Forex Trading Strategies- Which is the Right One for Me

There are certainly no shortage of forex trading strategies that are out there. It seems everywhere you turn, there is a new strategy being revealed onto the public. The problem that I have with most of them is the fact that they are so reliant on trading indicators. This is why so many people are failing to make money with forex trading. instead of looking inwardly, they rely strictly on these lagging indicators are saying.
For example, let's take a look at a strategy like trading moving average crossovers. This is fairly common strategy that many newbie traders like to use. It usually entails putting a couple of estimated moving averages (EMA) on their trading charts and buying when the averages cross each other upwardly or selling when the moving averages cross downwardly.
Another kind of strategy that's also popular is trading with stochastics. Most traders like to use these indicators as a way to buy when the market is oversold or sell when the market is overbought,
Again, the problem with these ideas is that they are based all on lagging information. These indicator driven trading strategies are all based on lagging information. So, this essentially means that traders are basically looking at what has already happened instead of what is currently happening.
If you really want to look at a forex trading strategy that will give you insight into what is really happening in the market, then I strongly suggest that you get a deeper understanding of price action.
John Templeton has been a successful forex trader after learning how to trade forex. 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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