• What is the best forex trading strategy?
The best forex trading strategy is one that will give you the potential to consistently make money in the forex market while not requiring you to spend countless hours staring at and over-analyzing your charts. There are many different strategies that can be used to trade the forex market with, and different people find success with different strategies, so it is a difficult proposition to say that XYZ trading strategy is the absolute best.
That being said, there are certainly some forex trading strategies that you will want to steer clear of. Those strategies that require you to over-lay numerous lagging indicators all over your charts are typically too complicated for their own good. Simply put, there is really no need to try and make sense out of multiple price-lagging indicators when you can learn to trade more effectively from much less complicated strategies.
• Simple forex strategies.
Many beginning forex traders completely overlook the simplest of trading strategies because they erroneously assume that to make a lot of money in the market you must be super smart or spend a thousand dollars on some trading software program. The fact of the matter is that simple forex strategies are usually what professional traders use, and the reason for this is because success in the markets is mainly a function of self-discipline and mental objectivity. The reason why so many newbie traders focus on complicated strategies is simply because they have not yet figured out or accepted the fact that to succeed in the markets you need to simply master your own emotional impulses.
Learning to trade off a simple price chart by Japanese candlestick patterns or perhaps by simple pullbacks to support and resistance levels are both strategies that can make you a ton of money. Once you learn a few basic trading strategies, it is then time to really get down to business and work on your mindset if you really want to profit handsomely in the forex market. So, the first step in finding the best forex trading strategy for you is to accept that you DO NOT need to learn about a thousand different indicators or spend a thousand dollars on some fancy sounding forex trading robot. You do still need a solid back ground in the basic principles of technical chart analysis, but such an education is widely available from various sources on the internet for free or for much less than most overly-complicated trading systems or strategies out there.
• Where can I find an effective yet simple Forex trading strategy?
Nial Fuller – Founder of arguably the best Forex price action trading website on the internet. Teaching students simple yet effective price action methods is Nial’s main objective. Learn more about him here: Forex trading course.