Sunday, August 3, 2014

why does everyone forget the KISS rule?

yeah. that's what i mean.
why the heck does everyone forget the KISS rule.
Keep it simple and stupid.
guys....it's not rocket science.
do not cloud yourself with tons of indicators. "The more the merrier" does'nt work here. Try sticking to a maximum of 2-3 indicators and work on being a disciplined trader rather than trying to reinvent the wheel.
Any amount of indicators will "not predict the future of the market" coz if any of them did, we all would be millionaires, is'nt it?
Forex trading is all about probability. Try looking for high probability trades. Remember the basics...if a currency or commodity is in an uptrend on the longer timeframe, what does that mean? It simply means that it's rising more than it falls right? Step back. if you like trading the 1 hour chart, step back to the 4hr or daily chart. Be in sync with the larger timeframe.
Always, always and always, before you hit the "BUY" or "SELL" button, just step back to a larger timeframe to confirm your direction.
That's all for now folks. Happy trading :)