Many people who want to benefit from Forex trading do not have time to watch trading screens all day long. Channel trading allows you to trade entry and target points into the future using pending orders. This allows you to automate your manual trading so that you only need to review the charts once or twice a day.
The course covers topics such as how to find channels, the rules for channel trading and advice on the tricks and traps of Channel trading. An MT4 channel indicator is included in the course that will automate the drawing of channels for you.
There are many other reasons why Channel trading is so popular:
- It produces exceptional results with good success rates
- Ideal for US based traders as FIFO, Hedging and leverage are not limitations.
- Can be used in range bound and trending markets. Very few trading techniques are successful in both types of markets.
- Decisions can be made using any time-frame. Better results are obtained using multi time-frames to make your trading decisions.
- Can be highly mechanical and rule based. This makes it easier to learn and teach and automate.
- Has fixed targets and stops. Targets and failure price levels are very easy to determine and this provides a good risk management framework as these are determined before deals are entered.
- Is the only technique that gives you the potential of catching almost 100% of a trend.
- Allows the use of pending orders and following stops.
- Allows you to risk the exact same % of your account on every trade as it has known starting stops
- Gives very early signs of failure allowing you to get out of or reverse direction on deals very easily.
- Only required one active trade per currency.
Please note that in this course we will only cover straight line channels