New forex traders may think the indicators on their charting platforms are helping, but in actuality, their trading his being restrained. Most people arent aware of this fact.

This may seem senseless, and, admittedly when I first began forex trading, I would have thought the same. But after spending much time trading, I realize the mistakes I was making.

During the beginning I had tried every indicator to make profits. You name it, and I promise you that I tried it.

I quickly became frustrated because I was so focused on finding the “right” indicator that I didn’t learn anything about the market that I was trading. I kept just hoping to find some shortcut to get rich quick. Needless to say I realized that there are no shortcuts when it comes to forex trading.

I was as if bewitched by these so called magical indicators. It made my mind drift away from the reality. I was unaware of what was happening with the currency prices. Instead of focusing in on the important matters, I was paying attention to random and arbitrary formulas.

All new traders make this mistake. They should realize that a simple bar chart is all the need for technical trading. Price action is the basics of trading and as old.

Once the trader understands the movements of price, they will know how to predict where the price is headed in the future.

A simple bar chart, devoid of the unnecessary fillers can surprisingly give you all the clues that you need for trading.

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