This Forex trading strategy is simple to understand, easy to apply and catches the big profits from the really big trends in around 30 minutes a day. Anyone can learn this trading method quickly so let’s take a look at it.

Most traders never focus on the big long term trends but if you look at a Forex chart, there are trends which last for many weeks or months and if you catch these trends, with leverage on your side you can make huge gains.

So how do you get in on these great long term trends?

If you look closely at any currency pair, you will see that most of the big trends start from breakouts to new market highs and they also continue from them.

The way to make money therefore is to get on and hold the big trends, by buying breaks of resistance. It’s simple, its logical and it works but most traders don’t do it, before we look at how to make money at breakout trading, lets see why most traders ignore its profit potential.

The reason is simply most traders are obsessed with predicting the market in advance they want to buy low and sell high. When they see a breakout, they have missed the first part of the move and want to wait for a pullback to get in but the best breakouts don’t pullback and this trader misses the move.

The experienced trader doesn’t care about predicting or missing the start of the move and why would they? The best breakouts continue and pile up big gains, these traders are not interested in perfection, just making money and that of course is the aim of any Forex trader.

So what are good breakouts?

You can trade breakouts of any level which has been tested at least twice but not all breakouts continue in the direction of the break; the ones that do, are the ones which are considered important by the market and these are normally at least six tests, when breakout trading keep in mind the more tests the better.

You will normally get a few good breakouts each month and I know traders, who trade once or twice a month and earn triple digit annual gains and you can too.

Breakout trading is very low risk because your stop is always tight (just below the breakout level) so if your wrong, your out with a small loss and if the trend runs, the profit potential is huge.

Breakout trading can be done without indicators but we like to use a few to confirm price momentum is accelerating as the breakout occurs, to increase the odds of success and we will look at some of these, in the next article in this series.

As long as markets trend, breakout trading will work and make money. It’s so easy to understand and apply, that any trader can quickly put together a breakout trading strategy and make big gains in 30 minutes a day or less.

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Online currency trading is now within reach of anyone who has a computer, an internet connection and a few hundred dollars and here we will outline a simple, timeless currency trading strategy anyone can make big profits with…

If you look at a currency trading chart you will notice currencies trend up or down and these trends can last for many weeks, months or in some instances years.

Now if you can lock into these trends and hold them, with leverage on your side you can make huge gains – so how do you do it?

Look at any currency trading chart and you will see that all the biggest trends start from breaks to new chart highs or lows and they continue from these as well, so if you want to make profits, you should buy or sell breaks of resistance or support.

Breakout trading works because when an important level of resistance or support breaks the odds favour a continuation of the move and the reason is obvious:

Stops are behind these levels and when they are hit traders exit the market pushing the price further away from the breakout point next, technical trading systems are triggered to enter and push the trend further and then the retail investor gets on board and helps the new trend continue.

Its logical and it works but you might be asking what is an important level of resistance or support? Generally, you are looking for a few tests ( a minimum of two) and the more the level has been tested the more important traders will view it. We normally look for six tests or more and when the level gives way, the odds are really in favour of the breakout continuing.

If a level breaks, use some momentum oscillators to confirm that the velocity of price is accelerating and this will increase the odds in your favour even more.

The above all sounds simple ,you may say so why don’t most traders do it?

Most traders simply cannot trade breakouts due to having the wrong mindset; they think they have missed the start of the move ( and of course they have) so they wait for the price to pullback, so they can get in at a better price but as we have seen, this simply doesn’t happen and the trader misses the opportunity.

Breakout trading is easy and the risk reward is excellent, as the stop is just behind the breakout point keeping risk small but the profit potential is huge as big breakouts can give massive returns.

If you are patient and trade the best breakouts and use a simple system, you can soon be piling up triple digit profits in under 30 minutes a day.

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You can find many advices for trading forex provided by traders. Do they deliver profitable trades? It is hard to know till you try it out. It is crazy to see a lot of tips all over the place; this makes it challenging to select a perfect one.

I guess you know you have the choice to create your own trading technique, but the downside of it is that it could exhaust an ample of time and attempt to accomplish, and not everyone is ready for this.

You can see many advices all over the internet. Each of them gives you a specific benefit more than the next one. Every one of them has a similar target; that is to aid you to make gain from your trading. I know some profitable advice which can aid traders to gain from trades they place.

One of those strategies is known to be The Leverage. It gives forex traders the opportunity to utilize more money greater the ones they have lodged in. It gives you, as a trader, the opportunity to make the most out the advantages of trading forex without having to lodge more money. Really, if you use the advice, you will be able to grow your quantity of your deposit a lot of times to give you the access to buy more trades of bigger prices. It is a technique that is easy in general and is mainly utilized by business investors.

The next strategy is the stop loss order. This peculiar technique is made to protect traders’ money by putting a boundary to the buying chance of the same. When the trader reaches its maximum limit, he won’t be able to perform any additional trade. That means you won’t finish your money and you will have more chance to place additional trades using more signals.

Furthermore, you can use the known automatic entry order. It gives you the access to place trades when the direction of the market is amiable. Usually, there is an initial pre-ordination of the value you chose to trade

No matter the kind of advice you select to place, what mainly matters is your method of trading. It is possible for a strategy to gain for you and you could lose using it a second time. It is due to the fact that traders need to make gains using their idea. You can use this, my little strategy, to apply to your day-to-day forex trading and see how it would put a change to the way you trade forex.

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If you want to win at Forex trading, then you should study the story of the turtles. This group of people had no previous trading experience and were taught to trade in just two weeks. They then went on, to make hundreds of millions of dollars. How they did it, is the subject of this article.

The turtle experiment was the brainchild of well known trader Richard Dennis and he simply wanted to prove that anyone could learn to trade regardless of age, education or sex so the group he gathered consisted of a number of diverse characters – A kid just out of high school, a female auditor, a security guard and an actor.

He taught them to trade in two weeks and then gave them each a live trading account. The rest is part of trading history; as they went on to make hundreds of millions of dollars.

This group had a good teacher of course but they learned quickly and achieved huge success and you can learn the following from them as part of Your Forex education.

1. Trading is a learned skill and can be learned quickly

Dennis proved anyone could trade successfully if they had the right education and the story of the turtles, should be an inspiration to any new trader.

2. Simple System are Best

Today, everyone thinks that technology can beat the market but as the ratio of winners to losers, has remained constant for over 100 years, this is not so. The best way to trade Forex markets is with a simple system and the one Dennis taught, was a simple breakout system which followed long term trends. Simple systems are more robust than complex ones and have fewer elements to break in the anarchy that reigns in the Forex markets

3. Money Management is the Foundation Success is Built on

Most traders over leverage their and get wiped out quickly. The turtles were taught to apply rigid money management principles and follow them and above all else, defend core equity. They lost far more trades than they won but because profits were run to there maximum potential and losses cut quickly, they made huge gains over the long term.

4. Discipline the Key to Success

No trader will win without discipline which is simply, the ability to follow your trading system through periods of losses and not deviate from it. This sounds simple but most traders can’t do it; they take losses personally, get angry frustrated, or lose confidence and either deviate from their trading plan or throw in the towel.

Most of the turtles in interviews, said learning the system was the easy b part but following it through losing periods was the hard part and following a trading system is hard for most traders. You can of course get discipline, if you have confidence in what you’re doing and leave your ego behind.

The above trading experiment encouraged me to start trading, as it proved anyone can win at Forex trading and enjoy currency trading success. I hope the experiment inspires you to take look at the exciting and rewarding of trading too.

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There are certain mistakes which the majority of novice traders make and continue to make and they end up losing their account equity. The mistakes are easy to avoid so let’s take a look at them.

The mistakes are in no particular order of importance there all important.

1. Trusting Automated Forex Software

The majority of traders buy cheap Forex robots or Expert Advisors and get wiped out it should be obvious to anyone, that you don’t get a track record better than the world’s top fund managers for the price of a night out. If these robots actually did work 95% of traders wouldn’t lose.

2. Over Leverage

Most brokerage houses will give you 200:1 leverage as standard and seen some that offer 800:1 and most traders think they should use it all and of course this leads to a wipe out. If you are a new trader 20:1 is plenty to use.

3. Trying To Predict Market tops and Bottoms

Prediction is simply hoping or guessing and that won’t help you in Forex trading. The far out investment crowd love the idea that markets move to some higher force but they don’t, if they did there would be no market at all, as we would all know the price in advance! If you want to win at Forex trading, simply trade the reality of price change and don’t guess.

4. Over Trading

Most traders think the more they trade the more they can potentially make but they end up taking low odds trades and lose. The good trades only come a round a few times a month so be patient! I know traders who trade a couple of times a month and make triple digit gains. They don’t work hard, they simply focus on trading the best set ups which offer the biggest profits.

5. Not being able to Trade with Discipline

Is the discipline to follow your system and keep losses. Sounds easy? It’s not.
The reason it’s not easy is because you have to trade through long periods of losses (it happens to all traders) while the market wrong foots you and takes your equity. Most traders get angry or frustrated, let their emotions come into play and start deviating from their system.

If you have good method, it’s actually useless unless you can trade it with discipline. Discipline comes from within and an understanding of your own personality and emotions.

The above mistakes combined wipe out the bulk of new Forex traders but with the right education and mindset there easy to avoid.

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