Forex Factory Forums: They are great, but not overdone
I’m sure if you’ve been in Forex trading for at least a while, you’ve probably been in the Forex Factory forums. It goes without saying that they are the most popular on the internet. They are running very well and there are countless threads that you can read. If I could give advice, I would recommend that you do not overdo it. What I mean is that you do not spend hours a day on it.
When I was a rookie, I must have visited all the forex forums on the internet. Do you know what he gave me? Headache How could I not
Every day you hear people saying that they have discovered “The Holy Grail” over and over again. They try out all the sophisticated systems that are talked about in the threads, but you see no success. There are mutliple reasons for this. First, there is no “The Holy Grail”. Second, most of these systems discussed in the forums are usually systems that rely too much on the indicators.
The indicators are inherently lagging behind. If you want to find out what has already happened on the market, follow the indicators. If you want to know what will happen, you will learn to interpret the price action.
I do not want to sound like insulting the forums at Forex Factory (or elsewhere). I’ve just seen first-hand how to make traders too apathetic.