Saturday, April 25, 2015

CAN YOU LIVE OFF OF 10 PIPS PER TRADE?

If you trade 1,000,000 worth of currency, each movement would be equal to $100. So if you bought at 1.1445 and sold at 1.1545, you would make 100 x $100, or $10,000. Now, I don't know about you, but I could live off of that much.
That's not saying, however, that you can make $10,000 per day. Of course it's possible, but there are a lot of factors that make it very difficult. Consider the questions below, that you might ask yourself before trading:
When should I get in a trade?
Where should I place my stop loss?
What happens if something goes wrong?
Even more importantly, can you deal with the emotions of forex trading? Alan Farley, a trading expert, rightly observes that mastering the emotions of trading is more difficult than mastering the technical skills. You’ll soon find out what he means by that.









1 comment:

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