Breakout Strategy - The Pro's Way
Hello everyone,
I thought it would be a good idea to start this article because I am currently breakout trading on the 15 minute chart with some success.
The point is, I know a lot of people trade channel breakouts etc. but everyone has different entry and exit rules. I wanted to try to identify the difference between traders who trade breakouts that are unsuccessful and traders who use breakouts to make consistent profits.
Basically, I have been trading this way for 3 months, but only on a demo account. I want to go live, but just want to ensure that this actually works in the real world. I know psychology has a lot to do with this, but generally speaking, it's a profitable way to trade.
Please people share your thoughts on this so that every trader here can be profitable.
I thought it would be a good idea to start this article because I am currently breakout trading on the 15 minute chart with some success.
The point is, I know a lot of people trade channel breakouts etc. but everyone has different entry and exit rules. I wanted to try to identify the difference between traders who trade breakouts that are unsuccessful and traders who use breakouts to make consistent profits.
Basically, I have been trading this way for 3 months, but only on a demo account. I want to go live, but just want to ensure that this actually works in the real world. I know psychology has a lot to do with this, but generally speaking, it's a profitable way to trade.
Please people share your thoughts on this so that every trader here can be profitable.
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