Best Forex Trading Strategy
If you are looking for a Forex trading strategy which can make you big profits in around 15 minutes per day then, the strategy we will look at here is for you. Even better news is this trading method is very simple to understand and can be learned quickly, so lets take a look at it.
If you want to make money in currency trading, you should focus on the big trends which last for many weeks or even months and if you do, you will spend less effort on your Forex trading strategy and make bigger profits.
If you want to get in on all the big trends when the odds are on your side, there is a simple Forex trading strategy which will catch them all and its a breakout trading strategy. If a currency is bullish it will start by breaking through overhead chart resistance and continue doing so, as the trend evolves and develops. Best Forex Trading Strategy
You can look at a chart and see this is true in ANY currency pair, so if you buy breaks of valid resistance levels, not only will you have the odds on your side, you will make a lot of money. Obviously, not every breakout follows through in the direction of the break, so you need to decide the best breakouts to trade. The criteria for getting in on breakouts I use is – look for six or more tests before the break and check at least two of the tests, are spaced apart by at least six weeks.
The more times a level has been tested and the further apart the tests are in terms of time, the higher the odds of the breakout being a good one.
Another point to keep in mind is if you have a breakout to the upside and the news and other traders are bearish, the better the breakout is likely to be. If you think about it this is logical – the majority of traders lose money, so being in the minority is good.
Breakout trading can be learned by anyone and all you need to do is to look at chart resistance and use a few confirming indicators, to check price momentum is on your side and your all set for big gains with this Forex trading strategy.
Many traders think the way to make money is to buy “low and sell high” but to buy a low, you need to predict where it might be and that’s doomed to failure. Breakout trading allows you to buy the move when its been confirmed with no guessing and is the method the professional traders use. So if you want to make money in Forex “buy high and sell higher” and you will make a great income in just 30 minutes a day or less. Best Forex Trading Strategy