Aug 6, 2008

More on Forex learning | ForexGen

One of the most important points in your Forex education should be that if you try and predict Forex prices you are 100% guaranteed to lose. The reason is obvious yet more novice traders make this mistake than any other - yet you don't have to predict to win let me explain why ...Predicting is simply another word for hoping or guessing and that will not make you money in any venture in life and certainly not currency trading.Let's first dispel the myth of prediction and then explain what you really have to do to win.Why Predicting Forex is as Accurate as Your HoroscopeThere is a huge industry in guru's who tell you they can predict market tops and bottoms and that markets move to a scientific repetitive pattern and pedal ridiculous theories based upon Gann, Elliot wave or Fibonacci numbers.They all lose and its again common sense why markets don't move to a scientific law.Why Don't they?Because if they did, we would all know the price in advance and there would be no market - a market by its very nature moves on uncertainty.Also if there was a scientific theory that applied to Forex trading whoever had it, would not need to sell it to you, as they would be making too much money!