Forex School - Good News & Bad News

If you’re looking for a forex school, then I’ve got some good news and I’ve got some bad news.

If you’re looking for a forex school, then I’ve got some good news and I’ve got some bad news.

First off, the good news.  There are a TON of forex schools on the internet.  Now, the bad news (you knew it was coming).  Most of them just aren’t particularly very good.

Hopefully after you read this article, you’ll figure out what you are looking for and decide on a forex school that is right for you.

The problem with many of these forex schools is that they rely heavily on mostly indicator driven forex trading systems.  These are the kind of systems that you can find on any forex forum.  There are thousands of free ones online.  If you’ve had luck with them, then I congratulate you.  The problem is most people have not.

If you don’t want to take my word for it, you can go check it out for yourself.  You can go to a forum like forex factory, and you’ll see countless threads of mechanical trading systems based off of indicators like Stochastics, MACD, RSI, etc…

You can see for yourself how few people have had success in the long term using these kind of strategies.  The results can be quite depressing.

I think I know the reason why so many people have failed with these kind of indicator driven systems.  It’s because they think that the market can be traded mechanically, and sadly that’s just not the case.

You’ve got traders who think that when a couple of stochastic lines cross one another, it automatically means that you can buy or sell. 

The markets cannot be traded so blindly.  They require some interpretation.  They require an understanding of price action.  That’s what you should be looking for in a forex trading system.

Some traders hate hearing that word “interpretation”.  They want everything to be in a tidy little package.  They want to not have to think about analyzing the market.  But this is what separates the successful from the non-successful in this business.

Don’t you think if the markets can be traded so mechanically, we’d hear about more people succeeding?  Since we have only 5% of the forex trading public making money, it goes to show you that you can’t automate the process with a bunch of indicators or a trading robot.

It proves you need individual interpretation, because once you see the markets from a subjective viewpoint, you are differentiating yourself from the rest of the crowd who are waiting for their stochastic lines to cross to buy or sell.

Learn Forex From Price Action Trading