Look, there are seemingly thousands of forex trading techniques. Just go visit one of the dozens of forex forums online, and you'll see what I am talking about. The problem is that the vast majority of the techniques that you find on these forums consist of using indicators.
When it comes to indicators, I am not going to say that you can't have success, but I am going to say that you are only making it harder on yourself.
The underlying problem with indicators is that it gives traders the impression that they are actually getting some kind of insight as to what the market. I hate to be a downer, but that's not actually what's happening. All they are doing is trading based on what a bunch of arbitrary lines and colors are doing. That's not what trading is supposed to be about. If a child can do that, then you are NOT trading.
If you want to know what's really happening on in the market, then I strongly encourage that you look at (my opinion) the best and (ironically) oldest trading technique. It's called price action. For whatever the reason, price action has become a lost form. I guess that's part of the indicator-crazed world we live in currently.
All you need to do is look at the history of trading. Famous stock traders like Jesse Livermore became filthy rich in the early 1900s just trading based on the movement of the market. Believe it or not, there hasn't been a lot that has changed since then.
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. You too could trade forex the right way.
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