Most courses in currency trading don't really teach you how to understand the market. They basically teach you some system where you are putting together a bunch of indicators and they tell you "if x and y happen, you buy or sell". There are thousands, if not millions of these type of systems/courses out there. Some are perfectly free, while others cost a couple thousand dollars.
The sad thing is that I bought my fair share of this garbage too, because it seemed much easier just doing what indicators were telling me to do, instead of using my own judgement. You can even say I was a prisoner of these indicators. I couldn't trade without them. I was only as good a trader as how well the indicators were reading the market that week.
I guess it wouldn't have bothered me as much if I was making money with them but I was definitely not.
I'm sure I don't have to tell you that when you are losing money trading, its very hard to be optimistic. But the thing that was bothering me the most was the fact that I wasn't losing. The indicators were the ones that were losing. I just went along for the ride.
It's the same exact thing with all the automated trading robots that are so popular right now. Instead of taking the time to learn what the market is trying to tell traders, they would prefer not to listen and just let a robot do the trading for them. If you have been making money using this method, I sincerely applaud you, because most people are not.
John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. He has come up with a new currency trading course on the subject, called Trading In The Buff. |
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