If you get on a few big trends, you can get rich quick. For example, in the current DAX trend, if you averaged into a $200 per pip position soon after the breakout in December, you would now be up by over $200,000. It’s even better if you keep adding small amounts on pullbacks. Anyway, if you get one or two of those per year, you’ll on your way to easy wealth.
The trouble, of course, is finding an early TA trend that has a sound FA basis for long continuation. It is always tempting to think, “It’s already moved a long way, so it’s probably over now.” Even after you’ve found a good trend, you need to know how to manage a trade - get your early entries right, then be firm regarding your exit.
So I thought this thread could be like a sticky, for people to suggest big trends to follow. The CFD sub-forum is quiet, so I’ll try to update it regularly to get more views.
Note that it is preferable to find something with:
For example, Iron Ore is bad because the guaranteed stop loss requirement is too large, it is hard to get accurate prices, and it is too volatile. But Crude Oil is good, although it can be volatile.
- a reasonable guaranteed stop loss,
- no expiries or strange trading hours, and
- not too much volatility.
For now, I’ll show three charts as examples of mega-trends that could have easily made over $100k each - an index, a forex pair, and a commodity, together with the FA trigger:
DAX rose in 2015 due to ECB stimulus:
EUR/USD fell in 2014 due to Greece debt problems, QE, lowered interest rates, and US policy to strengthen the USD:
Crude Oil fell in 2014 due to fracking, which increased supply to glut levels:
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If you get on a few big trends, you can get rich quick. For...
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