Home Myths & Facts for Traders-Part 1

Myths & Facts for Traders-Part 1

Myths & Facts for Traders-Part 1
by admin

We are all familiar with such kind of pictures showing us how we could become successful traders and start using trading for a living!

MT4 Indicators

When you see a chart like this, everything seems much simpler! The only action you have to do is wait until the blue line crosses the red one.

 

Or pictures like this:

MT4 Tools

 

Here we have the famous HEAD& SHOULDERS PATTERN. In this case you just have to follow the rule:

In the first shoulder GO LONG!

In the neckline you GO SHORT!

Wait until the second shoulder and…. You BECAME A MILLIONAIRE!

 

The major problem with all this stuff and technical analysis is that the people who try to sell you such strategies, are really selling what has already happened in the past!

Anyone can cut something from the past and by showing you the “convenient” movements occurred IN THE PAST could sound like an expert.

These traders speak also for the great number of pips they got, but they never analyze how they recognized patterns like the above.

 

Almost none of these Traders tells you what to do when your MT4 chart looks like this

 

 

MT4 Traders

This is a usual live-price-action pattern!

Can you recognize any of the above ‘obvious’ patterns that tell you how to act?

The answer is NO

The scope of this article is not to discourage you from becoming a profitable trader.

In fact, the real scope of this article is to inform you that all of these patterns of technical analysis can be read by Machine Learning Tools. Such tools can be offered in your MT4 & MT5 platform as plugins and therefore help you MAKE YOUR TRADING LIFE EASIER.

Technology is here to act as a partner in our trading lives and both Machine Learning and AI have already started to make the difference in many sectors. The most important benefit is that you could become an independent trader without being influenced by all these RICH & FAMOUS TRADERS whose only job is to make money by selling you hope!

 

 

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