Top forex trading strategies
Anyone who has decided to start trading forex would want their money can grow. The question then is how to develop your capital without exposure to risk too great?
Here are some tips that you can apply.
Be patient
This is the most important key: patience. Remember that forex trading is a business that requires persistence, patience and discipline. It's not a business that is full of wonders. No blue fairy who comes at night and give a double advantage just because you have been a good boy today.
Trading also requires adequate knowledge. Therefore you also must be patient in learning any science, tricks and tips on trading. Do not rush, both in learning and conduct transactions. Take it easy so you do not stress.
Do not be greedy
Greed is one of the enemies of the traders and unfortunately very concerned with the impatience of a trader in trading. In this case is the lack of patience in collecting profits for the sake of profit.
For example, you already earn profits in accordance with the targets that were estimated based on the analysis performed. When the price has reached the target, what do you do? If you are the type of trader that apply to the super disciplined trading plan, you will close the transaction.
But most traders it would hope to gain greater. Wrong these desires? No, as long as you have a good reason for it.
You may only expect greater profits for these desires argument rests on the right. For example: your target has been achieved, but at the same time you see that the resistance (or support) the key that day was translucent with a valid and significant. If that's the case, please slide your profit targets even further. As anticipated, activate the trailing stop, so that if the prices reversed course you will not lose money. By doing this, does not mean you violate trading pan, but rather to adjust the trading plan (to be flexible, not rigid).
But if you expect a greater profit without any valid reasons as the above example, then be careful because it may have mastered your greed. You should not contribute to the profit target just because of principled, "Anyway, I have to big profits today."
Multiply comfortably
Please attempted double profits by increasing the number of lots by adjusting the trading plan.
For example, you have a capital of $ 10,000.
At the beginning, you have established risk limits per transaction is 10% of the equity. At the beginning, your equity is only $ 10,000, it means that every time you make a transaction that will bear the loss should not be more than $ 1,000. Suppose you notice that the Stop Loss should be placed at a distance of 1000 pips (5 decimal places) of the entry level, then you can open a position for 1 lot.
If it turns out you successfully make a profit, for example, $ 2,000, then when it's your equity increased to $ 12,000. Say then you see there is an opportunity to open positions with stop loss limits as far as 1000 pips as well, then at that time you may open a position of 1.2 lots. And so on. (Calculation why be 1.2 lot you can learn here.)
Accordingly, the risks you face to any open transactions will not be more than 10% of your equity. Risks remain intact, but the multiplier (lot) may be greater so that the chances of your profit becomes greater.
So how to increase your capital without being haunted risks are also becoming increasingly larger. You are interested in trying?
If you are interested in trying, our advice redeeming a demo account first. Please get here plus the live chat facility that you can do with a team of Research & Market Analyst FOREXimf.com. The team is made specifically to cater questions about forex trading.
In fact, you can ask some more if you open a real account together FOREXimf.com. Not just basic tips like in this article that you can get, but even you can also consult the current market situation. You can even get information about current opportunities directly to your phone via WhatsApp.
