I have been giving some live trades to show how a simple system can make big profits. We have done 2 live trades and made two great profits.
We did the same last year we did 5 trades live and won on all of them!
Now that does not make me a genius, but I want to share something with you that I have learned over 25 years as a trader.
The Best Methods are SIMPLE
I have tried just about every way of trading from using artificial intelligence to neural networks and some methods overloaded with indicators and I can tell you the best methods are simple.
The method I use is simply this:
1. Look for significant levels of support and resistance
2. Use a breakout methodology
3. Use stochastics to time entry
4. Use Bollinger Bands for targets and RSI as contrary trading indicator
People think the harder they try or work on a method the better it will work but this is not true.
You get nothing extra for effort in the FOREX markets.
There are many smart traders out there who build incredibly complex systems and are dismayed when they collapse in the brutal world of trading.
The problem with complex systems is there are to many elements to break.
My system above works on any market not just currencies and its logic is sound.
It works makes money and only takes 30 minutes or so a day to execute and there is also no intra day monitoring as it works off daily closes. .
It Does However Need:
The trader to spot and filter the set ups. This means YOU pull the trigger not a computer.
Many traders don’t like doing this but the fact is:
We can think computers cant and I personally like the responsibility of making the trade. If you want to delegate totally to a computer then this system may not be for you but I am always more comfortable pulling the trigger myself.
So there you have it a simple system that makes money and I have given you the logic and components for free.
I hope you like it and its of as much use to you as it is to me - after 25 Years I am still using it and it is still making money which is what forex trading is all about.
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