When you are completely brand new to the forex market, things can be both intimidating and exciting at the same time. On one hand, you are really excited about this new venture that you are going to be a part of. You can't wait to get started. On the other hand, you are completely perplexed as to how to get started? There are 100 different ways you can trade the market, and right now you are probably experiencing a severe case of information overload.
First off, I want you to think that "less is more". What I mean by this is, if you are on a forex forum, and you see some guy talking about trading meanwhile he's showing a chart that has 6 or 7 indicators on it, click the "back" button as fast you can. This is not the way trading is supposed to be done.
Don't fall for the shortcut mentality that so many forex beginners fall for. For example, I know you must have heard about forex robots. These are just automated systems that will trade the market automatically for you. I know this sounds great, but you have to be realistic about this. The fact is that 99.9% of these robots do not make money. If trading was that easy, everybody would do it.
If you want to truly learn how to trade forex, then LEARN it. No shortcuts. Sit down, and pull up a chart. Do not put any indicators on it, and start noticing the patterns in the price of the market.
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.
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