The first point I want to make is to say that the basics of learning a strategy to make money trading currencies is something anyone can do because Forex trading is simple and a simple strategy is all you need to make money. What I really want to look at in this article, is making the biggest amount of profit in the least amount of time.

A Fatal Mistake Novice Traders Make

Perhaps one of the biggest mistakes that traders make is coming into the market and thinking there are big profit opportunities every day they can capitalize on but this is not so. While there is volatility every day, it doesn't mean you can get good risk reward trades everyday. The losing trader, tries to trade everyday and make the market give him money but the market is not so obliging and these traders lose. There really gambling and trying to scalp a few pips but the odds of success are very low and they soon lose.

Patience and Knowing When to Trade

The real key to making the big money in Forex is patience and knowing when to trade and this is something most novice traders Never Learn. Its a fact some times the best trade is NO Trade. If you want to catch the best risk to reward trades you simply need to wait for them.

One of the great traders, compared this to the way a Cheetah stalks its prey, The cheetah will stalk its prey and wait until the right moment to make it move and only when its certain of a kill, does it move on its prey. If you carry this philosophy into Forex trading, you will be well rewarded.

Using Multiple Time Frames to Catch the Big Trends

Most traders look at a minute or hourly charts but all there looking at it random movements, the smart trader uses time frames which are statistically proven to give higher odds of success and will use the daily, weekly and even monthly charts, to zero in on the big moves.

If you have a level of resistance that lines up on the daily and weekly chart, its a good level to watch in terms of holding or breaking and if it also lines up on the monthly chart, the signal set up is even better.

When you have spotted the opportunity, you simply key off the level and follow price action. When you have a major resistance level which lines up in multiple time frames, the trend that develops after it will normally last for weeks and all you do is follow the trend.

How Many Times a Month do You need to Trade to Make 100% Annual Profits?

When using the multiple time frame entries, you will probably trade 4 to 8 trades a month, on the major pairs and crosses. These high odds signals can make you a lot of money. The key is not to move until the level clearly holds or is broken, only then do you execute your trading signal.

FX Trading Made Simple

The above is very simple strategy and it works, your not out to trade a lot, your out to make a lot of money in th least amount of time and a simple trading strategy based upon trading charts and multiple time frames, will help you make big profits in around an hour a day or less.