I really feel bad for people that are looking for currency trading courses in this market, because they never get the information they need. I can sum up most of the information that you'll find online about currency trading.
You have to start with the ever famous automated forex trading robots (expert advisors). For those unfamiliar, they are basically these trading robots that do all the work for you. They trade the market while you sleep, eat, go out, and take care of the kids. I hate to break it to some people, bu trading is not this easy. The most famous and successful traders in the world would not let a robot trade for them. The market is too complex for something like that. It may be viable option in the future, but we are not there yet.
If you don't believe me, all you have to do is go into any forex forum, and look through the hundreds, if not thousands of threads that are dedicated to people working on forex robots. Take a look and see if how many are making money (not demo) with them. I think you'll be quite disappointed.
The other currency trading courses usually have something to do with using "special" indicators that form this system to trade forex. I know that people love indicators, but they have to realize that the only thing they are good at, is telling you what has already happened. They look great on a chart, but they are as random and arbitrary as flipping a coin.
Indicators, like stochastics may technically tell you that the market is oversold, but what does that have to do with the tea in China. Does that mean, because the market is oversold, its time to buy? Maybe, maybe not! Again, its completely random.
Its the same exact thing with moving average crossovers. People think that there is something magical that happens when moving averages cross each other. They think that other traders are waiting for this, and the price is going to go in a countertrend. Who knows, that may be the case. But I can tell you that it has nothing to do with those moving averages, it was just a coincidence.
Once traders can get off of this indicator mentality and pay attention to what the actual price movement is doing, then they will always struggle looking for the next great thing.
John Templeton has been a successful forex trader after learning how to trade price action. His currency trading course, Trading In The Buff shows that once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. |
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