Warning: These Are Not Trading Strategies

I came across a tweet earlier on Twitter that pointed to this link:

http://www.ecommerce-journal.com/articles/17087_top_five_basic_forex_trading_strategies_for_beginners

This is some of the most inaccurate novice stuff I’ve ever seen in my trading life. It’s just plain wrong.

A trading strategy is a plan that dictates when and why you’d be getting into and out of a trade. A real strategy includes money management rules and based on the strategy you’ll be able to tell when it’s working and when it starts to break down.

The items noted in the outlandish post above are blurbs on technical indicators and trading concepts…not strategies. Clearly, the writer of the post has at best a amateur understanding of trading of which I find personally offensive that they’re even daring to publish such misinformation. It’s this kind of stuff that mislead traders starting out who have good intentions and in the end cause them to bleed money leaving them more clueless than when they started.

Beware of information floating out there that oversimplifies trading. Trading is a serious business that one can’t possibly learn in one sitting. But it’s not impossible to learn how to do successfully…you just need to make sure you learn from credible sources and/or have good mentors.

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