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Enclosed we are going to give you a simple tip that many forex traders ignore in their pursuit of profits but if you learn it, you will increase your profit potential and enjoy greater currency trading success.
If you want bigger forex profits now then read on.
If you have a forex trading strategy it should have one aim and one aim only –
Making bottom line profits
To do this you need to get catch and hold the big currency trends that offer you the big profits and have the odds heavily in your favour when you enter them – and they don’t come around often.
These trades only come around a few times a year in each currency, so the rule is:
Cut down your trading and bet big on the trades that offer you the most favourable odds.
Where Most Traders Go Wrong!
They make two major errors which are:
1. They equate frequency of trading with profits.
2. They never bet enough to win meaningful amounts or get stopped out to soon before the trade has run its course.
In forex trading you don’t get your reward for how often you trade you get your reward for being right with your trading signals – nothing else.
Forget day trading it doesn’t work and never will - neither will trying to be in the market all the time. In conclusion be highly selective in your trading.
Also, if you do what most traders do and risk small amounts 2 – 10% of your equity you won’t have high risk but you won’t make much either.
To Win Do This
Focus on trading off support and resistance levels that are considered valid by the market - if they break chances are the trend will continue.
Understand this:
Most of the big moves in currency trading, that offer the best risk reward occur from new Market highs - NOT Market lows, so forget trying to buy dips.
Take a Risk
If you don’t like taking risks don’t trade currencies most traders try so hard to avoid risk they create it and guarantee that they will lose.
Don’t place stops to close and trail them SLOWLY – make sure you keep them back behind the market noise and are not stopped out by normal market pullbacks.
If you can’t take dips in open equity, you will never enjoy currency trading success – so get used to them.
Be prepared to risk up to 25% on high odds trades if trading a small account and have the courage of your conviction - if you believe in your forex trading system bet as much as you can afford to.
Trade the Odds Bet meaningful amounts and
Win big – that’s the whole aim of the above tips.
You can use the above tips and make triple digit gains - by trading just a FEW times a year!
You may say, that’s not the advice I normally see or it’s not the norm but personally I wouldn’t worry too much about as:
95% of traders lose and follow conventional advice – the above may not be conventional but if you’re a trader who simply wants to make money, you will understand why it can lead you to currency trading success.
Good luck and good trading
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