How I Trade Breakouts
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Uploaded by YourTradingCoach on Sep 21, 2008
http://www.YourTradingCoach.com - How I trade breakouts - Video response to a couple of email questions asking how I trade breakouts, following the Support and Resistance article series in my website article directory.
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@naynay447 its m15 0_0....
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i am still wondering how long will it take for me to get in the game ( i will never start trading before i exactly know what i am doing ) , there is so much educational stuff to learn and none of the theories can guarante a succes , i have followed larry williams and many others but trading seems to be a philosophy.
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Hello,
Open an account with Dukascopy, a world renowned trustworthy ecn fx broker, through us, and get 44% Commission Rebates!
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Good information. Forex is the way to go.
Lanes
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Are you still able to do this with the First in First Out Rule?
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what time frame do you look at for these breakouts. Day, month...year?
naynay447 1 year ago
@naynay447
Hi naynay447,
I currently trade FX futures on a 1 minute chart, but the concept is applicable on all timeframes.
Cheers,
Lance.
YourTradingCoach
YourTradingCoach 1 year ago
Nice video, I do trade the S & R lines and also breakouts. How I have managed to trade "breakouts" profitable. Firstly my sl is 8 pips or less. Specifically on a ranging market I simply sell a few pips before my res line and will buy a few pips above my line if a breakout happens. I do this day after day and it does work because If i am "incorrect" I take a small win or a small loss and if I am "correct" I take many more greater gains. Always look above and below the line. Go with the flow
1M2N3M 1 year ago 2
@1M2N3M
Thanks 1M2N3M,
I'm glad you enjoyed the breakout video. Thanks also for sharing your strategy.
All the best with your trading,
YourTradingCoach
YourTradingCoach 1 year ago
Good video. Buying on a retracement is the mainstay of my trading; looking for support to form around Fib lines. I can get higher gearing this way than by breakout trades which, as you demonstrate, often involve wider stop losses.
Keep up the good work Lance, videos like this can keep people away from the systems scammers and learn the markets for themselves.
stonebridgeboy86 2 years ago
Hi stonebridgeboy86,
Thanks for your comment. Much appreciated. I agree entirely - the beauty of the retracement into support is that it offers a much greater potential R:R, due to the ability to place tighter stops.
All the best with your trading,
Lance Beggs.
(yourtradingcoach)
YourTradingCoach 2 years ago