How to Turn Your Trading Profile into a Profitable One?

[Polakandil]

You should always limit your losses when trading in the forex market. If you follow this rule, then almost any strategy can be profitable, a matter of time and desire of the trader.

Yes, this is included an important point in forex trading, about risk management that might for some newbie ignoring, many professional traders suggest to max risk limit only 2% from amount capital, the goal is increasing opportunity start to trade again if first trade gets fail, and learn from the mistake.

 

[Paulsy]

Very Informative!!!

Taking profits in the trading process is an essential goal for every investor. The main problem most newbie traders lose their money is they don't know when to exit their trades properly.

It is vital to close your trading position at the right time to maximize your profit. Ignoring the importance of a profit-taking strategy subjects traders to magnified losses.

 

[GlenWest]

You will know the market better when you are a part of it. But it doesn't mean that the risks should be high even if you can't afford them. Take baby steps to keep moving so that the risks are affordable even when you are moving ahead.

 

[Paulsy]

The profit-taking potential is an extremely important factor in the forex trading process. Most traders don't know how to manage trades profitably. In order to increase your profit-taking potential, first, you should understand how forex trading works. Knowing what type of a trader you are and which style do you follow is very critical.

Having a well-defined trading plan provides a guide in the middle of the trading process, which is so helpful especially for beginners.

 

[Zeitgeist]

By limiting your losses and having a money management strategy you can turn your trading profile into a profitable one.

 

[Wisecrack]

A trader can have a profitable trade if he/she knows the right entry and exit points and appropriate placement of take profit and stop loss. Such information can only be obtained through in-depth knowledge and experience in forex trading.

 

[Bumblebee]

A trader can have a profitable trade if he/she knows the right entry and exit points and appropriate placement of take profit and stop loss. Such information can only be obtained through in-depth knowledge and experience in forex trading.

True. You can't trade without the knowledge of technical analysis. You should know about candlestick patterns to properly determine entry and exit points.

 

[Linsang]

In order to ace your trading game and magnify profits, all trader need to do is:

Consistently pay attention to the pivot levels

Trade with an edge

Always preserve the trading capital

Keep your trading game simple

Position stops at reasonable levels

 

[WalletInvestor]

True. You can't trade without the knowledge of technical analysis. You should know about candlestick patterns to properly determine entry and exit points.

Definitely, and fundamental analysis is important as well - you don't necessarily have to do it for yourself, but it's important to consider how external factors impact price movements as well.

 

[jeanpatterson]

To get better at trading, you will have to trade a live account. You will have to take risks, determine how it feels to put your money at risk, test different strategies, and make losses. The more experience you have, the better you get at trading.

 

[quidsworth]

It's only your strategy that can determine your success in the forex market. The stress test is important before you commit to any trading strategy. Use tools to run your strategy through historical data and trading scenarios to see how it works. Anyone can create a strategy, but building a profitable strategy requires severe testing to determine its effectiveness.

 

[flummeery]

An efficient trade includes elements like a well calculated trading plan, strong risk management and good emotional health. Forex trading can become risky if any of the above are not accurately placed.

 

[Zooscopy]

Forex trading can be made profitable by consistent efforts. You need to keep your expectations realistic and always make decisions practically. You should have a plan of action and strategy before putting in your money. Risk and money management measures should be in place to avoid losses.

 

[Whimsical]

Losses in forex trading are unavoidable but also are manageable. Traders should know that before being profitable, he should be able to protect his trading capital. They should use risk management strategies to manage risks involved even if they are sure about their trades.

 

[Spartan]

Set and follow a strict plan, with discipline and a calm demeanour, revise your mistakes from your trading journal. Calculate a risk profit ratio and implement it. Check the latest news for market uptrends, and use the opportunity to earn maximum profit.