They say that many traders fail at Forex Trading.
We say that many traders ultimately succeed at Forex Trading, and it’s not difficult as they want you to believe.
Of course, you need to learn, be determined, and probably, you will make some stupid mistakes initially.
But once you learn how to trade forex, you will earn big profits like the one that we were able to achieve today.
The secret?
Identify some good trading indicators and then develop a Forex Trading Strategy around them.
Don’t know where to start?
Watch our live trade below!
You can see our forex indicators for TradingView in action.
Moreover, you can learn step-by-step our Trading Strategy so that you can learn how to Trade Forex yourself.
Trade setup – 19 Feb 2020
The price has kept moving lower for a prolonged period of time (almost 20 days) at a very constant and sustained pace.
This alone indicates that we should get an uptrend, or at least a retracement, soon.
Moreover, once we add some of our best TradingView indicators on the chart we quickly realize that we might have a very great opportunity.
At least, we have a setup because:
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- There is a significant divergence between the price, which is falling, and the RSI Exhaustion, which is rising
- The RSI Exhaustion is bearish exhausted, which means that the price doesn’t have much room to move any lower
- We have a confirmed bottom (displayed by the Bottoms Tops Signal)
Since these three key conditions are met, we open our trade by setting the stop loss a bit lower than the most recent lowest price level.
The Trading Target is instead all the way up to where the current downtrend started.
Why so high?
Because a similar downward movement is not sustainable and, if we expect the price to move higher, then it is very likely that it will come, at least, all the way up to where it started.
Trade update – 21 Feb 2020
The price is moving sideways, which is actually a good sign because it means that it has stopped falling.
Moreover, the RSI Exhaustion is rising like crazy which indicates that the price should rise as well anytime soon.
Trade update – 26 Feb 2020
The price moved higher. It has just formed a top, but if we look better, we see that the RSI Exhaustion is forming a very bullish pattern so we just stay into the trade and wait for the price to move even higher.
Trade update – 28 Feb 2020
The price is just skyrocketing… we predicted the up movement and it’s taking place.
The up movement also gave us the opportunity to move the stop loss to breakeven so that, if the price comes back down, we’ll still close the trade with a very nice profit.
Trade closed – 2 Mar 2020
We kept it simple, we trade it safely and we reached this amazing target!
The price accelerated as this forex trade evolved and we ultimately got a 9x profit!
How amazing is that?
This trade is the perfect demonstration of how it’s possible to get a 9x profit by making a clear and simple analysis.
If you’re looking for a way on how to make money in forex, then you might want to check out this very profitable forex strategy.
We’ve been using this strategy for many years and it proved to be extremely reliable (and profitable!) once again.
What is the maximum return that you were able to achieve so far?
Let us know and share it with fellow traders by leaving a comment on the YouTube video above!
