Trade Forex Without Indicators - Can It Make You Rich

Posted on July 29, 2008
Filed Under Forex |

With everybody going nuts over all the latest fad forex trading systems that are loaded with indicators, it’s easy to get caught up in all the hoopla. But for anybody looking outside in, they must be wondering if its possible to be rich trading forex without using indicators?

Well, to answer that question, all you have to do is look at the history of the most successful traders of all time.

Look at famous traders like Jesse Livermore. Livermore became a multi millionaire trading the stock market at the turn of the century. He was just be at the market floor trading shares just based on price action.

This is somebody who did not even have a chart to follow. The only thing he did was pay attention to how the other floor traders were trading the stocks and how it was affecting the price. Pretty impressive considering he didn’t even have a simple bar chart to go off of.

If somebody like this can become rich trading without any kind of indicators, then there is no excuse for anyone else.

Can you actually think of another way for somebody to truly understand the market without using price action. If you look around at all these indicators, then you can’t help but notice that nobody knows what any of them actually mean. They can be taught the system and the rules, but can they tell what it has to do with the reason why the market will go up or down?

If and when you have the courage to wipe away these indicators from your charts, then you’ll get an opportunity to understand why the market moves the way it does. You actually see it as energy that is constantly moving.

When you finally have the luxury of seeing the market this way, you can never go back to using those indicators that everybody else does.

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