I can’t help but feel that most newbies who are curious about forex day trading are completely intimidated with the idea. I think it goes without saying that anybody who enters forex trading, dreams of making a living at home, but the process of day trading can be extremely daunting. I’m here to say “relax”. You probably have this misconception that you have to be an “expert” to make a living doing this. That is simply just not the case.

It’s not about really about being a genius. There are 95% of traders who are losing money right now. I guarantee you that there are plenty who have had more education than you or I. If you were to actually meet some of the 5% of trader who are making money, you’ll soon realize that you don’t have to be a brainiac to make a living doing this.

You have to decide on what kind of trader you plan on being. You have to choose between technical or fundamental analysis. Since you are going to be day trading the forex market, I strongly encourage you to choose technical analysis, as that is what is most synonymous with day trading. But be careful. When I say technical analysis, I don’t mean grabbing a few indicators and creating a mechanical trading system. After all, if you are trading the markets mechanically, then there really isn’t much analysis going on, is there?

Remember… a TRADER analyzes the market, not the INDICATORS. Once most newbie traders grasp this concept, the clearer the market becomes.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. You too could learn forex.