95% of traders lose money, so here we will look at 10 things the bulk of losing traders do and the tips are doing the exact opposite. If you learn the enclosed currency trading tips, you can do what the elite 5% of winners do and increase your profits.

Here are your ten trading tips for bigger FX profits.

Don't Use Cheap Forex Robots

This is a major error made by a huge number of traders, they buy a cheap automated Forex trading system and think there going to make huge gains with low drawdown. These cheap robots however all lose money and should be avoided

Be Patient

Most traders trade to much but its a fact you can make triple digit gains trading just a few times a month. Remember – you are not trading for fun, your trading to make money and that means waiting for high odds set ups and not forcing trades.

Do Uncomfortable Trades

The More people who disagree with your trade the better – if there appears to be no reason for a big price break it's probably going to be a good one if your currency trading strategy tells you to do it. Winning traders are ones that act when the vast majority don't and if you feel un comfortable, don't worry, it means there could be big profits ahead.

Place Your Stop Behind the Herd

The fact is most traders place their stops to close and have them inside normal volatility. If you want to win you need to place your stop further back and while this sounds more risky it isn't. You have to take a risk to make a reward and by placing your stop further back, you increase the odds of success.

Use Low Leverage

The reason most traders have stops to close is – they trade with to much leverage. Many brokers were give you 500:1 in leverage terms but you shouldn't use it. Over leverage wipes out more accounts than any other single reason and 10:1 is plenty of leverage for most traders to use.

Follow Long Term Trends

Most traders like to scalp and day trade and they end up taking low odds trades and lose. The big money is made by trading long term trends and holding them. If you are a long term trend follower you will make bigger profits with less risk.

Trade Cross Rates

Cross rates have less speculative interest than the majors and due to this trends can be better and volatility can be less – so trade cross rates to increase the risk to reward of your currency trading strategy.

Use Time as Well as Money Stops

You can use a money stop but time stops can also be useful, if a trade doesn't move the way you think within a specified period of time, chances are it will recoil back on you so – if a move doesn't follow through or go as you thought, a time stop can prevent losses.

Don't Trade Until You Have Confirmation

Most traders like to buy into support or sell into resistance but this is really hoping and guessing instead, wait for the level to hold first, before executing your trading signal. You may miss the exact turn but you can't predict that anyway - so don't try. Keep the odds on your side and wait for a confirmation before executing your trading signal.

Trade With Discipline

You have heard how important discipline is and its true – if you can't cut losses and follow your currency trading strategy rules, you don't have a trading strategy at all! Keep your emotions out of your trading and stay disciplined at all times.

Final Words

The above currency trading tips are easy to apply and follow and remember, if you want to join the elite minority of traders do what the majority don't do and you will make bigger currency trading profits.