The Best Currency Trading Strategy

In my opinion, the best currency trading strategy is, sadly, a strategy that is extremely underused. Ironically it's also one of the oldest trading methods around. I'm talking about trading with price action. It's as old as the stock market itself. If you don't believe me, just research traders like Jesse Livermore. He was a floor trader during the beginning of the 20th century. He became a millionaire trader (much more difficult at that time) just by following the price movement of the underlying stocks that he traded.

I know what you are going to say. "The technology has changed." I don't disagree, but just because the technology has improved, doesn't mean that the concept has changed. In fact, I think it''s a double edged sword. Sure, technology is amazing, but quite frankly I think it has made a lot of traders quite lazy.

Instead of traders taking the time to learn the correct ways of trading, they just want to take the shortcut. For example, when you look at a lot of traders, they flood their charts with indicators. This is a sign of laziness. Instead of trying to interpret the markets for themselves, they use these indicators for that purpose. Ask yourself if a famous trader like Jesse Livermore would have used indicators like stochastics, MACD, RSI, etc... What do you think????

When you have indicators telling you when to buy and sell, then you are not really part of the equation. You might as well just be using a forex trading robot.

When you take the initiative to truly learn technical analysis and price action, you can truly call yourself a trader.