What Smart Forex Traders Do

By October 14, 2017Uncategorized

What Smart Forex Traders Do

  1. Bet enough to make their winnings meaningful
  2. Get in on news that moves the market
  3. Tweak their systems to allow for one time market peculiarities
  4. Take action and make money when they have a good trade idea

 

Bet enough to make their winnings meaningful

If your trading account is $1,000 you can’t limit your losses to 2% of your account because that’s only $20; how much can you realistically expect to win (profit) from a $20 bet?

A bet size of $50 would at least give you a chance to make a meaningful profit.

 

Get in on news that moves the market

Market moving news offers outstanding opportunities to risk a little and make a lot. The trick is to not be afraid to get in right away even if the pair moved a lot in the first few seconds following the news.

 

Tweak their systems to allow for one time market peculiarities

The attractiveness of exact trading systems is understandable; what’s not understandable is letting a great trade get away because it’s a pip or two outside your systems parameters.

 

Take action and make money when they have a good trade idea

Just do it. If you’ve done the research and analysis and everything looks good don’t let it get away by making excuses for inaction.