How To Increase Forex Profits 100% in 10 Minutes

Fri, Sep 8 2006, 10:12 GMT
by Jimmy Young

Eurusdtrader


How To Increase Forex Profits 100% in 10 Minutes

This simple exercise will increase Forex profits 100% and works for 99% of all short-term FX traders – stop trading so much – widen out your stops – widen out your profit targets – and only trade in the direction of the trend indicated by 4 hour chart.

1) Stop trading so much
Sure there are no commissions but the spreads are HUGE and believe it or not (well you’ll believe it after you do the simple exercise below) the spreads are reducing your profits 100%!

2) Widen out your stops
Initial stop loss should be a minimum of 23 points; I 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 100 points or more don’t do it.

4) Only trade in the direction of the 4 hour chart
The real money is made in the direction of the trend

Simple exercise

1) Download all your trades for the year into an excel spreadsheet (if you don’t know how to do this ask your broker for help).

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

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

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

5) Take your actual current account balance and divide it by your opening balance at beginning of year; the result will be a percentage change.

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

7) That number should be 100% or more

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

Published on  Fri, Sep 8 2006, 10:16 GMT

Eurusdtrader.com  | 4 Margaret Drive, Hopewell Junction, NY 12533
http://www.eurusdtrader.com | jimmy@eurusdtrader.com

Legal disclaimer and risk disclosure

Risk Disclosure Statement - The risk of loss in trading currencies can be substantial. Trading in currencies is not suitable for many members of the general public. You should therefore carefully consider whether such trading is suitable for you in light of your experience, objectives, financial resources, and other relevant circumstances. In choosing whether to trade or to authorize someone else to trade for you, you should be aware of the following: A) If you buy or sell a currency, you may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain your position. If the market moves against your position, you may be called upon by your broker to deposit a substantial amount of additional margin funds, on short notice, in order to maintain your position. If you do not provide the required funds within the prescribed time, your position may be liquidated at a loss, and you will be liable for any resulting defecit in your account. B) Under certain market conditions you may find it extremely difficult to liquidate a position. This can occur at any time. C) The placement of contingent orders by you or your trading advisor, such as a "stop loss" or "stop-limit" order, will not necessary limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. D) The high degree of leverage that is often obtainable in commodity trading can work against you as well as for you, the use of leverage can lead to large losses as well as gains. E) In some cases, managed commodity accounts are subject to substantial charges for management and advisory fees. It may be necessary for those accounts that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets. This brief statement cannot disclose all the risks and other significant aspects of the commodity markets. You should therefore carefully study commodity trading before you trade.

Interested in forex trading? forex brokerage firms!


MG Financial Group
Contact the broker/FDM
Open a demo account
Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
FXA Securities Ltd ( MF Global Group)
Contact the broker/FDM
Open a demo account		Deutsche Bank
Contact the broker/FDM
Open a demo account		Advanced Markets
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.