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Most traders focus on trying to catch short term moves as they think its lower risk and higher reward but the best risk to reward is hitting and holding the big trends and its easy to make money from Forex trend following, if you keep these points in mind…

Take a look at a Forex chart and you will see Forex trends that last for many months or in some instances years and the reason they will always occur is currencies reflect the underlying health of the economy and these economic trends last a long time. Most new traders however ignore these big trends and want trade short term and day trade or scalp but this is doomed to failure – Why?

Because all short term movements are random and because they are its like flipping a coin what appears low risk trading is actually high risk trading. You can’t get the odds on your side short term but you can long term.

Here are some points to keep in mind, to make a success of long term Forex trend following.

1. Trade Less Make More

You need patience and you only need to trade a few times a year to make big triple digit gains. You don’t get rewarded for trading often – you get rewarded for hitting and holding high odds set ups.

2. Use Breakouts

Most new trends start from new market lows or highs and buying these breaks, can get you in and keep you in all the big long term trends.

Look to buy breaks of levels the market feels are important and if everyone disagrees with the break, the chances are it’s a good one.

3. Milking the Trend

Many forex traders cannot accept big profits and as soon as they have one, they want to protect or take it – this is WRONG!

Move your stop too quickly and you will be bumped out of the trade early and you of course want to hold long term. Keep your stop back and trail it outside of random volatility. You will give a bit back at the end – but always keep in mind:

If you had 50% of every big trend you would be very rich!

To make it easier to hold long term trends you can try the 50 – 50 split.

I use this all the time and the concept is simple.

When a trend surges in your favour and becomes overbought or oversold, you tuck 50% in the bank and leave 50% in the market. You then wait, for a rally against you, then put the 50% back in and you keep banking and re-entering.

This smoothes the equity curve and makes holding long term trends much easier, as you are being pro active in managing the trade and it makes it psychologically easier.

An Easy Time Efficient Way to Make Big Profits

Forex trend following is time efficient and you only need watch the markets a couple of times a day at most, you also don’t have to trade often to make triple digit annual gains.

If you want to make the really big moves, you need to hit the big long term trends; they will always occur and you can trade them for profit and enjoy currency trading success.

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If you want to catch the really big moves then trend following in forex if done correctly can put you in trends which will last for weeks or months – its these big long term trends that yield the big profits so stop trading short term and use a long term trend following strategy like the one enclosed…

If you look at any chart you will see long term trends that last for weeks months or even years and they always occur because currency trends reflect the underlying economic cycle which last a long time and this is reflected in the currency movement.

Now let’s look at a trend following forex trading strategy, that’s simple, take about 30 minutes a day and will get you in on the big trends.

1. You need Patience

You will only get a few opportunities a month so you need to be patient and wait for them to come around. Many traders think the more they trade the more they make and end up taking low odds trades however if you want to win, you need to be patient.

I know traders who trade a few times a month and make 100% annualized gains and you can too.

2. Spotting the Opportunity

Forget buy low sell high, the best way to trade is to buy breakouts to new highs or lows.

It’s a fact most major trends, start and continue from breakouts and you want to get in on these breaks and milk them.

We have written about how to spot the best breakouts in other articles so look them up – but in essence you are looking for support and resistance the market feels is significant. When it breaks – stops will be hit and fresh buying comes in, which sees the trend continue.

Don’t wait for pullbacks to get in this is the major mistake most traders make.

They think they have missed a bit of the move and want to come in on the pullback, get in and dont wait, if momentum confirms the move, the odds favour a continuation of the break.

3. Confirming Momentum

This is easy to do and there are plenty of indicators which show momentum and velocity of price. If it is accelerating through the break it confirms the move.

We don’t have time to discuss all momentum indicators in detial here but two great ones are:

The Relative Strength Index (RSI) and the stochastic.

Look them up, they take about 30 minutes to learn and are great for confirming moves.

4. Set Stop and Trial it

Stops are easy when trading breakouts, under the breakout point.

What separates out the pro traders from the ones who make mediocre profits is – the way they trail their stops.

The pro trader understands that he has to give the market room to breathe and therefore trails his stop outside of market volatility. He accepts short term drawdown as necessary, to hold a trend for weeks or months. While you need discipline and confidence to do this, it is this key area that if you get the stop right, will give you huge gains.

Trade Less Make More

So there you have it, a short summary on how to trend follow forex correctly.

Most traders want to mess about and try and catch small moves, where the odds of success and profits are small. If you want to make big profits – lock into and hold the long term big trends, they apways appear and now you know how to lock into them.

You will trade less, make more and its very time efficient and could make you triple digit gains.

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