Staying In the Profit

Posted on Thursday, April 29th, 2010 at 5:30 pm.

Dr. Blythe here,

Hi guys i just thought i would share some thoughts on staying profitable when trading in the Forex markets. I know the markets can be cruel and it is very hard to get your start and stay consistently profitable. Some things i like to tell people that are just getting started are first make sure to find a few trade types that you personally feel comfortable with and stick to them. There is no sense in trying to trade live with trade types that you are unfamiliar with or have not traded demo with or back tested. The second thing and one of the most important things is to make sure that you are not trading with larger lot sizes then your account can margin. Only risk a small percentage of your account at any given time. I will use no more than 5 percent at one time. That could also be over multiple trades. I do not like to use all of my margin on one trade, simply because you can miss out on other opportunities. I hope that helps. Happy Trading.