Trading currencies in the Forex Market is a great way to grow your account and generate an income.
It's also incredibly difficult to do well. Even if you have the time, knowledge and discipline required to be profitable, it can still take years of hard work before you start seeing any real results.
Take The Pips makes trading simple by providing members with everything they need in one place - including market analysis, live trade discussions, trade ideas for over 20 currency pairs, plus access to our private community where traders share their insights on everything from technical analysis strategies through to risk management techniques.
We've taken all the guesswork out of trading so that anyone can learn to become a successful Forex trader without wasting months or years learning how the markets work first! Use our Trading View indicators to help guide you through your trading journey. Take The Pips have built an "in-house" indicator that combines many elements for use - even on the free Trading View account.
And they appear to be extremely effective whether your preferred trading style is scalping or swing trading.
In this example, (ignore the first SELL on the far left) this shows Monday 30/08/2021 to Friday 03/09/2021. If you enjoy swing trading, you could have placed a sell position at the second SELL from the left (which landed at 08:15 on Monday 30th) and closed out at around 300 pips profit on the Friday.
Personally, I don't have the patience for long term trades, so I prefer to scalp with occasional stacked positions along the way. Just yesterday, I claimed 120 pips from the market on the currency pair GBPAUD [20 + 30 + 50 +20] - and for those of you that know me, will know GBPAUD is my favourite currency pair and pretty much the only pair I trade during the London and New York sessions.
As this currency pair is currently in a down trend, I am only taking SELL alerts below the grey line and closing them when I get a BUY alert (sometimes before depending on my gut feel).
For the eagle-eyed experienced traders, you will notice a colour changing Moving Average on the price chart with additional support and resistance lines. And some might ask why don't you get in to the trade when the colour changes? Well it can change and then change again fairly quickly, hence waiting a little while for confirmation that it is staying red or green.
Obviously I discuss this in more detail in live discussions over in the members FB group, so if you'd like to know more... simply hit this button below.