I have taught or acted as broker for around 6,000 traders and from my experience, in my own trading and watching others, there is one simple tip you can incorporate in your Forex trading strategy which will increase your gains and here it is...
It based on the 80 - 20 rule which is used in many areas of life and in business for example the rule states 80% of your sales and profits, are likely to come from just 20% of your clients and in Forex it means this:
80% of your profits, are likely to come from just 20% of your trades and the fact is most traders' trade to much!
They make the following assumptions which are completely wrong and lose:
They want to trade the short term noise and try day trading and scalping - but as all volatility is random they lose.
Other traders want to be in the market all the time, in case they miss a move but you don't need to be in the market to spot a move, you can wait and see it then act and this puts the odds on your side.
Other traders simply think the more effort they put in and the more trades they make, will mean the market will reward them with profits - but this is simply not so.
In Forex trading, you don't get rewarded for effort, you get rewarded for being right with your trading signal and that's it.
An Easy Stress Free Way to Make Triple Digit Gains
I know traders who trade less than once a month and make triple digit profits, because they wait for the best opportunities and focus on making money - they dot work hard they know the way to make money is to work smart!
Look at any Fore chart and you will see big trends and these are the ones to lock into and hold, there is no point in trying to force the market to give you profits, Forex trading is simply not like that.
You need to have the patience to wait for the right opportunities and then hit them hard, when you see them; it's as simple as that.
So if you want to win on more trades, make bigger profits, in less time, with less stress - Think about the 80 - 20 rule and you can get on the road to currency trading success!