Forex Breakout Systems – Finally, One That Works?

If you like your automatic Forex trading system to scalp the markets for a couple of little pips here and there all day long, then this article is not for you. This is for all you Forex breakout trading enthusiasts out there who love watching huge moves grow out of those boring consolidation ranges and riding them all the way into profits.

If you're a true blue believer in Forex breakout systems, then you'll know that as rewarding as it is when the breakout does follow through to your profit target, breakout trading is not without its problems. We've all lost money in false breakouts, whipsaw trades, and most frustrating of all … getting stopped by a few pips, only for the price to hit the profit target in the next two bars. If all that pain is making you want to give up on Forex breakout systems, then I want to share a simple Forex trading system with you that that will get you the breakout profits that you crave.

First of all, if you're trying to apply Forex breakout trading to every trend exhaustion, consolidation range and support / resistance area, then you need to give it a rest and stop torturing yourself. The key to successful breakout trading is to be very selective with your trades. Otherwise, you end up losing so much money in your whipsaw and false breakout trades that even the biggest breakout move can not recoup those losses. The Forex breakout systems that work the best follow two simple rules: they trade at the right time, and they trade in the right direction.

There is one particular time of the day that is very attractive for Forex breakout systems to trade, and that's the period leading up to the London open. That's when all the Asian traders are just coming back from lunch, and the European traders are just beginning their day. As a result, there's a lull period in between the Asian session and the European session followed by a huge rush of trades pouring into the market all at once. That's one example of trading at the right time, and really if you could pick just one time through the day for your Forex breakout trading, this would be it. Narrow consolidation ranges followed by a breakout that is sure to come, is not that every breakout trader's dream?

Of course, you can not just flip a coin to pick wherever you want to go long or short, which necessitates the use of a Forex breakout indicator to signal the best direction to trade the breakout in. Well, you could go out and test the various combination's of indicators on many different time periods and pairs and hopefully find a Forex breakout indicator that works eventually. Alternately, you can buy one of the commercially available breakout systems on the market that works and save yourself the trouble.

One of these systems that I have personally tested is Forex Morning Trade, which contains a Forex breakout indicator that is highly accurate, as well as tested and tested entry, stop loss and profit taking points. Forex Morning Trade gets you in a trade right before the London open rush kicks in, and that's the only trade it will make for the day, so there's no danger of overtrading and being caught in repeated whipsaws and false breaks. This simple Forex trading system has only been commercially available for six months, but during that time it has averaged 300 pips a month in profit, a result that has been verified by many traders already using Forex Morning Trade all over the world.

I personally use Forex Morning Trade, and I can agree with many other users out there that it's one of the best Forex breakout systems around. It's a very simple Forex trading system with the whole package: pinpoint entry, Forex breakout indicator, smart stop loss and profit taking points. If you like breakout trading, or if you just want to add Forex breakout systems to your portfolio, then I highly recommend Forex Morning Trade for steady and reliable Forex breakout trading profits.

Source by Thad B

The Truth About the Best Forex Strategies and Training Courses For Beginners Finally Revealed

If you are searching for the best forex strategies and courses for beginners you will probably find that the amount of information available can be overwhelming. A common problem that new traders often face is trying to sort through all the often conflicting sources of information and then trying to decide who really has the best strategies and courses. A new trader can get to a point of information overload.

So what are the best forex strategies and training courses for beginners? First I am going to tell you about the best forex trading strategies. But before I tell you I should warn you that I am going to give you a really annoying answer. The best forex strategies for a beginner are whatever strategies you like and are comfortable trading. See I told you it was going to be an obnoxious answer. But hear me out.

As a new trader your focus should not be so much on strategies. It's common for new traders to get thought up in the search for that one perfect strategy that will make them successful. The problem is this search never ends. All it does is distracts the trader from learning the most important part of trading. What you as a new trader should be learning is how to become a good trader. No strategy is going to do you any good until you learn to trade with discipline and consistency. One of the hardest things to learn but most important is to let let your emotions drive your trading decisions.

So now what are the best forex training courses for a beginner? Be warned again this answer is going to be as obnoxious as the previous one. The best courses are ones that will teach you to be a good disciplined trader. Unfortunately most traders do not want to learn this stuff. It's not as flashy as chasing the latest great strategy. It takes time and some inner work on your own personal habits and this can cause some discomfort at first.

It's common for beginning traders to be too focused on making money now and that lures them into someone who will teach them that winning strategy. But as a beginner you should be trading a demo account and not care about whether it is making money or not. Your focus should be on your trading habits. After you learn to stay consistent and disciplined as a trader that's when you can start to focus on a strategy that will make you money.

If you need to make money right away it's probably not going to be from your own trading as a beginner. It may take months before you can start making consistent profits from your own trading. Until then using an expert advisor can make you the money you need. An expert advisor is a computer program sometimes called a robot that will trade your account for you based on a proven system. They do not cost much and they trade consistently without emotion for you 24 hours a day. You can actually learn a lot from watching them.

If you are looking for the best forex strategies and training courses start focusing on your own trading habits first. If you need to make money now find a good expert advisor and use it.

Source by M Wilson