I can't help but smile when I see all the different kinds of forex trading techniques that you can find online. They always seem to be these indicator driven systems where you make a trade based on what five different indicators are telling you at the time. There is no rhyme or reason for any of them. You are only basing your trading decision on a bunch of mathematical formulas that are lagging in time.
Just like everybody else who gets into trading, I used these indicators religiously, and they just let me high and dry. It's pretty obvious why that is. As I said, they are lagging. So a signal goes off after the I missed the entire move, because it is telling me what has already happened.
I'm glad I changed courses. I learned all about the oldest trading technique and the one used by the most successful technical traders in any of the trading markets. The concept is real simple. Its all based on price action. This means no indicators.
When researching, I couldn't believe how many successful traders don't spend thousands of dollars on all that fancy software, and the bells and whistles. It was a great shock to me as I am so used to seeing the trading desks where traders are looking at 20 computer screens with the 10 charts on each screen. But none of that is necessary. Its just useless filler.
All those indicators you get from trading software powerhouses like e-signal and tradestation, could never in a million years replace the power of your own eyes. Every single chart you look at, the market is telling you something. When you grasp the concept price action, you'll be able to understand exactly what that is.
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