Hi, this my first long text written in english, so I hope that it won't trigger any grammar nazis . I chose this title because honestly, I'm really getting sick. I want to learn, I don't mind spending my free time in front of a computer studying and analysing charts, BUT the absurdity of all the indicators and patterns simply astonishes me. When I started learning forex I thought as a 15 year old noob, that I'll just learn some indicators and everything else is psychology. Tried, failed, analysed why, came to a conclusion, that I should go with just a few indicators and watch the price action. Tried, failed, analysed, came to a conclusion, that indicators are apparently useless, since they only give you the information already available on the chart (how stupid and naive I was to believe that some indicator could do the slave work for me ).
Now I am kind of stuck. I am in the stage where I believe that yeah an MA can be good but the most important things are fundamentals and price action. No stochastic, RSI, MACD any of that stuff won't give me an answer, where the price will go in the future. I'm now 17 and still interested in FX but all the stuff I find in the libraries seems to me as a complete BS, let's be honest here it's easier to teach it than to do it right? I can not believe that there are guys in Goldman Sachs waiting for an MA cross and for their RSI to hit 80 and just after that execute the order. It would be not just ridiculous but also stupid and naive to believe that the smart money trades like this. Of course I'm not trying to insult technical traders, but the lack of proven information and my experience force me to think this way. But I'm still open to TA.
So guys here come my questions to those determined 5% of forex traders:
What do you think about http://theinnercircletrader.com/Tutorials.htm?
What books would you recommend to somebody who is highly determined to do anything to learn?
Are there any other sources I should look for?
How did you learn and if somebody taught you the skill or at least helped you could you share it with us or at least PM me?
Is my opinion, that aproximetly 99% of information regarding trading is nonsense right?
I am not asking for a step-by-step guide on how to become a trader, all I would like is advice on where to learn from, since the internet is overflooded with scams and ''gurus''. Not to end this thread on such a negative note, I wish you all good luck and succesfull trading and thanks in advance
Now I am kind of stuck. I am in the stage where I believe that yeah an MA can be good but the most important things are fundamentals and price action. No stochastic, RSI, MACD any of that stuff won't give me an answer, where the price will go in the future. I'm now 17 and still interested in FX but all the stuff I find in the libraries seems to me as a complete BS, let's be honest here it's easier to teach it than to do it right? I can not believe that there are guys in Goldman Sachs waiting for an MA cross and for their RSI to hit 80 and just after that execute the order. It would be not just ridiculous but also stupid and naive to believe that the smart money trades like this. Of course I'm not trying to insult technical traders, but the lack of proven information and my experience force me to think this way. But I'm still open to TA.
So guys here come my questions to those determined 5% of forex traders:
What do you think about http://theinnercircletrader.com/Tutorials.htm?
What books would you recommend to somebody who is highly determined to do anything to learn?
Are there any other sources I should look for?
How did you learn and if somebody taught you the skill or at least helped you could you share it with us or at least PM me?
Is my opinion, that aproximetly 99% of information regarding trading is nonsense right?
I am not asking for a step-by-step guide on how to become a trader, all I would like is advice on where to learn from, since the internet is overflooded with scams and ''gurus''. Not to end this thread on such a negative note, I wish you all good luck and succesfull trading and thanks in advance