December 27, 2007
Don’t Try to Guess the Market, Use Indicators
I have seen many people make a lot of money when the market is trending. Then, when the market is consolidating or doing a retracement, they give it all back.
You need to find some indicators that tell you when to get in to a trade and when to get out. Once you have some signals, as to when to trade or not, then you will be less likely to jump in when there is not a good trade. If you trade with indicators rather than learning how a currency pair moves and trying to guess it’s next direction you will have more trading opportunities on many pairs.
The market tells us all when it is ready to give us money. We just need to learn to talk the foreign currency language. Standing on the sidelines is a position.
Topics: Indicators
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