A Forex Trading Guide On What You Should Know

  

It seems like everywhere you turn online, struggling forex traders are looking for answers on how they can achieve success.  Problem is they are looking in the wrong places.  Here is a forex trading guide on what you should know and what you don't need to know.

price actionFirst off, lets forget about the gimmicky software.  I'm talking about all these high priced indicators that pull trading signals out of thin air. They are usually in arrow form, where the down arrow  means you sell and up arrow  means you buy.

Let me save you a lot of money and aggravation by saying "THIS WILL NEVER MAKE YOU ANY MONEY IN FOREX"

Sorry, I didn't mean to shout, but I just want to make sure you heard me.

There are so many problems with these "signal" software deals.

Problem #1 is that there are a million of them out there in the market. How do you know you are not getting a rehashed version of the same software that everybody else is selling?

But the major problem is, do you really believe that a computer can just follow the price action and tell you exactly when to get in and out of a trade? I highly doubt it.

Don't get me wrong.  I could see why this would appeal to a lot of the traders out there who want a solid currency trading technique.  What's not to like?  All the work is being done for you. All you have to do is sit back and wait for the computer to give you instructions.  You could be watching TV while all of this happens.  Technically what's going on in the market is irrelevant since all you are doing is waiting for a signal.

It sounds great but its pretty obvious how unrealistic it all is. I mean, do you honestly think the rich and successful traders are just sitting around waiting for a signal from a computer?

If this is all that it took, to be successful, then why is it that so many people are failing?

Its obvious.  You want to be successful in forex, you better actually learn forex.  You'll never learn the forex market while some computer is doing all the work for you. That's just not the way this works.

You are going to have to get in there and get your hands dirty.  There is no easy way out.  But the sooner you can start to get rid of your indicators and learn how to trade price action, the better off you are going to be.

 

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