Relocate that you're simply not quite obtaining the results you wanted from trading Forex or FOREX?
Are you still struggling to get a small boost for your requirements?
There are lots of easy ways to enhance your Forex currency trading. Most of them are fairly generic for the reason that they affect trading generally. The thing is that being human, we tend to let our emotions obstruct and we know that when we traded like machines, we'd probably improve results.
Let's look at some of the more obvious things you can do.
Have you got your trading plan sorted out yet? Does it specifically let you know how you placed on, manage and exit trades? Exactly what the trade time period is, what currency pairs you'll consider trading.
Do minimise your risk on every trade. Whether it's going to set you back 20 pips to have it wrong and there is only a target of 18 pips within the trade, then it is not well worth the bother! Keep your reward to risk ratio to a minimum of 1-to-1, even better if you make it more like 3 to at least one.
Have you recorded all of your trades and updated your stats from their store? For me, this is the most enjoyable bit of trading. Each month end, I analyse my trades to determine where the money originated from (or got lost to). I understand what currency pair made me the most money, what type of trades were the best ones as well as what were the worst.
Remember that your losers give you the best information because they teach you what to avoid doing!
Do watch the marketplace news. I don't mean spending hours of TV watching, I just look at the daily news releases making a note of the items time they're so as to avoid trading at these times. I understand some of us like these volatile moments in trading, but my plan is more conservative and safe.
You shouldn't be greedy! I'm quite happy with getting merely a 10% or 20% relocate a trend, it's an improvement on nothing whatsoever. Don't try to get 100 pips every time. This attitude will result in overtrading and certain losses. You tend to learn this one hard way though!
Don't use a lot of tools and indicators on your charts. Simple is much better. Don't get analysis paralysis! I use just one indicator, the RSI.
It's these obvious things that we often ignore that reduce our trading performance. You've got to be really honest with yourself and ask whether you do them or not.