Does Magic Breakout Forex Strategy Really Work or Is it a Scam? Here is a review of T&J Profit Club's Program:
Breakout trading can be extremely profitable if you know what you’re doing. If you call a breakout and you are right, you can amass a healthy pile of pips in mere minutes. The problem is false breakouts. Very few traders can accurately distinguish the real breakouts from the false.
In false breakouts, price action will quickly retrace itself, whereas in a true breakout this will not occur. Unlikely traders who mistake false breakouts for the real deal will suffer significant losses. For this very reason, the majority of traders do not trade breakouts.
A couple of notable exceptions are Julie Lavrine and Tim Trush, successful breakout traders who have created the Magic Breakout Forex Strategy. Julie and Tim have spent years perfecting their breakout trading methods, and in their guide they share these proven strategies with readers.
The Dangers of Breakout Trading
When momentum traders anticipate a breakout on the high side, they will typically place a buy stop order at the significant high of the price action. If a breakout on the low side is anticipated, they will place a sell stop order.
In the event the breakout does occur, the price action rise or fall with significant momentum which will depend on whether the breakout is on the high side or the down side. The buy stop or the sell stop order act as a safety measure, and will see that the order is filled in a true breakout, but not filled if it is false.
Trading Breakouts Like a Master
Since false breakouts can result in significant losses, successful breakout trading hinges on the trader’s ability to distinguish between the true and the false. This is exactly what Julie and Tim will teach you to master in their guide. You will learn how to master double top and double bottom patterns, which experienced traders use to distinguish true from false breakouts. You will also learn how to properly use descending and ascending triangles.
Mastering the correct interpretation of these charts is no easy task, but the guide walks you through the process in an easy to follow step-by-step process. You will benefit from the years of experience they have amassed trading breakouts, and learn to see the charts the way they do. They will explain how you can use the Channel Commodity Index Indicator to correctly identify breakouts, and avoid getting burned by false breakouts.
Using the CCI Indicator
If you are not familiar with the CCI Indicator, fear not. Julie and Tim provide a detailed explanation of what it is and how you can use it to separate the real breakouts from the false. Once you master this technique you will feel comfortable and confident trading breakouts, as their system has proven to be highly accurate and consistent. Millions of dollars are made successfully trading breakouts each month, and the Magic Breakout Forex Trading Strategy will show you how to get in on the action and earn some serious money in the Foreign Exchange Market.