All successful traders have forex trading strategies that they follow to make profitable trades. These forex trading strategies are generally based on a strategy that allows them to find good trades. And the strategy is based on some form of market analysis. Successful traders need some way to interpret and even predict the movements of the market.
There are two basic approaches to analysing market movements, in both equity markets and the forex market. These are technical analysis and fundamental analysis. However, technical analysis is much more likely to be used by traders. Still, it's good to have an understanding of both types of analysis, so that you can decide which type would work best for your forex trading strategies.
In fundamental analysis, you are basically valuing either a business, for equity markets, or a country, for forex. If you think it's hard enough to value one company, you should try valuing a whole country. It can be quite difficult to do, but there are indicators that can be studied to give insight into how the country works. A few indicators you might want to study are: Non farm payrolls, Purchasing Managers Index, also known as PMI, Consumer Price Index, also known as CPI, Retail Sales, and Durable Goods.
Most traders in the forex market only use fundamental analysis to predict long term trends. However, some traders do forex trading strategies that trade short term on the reactions to different news releases. There are also quite a variety of meetings where you can get quotes and commentary that can affect markets just as much as any news release or indicator report. These meetings are often discussing interest rates, inflation, and other issues that have the ability to affect currency values.
Even changes in how things are worded in statements addressing these types of issues, such as the Federal Reserve chairman's comments on interest rates, can cause volatility in the market. Two important meetings that you should watch for are the Federal Open Market Committee and the Humphrey Hawkins Hearings.
Just by reading the reports and examining the commentary, forex trading strategies in fundamental analyst can get a better understanding of most long term market trends. Keeping up on these developments will also allow short term traders to profit from extraordinary happenings. If you do decide to follow forex trading strategies in fundamental analyst, you want to keep an economic calendar handy at all times so you know when these reports are released. Your broker may also be able to provide you with real time access to this kind of information.
Just like their counterparts in the equity markets, technical analysts in the forex market analyze price trends. The only real difference between technical analysis in forex and technical analysis in equities is the time frame. forex markets are open 24 hours a day.
Because of this, some forms of technical analysis that factor in time have to be modified so that they can work in the 24 hour forex market. Some of the most common forms of technical analysis used in forex are: Elliott Waves, Fibonacci studies, Parabolic SAR, and Pivot points.
Many forex trading strategies in technical analysts combine technical indicators to make more accurate predictions. The most common tendency is to combine Fibonacci studies with Elliott Waves. Others prefer to create entire trading systems in an effort to repeatedly locate similar buying and selling conditions.
Whichever form of forex trading strategies in any kind of analysis you choose, it's best to make sure you learn as much as possible about it and your market. Then you will be able to use you knowledge to create a trading system that will suit your needs, and help you to become a profitable trader in the forex market.
Monday, August 13, 2007
How to Read Forex Quotes
forex quotes can be pretty confusing. However, it takes just a little know-how, to read them.
What does a foreign exchange quote look like? Look at the following example:
EUR/USD = 1.2526
The above formula shows the foreign exchange rate between the euro and the US dollar.
Remember that in any forex quote, two currencies will always be present. This is because with forex trading, you are buying one currency as you sell another currency.
The first currency listed in a foreign exchange quote is called the "base currency." The second currency in the formula is the "quote currency." Therefore, forex quotes show us the relationship between prices for the two currencies in the quote.
The exchange rate is made up by showing how many units of the quote currency you have to pay in order to buy one unit of the base currency.
The euro is the base currency, above, and US dollars are the quote currency. The quote shows how each currency trades relative to the other. If you want to buy one euro unit, therefore, you will have to sell 1.2526 US dollar units.
Next is the "bid/ask" spread. The bid/ask spread is the alternative to broker commissions in the forein exhange market. Brokers get paid for their work via the bid/ask spread.
With the bid/ask spread added to the above example, it looks like this:
EUR/USD = 1.2526/1.2528
Simplified, it looks like this:
EUR/USD = 1.2526/8
Brokers make their money when they sell currencies for slightly more than they buy them. This is legal and every broker does it. However, the spread can differ significantly between brokers.
When you trade forex, you buy at the bid price, the first price in the above example. You then sell at the ask price, which is the second price quoted. The difference between those two prices is called a "spread;" this is what the broker makes as his or her profit on the trade.
In the above example, you've bought at 1.2526 and sold at 1.2528. The 0.0002, or two pips, goes to the broker as payment for executing the trade. When you look at it this way, you can see that the bid/ask spread is relatively simple and straightforward; it is a relatively easy way to calculate trading fees and expenses.
Tip
When trading currencies I would recommend that you stick to the seven major currencies. They are as follows:
USD - US Dollar
EUR - the Euro
GBP - British Pound
JPY - Japanese Yen
CHF - Swiss Franc
AUD - Australian Dollar
CAD - Canadian Dollar
What does a foreign exchange quote look like? Look at the following example:
EUR/USD = 1.2526
The above formula shows the foreign exchange rate between the euro and the US dollar.
Remember that in any forex quote, two currencies will always be present. This is because with forex trading, you are buying one currency as you sell another currency.
The first currency listed in a foreign exchange quote is called the "base currency." The second currency in the formula is the "quote currency." Therefore, forex quotes show us the relationship between prices for the two currencies in the quote.
The exchange rate is made up by showing how many units of the quote currency you have to pay in order to buy one unit of the base currency.
The euro is the base currency, above, and US dollars are the quote currency. The quote shows how each currency trades relative to the other. If you want to buy one euro unit, therefore, you will have to sell 1.2526 US dollar units.
Next is the "bid/ask" spread. The bid/ask spread is the alternative to broker commissions in the forein exhange market. Brokers get paid for their work via the bid/ask spread.
With the bid/ask spread added to the above example, it looks like this:
EUR/USD = 1.2526/1.2528
Simplified, it looks like this:
EUR/USD = 1.2526/8
Brokers make their money when they sell currencies for slightly more than they buy them. This is legal and every broker does it. However, the spread can differ significantly between brokers.
When you trade forex, you buy at the bid price, the first price in the above example. You then sell at the ask price, which is the second price quoted. The difference between those two prices is called a "spread;" this is what the broker makes as his or her profit on the trade.
In the above example, you've bought at 1.2526 and sold at 1.2528. The 0.0002, or two pips, goes to the broker as payment for executing the trade. When you look at it this way, you can see that the bid/ask spread is relatively simple and straightforward; it is a relatively easy way to calculate trading fees and expenses.
Tip
When trading currencies I would recommend that you stick to the seven major currencies. They are as follows:
USD - US Dollar
EUR - the Euro
GBP - British Pound
JPY - Japanese Yen
CHF - Swiss Franc
AUD - Australian Dollar
CAD - Canadian Dollar
What is Forex Trading? - An Introduction to Trading Currencies
Forex trading has become extremely popular recently. Do you know what Forex Trading is? What is it exactly and how can you make money from trading currencies if you are not an expert trader? You will find the basic knowledge in this article.
Forex Trading = Foreign Exchange
Forex trading is also called "currency trading" or "FX," short for "foreign exchange." While foreign exchange does not get as much attention as the stock market, options and commodities do, for example, it is nonetheless the biggest market in the world. The foreign exchange market also offers investors a huge opportunity for profit.
When you trade on the foreign exchange, you do not trade stocks or bonds. You trade in currency. Basically, forex trading involves buying one currency and selling another. As exchange rates fluctuate, you make money or lose money.
With forex trading, you don't invest in a single company or group of companies as you do with stocks or mutual funds, for example. Instead, you are investing in a particular national economy. You are pinning hopes on one nation's economic health versus that of another.
As an example, let us say that you are comparing the Japanese yen and the US dollar. Your research seems to tell you that the US dollar is undervalued and will soon rise in price; simultaneously, you expect the Japanese yen will lose some value. In that case, you would execute a trade to buy US dollars and sell Japanese yen. If you are correct, the exchange rate will go up and you will profit from your analysis.
Even though this sounds easy, though, it is not. In fact, currency prices can be very difficult to predict, because so many things can cause a change in exchange rates. You also have to remember that with currency trading, you trade in pairs. Therefore, you buy one currency while you sell another. Therefore, you won't just look at one nation's economy, but you will be comparing two.
Of course, you do not have to limit yourself to just the US dollar and the Japanese yen, for example. There are many dozens of different currencies to choose from, with seven major ones. Therefore, if you are just starting out, I would recommend that you stick to the seven major currencies. They are as follows:
USD - US Dollar
EUR - the Euro
GBP - British Pound
JPY - Japanese Yen
CHF - Swiss Franc
AUD - Australian Dollar
CAD - Canadian Dollar
If you are a small investor, you will generally concentrate on trading these particular currencies.
Forex Trading = Foreign Exchange
Forex trading is also called "currency trading" or "FX," short for "foreign exchange." While foreign exchange does not get as much attention as the stock market, options and commodities do, for example, it is nonetheless the biggest market in the world. The foreign exchange market also offers investors a huge opportunity for profit.
When you trade on the foreign exchange, you do not trade stocks or bonds. You trade in currency. Basically, forex trading involves buying one currency and selling another. As exchange rates fluctuate, you make money or lose money.
With forex trading, you don't invest in a single company or group of companies as you do with stocks or mutual funds, for example. Instead, you are investing in a particular national economy. You are pinning hopes on one nation's economic health versus that of another.
As an example, let us say that you are comparing the Japanese yen and the US dollar. Your research seems to tell you that the US dollar is undervalued and will soon rise in price; simultaneously, you expect the Japanese yen will lose some value. In that case, you would execute a trade to buy US dollars and sell Japanese yen. If you are correct, the exchange rate will go up and you will profit from your analysis.
Even though this sounds easy, though, it is not. In fact, currency prices can be very difficult to predict, because so many things can cause a change in exchange rates. You also have to remember that with currency trading, you trade in pairs. Therefore, you buy one currency while you sell another. Therefore, you won't just look at one nation's economy, but you will be comparing two.
Of course, you do not have to limit yourself to just the US dollar and the Japanese yen, for example. There are many dozens of different currencies to choose from, with seven major ones. Therefore, if you are just starting out, I would recommend that you stick to the seven major currencies. They are as follows:
USD - US Dollar
EUR - the Euro
GBP - British Pound
JPY - Japanese Yen
CHF - Swiss Franc
AUD - Australian Dollar
CAD - Canadian Dollar
If you are a small investor, you will generally concentrate on trading these particular currencies.
Using the Adx Indicator for Bigger Profits
If you're using charts, then you want to trade the strong trends - and the Average Directional Movement Index Indicator, or ADX, enables you to do this.
Wells Wilder developed the ADX, and outlined it in his classic book “New Concepts in Technical Trading Systems”.
Let’s look at this essential indicator in more detail - and see how to apply it on your forex charts, to give you greater accuracy when generating your trading signals.
Determining the Strength of the Trend
The ADX is a momentum indicator, which aims to measure the strength of the trend - and attempts to determine if the market is trending, or is trading sideways.
The Advantages of the ADX
A core belief of technical analysis is that a strong trend in motion is more likely to continue, than reverse. Therefore, you always want to be trading strong trends - as your odds of success are higher. The Average Directional Movement is a good indictor – and you should consider using it as part of your currency trading system.
The Technical Bit
For the boffin’s out there, here’s the technical bit – don’t worry if you don’t understand the calculation, its easy to use when visually plotted. The ADX is based on the comparison of two other directional indicators, both of which were also developed by Wilder, and they are:
Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) to produce ADX as showed in the following formula:
ADX = SUM[(+DI-(-DI))/(+DI+(-DI)), N]/N
Where:
N: Refers to the period of calculation. The formula above produces the ADX line, which oscillates between 0 to 100 values. The +DI and -DI are both present and can be seen to make up the indicator.
You don’t need to understand the above calculation to use the indicator – you only need to accept that the indicator works.
The indicator is easy to use when it’s visually plotted - and you’ll find it included, with most of the good forex chart services.
How to Trade using the ADX Indicator
The ADX it’s not a bullish, bearish trading signal generator - and should never be used as such.
The ADX indicator simply indicates the strength of the trend - and other indicators should be used to enter, and exit trades.
Although the ADX fluctuates from 0 to 100, it rarely moves above 60.
Use the ADX in the following way:
Readings above 40 indicate the strength of the trend.
Readings below 20 indicate range trading and flat periods of consolidation.
You can use the crossing of +DI and -DI to determine the trend direction; when +DI crosses -DI upward, it’s a bullish signal, on the other hand, when +DI crosses -DI downward it’s a bearish signal.
The ADX line is a great momentum indicator and like the RSI (also developed by Wells Wilder), the ADX it will help you trade the strongest trends - and give you advance warning of changes in momentum.
The Bottom Line
If you want currency trading success, you can’t just trade support and resistance levels, and hope they hold or break. You need confirmation of momentum to get the odds on your side - and the ADX indicator will assist you.
Final Words
New Concepts in Technical Trading Systems was published in 1978, and was one of the first trading books I ever bought. Every trader should make this book a part of his or her forex education. If you want to learn forex trading the right way, get the book, and use the ADX indicator to increase your chances of making big FX Profits.
Wells Wilder developed the ADX, and outlined it in his classic book “New Concepts in Technical Trading Systems”.
Let’s look at this essential indicator in more detail - and see how to apply it on your forex charts, to give you greater accuracy when generating your trading signals.
Determining the Strength of the Trend
The ADX is a momentum indicator, which aims to measure the strength of the trend - and attempts to determine if the market is trending, or is trading sideways.
The Advantages of the ADX
A core belief of technical analysis is that a strong trend in motion is more likely to continue, than reverse. Therefore, you always want to be trading strong trends - as your odds of success are higher. The Average Directional Movement is a good indictor – and you should consider using it as part of your currency trading system.
The Technical Bit
For the boffin’s out there, here’s the technical bit – don’t worry if you don’t understand the calculation, its easy to use when visually plotted. The ADX is based on the comparison of two other directional indicators, both of which were also developed by Wilder, and they are:
Positive Directional Indicator (+DI) and the Negative Directional Indicator (-DI) to produce ADX as showed in the following formula:
ADX = SUM[(+DI-(-DI))/(+DI+(-DI)), N]/N
Where:
N: Refers to the period of calculation. The formula above produces the ADX line, which oscillates between 0 to 100 values. The +DI and -DI are both present and can be seen to make up the indicator.
You don’t need to understand the above calculation to use the indicator – you only need to accept that the indicator works.
The indicator is easy to use when it’s visually plotted - and you’ll find it included, with most of the good forex chart services.
How to Trade using the ADX Indicator
The ADX it’s not a bullish, bearish trading signal generator - and should never be used as such.
The ADX indicator simply indicates the strength of the trend - and other indicators should be used to enter, and exit trades.
Although the ADX fluctuates from 0 to 100, it rarely moves above 60.
Use the ADX in the following way:
Readings above 40 indicate the strength of the trend.
Readings below 20 indicate range trading and flat periods of consolidation.
You can use the crossing of +DI and -DI to determine the trend direction; when +DI crosses -DI upward, it’s a bullish signal, on the other hand, when +DI crosses -DI downward it’s a bearish signal.
The ADX line is a great momentum indicator and like the RSI (also developed by Wells Wilder), the ADX it will help you trade the strongest trends - and give you advance warning of changes in momentum.
The Bottom Line
If you want currency trading success, you can’t just trade support and resistance levels, and hope they hold or break. You need confirmation of momentum to get the odds on your side - and the ADX indicator will assist you.
Final Words
New Concepts in Technical Trading Systems was published in 1978, and was one of the first trading books I ever bought. Every trader should make this book a part of his or her forex education. If you want to learn forex trading the right way, get the book, and use the ADX indicator to increase your chances of making big FX Profits.
Forex Trading Strategy – 6 Simple Steps to Success
If you want to win at forex trading you need a forex trading strategy that can help you enter the elite 5% that make money and avoid joining the vast majority of losers.
This article is all about devising a forex trading strategy for success in 5 simple steps.
1. Accept Responsibility
The first point to keep in mind is that you are responsible for your own success – if you think you can buy success from a vendor for a few hundred dollars - you are going to lose.
Only you can make yourself successful and this means you have to develop your forex strategy on your own. The good news is, everything about forex trading can be specifically learned and is free on the net.
2. Learn the RIGHT knowledge
Forex trading is all about learning the right knowledge – This is an important point, many traders simply think the more the better in terms of knowledge, but this is simply NOT true.
You get rewarded for results in currency trading and the accuracy of your trading signals, not the effort you make.
Your forex trading system that you use in your trading strategy should be kept simple and easy to understand. This way, ensures it will be robust in the face of ever changing market conditions.
Simple systems work far better than complicated ones and have the added benefit of being easy to understand by you – This means that you will have the confidence to follow it with discipline.
3. Deciding Your Methodology
You will need to decide if you want to a technical or fundamental trader.
By far the easiest is to be a technical one and use forex charts to spot trading opportunities.
You need to get the odds on your side and this means NO forex day trading!
It doesn’t work, as all short term volatility is random. Instead, base your forex trading strategy on swing trading, or long term trend following.
Both these methods will work and the one you choose is personal preference.
You then need to have a clear understanding of support and resistance and some momentum indicators to help you get into trades ( this is covered in our other articles )essentially you need to confirm price momentum is on your side when you trade.
Finally, learn the concept of “breakouts” it’s a timeless very profitable methodology.
4. RISK and Money Management
If you don’t like risk don’t trade forex markets. Most traders don’t understand risk and are so frightened of it, they end up being to cautious and lose.
If you want to make money you need to take calculated risks, at the right time.
You need to have the courage of your conviction. If you come into forex trading thinking you can risk 2% of your equity and make money do something else, as you will lose.
5. Trading is in the head
Most traders fail because they cannot obtain mental discipline, to follow their forex trading system through bad periods i.e. they lack discipline due to lack of confidence.
If you develop your forex trading strategy yourself, you will understand exactly how and why your system works - this will instil confidence and from confidence flows discipline.
Keep in mind if you don’t have discipline to follow your system you have no system!
6. Realism
Sure people get rich quickly but that’s the norm for most currency traders.
You need to have a realistic forex trading strategy and that means aiming for 50 – 100% per annum.
If you can achieve this you will be up there with the best and this will compound to a lot of money over time.
REMEMBER!
You don’t need to buy any material to construct your forex trading strategy, its all free online.
You just need to research it and avoid people telling you that you can buy success from them, for a few hundred dollars – you cant, there are no shortcuts
The good news is, everything about forex trading can be specifically learned and you can do it all on your own, if you are prepared to put in a little time and effort.
This article is all about devising a forex trading strategy for success in 5 simple steps.
1. Accept Responsibility
The first point to keep in mind is that you are responsible for your own success – if you think you can buy success from a vendor for a few hundred dollars - you are going to lose.
Only you can make yourself successful and this means you have to develop your forex strategy on your own. The good news is, everything about forex trading can be specifically learned and is free on the net.
2. Learn the RIGHT knowledge
Forex trading is all about learning the right knowledge – This is an important point, many traders simply think the more the better in terms of knowledge, but this is simply NOT true.
You get rewarded for results in currency trading and the accuracy of your trading signals, not the effort you make.
Your forex trading system that you use in your trading strategy should be kept simple and easy to understand. This way, ensures it will be robust in the face of ever changing market conditions.
Simple systems work far better than complicated ones and have the added benefit of being easy to understand by you – This means that you will have the confidence to follow it with discipline.
3. Deciding Your Methodology
You will need to decide if you want to a technical or fundamental trader.
By far the easiest is to be a technical one and use forex charts to spot trading opportunities.
You need to get the odds on your side and this means NO forex day trading!
It doesn’t work, as all short term volatility is random. Instead, base your forex trading strategy on swing trading, or long term trend following.
Both these methods will work and the one you choose is personal preference.
You then need to have a clear understanding of support and resistance and some momentum indicators to help you get into trades ( this is covered in our other articles )essentially you need to confirm price momentum is on your side when you trade.
Finally, learn the concept of “breakouts” it’s a timeless very profitable methodology.
4. RISK and Money Management
If you don’t like risk don’t trade forex markets. Most traders don’t understand risk and are so frightened of it, they end up being to cautious and lose.
If you want to make money you need to take calculated risks, at the right time.
You need to have the courage of your conviction. If you come into forex trading thinking you can risk 2% of your equity and make money do something else, as you will lose.
5. Trading is in the head
Most traders fail because they cannot obtain mental discipline, to follow their forex trading system through bad periods i.e. they lack discipline due to lack of confidence.
If you develop your forex trading strategy yourself, you will understand exactly how and why your system works - this will instil confidence and from confidence flows discipline.
Keep in mind if you don’t have discipline to follow your system you have no system!
6. Realism
Sure people get rich quickly but that’s the norm for most currency traders.
You need to have a realistic forex trading strategy and that means aiming for 50 – 100% per annum.
If you can achieve this you will be up there with the best and this will compound to a lot of money over time.
REMEMBER!
You don’t need to buy any material to construct your forex trading strategy, its all free online.
You just need to research it and avoid people telling you that you can buy success from them, for a few hundred dollars – you cant, there are no shortcuts
The good news is, everything about forex trading can be specifically learned and you can do it all on your own, if you are prepared to put in a little time and effort.
2 Simple Tips to Target Bigger Gains Instantly!
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
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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