You’ve heard the phrase “ Defense wins Championships”. Let me tell you why these three words can save your career as a FX trader. Why become another statistic whose bad decisions cost them the passion of their life. The best and most successful traders adhere to these basics tenets: cut your losses, let your winners run and trade the market in front of you, not what you think or want it to be. All great talking points but I would submit that the hardest or most difficult decision to make is how to manage your risk or just how do you cut your losses. Especially when you “know” it’s going up or down. Sound familiar?
Let me suggest a way to actually cut your losses and not let your emotions get the best of you. It comes in the form of a new AI product called the “Forex Forager” (patent pending). This robot is designed to do exactly what makes most FX traders find another profession. It limits your risk. It’s settings allow you to limit your loses to a miniscule 5 pips plus the spread and adjust the number of tries you trade the pair from 1-6. It also will let you take profit on a predetermined setting as an example 50 pips, put a stop in on the balance and let your profits run. And it does this without any human emotion or influence from other traders.
I can’t guarantee that you will make money, that would be irresponsible, but I can say with certainty that it will change the way you approach the market and increase dramatically your chances of success. Think about the decisions that you make on any given trade. Other than a predetermined exit strategy, the amount of risk you take and the appropriate position sizing on each trade will greatly affect the profitability of that trade. The Forager will help you manage that risk with your indecisions about moving a stop or having no stop at all. The markets have always moved in a way that rewards traders to buy strength and sell weakness. This is the perfect tool to help you accomplish that goal.
One other strategy that helps traders become more successful is that you use the appropriate position size for the account balance that you trade. For example, a 1 lot in GBP.NZD is quite different from a 1 lot in AUD.USD. The price of the GBP pair is more that double the price of the AUD pair. If your risk per trade is constant you must adjust your position size to keep your risk the same. The Forager has multiple settings including one that can adjust the lot size for each trade as well as the many options discussed previously.
I hope that this article has at least made you rethink how you manage the risk in your FX trading. Lets face it every industry in the world is using technology to help increase productivity and efficiency. Why not take a look at a new tool available to you to consistently help keep those losers under control and let your profits run? A truly set it and forget strategy that can give you more time to spend with family and friends and improve the psychological aspect of your trading.
If you want to learn more about how you can apply these skills to a live trading account, please join our newly formed “Strategic Access Group” as part of Global FX Trading. We moderate a chat room where you can interface with other traders. We’ll work with you one on one to teach you how to implement these strategies that we believe can increase your profitability and improve your overall trading experience .
The fee is $99/month and you will have full access to the group. Including the strategies and philosophy that we believe in and have been coaching both as a group and on an individual basis. As well as the “Forager “ robot to help you begin automating trades with numerous customizable settings. Please check the link : If you want to learn more about how you can apply these skills to a live trading account, please join our newly formed “Strategic Access Group” as part of Global FX Trading.
We moderate a chat room where you can interface with other traders. We’ll work with you one on one to teach you how to implement these strategies that we believe can increase your profitability and improve your overall trading experience . The fee is $99/month and you will have full access to the group. Including the strategies and philosophy that we believe in and have been coaching both as a group and on an individual basis. As well as the “Forager “ robot to help you begin automating trades with numerous customizable settings.
Please check the link : https://www.globalfxtradinggroup.com/the-strategic-access-group.
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