| If you want some good FOREX education to help you | | | | strength of price. |
| build and execute a trading method the good news is | | | | We like the stochastic and RSI, But indicators used are |
| you don't have to buy a worthless e-book from a | | | | matter of preference. |
| vendor ( with no real time results ) you can get all the | | | | A SIMPLE METHOD FOR PROFIT |
| info you need free. | | | | The above may sound simple and it is - the best |
| Here are some tips on the best FREE FOREX | | | | methods are. |
| education. | | | | You don't make money in FOREX trading for being |
| You Need a PROVEN method | | | | clever you get paid for being right. |
| This should be technically based. | | | | There is no correlation between how complicated a |
| All you need to do is search technical "analysis of | | | | method is and how successful it will be. |
| FOREX markets" and "support and resistance" and | | | | In fact, simple methods are best and you should focus |
| you will find everything you need. | | | | your FOREX education on them because: |
| Once you have done this, you need a methodology to | | | | They are easy to understand, easy to apply and more |
| trade with. | | | | robust in the face of brutal market conditions. |
| The simplest method to understand is: | | | | The PROOF |
| A breakout methodology search "FOREX Breakouts" | | | | We have used a simple system and demonstrated |
| Once you understand the above, you will need to | | | | how profitable it can be in numerous articles and we |
| decide if breakouts are valid. | | | | have applied the above tools to spot big moves - |
| You need to calculate price momentum i.e. is it failing at | | | | check them out. |
| a breakout, or is it accelerating? | | | | Before you |
| The former indicates resistance or support will hold, the | | | | Waste money on a worthless e-book from a vendor |
| latter it will fail and a breakout occur. | | | | who has simply put together a system with a |
| Get a good free chart service like Pull up the charts on | | | | simulation of profits (he is probably no smarter than |
| the indicators and look at the studies at the bottom. | | | | you), take a few hours to research and build your own |
| There are three that we find useful and you will to - | | | | method. |
| look up their logic and try using them in conjunction with | | | | Keep in mind only you can make yourself successful |
| support and resistance. | | | | and if you think you can buy success for $100 or so - |
| Price momentum indicators that are good are: | | | | think again! |
| Relative Strength Index RSI and the ultimate indicator | | | | If you do the above, you will have something that you |
| for timing trades: The Stochastic. | | | | can have confidence in and apply with discipline for |
| We also like Bollinger bands for targets and to see | | | | profits. |
| volatility | | | | One final point: |
| Look up the logic of both. Using these in association | | | | When trading breakouts only trade ones that are |
| with support and resistance is a great way to trade. | | | | significant i.e. on weekly and daily charts (forget day |
| Other useful indicators to look at are: Moving | | | | trading it doesn't work) |
| averages, MACD and the ADX | | | | If you trade only the best breakouts and trade with |
| Breakouts trading them for profit | | | | momentum you will have huge profit potential. |
| It's a fact that most major moves start from new | | | | Finally, have patience and only trade the best set ups. |
| market highs NOT market lows and that is why a | | | | That's it. |
| breakout method is so effective. | | | | Research the above FREE FOREX education, build |
| To check if a breakout will fail or break you simply | | | | and test your method and then go and make some |
| need to get some momentum indicators to gauge | | | | profits! |