![]() Learning the art and skill of price pattern recognition will provide you with a perspective and not a system. #Keep it simple and stupid fullThe “art” part of the trading equation is what allows some traders to make a full time living in the markets while the masses who are struggling to find the next best indicator system continue to lose money by trying to fit a square peg into a round hole, so to speak. By learning to read price action on a raw, “naked” price chart, you are learning an art and a skill at the same time. How does one keep their Forex trading simple? Well, no pun intended…it’s actually pretty simple STOP looking for the next “perfect” Holy-Grail trading system and START looking at the price bars on your charts. #Keep it simple and stupid softwareMarkets are just too volatile and complex to ever be dominated by a piece of software code or a mechanical set of trading rules. ![]() Trading can only become simple once you forget about the idea of finding a perfect indicator-based trading system that will work in all market conditions. The fact is, that while almost all traders would say they want to make trading a simple process, they are going about it in the totally wrong manner. It is a volatile beast that is driven from human emotion, and human beings vary in their emotional reactivity to specific events, especially when their money is on the line. The truth is that nothing that is fully systematic will ever be a truly effective way to trade the forex market because the market is not a static entity that can be tamed through black box mechanical systems. Simply put, there is no ‘free lunch’ in trading, still, many traders think by finding that one great trading system or indicator they can sit back and watch the money roll on. ![]() This belief is exactly what causes many traders to blow out their accounts time and time again only to find themselves full of frustration and confusion. Many traders have had similar experiences to the one above they think that by trying enough trading systems and forex indicators, eventually they will hit upon that one that is their automatic ticket to consistently profiting in the markets. That last indicator-based method didn’t work as you expected it to, but this new one seems like it makes a lot more sense and all the testimonials you’ve read just can’t be wrong… You just know that this one will work because the returns that its creators have posted look absolutely brilliant, and you can’t wait to try it out. So you’re excited about the latest and greatest programmed indicator that has been getting a lot of attention in the trading forums you visit regularly. This article will help you understand why people tend to over-complicate Forex trading and how you can use the power of simplicity to your advantage. I’m sure you have probably tried using complicated and (or) expensive trading methods at some point and subsequently realized that they weren’t working how you had thought. Simplicity is the most often and easily overlooked ingredient to profiting long-term in any financial market. ‘Keeping it simple’ in regards to your Forex trading means keeping all aspects of your Forex trading simple, from the way you think about price movement to the way you execute your trades. ![]() This acronym is as applicable to the field of Forex trading as it is to any. ![]()
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