What It Takes 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 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.

My efforts proved futile and all I earned was a headache. I was so attentive to seeking the "right" indicators, that I knew little of the market itself. I turned trading into a money making game instead of seeking long term riches.

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.

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.

A simple bar chart, devoid of the unnecessary fillers can surprisingly give you all the clues that you need for trading. - 23212

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