Here we will look at the best Forex trading strategy for making the biggest possible amounts of profit in the least amount of time and the good news is anyone can master this great method for Forex trading success.
Many traders think they can make money with no effort and buy a cheap Forex robot and lose, while another group think the more they learn and the more often they trade, the more profit they will make and this group is wrong. In Forex trading there are no rewards for hard work or a college education, you get your reward for being right and that means working smart – not hard.
If you want to make the really big profits, forget about scalping and day trading, this is a lot of effort, with the odds against you and instead, focus on the big trends that last weeks or months, these make the big profits and you need to get into them.
The good news is – ALL big trends start and continue, by breaking to new market highs – so buy some good breakouts. With this method you can lock into the big trends and then sit back and wait for the trend to unfold.
Do most novice traders do this?
Of course not – but that really shouldn’t concern you , as most traders lose money. These traders are focused on, predicting exact lows and highs and fail to see, that this is just hoping or guessing and they lose. They refuse to buy breakouts, because the move has started and want a dip in price, to get in the trade but prices don’t come back on the best breakouts and the trade is missed.
Forget about being perfect and what you may have missed and think about, what you could gain by buying these breakouts and if its a good breakout it’s a lot of money!
When buying breakouts be patient and selective, only trade a level other traders or the news says is important, because when the level breaks the breakout will probably continue. Look for a lot of tests ( the more the better) and also look for at least two tests, to be a few weeks apart in terms of timescale. If you do this, when the breakout comes the odds are in your favor.
With this method, you can trade a few times a month and spend just 30 minutes a day working, for a triple digit return and that makes this strategy in my view the best Forex trading strategy. Learn to trade breakouts and you have a quick and easy to learn method which piles up huge gains.
By: Kelly Price
Posts Tagged ‘Robot’
Best Forex Trading Strategy – For Making Big Profits in 30 Minutes a Day!
November 1st, 2009The Best Forex Trading Strategy Used by Forex Experts
January 21st, 2009
All forex experts know that in order to be successful in the forex market, you must have the best forex trading strategy tools to give you an edge. It is also as important that your forex trading strategy must fit your personality. There are some forex traders who trade for a short term position (scalping), while; others are trading for a long term position (hourly, daily, or monthly charts).
Before you enter into a trade, it is important to have a pips goal with limits and stops. Every expert trader understands that the best forex trading strategy is not perfect everytime but it does give you a surplus at the end of the month; if you are willing to give it a chance. It is essential for a forex strategy to have 3 elements to be the best. These three elements are…
1. Resistance Lines – Every forex expert understands the importance of using resistance lines to produce the best forex results. Not, only will resistance lines will prove you with entry and exit to the market, but also provide you with limits and stops. Resistance lines provide with how high the market was willing to go and what lows it has rejected. If a resistance line gets broken, it will provide you with a signal to either go long or short depending on the direction the price action is moving.
2. Price Action Analysis – The forex market respects the currency price, while, the forex indicators and bots don’t. Since, this is a real market with real people trading, they know and see what price is being accepted and rejected. A forex indicator or bot, calculates based on previous market highs or lows and odds of winning. All forex experts know that a forex bot or robot is no different from gambling. In order to succeed in the forex market, you must understand and analyze the price action. Draw an up, down, or straight line to get a better picture on where the market maybe heading.
3. Japanese Candlesticks – One must look at the Japanese candlesticks as more then colors but as the “psychology of the traders”. The Japanese candlesticks provide very important information such as, how are the traders reacting to a certain price, have the traders accepted or rejected the latest movement, and what direction is the forex market moving.
Again, I will recap that in order to have the best forex trading strategy you must have resistance lines on your chart, follow the price action of a currency, and understand the Japanese Candlesticks psychology.
By: Al Habib