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StraightForex

The best strategy ever: Pyramid in – Increasing your trading size

trading-desk

Hey traders, how are those trades?

Later today we’ve got the FOMC minutes, which probably is the most important fundamental announcement from them all…

Yes, even more important than the Non-farm Payrolls report.

So we are going to see some movement, that’s for sure, but the type of movements that we are going to see aren’t tradable… and you know that.

So its a good idea to just watch the market and see how it behaves, close your trades, take out all your orders and relax!

Its always better to see the market moving like that from the sidelines.

Now, talking about something else… Last week I wrote about taking partial profits, its a pretty common strategy among traders and I wrote about why I thought it was the worst strategy ever.

What you are actually doing is hurting your performance as a trader.

Why?

Because when the market is moving on your favor, it is actually telling you, you probably took the right decision. Why would you limit then your profit potential by taking partial profits.

Now, don’t get me wrong.

If its part of your trading plan, then its ok to do it.

But if you are taking partial profits just because you are afraid the market is retracing back, that would be a terrible mistake.

But today I want to talk just about the opposite, instead of taking partial profits, increasing your trading size.

Taking partial profits: The worst strategy ever

Misconceptions in Forex

Hey traders,

There are plenty of strategies out there in the internet, some of them are good, and some others have negative results on our results.

There are even some strategies that are good for some traders, and bad for others.

That’s how trading is.

Today I want to talk about one strategy in particular: Partial profits.

Have you used it? At one point I did use it, until I realize it was hurting my trading results.

So here it goes.

EURNZD Signal (320 pips)

Understanding Risk in Forex

Remember last week I told you this week was going to be interesting week? Well, at least it started that way!

There are a few currency pairs that are trading in very clear conditions… And you know what we need to do once we have a clear currency pair right?

Just find an excuse to go either short or long.

We just need to find the right currency pairs to trade. As I’ve said before, find the right pairs to trade, and you’ll have 80% of the job done!

Dont worry too much about your entry system, etc.

Anyway, today there are plenty of currency pairs trading in a clear market condition and one of them is the EURNZD.