Forex How To Add to Winners in Forex Trading?

[moonchild]

So you're in a winning trade, market has decided to go in your direction, what's the best way to capitalize on such moves and make even more money, the answer is adding to winners, you should get big when you're right and cut your losses short when you're right.

In a book I've read, pyramiding was recommendeded which basically to add a lower size as the trade goes in your direction till you exhaust the trend, so For example let's say you get in with 0.05 and market prove you right, you then add 0.03 and it kept on going in your direction you then add 0.02.

while also moving your former stop. loss to break even on former position, so that even if the market reverses you'll still get out at breakevn and your only loss should be the current position you're in, you'll be able to stake up a nice size like this without compromising your psychology.

 

[Good-Guy]

Become a winner trader may not be as easy as many people think. In fact, online trading is one of the most difficult methods to generate money. There is no trading strategy that works 100 percent of the time. I have always been wondering why many trades hit the stop loss. The fact remains that there are many reasons why this may happen.

Many traders may place a stop loss too close. Perhaps this may be the reason why they may lose some trades. This is specifically true when it comes to volatile markets as price may jump or drop in a very short period of time. If you want to become a winner trader, then you may need to seek mentorship and guidance of a successful trader in many cases. You must make sure that your mentor himself is a successful trader as well.

This is a very crucial thing to do. The fact remains that many retired traders could also help you in this regards. nevertheless, it takes a huge amount of time to become a successful trader. You must practice trading using a demo account, which is offered by almost all the brokers. In this way, you will make sure that you do not lose real money.

 

[FinTrader]

Yes, online trading is the difficult method to earn money, but having a trading strategy is sometimes enough