The question posed in the title of this article really needs to be addressed and asked: has John Templeton's formula (for using price actions to determine successful currency trading) ever consistently failed? And the answer is: No. Not so. Not all the years there he was markets in which to trade. In fact, this is what many, if not most, successful professional forex traders use as their primary guideline to find successful trading opportunities.
According to John, if you are looking for a trading robot (also known as "expert advisers" or EAs) to help you trade in the forex market, you are sorting the wrong tree when it comes to finding bargains. "The trading markets are too complex to let a robot do the trading for you." There are too many variables that can come into play for any self-respecting forex trader to allow a robot to trade for it. Plus, it just doesn't make sense, at least with the data that most of these robots are programmed to collect and decrypt. In other words, the data they are considering and decrypting are not always data that can be used.
And what about those who trade using "special indicators?" Special indicators are interesting in theory; and they certainly make an intriguing selling point for those who sell currency trading strategies based on the use of these metrics. However, they only tell you what's up already happened. They show a trend that is already halfway through its life cycle. But they are certainly unable to predict where the market will likely go much longer. And by the time you enter your trade using these metrics, you have already lost half of the profit you received could, maybe do. So, what good is that!
Let's look at an indicator like stochastic. According to the so-called "experts", this indicator aims to show you when the market is over-sold or over-bought. But how does this apply to the forex market, where what you buy is one currency against another and not product-oriented shares competing with similar product-oriented stocks? As John asks, "Just because this indicator tells you that a currency is over-bought or resold, does that really mean it's time to buy or sell?" The foreign exchange market is a different animal from traditional investment in commodities or commodities.
John sees himself as a tech trader who focuses on a price action laser beam, which is why he declares all these ghostly theorems for investing in the foreign exchange market. "Once traders can get rid of this type of thinking and start focusing on what's important to the tech trader, which is the price movement, then you can start calling yourself a trader." Finding potential profit deals based on price movements or price actions is what John is learning material Buffet Trading learn.
And he's not just making a move for his forex product; he says from experience: "When I first started trading forex I had to get lumps like any other. I bought one gadget after another. And after all, it became obvious to me. No gadget would do the job for me . I would not be able to push a button and become a millionaire. "
Instead, he bowed and began to study the only forex trading signals he needed to give him a guide on which currency pairs to invest: price movements. The currencies you invest in vary depending on market conditions, which are always in flux. Market conditions will change depending on whether it is a changing market or a trend. But you need to be able to look at the bare stats and know what you are looking at to be able to understand what is happening at the moment.
Fashion forex trading systems will come and go just like any other fad trading. However, if you really want to trade money in the foreign exchange market, you better pay attention to the basics. And that means looking at price actions and the basics that drive price action. That's where the actual data is.