Trading Without Indicators - The Steps You Need

By Peter Thomas

An important lesson for new traders seeking to find the right kind of Forex Trader Training is that while the indicators that you view on the charting platforms may seem like they are helping; the truth is they are a restraint to your trading.

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 with forex, I honestly tried every indicator I could find, attempting to make some money in this particular market. Its a common mistake that most traders make.

Everything I tried went wrong. I focused too much on using the indicators and learnt very little about forex market. I thought, using indicators was a short cut to become rich. That was a really big mistake.

I acted like my indicators were some sort of magical oracles. I was so caught up in my indicators, I had no idea what was happening with the price of the currency, and thats the biggest mistake a trader can make.

Many new traders fall into this trap, when really everything they need to know is on a simple-to-use bar chart. Price action is a basic part of what real technical trading is all about. Its a real shame more people arent aware of this fact.

If the trader understands how the movements of price really work, he can predict the trend in future of the prices. This is because there patterns inherent in the market which can be use to open and close trades.

With all the unnecessary filler out of the way, the basic bar chart will lead you to find surprising results. - 23204

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