Learning To Trade Without Indicators

By Peter Thomas

New forex traders may think the indicators on their charting platforms are helping, but in actuality, their trading his being restrained. Most people arent aware of this fact.

It may sound irrational and if some had mentioned this when I first began Forex Trading, I would have thought they were sabotaging my efforts.

When I began as Forex Trader, I utilized every single indicator possible. My goal was to make money in the Forex Market.

I quickly became frustrated because I was so focused on finding the "right" indicator that I didn't learn anything about the market that I was trading. I kept just hoping to find some shortcut to get rich quick. Needless to say I realized that there are no shortcuts when it comes to forex trading.

I treated the indicators as if the numbers where some type of fortuneteller and it did not occur to me to seek out the complete market picture. I never noticed what was happening in the currency markets.

Many new traders make the same mistake when they start trading. They became dazzled by the technology and forget the basics. All the trading information they need can be found on a low-tech bar chart. A concept called Price Action, which has been around almost as long as the stock markets.

Price Action is about the traders understanding of how price movements really work. These price movements then can be used to predict where the future of the price is headed.

It is amazing the information you can find by going low-tech and using a basic bar chart. It will get rid of all the unnecessary filler and lead you to better success while trading. - 23223

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