Currency
Trading - Holy Grail
It seems that 95% of
retail Currency traders today have some misconceived notion that they
can group a pair of indicators together and make a million. I know with
100% certainty that all the traders who harbour the concept that a few
technical indicators alone will make
them rich are going to fail. Anybody who implies it's possible is not a
real trader.
Trading forums seem to
be the cause of this annihilate notion. All I see is a bunch of
inexperienced traders on a crusade looking for what people call 'the
holy grail system'. Sadly the crusade will end like the ones
1000 years ago, in failure because the holy grail does not exist.
A trader's greatest asset is his/her brain. Our ability to think is
what
separates us from all other living creatures on this earth . More
importantly it's what separates us from computers. Any computer can
blindly follow a trading system but only a human can use discretion.
Banks have invested hundreds of thousands into the research of
mechanical, computer based trading. Bank traders became
worried thinking that if they found a way to trade mechanically they
would all lose their jobs. After pouring millions into this bottomless
pit, the banks NEVER found a effective way to trade without the
discretion which a human provides. If pouring millions into
research by experts failed to come up with a 'profitable' mechanical
system, what makes you think that retail traders with $/£1,000
accounts will ever find a 'profitable mechanical system?
I really do hope you ponder that question, and then you too will
realize that there is no 'profitable' way to trade without the use of
discretion.
Instead of following an indicator blindly you can use it as a guide
only. But it's your brain, and only your brain, that dictates when to
enter and exit a trade. As long as you know what to look for, and are
able to put the pieces together, you will be profitable.
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