I was no different that anybody else when I first started trading forex. I looked high and low to find the best forex trading platform. I would be in awe of these thousand dollar trading platforms that you see on commercials in financial networks such as CNBC and Bloomberg. How could you not be?
The commercials showed you a forex trading platform which had every single bell and whistle you could imagine. The graphics looked beautiful, and everything about it just screamed state of the art. But as I grew as a trader, one thing became very evident to me. None of this is actually necessary. So I deplore you that the next time you see one of these glossy ads, respond by saying “who cares”?
Have you ever heard the saying that a great trader can trade successfully irregardless of the tools they use. I agree 100% with this. I didn’t when I first started trading. I used to see videos of professional traders on wall street in front of their computers with 10 screens and every imaginable toy at their disposal, and I thought this is the only way a trader can succeed. That is rubbish!!
Take a look back at the history of the stock market, WAY before computers. Look at famous floor traders like Jesse Livermore. He was a floor trader at the turn of the 20th century. He became rich just by following the movement of the price and how traders reacted to it. The amazing is that NOTHING has changed since then. The only difference is that traders think they need all this excess.
John Templeton has been a successful forex trader after getting forex training. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.
