Of you are looking for Forex trading strategies for success, then the one enclosed is one that most traders ignore, despite the fact it works and many of the world's top traders use it - let's look at it in detail and see how it can lead you to Forex trading success.
The strategy is based upon simple facts about Forex price movement which are...
Currency markets trend and move in a sustained direction for long periods and these big trends can make you a lot of money, if you trade them with leverage on your side. So how do you get in on these trends? The answer is simple and a close look at any currency pair, will show you how a bullish currency trend starts and continues...
They break new chart highs so, if you focus on getting into the big trends, via breakouts and holding them, you can make a lot of money. While this sounds a simple, the losing majority of traders, simply cannot trade these breaks.
In their mind, they feel they have missed the start of the move and want to wait for a dip back to the breakout point this logic is wrong!
If you look at the best breakouts they don't come back, they carry and the trader who waits for the dip back misses a great trading opportunity.
Of course, not every break to new chart highs continues, so you have to look to trade levels which have been tested a few times before the breakout occurs, by a few, I mean at least six or more.
These levels will be considered important by the market and when they break, the supply and demand situation will have changed and the odds of a continuation of the break are good.
You will get a few good breakouts each month and there enough to make you a lot of money if you get into them and hold them.
Breakout trading works and many of the top traders use this method and while it appears you have missed the start of the trend ( which of course you have) you can't predict that anyway, so simply, focus on how much profit will be ahead of you as the trend develops!
Breakout trading, is ignored by most traders but its a proven way to make huge profits, so try it and you will have one of the best Forex trading strategies for success and be in the company of some of the world's best traders who use this method to enjoy Forex success.
Forex Trading Strategies For Success - A Simple One the Pro's Use For Huge Gains
Thursday, September 17, 2009
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