While taking losses and keep them small is essential to currency trading success, you also need to run profits far enough on your trading signals to cover your losses. As you are likely to have more losing trades than ones that win, maximizing profits on the ones that do go in your favour is essential. Here are some tips on when to take profits on your trading signals.
In this article will will look at some Forex trading traps which cause the majority of traders to lose. Thee are set ups which see most traders lose and others fail to make profits, with their trading signals but these traps are easy to avoid and you can make profits from them, you just have to do what the opposite of most Forex traders do so let's take a look them.
Read more: Forex Trading Traps – While Other Traders Lose Make a Profit
What separates a good trader from a truly great trader? We all know the usual tips for currency trading success which are cut your losses, run profits, be patient and be disciplined but there are traders who are not just good – there the best of the best so what makes them, the greatest traders and how do they get such good returns with their trading strategies? Let's take a look.
Read more: Skills of the Worlds Greatest Forex Traders – Intuition
In the book New Market Wizards Jack Shwager interviews some of the top traders and it really is an excellent book, along with Market Wizards. These books should be on every serious traders reading list and the chapter I want to look at here is - a short one on Zen and Trading which might sound a bit wacky but if you understand it, you can trade for bigger profits with less risk and less effort.
This currency trading tip is related to another which we consider one of the best of all which is patience so what is the best trade in currencies, keeping patience is a key trait for any trader to obtain currency trading success in mind? The clue is perhaps obvious but for those of you who have not guessed it, here is the best currency trade, for most of the time in any currency pair.
