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.

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.

During the beginning I had tried every indicator to make profits. You name it, and I promise you that I tried it.

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 make the same mistake when they start trading. They became dazzled by the technology and forget the basics. All the trading information they need can be found on a low-tech bar chart. A concept called Price Action, which has been around almost as long as the stock markets.

Once the trader understands the movements of price, they will know how to predict where the price is headed in the future.

A simple bar chart, devoid of the unnecessary fillers can surprisingly give you all the clues that you need for trading. - 23221

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