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Naked Forex: High-Probability Techniques for Trading without Indicators by Walter Peters, Alex Nekritin

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CHAPTER 14

Becoming an Expert

Far too many people—especially people with great expertise in one area—are contemptuous of knowledge in other areas or believe that being bright is a substitute for knowledge.

—Peter Drucker

Forex traders around the world are making money every day. These traders have one thing in common—a secret. This secret may surprise you. If you are like me, when you first started learning about trading you thought all the traders who were making money were computer science, mathematics, or physics wizards with lightning-fast computers deploying secret algorithms. Trading was the domain of the well educated that had the computing power to crack the market code. I was convinced that only by duplicating these efforts would I be able to consistently rack up profits. I knew that trading had to be complex, and perhaps you feel think same way.

This is not true.

Some of the very best traders in the world share a simple secret: They use extremely simple and yet powerful, trading systems. The best traders in the world—hedge fund traders, bank traders, private millionaire traders you will never hear from—all have one thing in common: These people are experts. They do one thing.

WHY DO YOU WANT TO TRADE?

This may seem like a funny question, but why do you want to trade? If you want to trade because you want to make money, perhaps trading is for you. If, however, you want to trade because you want excitement, or you want to be able to tell people that you are a trader, or ...

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