A Realistic Review Of Forex Trader John Templeton's Trading In The Buff Forex Course

John Templeton, who has been an investor in forex day trading for more than half a decade and who is the author of the Trading in the Buff forex signal system, soon learned that all the complicated methods that traders use to pick a profitable forex trade were only muddying the field for him. "I was basically just an inanimate object waiting for random lines to cross, informing me that I should open or close a trade. Then it dawned on me. How in the world could I make money trading currency exchange, if I don't even comprehend what I am looking at?"

This is when John determined to take the bull by the horns and to reason things out for himself. No more buying into this or that forex system theory. He began by heeding what all the professional traders had to say on the topic. And more than any other expression that came out of their mouths was the phrase "price action." John was so appalled at himself that he could have kicked himself. "It was so obvious, I couldn't believe it."

When it comes to trading the foreign currency market, John concluded that the trader has to make a decision between one of two ways to evaluate the trade: either by using fundamental analysis or using technical analysis. Fundamental analysis takes into consideration all the psychological fundamentals that can act upon a currency's movement in the market. Things like the influence that the non-farm payroll numbers that are released once a month can influence the market, or how raising or lowering interest rates can impact a given currency pair.

When it comes to using technical analysis, this breed of trader considers that opening up the indicator menu on their charting platform will somehow or other convey to them which currency pairs to trade based on how the indicators read. From John's point of view these traders seem to think that -- rather than understanding price movement -- adhering to charts full with lagging indicators such as RSI, MACD, and stochastics will direct them to the right trade to enter. After surviving years of losing trades following this same formula, John is convinced that following this path is a losing cause.

The one technical indicator that most failing modern traders don't utilize is price action. They're all waiting for all their other indicators to match up. For this kind of trader, the only significant thing is what his static indicators are showing him, and price becomes secondary or even irrelevant. The only thing wrong with using lagging indicators like these is that they do not supply the trader a clear vision of what the market is actually doing during a given trading period.

When, for example, you teach yourself to begin contemplating price support and resistance levels, you are being shown actual statistics which are influencing the direction of the market. No lagging indicator will ever give you that kind of knowledge which will last for very long. You have to be able to see it immediately from the market itself. This is what John is attempting to hammer home in his forex trading program Trading in the Buff.

The name of his method refers to the removing of indicator based strategies and returning to basic price action indication. In other words, trading in the buff, without using the theoretical indicator window dressing that many traders are conditioned to base their trading habits on. The theories sound good, but they don't always work.

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