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It is possible to make money in Forex and if you're good, it can be done fairly quickly. The important thing is to let your earnings run and cut your losses. Cut his losses, (stop loss, money management.). In terms of let his profits run, it must be taken to mean, do not cut your position as your target has not been reached or until your stop was not typed (if you play trends and that therefore you are running in stop motion). Too many traders take their profits too quickly once they see the operation in gain. Stick to your trading plan that was established prior to entering the market and do not hesitate to strengthen your position if the trade share in the right direction. For example, when a moving stop, you can open a new position. So if the trend continues, you can win a lot. If you play in goal setting, take a risk / reward ratio that is interesting.
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Change the way you think about losses; I think loss are beneficially. If you see a loss on an open position take the loss. Be happy that you banked a loss. When you enter a trade expect it to be a loss. Losses are good.
Nice ways of think bro. I think that not all loss is bad, especially when we can get some useful experience from our loss, so we can do more better on the next trading we do by not so the same mistake again like we loss before.
That's right, a loss can't be always bad if we know how to respond it. I think if we experience a loss, that will make our trading skill more improve if we can pick a good learn from our loss. From our loss we can know what's our mistake, so we can think how to not doing a same mistake again on our next trading activity.
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The other we can use the copy trading besides EA. This is a good system to make a profit. my broker also give this facility in myfxbook autotrade - Armada Markets. just Choose a trading system and trust your funds to carefully picked strategy
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Cut loss is one way to reduce risk in the forex business. other than that we could use one of the other ways is by using a system of insurance provided by the broker. The insurance system could be useful. one of the brokers who provide insurance is FBS
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Forex is a business where we can’t always get good trades or successful ones so it’s really important that we learn to take good trades while with whenever the bad one comes we just cut it and never try to revenge from the market as its always going to provide losses.
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