Each currency trader wants to get the maximum Forex profit by trading on the exchange. In reality, it succeeds to units (less than 5% of traders).
What does average profit in forex trading consist of? How to get the first profit on the stock exchange and make this income stable? How to scale your success? These and other questions are asked by any newcomer to trading.
Today you will get answers to them, making the Forex trading not only profitable, but also interesting for you, for your development.
Forex and Profit
When opening a position, a trader should always consider the presence of a spread. The size of the spread is determined by the Forex broker.
Part of the spread is the average monthly revenue of a forex trader, part is transferred to the broker’s partners, part goes to the larger broker, which provides quotes to our broker.
Trading classics like Alexander Elder adhere to the following rules:
First you need to learn how to trade at least zero.
Further, the trader learn to trade in a small plus.
Increasing profit margins
Indeed, simply by opening and closing a trading position, you can lose on the spread. Let it be 2-3 points on average, but still.
With the increase in the number of transactions, our losses will accumulate. The same scalpers sometimes open dozens of hundreds of transactions per trading session.
Therefore, it is so important to cooperate with a broker whose trading conditions satisfy our requirements. Low spread – among them.
Forex Profit – Stabilize Trading
So that trade lucratively, you require to be able not only to make the correct forecast for the price movement, but also to open in time, correctly accompany and close the trade transaction.
All this is achieved by awareness and practice. A few general rules that will help you stabilize your trading:
Trade the trend.
A trend allows you to receive tens and hundreds of points from a transaction. Squeeze the movement to the end.
Do not go against a crowd or a locomotive running towards you, follow the trend. In addition, trend trading is the easiest to learn for beginners than, say, catching corrective kickbacks.
Don’t be greedy
Profit – close part of the transaction or the entire position. Sometimes it’s better to close the deal and reduce the risk to zero than take the risk if you are not sure about the subsequent price movement.
The goal is a stable long-term profit that professional forex traders make. You can learn to trade in plus, but do not play roulette.
Stay calm
Self-control is the basis of the trader’s behaviour. Not succumbing to panic, not being greedy, not listening to others, and strictly adhering to the trading rules of your chosen strategy is an art. But only all of the above will lead you to success.
