With the newness of this site and my time limited, I reshare this post that first appeared on my own site.
It’s becoming more apparent to me just how important a good strategy is and with the simple tips given in the following article, I’m sure to learn the basics soon.
K.I.S.S. stands for Keep It Simple Stupid. This is important in Forex trading as it is to anything you do. Keeping it simple in your Forex trading actions means making them up of simple actions, from the way you think about the price movement to the way you make your trades.
Nial say’s that we tend to complicate things and the purity of simplicity is the most often over-looked and his article will help you to understand why traders tend to over-complicate Forex trading and the best way that you can work to use the power of simplicity to your advantage.
The Truth About Forex Trading
He starts by exploring how most traders think that by trying enough trading systems, they will hit upon that one that is their automatic ticket to profit and is what causes many traders to blow out their accounts time and time again and be filled with frustration and confusion. There is nothing systematic in the forex market; the market is not a static beast that can be tamed through a black box mechanical system. It is a volatile thing, driven off of human emotion; fear and confidence, and ego and panic.
Nial’s point is that by learning to read price action on a raw “naked” price chart, you learn the art and skill at the same time. And that learning the art and skill of price pattern recognition gives you a perspective and not a system. This market perspective is what you should be considere a trading “method”. A trading method provides you with a way to make sense of daily market movement, whether the market is trending or consolidating, where as a trading system is a strict set of rules that allow for no degree of human discretion.
Author Bio: Nial Fuller is considered a leading ‘Authority’ on Price Action Forex trading strategies. If you want to learn more about harnessing the power and simplicity of Price Action Trading Strategies please visit Nial Fuller’s Forex Trading Course & Traders Community Page Here. Nial’s Students get lifetime access to all of his advanced price action Forex Courses, video lessons, webinar tutorials, daily trade setups newsletter, live trade setups discussion forum, traders support line & free ongoing course updates. For more information visit the Forex Course page here.
- Keep it simple stupid forex trading system(forexlearntrading.net) With the newness of this site and my time limited, I reshare this post that first appeared on my own site. It’s becoming more apparent to me just how important a good strategy is and with the simple tips given in the following article, I’m sure to learn the basics soon.
- Why 95% of Forex traders lose money (forexlearntrading.net) Actually it’s even worse than that. In reality the group of traders who actually make a good living, six figures and up is even smaller. Probably under 2%.
There are only two things that separate those traders who take as much money as the want, anytime they want, from the market from everyone else. One, they have an exact system for trading that…
- A Forex and Gold Trading Business in South Africa (harounkola.com) If you’ve known me or read my online newsletters, you’d know how much I like empowering ideas. None can be more so than empowering people financially through trading foreign exchange.
- Forex Affiliate Program (harounkola.com) Little did I know all those months ago, when I first envisaged making money from forex that it would lead to this, developing a blogging network of people documenting their process of learning about the world financial markets and either actively trading, or being part of an affiliate program or, as I’ve been fortunate to come across, the…
- Forex Brokers in South Africa(harounkola.com) ACMGold is my choice of Forex Broker in South Africa. I’ve visited their offices in Sandton City, and the welcome I received was enough to make them the home of my forex trading capital. Though I haven’t investigated lots of forex…
- How to Trade FOREX(answers.com) How to Trade FOREX. An average of close to $4 trillion is exchanged every day in the foreign exchange currency market (FOREX). Participating in this market can be profitable and offers many benefits compared to traditional employment. There is no commuting time or cost, no putting up with grumpy customers, and there are no co-workers drinking the…