If I had to pick one forex trading technique above all else to learn, it would have to be price action. The reason I am saying this, is just look at the history of the famous technical traders of all time. if you read up on them, you'll know that price action is what they used.
Obviously price action means different things for different people, but the basic gist is that you can look at price movement and predict where the future of the market price is ahead.
Obviously there are other things involved, especially understanding fundamental analysis, among others. But as far as technical traders, price action is key.
Many traders really never get this far, as they get caught up with all the flashy indicators that they can play with on a forex trading platform.
I know that when I first learned about forex trading I must have tried every single toy that was on the software. I mean, I tried everything from Gann lines, stochastics, Bill Williams, MACD, price divergence, and everything else in between.
If you were able to make money using these tools, I salute you, because not too many people can.
The moment I realized that all I ever needed was to understand price movement. It was like I was using these indicators and systems to teach me the language of the market instead of learning the language myself. I implore all struggling traders to make their trading a little easier. Learn the forex trading technique of price action for yourself and see what the market has been trying to tell you all this time.
John Templeton has been a successful forex trader after learning the forex trading technique. of price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.
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