Forex Trading Methods - A Simple Proven Strategy For Huge FX Gains in 30 Minutes a Day!
If you are looking for the best Forex trading methods, then the one enclosed is for you; not only does it make huge gains, it's also very easy to understand and apply and takes just 30 minutes a day - lets look at this Forex method in more detail.
If you want to make really big FX gains, you need to focus on the big trends which can last for many weeks or longer, you will see them on any currency trading chart and you will also notice how any big bullish trend starts - They really big trends all start the same way, breaking through resistance to new highs. This method, is based on trading these breakouts and focusing on the high odds breaks which yield the biggest profits - so how do you spot them?
To establish if a breakout is going to be a profitable one, you need to focus on two criteria, how many times the level has been tested and how far apart, the tests are in terms of duration of time. The more times a level has been tested the better. Six or more tests is a good number to use and make sure a couple of these tests, are 4 weeks apart or more. When the level breaks, its likely to be a good one but there are two other simple tips, you can use to improve profitability on any breakout:
1. If the majority of traders are not looking for a breakout and the news is bearish, the odds are even higher and this is explained by the simple fact that, the majority of traders lose money. If you want to be profitable trader, you need to trade against the 95% of losers when the time is right so, the fact the majority don't agree with you is a good sign.
2. Check some momentum indicators to see that when the price breaks through resistance, price velocity is accelerating as the move occurs. There are a lot of momentum indicators you can use, and they can all be learned quickly; I personally like the RSI, Stochastic and MACD. Just use a couple and don't use to many, I actually only use two, keep your strategy simple and robust.
Once the break is on, put your stop below the breakout point to give you low risk and then sit back and wait for the trend to unfold. Don't make the mistake of trailing your stop to close or you will be stopped out to soon and always remember, the best breakouts can last for many weeks.
As long as markets trend, this method will work and the fact is they do and always will do in a free market economy. You can trade just a few times a month with this method and make triple digit gains on your account - so if you are looking for the best Forex trading methods, look at breakout trading and you will see how easy it is to make big profits in 30 minutes a day.