It seems ironic that what is widely recognised as the best forex trading method is criminally underused. We call this method ‘price action’ and it’s as old as the stock exchange itself.
The technological world we now live in has hindered a lot of traders in that they’ve become lazy. It’s like the traders of today are only interested in whistles and bells. They want to trade on autopilot, without taking any effort to find out how they could turn their fortunes around and starting to be a successful trader on the forex market.
They don’t bother to try and figure out the market for themselves anymore. It seems as if they all want some kind of trading robot to represent them on forex. With all the trading systems available now in boxes or to download, the traditional technical analysis is dying out.
The statistics are staggering. The gap between is success and failure is immense. Only 5% are seeing a profit, which leaves a mighty 95% losing money. This clearly shows that you can’t trade on forex by proxy. If they can’t be bothered to actually work for their money then quite frankly they only have themselves to blame when they keep suffering losses on the forex market.
These so called short cuts mean nothing is being analyzed. A child could be a forex trader given a computer with trading software. The plain fact is that they are losing money as the bells and whistles are doing the work, NOT the trader.
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