A Simple 3 Step Method for Huge Gains

On any Forex chart, you’ll see repetitive patterns that you could have traded for profit. This article is about spotting these repetitive patterns – and using technical analysis to create big consistent gains from them.


Use Forex charts and follow these 3 simple tips for success:

Step 1. Understand Support and Resistance

If you want to make money in Forex trading, you need to understand support and resistance - and incorporate it into of your Forex trading strategy.

An important point to keep in mind is to only trade valid support and resistance - as market participants consider these important.

Firstly, forget about using support and resistance in short time frames – it doesn’t work. All volatility is random in short time frames - so if you’ve been thinking about day trading - forget it.

You need to look at your Forex chart, and see support and resistance that’s held for weeks or months - and already been tested several times. As a general rule look for five tests or more.

You then need to decide whether support or resistance will hold, or break - and this is the difficult bit for any currency trader.

Step 2. Trade with Momentum

Most currency traders simply see prices approach support and resistance - and buy or sell - hoping the levels hold. Try this, and you’re sure to lose money. You’re guessing, and hoping - and the Forex markets will wipe out the equity of any trader that does this!

To be successful with your currency trading system, you need to calculate the odds of levels holding or breaking. This means looking closely at the momentum, and strength of price.

For example, if price momentum weakens into resistance, then you can sell. If however, price momentum accelerates into resistance, then you should hold back - and wait for the break to execute your trading signal. This way you’re always trading with price momentum - and there are several indicators you can use.

Two of the best indicators are the stochastic and Relative Strength Index (RSI) – which we’ve already covered in previous articles.

If you use stochastic and Relative Strength Index in association with your Forex charts, you’ll gain a huge advantage - by getting the odds in your favour.

Step 3. Cutting Losses and Running Profits

Cutting loses is actually the easy bit - you place your stop when executing your trading signal behind the breakout point - nice and simple.

[ForexGen Money Manager]

An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.