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 forex the right way.
It'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.
That may sound rather impossible to those that have been used to trading with indicators for a long time. But all it means is that you are using price analysis as your underlying reason to buy or sell.
Traders have been doing it for ages. Long before indicators were even created. So that should put your worries to rest.
In fact, I'm going out on a limb by saying that no trader needs indicators. We've been programmed to think otherwise, but it's the truth.
All indicators are, are shortcuts. And that's why so many forex traders are attracted to it (especially the newbies). Indicators should be treated like a novelty, and unfortunately the forex trading community has yet to grow tired of this novelty.
I don't mean to sound like a forex snob. But I do speak from experience. When I first started trading, I was just like all the other newbies, putting every indicator on my charts that I can put my hands on. It was so bad that I had so many indicators covering my charts, that I couldn't even see what the price was doing. I was only reacting to what the indicators were doing. The price was inconsequential.
That's when I knew that something was wrong with what I was doing. If this is what is happening to you, then you need to stop thinking about it.
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