"Most traders ignore the Forex trading strategy enclosed but don't let that bother you the bulk of Forex traders lose but many of the world's top traders use and you can too - it works and will always make big Forex profits, so lets take a look at it.
Most Forex traders think that to win they need to predict where Forex prices are going yo go but this is really just hoping or guessing and they all lose. There has been a huge rise, in cheap predictive Forex software being sold as well which promises you, the software can predict prices in advance but the only thing you can predict with cheap software, is your going to lose!
The pro trader knows, that to win at Forex trading, you don't need to predict to win and if you trade the reality of price change, you will have the odds on your side and can make a lot of money.
Look at a Forex chart and you will see two facts, about Forex price movement which have remained constant since trading began and they are:
Forex markets trend for long periods, of many weeks or even longer and all these big trends, start and continue, from breakouts to new highs on a price chart.
So if you want to get in on all the best trends and profits, all you need to do is buy high odds breakouts to new highs, in a bullish currency and hold the trend.
Sounds simple doesn't it? Most traders can't do it though, when a break occurs, they want to wait for a pullback to get in at a lower or what they consider is a better price but a quick glance, at any good breakout shows that prices don't come back, they carry on piling up huge profits, for the savvy trader who bought the breakout while, the losing trader never gets on board.
When trading breakouts, you need to look for levels that have been tested several times before the break and in breakout trading, the more tests you have and the wider they are spaced apart in time, the higher the odds of a continuation of the trend.
I like at least six tests or double figure tests, before the break as this means, the odds are at their highest in terms of the break continuing. Stop loss protection is easy, just below the level that has broken, so risk is low and if it's a good break the rewards are high.
Forex breakout trading is a simple strategy but all the best Forex trading strategies are simple and if you trade high odds breakouts, you will soon be on the road to a triple digit, annual income in around 30 minutes a day or even less.
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