We live in interesting times, don't we? We live in a time where the majority of forex traders rattle on and on about what platform they use, and they brag about how much they paid for them? They'll tell you that they spend thousands of dollars on the latest "state of the art" toy. Are these people insane?
I want to finally set the record straight for all forex traders. It is absolutely meaningless which forex platform you use. As long as you have a reliable data feed, then I could care less how much money you spend on you forex platform. I don't care that it has thousands of little toys that you can play with. I'll stick with something like Metatrader, which is free. Even though it has a lot of tools in it, 95% of it is completely useless.
Please don't waste your hard earned money on trading platforms. You could use that money and put it in your account to trade with. I know it is hard to look away from a flashy sales page that displays all the "neat" gadgets that come with it, but in the end you have to ask yourself "how does this help me?"
The moment that trading become more about toys than the actual trader is when the industry took a very wrong turn. A truly great trader can just look at basic price chart and have a good estimation of where the future of the price will be headed. We have been programmed into thinking that we can't do this unless we cover our charts with needless indicators.
I know that an indicator-filled chart may be more pleasing to the eye, but we are not here to make "art". We are here to trade successfully. The bottom line is what counts.
So, I beg of you, that the next time you start thinking about how you can't live without the latest "state of the art" piece of software, just tell yourself "yes you can. I don't need it!"
Don't get caught up in the flash of fluff of this business. You've got software programmers who know more about making video games than they do about trading. This is why the majority of traders in the forex market lose money.
You'll save yourself a lot of frustration and your bottom line will finally be in the green with a lot of growth up ahead.
The key to trading the forex market comes down to price action.
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