Forex Breakout System trades ranges and profits from the explosive breakouts. Bank traders are range traders. You need to learn like a bank trader. Most of the time, the forex market is ranging. What this means is that the price action is bound between two horizontal support and resistance levels or lines. Price action moves back and forth between the horizontal support and resistance like a ping pong ball until breakout takes place and a new range gets established in the market.
When the breakout takes place, either the support is broken or the resistance is broken. If you can trade these breakouts, you can make a lot of pips. This is what the Forex Breakout System developer Dave says: ” Hi, my name is Dave, and I have been involved in the Forex market for quite a few years, but not in the way you’d think; My background is in Real-Time Systems Analysis and Development.
I work with a number of professional traders who teach me their systems, and I would automate, test and analyse their theories and assumptions. The reality is, to find 1 theory that is useful, we would have to test at least 100. The result of this exhaustive process would lead us, time and time again to a simple conclusion…The simpler the theory, the more consistent the gains. It doesn’t get any simpler than trading ranges!”
Yes, range trading is one of the most simple yet very effective trading strategy. Although, profits are much higher in trend trading but keep this in mind that almost something like 70% of the time, forex market ranges or is ranging. So what to do when there is no clear trend, learn to trade these ranges effectively to extract as many pips as possible from the market.
Get 2 custom indicators and a manual from Dave, the developer of the Breakout Forex System FREE by simply entering your email to get the download link. Plus get a Candlestick Pattern Indicator when you download the Forex Breakout System!