November 30, 2007

The '1 Trade A Week' Forex Trading System

Many traders try and make as much money as possible, and therefore always want to be in the market, but this is hard work, and inevitably leads to you taking a few dubious trading decisions which can often prove costly.

The fact is that you can make just as much money as short-term traders and scalpers by looking for just 1 excellent trade per week which has the perfect set-up. By that I mean taking a position where all your favoured technical indicators are in harmony and indicate that a strong movement either up or down is highly likely.

If you've been trading for any length of time you should have noticed that every so often you get what appears to be the perfect set-up. More often than not these positions can play out and can yield several hundred points profit, which has to be better than constantly scalping all day for a few points here and there.

Just 1 of these per week can be enough to make an excellent living from forex trading, and you may even find that you get several of these ideal set-ups per week, depending on how many currencies you track and what time frame you are using.

As an example of such a trade, I personally spotted a perfect looking set-up on the GBP/USD on Thursday morning which yielded some excellent profits:

Spot FX GBP_USD (30-NOV-07).png

This turned out to be excellent trade, but I had full confidence it would be a profitable one because all my indicators were indicating a probable downward move.

The main point I want to get across is that you just need a few of these high probability positions every so often in order to make some excellent returns. 

For more forex tips and strategies, including full details of my main 4 hour trading strategy, simply sign up to my newsletter by filling in the short form above.



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