It seems like everybody goes crazy over these "hot" forex trading systems that are covered with indicators. It's hard not be one of the sheep and get caught up in it. But for people that are tired of these indicator systems, they have to be wondering if they can actually be rich if they traded forex with no indicators?
Well, to answer that question, all you have to do is look at the history of the most successful traders of all time.
You could start by reading about traders like Jesse Livermore. Livermore struck it rich in the stock market at the turn of the 20th century. He was a floor trader and the only thing he cared about was trading the price action of stocks.
Not to bad for somebody who didn't even use a simple chart to help him trade. The only thing that mattered to Livermore was what the other floor traders were doing doing to the price of the stocks, and made his trading decisions based on that.
If somebody like this can become rich trading without any kind of indicators, then there is no excuse for anyone else.
If you think about it, is there any other way for you to truly understand what the market is doing besides trading just the price action. Think of all the indicators most people plaster all over the charts. Can you really explain what 3 moving averages crossing each other actually means? The truth is nobody can. It's the same case for any of these popular indicators. They may know the rules of how to trade them, but they don't have a clue what it actually means.
When you are able to get rid of these indicators from your charts, then and only then will you be ale to follow the reasons why the market go up, down, or stay range bound. You truly get to see the market as a ball of energy, not just numbers.
When you're able to see the market this way, there is no way that you'll ever go back to using stochastics.
Well, to answer that question, all you have to do is look at the history of the most successful traders of all time.
You could start by reading about traders like Jesse Livermore. Livermore struck it rich in the stock market at the turn of the 20th century. He was a floor trader and the only thing he cared about was trading the price action of stocks.
Not to bad for somebody who didn't even use a simple chart to help him trade. The only thing that mattered to Livermore was what the other floor traders were doing doing to the price of the stocks, and made his trading decisions based on that.
If somebody like this can become rich trading without any kind of indicators, then there is no excuse for anyone else.
If you think about it, is there any other way for you to truly understand what the market is doing besides trading just the price action. Think of all the indicators most people plaster all over the charts. Can you really explain what 3 moving averages crossing each other actually means? The truth is nobody can. It's the same case for any of these popular indicators. They may know the rules of how to trade them, but they don't have a clue what it actually means.
When you are able to get rid of these indicators from your charts, then and only then will you be ale to follow the reasons why the market go up, down, or stay range bound. You truly get to see the market as a ball of energy, not just numbers.
When you're able to see the market this way, there is no way that you'll ever go back to using stochastics.
About the Author:
Jim Buhs finally discovered the secret to trade forex with success. Check out how he learned to start to trade forex without indicators.
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