subject: Currency Trading Method - The Strategy The Millionaire Traders Use For Huge Profits! [print this page] Here we will look at a currency trading method the millionaire traders use but despite the fact it works and makes huge gains, most novice traders ignore it but don't let that bother you, most new traders lose. Let's look at this method inn more detail...
this currency trading method is based on, catching and holding the long term trends you can see on any Forex chart which last for weeks in duration or even longer. All these big trends, start and continue in the same way and any bullish currency trend, will start and continue by breaking chart resistance to new highs. Therefore, logically, if you buy these breakouts and hold them, you can get in on the big trend and profits.
We will look at how to do this in a moment but for now, let's see why most traders simply ignore this strategy, despite the fact its great way to make money.
When a breakout to a new high occurs the trend is already in motion and the losing trader won't buy - he wants to buy the low and this method doesn't allow you to do this. The problem for the losing trader is - you can never predict a low, all you can do is guess and that is simply no way to make money in Forex trading. Forex trading, you need to trade the odds and while, when trading breakouts you miss the exact start of the move, it doesn't matter! Your aim is to make money and on breakouts the odds of a continuation of the trend are high and that means a lot of profit as the trend matures.
Buying breakouts is easy but you must be selective, you need a good few tests before the break occurs and ideally, these tests should be spaced at least a few weeks apart. When the level does give way, stops are hit and new buying comes in, sending the price away from the breakout point and into profit. Once the trend is in motion, you simply place your stop under the level of resistance which has broken and sit back, as the trend unfolds and profit builds up.
Breakout trading is logical and easy to understand and you don't have to guess, you simply wait for the market to tell you when to get in. All you need to do is study resistance levels and add a few momentum indicators, to help you time your trading signals and you are on the way to a huge income.
Forget trying to predict Forex markets and trade the odds via breakouts and join the top traders who use this currency trading method to enjoy currency trading success, in around 30 minutes a day or less..
