Best Forex Broker 2010 – The Best Forex Strategy For Maximizing Profits in 2010
- August 2nd, 2010
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I often see currency traders hanging on to losing trades for weeks as it goes against them. Like a deer in headlights they stare at their screen paralyzed. Unable to exit a losing trade, they hang onto it just hoping it will finally go their way. The rational is that they can’t trade with stops because “the broker always takes out my stops”, or “it has to move back because its moved so far”. So fix this problem, learn a strategy that repairs this problem.
What you will need
The first things you will need are 2 accounts with one Forex broker. These two accounts are going to force you into accepting a loss if one comes your way. They are also going to force you into profit when it comes your way. The first statement is going to be your capital account. The majority of your funds are going to be held there.
The second statement is going to be your risk capital account. This is the same thing as having a stop in place but you aren’t going to have to worry about the broker running your stop because you won’t have one. Your stop is going to be a margin call of the account. When price goes far enough against you the trade will simply close against the required margin for the trade.
I place enough capital in the statement to handle the expected stop point as well as the required margin. An example would be this. $50 for required margin on a one lot trade, plus $200 in draw down means I would need $250 in the risk capital account. A good broker will grant you to transfer online and they usually take a few hours. Best Forex Broker 2010
Next you need a forex trading system that provides high probability trades. It should be accurate 75 to 90% of the time. The reason for needing this is because you are going to get very aggressive with your trades. After all, if you are accurate that number of times, you might as well hit it hard and take everything from the market that you can.
What do I mean when I state “you pull everything doable from the trade?” The answer is simple, its called stacking. Stacking trades means you are going to open multiple positions in one direction. All of the trades have the same target but they open in increments as the trade goes in your favor.
The last thing you need to do is back test. I can not stress this enough! Back testing is the only way you will get superior at trading and learning how much and how often to stack trades. Different systems will require different types of stacks, none will be the same. Best Forex Broker 2010
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