2 June AtoZForex, Vilnius — Many new traders and beginner traders look for the “Holy Grail” (I too have been there) that one Forex indicator that will help them succeed a hundred percent time. In the end, if some are still trading, it is because they have attained a trading state easily described as “Nirvana”, that it is a probabilities game and it is the net sum that is more important.
To put it more simply, “Each trade you win or lose is a battle with market forces, what is more important is to win the war”. This is the end game every trader must focus on to become a successful Forex trader.
Simple yet Powerful - Trendlines
Many times, the simplest tools are the best for traders to use. Why? There are no complicated set of rules and help a trader from subjective trading towards clearer objective trading.
The use of drawing tools is many times overlooked and yet a powerful tool every trader should understand and make best use of. The proper use of these lines can have a profound effect on a trader’s account. A lot of times the human brain will fool you into seeing trades that are not there, as nature has in built in each one of us a survival mechanism to fill in the blanks, in what we see with minimal information. It is in the human DNA and nothing wrong with that.
The use of drawing lines on charts will help you control your emotions hence the trading decisions you make objectively.
How to draw diagonal lines and straight lines
The following webinar touches very briefly and gives a simplistic approach and guides you past how to draw diagonal lines and straight lines, through the eyes of one trader.
After all Einstein’s equation of relativity E=mc2 is a simple yet powerful equation that has shaped the course of humanity.
Traders make things complicated, add multiple indicators, make a rainbow on their charts while it is neither necessary nor relevant to do so. Why make trading complicated? Keep it simple!
Signing off … Trading Doc
Do you have questions about diagonal or straight lines? Let us know down in the comments section.