Breakout Traders ~ forex trading hours in uk
Breakout traders tend to focus on trendiness combined with trading channels, and attempt to profit from a currency that breaks above resistance or below support. Such traders are assuming a break of
technical barriers will lead to a continuation of the move. Breakout traders are similar to trend traders in that they require the market to move in the intended direction before they are willing to enter. Accordingly, this strategy comes with the same difficulties faced by trend traders; buying
at high prices and selling at low prices. nonetheless, should the market actually continue to move following the technical breach of support or resistance, the gains could be significant. Like trend trading, this approach to trading offers traders relatively low odds of success for each given trade, but the hope is to catch a big enough winner to return a profit despite numerous losses beforehand.
“I believe the very best money is made at the market turns. Everyone says you get killed trying to
pick tops and bottoms and you make all your money by playing the trend in the middle. Well, for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.”—Paul Tudor Jones
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