Plan you trades for the day. Chose your pairs and check if there is Major News that will affect them. Make a firm decision of how much you are going to risk for profits; 1:5 is What i normally use to compound profits. Set your stops if you do not have Auto stop softwares. Kill Any Emotion. Lastly, be very Patient as there is always a moment to make profits daily.
I always suggest traders to acquire knowledge on both technical and fundamental analysis. If you understand the candstick patterns and other technical issues as well, you can easily identify the trend.
SteveFx11 posted: I always suggest traders to acquire knowledge on both technical and fundamental analysis. If you understand the candstick patterns and other technical issues as well, you can easily identify the trend.
Oh the first tip to make profit everyday is trade everyday. But again, all orders cannot be profitable. At least once, but there will be a negative trade. Ther the main thing is to calculate the trade in such a way that even if you had a negative trade, you could cover it with a profit one.
In order to make profit in trading, you have to trade daily and learn your strategies so that your trading is at its best: 1 Monitor pivot levels closely. 2.Trade with an edge in trading always. 3. Preserve your trading capital mindfully. 4. Simplify your market analysis. 5. Place stop loss at reasonable levels.
Everything that is mentioned here can be summed up in one term: a trading plan. Build your trading plan depending on the strategy, market analysis, possible perceived risks, events and news, and the expected result. If you cannot build it, then you should learn before you start trading. If you do not want to learn, then you are not a trader but an investor, perhaps your path to success lies in investing.