The aim of many new forex traders is to predict market movement in advance and get better market timing and therefore increased profits. Let's look at how to make money predicting forex prices.
You can win at forex trading but keep one point in mind - you wont do it predicting forex prices because this is simply another word for hoping and guessing and you don't get rewarded for that and your predictions will end up as accurate as your horoscope.
You will here many people say you can predict and they have a scientific theory well if they did they wouldn't sell it to you so forget all the far out theories like Elliot wave and Fibonacci and see forex markets for what they are an odds based game where you need to trade the truth.
I was a newsletter once called trade the truth and the name stuck with me and simply means, trade the reality and what you see on a froex chart, not what you think it might be.
By trading the reality, you will get the odds on your side and a simple way to do this is with a breakout system.
With a forex trading system based on breakouts, you simply execute your trading signals on breaks of chart market highs or lows and its fact most major trends start from these.
Don't try to buy low or sell high or look for perfect market timing you will be predicting again and will lose.
Anyone can use breakouts and make money. The methodology is easy to understand, easy to learn and if you base your forex trading strategy on it you will be trading the truth and will have the odds on your side.
Sure you wont buy market tops and bottoms but you can't do this anyway so don't try!
The real aim of forex trading is to make money, so learn to trade the breakouts and you can be making big profits in 30 minutes, or less per day and enjoying forex trading success.
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