Because of the obvious fact that so many traders
struggle to make money trading forex, you would think that its almost impossible to be successful
trading forex. That doesn't have to be the case.
I'm sure most are aware of the fact that 95% of forex
traders will end up losing money. But what most don't think about is
how these traders, trade.
Most don't actually take the time to learn about the
forex trading strategy of price action.
Instead they kind of throw themselves at every single
trading gimmick that you see in the marketplace.
By that I mean, have you noticed all the bells and
whistles that people are buying these days?
The one that always made me chuckle were those
special indicators that tell you on a chart when you are supposed to buy and sell. If things
were this simple, how come there are only 5% of the forex trading public making
It would seem to me if all these gadgets worked,
people from all over the world would be making money hand over fist. After all, you just have
to follow whatever the magical indicator is telling you to do. What could go
I'll let you in on a little secret. There is
absolutely nothing that you can put on your chart that will ever give you any further insight into
the market. There is no indicator in the world that can tell you where the price is going to
i know this may go against what most people think,
but I had to learn the hard way that, this was the case. This is why so many people are in
the constant search for the "holy grail".
To begin with, almost every single indicator is
lagging. It's basic premise is to tell you what has already happened in the
The other problem is that it doesn't hold
you accountable. You are only as good as the indicators that
you use. If you make money on a trade, then its the indicators that get the credit. If you
lose money on a trade, then it's the indicators fault. You really have no say in any of
That's not what trading forex EAs (or any other market, for that matter) is about.
You know what the best indicators in the world
are? Your own eyes.
If you really sit down and look at what a simple
price chart is telling you, there is absolutely no reason why you can't predict the future movement
of the price.