So you want to learn about day trading? Word of Warning: The vast majority of day traders lose money.

If reading that didn’t scare you, then you might be one of the few people who have the courage to day trade the forex market carefully, and not fall into the dangers of overconfidence which many traders suffer from.

But that’s only part of the equation. If you can truly grasp and have a deep understanding of the market, your chances of succeeding skyrocket.

That’s when people get lazy and they want the easy way out. They would prefer to have an indicator like a Stochastics, MACD, RSI, or what have you to do the work for them, instead of them trying to figure out the correct way to day trade the forex market. Too many people go for the bells and whistles, if you ask me.

The lagging indicators are great for telling you has already happened, but if you want to know what the future holds, then it’s all up to you.

One thing that most people don’t get is that all the answers are underneath those indicators, which is on a naked chart (meaning no indicators). The first you do this may seem awkward, but a bar chart is really the truest way to trade.

If you really study price action the right way, one thing will become very evident to you, and that is future price movement can, in fact be predicted. The opportunities are endless for a hard nose forex day trader. You’ll see so many entries, you won’t know which way to choose.

However most people never really get to that point due to the fact that most people keep their indicators on their charts. But trust me, when I tell you that the quicker you learn price action, the faster your profits will rise.

I am a personal believer that price action is the one of, if not the single most overlooked method of trading, at the present time. If you need any proof all you need to do is look at this statistic: 95% of all traders are not making money.

Believe me when I tell you that I know how sad and depressing these kind of statistics are. But unfortunately, most traders don’t learn from their mistakes. In fact, I’d be willing to say that you are probably part of the 5%.

So what’s the hidden secret to success in trading. The truth is there none. Just copy what the rich and successful do. It’s really that simple.

If you do a little research, you’ll find out what the number one weapon is for the traders that are doing this full time. It’s price action.

It should be said that not every body trades it the same way. But the important thing to understand is that most don’t rely on Stochastics for help.

So, who uses indicators? Well, I don’t want to point any fingers, but it’s real obvious that if you were to go on any forex forum on the internet, the answer should be really obvious. They solely rely on these lagging indicators are their only reason for taking a trade. They don’t even pay attention to what the price is trying to tell them.

The sad thing is that most of these struggling traders have never even entertained the idea of using price action. Unfortunately, they would much prefer to use formulas that don;t help you in any way to decide whether to buy or sell a currency.

Quite frankly, when it comes to trading price action, there is no purer form of trading. It’s amazing because it gives you all the information you need or want to know without being overbearring, which is the problem with all these indicator driven systems.

If you have your heart set on becoming a millionaire the first time you day trade forex, you are in for a rude awakening.

The good news is if you read that and you aren’t trembling in your boots, then there is a very good chance you can succeed because day trading involves walking the fine line between confidence and overconfidence.

But that’s only part of the equation. If you can truly grasp and have a deep understanding of the market, your chances of succeeding skyrocket.

This is exactly the time when traders feel the need to completely load up on indicators like Stochastics, MACD, etc… So instead of trying to figure out the market for themselves they would much rather take the advise of a lagging indicator, just because it so happens to look pretty on a chart.

All these indicators are good for, is to tell you what has already happened. They are completely lagging by nature.

The remedy for this is simply to learn price action. Study a chart, naked (the chart, not you). Take off all the indicators that you find so valuable and just look at it, in its most raw form. A bar chart is all you’ll need.

When you do this, you’ll start to see price action can be predicted. There are literally hundreds of opportunities to scalp the markets every single day. They are right under your nose. It really is a day trader’s dream out there.

The problem is with all these indicators blocking your view. How on earth are you supposed to be able to even look at the price with all the needless colors and lines running through it. If you can take this leap, you can succeed in forex.

If you have your heart set on becoming a millionaire the first time you day trade forex, you are in for a rude awakening.

If reading that didn’t scare you, then you might be one of the few people who have the courage to day trade the forex market carefully, and not fall into the dangers of overconfidence which many traders suffer from.

But that’s only part of the equation. If you can truly grasp and have a deep understanding of the market, your chances of succeeding skyrocket.

This is exactly the time when traders feel the need to completely load up on indicators like Stochastics, MACD, etc… So instead of trying to figure out the market for themselves they would much rather take the advise of a lagging indicator, just because it so happens to look pretty on a chart.

The lagging indicators are great for telling you has already happened, but if you want to know what the future holds, then it’s all up to you.

One thing that most people don’t get is that all the answers are underneath those indicators, which is on a naked chart (meaning no indicators). The first you do this may seem awkward, but a bar chart is really the truest way to trade.

If you take the time to truly learn price action, the one thing that most people get out of it, is the fact that it’s such an easy way to predict future price movement. You literally get a sneak preview of where the price will be headed.

It’s just so difficult to see this when you have staring back at you, are these indicators that are of no help. If you want to learn day trading, you better learn price action. They are synonymous with each other.