Where do I start? There is an overwhelming amount of information available on the Forex markets. So much so that the problem we face is information overload and complete paralysis! Having little clue on what path to focus our attentions on first is an immensely tough challenge.
In fact, I want to stress that, if you are looking to make a quick buck off trading and to change your lifestyle overnight, think again. This is one of the toughest markets to succeed in and you’ll need focus, a willingness to learn and a good dollop of patience to master it. Let’s face it, if it was really that easy to make money from the Forex markets, every man and his dog would be a millionaire by now!
This is not meant to put you off but having a realistic attitude will help you avoid getting frustrated and being put off before you’ve given it a proper shot.
Remember, all things are possible with the right knowledge, help and advice. I will help make that journey much easier through sharing what I’ve learnt with you.
The different personalities each individual trader holds is the key to why there are so many different techniques out there to make money in Forex. Some need indicators, some robots or, like me, just simple price action with support and resistant levels. This makes it very difficult to pick the correct route.
I decided to study how the big boys from large trading institutions did it. I focused my attentions on learning how to mark support and resistant levels and using simple price action setups to trade from these levels.
I have no indicators on my charts but just use pure price action to read the markets. It takes time to be able to read the charts consistently and is like learning a new language but eventually it becomes second nature.
If you are keen to learn a simple technique to trade the Forex and have the determination to get there no matter how hard it is, then you have come to the right place.
Below is a list of the basics you need to know about the Forex markets: