Forex Now

Trading Price Action Be Like the Pros
I can’t think of a trading strategy that is more underused than trading price action I say this with a great deal of confidence Frankly, all you have to do is look at the stats The numbers don’t lie As of right now 95% of all forex traders are not making any money . .This doesn’t mean that the 5% who are making money were born with super extra intelligence or they can tell the future Being one of the 5%, I can safely tell you that is not the case I, just like most traders, had more than my share of losses when I first started trading the forex market . .The real thing that separates the 5% who are having success from the 95% who are failing to make money, all has to come down to learning from your mistakes The 95% just seem to be making the same mistakes over and over again . .One of the many mistakes these traders make over and over again is this ever long search for the holy grail I’m sure you know what I am talking about They feel the need to purchase the thousand dollar trading platform with every imaginable bell and whistle thrown in While visually it may be real impressive, the results leave a lot to be desired . .Your goal as a trader should be not only to make money, but all try to make trading less complicated If you are the kind of person who is flooding their charts 6 or7 indicators, chances are, you are making things more complicated than they have to be . .When you trade with so many indicators, it would be like having 6 or 7 people just whispering in your ear telling you how to trade Who can concentrate like that? . .What’s so stunning is that most people never even think about just getting rid of all those useless indicators that are just taking up space on your charts, and learning how to trade price action It’’s the oldest form of trading, but to many, its like a hidden secret .
Source: www.rsstnx.com

Do Forex Expert Advisors Really Make Money
If you are a part of the forex community, I am absolutely certain that you have heard about forex expert advisors In fact, people are going crazy about these trading robots But the question still remains do they actually work, and more importantly does it make money? . .After all, just because you see hundreds of threads dedicated to this subject on forex forums doesn’t mean that people are having success with it Think about it How many of these threads do you see where traders have had any kind of success in the long term? I’m guessing, just like me, you haven’t noticed too many . .Why do you think that is? . .I think it has to do with the simple fact that markets cannot ever be programmable Also, how could you even trust a robot to blindly trade for you? That is not even taking into account that you have to trust your broker . .Forex brokers (well all investment brokers for that matter) are well known for their questionable practices, for example hunting for stop losses in their own trader’s accounts . .Can you possibly imagine the kind of unknown tactics a broker can use to purposely lose money from your own trading account, which using these forex brokers? . .Beyond that, let’s look at this rationally The forex market is just too incredibly complicated to have a forex robot trade the market on autopilot . .Think about all the news that comes out every single day Do you really expect the expert advisor to understand the nuances of how to trade the market when Fed just raised the interest rate by half of a point instead of the expected one point rate hike? I really don’t think so .
Source: www.rsstnx.com

Can Traders Actually Make Money Trading Forex
I know that there are a lot of struggling forex traders out there They must be thinking “do people actually make money trading forex?’ I know when your losing more pips than you are making, it’s pretty easy to feel that forex trading is some kind of mission that is impossible to accomplish But the truth is there are a lot of traders out there who have been successful and will continue to be successful . .The only thing separating the haves from the have nots comes down to the fact that the haves really took their time to learn about trading, while the have nots were only interested in a shortcut . .My guess is that you want to be able to understand technical analysis Well, for that to happen, you are going to have to be able understand the concept of price action Price action is beneficial if you want to learn how to trade with the trend, spot price patterns, find pivotal support and resistance areas, predicting future movement of the price, and just have a deeper comprehension of what is happening in the market . .If you are a trading historian, you should be familiar with Jesse Livermore He became a legendary floor trader at the beginning of the 20th century, just because he was able to the movement of the underlying stock’s price and be able to tell when there was the most opportune time to buy or sell . .The amazing thing is that nothing has really changed since then, all it requires from you is to think outside the box .
Source: www.rsstnx.com