Finance & Investment Articles - Forex Trading Strategies For Success - The Best Strategy For Triple Digit Gains

by KELLY PRICE - Date: 2009-10-20 - Word Count: 452 Share This!

If you are looking for a simple, timeless way to make money at Forex trading, you will love the enclosed strategy. The Forex trading strategy we will look at here is simple to understand and have confidence in and can give you a triple digit income, let's take a look at the strategy.

Currency markets trend for weeks or months on end and if you can get in on these trends you can of course run them for huge profits but how do you get into them?

Most traders think that you need to predict and try and pick market tops and bottoms but this method doesn't work and it's obvious why, as prediction is really just hoping and guessing and this simply leads to losses. If you want to get into the big trends, the way to do it is simple and its this:

All bullish currencies start trending by breaking to new market highs and they continue there trends in this way, so the way to trade is to simply buy these breakouts. Most traders who lose see breakouts and know the trend is turning bullish but they can't get in the market because they want a better price and want to wait for a dip to get on board but the best breakouts don't pullback, they sail over the horizon and the trader who waits misses a great trend and a great profit.

The pro trader, knows he has missed the exact low of the market but this doesn't concern him, because he has the odds on his side and knows that if the breakout is a good one, there is a lot of profit ahead and that's all that matters.

When trading breakouts, all you need to do is look for strong levels which have been tested a few times ( the more times the better) and wait for them to break and buy. Your stop loss goes under the breakout point which gives you low risk and then you wait for the move to unfold.

Breakout trading is very simple and all the best Forex trading strategies are and this one makes a lot of money. Anyone can become a breakout trader and make triple digit gains and in part two ofd this article series on breakout trading, we will look at some indicators you can add into your breakout strategy, to make it even more profitable.

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Related Tags: forex trading, forex trading strategy, trading strategies, forex trading strategies, online forex trade

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