to trade forex this way? There is nothing to help me trade? That's exactly right!!
Think of it this way: If almost everybody you know and the 95% of the trading public that can't make consistent money trading forex, why would you want to do the same thing they are? Everywhere you look all you see are people selling all these do everything indicators that tell you when to buy, when to sell, when to move your stop losses, when to go to the bathroom, what to cook for dinner, etc.....If things were this easy why are so many people failing to make money. After all, the indicator is doing all the work for you, so what's the problem? The problem is you will never learn how to trade forex this way.
To truly learn to trade forex requires studying and understanding price action. That first begins with you getting rid of those indicators that you so dearly love. That means no stochastics, no MACD, no Moving Averages, no shortcuts. I know this may sound scary, but it really isn't. The first thing you'll notice is that all the information you ever needed is right there in black and white. Once you trade naked (no indicators), you never go back. That's it! That's the secret of learning to trade forex.
| Make sure to check out my squidoo lens to learn about trading without indicators. |
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