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Selective Forex Trading: by Don Snellgrove

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Chapter 2. Modernist versus Traditionalist Approaches to Trading

Modernism and traditionalism as well as the various trading styles and methodologies found within the markets are things that every trader should understand and appreciate. Modernism (as I use the term in this book) is related to proprietary systems used for trading, in contrast to traditionalism, which is based on traditional approaches used in trading smaller markets within the trading industry.

I hope you will understand there is a difference between modern and traditional systems and will explore the difference with an open mind. In general, I've found that learning something about the history of the forex, as well as a few of the different types of traditional signals, trading styles, and other concepts (information that is available to everyone for free or for a fee) helps you see the significance of trading the larger forex market while using proprietary tools instead of traditional software. This requires just a little personal research. After you learn the basics from this book, and after you develop a personal awareness about the largest financial industry in the world, your eyes should be open to the possibility of becoming a professional trader or, if you're already trading, to becoming a better trader.

I must give credit to those who early on forged the way with research and development, often by trial and error. These traditionalists made it possible for everyone to enjoy the opportunity that the forex ...

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