One out of the dozen!
Here is a really cool and simple strategy to start you out with the “trader’s dozen”.
Trade break outs, my friends! Anyone who says “break out strategies are risky” is contradicting themselves. Do you know why? Because without break outs there would not be trends! Think about it logically, every market alternates between trending and sideways, right? What is a trending market after a sideways market? It is a “break out” market. If the break out market is a valid move, it starts a new trend. So, where do you want to get in? The answer is simple, at the top if it is a break out of the bottom of the sideways with projection of it going lower (developing a down trend) and at the bottom if it is a break out of the top of the sideways market with the projection of it going (trending) higher. In essence, you are catching the tops to short from and the bottoms to go long from.
So, here are some tools for you to participate in break out trades. I am including the indicator that will plot the highs/lows established during most liquid FX-markets (London session and American session) , that you can trade break outs of after the sessions are complete . This is totally cool and can help you establish an edge as a break out trader.
Here is the link, just download it and attach to your MT4 platform.
