Mindset Conditioning to Increase Forex Trading Profit

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If you are part of the 80% of the forex trading population that only realizes an average-to-modest gains in its forex trading investment, I suggest you revisit some of your money management disciplines and mindset. You may be surprised to know that simple changes to your personal thought process and psychology can result in an increase in forex trading profit.

You may not realize it at first but it is fairly common to see forex traders forget that volatility is part of the forex trading challenge. If you want greater reward, then it is necessary to take greater risks – but always calculated ones. If you feel that volatile markets are too risky, then you need to find something else to make you rich. If you fear the market because of its volatility, then it only means that you have not done your calculations properly. To a seasoned forex trader, a volatile market is not something to fear, but something to take advantage of.

It is not necessary to trade frequently and always be in the market. You should understand that the big trade opportunities with the higher risk-to-reward ratio occurs only a few times in a year. You do not have to always be in the market, fearing that you will miss a move. You need to focus on the trades that really matter to boost your forex trading profit.

Do not diversify. I know most investors will say that diversification is an important aspect to consider in trading, but it is I believe also a limiting factor if you want to make money fast. By diversifying, you reduce risk, but also reduce the opportunity to get greater gains.

You may think that my suggestions are a little reckless, but not really if you go back to our aim. We are after big opportunities and greater gains so these are acceptable steps towards this goal. The important thing to remember is to take control of the risk by improving money management. You can risk as much as 10% per trade, but you should increase your chances of success as well. One advise would be to buy options at or in the money to give you that staying power and prevent you from getting stopped out. Also, try to keep your stop in its original position. Some trades run on to make amazing gains so wait until it is well into profit before moving it up.

Again, the objective here is to increase forex trading profit, so you need to be smarter when trading. You need to have the confidence to go for a trade when it looks good – then squeeze it for all its worth.

Source by Jason R. Lewis

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