Top 9 tips on making a fortune by trading currencies.

 

Trading equities is not always easy. Especially now with so many changes all over the world happening all at the same time. And you need to take everything in consideration as you are making your way towards a perfect financial future.

But in case you want to arrive faster, you need to stick to these equities market rules in order to be even more successful.

 

1. Treat trading as an art, not math.

2. Use trailing.

3. Trade on logic, not impulse.

4. Set your stop loss at 2 percent.

5. Use all of the analysis tools at your disposal.

6. Always make a strong/weak pair.

7. Consider that you might be wrong sometimes.

8. You can see the risk, but not the earnings possibility.

9. Never make excuses.

 

1. Treat trading as an art, not math.

Generally speaking, all of the trading science is built on watching years and years of watching sort of a painting made by our favorite currency couples. And that is why you need to treat trading currencies as an art, since all of our knowledge technically came from a weird picture, right? Plus, math is always accurate and predictable. Can we say the same for trading? No, no we can’t. And that is only one more reason to treat the process of trading like an art.

Trust me, that is going to help you as you are going to start expecting totally different things from it. as a result, it is a perfect chance to increase your win rate.

 

2. Use trailing.

Trailing technique is just another piece of trading strategy that was built to never let you see you winning trade go drastically down. Try and check it out in case you want to increase your winnings by simply not letting you winning trade become a losing one.

 

3. Trade on logic, not impulse.

Never trade on impulse. Always analyze everything even the numbers that you are going to put down as take profit and stop loss. Everything needs to have a logical explanation. Your every action needs to be weighed in. Remember that with impulse trading you are never too far away from going totally broke.

 

4. Set your stop loss at 2 percent.

This is a mistake that a lot of traders make, even though the answer is pretty obvious. Look at it like this. If you are setting your stop loss at only 2 percent of your account total, in 10 consecutive lost trades you are only risking 20 percent. And having 20 consecutive losses is pretty much not possible. so, there you have it.

 

5. Use all of the analysis tools at your disposal.

Both technical and fundamental analyses are important. And you need to use both of them in order to see the full potential of your trading profile. While technical analysis can be a fast changer, fundamental is going to live up to its name.

 

6. Always make a strong/weak pair.

This is one of the best ways to approach trading. Pairing weak and strong currencies is going to pay off in any case as economic trends progress and evolve. The combination of strength and weakness is always going to have that edge that eventually going to help you earn your share.

 

7. Consider that you might be wrong sometimes.

Sometimes economic data and performance of the market simply do not match together. In this case you need to rely on the performance of the asset rather than on the economic data. If you were predicting growth and you see the decline, trust your eyes and back out for a while. Respect the markets.

 

8. You can see the risk, but not the earnings possibility.

In markets there is an unspoken rule – there is always the possibility to see the risk and the possible fall. But earning is not something that you can predict in a long run. Technically speaking every trade is simply a guess that may or may not pay off. And while earning is a 50/50 percent chance there is always room for risk. In every trade.

 

9. Never make excuses.

After all that is your trading portfolio and your money that you are putting on the line. And that means that you do not have anyone to answer before, but yourself. That is why if the action that seemed right at the time didn’t pay off, you do not have to make an excuse. To anyone.

 

Any of these rules speak to you? What do you think about currency trading?