When pursuing forex trader instruction, a new trader needs to learn the precautions. I know of many young traders who have had horrible experiences because they are young to the stock market. Never falling in love with the metrics is one lesson they have learnt. view publisher site for more info.
Let me share an experience with you from someone that I know. As he first entered forex trading a few years ago he was an indicator junkie. He has placed on his charts every possible measure of trade that he considers. He also used measures such as stochastics, MACD, RSI, moving averages etc. He also went on to every forex forum to request any proprietary indicator created by other traders like those with a green up arrow to buy, or a red down arrow to sell.
He eventually understood that he was meant to have spent much of his time thinking about the market and not the indicators. He knew everything about the metrics, and had no knowledge of the business.
Do not be so overloaded with trade metrics as this guy does. You have to prioritize stuff like understanding what the business is all about first and then learning a few stuff about metrics later. I hope that what I have shared with you will help you especially now that you’re new to the financial market. Just bear in mind that you begin to generate more income and less mistakes and losses in your business and how you deal with every aspect of it.
You need to know from the outset to get a proper forex education. Remember, it’s not as simple as using forex robots to master forex trading the true way. To truly master forex trading you need months or even years, in which fundamentals are very significant.
I ‘m thinking from my own experience on this. Until I first got interested in forex trading over a hundred years ago, I was an indicator junkie. I ought to have put on my charts every possible trade indicator I might find. I have used “stock” metrics such as stochastics, MACD, RSI, etc. But for every proprietary indicator that other traders had developed I always went on to every forex forum to scrounge around. All who put a green up arrow to buy or a red down arrow to sell, you know.
It finally dawned on me. I realized I had spent much of my time learning about metrics, rather than thinking about the market. I knew everything about metrics there was to know but I knew little about the market.