The so called "market gurus" created thousands of concepts to help explain what drives the market. Elliot waves, smart money concepts, stochastics, MACDs, moving averages, return to means, fundamentals, news, trends, support/resistance, supply/demand, correlation, price action, VWAP, sentiment, order books, reversal patterns, confluence between multiple timeframes, relative strength, bands, volume, you name it...
Novice traders choose one or a few of those concepts and spend years buying books and courses, learning and trying to make money with that. They think they now understand how to trade when in fact they don't. They also believe they now understand how the forex market works, but in fact with all of that bogus knowledge they're further away from having the true understanding than they were when they started.
The actual driver of the forex market is money. Let me repeat it: it's money and nothing else.
And all the answers to your questions are in the chart. They're not in the books nor in the mass-market guru courses nor in youtube. They're also not in stochastics, MACDs, EMAs nor in any other concept that you learned from those teachers.
Your goal is to train yourself to see where the money is in the chart and make money with that. There's nothing else that you need.
I've been laughed at and ridiculed because of the statement above multiple times. But I don't really care.
When Jesse Livermore, one of the richest traders of the previous century, said that he's making his decisions based on the chart (ticker tape to be exact) only and nothing else, he was considered controversial. When I am saying the same thing, people still think it's a controversial concept, a century later. Well, I don't think that this is going to change over the next 500 years or 50,000 years. The reason is simple: it takes effort to learn to read the chart, and people usually want shortcuts to wealth. So they keep looking for the holy grail strategy without success while in fact all they needed to do was to learn to interpret what the chart is telling them.
Even Anton Kreil opposed what I'm saying in one of his videos. He doesn't believe that all the answers are in the chart and that it's possible to make money day trading the forex market. Well, that's just a proof to me that he simply does not understand how the forex market works. He may be knowledgeable about other things, but not about the forex market. And since he's now in the teaching business, he obviously has his own agenda behind his statements (promotion of his courses). Nonetheless I appreciate the value that he provides in his public talks, he's a very smart guy, but when it comes to forex, well, his logic just doesn't hold.
The good thing is that I am nobody's bitch and I talk raw. I don't need to lie or sugarcoat anything because I have no agenda. I just trade and that's it. Although I am available to teach, I am not in the education business. And what I talk is what I actually believe in and it's what I use on a daily basis.
Have a good trading day.
