Today I’d like to discuss a topic that is highly pervasive amongst Forex traders.
Many traders think that Forex trading needs to be complex. They have multiple indicators with arrows and lines pointing every which way, taking over the charts. They think for something to be good, it needs to be complex. I used to think that way as well. Not anymore.
Let’s talk about sports for a second…We see YouTube videos of basketball players doing crazy dunks and tricks and think that’s what being good at basketball means. We fall into the mindset that to be good, it has to be fancy.
However, that’s far from the truth. If you look at any of the high level NBA games, the players usually focus on executing the fundamentals really well. There are hardly ever any crazy shots or fancy moves. It’s all about efficiency and scoring the points. Listen to any coach, coaching his team, and you” hear him talk about fundamentals and execution, not showmanship.
Similarly, as traders, instead of searching for fancy indicators that look and sound all spiffy, all we need to do is execute well on the fundamentals. By fundamentals I don’t mean the economic factors, I mean the basic stuff we get taught when we first learn about Forex trading, like support and resistance. There is power in getting really good at the fundamental principles of trading and executing efficiently on these.
Today, I’m sharing a video with you that highlights the power of these basic principles of trading and the number of trades and profits we can get just by focusing on these and letting go of our need for fancy indicators. The Lesson here: Keep It Super Simple! Practice KISS and you’ll be on your way to profits!