Where do I start? There is an overwhelming amount of information
available on the Forex markets. So much so that the problem we face is
information overload and complete paralysis! Having little clue on what
path to focus our attentions on first is an immensely tough challenge.
In
fact, I want to stress that, if you are looking to make a quick buck
off trading and to change your lifestyle overnight, think again. This is
one of the toughest markets to succeed in and you'll need focus, a
willingness to learn and a good dollop of patience to master it. Let's
face it, if it were really that easy to make money from the Forex, every
man and his dog would be a millionaire by tomorrow!
This is not
meant to put you off but having a realistic attitude will help you
avoid getting frustrated and being put off before you've given it a
proper shot.
Remember, all things are possible with the right
knowledge, help and advice. And, I will help make your journey much
easier through sharing what I've learnt with you.
The different
personalities each individual trader holds is the key to why there are
so many different techniques out there to make money in Forex. Some need
indicators, some robots or, like me, just simple price action with support and resistant levels. This makes it very difficult to pick the correct route.
I
decided to study how the big boys from large trading institutions did
it. I focused my attentions on learning how to mark support and
resistant levels and using simple price action setups to trade from
these levels.
I have no indicators on my charts but just use pure
price action to read the markets. It takes time to be able to read the
charts consistently and is like learning a new language but eventually
it becomes second nature.
If you are keen to learn a simple
technique to trade the Forex and have the determination to get there no
matter how hard it is, then you have come to the right place.
Below is a list of the basics about the Forex markets:
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