One issue that derails many amateur Forex traders is called "method complexity syndrome".
After researching a trading method, they buy it and then the moment they get it, they totally ignore many of the core fundamentals and instead go straight to what they think is the "heart" of the method.
By doing this they miss the most vital aspects of the method-- which often includes things such as discipline, risk management, and psychology.
This problem arises from the fact that most amateur traders are looking for the big "secret" that will suddenly make them forex millionaires. Of course, what usually happens is they find out the big secret to making the method work is something they already know (but never actually done) and they leave disappointed. Then they complain that the method is too simple!
The other problem amateur traders create for themselves is over-complicating methods. Rather than accepting that sometimes trading forex really can be very simple, they instead look for complicated combination's of indicators or convoluted formulas... thinking that a trading method MUST be complex to work. Then they complain that the method isn't complicated enough!
Often what then happens is the amateur trader does it over and over again on every method he {comes across|buys| -- not even realizing what he is doing -- and never really learning the basic process of trading.
I urge you not to make these mistakes. The sooner you understand that most trading methods are really very simple, the sooner you will have success at forex trading. You'll see that successful methods use smaller sets of rules as one in a very simple way, and apply them in different or unusual ways to create a simple, yet powerful strategy.
And every successful trading method should be simple to grasp, after all if you can't understand it then you can't apply it!
Always take your time completely learning a new trading method and don't be foolish and jump ahead. Make sure you learn and completely understand the setup, entry and exit rules, learn how to protect your capital using stops, learn how to apply the method in a consistent way, and learn how each part of the method affects the other elements so you can fully leverage your efforts to make the most money possible.
Simple yet Powerful is what you want. You're looking to use just a few rules or indicators, but apply them in unique ways -- that is the key to gaining the edge you need.
