What It Takes To Trade Without Indicators

By Peter Thomas

All novice forex traders need to learn an important lesson. The realization must dawn upon them , that all their charts and indicators actually restrain their trading instead of helping them. It takes a lot of time for traders to realizes that.

This may seem senseless, and, admittedly when I first began forex trading, I would have thought the same. But after spending much time trading, I realize the mistakes I was making.

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.

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.

It is amazing the information you can find by going low-tech and using a basic bar chart. It will get rid of all the unnecessary filler and lead you to better success while trading. - 23222

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