Currency fluctuations (also known as market volatility) is the primary driver for profit opportunities. The key is to enter your trade as close to the support level as possible and let your trade play out to the level of resistance. Of course there are numerous strategies and ways of profiting in the forex market, but the foundation is entering at support levels and exiting as close to the level resistance as possible. So it’s important that you have a very strong understanding of how support and resistance levels.
As you begin to trade, you will see that the majority of your trading profits is made up of small wins and losses. But you will also begin to recognize occasional “homerun” situations. This is where you can exponentially grow your yearly profits by successfully exploiting these situations. The strategy behind taking advantage of these trades really isn’t much different from the normal trades you make; the money is bigger. So keep your objective mindset, stick to your strategy, and go get your big money.
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