Short sell GBP … small but interesting low risk trade

An interesting trade here.  Ultra low risk (less than 2% of these trades fail to make a profit).  Having failed to make a break above the “congestus” (deep grey) formation we get a short trade signalled with a half position (£10/pt) and we make a market entry at 1.3419 and then watch the trade develop.  After 15 minutes the “traffic lights” indicate we should top up to a full position short, and we add another £10/point to make us fully loaded at £20/pt.

After that, it’s a simple job to trail the trade down and in this case, I was stopped for 17 points at full position plus an initial 5 points at the half position. 

£50 + £340 = £390 with only a 2% chance of a trade failure.

You may ask why I didn’t do more than £20?  It’s simple.  I follow rules.  My current maximum position is £20/pt.  I stick to the rules and I make money.  Today in total I’m £810 in profit for two simple trades.  Others were available but all failed the risk-reward test.  

Trading forex successfully takes time and patience.  Stick to the rules and you could make more money than you can imagine.  But it’s NOT a quick fix.  It takes time to learn your craft.  Once you do… its possible to make £500 / day in as little as 30 minutes just watching the evening session for a couple of currencies.