What Is The Best Forex Trading Stratergy?

To many, it is really difficult to pick the best forex trading strategy, just because there are so many of them around. Most people just usually stick with indicator driven systems, and that is why so many people fail. Because they are relying solely on lagging information, they don't really get any insight as to what is happening in the market at real time.

Other forex trading strategies are just too involved for many people to follow. Elliott Waves are a good example of this. I really admire traders who can trade this strategy successfully, but I find counting the waves to be WAY too confusing and arbitrary.

The best forex trading strategy I've come to learn is price action. It's as old as the market itself, and it amazes me how many people disregard it. Traders like Jesse Livermore made millions of dollars at the turn of the 20th century on the floor of the stock market, just by paying attention to the price movement of stocks.

The amazing thing is that the concept is the same even 100+ years later. Although we have all of the state of the art technology at our disposal, all you ever need is a simple bar chart, and the ability to pay attention to the price movement.

It's amazing how simple trading is once you break it down to its most basic core. If everyone had a less is more type of philosophy when it comes to trading, people would be seeing a lot more success.

By: Miles Birmingham

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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. He developed his own course, called Trading in the Buff, where he teaches traders how to properly learn price action.