I don’t think it’s any secret that many forex traders are looking for a quality currency trading education. Well….look no further. First thing you have to do is completely clear out your charts. Lose every single indicator that you are used to using.
I know it may seem awkward the first time you look at your charts when there are no indicators. I understand that we live in an age where the trading community is just “indicator crazy”. It’s like we’ve all been programmed into thinking that we HAVE TO use indicators.
I suffered from this craze when I first started trading the forex market. If there was an indicator I could put on my charts, I WOULD DO THAT. But the sad truth is that I didn’t have any clue what most of them really did. But I guess it made comfortable in a weird way that they were on my charts.
Then the truth about trading hit me like a ton of bricks. I started having one losing trade after another, which made me question what I was doing. The day that I decided to have a clean slate and wipe out all my indicators was the best thing that I could have ever done.
I started focusing on price movement, and one thing became very clear to me: It was that price movement kept repeating certain patterns. It would be constantly happening in the market. The great thing was that once you spot these patterns, you can tell where they start, which essentially tells you where price is going to go.