What is it that makes the best forex trading system? Is it the one that most people use? Probably not, otherwise why would there be so many people failing to make any money? Everyone knows the statistics. 95% of traders who try trading forex, fail.
So, if the best forex trading system isn't based on popularity what is it based on? Simplicity!
I know some of you are probably thinking that these systems, where you put a bunch of indicators on your charts and you just trade based on the readings of the indicators, sound fairly simple. After all, it is something that anybody can follow.
But when I talk about simple, I mean having a less is more kind of approach. If you are adding more indicators and more gadgets can you really say that you are making things simpler? Better yet, can you really say these indicators are helping you actually understand the market?
If you are paying hundreds of dollars a month on charting software from eSignal or TradeStation, you have to ask yourself is it worth it? Who knows? To some, it probably is.
I can only speak from experience but when I was finally able to trade the markets successfully, is when I got rid of all these excesses. The market suddenly became simpler and easier on the eyes. I was able to spot patterns that get repeated constantly in the price action, which helped me to forecast future movements. The moment you wave bye-bye to all the unnecessary filler that comes with trading, is the moment you have a true understanding of the market.
| Want to learn how to trade forex without indicators then check out my best recommendation Bird Watching in Lion Country |
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