Forex Trading: Experiencing Low Gains? Simple Tips To Get Triple Digit Gains
In forex trading the bulk of traders experience mediocre gains or lose - this applies to 95% of traders. However many traders are closer than they think to achieving bigger gains and the simple tips below can be incorporated in any forex trading strategy to increase returns ? lets look at them.
1. Trade Less
One of the major problems that traders have is they equate trading a lot with getting more profits and they simply trade too much.
There is NO correlation between how often you trade and how much you are going to make - so the first point is cut your trading back to high odds trades only.
This means hitting the long term trends and turning points that yield the really big profits. The big trades only occur a few times each month in a currency so focus on these.
Forget day trading and scalping - the odds are not in your favour and you are guaranteed to lose so don?t try ? Hit the big trends and milk them for all you can.
2. Risk More
If your trading a small account don?t diversify ( this is another word for diluting potential gains ) so risk more per trade.
If the odds are in your favour you need to increase your bet size.
You will hear a lot of traders saying you should risk 2% per trade! Well if you don?t risk much you won?t gain much ? risk 10 ? 20% per trade and more if you have a total conviction the odds are in your favour.
The enemy of successful forex trading is volatility and you need to have your stop far enough back that you are NOT clipped out by it and trail your stop slowly.
With reward goes risk and that?s a fact.
Most traders are so afraid of risk they create it, by having stops to close and losing.
They think they have a low risk but they may as well have not bothered trading in the first place!
3. Use Momentum
The biggest error traders make is trying to predict ? If you do you will lose.
Why?
If you predict you are hoping a level will hold and the market is not going to reward you for hope.
You need to make sure that whenever you trade price momentum is on your side.
This means missing a bit of the move ? but as you can?t predict it?s the best you can do and it will still mean you can make a lot of money as:
You are trading the reality and always trading with the trend.
If you get 70% of the major trends you will make a lot of money.
Trading The Odds For Bigger Gains
If you like the action and the buzz of trading the above is not for you but if you are interested in increasing profits from your forex trading strategy then you will find the above is logical common sense.
You will be trading the best odds trades, risking amounts that can give you big rewards and timing your entries for maximum profit to lowest risk and this over time means big profits.
GRAB 3 X FREE TRADER & FREE TRADER PROFITS NEWSLETTER More on becoming a profitable trader some critical FREE Trader PDF’s and more FREE Forex Education visit our website at www.net-planet.org/index.html
MOST VIEWED POSTS
-
Successfully Trading The Forex
Perhaps the greatest challenge to mankind is the mastery of self. Doing what one needs to do rather than what one merely wants to do sometimes seems impossible. An honest introspective analysis will often reveal that we are indeed the greatest obstacle to the desired achievement. Our own unproductive habits and lack discipline cause us [...]
-
Wattstrading.com - Forex Scalping Review
I decided to write this review of FOREX scalping after having a chance to check out the system on my own. Is the system really simple and easy to follow? I?ve looked into the claims, and in the review I take an objective look at the hype and the reality. Hopefully, after reading this, you?ll [...]
-
You Don’t Pay Commissions In Forex Trading
The Foreign Exchange market is the largest financial market in the world. In the US alone, it has a daily trading volumes of $1.2 trillion dollars, which outshines the stock, bond, and other commodity markets. But just what is currency trading or Forex trading, as it is more commonly known?
Forex trading is where you will [...] -
Book Forex Trading - How To Find The Best Sources Of Information
Forex trading is well documented today, although that was not the case a few years ago. There was very little literature on it then because the Internet was in its infancy, but has since become the first port of call for anyone wanting to build up a knowledge base on the subject. Book forex trading [...]
-
Forex Trading- What’s Next For The Yen?
For the last couple of years or so, the buzz word in Forex circles has been the ?carry trade?. In fact, it has become popular enough, that even CNBC gave it a mention on number of occasions.
What is a ?carry trade?? In a nutshell, it?s a trade involving two currencies with a large interest [...] -
Forex E-book Of Trading Strategies
With Forex trading, you can be in charge of your finances. It has the reputation for being the largest market in the world, and the cost at the beginning is also low. This industry is tuned to several billions of dollars, and there is the opportunity to earn a lot of money by a few [...]
-
Forex Trading Signal Software - The Features That Every Trader Should Know About
Forex trading signal software is an important part of any trader?s toolkit, purely and simply because it can make the difference between being a success and a failure in the forex market. Trading is about far more than buying the currency that you think will do well and selling that in demand.
In essence, the buy/sell [...] -
Currency Day Trading: The 20 Day Plan
Currency day trading requires discipline and sticking to a strategy. If you have been struggling to make consistent profits, rather than looking at your strategy however, you need to pay close attention to your daily habits.
Here is a 20 day currency day trading plan which you should do for 4 trading weeks of 5 days [...] -
Why More Investors Choose Forex Trades
As more investors grow dissatisfied with the performance of the domestic stock markets, they are beginning to explore some options for international investments. While there are a number of opportunities to get involved in foreign markets, foreign exchange trading is quickly becoming one of the most popular. Investors like forex trades because they are made [...]
-
Forex Currency Forecasting - The First Step To Success
Forex currency trading has turned out to be one of the most talked about online trading options. If you read the views of people about Forex currency trading, you would find that some claim it to be some incredible way of becoming rich overnight while others believe it to be a form of gambling.
But the [...] -
The Euro - A Trading Opportunity Update And Another
We looked at the euro yesterday from both a bullish and bearish standpoint and here we will look at it again and what the recent breakout tells us and look at another trading opportunity.
We never got a signal to the downside instead the euro hit new highs and we went with the breakout.
However the [...] -
Forex Trading Strategy: The Ultimate Momentum Indicator For Huge Profits
Many traders in their forex trading strategy simply pick levels and buy or sell into them and hope they hold. This simply sees them lose, as they are hoping levels will hold and NOT acting on confirmation of price momentum to put the odds in their favor.
Here we are going to look at the ultimate [...]