Increase Your Forex Profits 100% in 10 minutes!

Wednesday, November 14, 2007
How To Increase Forex Profits 100% in 10 Minutes

Hey all,

In this article of mine, I am gonna show you guys how to increase your Forex Profits 100% i.e double.

It works for 99% of the short term FX traders. So if you are the casual amateur investor, read on!

- stop trading too much - widen out your stops - widen out your profit targets - and limit your trading in the direction of the trend indicated by 4 hour chart.

For an article on why to follow this trend check this out.

Now, moving to individual ones.

1) Stop trading so much

Yes, there are no commissions at all but the spreads you get are HUGE and believe it or not the spreads are reducing your profits by almost half!! Just follow this simple excercise and you will believe me.

2) Widen out your stops

Initial stop loss should be kept to a minimum of 23 points; I generally limit my use between 23 and 35 point stop losses for short-term trading.

3) Widen out your profit targets

Unless you think a trade can make you atleast100 points or more , dont plunge in the trade.

4) Always trade in the direction of the 4 hour chart

The real $$$ are made in the direction of the trend

Follow this Simple exercise

1) Download all your trades for the past year into an excel spreadsheet (if you don'thave an idea on how to do this, go ask your broker for instructions).

2) Determine the dollar value of the spread for each of the trades.

3) Sum up the total dollar value of all the spreads for all trades and add this value to your current account balance; this gives your spread adjusted account balance.

4) Take this spread adjusted current account balance and divide it by your opening balance at beginning of the year; the result will give you a percentage change.

5) Now, take your actual current account balance and divide it by your opening balance at beginning of year; the result again will give you a percentage change.

6) Subtract your spread adjusted year to date percentage change from your actual year to date percentage change.

7) That number will be 100% or more

8) Take the necessary steps as outlined above (1 to 4) and improve your results 100%

If you liked this article and it worked for you, i would be delighted to know so. Please do leave feed back.

You might like to read other Forex related articles in the Articles section or browse through our huge collection of forex ebooks!