Forex Trading Strategy Planning
Forex trading can be made easy, if you get the right education and here we will give
you a simple strategy which the pro traders use to make money and you can too. Anyone can learn it so lets look at it in further detail.Firstly, forget all about the idea of buying low or selling high it doesn't work in the real world of forex trading - the best way to trade is to buy breakouts to new highs or lows. Most big trends start from these breakouts and the odds are in your favour.
It is simple to understand, that the more specialized investing and trading techniques you can put under your belt, the more money you're going to make in the long run. There is a reason the professional FX investors make so much money, they KNOW more than the rest of us.
The comprehension of a Forex trading strategy that is a proven money maker for extended periods is all you need to move into the top tax bracket. While, most of us don't necessarily like paying enormous amounts of taxes, I am sure in this case you will tolerate this compulsory evil. My move into this predicament was created when I discovered and perfected the use of Forex Scalping.
The first forex trading strategy, called the Primary Style of scalping, occurs when the trader (or scalper) participates in many trades each day. These scalps can be as little as ten or more than hundreds of trades each day. This forex trading strategy requires you to rely on shorter periods such as one-minute intervals, which allows you to see the action as it unfolds.
Remember, the five percent return is in one day, not a week, month or year. So, it is quite possible, if not probable to double your initial investment in less than one month. It has been around for so long for a good reason, it works great. And working great in this industry can only mean one thing, it is a money maker.
It's a known fact that simple systems work better than complicated ones, as there are less elements to break and they are more robust.
You don't get paid for effort in currency trading you get paid for being right.
You need to be selective on the breakouts you buy and the more times a level has been tested the better and the wider the spaces in time between these tests the more valid the breakout will be. Look for levels other traders and analysts consider important and when these levels break, great trends can develop and that means big profits.
Cover short positions and reverse to a long position when a price exceeds the highs of the previous 4 weeks. Close long positions and reverse to a short position when a price falls below the lows of the previous 4 weeks.
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