With many young forex millionaires in UK, USA and South Africa claiming to create their wealth from simply Forex trading with no other secondary income business. The Forex market is taking the world by storm as many traders people around the world have decided to move against all odds by investing in the Forex makets.
Investing in the Forex markets
Many people out there have been recognised as professional traders who teach thousands of people to trade forex, despite many arent making it through the forex market. This had made the basic forex education to be not useful at all as the most used forex indicators are being manipulated daily by the big players of the market.
The big players usaully turn the market into their play ground to easily catch easy profits by making retail traders believe that the market is taking a certain direction while it isn't, this trick they play have made most forex indicators useless and has made many more trained traders to lose thousands and others millions.
I have heard very sad stories from traders who had not made it through the forex market as most have lost from around $2000+ (R30,000)in the Forex market. Looking at South Africa, many forex institutions have risen promising to teach people the best forex education to help them master the art of forex trading. These institution have spreading more especially in USA, UK, Japan and other foreign nations which are so much involved in forex trading.
If people can stop jumping for institutions they hardly know and get the best quality trading education, I believe that they will do better as forex traders and make money from the forex markets. I have found that most of the successful traders don't use indicators that they you may have been taught about in you forex seminars and courses you may have attended, which simply means learning about indicators is simply a waste of time and will not take the trader anywhere but would drain more money from the trader.
I once used indicators until I came across a trader who has lost a lot through forex trading and he simply warned me not to ever start trading using the indicator based education which I have learnt before which came to me as a surprise as I thought forex was all about indicators. This guy introduced me to price action which made me to work hard trying to understand the concept behind price action. I started learning price action trading the support and resistance levels until my knowledge grew even wider as I learnt more until I got a course pack which changed the way I traded and today I believe that I one of the best as I got this ground taking Forex education, which banks and financial institutions dont want an avarage trader to know. Lets trade forex like professionals and I advice you not to start trading with using the indicator based knowledge because you will lose a lot of money. You must learn price action and trust me you will become a good trader and create wealth through forex trading.