Most people invest in the foreign exchange markets if not everyone wants or needs to increase their profits trading there. The news of the goods is that I will tell you how to do it with very little extra work required of you. The key to exploiting your profits is not just to say a little, but significantly increasing them over a very short period is a technique I call "Triple Header Confirmations." Since most traders already have at least one Forex trading system, it is that we will focus most of our attention.
If you already have a currency trading system more than likely, this is some type of automated trading system that makes periodic trading recommendations for a particular currency. Well, if I told you, with very little work, you could increase the percentage of trading recommendations that are correct from its current average to a much higher percentage.
Your profit percentage for current systems will vary depending on the system you are currently using. With triple-header verification, your profit percentage will jump to somewhere in the neighborhood of 72%. Do you know what is right in the currency markets 72% of the time it buys and takes you? All you want to own and wherever you want to go is the answer!
Confirming triple headers is a very simple concept to understand and even easier to implement. In essence, it comes down to confirming the trading recommendations you receive from your current Forex trading system with another Forex trading system that studies the market using different criteria than your current system.
There are three main forms that these systems come in, the trend based system, the signal based system, and the formula based system. The first step is to determine what type of system you currently have and acquire a different type of system. The second step is to turn off automated trading features on all systems, as we don't trade until we receive three confirmations for the same trading recommendation.
The third step is pretty obvious when you ever get a recommendation from any system, then look at the other system to see if it makes the same recommendation. Remember that these systems use different criteria to make a recommendation. If we get the same trading signal from two software systems based on different mathematical algorithms, this is a very strong trading opportunity.
We now have double confirmation, which is a killer money maker. But, I don't just want to be rich, but stinking rich. If that's right with you? I thought so! Therefore, we will also look for a third confirmation that if and when it is received, it is time to mortgage your house to enter this trade. It's not that strong, but if challenging it is huge. What you are doing now is to check your RSS feed from Reuters, BBC or CNN, which is looking for the ONLY breaking news regarding the currency for which the Forex software systems make the recommendation.
It does not happen often, only once or twice a week. Yes, patience is needed. Yes, there is a lot of down time and tedious activity trying to get confirmation of the triple title. Yes, there are a lot of disappointments when you get the second confirmation, but you can't get the third one. Yes, you need to be extremely disciplined and stay focused.
But when you first get the confirmation of the triple title and see how the profits start to roll when you first trade, then you will find that the pain is worth the profit. You have it in place, a tried and true procedure for exploding your trading profits through your current Forex trading system. After a few weeks of trading, you will also switch to a cash trading machine. And be smiling all the way to the bank.