Trend Following - and a specific system well-defined
"Trend is your friend" and trend following systems provide an edge, and forex is the right market to trade the trend following systems because it often trends... lots of good books and pro trades say this.
OK, great, but many people including myself ask: "Fantastic, sounds good, I buy it, but how?" How exactly to trade? How do I do "trend following"?
Read on for my take on the channel breakout system, as defined by Courtney Smith in his book called: "How to Make a Living Trading Foreign Exchange: A Guaranteed Income for Life".
It offers a specific, almost mechanical set of rules to trade forex, in a trend following method, on an end of day basis.