Trade Forex Without Indicators

If you are planning to do forex trading, there are many ways to go about doing this. Where most people fail is that they being trading with lots of indicators.  Their charts are filled with them, and traders are just hoping for the best.  If you are one of those traders who want to think outside the box and trade forex without indicators, then I want to applaud you. 

If you want to do this, then you are going to have to understand price action. Price action is the backbone of technical analysis.

Begin by opening up your forex charting platform, pull up your favorite currency pair, then choose a bar or candlestick chart.  I implore you to fight that urge to put indicators on your chart.  This can be difficult if you have been trained to think that you HAVE TO use them.

After this, come the tricky part.  You have to just simply watch the price.  (Remember, we are thinking outside the box).  Focus on when the market is at its most explosive.  If you do this right, there is something that should really stick out:  After these kind of volatile moves, the market will retrace back to a common support and resistance area.

If you don't see it right away, don't worry.  Price action is just something that takes some getting used to.  The more you try it out, the clearer it will look to you.  Remember that Rome wasn't built in a day.  You've got a long run ahead of you.