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Oct. 4, 2009 - PRLog -- You have to understand the basics of trading.  You can do this by grasping the theorem of price action.  The currency market ( more than any other market ) has these kind of price action patterns that repeat themselves continually.  I suspect that most people that have heard of price action, and yet have never traded it, were doubtless intimidated with the idea.  They do not want to consider WHY they should be purchasing or selling.  You want to really be ready to "analyze" the market thru your own eyes.  Let's look at this simple Forex trading strategy for success. Yes it is, so why do most beginner traders ignore this way of trading?  The issue they have is mindset, when they see the break occur, they believe prices are going higher but think "I better wait for a pullback so I will get in at a "better price" this naturally is a massive mistake!  

When the best breakouts happen, they do not pullback and the amateur trader watches as the price carries on making thousands of greenbacks and he is's simply not in it.  Your stop is clear and tight, just below the breakout level, giving you low risk and then you wait for the trend to unfold and hold it.  To do breakout trading you only need to watch support and resistance and use a couple of momentum indicators, to time your move and you have a straightforward Forex trading strategy, for triple digit profits.  So learn the strategy the millionaire traders use - trade breakouts and get on the path to a great 2nd earnings in 30 minutes a day, its straightforward to learn and is a methodology which will always work. You can get more info about Functions Of Forex Market and Forex Trader Reviews at our site.  

Other basics that I used included using such indicators like MACD, Fibonacci and RSI to help me evaluate the market and predict price movement.  I experimented with quite a few Forex signal providers and found a reliable FOREX charting software package that provided superb signals.  A signal supplier was such a great fit for me that soon, I had a stable flow of cash coming from the currency market and I opened another account.  Then, I conducted a trade when the market increased by seven pips from its current cost.  Be certain to set a stop-loss at ten pips above or below this price .  The trick to this method is executing the trade at the right time and disciplining yourself to keep your stop-loss terribly tight,eg making it no more than ten pips.  This method has worked successfully for me for virtually six months.  

If you make the trade too early or too late, you could fail to predict the direction of the market and lose money.  seriously, gaining around 30-50 pips with the safety of a loss of only 10 pips.  Then, find a good forex signal provider and watch the news to predict the precise moment to execute your trade.  Most traders don't trade breakouts but always remember - most traders lose!  So why do most traders ignore this technique of trading?  The reason these traders do not buy breakouts is actually because they think the myth that to earn income you must buy low and sell high and they try and predict turns in the market.  Breakout trading simply trades the actuality of price change and most traders can't do this.  The percentages are high when a good breakout happens, of the trend continuing and that's why its such a way to trade.

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