Due to the fact that 95% of forex traders are losing money right now, the idea of making money with forex seems like an impossibility to some. You can certainly understand why.

But let’s examine why there is such a separation between the 5% who are marking money with forex and the 95% who are losing money.  What makes these traders so different from one another.

Some people think that the 5% have some kind of “inside” information that the 95% aren’t aware of.  While that certainly may be possible, I seriously doubt that is the case for the entire successful trading public.

Some people believe that it’s an intelligence issue.  They somehow feel that this elite 5% had a better education, higher IQs, etc….. that they are able to grasp all the mysteries of forex trading, while the other 95% are just throwing darts at a dartboard.  Well, that’s wrong as well.  I can tell you with great certainty that successful trading has nothing to do with intelligence.  I’ve met some traders who make 7 figures a year who didn’t even graduate from high school.

It really boils down to thinking outside the box. Many people conform to the ideas of using lots of bells and whistles.  For instance, a lot of traders love the idea of slapping a bunch of indicators on a chart, and letting these indicators make their trading decisions for you.  This is where many people go wrong, and this is why the failure rate is so high.  If you want success, you should try to see the markets in its purest form, and for a technical trader, this means using price action.

John Templeton has been a successful forex trader after learning how to trade price action. Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared. He developed his own course, called Trading in the Buff, where he teaches traders how to properly learn forex.

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In this article, you will find a free successful Forex trading system that works and will continue to work, its easy to use and apply and it’s enclosed.

There has been a move in recent years by traders to buy into the so called Forex Expert adviser myth where you pay a vendor $200 or less and get an income for life, huge gains and no drawdown but it’s a fantasy. These systems never produce audited track records and they all lose.

If you want to make money at Forex and accept that your trading long term, will get losses but can win longer term, with a solid, logical system then this Forex trading system is for you. Let’s take a look at it and why it works.

The system is very simple and devised back in the nineteen seventies by one of the true great traders Richard Donchian and while he has passed away now, savvy traders still use this system.

It still works today and will continue to work, as long as markets trend, here it is:

Buy a breakout to a new 4 week

Hold the Position

Wait for breakout to a new 4 week low then liquidate the long and go short
Hold the Position

Keep reversing as new 4 week highs and lows are hit and always maintain an open position in the market

Now while the above is very simple, it works and it does so for two main reasons:

1. It’s a long term trend following system and the big trends last for a long time.
 
2. It buys and sells breakouts and all big trends will start from these breaks and continue from them as the market trends.

It will lose money when markets don’t trend but you can add a filter which is to stop yourself out and go flat, on a shorter moving average say 10 or 20 days and then wait to get in again, on a 4 week breakout. Either way, it works and will always work because markets trend.

It take discipline to follow, because its so long term but the upside is, it will only take you a few minutes per day to operate, you can do the calculation in your head and it makes money.

This system has been used by many of the great traders and such legends as Richard Dennis were fans of it, so if you use it, you know you’re in good company.

Simple? Yes but it works and all the best trading systems are simple and robust and you don’t can’t get a simpler system than one than the above! Its free so you have nothing to lose by looking at it and you maybe surprised, how much money it makes.

FREE ESSENTIAL FOREX TRADING PDF’s! AND TRADER TOOLS!

For a complete resource on how to win at Forex trading and a proven FREE Forex Trading Signal FREE PDF and an exclusive RISK FREE Forex Course visit our website.

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This Forex trading strategy is simple to understand, easy to apply and catches the big profits from the really big trends in around 30 minutes a day. Anyone can learn this trading method quickly so let’s take a look at it.

Most traders never focus on the big long term trends but if you look at a Forex chart, there are trends which last for many weeks or months and if you catch these trends, with leverage on your side you can make huge gains.

So how do you get in on these great long term trends?

If you look closely at any currency pair, you will see that most of the big trends start from breakouts to new market highs and they also continue from them.

The way to make money therefore is to get on and hold the big trends, by buying breaks of resistance. It’s simple, its logical and it works but most traders don’t do it, before we look at how to make money at breakout trading, lets see why most traders ignore its profit potential.

The reason is simply most traders are obsessed with predicting the market in advance they want to buy low and sell high. When they see a breakout, they have missed the first part of the move and want to wait for a pullback to get in but the best breakouts don’t pullback and this trader misses the move.

The experienced trader doesn’t care about predicting or missing the start of the move and why would they? The best breakouts continue and pile up big gains, these traders are not interested in perfection, just making money and that of course is the aim of any Forex trader.

So what are good breakouts?

You can trade breakouts of any level which has been tested at least twice but not all breakouts continue in the direction of the break; the ones that do, are the ones which are considered important by the market and these are normally at least six tests, when breakout trading keep in mind the more tests the better.

You will normally get a few good breakouts each month and I know traders, who trade once or twice a month and earn triple digit annual gains and you can too.

Breakout trading is very low risk because your stop is always tight (just below the breakout level) so if your wrong, your out with a small loss and if the trend runs, the profit potential is huge.

Breakout trading can be done without indicators but we like to use a few to confirm price momentum is accelerating as the breakout occurs, to increase the odds of success and we will look at some of these, in the next article in this series.

As long as markets trend, breakout trading will work and make money. It’s so easy to understand and apply, that any trader can quickly put together a breakout trading strategy and make big gains in 30 minutes a day or less.

FREE ESSENTIAL FOREX TRADING PDF’s! AND TRADER TOOLS!

For a complete resource on how to win at Forex trading and a proven FREE Forex Trading System FREE PDF’sand an exclusive RISK FREE Forex Course visit our website.

Article Source:http://www.articlesbase.com/currency-trading-articles/forex-trading-strategies-the-best-strategy-to-make-profits-quickly-946331.html