These are time tested and proven winners that will help even the newest of forex traders to turn consistent profits day in and day out.

1. Use the RSI (Relative Strength Indicator). This is a really good instrument to use if you believe in technical analysis. It is actually an oscillator that is based upon overbought or oversold conditions. It moves between 0 and 100. One of the best ways too use this instrument when it comes to fx trading is to buy or go long when the oscillator moves up from below 20 and continues going upward. Conversely, sell or short the currency when it comes down from 80. Like most tools of technical analysis, I recommend using this in conjunction with other indicators, especially non lagging technical indicators.

2. Trade currencies that are above their 200 day and/or 50 day moving averages. This is what the big money tends to do with currencies and I suggest you always trade in the direction of the trend (remember that the "trend is your friend"). The truth is that this measurement tool is only valuable because the big institutions that move the market use it not because the 50 or 200 day moving average really means that much.

3. Trade the news before the masses can do so. I once wrote an article on how to get press releases and get in touch with various news agencies to access economic data early. Without going to far into this, it is a consistent winner. Getting to the news before the individual investors move in is a true advantage.

4. Get your hands on really accurate and proven fx trading software. The key is not paying too much and going with a very reliable software package. I have included two of the best software packages that I know of in the links below.

Good trading ahead.