Can You Be Rich Trading Forex Without Indicatorsby Jim BuhsIt 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?
If you want an answer to this question, all you need to do is take a step back in history and read about what the most successful traders used in the trading.
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.
What makes it so impressive is that it’s not like he was able to even follow a chart. All he did was pay attention to how market traders were moving the price. It was all in his head. Not even so much as a bar or candlestick chart.
If some doy can do this without using not just indicators, but without a chart, then there can’t possibly be an excuse for anybody else.
If you really sit down and think about it, there really isn’t any other way to understand market movement besides the being able to trade price action. For example can anybody actually explain what all these indicators that everybody else is using, do? They can be used for a system and somebody can be taught the rules, but nobody actually knows what any of it actually means, relative to the market.
If and when you have the courage to wipe away these indicators from your charts, then you’ll get an opportunity to understand why the market moves the way it does. You actually see it as energy that is constantly moving.
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 ability to trade forex with success. Check out what he used to start to trade forex without indicators.
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Originally posted 2008-07-29 16:12:30. Republished by Blog Post Promoter