I know that there are certainly a lot of traders out there who are looking for forex trading forecasts. They want somebody else to tell them when to buy, sell, open, or close a trade. For whatever reason, they feel as if they can’t make these kind of forecasts, themselves. That’s absolutely ridiculous.
There is absolutely no reason why you couldn’t make these kind of predictions. I assure you that the people running these forecast services aren’t any smarter than you. Many people think intelligence is the key to forecasting the forex market. Nothing could be farther from the truth. The truth is there are many successful traders out there who have never even graduated from high school.
It just requires some thinking outside the box if you want to forecast the market.
First off, you are probably not using the right tools. In fact, I’m willing to bet that you are using too many tools. Look at your chart. Is it just filled with a bunch of useless indicators, half of which you don’t even understand what their purpose is? I thought so!
This is the case for many traders. They somehow feel that more is better. If you are a student of trading, I’m sure you know that is certainly not the case.
So, let’s get rid of all this useless filler.
Take a look at your charts for the first time without anything on them. This is what is called naked trading .
You may be wondering what the point of this actually is? Well, it’s real simple. By looking at your charts in this manner, you are forced to see them in their purest form. There are no Stochastics, MACD, or any other indicator blocking your view.
Now, all you have to do is pay attention. Watch the market throughout the day, and don’t force yourself to “get it”. It should come naturally. it’s like those 3-D paintings. The harder you try looking at it, the less you are going to see. If you look at the movement of the price more casually, you’ll start to notice something: Patterns.
You’ll begin to notice price action patterns that get repeated over and over again. You’ll be stunned to realize that all this information has been staring you right in the face ever since you started to trade, but you never noticed it.
Once you start recognizing these patterns, you can start to be able to make forex trading forecasts to predict future price movement.
Source by John Templeton