John Templeton has been a successful Forex trader after learning how to trade price action. Once he understood that all he needed to trade Forex was on a plain chart with no indicators, his profits soared. You too could learn to day trade.
I know that the concept of learning to day trade probably intimidates a lot of people. Obviously they don't want to make the same mistakes that other people make, but they love the idea of making money from home, and telling their boss to shove it. But they feel that it takes an expert to be able to day trade successfully. Somehow only the "experts" can grasp the intricacies day trading.
Truthfully that's not the case. Anybody can learn to day trade successfully. And when I say anybody, I mean anybody. it doesn't take a genius. Believe it or not, there are successful day traders who have never even graduated from high school. So don't think for one second you have to be a Yale graduate to be able to figure this out.
If you want to learn to day trade, you better start learning about technical analysis. There is no getting around this. It's a requirement for trading. When I use the phrase "technical analysis", I am not talking about slapping a bunch of indicators on your charts and seeing what sticks. The markets aren't meant to be traded so mechanically.
If you use a bunch of lagging indicators, then can you really call what you are doing, analyzing? I don't think so! YOU have to be responsible for buying and selling, not your indicators. It's not something that can be outsourced. You are going to have get your hands dirty. All you need to do is pull up your "garden variety" bar chart and just watch what the market is trying to tell you.
- Related Videos
- Related Articles
- Ask / Related Q&A
- Learn Forex Day Trading Breakout System
- Learn Forex Day Trading Online - for Regular Big Profits!
- Learn to Day Trade the Smart Way
- Learning to Day Trade and Avoid the Mistakes That Others Make
- The Best Way to Learn to Day Trade Forex
- Why You Might Want To Learn About Day Trading On The Forex Market
- Learning to Day Trade Penny Stocks is a Valuable Skill
- Learn Stock Day Trading 2009 > Learn How to Trade .. Learning the Stock Market
Forex Charts - a 3 Step Simple Method to Forex Charting Success
By: Drota Kalis | 07/12/2009On any Forex chart, you’ll see repetitive patterns that you could have traded for profit. This article is about spotting these repetitive patterns – and using technical analysis to create big consistent gains from them.
Improve forex strategies with consecutive losses
By: EA Creator | 07/12/2009Many forex strategies can be improved by using decrease factor in money management. It is very easy to add it to any expert advisor while building EA online.
Forex Trading - Learn With Demo Accounts and Free Sign Up Bonuses
By: Dionne Roberts | 07/12/2009Forex is the short form for foreign exchange a platform market which allows banks, financial institutions, governments, brokers, agents and even the common man to buy and sell currencies. You have this global provider that presents online services to customers all over the world.
Watch how he trades the "hard right edge" (password)
By: Rob Trader | 07/12/2009I wanted to pass along a special “sneak peek” website 35+ trader Bill Poulos just opened up this morning. It’s the “members website preview” of his upcoming Forex Income Engine 2.0 step-by-step training course.
Forex Robots - How About Giving a Forex Robot as a Christmas Gift?
By: Dionne Roberts | 07/12/2009We all know that in dealing in the Forex trading market we need certain tools to assist us in making a fortune to stay alive and kicking, and for this reason we have Forex robots which are specially designed programs to guide an individual in achieving their pot of gold at the end of the rainbow.
Your Forex Income Engine 2.0 username + password
By: Rob Trader | 07/12/2009Your Forex Income Engine 2.0 username + password.I wanted to pass along a special “sneak peek” website 35+ trader Bill Poulos just opened up this morning. It’s the “members website preview” of his upcoming Forex Income Engine 2.0 step-by-step training course.
Best Forex Robot - Don't Fall For a Scam, Learn to Select the Best Forex Robot
By: Sutikno Slamet | 06/12/2009So there you have it. Armed with this information, you should feel much more comfortable with purchasing a Forex trading robot. For more information you can check out some reviews of the top products which are held to the same litmus test. Cut through the hype and find out which passed with flying colors.
What is Trading Naked All About?
By: John Temp | 14/07/2009 | Currency TradingIt's possible that you may have heard of the phrase "trading naked". If you are like most people, you can't help but wonder how is that going to help your trading. Well....get your mind out of the gutter. It has nothing to do with trading without clothes. It's all about trading without indicators.
Forex Scalping - What to Expect Without Indicators
By: John Temp | 14/07/2009 | Currency TradingIt's no secret that many traders prefer forex scalping over trading longer term. Some folks just like to be in and out of the market two or three times in a day, instead of buying and holding a trade for weeks on end. There is nothing wrong with using a forex scalping strategy, however many traders don't realize how much riskier it is compared to long term trading.
Are Traders Actually Making Money Trading Forex?
By: John Temp | 14/07/2009 | Currency TradingI know that there are a lot of forex traders who are losing money. I'm sure it's only natural for them to think "Are traders actually making money trading forex?" I can see why they would feel like this. After all, when you are taking one loss after another, how could you not? The truth is there are people making money, however 95% of forex traders are losing money.
The Best Currency Trading Strategy
By: John Temp | 14/07/2009 | Currency TradingIn my opinion, the best currency trading strategy is, sadly, a strategy that is extremely underused. Ironically it's also one of the oldest trading methods around. I'm talking about trading with price action. It's as old as the stock market itself. If you don't believe me, just research traders like Jesse Livermore. He was a floor trader during the beginning of the 20th century. He became a millionaire trader (much more difficult at that time) just by following the price movement of the und
How to Make Money Forex Trading by Taking a Different Approach
By: John Temp | 11/07/2009 | Currency TradingNo matter where you turn, there is somebody out there looking for a way to make money Forex trading. Unfortunately, not too many find success, if you go by the statistics. In fact over 95% of people who try Forex trading end up losing money. That's a pretty big gap between success and failure. What's the difference between the haves and have-nots?
Trading Support and Resistance - Why It's So Important
By: John Temp | 03/07/2009 | InvestingThe idea of trading support and resistance is really interesting. Many traders want to learn more about it, while other traders think that they are trading it, but the sad truth is they are not doing it correctly.
I've Got a Forex Secret to Tell You
By: John Temp | 29/06/2009 | Currency TradingI know that there are a lot of Forex traders who are struggling to make those pips, so I've got some wonderful news to tell you. I'm going to show you a Forex secret that most people aren't aware of. Hold onto your hats, because this is going to blow you away. You ready? Because here it is: