One phenomenon that derails amateur Forex traders over and over again is technique complexity syndrome. They research a trading method, buy it and the minute they receive it, they jump ahead to what they consider to be “the guts” of the technique. In doing so, they entirely ignore all of the other aspects of trading, including risk management, discipline, and psychology.

They get into the “grit” of the system only looking for that big, strange, slap-your-forehead, jaw-dropping “secret” which will swiftly release the mysteries of the Forex cosmos and make them Master and Commander of every Forex pair. All too frequently, they find themselves completely disillusioned or the “nerve” reveal something they’d already heard about (but had not experienced). Amateur traders will then let go the method as ‘too simple’.

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Or, the amateur trader will look for that complex formula, cryptic mixture of indicators and all too often what they actually discover is a set of simple indicators working together in an uncommon way, and they say, “Well I could have done that!” — and they become disappointed or annoyed, because they wrongly assume that any technique MUST BE complex, it can’t possible be SIMPLE! So, they shelve the method or return it and complain that it’s “not intricate” enough.

This is a serious mistake – because the amateur trader will then repeat this error technique after technique and they will never take the time to study and understand the full procedure of trading.

Don’t make this mistake. Understand that most trading methods out there are not intricate. They weave a smaller set of rules together in a simple manner (simple enough that anybody can apply them) but apply them in an unusual way. Complex systems are for computer geeks and big banks — if you can’t understand something, you can’t possibly apply it.

Never skip ahead when learning a powerful new system for trading Forex. Make certain you study the setup, entry and exit rules (which should exist); that you learn how to protect your trade with stops; and that you learn how to apply your system on a timely basis (be it hourly, daily or weekly) to get the most out of the method and to learn how all facets of what you study work cooperatively to make you a better trader.

Remember, Simple but powerful — using just a few indicators or rules applied in a non-textbook approach — is the key to getting an edge in the markets.
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