Forex Time Trading Machine grants you the accessto put yourself in important "Pin Point Pivots", using the time triggers that set off tremendous chance momentum trades. In other words, it gives you trades thatcan assistyou potentially rack up Tons of Pips with a large success percentage, very limited well defined risk and large, very large potential runs with each trade.Now the point is for you to start thinking in terms of your own trading. What if you could do something like this constantly, What if you had a style of trading forex that was dependable? That is where forex time machine comes into place.
FOREX TIME MACHINE: HOW TO MANAGE YOUR FOREX TRADE
One of the general problems that affects traders is watching winning trades become losing trades.If you are not monitoring your forex trades, from the entry point to exit point, you are going to see this happen which will likely happen often.
Here is the root of the problem:
A trade is fixed alongside the primary stop loss. What most traders do is trying to get all their profit at once, without actually having a target. When the trade gets profitable initially, many traders will ’screen gaze’, they concentrate on how much they have made at that moment. They ignore planning to exit the trade. They overstay in the trade and frequently watch their profits disperse when the market turns against them. This is a losing proposition in forex trading.
What is the purpose of a trade? To maximize gain and minimize risk – it is that simple.
Maximizing gain does not mean you exit a trade at the absolute ‘Top’, it does mean that for the duration the trade is on, you have a set of rules that determine where you will exit for profit and it isn’t where you think it is. Minimizing risk means more than just setting that initial stop loss, you must manage your stop losses throughout the duration of a trade.
When forex traders starts trading, they must secure their capital first and think profit second. When their position starts increasing up, they can take the right action to secure their capital and their profits.
In fact, most successful forex traders assume they will lose on every trade. They perform this psychological trick to make sure their risk strategy is always top of mind! Once a trade turns in their favor (much to their surprise), the first steps they take is get themselves into a break-even trade situation; followed by aggressive stop loss management to maximize their profits on the trade.Research has confirmed that too many new and inexperienced forex traders simply do not know how to manage risk in each trade and all too often, the result is the same: they wipe out their accounts.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.