When all of us were at the beginning stages of trying to learn Forex Currency Trading, we always seemed to put more and more indicators on our charts. I don’t exactly know the reason why that is, but I suppose its reassuring to a beginner to see many indicators. They somehow feel that they are extra “tuned-in” to what’s happening in the forex market.

The problem is that these people don’t really know what these indicators actually do?? Don’t feel bad if you are one of those people. I can honestly tell you that I don’t have a clue what the vast majority of them are actually useful for.

Think of it this way. Every time you put an indicator on a chart, its like adding another person in the room who is giving you their opinion on the market. Being that some people put 5 or 6 indicators on a chart, that would be like 5 or 6 people in the room with you, giving you 5 or 6 different opinions of the market. How in the world could anybody trade like that???

The only opinion that matters is yours. YOU have to be the indicator. You have to look at a the market and be able to predict where the price is headed. This can all be accomplished with price action. Price action is just the study patterns in price movement to predict where the future of the price is headed. However, the first step to learning price action is that you have to get rid of all your indicators. I know its scary, but you’ll be better off in the long run.