Forex Trading - 3 Simple Tips for Triple Digit Profits

| Posted: 13-01-2008 | Comments: 0 | Views: 23 | Rating: (50)

(?)

If you incorporate these two tips in your forex trading strategy then you can increase your forex profits dramatically and really supercharge your gains so here they are. The first one is.

1. Reduce Your Trading Frequency

Many traders think the more they trade the more their profit potential will be and they don't like not being in the market in case they miss a big move. They end up trading to much and taking low odds trades and lose.

You don't get rewarded for how often you trade - you get rewarded for being right with your trading signal and that's it.

I know trades who trade only a few times a year and make triple digit profits.

Their not interested in the buzz of trading, just taking trades they know will be big trends they can hold and make money with.

2. Do Not Diversify!

You will here a lot about not putting your eggs all in one basket as a way to reduce risk but there is a problem - it dilutes profit potential and most traders who start trading in forex simply don't have big enough accounts to diversify.

When you see a high odds trade on your forex trading system then you need to focus on it and not be tempted take other marginal trades for the sake of it, this leads onto the next point.

3. Load the Trade Up

Another common wisdom is only risk 2% per trade - but for most forex traders this is too little and simply ensures they get stopped out by normal volatility.

Let's say you are trading a small account of $3,000, risking 2%, that's just $60!

You won't make much risking that.

Risk and reward go hand in hand, so the more you risk the more you can make.

This doesn't mean that you have to be rash but you need to take calculated risks at the right time and if you believe in a trade load it up.

If you have a small account then you should be risking between 10 - 20% on these trades. The high odds trades don't come around often, so you need to milk them for all there worth.

Finally....

If you don't like risk or try and restrict it to much, you will simply consign yourself to failure. You also need to have the courage to hit trades hard at the right time and be patient to wait for the high odds set ups to emerge.

If you are a trader who wants to make more money from their trading then the above 3 tips will help you do so and enjoy currency trading success.

Rate this Article:

Current: 0 / 5 stars - 0 vote(s).

Article Tags: Forex Trading, Currency Trading, Forex Success, Fx Trading, FOREX, Forex Trading Tips, Forex Profits

Article Source: http://www.articlesbase.com/currency-trading-articles/forex-trading-3-simple-tips-for-triple-digit-profits-303097.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:

New! 2 x FREE Essential Trader PDF's

For a wealth of free Forex education and 2 x essential reports with essential Forex Trading info visit our website at: http://www.learncurrencytradingonline.com

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

Forex Trading - the 3 Keys to a Winning Trader's Mindset
By: Sacha Tarkovsky | 19/07/2007 | Currency Trading

Forex Trading 101 – 7 Tips for Forex Trading Success
By: Sacha Tarkovsky | 22/05/2007 | Currency Trading

3 Shortcuts To Becoming A Top Forex Trader
By: James Woolley | 14/07/2008 | Currency Trading

Learn Forex Trading - 4 Key Points for Success Part 1
By: Sacha Tarkovsky | 11/07/2007 | Currency Trading

Currency Trading - This Equation is Vital to your Currency Trading Success!
By: Monica Hendrix | 17/12/2007 | Investing

Forex Trading – if you Work to Hard you Will Lose!
By: Kelly Price | 14/06/2007 | Currency Trading

Forex Trading - the Secrets Behind Making Money With Forex Trading Systems
By: Nelson Woolwine | 04/04/2008 | Currency Trading

Forex Myths - Believe These 10 Common Myths and you Will Lose
By: Kelly Price | 24/11/2007 | Currency Trading

Got a Question? Ask.

Ask the community a question about this article:

Q&A Powered by:

Latest Currency Trading Articles

Build Your Investments With Global Forex Trading
By: Rick Williamson | 10/10/2008
Global forex trading (forex, of course, meaning the foreign exchange market) has become more and more popular in the last few decades, mostly due to the advent of the global economy. Never before has our economy been so intertwined with every other country.

Forex Training - These Traders Learned Forex in 14 Days and Made Millions!
By: Kelly Price | 10/10/2008
Here we are going to look at forex training and a famous experiment when a group of traders with no experience were taught to trade in 14 days and then went onto make $100 million in profits. Let's see how they did it and what you can learn.

Forex Trading Tips - 4 Tips You Must Understand to Win at Forex
By: Kelly Price | 10/10/2008
Here are 4 Forex trading tips that if you understand them, can allow you to enter the elite 5% of winners who make big long term consistent profits. Anyone can learn currency trading and win but these 4 points need to understood - here they are...

Free Forex Trading System - the One Enclosed is Free But Does it Work?
By: Kelly Price | 10/10/2008
Yes it does and it's made countless millions, for savvy traders all over the world and beats most of the forex robots sold. In this article, we will show you how and why it works and why this free Forex trading, could bring you currency trading success.

Forex Trading to Success
By: Shawn Burgy | 10/10/2008
Forex Trading to Success: Learn the ins and outs of Forex Foreign Currency Trading. See the financial factors and how to use them to better trade in the Forex Market. Financial forecast's in the state's of the country's you are trading in have a big factor. Learn how to use these factors to your financial Forex Trading advantage.

Best Currency Trading System - Finding the Best for Profits
By: Sonia Kristina | 09/10/2008
Is there a single best currency trading system? The answer is no there are several, depending on your aims and risk tolerance. This article is all about finding the best ones and avoiding the bulk which lose money...

The Best Forex Education - Where to Find it
By: Sonia Kristina | 09/10/2008
The best forex education can mostly be found for free and here we will look at how to find the best and help you formulate a trading strategy for triple digit gains...

Trade Forex for a Living - Do You Have What it Takes to Succeed?
By: Samuel Leslie Berkovits | 09/10/2008
The fact is anyone has the potential to trade forex for a living not everyone will do what it takes to succeed. So what does it take to enter the group of traders who trade for a living? Let's find out...

More from Kelly Price

Forex Training - These Traders Learned Forex in 14 Days and Made Millions!
By: Kelly Price | 10/10/2008 | Currency Trading
Here we are going to look at forex training and a famous experiment when a group of traders with no experience were taught to trade in 14 days and then went onto make $100 million in profits. Let's see how they did it and what you can learn.

Forex Trading Tips - 4 Tips You Must Understand to Win at Forex
By: Kelly Price | 10/10/2008 | Currency Trading
Here are 4 Forex trading tips that if you understand them, can allow you to enter the elite 5% of winners who make big long term consistent profits. Anyone can learn currency trading and win but these 4 points need to understood - here they are...

Free Forex Trading System - the One Enclosed is Free But Does it Work?
By: Kelly Price | 10/10/2008 | Currency Trading
Yes it does and it's made countless millions, for savvy traders all over the world and beats most of the forex robots sold. In this article, we will show you how and why it works and why this free Forex trading, could bring you currency trading success.

Vitamins and Erectile Dysfunction Which Vitamins and Minerals Should You Take?
By: Kelly Price | 06/10/2008 | Men's Health
Erectile dysfunction and vitamins are linked and by taking the right vitamins and minerals and other key nutrients, you can help repair your libido but which ones are best? Let's find out...

Forex Trading - the Reason Most Traders Can't Accept Big Profits and Bank to Soon
By: Kelly Price | 06/10/2008 | Currency Trading
It may seem odd but traders who get trend direction right, bank their trades to early for a marginal profit, when they could have had a huge one and the reason this happens is they make fatal mistakes that are routed in their mindset...

Forex Mistakes - Why Ego Problems Cause Most Traders to Fail
By: Kelly Price | 06/10/2008 | Currency Trading
One of the biggest forex mistakes you can make is letting your ego get involved in trading. While it is not seen as a major problem it is and causes the demise of most new traders. If you want to win, understand ego problems and how to combat them...

Erectile Dysfunction - Herbal Treatments That are Proven to Work
By: Kelly Price | 06/10/2008 | Men's Health
If you want to cure erectile dysfunction, there are herbal treatments that work and the reason they do is - you are what you eat! By feeding your body the right fuel, you can heal your body. Let's look at the best herbs to treat impotence.

Beat the Credit Crunch -a Simple Way to Make Make Money Fast for Everyone
By: Kelly Price | 06/10/2008 | Wealth Building
If you are worried about the financial crisis, then the simple home business enclosed can help you beat the credit crunch and earn a great second or even full time income and make money fast...

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (1.42, 17)

Forex Trading - 3 Simple Tips for Triple Digit Profits

Article Comments

Related Articles

Got a Question? Ask.

Latest Currency Trading Articles

More from Kelly Price

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter