{"id":992,"date":"2017-01-24T00:06:18","date_gmt":"2017-01-24T00:06:18","guid":{"rendered":"http:\/\/forextrainingacademy.com\/?p=381"},"modified":"2022-05-31T18:27:48","modified_gmt":"2022-05-31T17:27:48","slug":"forex-trainingbreak-out-trades","status":"publish","type":"post","link":"https:\/\/www.forexmentorpro.com\/blog\/forex-training\/break-out-trades\/","title":{"rendered":"Break Out Trades"},"content":{"rendered":"

One of my favourite and most profitable trading strategies is to catch what is known as break out trades. In many of the previous videos I have shown you how to trade with the trend.<\/p>\n

\"break_out_trade\"<\/a>So what happens when price breaks out of an area or even what to do when a trend reverses?<\/p>\n

Take a look at the image to the left.\u00a0This is a daily chart of the $\/Yen. Price had been bouncing along in a tight range.<\/p>\n

Price kept reversing and bouncing back down from 78.20.\u00a0Eventually price broke and CLOSED (the candle MUST close on a break out). Often price will start to move out and promptly turn back again. This is known as a “fake out” and means you will lose.<\/p>\n

On this occasion the very next candle came down and touched the 78.20 before moving away for almost 400 pips profit.<\/p>\n

What’s so good about break out trades?<\/h2>\n

This type of trade then can be very profitable and usually has a very good risk reward ratio which is what we are aiming for. I advise students to aim for 100 pips a week\/20 pips a day as a target. Therefore this one move gave a months profit from one trade! The reason why I advise 100 pips? Its achievable. If you can\u00a0consistently<\/i>\u00a0<\/strong>make 20 pips a day you can become a very profitable, very successful trader. All you need to do is ramp up the amount you stake, or let your account grow. With the benefit of compounding you can turn a $1000 into a million in 30 months. I will explain in a separate article in the blog.<\/p>\n

I have a colleague who has turned $100.000 in to $2.4 million in 3 years just making an average of 10 pips a day! There is no need to be aiming for 100’s of pips per trade. Forex always look so easy when you look back on a chart BUT everybody feels they got out of a winning trade too soon. Be grateful for what the market gives you. If you can be consistently profitable you can make a substantial income trading forex and with compounding thrown into the equation (Einstein stated that compound interest is the 8th wonder of the world) you can accumulate great wealth.<\/p>\n

Break out trades are my main forex method. I have a complete course in my forex mentor site where I explain what to look for and how to use this strategy. If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the \u201cGet Started Today\u201d Button below<\/p>\n

To find out more of our thoughts and inside tips on forex trading, take a look at some more of our blogs<\/a>.<\/p>\n

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To Watch The Video CLICK HERE<\/strong><\/a><\/p>\n

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Break Out Trades<\/p>\n","protected":false},"excerpt":{"rendered":"

One of my favourite and most profitable trading strategies is to catch what is known as break out trades. In many of the previous videos I have shown you how to trade with the trend. So what happens when price breaks out of an area or even what to do when a trend reverses? Take […]<\/p>\n","protected":false},"author":35,"featured_media":1221,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","rank_math_lock_modified_date":false,"footnotes":""},"categories":[111,157],"tags":[158,159,160],"class_list":["post-992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex-training","category-part3","tag-break-out-trades","tag-forex-break-outs","tag-m2-forex-method"],"_links":{"self":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/992"}],"collection":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/comments?post=992"}],"version-history":[{"count":3,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/992\/revisions"}],"predecessor-version":[{"id":218041,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/posts\/992\/revisions\/218041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media\/1221"}],"wp:attachment":[{"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/media?parent=992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/categories?post=992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.forexmentorpro.com\/blog\/wp-json\/wp\/v2\/tags?post=992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}