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Intuition and Trading Price Action

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Intuition and Trading Price Action

Postby Pepen_supendi » Wed Dec 16, 2015 11:07 pm

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The Forex trading market is incredibly complex. While some traders prefer using robots and software programs in order to buy or sell their currency pairs, others prefer making trades based on their own analyses or intuition. However, nobody broke the bank sitting at their computer waiting for a software program to give them a signal to buy or sell. No trader can also claim to have made a fortune having studied charts again and again and waiting for the perfect indicators to line up. Successful traders were quick to realize that while these indicators and mechanical Forex trading systems can complement a person’s trading strategy, your whole trading strategy cannot be based on such indicators.

Given the fact that there are so many guides that highlight the rigidity of such systems, it is funny to think that so many people still try to completely automate their Forex trading systems. The best traders in the world only use their brains and understanding of the market in order to generate a profit. They use their understanding of price action in order to figure out which currency pairs are likely to excel, and which need to be sold immediately.

In essence, successful traders only use their own intuition and experience. If you want to become a successful trader in the Forex market, the first thing that you will need is a deep understanding of the market. The first thing is to build up a trading strategy. If you want to make a profit in the forex market, you will need an effective trading strategy. The Price Action strategy is one of the most common strategies used by traders today. While it is certainly not the only strategy that can be used, the key difference lies in the manner of your trading.

Now, you will also need a degree of discretion and awareness while making trades.

- See more at: https://www.hiwayfx.com/forex-articles/intuition-and-trading-price-action#sthash.meua3uZq.dpuf
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