When it comes to forex trading, there are literally millions of ways you can learn to trade forex. Unfortunately, most people choose the wrong ways to trade. I wasn’t any different. It’s hard not to fall into the convenient traps that are out there.
If you are somewhat new to trading, I’m sure you probably know what I am talking about. I have nothing against forums. In fact, it’s a great way to get your feet wet. But unfortunately, there is a boatload of misinformation on most forex forums.
The most obvious thing you’ll find in these forums, is that you are going to see a lot of traders who want “beat the game”. They search high and low for special indicators or forex trading robots, that will magically put millions of dollars in their bank accounts. It would be wonderful if trading could be that simple.
But if it were, we’d all be rich, wouldn’t we? After all, everybody would be trading with these toys. There would be no need to analyze the market, because it’s already being taken care of for you.
Traders (especially new ones) need to get out of this kind of mindset. This is NOT LEARNING to trade. All you are doing is looking for the “holy grail”.
I hate to break the news to you, but that doesn’t exist. Trading is not some gimmick. It requires inti mite knowledge of what makes the market tick. If you can look at a simple bar or candlestick chart, and know what’s going on, you are far ahead of 95% of the traders that are out there.