Forex Profits from home - Facts not Hype

The Forex Trading Market provides continues profit opportunities. Know how to use these. It is an open secret that many aspirant Forex Traders blow their capital at least ones, including yours truly, the very dude writing this article. I proclaim myself an expert on what not to do, this intimate Foreign Exchange trading knowledge having been accumulated over a period of some 6 years of live trading. At this time I make a handsome living from my Forex Trading business. This enormous market has many pitfalls, but nothing that can't be put aside by pure common sense. The Forex Trading Market only moves in one of two directions - learn how to use the technical analysis tools and you will have gained momentum towards Profits from this market. Learn a Good Forex System into which you synchronize the tools of the trade and you will have increased the profitable trade entry ratio in your favour to a 80-20 ratio or better.

Let's now look at the single most important factor identifying profitable Forex Trading Market entries. There is no substitute for correctly identifying this fact. The S&R lines, or more realistically put, S&R areas, if correctly identified, will make you wealthy. What do we look for to identify these areas? For the following method which I use go to the 4 hour forex trading chart, to find the trend and I confirm my intended entry as follows.

1. Chart consolidation periods. After every market consolidation you will get a move either up or down.

2. Use the trend to tell you which way the market is most likely to move.

3. Confirm your decision by identifying a confirmatory chart pattern, like an ascending or descending triangle, and often a double top or bottom is a good indication

4. To back this chart pattern use a common oscillator like a Stochastic or a RSI to make doubly sure that your direction has been confirmed

5. On confirmation seek to enter the traded on the 5 minute chart moving in the direction of the trend.

The above Forex Trading scenario will be used to good effect by many traders, including myself. Make sure that you do not lose out on the move by using a Stop loss that is too tight. Often you'll hear Forex traders say that the market moved in his direction shortly after he was stopped out.

There is however an alternative which now allows the housewife, the student, or the casual trader to make some real money. I have done it this way and trebled a small account in 32 days. You're welcome to my personal account just call for it and I'll send it - no problem. I shall not go into detail here, except to say that modern Forex Trading Technology is also the down fall of many new Forex Traders. The hype that is created around some of the robots that are being sold is quite astounding in view of the fact that NONE of them last, they will ALL loose you your capital eventually. No small account should run a robot. It will blow you out of the water if your Fore Trading account does not cater for at least a 400 pip draw down. Robots are dangerous. Keep your money in your pocket, the only person that gets wealthy from those things are the sellers. STAY AWAY. Follow me and let me take you into your future. You could do wo