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What Are the Best Forex Indicators? None!

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What Are the Best Forex Indicators? None!

By Jim Buhs

Have you ever noticed all the forex trading platforms out there? Each one promises you the best forex indicators that you can't find anywhere else. Indicators that will tell you exactly when to buy or a sell a currency. Well if forex trading is so simple, why is it that 95% of forex traders fail to make money? After all, if we can just plug in indicators that do all the work for us, why should anybody fail to make money?

Its real simple. Almost every indicator that a forex trading platform offers is lagging. It uses mathematical fornulas based on past information to let you know what to trade. It really does not provide any future information. For it to work, the market would have to be doing the exact same thing over and over again. And if there is one thing anybody who has traded the forex market knows, is that just because something happened a couple of times, doesn't mean it will happen again. The markets are a living, breathing thing. That's one thing that all the best forex indicators could never account for.

If you really want to understand the forex market, then try doing just that. Using an indicator just blocks what you're supposed to be looking at. How can you see the market when there are bunch of lines and colors blocking your view of the price? If you can understand price action, you can understand the forex market (or any market for that matter). If you look at New York Stock Exchange, you'll notice that most traders don't particularly care about stochastics, divergence or anything else that many other traders do. All they are doing is following the price action. With that alone, they are able to trade the markets successfully.

A simple charting platform like Metatrader is all you will never need to learn to trade forex with price action [http://www.tradinginthebuff.com] To see more, make sure to go to LearnForexDirectory.com to see some forex reviews [http://www.learnforexdirectory.com]