Improve Forex Trading

Improve Forex Trading

by Naomi West

There are many people who will enter the business of Forex trading before getting an idea of what they are getting themselves into. They do not understand that it can be a very complicated world and they setting goals that are too high will only make things worse for them.

There are a few simple steps that will help each trader to improve their trading by almost 100%.

Don't trade on anything that is less then 4H charts. Those of you who are new to the business must follow this rule to the letter. This is what will help your trading account to grow. The higher the time frame is the easier it will be to make money. If done correctly you will notice that your account will grow by almost 15% every month. This is by only taking 2 to 4 trades a month.

Only accept the A trades. This is when you must exercise your patience. I know that this can be very difficult - but it must be done. You need to plan out the trades you want and then wait for them to be set up properly before you move in on them.

Don't ever risk more than 3% of your trader account. I don't care if your stop is at 150 pips or even 30 pips. You need to make sure that what you risk is exactly the same.

Keep it simple. Keep your core system simple and you will see better results.

Exercise price action. There is nothing wrong with signs that point you to keeping to a minimum. You need to start learning how to read price action and knowing how to put it to good use. This is one of the more important Forex trading techniques to follow.

Don't trade too much. This is the one problem that many traders have. Sometimes the less you trade the less you will lose and the more money you will gain. Make sure to plan out before you take any action to prevent this.