With the increasing percentage of forex traders ending up losing more money than they make, traders are noticing a common theme in their trading styles: Indicators. More traders are now learning to trade without indicators and use solely price action.
July 24, 2014
Bennettsville, United States – July 21st, 2014 /PressCable/ — Going onto any forex forum will provide a person with some insight as to how forex investors trade the market. Two things become very obvious: A lot of traders are losing money and a lot of traders use indicators. Due to this, there has been a rising interest in price action. This represents the antithesis of how most modern day forex investors trade the market. It is a bare-bones style of technical trading which eliminates the use of trading indicators, and a trader trades solely off the movement of the price of the respective currency.The appeal that many traders have towards this kind of trading style is that it represents the purest and oldest form of using technical analysis to trade the market. Buying and selling decisions comprise of patterns, natural support and resistance points, along with other clues that are hidden within price points.John Templeton was a person who used to trade with indicators until he made the switch to price action. He said:”I did what every other trader does when I first started trading forex. I slapped a bunch of indicators on my chart, devised a ‘system’, and then just hoped for the best. I had absolutely no control as to what I was doing. I was at the mercy of these indicators. That’s why I, and so many others fail. All that changed when I learned about price action. It’s like learning the actual language of the market. I can legitimately say that I am fluent in forex now.”Trading any market with the use of price action is not a new concept. Famous stock traders like Jesse Livermore were able to generate a fortune at the turn of the 20th century due to simply paying attention to the underlying price movements of individual stocks. With technology becoming as prevalent as it did, price action began to take a backseat to trading indicators.As losses have become more commonplace with the average forex trader, there is a greater urgency to get back to the basics.PriceActionTrade.com is a site dedicated to providing the average forex trader (whether new or seasoned) an opportunity to trade without indicators and rely solely on price action for their buying and selling decisions.
Name: John Templeton
Organization: Price Action Trade