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Candlestick Chart - A chart that indicates the trading range for the day as well as the opening and closing price. If the open price is higher than the close price, the rectangle between the open and close price is shaded. If the close price is higher than the open price, that area of the chart is not shaded.

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Bigger Forex Profits - Simple Tips For Bigger Profits

Kelly Price

Free Forex Trading Information

Bigger Forex Profits - Simple Tips For Bigger Profits

Here I am going to share some simple tricks on maximising your Forex profits. They work and if you incorporate them in your Forex trading strategy, they will work for you as well. Here they are...

Here are your simple tips for bigger profits and over 25 years they have made me a lot of money and there all simple to apply.

Learn the 80 - 20 Rule

This well known rule is used in business a lot and simply states that 80% of your profits are likely to come from just 20% of your clients and in Forex terms it means 80% of your profits are likely to come from just 20% of your trades.

Most novice traders trade too much and you need to keep in mind you don't get paid for trading a lot - you get paid for being right! So cut back your trading and only trade the really high odds trades. In Forex trading terms, if you trade less you can actually make more.

Separate Core Capital and High Risk Capital

I personally like to have some fun trading and separate my trading capital into 2 portions. One portion is my core capital and another, is my high risk capital.

If for example, I get a windfall profit or I hit my year end target early, that goes into my high risk capital. This I use for hitting trades harder than normal and I don't care if I lose it!

In fact, I have found sometimes when you can approach a trade with this attitude it makes a lot of money, as it's money you don't worry about it makes it easier to make profits with.

Why Trend Following is so Hard and the Solution

The most critical factor of trend following is not the timing of the trade or the indicator, but rather the determination to following the trend when it's in motion.

Many traders have excellent forex methods and are right about the long term trends but cannot hold them due to the emotion of fear. So what do they fear?

They fear of losing the profit that they have in an open position is something all novice trader struggle with. The bigger the profit gets the greater the temptation is to snatch it before it gets away. As volatility eats into open equity, the temptation to take the profit becomes too much and the trader banks it.

Of course then the trend carries on the way the trader thought piling up thousands of dollars and he's not in - his fear and his emotions got the better of him. If you lack the discipline to hold trends and want to be proactive, use the 50 - 50 rule below.

Using the 50 - 50 Rule

This simple rule will