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Old 21-04-2016, 05:13 AM
BearMe BearMe is offline
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Default How to get more profit with the Channels System

This article is dedicated to new traders who are yet to master the act of Forex Trading. We’ll be looking

at how you can use the Channel tools.

The Channels are a common tool in technical analysis which is used to trace when to buy or sell. A

channel is made of Tops (Support) and Bottoms (Resistance).

Before you proceed, you must learn how to create a channel. Here is the Channel Video Tutorial that

will show you exactly how to do so.

The Channels strategy is usually used in addition to basic trading strategies. Open a chart and apply the

Linear Regression Strategy to begin. (See the Video from the link above to learn how).

With the help of the channel strategy, you will be able to open deals in the direction of the trends every

time when the channel border is reached.

The Signal to open an order occurs when price hits the zone plus or minus 5 pips from the line of the

channel. (As indicated in the Video).

After opening the first deal, you should open more deals from each point on the channel as explained

above. At the end of the trend, you will have gotten more profit. The profit of the first deal is usually

bigger.

The condition of this strategy is that you can only apply it after opening the first deal. Once you have

identified the trend correctly using the channels, then you can go ahead to open more deals.

Warning: Do not open deals before important news. So always check news updates.

Last edited by BearMe; 21-04-2016 at 06:21 AM.
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