If you are completely new to trading, then you may not be sure what I mean by this, but basically I am saying don’t fall for all the gadgets and toys that are out there. For example, take a look at forex software. There are literally hundreds of companies selling their own charting software which has a thousand bells and whistles on it. Companies like TradeStation and E-Signal have made millions of dollars offering these kind of services, and guess what? You don’t need them. You don’t need to spend your hard earned money on something like this.

You’ve already lost money trading, before you have taken your first trade. No wonder why people think trading is hard. You’re already in the hole, and you haven’t even started trading yet.

I’m not going to say that there aren’t any traders who are making money using these bells and whistles. All I’m saying is how completely unnecessary it all is.

I speak about this from experience. When I was a brand new trader, I must have purchased every piece of software that I could get my hands on, and none of it helped.

All you need is a simple charting software. You can get Metatrader which is completely free.

Just look at a simple bar chart long enough, and you’ll be amazed at all the information you’re going to find.

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