If you look online, you can find plenty of free Forex education from some of the great trading masters. Here we will look at a couple of sources which you should study, if they want to enjoy currency trading success and you can learn from them for free…
Let’s look at a few true market masters and see how they can help you become a better and more profitable trader.
Dow Theory – How and Why Markets Really Move
Dow Theory is essential education for anyone wanting to know how and why markets move. Charles
Henry Dow (1851-1902), a founder and former editor of The Wall Street Journal, his theories were later refined by William Hamilton and Robert Rhea.
Dow compared the movement of markets with the behavior of the sea. The primary trend in the market corresponds with the direction of the tide, the secondary reactions and rallies are the waves, and the movements within the trend are the ripples on the waves.
Dow knew that markets could not be predicted and they can’t, despite what many so called experts may say – but you can see patterns which are a reflection of human psychology and economic forces and they can be traded for profit.
Forget all the predictive theories such as Gann, Elliot and Fibonacci and study Dow theory; if you do you will understand how to win with technical analysis, how to catch trends and how to trade the odds.
Richard Donchian – The Grandfather of Modern Trend
If you haven’t heard of Richard Donchian you are missing some great insight from a true market master!
Born at the turn of the century, his 4 Week Rule automated trading system is one of the best free Forex trading systems you can get and will beat all the heavily hyped Forex Robots you see online. Look it up and it will give you a great way to enjoy currency trading success, with a fully automated trading system which has made savvy traders huge gains for over 25 years.
His general rules for trading and his rules for using technical analysis are also essential Forex education.
Richard Donchian didn’t begin trading his automated trading systems until the age of 65 and he then carried on into his 90s, showing you’re never too old to be trading!
Richard Donchian, was a true innovator in terms of technical analysis and the fact that the trading methods he developed form the basis of so many trading methods still used today, shows the value of his work.
Theories the Pros Take Seriously and so should You!
The theories above, are the ones other trading legends take seriously and include such great traders as trader Vic Sperandeo, Richard Dennis and many more and if they take them seriously – so should you.
You can find all the information about there work free online and you should study it, forget the trendy theories and the self proclaimed experts and learn from the real pros.