Only Trade These two things

If your strategy does not take into account these two things, you should probably check your strategy for possible bugs!
1. Breakouts
2. Reversals

 

Forex trading is always faced with price risks that move beyond predictions. That is why I suggest you to secure profits when price movements are equal to the size of stop loss (SL). So if the price suddenly changes direction and SL is touched, the trader does not need to worry because the loss will be covered with previously secured profits.

 

i do enjoy sitting on the sideline and wait for breakouts. most of the times, the trading decisions i made based on these breakouts are correct and profitable. you guys might want to try that as well.

 

Thus breakouts are the signal itself for some people that apply a breakout-retrace-entry technique. I can say that I apply it too on my own trade.

 

yes, true. treating breakouts as signals is one of the ways. man forex trading is so interesting. the more you get into it, the more you can learn and dig

 

Yes, agree! Forex trading is so interesting and cool !! can you teach me how to master breakouts? Because I feel that I am not pro with breakout strategy, I saw my friend using this strategy and he make a lot of money

 

Oof, it's probably one of the hardest strategies to learn and even I am still learning I think, to understand this strategy, you also need to understand the pair you're trading. So, my advise for beginning, see the breakouts pattern of one pair you understand or trade the most.

 

Well, breakout trading system for me is to enter when a price breaks a support/resistance level. For me, it's better to wait for a retrace before enter the trade in order to minimize the risks

 

are you saying waiting for a retrace is saver (or easier) than waiting for a breakout? please, master, care to explain but don't be as scary as "tengkorak". heheheh

 

Yes, it is. You only need to learn about support resistance, and supply demand. Care to check my own thread about my weekly analysis.

 

Support resistance is good, I want to learn it. I think I will check you weekly analysis and start learning there. It is good to have a new strategy for me, I hope the result is good.

 

hahah right on, right on. What did I ask about not to be as scary as "tengkorak"? anyways, I am learning more and more about this. Even though I've been trading for some time, there's always new things to discover or improve. One of the reasons why i love trading.

 

You will love it when you know the critical areas of the price. some people even trade only at critical areas when the price breaks the level and making a correction or retrace to the said level.

 

yep that is what i've been reading on analyses. waiting for retracement and correction seems to be a popular strategy before making a move. worth to try!

 

But sometimes big movement of the market leave no traces and mostly it will never retrace. So for this situation we should hold ourselves from trading and let the market going first.

 

Trading in strong trending market conditions is very profitable. Trend Followers always observe the direction and strength of trends to get the most appropriate entry opportunities. But did you know, if the best way to get maximum profit from trending conditions that are strong is the Breakout technique?

 

Breakout technique is the best recommended one if you want to trade alongside the big trend itself. It's far much better if you can see the retracement on the breakout itself...

 

I'm also very happy to learn the breakout technique from FreshForex because the discussion is light and easy to understand

 

Yes, I do agree since they're giving away simple yet profitable techniques like the breakout one that I just had on their webinars. Even it's better to combine it with support resistance or trendline analysis...

 

I also tried to study Elliot waves analysis, because it was not easy and had to be diligent in learning it.