Trading In The Buff Review
For some of you who have been trading a while, and have gotten used to trading with MACD, stochastics, RSI, and who knows what else, this may be a little strange and uncomfortable, but it can most definitely have a positive change on your forex trading.
This lens covers what I used so I could start trading without indicators. To truly get a complete grasp on what its like trading solely with price action, I strongly recommend using the Trading In The Buff by John Templeton.
John Templeton may not be a household name but he is the greatest trader I have ever come across and his teaching style is very user friendly.
So if you're willing to think outside the box and not copy what every other unsuccessful trader you know does, this could be your first step into seeing the forex market with brand new eyes.
Contents at a Glance
Here's my favorite link:
Why is Trading Without Indicators So Important?
Well, by far, the single hardest thing for unsuccessful traders to overcome is that they just don't have a full understanding of the market. They are probably trading based on some kind of lagging indicator(s). Their system usually relies on something like "I'll buy or sell once all these indicators are aligned". I'm NOT knocking it. I actually used to trade this way. But after taking so many losses, I figured maybe I'm not looking at this the right way.
After all, can you honestly say that you understand what the market is doing when all you are doing is looking at some kind of indicator that is telling you WHAT HAS ALREADY HAPPENED? Of course not!!!!
NEWSFLASH: The market could care less what the stochastics are telling you. It serves absolutely no purpose, and I can prove it. It's real simple. How many successful traders in the world do you know that just look at a stochastics indicator to let them know what the market is doing? I frankly haven't heard of too many. But if you really study the most famous traders in the world, you'll know that the majority care about three things: PRICE ACTION PRICE ACTION PRICE ACTION!!!!
They all might not use price action the same manner, but you can bet that every trade is derived from what the activity of the market prices are telling the trader. It doesn't matter if its stocks, bonds,e-minis, derivatives, whatever...... It all comes down to how the prices are moving.
And to be honest, there isn't that much separating the million dollar traders from the traders who blow up their account in a matter of a week. It's not like the incredibly successful traders are a whole lot brighter than the struggling traders. Its not as if they graduated Magna Cum Laude from Harvard with a major in forex trading. Truthfully, many of them hardly even finished high school. So intelligence, or lack there of isn't an obstacle.
The rich enjoy trading success simply because they are able to look at a chart and they are able to read and understand what its telling them, much like a book. They understand why a price goes or stops at a certain level. Basically, they can comprehend what it is that they are looking at. Its not just a bunch of colors and sticks on a screen. It means a whole lot more than that. It represents information that can be used to become a full time trader. The closest comparison that I can make is when a person is trying to understand the plays of Shakespeare. The language is English, but its a little hard to follow. But if you can look at it from a different perspective, then the light bulb clicks and once you get it, YOU GOT IT FOREVER. You'll be quoting Hamlet before you know it.
Its not really difficult. Anybody can understand price action. Its just that most people don't want to take the time to really understand how to read the energies of the market. Everybody always wants that holy grail or magical indicator that people can just plug into their trading platform and it'll do all the work for you. Well, it doesn't work like that. It would be a great if it did, but it doesn't. I had to learn that the hard way. But, as is life, you live and you learn.
The tough part is getting somebody to actually teach you how to see the market from this kind of perspective. It's difficult learning it for yourself. If it were, we'd all be millionaires. Most of the time all you need is a little bit of information and some time to digest that information, and BAM! you're off and running.
Thankfully I was able to find Trading in The Buff by John Templeton. When I saw the sales page, I though "ok, it looks good but how do I know if its legit". I've been burned many times before (as I'm sure some of you have) so it's hard to distinguish the valuable information from all the crap that is being sold out there. But I saw that he had an unconditional money back guarantee. No questions asked. I figured "why the heck not? I'll demo it and see if it I like it. If not, oh well I'll just move on to the next thing."
But something interesting happened. I realized everything I need is right IN FRONT OF ME. I just have to eliminate all the crap that's blocking my view. I used to trade with sctochs, FIBOs, Moving averages. It turned out to be the last forex training I'd ever need (It feels really good to say that). I thought I would be wandering around aimlessly from one system to another for as long as I live, or until I was dead broke, which ever came first. But, eventually I just found out that less is more. Not until you see the market's movement in all its glory with no interference, then you can't really say "I am a trader".
Reader Feedback
rydigga wrote
Nice review. I feel that if one masters the psychological aspect of trading everything else will fall into place. Thanks for sharing.
Posted May 18, 2009
rainbowdr wrote
You have put together a great forex resource site. Great writing, keep up the good work. I have learned a lot from quality sites like yours.
Thanks,
Brian
Posted April 03, 2009
rahulgupta11283 wrote
Forex trading sounds like an ideal product for someone like me who is fairly new at the market. Thank you for this information. You have made it much clearer for me. I will try your method.
Posted September 16, 2008
branka wrote
This was very helpful information i am just a beginer but i have learned something today, nice article
Posted September 12, 2008
expertpalu wrote
Good article on Forex Trading. People are using those conventional indicative system for trading. Good that you have informed us about forex trading without indicators. This seems to be quite interesting phenomena. Worth looking at it.
Posted September 10, 2008
cdbulloc wrote
What a great site! I had no idea that I could trade so easily. I recommend this and will recommend it on my own blog!
Posted August 03, 2008
MrTicket wrote
Thanks for the info on Forex! I've been working with trading stocks for a few years, but I'm more interested than ever about learning Forex. Trading this product looks much more dependable than trading individual stocks.
Posted August 03, 2008
Caseyfern wrote
Informative - I'd add it to the Soup once you've followed the instructions on the entry requirements.
Posted August 03, 2008
cmw4562 wrote
Interesting and informative lens on the Forex Trading Machine. For me, Forex trading has been like learning a foreign language, a very difficult subject. Your lens has simplified the understanding of forex trading.
Posted July 30, 2008
bgraceyy wrote
I am new to trading, some of my friends turned me on to it. This article is very informative and I found it to be a great resource!
Posted July 27, 2008
gforceann wrote
Awsome lens,all just great imformation i learn alot form it, tips you put here make it's so easy do trading in forex now i am thinking if i should try forex as well may be i can hit it big with all the info. i got from here..
Posted July 27, 2008
leapinlanguage wrote
LOVE this lens. I could not agree with you more. You basically covered everything that I agree with when it comes to forex trading. It took me a while to figure it out too. I must have spent a whole year wasting my time trying to find the holy grail with those "special" indicators. I finally said this is stupid. They just did more harm than good. I got rid of all of them and I haven't looked back since.
Anyways, just came across this and just wanted to say RIGHT ON!
Posted July 25, 2008
edz411 wrote
FIrst of all, nice lens. This page is great, i came to it from a referal, but i'll be back everyday.*****
Posted July 24, 2008
snunez87 wrote
Wow! Great information and reader-friendly. Easy to read and understand. I felt like someon sat infront me and explained it all. Wonderful Lens!
Posted July 22, 2008
newattitude wrote
Very informative and interesting information. A different perspective on forex trading
Posted July 22, 2008
so wrote
Thank you for providing such detailed information! Forex seems to be a very successful way to manage trading from the comfort of your home.
Posted July 22, 2008
historytrivia wrote
Wow! I never thought trading would be so complicated. I alway thought that I should follow along with what most investors invest in. After reading this I think I should read the newspaper, books, and get forex trading machine.
Posted July 21, 2008
cheri352 wrote
Wow, what a very infomative lens for beginner traders like me! Thank you for sharing!
Posted July 21, 2008
cotton0821 wrote
Good lens. I have always found forex trading to be rather confusing. You have cleared it up a lot. It makes more sense to me.
Posted July 21, 2008
dj2sharp wrote
You hit the nail on the head with this lens and product. Investors in all markets trade as a reaction to what has already happened on the market, when they should be looking at the picture as a whole as seeing if the market has potential to rise in the future (whether or not the history shows a decline). I will definitley be taking a look deeper into the Forex trading machine.
Posted July 21, 2008
MusedInspiration wrote
I do not have alot of experience or knowledge in this area. However, reading just the first two paragraphs gave me an insight, your words are easily processed , and has given me a chance to a better understanding.
Posted July 20, 2008
cangel wrote
I am not involved directly in trading but I do have money in moneymarkets. Your lens helped me understand some of the process that smart people should use when working the market. Your idea of looking at the future instead of the past is excellent. Maybe that should be a mantra for all financial choices.
Posted July 18, 2008
pennyheaven wrote
Great lens! I finally learned how to trade with price action and my trading has vastly improved! I'm finished demoing and I'm trading live first thing Monday morning. Thanks Again!
Posted July 17, 2008
rrobinson wrote
I found this article to be very useful in my pursuit to financial success. Please keep up the good work
Posted July 17, 2008
hbmarsh wrote
I enjoyed your article. You sound experienced, and you have a real passion for trading. Forex must be a very effective tool for learning the market. I find the market confusing, too - it seems so complex. Thanks for your helpful article.
Posted July 16, 2008
kaki wrote
Great information. Nice article.
Posted July 15, 2008
Sweetmomu wrote
You seem so enthusiastic, which is rare in this down economy. You have piqued my interest in Forex trading, and I'll definitely check it out further. Thanks!
Posted July 15, 2008
apirog23 wrote
It really is great, simply a relief to the typical trading experience. Like starting fresh and new each day
Posted July 09, 2008
ghpc351 wrote
Thanks for the article. I am new to Forex and every bit I can read really helps. I am slowing moving up the learning curve.
Posted July 08, 2008
ghpc351 wrote
Thanks for the article. I am new to Forex and every bit I can read really helps. I am slowing moving up the learning curve.
Posted July 08, 2008
taunate wrote
I've never been really interested in trading til my mother in law started with Forex. I picked it up really quickly as she did. No regrets, we love it!
Posted July 08, 2008
FourMutts wrote
I have been interested in forex for some time now and this particular system looks interesting. Great job on the lens I look forward to updates. 5 stars!
Posted July 08, 2008
pamnert8 wrote
I am trying to find any way I can to earn more income with this bad economy. It's troubling. I would invest more if I was not so worried about losing more than I earn. Forex trading sounds like an ideal product for someone like me who is fairly new at the market.
Posted July 08, 2008
reo1963 wrote
Thank you for this information. I will investigate the Forex Trading Machine further.
Posted July 07, 2008
Pamnert wrote
I am interested in research Forex Trading Machine by Avi Frister which you recommend. Any trader who has a user-friendly teaching style definitely deserves looking into. Thanks for the great information here.
Posted July 06, 2008
mikruff69 wrote
great information, and a well-made lens. I'll be watching for more information
Posted July 06, 2008
cotton0821 wrote
I have always found Forex trading a very confusing subject. You have made it much clearer for me. I will try your method.Thank you.
Posted July 05, 2008
carlycoo wrote
Forex trading is a wonderful thing for anyone wanting to explore the market. definately legit and fantastic
Posted July 03, 2008
dougan321 wrote
Money is on everyone's mind these days. The economy is slumping and many people are worrying about the market. They want to invest but are worried they won't get back what the start with. Forex trading is a great tip for anyone who wants to venture the market. Use it wisely.
Posted June 30, 2008
LizzyCake wrote
Fantastic information, and a well-made lens. I'll be watching for more info!
Posted June 30, 2008
