After some steady and overall successful trading, you feel it is time to move up. Your success so far has been based on hard work. The process included learning to lose some money and accepting the losses. Most importantly, you made more gains that losses and you have been consistent over a few months.
So now you are thinking of scaling up: making more money in your trading. It is important to scale up in a sensible manner. Here’s why and how:
Scaling up can be done in 3 ways: enlarging the position sizes (the preferred method), adding more trades in each session, or extending the trading hours.
Whatever method you chose, do it responsibly. Here’s how.
1. One move at a time: If you do more than one move at a time and something went wrong, you will not know what happened. It will be hard to put your finger on the reason: was it the extra trading hours or the pressure due to more trades. Was it both? So, it is better to take one step at a time.
2. Don’t take extreme steps: Don’t take your scaling up to the extreme. For example, if you add more trading hours, add one hour and not four. If you enlarge your position sizes, remember to stick to the money management rules.
3. Wait before the next move: After scaling up once and seeing that it works, do hesitate before scaling up once again. Take your time in verifying that your change worked. As with starting to trade for the first time, early success may be dangerous. Potential greed to disaster, just after you have managed to stabilize your forex trading.
What is your experience with scaling up? Do you use different methods?
So now you are thinking of scaling up: making more money in your trading. It is important to scale up in a sensible manner. Here’s why and how:
Scaling up can be done in 3 ways: enlarging the position sizes (the preferred method), adding more trades in each session, or extending the trading hours.
Whatever method you chose, do it responsibly. Here’s how.
1. One move at a time: If you do more than one move at a time and something went wrong, you will not know what happened. It will be hard to put your finger on the reason: was it the extra trading hours or the pressure due to more trades. Was it both? So, it is better to take one step at a time.
2. Don’t take extreme steps: Don’t take your scaling up to the extreme. For example, if you add more trading hours, add one hour and not four. If you enlarge your position sizes, remember to stick to the money management rules.
3. Wait before the next move: After scaling up once and seeing that it works, do hesitate before scaling up once again. Take your time in verifying that your change worked. As with starting to trade for the first time, early success may be dangerous. Potential greed to disaster, just after you have managed to stabilize your forex trading.
What is your experience with scaling up? Do you use different methods?
Editors’ Picks
EUR/USD softens below 1.1800 on Fed hawkish remarks
The EUR/USD pair edges lower to around 1.1775 during the early Asian session on Wednesday, pressured by a renewed US Dollar demand. Traders await the US President Donald Trump's State of the Union address later on Wednesday for clarity on fiscal policies.
GBP/USD regains 1.3500 and above
GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.
USD/JPY struggles near two-week low amid BoJ rate hike uncertainty, ahead of Trump’s address
USD/JPY sticks to its positive bias near 156.00 during the Asian session on Wednesday and remains close to a two-week high as reports that Japan’s PM wants the BoJ to go slow on future rate hikes continue to weigh on the Japanese Yen. The US Dollar, on the other hand, draws support from the Fed's hawkish outlook and also acts as a tailwind for spot prices amid a positive risk tone. However, intervention fears could cap the currency pair ahead of Trump's State of the Union address.
Editors’ Picks
AUD/USD edges higher as Australian CPI reaffirms RBA's hawkish stance
AUD/USD edges higher following the release of Australian consumer inflation figures, which backs the RBA's hawkish tilt and supports the Australian Dollar amid a positive risk tone. Spot prices, however, remain confined in a nearly two-week-old range amid trade-related uncertainties and ahead of Trump's State of the Union address. In the meantime, the Fed's less dovish outlook acts as a tailwind for the US Dollar and contributes to capping the currency pair.
Gold consolidates below $5,150 as traders await Trump's State of the Union address
Gold steadies below the $5,150 level following the previous day's pullback from the monthly peak as traders opt to wait on the sidelines ahead of Trump's State of the Union address. In the meantime, trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion. However, the Fed's less hawkish outlook underpins the US Dollar, which, along with a positive risk tone, caps the upside for the non-yielding yellow metal.
USD/JPY struggles near two-week low amid BoJ rate hike uncertainty, ahead of Trump’s address
USD/JPY sticks to its positive bias near 156.00 during the Asian session on Wednesday and remains close to a two-week high as reports that Japan’s PM wants the BoJ to go slow on future rate hikes continue to weigh on the Japanese Yen. The US Dollar, on the other hand, draws support from the Fed's hawkish outlook and also acts as a tailwind for spot prices amid a positive risk tone. However, intervention fears could cap the currency pair ahead of Trump's State of the Union address.
Hyperliquid registers mild gains following CoinShares' ETP launch
Hyperliquid registered a 3% gain on Tuesday after CoinShares announced the launch of its Physical Hyperliquid Staking exchange-traded product, offering investors exposure to the token's price and staking yields.
The Citrini report: How a debatable AI narrative can shake Wall Street Premium
That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.
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