Forex Trading: A Simple System That?s Very Profitable
I have been giving some live trades to show how a simple system can make big profits and just given 2 live trades and made two great profits.
We did the same last year we did 5 trades live and won on all of them!
Now that does not make me a genius, but I want to share something with you that I have learned over 25 years as a trader.
The Best Methods are SIMPLE
I have tried just about every way of trading from using artificial intelligence to neural networks and some methods overloaded with indicators and I can tell you the best methods are simple.
The method I use is simply this:
1. Look for significant levels of support and resistance
2. Use a breakout methodology
3. Use stochastics to time entry
4. Use Bollinger Bands for targets and RSI as contrary trading indicator
That?s it.
People think the harder they try or work on a method the better it will work but this is not true.
You get nothing extra for effort in the FOREX markets.
There are many smart traders out there who build incredibly complex systems and are dismayed when they collapse in the brutal world of trading.
The problem with complex systems is there are to many elements to break.
My system above works on any market not just currencies and its logic is sound.
It works makes money and only takes 30 minutes or so a day to execute and there is also no intra day monitoring as it works off daily closes..
It Does However Need:
The trader to spot and filter the set ups. This means YOU pull the trigger not a computer.
Many traders don?t like doing this but the fact is:
We can think computers cant and I personally like the responsibility of making the trade. If you want to delegate totally to a computer then this system may not be for you but I am always more comfortable pulling the trigger myself.
So there you have it a simple system that makes money and I have given you the logic and components for free.
I hope you like it and its of as much use to you as it is to me - after 25 Years I am still using it and it is still making money which is what forex trading is all about.
FREE ESSENTIAL TRADER PDF’S AND MUCH MORE On all aspects of becoming a profitable trader including features, downloads and some great FREE Trading PDF’s visit our website at www.net-planet.org/index.html
MOST VIEWED POSTS
-
Online Forex Trading: If You Want To Win Understand Price Momentum
If you want to win at online FOREX Trading you need to understand the importance of price momentum in putting the odds on your side.
If you don?t understand price momentum you will lose.
Let?s look at why it is so important and how to put the odds in your favor.
A common error
Most traders like to [...] -
Chart Forex Trading - How To Use Chart Trading To Profit
Chart forex trading is a favoured method of a number of successful traders on the currency market today for a wide variety of reasons. The title of the method is self-explanatory in itself. Individuals monitor various currencies and trade as and when necessary in accordance with trends and prices. There can be any number of [...]
-
Are You Guilty Of Committing These Flaws In Your Forex Trading? - Part #1
I am hardly surprised when friends and clients tell me that they are not consistent in their winning trades in trading forex. Many times, friends relate their stories of making a giant win in the markets at one time, and then will continue to tell a sad story of losing it all in the next [...]
-
How To Earn Serious Money With Forex
The market
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover.
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of [...] -
Forex Trading: A Simple, Easy Tip To Increase Your Profits
Forex trading is all about getting the odds in your favor to reduce rsik and increase reward.
The simple tip below is ignored by most traders - yet if you include it in your trading plan, will see your risk decrease and profits increase and that?s what all traders want!
Most novice traders don?t use this [...] -
How To Improve Your Knowledge Of Forex
You have determined that it is in your best interest to learn Forex trading.
Understanding the intricacies of how the world currency market works is an excellent way to protect your assets.
If you are not sure how to go about getting into the swing of understanding and monitoring the currency exchange, here are some suggestions [...] -
Currency Trading Systems ? Essential Tips For Choosing One
Using a currency trading system to make profits from online forex trading is an option more traders than ever are considering.
Cheaper and more powerful computers and software, combined with the rise of the Internet have made online currency trading systems within reach of all traders.
The theory is simply buy a system, follow signals, sit [...] -
Forex Trading Applications - How To Use Demos Available For The Beginner
The massive range of choice and the general quality of the technology available will almost certainly confuse anyone that happens to be new to forex trading applications. Knowing where to start can certainly be daunting. Not only do you have to learn the ropes of forex trading, you also need to get to grips with [...]
-
Forex Trading: 4 Common Myths Guaranteed To Make You Lose
I read a lot of good information online to do with forex trading but most of the information I read is rubbish, yet many forex traders believe it. The myths I am going to cover here are mostly spread by so called market gurus and system sellers, so let?s look at them.
First of all before [...] -
Trendline Forex Entry Signal - Two High Probability Setups
A reliable Forex entry signal usually involves a combination of factors which all come together at the same time.
No single indicator can provide the ideal entry level and the new Forex trader has to grapple with this stark reality. Many find this hard to accept and spend countless weeks and months and hard earned cash [...] -
Day Trading Systems: 1 Tip You Need To Find A Profitable One
So, you?re thinking of buying a day trading system? Well there is one way to find out if it works and here it is:
Ask for the real time track record.
That?s how many real dollars has it made, in the market for the seller, over the long term 2 years.
Ask for it and we can [...] -
Forex Information For More Educated Trading Decisions
The concepts of Globalization have changed the forex trading dramatically over the past several years. New investment strategies and instant electronic trading now ensures high returns for the investors. Therefore it has become quite important for the traders to have authentic forex information. Internet and other electronic sources like CDs, DVDs, etc., are fast replacing [...]