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Forex Trading With No Indicators - It's The Real Holy Grail

Jul 23, 2008
When you see and hear about all these forex indicator driven systems that are out in the market, its obvious that trading with no indicators has become a lost method. It's a shame because if you look back in time to the most successful traders, you'll notice they have one thing in common: Almost all of them mastered the art of price action. Most of them traded without using any kind of indicator.

It's not as difficult as some would have you believe. As a matter of fact it's a lot easier than using many of the short cut indicators that are so strongly promoted.

It doesn't which indicator you are talking about, there biggest problem is that they are lagging.

Just for example purposes, lets talk about a popular indicator, stochastics.

With stochastics, all the experts will telly you that you should trade them when their two lines cross each other.

When you look back at the charts and back test a stochastics system, it looks unbelievable. It should, because it's just following the price of the respective currency pair. It looks like you could be rich just trading stochastics crosses, doesn't it?

Things like this is the number on killer of new traders accounts. People see this kind of stuff and they instantly think this is so easy. They should be really be thinking if this is so easy, then how come so many people fail miserably trading forex.

The thing is that what you're noticing on the back test is not what exactly happened during real time trading. In back testing its obvious that the stochastics crossed only once. However when done in real time, those stochastics might crossed and uncrossed each other a few times. If you traded all those crosses, you would have been whipsawed.

If you are new to trading and want to have a firm grasp of the forex market, then I strongly recommend you clean out your charts. Look at them with no indicators. The day you are able understand price action, is the day you can yourself a forex trader.
About the Author
Jim Buhs has had success as a forex trader after learning how to trade price action. Once he saw that all it took to have forex trading success was on a clean chart trading with no indicators , his profits took off.
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