3 Tips to Making Money in Forex
Most traders struggle to consistently make money. Fortunately,
it doesn't have to be that way with a solid plan and actually
sticking to it.
We have 3 tips for you that will help you to reach your trading
goals. Here they are:
1. Avoid giving up too soon. Don't expect to win all the time,
if you lose some trades, don't give up on that strategy just yet.
There's no such thing as 100% winners. You can lose trades and
So learn to be patient, losing trades don't always mean failure.
2. Stop using unrealistic risk. If you want 100% return in a
week, a few days, maybe even a month, then expect to use a higher
risk. And with that risk there's a chance you will blow out
your account. It's not smart unless you are willing to throw away
the money, then you may get lucky.
Instead, you can make a high return in Forex, such as 10%, 20%,
even 50% in a few weeks or a month, but don't aim for these high
returns with high risk.
3. Don't expect to be able to make a lot of money or a safe return
with a very tiny account. Too often we see traders trying to start
with $100, thinking that it's enough to do anything, unfortunately
at that size you aren't going to make a lot of money and you are
using high risk even if set low, just because the account is so small.
Fortunately, there is some hope for those who prefer smaller accounts,
but we don't recommend $100.