NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential info and more on Forex Trading Success visit our website at: http://www.learncurrencytradingonline.com.
If you are thinking of trading forex or trading already and only making marginal gains, here are some simple tips to increase your profit potential - these tips are all about making more money and there easy to do, here they are...
Learn the 80 - 20 Rule
The Pareto Principle or 80-20 Rule, states that a small number of causes (20%) is responsible for a large percentage (80%) of the effect.
The principle is based on the conclusions of Vilfredo Pareto, who observed that 80% of income in Italy was received by 20% of the Italian population. You often see this in business where 20% of the client base generates 80% of the income.
Of the things you do be it in business or other areas of life, only 20% of what you do really matter in terms of enriching your life.
In forex trading the way to se this is probably 20% of the trades that you take matter 80% are marginal. Many traders simply trade too much cut back you're trading dramatically.
You don't get paid for effort in forex trading you get paid for correct market timing and nothing more. All the people who day trade or always want to be in on the action are wasting their effort on trades that don't matter.
I know traders who focus on high odds trades trade a few times a month and clear 100 - 200% profits annually. They only trade high odds trades and when they do they do this
Hit High Odds Trades Hard
They hit the high odds trades hard risking 10 - 20% of equity on them. You will have probably heard the well worn wisdom risk 1 or 2% but with risk goes reward and you are not going to make much risking a small amount.
If you have been patient waiting for a high odds trade - hit hard the odds favor you! This is not being rash it's the basis of successful speculation.
Don't Diversify
Many traders think they need to diversify to spread risk - well risk is really related to your judgment and spreading them around, won't help you and on a small account, it's not possible to diversify, as you can't risk enough to make a meaningful gain.
Forget diversifying don't dilute a high odds trade with marginal ones just for the sake of it.
Have the courage of your conviction and hit the high odds trades, risk as much as you can and don't dilute the profit potential.
If you operate a long term trend following system based upon the above tips, you can trade in under 30 minutes a day and hit the best trades and trends and make triple digit profits. So concentrate on them and enjoy currency trading success.
- Related Videos
- Related Articles
- Ask / Related Q&A
- All About Forex and Currency Trading System part 1
- Forex Market Currency Trading
- How To Profit With Forex Online Currency Trading
- Currency - Forex Online Trading - Can Newbies Make Money With Forex Online Currency Trading?
- Forex Online Currency Trading - Tips on How To Be a Dominant Forex Trader
- Forex Online Currency Trading - Learn How to Dominate the Forex Market
- Understanding Forex and Currency Trading
- INTRODUCTION TO FOREX TRADING( CURRENCY TRADING)
The Ultimate Forex Trading Indicator
By: Steve Rising | 02/01/2010It seems that we now only put value on complexity or what we often label as "advanced". The buzzword today in trading is "indicators, indicators, indicators". Which one is the best?
What do you know about the world of Forex?
By: Paul Ingersole | 02/01/2010The majority of currency exchange transactions take place over the internet. There are also major trading centers located in London, New York Tokyo, and Singapore. Currency exchanges can also take place inside of almost all banks.
Forex auto trade – How to get monthly cashback form forex trading
By: Douglas Smith | 02/01/2010Forex auto trade is a way of making money on the forex markets by using forex auto trade trading systems. The most widely used trading platform in forex auto trade is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into forex auto trade.
Forex automated trading – How to get monthly cashback form forex trading
By: Douglas Smith | 02/01/2010Forex automated trading is a way of making money on the forex markets by using forex automated trading systems. The most widely used trading platform in forex automated trading is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into forex automated trading.
Forex introducing broker – How to get cashback from forex trading
By: Douglas Smith | 02/01/2010Forex introducing broker, in other words a broker that uses that metatrader platform for trading make money on spreads and commissions. When your turnover is very large, your broker make a lot of money from your trading. Is there a way to get a discount or cashback on all this money your Forex introducing broker is making from your trading?
Auto forex system trading – How to get monthly cashback form forex trading
By: Douglas Smith | 02/01/2010Auto forex system trading is a way of making money on the forex markets by using Auto forex system trading systems. The most widely used trading platform in auto forex system trading is the Metatrader 4 trading platform. It has several advantages. For example, by using so called Expert Advisors you can trade forex automatically even when you sleep. Forex Megadroid, FAP Turbo and Forex Shocker is among the most popular Expert Advisors that you can use if you want to get into auto forex system tra
Phil and Teds Vibe Baby Stroller Review
By: Russell Dickenson | 02/01/2010Here is a review of the Phil & Teds Vibe buggy. The pushchair is a 3 wheeler buggy that you can convert to a tandem pushchair. Very economical if you have a infant and another baby on the way. Read on
Successful Currency Trading - Simple Tips to Get You on the Road to Trading Success
By: Kelly Price | 01/01/2010Successful currency trading, is a combination of a logical method and the right mindset and it's a fact that anyone can learn to trade currencies successfully if they want to and in this article, we will look at some simple tips to get you on the road to currency trading success.
Successful Currency Trading - Simple Tips to Get You on the Road to Trading Success
By: Kelly Price | 01/01/2010 | Currency TradingSuccessful currency trading, is a combination of a logical method and the right mindset and it's a fact that anyone can learn to trade currencies successfully if they want to and in this article, we will look at some simple tips to get you on the road to currency trading success.
Forex Trading Method - An Easy Method Anyone Can Learn and Use to Make Huge Profits
By: Kelly Price | 01/01/2010 | Currency TradingThe Forex trading method we will look is a proven way to make money and can be learned by anyone. If you are prepared to study for a couple of weeks and have 30 minutes a day to devote to trading, your all set to enjoy a great second income.
Forex Education - The Facts All Winning Traders Understand and Can Lead You to Huge Profits!
By: Kelly Price | 01/01/2010 | Currency TradingIf you want to win then you need to understand the facts enclosed which all the top traders do. If you learn the enclosed facts and understand them your on your way to currency trading success and a great second income - lets take a look at them...
Hard Erections - The Key to an Erection is Nitric Oxide - Get More Naturally!
By: Kelly Price | 01/01/2010 | SexualityHere we will look at some hard erection herbs which are proven to give you a harder erection which last for longer and in addition, the will increase sexual desire and help you stay harder for longer - let's take a look at them. The herbs we are going to look at, can be found in all the best herbal sex pills for men so you can get them all in daily serving and they don't just boost your sex life they also improve your overall health at the same time.
Hard Erections - The Key to an Erection is Nitric Oxide - Get More Naturally!
By: Kelly Price | 01/01/2010 | Men's HealthThe key to any erection is the chemical nitric oxide, if your body doesn't produce enough of this key chemical no erection can come to fruition. Let's take a look at what it does and how you can get more naturally.
Cure Impotence - Safe and Natural Herbal Cures That Work Fast!
By: Kelly Price | 01/01/2010 | Men's HealthIf you want to cure impotence quickly and naturally you can with the proven herbs enclosed. Not only will they help you get as stiff erection just like synthetic drugs, they will also increase sex drive and overall wellness which is something man made drugs cannot do - let's take a look at the herbs in more detail...
Herbs For Better Sex - Enjoy Better Sexual Performance and More Intense Orgasms Naturally!
By: Kelly Price | 01/01/2010 | SexualityThere are some herbs which have been used for centuries by both men and women to improve sexual performance and sexual satisfaction. If you want to be a better lover the herbs enclosed will help you do just that, lets take a look at how they work.
Female Sex Pills - Boost Your Libido and Your Overall Levels of Wellness Naturally
By: Kelly Price | 01/01/2010 | Women's HealthThe best female sex pills, will help you not only help you recover your libido, they will also give you better health at the same time - lets look at how they work. The best female sex pills, will contain herbs which cure all the major causes of low libido which are outlined below.