Here’s a forex trading tutorial for those that have tried their hand at forex trading but have not had any success. I know how frustrating it is. BELIEVE ME!! I can empathize with what you are going through. Sometimes if feels like a miracle if you are on the winning side of a trade. That’s exactly how I felt when I started trading. But I am going to share with you a forex trading tutorial that really helped me out.
Think less is more!!! – This is the exact opposite of how most new or struggling traders think. They feel that because they aren’t having any success, they naturally feel as if they are missing something. So they add more and more “stuff” to their trading. They add indicators, trading robots,expensive trading platforms, trading signals, etc…… My advice is to shut that down.
Let’s think about this logically. What is trading all about? It’s about buying high and selling low, right? Why complicate things when you don’t have to? Is there technical “gizmo” that can do that for you. The answer is a resounding no!!
You can see it with your own eyes. Start by just watching the markets. I know that sounds really simple and basic, but that’s what you need right now. Just pull up a 1 hr chart and get rid of all your indicators, and just watch!! Don’t think. Just watch the movements of the market. Don’t try to force anything. The harder you focus, the tougher its going to be.
You should naturally start to see that the market moves in patterns. It may not be obvious right away, but the more you watch it, the more you’ll notice them. After a while, you’ll be able to see the beginning of a price pattern, which will help you predict it’s future movement.