ForexMentor, Price Action Vs Technical Indicator Clutter

Oct. 20, 2011 - PRLog -- Forex Mentor’ home study course has been turning frustrated traders into forex market marvels for the past decade. Peter Bain's forex mentoring system has helped thousands of forex traders turn their fortunes around by going back to the "mechanics" of how the pros make trading decisions.

Statistics show that the majority of new traders to the forex, rely on technical indicators and black box systems to guide their trades. The problem with these systems is that they don’t adapt to real-time changes in the market, and not only do they clutter the charts, they also clutter the trader’s decision-making skills. And since successful forex trading depends on the ability to react to sudden market changes, novice traders end up losing.

ForexMentor teaches traders to focus their attention on price action rather than technical indicators as they find major support and resistance levels, known as "pivot levels". This is the method used by commercial traders, and the central focus of Peter Bain's home study ForexMentor trading course.

Peter Bain is an international forex trainer and high profile trader who first struggled in currency trading until he was mentored by some of those commercial traders. "I was fortunate enough to become the protégé of an inside circle of commercial traders who were considered to be the best in the business. I benefited from being taken under their wing, so to speak, and being able to study the methods and formulas they used to trade the Forex."

The Forex Mentor Trading Course will teach:
•   How to interpret and understand market price action
•   How to plot support and resistance levels on price chart
•   How to know if price is trading in a BUY zone or SELL zone.
•   How to identify real price reversal patterns.
•   How to pick price tops and bottoms.
•   How to know which currencies are actually ready to make a move.

Peter Bain’s course teaches its students to place special emphasis on Price Support and Resistance, as they are the most important signals in trading. The course also teaches the use of pivot points to see where the market is heading. This facilitates price movement predictability, providing traders with a frame of reference so they can see what price is doing, and more importantly find their support and resistance levels.

The ForexMentor training course also includes practical tips and real-life examples showing how to avoid certain pitfalls, and nuggets that help in making successful trades.

•   Learn and avoid top mistakes unsuccessful Forex traders make.
•   Learn how Commercial Traders predict market trend reversals.
•   Learn how to use “Scalping” and “Position Trading” for profits during price consolidation periods.
And much more.

The Peter Bain Forex Mentor trading course is a forex education by itself and is one of the most comprehensive forex guides available today. For more information on how price action works, please visit --> http://bloggeratlarge.org/forexmentor