Finance & Investment Online Forex Trading - 4 Simple Tips to make 100% + Annual Gains
This article is all about taking calculated risks at the RIGHT time to make triple digit annual gains - Let's find out how to do this.
Much of this article does not adhere to conventional investment wisdom - but that's not a problem, as 95% of forex traders lose all of their money or only manage to make minor profits.
Let's start with an interesting fact:
I once knew a retired woman of 81, who had never traded currencies before yet, learned Forex trading in just three weeks.
She then started trading and made 129% annualised profits over 3 years!
She broke many conventional online currency trading rules - but that didn't bother her at all she was to busy making great gains.
Let's look at how she made big gains in her online currency trading.
She had a simple method:
1. She drew her charts by hand, and looked for valid support or resistance. When prices approached these levels, she looked for it to hold or to break to trigger her trading signals, with the following tools.
She used just two indicators to time her entry, (stochastic and RSI) and make sure she was trading with price momentum and the odds were on her side.
She went the way price momentum told her - but it's the next points that will surprise you and really gave her currency trading success, and triple digit gains:
2. She traded infrequently
In her first year, she traded 3 times. In her second year, she traded 5 times. In her third year, she traded 3 times, that takes a lot of patience!
Her logic was:
Why trade if the risk reward was not heavily in her favour?
Many impulsive, novice and impatient traders could learn from this bit of Forex education - as most forex traders trade too much which diminishes their chances of currency trading success.
If you think about it, in currency trading how often do the really big trends come along? - Just a few times a year and these were the ones she hit hard, using her Forex trading signals.
3. Hit trades hard.
You hear a lot about diversification being the way to build wealth - but this lady held the view, that all it does is dilute your profits.
Therefore, she only focused on one trade - and piled as much money as she could afford into the position.
She then simply placed a monetary stop - and if she was wrong, she took her loss in good humour and waited for the next trading signal to come along.
4. Courage and Discipline
The trades she risked a lot of money on were only the trades she believed would be the big winners, and likely to pile up tens of thousands of dollars not a just a few hundred that many traders I know would be happy with.
Therefore, she let the trend develop and ignored short term volatility - and anyone wanting to learn Forex trading should do the same if they want big profits from forex trading
Her view, (which is right) was that most Forex traders want to make money - but lack the courage of their conviction - and cannot take accept a big profit.
They try so hard to protect their profit when they make one, which they move stops up too quickly - or grab their profit too soon.
Sometimes she would see her equity dip by thousands in a single day, but she stood firm. As she put it:
"I have my eye on the bigger prize" - and that was a profit target that was far bigger than most traders aim for or have the courage to hold on for.
Her currency trading system worked and it worked well, it wasn't rocket science and it broke a lot of normal forex trading rules, but it worked.
She didn't trade much, didn't diversify, and didn't trail stops quickly. However, thinking about it, isn't that what the losing majority of traders do?
As she says: "Why join them? I'm making profits - Period.
If you trade in online currency markets, and want to make 100% annual gains - then maybe you should consider how she achieved them.
It makes total sense.
5 FREE Trader PDF's Much More
Get all the support you need to trade like a pro with our user-friendly multi-lingual online trading platforms up to date financial news, free demo account, $100 minimum investment, tight pip spreads, and 24-hour professional support.
Grab your FREE PDF's NOW: http://www.bestonlineforexbroker.com
Related Tags: trading, currency trading, forex trading, forex, online trading, trading platforms
Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are