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by Peter Thomas

An important lesson for new traders seeking to find the right kind of Forex Trader Training is that while the indicators that you view on the charting platforms may seem like they are helping; the truth is they are a restraint to your trading.

You will find this quite illogical and hard to believe. I myself would have disbelieved it if someone were to tell me this during my initial period of forex trading.

When I began as Forex Trader, I utilized every single indicator possible. My goal was to make money in the Forex Market.

My efforts proved futile and all I earned was a headache. I was so attentive to seeking the “right” indicators, that I knew little of the market itself. I turned trading into a money making game instead of seeking long term riches.

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.

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