FOREX TRADING STRATEGIES THAT WORK EVERY DAY
Forex Trading Strategies is a term that conjures up a collection of vastly different reactions from different people.
From the young 21 year old hotshot trader who fantasizes about making fast money to fulfill his luxurious lifestyle…to the retired greybeard investor who takes little-to-no-risk…and all walks in between.
In reality, the truth about Forex Trading (and the ability to earn a steady stream of income from it) resides firmly somewhere in the middle.
The debates that traders have, like hardcore technical analysis VS trading fundamentals VS “hey I feel good about this trade even though I’m down big”, has made for very entertaining water-cooler talk around the office. But at the end of the day, if you are a person who is risking your capital in the Forex Market, you only have One Question: What is a trading strategy that works effectively.
And the answer to that question, my friends, is Price Action Trading, also known as TREND TRADING.
In this article I’m going to show you how to keep your Forex Trading strategy simple, focused, and of course, highly profitable. I’m also going to show you live trading examples from some of my favorite currency trading pairs and how it generates a 90% win rate.
Using nothing more than the power of the Trend.
WHY TREND TRADING
Folks, to implement an effective Forex Trading strategy, you have to do the following 3 simple things, and if you do, I can assure you that you’ll have a long promising career as a Forex Trader:
1. Capture GIANT moves (Ride the Trend and continue to stay in a profitable trade)
2. Minimize your losses quickly (cut your losses and move on)
3. Master the ability of using Leverage in your Trading Account
You dont need to have a PhD in Mathematics to figure out that Day Trading is simply a game of of probabilities.
Most beginner traders are under the impression that the odds of winning are 50-50, as if its a casino card game.
They risk 1 dollar to make 1 dollar (also known as 1:1 risk to reward), or they risk 1 dollar to make 2 dollars, etc.
Too fast to take profits, and too slow to cut losses. Attempting to buy falling markets (calling a “bottom”)…and even worse…trying to short rising Markets (calling a “top”). I know you know exactly what I’m talking about.
And that is, of course, why most beginner traders blow out their trading accounts quickly and give up.
How about experienced traders?
Well folks, EXPERIENCED traders know that there is a way to boost your odds of a winning trade to 75%, 80%, and in some cases 90%.
Hows that possible? How can there be a Forex trading strategy that accounts for a 90% win rate?
A FOREX TRADING STRATEGY THAT EXPORTS A 90% WIN RATE
The best traders in the world are masters of simplicity. They don’t jump around looking for 20 different currency pairs to trade – they settle on 2 or 3 pairs. In addition, top traders NEVER use indicators – they trade on a Naked Chart. Click here to watch our Youtube video on the results of Indicator Trading vs Naked Trading.
So how do the top traders on the planet make a killing in the Forex market? By riding and milking the Trend of the Market all the way to the end. By squeezing every drop of profit out of that Trend like a well-used towel. By using powerful Trend Trading tools like DynoBars and other tools to identify the START of a new Trend.
Folks, no one has ever made any money by jumping into the END of a trend.
The only way to earn a sizable fortune in the Market is to import a Forex trading strategy that identifies when the potential START of a new trend occurs, then get in on that trend, manage your risk, and let the other clueless market participants do the heavy lifting for you.
Here are several illustrations
One thing that immediately jumps at you is the simplicity of our DynoBars charts. You can see that these color coded bars contain absolutely no Trading Indicators, illustrating a concept known as Naked Trading – the ability to trade based on pure Price Action.
For BUY trading setups, simply look for the first Green Bar that finishes printing after any string of continuous Red Bars. This is your indication that a potential monster trade may be about to start. For reference purposes, this Bar can be called the Starting Bar.
The High of this Starting Bar and the Low of this Starting Bar now become a more sophisticated / accurate version of a pullback zone (also known as the Retracement zone) that we are looking for price to pullback into. Click here to watch our Youtube video on exactly the perfect trade setup to look for.
For SELL trading setups, also known as short trades, simply work the colors in the other direction. Look for the first Red Starting Bar that prints after a string of Green bars, and plot your Retracement zone – the bar high and the bar low. Then look for Short trades whenever price rallies back into the zone.
PROFIT FROM OTHER MARKET PARTICIPANTS WITH A WINNING STRATEGY
Having coached and mentored hundreds of traders with a wide array of backgrounds, I can tell you that there is ONE THING that separates winning traders from losing traders. It has nothing to do with professional background, education, age, etc.
It is simply the ability to recognize that trading is a delta-neutral game. If there are X number of winners on a particular trading day…then there are also X number of losers. There have to be winners and losers in every market, in every exchange, in every transaction. There are only 2 players in the game – experienced traders and in-experienced traders. Guess who profits at the expense of the other?
The experienced traders use a simple Forex trading strategy like DynoBars that identifies major trends. They sit back and work less than 2 hours a day – and account for 100% of all market profts.
The in-experienced (or beginner) traders load up their chart with 20 different indicators. They stare at the computer screen for 12-15 hours per day and wonder why they are always on the wrong side of the trade. These traders account for 100% of all market losses.
Folks, gone are the days of candlestick charts and tape reading. Today’s trading is dominated by institutional traders and black box algorithm trading bots. These are the BIG traders that move markets, and any effective Forex trading strategy MUST follow these large traders. Studies have shown that there are a staggering 2 Million retail forex trading accounts opened each year – almost 200,000 accounts per month! Those are the people that we take money from, and this is the reality of trading. Day after day. Month after Month. Year after Year.
Trend trading in the Forex market has worked effectively for the last 100 years, and it will continue to work profitably for the next 100 years.
To learn more about how you can capture 2000-3000 PIPS per week in the Forex market, click here to get in touch with us.