How to Trade the Forex Market - Take Off the Training

I know that when you are first start to learn about how to trade the forex market, people tend to

really go "indicator crazy". This means they will put any kind of indicator on their charts. It

doesn't matter if they don't have a clue about how to use it or even understand what's the

purpose of it.

I suppose using these indicators provides some kind of reassurance to the trader. I can safely

say that when I first started to trade I was suffering from the indicator fever. I used to be the

kind of trader that would spend all day on forex forums trying to get my hands on new proprietary

indicators.

But something eventually dawned on me. While all these indicators looked really pretty on my

chart, I didn't have the first clue about how to actually trade the forex market. After all, I

was just blindly following these indicators as the sole reason to enter and exit a trade.

This is what I like to call the training phase of a trader. It's somewhat akin to when you first

learn how to ride a bike. Nobody knows how to ride a bike the first time they get on one, so they

put training wheels. In this metaphor, the training wheels are the indicators.

But just like when you are riding a bike that is on training wheels, it may seem like you are

really riding the bike. But in the back of your mind, you KNOW that you aren't really riding a

bike unless you are unassisted.

It's the same exact thing in trading.

You can't call yourself a trader unless you can say with great certainty, you understand what is

going in the market, and I hate to say it, but you can't really do that with indicators. The

reason is, because you are using the indicators to tell you what is going on in the market,

instead of you understanding it for yourself.

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