Business Finance

Archive for the ‘Currency Trading’ Category

Does getting 10 pips per day seem out of your grasp? I know that if you’re struggling that can seem like a mountain that can’t be climbed.

I know what it’s like. One day you make a profit. Then the next day you are losing, and it wipes out the profits. It goes back and forth and back and forth.

You feel like you can’t get ahead. I’m going to tell you how to solve this issue. You need to stop focusing on just the day. You need to open up your mind to looking at the bigger picture.

You see, when you are trading just on a daily basis, you are too disconnected from what is really going on the day before and the day after…

Instead of focusing on just a day at a time, you need to be looking at the week as a unit. You need to be looking at the whole week. Here’s how this would go:

Before you even begin to think about making money from Forex on a consistent manner, you need to be able to do one thing: minimize your Forex trading risk. The reason is simple: a short string of losses or even one big loss can wipe out the gains of many winning trades.

The question is how you reduce your trading risk? There are many things you can do. Here are a few tips:

1. Cut down the leverage, please – It’s nice to trade with a 400:1 leverage. Your mind can begin reeling with all the money you can do with just one good trade. After all, even if your trade goes up by 1% only (which is a lot in Forex) you will earn 400% on your money. Why not, right? The answer is that your risk will also increase. If your trade drops by 0.25% your entire deposit will be wiped out.