Author: Kelly Price
If you are looking for a Forex trading secret that can lead you to success then simply use the methodology of trading many of the world's millionaire traders use which most novice traders ignore but don't let that concern you, most traders lose! Let's take a look at it in more detail.
I will explain why novice traders ignore this strategy in a moment despite the fact it's obvious it works but first, let's take a look at the methodology which is based on two recurring facts.
The facts are that currencies trend for long periods which everyone knows but look how all the big trends start - they start by breaking to new market highs and as the trend progresses, they continue breaking out to new highs.
If you want to get in on all the best and biggest trends, with the odds on your side the obvious strategy to use is to base it on buying breakouts - Simple? Yes, so why don't most traders do it?
The fact is most traders want to predict highs and lows and simply buy into support and sell into resistance but predicting an exact market low or high is impossible; these traders are hoping and guessing and lose.
Because they have this mindset of catching exact turns when a breakout occurs, they see they have missed the first part of the move and won't get on board. They want to get on board later, when the price comes back so their in at what they see as a better price However, these big breakout's don't come back and they miss the trend and a great profit.
What the average losing traders fails to see and what they millionaire traders do, is that a good breakout immediately puts the odds on your side and who cares about missing a bit of profit when you have got a huge amount ahead of you.
Trade levels that have been tested a few times before the break and its the more the better in terms of increasing the odds and go with the breakout. You don't have to predict, hope or guess, you simply trade the reality of price change when a high odds set up presents itself.
The millionaire traders know the secret of big Forex profits and its not" buy low sell high" its "buy high and sell higher" and if you think about it and look at any chart, you will see how true this statement is so trade the breakout and get on the road to huge Forex profits.
Article Source: http://www.articlesbase.com/currency-trading-articles/forex-trading-secrets-the-simple-powerful-strategy-the-millionaire-traders-use-for-huge-gains-1242811.html
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