Forex Trading Method - The Easy Way to Make Triple Digit FX Gains in 30 Minutes a Day
Forex Trading Method - The Easy Way to Make Triple Digit FX Gains in 30 Minutes a Day
In this article we are going to look at a Forex trading method which makes big gains, takes a few weeks to master and also has very easy to understand logic. Let's look at the easy way to make Forex profits in more detail.
Pull up any currency chart and if you look at it closely, you will see how all the biggest trends start and continue and its by breaking through overhead resistance and trading to a new market high. Now, this is a proven fact but do most traders buy breakouts? No they don't and before we look at how to make money from this method, lets see why the pro traders use this method and the vast majority of losers don't.
The problem most traders have in buying a breakout is their conditioned in their mind to want to buy low and sell high and this causes them to miss all the big profitable trades.
They want to be in right at the turn of the market and when a breakout has occurred, they have missed the start of the trend so what they do? They decide to wait for a dip and then get on board and get in near the low but the market is not that generous!
The professional trader, just buys the break of resistance and while he missed the turn, he knows if the breakout is a good one, he will still make a lot of profit and is only concerned with trading the odds and making big profits, NOT being perfect in his market timing.
So how do you trade breakouts?
First look for levels of resistance which have held in the past and been tested several times and look for at least six tests and when the price is trading near resistance place a buy order right above resistance.
When the level breaks your in the market, place your stop below the level which has broken so you have a tight stop and wait - if the breakout is a good one, you could be on a trend which lasts for weeks which gives you huge gains.
If you adopt the right mindset and simply buy the best breakouts, you can make a lot of money. If you focus on only levels which have been tested 6 times or more, you won't trade much but when you do, you will be in on the high odds trades and that means great long term profits, in just 30 minutes a day. Affix Memorable Days of Your Life with Golden Triangle Tour Summer Brings Fun Parties Rocket French Review Enjoy Your Trip through Corbett with Taj Mahal Tour Comprehensive Guide Regarding Reduction & Excursion Trips While Boarding Airlines For Baltimore Travel Points Relative To Mileage Packages Combined With Grand Seating For Flights To Baltimore Accommodation In Saint Petersburg For Foreign Tourists Travel Guidance On Holidays Concessions Along With Comfortable Trips On Planes For Baltimore Nutrisystem Celebrity Spokespersons: Do You Need To Be A Celebrity (Or To Be Famous) To Have Success On Nutrisystem? Navarre Beach Rentals Latest Steps To Save Funds On Trip Charges To City Vegas And Escape The Cold Packing glass and china for Australia Horse Racing In Australia And Its Future