A Profitable Forex Strategy

How Traders Can Make A Profit Trading The FX Market

Trading like any other business can be challenging.

Like all battles that are won and lost, they are usually won by those who do their homework and research. However, given a bit of education and knowledge of the market, it can become quite easy to profit in the forex market. Most traders end up learning that it’s the simply systems that create the wealth. Over analyzing and over thinking can sometimes affect your trading methods and strategy.

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Forex stratergiesThe trading method I am going to explain here is probably going to upset you a little and will most likely go against everything you have ever been taught about forex.

However, you have to remember that this is a strategy and its how other traders profit in the FX market.

It may not work for the next person, but it has many make a way to make a substantial amount of money in the forex market. Through your forex training you might have heard traders tell you to always trade with a stop-loss.

If you don’t know what a stop-loss is, it’s simply an order telling the broker when you would like to cut your losses. I don’t trade with a stop-loss period. How is this so?

How can traders make money without using a stop-loss?

I tend to believe that the big players in the forex market like to drive this market in certain directions to take out other traders stop-loss positions. In order for the banks to make money, they have to take other traders money, therefore taking out stop-loss orders in the market.

Traders should not allow the banks to take their hard earned trading profits.

Secondly, on each trade look to make only a few pips.

In some cases this is known as scalping the market.

With these trades, traders are looking to get 3 to maybe 6 pips or as I like to say, get in and get out.

Your next question might be, “how do I know when to enter and exit the market?” Traders use a set of indicators combined with a detailed analysis of trend lines and channels.

The indicators tell traders when to get in and get out and the trend lines give me the overall direction of the market for the next month to few years.

Having a good idea of where the market is heading over the course of a few years gives traders a good idea whether they are in buy mode or sell mode on a daily basis. How is it possible to survive without using a stop-loss?

Very simply put, do not risk large amounts on each trade. Traders risk Only one tenth of  their accounts balance per trade. For example, I only trade $1 lots on a $10,000 account. What this enables traders to do is use no stop-loss.

If the market moves 200 points no problem.

By the time the market moves 200 points, I’ve already made 100 other trades in profit all for 3 to 6 pips each.

If the market continues to get away from traders, traders continue trading each day gaining which eventually compensates for the few losers and eventually overrides them. When the market comes back in their favor, those losing trades are making a profit every step of the way.


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