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Forex Trading Tricks

Discussion in 'Forex Discussions' started by painofhell, Feb 17, 2016.

  1. painofhell

    painofhell Content Contributor

    Jun 24, 2015
    Likes Received:
    What Are The Best Forex Trading Tricks?

    Are you still looking for that strategy that will make you the extra money to buy the extra monthly things that never cease to come your way? Are you an experience trader who’s in a rush? This short article is to be considered as a guide if you are that type who came here looking for some Forex trading tricks as a fast way to increase his or her revenue.

    The answer is that Forex trading tricks or cheats don’t exist anymore. When online forex trading was still in development and the Meta Trader trading platform was still having bugs in relations to broker’s liquidity provider, such methods were possible.

    Now that the bugs are fixed and the cheat positions are over, The only Forex trading tricks recommended are simply patience, self discipline and applying strategies that will allow you not to take big risks. In a way, all the trading tricks been replaced by decent trading strategies. The following are the reason as to why:

    Patience: Although at one point in their investment experience or career forex traders understand that they cannot engage in a big position that can and most probably will result in a loss of their funds. Having said that, traders will decrease their trading position size and engage in smaller and lower risk positions. That same position will have smaller profits as well as smaller losses. This is a key money management aspect that many forex traders fail to comply with fully.

    Strategies: There are many forex trading strategies online that will provide a trader with the knowledge to trade resulting as some sort of trading method. The average trader will have in an instant, mostly prior, during and after opening a position. As coached to many, when taking a position in the forex market, DO NOT change anything about that position. Keep your stop loss as where it was originally placed, keep the position size unchanged (unless you have made minimum 150 pips profits, which in that case you are allowed to open another position with a max size of 60% of the first position you have opened). Bear in mind that you need to keep it as simple as possible. There are no forex trading tricks, so don’t listen to anyone that try to help or tell you otherwise. When a beginner trader engages in this market, he or she will look everywhere to find best results or best advice, this is wrong! Start by small positions, and after you do engage in those positions, leave your computer and don’t touch it!

    Many think that hedging positions can be great Forex trading tricks. However, it’s far from the true. As a beginner, try to avoid hedging, it will complicate your life if you do not have the relevant experience. Hedging positions is equivalent to closing your losing position. Trade simple and follow the rules. Most times you’ll be better of closing your trading position, even on a certain loss, and to wait patiently for the next opportunity to re-enter the market.

    In conclusion – Don’t look for any Forex trading tricks. If you apply proper trading and risk management strategies and stick to it with patience and self discipline, you will not need ones anyway. Or, carefully chose a money manager or a trading signals service that proven be reliable and profitable.
  2. Sharon Higgins

    Sharon Higgins New Member

    Oct 29, 2014
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    I wouldn’t be calling it tricks because they it should be strategies or method that our main aim must be on. I enjoy reading stuff like these because it can give me different ideas and ways to work about things. I am lucky enough to have a top quality broker like OctaFX since with them, I am always in top shape through demo contest by them especially Southampton Supreme, it is probably the shortest demo contest ever with been just 90 minutes yet the prizes are mouth-watering since the average is above 1000 USD, but the term is unlimited since we can win it according to our performance, it is not just exciting but it is rewarding as well for all.

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