I know what you mean and I struggled with this for a very long time, The indicators work on the video but not for you. I’ve even bought indicators that work for them but not for me.
Let me try and explain it this way, there are some very good restaurants where the food is amazing, however they do not do very well and sometimes they even have to close down.
Now take your local junk food outlet, the food is mediocre at best, however they are very successful and sometimes even have long queues outside them. Why is that?
Well it’s not the food, so it must be something else. It’s the management behind the business. You see you can sell mediocre food or even poor quality food and have a very successful business.
My point is this, you don’t have to have the best trading indicators to make money in Forex. You can have mediocre ones. The money is not made just with the indicators. It’s the management of the account that makes the money.
These indicators do work, but they are not telling you the whole picture, the indicator may work well in a trending market but not in a choppy one. It may work much better on a daily chart, some people may be using it on a 15m chart.
When it comes to trading even a simple strategy with one Moving Average can make you money. Just like successful a restaurant focusses on the management of it, so should you.
What makes the money in Forex is the Money management, trade management. Cutting your losses quickly, letting your winners run and even adding to them. Staff training…that’s you. Notice I have not said strategy, like the food in a restaurant it’s the least of your worries.
A lot of successful traders lose up to 50% of their trades, but still make a lot of money. How? It’s the running of the business they focus on, and so must you if you want to be successful.
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Day Trading Strategies:
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Support & Resistance
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My Favourite Setup
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