What Smart Forex Traders Do
- Bet enough to make their winnings meaningful
- Get in on news that moves the market
- Tweak their systems to allow for one time market peculiarities
- 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.