Of the many trading methods available out there there is one that has been recently realized and that is amazingly simple and uses the forex trading platform of your choice. This trading method will show you how to build your own indicator suite based on the author’s recommendation, but this method is not only colored screenshots, it will allow you to make a profit very often, in fact more often than you think.
It is important to mention that the author doesn’t recommend The Rubber Band Method in a fast 5, 10, or 15 min timeframe, he says 30 min to 4 hours is the optimum time frame for his forex trading system. However, some traders who like fast trading can do it in a 10 min chart, and even in the 15 min chart. It is beyond question that in a chart faster than 10 min, you will be trading “market noise”, and your pips will be limited.
His stop loss/limit ratio for money management is really good. By using RBM formula for setting stops and limit orders for profit targets, you can even lose 1/2 of your trades and still come out way ahead in profit.
You will learn a lot from this simple method. It only uses his RBM custom indicator and one other technical indicator making your chart really simple and uncluttered. Additionally the system is so simple that it practically screams at you indicating when to take the trade and when you should take your profit.
The author of the Rubber Band Method looks at his trades in the morning and in the evening to see what’s happening. This means that if you have a day job, this is perfect for you.
He recommends demo trading this system for two months before using real money, but maybe that’s pretty conservative. If you understand it, start trading live money within a week or two! Just make sure you really do understand the RBM for forex trading and the one rule it teaches. You will make money, and lots of it.