The problem
The biggest mistake most of the traders does is that they are glued to their screen and all what they think off is where is the next signal from x indicator is going to happen.
Guys any movement on the chart can be justified by an indicator or a strategy, for example the fib levels , when the price bounce from such a level we get excited , but the truth is if we fill the screen will lots of lines the price will bounce from one of those levels.
So what is missing??
Fundamentals, news … a trader has to know the news and relate them to the market movement, the news is what’s moving the market not the indicators, sometimes technical strategies move the price but that is because lots of people watch the same screen and have the same reaction, like price hitting all time high or all time low or reaching a round number.
But If a big deal between international banks or countries is about to happen they will not wait for a candle formation, they will not wait for a price break, they will not wait for an indicator.
The price movement in forex is random and are subjected to human reaction to the news and to what they see on the chart, the indicators will help us visualize.
I am not saying to drop technical trading or drop your indicators, NO... Because those indicators are created based on a pattern or to predict and forecast a move based on history, and human nature is all about patterns and history.
What I want to say is that to be a successful trader you need to know about the world economy and the news, so spend 10 to 15 min reading the news and fundamentals before you decide your trade

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“Risk comes from not knowing what you're doing”
“Never argue with an idiot. They drag you down to their level then beat you with experience”

Thanks MiniMe.
Could you give us your source for this information. A good source for the direction the news is taking the market. Thanks. Jatki24300

MiniME;
Oh how right you are. I don't take signals, but receive them. I watched the pound and the signal was buy up to 203.00. I came home that night to see the Pound had reversed, a can't remember, but it was a huge amount. I asked myself, what's going on"? I went to my mailbox, and found out there was a run on Northcut, and the BOE had to bail them out. Here are some links, but you'll have to search for them:

1. Forexnews.com
2. ADVFN
3. Investica LTD
4. GVI
5. And of course, the UK Paper

All are free.

All remember, if indicators could predict the price, we'd all be millionaires

Just my 1 pip

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Not Everything that looks straight is: Until you measure it.

PS

I got a signal FROM A WELL KNOWN BANK to short the USD/JPY @ 114.00.
Look at you charts. What a sucker punch!!!!!

__________________
Not Everything that looks straight is: Until you measure it.