There are hundreds of ways to trade Forex. Some of these strategies are extremely lucrative. But many are barely worth the paper they written on.
The best way to consistently profit from Forex is to pick the right strategy for the market conditions. Stagnant markets require a specific strategy. Volatile markets require a completely different approach.
If you read the forums and Forex trading blogs, you might think that there are only one or two profitable trading strategies out there.
That’s not true! There is a trading strategy that makes 10-15+pips a trade while using proven trading strategies.
It’s not your fault that you haven’t heard about it. In fact, many of the professional traders hope that you never will.
Today is your lucky day because you’ll learn this new strategy and get the opportunity to start making money with it in your next trading session.
Psychology dictates markets. Currency prices reflect market sentiment and habits just like other equity markets. The best traders bet on the market – staying the same.
Using strategies that exploit the market’s natural resistance to change is a smart way to quickly rack up profitable trades.
The most critical trend trading strategy you’ll make is selecting the right entry price. The entry price dictates your take-profit and stop-loss levels, the variables that determine how much money you will make.
Many traders hedge against the wrong entry price by setting tight stops so that they can reboot their trade if the trend moves in the wrong direction.
What often happens is that the trade is stopped out dozens of times per trading session. While the traders reset, the market moves on, making money for someone else.
Frustrated, traders set fewer stops, taking bigger risks. Many times… Read more…