Monday, August 3, 2009

Forex Tips - Strategy ??? or Money???


What actually are you first aiming for in forex trading? Well, the answer is simple, everyone is aiming for the same thing, to generate more income. That's mean you aim for money first and your mind is and eyes would only see money. Your mind is full of "money,money money" and only think about how to make money instead of how to trade better. Every time you are in your trade, your mind is full of money making method not trading stragtegy. That's one of the main failure of becoming trader. A trader does not think about how much they can make in their trade, instead is how far their profit can go and how less the loss if it trun on them. Finding your own strategy is the most immportant thing. Once you found your own strategy, you can make as much as you want with the same strategy, only with a bigger size. Example - if you are making 20pips daily in average with the size of 0.01/Usd 0.10, in 22 days of trading you are making USd 44.00 per month. And with the same strategy, but only this time you increase your lot size to 1.0 instead, now you are making Usd 4,400. You see, how the calculation works here. Make sure you follow step by step in the increasing lot size process cos by too high jump of lot size will effect your emotion stability.