So by now you know that we started talking about the 12 MT4 technical indicators that you need to avoid like plague on your charts. Okay Why trading Forex Because most of these technical indicators, most of all of these, and to get those ones actually developed for stocks. most of them do are just old school.
Most of them are developed 1920’s, 1930’s, 1940’s 1980s are we are in 2020s. So you cannot just like, you cannot be using a phone that was designed 30, 40 years ago to date. The same thing. You cannot be using indicators that were designed for, for, for, for old school trading. You know, before they used to be like a trend, you open your entire trade, you go back to sleep and that trade will be there for the next two, three months. They also know that trend has been discovered.
The trend cannot change all like today, you pleasant trip. Before you know it, market can turn around. Okay, so one of those indicators that you need to stop avoiding starting today is called chart patterns. Yes. I know yesterday we talked about a candlesticks. Now the chart patterns, how do you know that pattern is formed? Is he not after the partner has already formed that, you know, especially if you are new.
That’s one of the reason why over 90% of New Forex traders lose 90% of the account within the first 90 days or their trading career because there are so much information overload, information, information overload. You have to learn this, you have to learn that different patterns. How do you know that your pattern is formed I mean go with me. Let’s see.
If you go to Google, this is a Google image right now and those type chart patterns, they can look at this. I mean they can look at this. Okay, you have double top, you have double bottom, your have rising wedge, you have falling wedge, you have inverse head and shoulder ,you have these these, I mean just thousands upon thousands of different type of patterns. You have ABC bullish, garish, that show up.
How do you know the head and shoulder have been form is it not after it has been formed? All these jumbo, jumbo is too much. Especially if you are starting new. This is not for you and this is I tell people, I mean as a matter of fact, I coach and I mentor many people. I talk to so many people, coming from different background. And one of the problems I discovered they have is all this information the gurus has thought us in the past they’ll be telling you looking for the patterns, how many patterns will you look for, how many patterns, how do you know that the pattern is formed, if not after the pattern has already being form.
And that is what I, you know when I got started trading Forex, I followed all of these and of course within my first six months that was 2006 until I discover the truth and the truth finally set me free. And that is exactly what I’m telling you right now. You can continue doing what you are doing and of course keep getting the results you are getting.
Albert Einstein defined insanity as doing same thing over and over and expect different results. What if you need different results you’ve got to try different things so you have done these your way for so many years. If possible. And of course it has not really work for you. So why don’t you try it my way Okay. I mean, you have tried all these pattern, you kept burning your account and you kept losing money.
So why don’t you try my own way After all, you have nothing to lose. You don’t have to try all of these on a live account, all you have to do is puts my watch to practice to test on your demo accounts for three months and see how this way change your life. Okay So my friend, I hope you got that.
If any of your coaches or mentors or whatever is still telling you to learn this pattern, learn this pattern. I trade naked chart. Okay There’s no doubt about it. I trade naked chart. I trade candlestick. But I have just two pattern that I master and those two type have made me thousands of thousands upon thousands of dollars.
So I don’t have to master 40, 50 different kinds of patterns. Okay I hope you get that my friend. So once again, if this is your first time of visiting channel, do me a favor. Subscribe to this channel I know we’re trying to get this to 1000 before the end of this month. So let’s do it. Subscribe. Hit the botton. And of course, like this video share on your Facebook profile. Leave your comment and you could be the next winner of our palliative cash gifts. Thank you so much. I will see you tomorrow.