Forex Trading Strategy - Catch Every Major Trend With This Simple Method!
Here we will look at the Forex trading method the real pros use to make money at FX trading, and you can use it too. The method we will look at is simple to understand and can make you triple digit profits, in just 30 minutes a day; let's take a look at the method in more detail.
There is a huge industry online which sells the message that Forex prices can be predicted in advance and that cheap Forex robots or scientific systems can beat the market. These systems promise you an income for life for a hundred Dollars or so but its obvious they don't work because if they did, everyone would be trading and 95% of traders wouldn't lose, the fact is Forex markets cannot be predicted - period.
So if Forex Markets Cannot be Predicted how do You Make Money?
The answer is simple - you trade the odds and that means you trade high odds chart set ups and the one this simple Forex trading strategy is based on is the way every new big bullish trend starts and continues and that's by breaking to new chart highs.
Look at any currency and you will see, this is the way trends start and continue - so all you need to do is to buy good breakouts and you have the odds of success on your side and can make some great profits.
Which Breakouts are the Best ones to Buy?
What you need to do is to look for several tests before the breakout where the resistance line has held and its the more times the level has been tested and held, the better the odds of success when the breakout finally does punch through the level. You should also as a general rule, look for two of the tests to be a month or two apart in terms of time. The wider the time frame between the tests, the better the odds are of the break of resistance, being a good one.
Breakout Trading WILL Always work
As long as markets trend, you can trade breakouts and while the strategy is simple, it makes a lot of money. Risk is low, because your stop, is put in just before the level has broken and as the best breakouts can yield trends that can last for many weeks the profit potential is excellent.
You can base your breakout trading strategy on just looking at resistance levels and looking for them to break and use a few trading indicators to time your move by checking price momentum is in your favour and you will have a trading strategy which can make triple digit gains in around 30 minutes a day.