Skip to content Skip to sidebar Skip to footer

Make Profits With Simple Forex Trading Strategies

Forex Trading Strategies - Getting into forex trading will not be as simple as it sounds. You have to do your research, come up with a sufficient understanding of the trading methods and be prepared for all sorts of eventualities.

Many people seem to join the forex market because they think they can make big profits easily without thinking carefully about what could possibly go wrong. And, eventually they sink into losses due to a lack of understanding of trading. Although many people refer to forex trading as "playing forex", forex is not a game where there are only winners and losers and there is little chance for a draw.

Forex Trading Strategy

Forex is a real market using real money. It is highly discouraged to trade without a sufficient understanding of trading these currencies. Based on my experience, I am one of those people who are desperate and do not seem to care about the capital I have, even if it is only in small amounts.

I started trading with minimal capital and knowledge. But I think, if I lose with the first capital I should think that it is the payment of valuable experience that I will get later. However, I do not advise you to follow the steps I took, because after all, not everyone has the same mindset as me.

Read: Should I Buy Forex Trading Strategy?

If you are really serious about online forex trading, you should continue to learn and understand fully about trading in the forex market. Getting big profits from forex trading is real, of course, it is done with a strategy that has been designed in depth and coupled with sufficient knowledge of forex.

The short strategy that I apply is to determine the profit limit and of course the loss limit. Usually I only take an average profit of 10 USD per day because I am a small trader. However, for me it is not a problem because my target is consistently profit. If possible and absolutely sure about the currency movements of the day, I can set a target of up to 50 dollars per day. That's a pretty big amount for a beginner.

Read: Profit Everyday From Forex

Another strategy that I apply is to focus on one or two orders only. I do this so that my emotions are controlled even though I am at a loss. Once upon a time I ordered up to 10 orders in a day. As a result, I lost because in one position I had to add another order to secure and prevent a large cut loss. Even though I have made many orders, I still feel the loss even though it is not in large quantities.

Based on that experience, I concluded that forex trading should focus on one or two orders only and not be greedy in seeking profit. Sometimes, even though I believe profits will continue to grow, I still choose to end the day's trading, close my laptop and start other activities or just monitor market developments on several financial news websites.

A good trading strategy this year has not changed, I'm still doing the same strategy. Seeing the state of the world's finances, many are experiencing crises and disasters that have a very strong impact on the economy of a country. Forex is strongly influenced by financial news, therefore the financial news of a country must be known at all times, especially if you are a day trader.

I will continue to share through experience stories that I will write here, hopefully it can be useful for friends who are interested in trading in currency (forex).