There are many ways to boost your
trading result effectively where it has been shared by many professional traders. This can be your reference to be as successful as them.
However, some of those tricks are maybe quite complicated, especially for a beginner trader. That is actually quite normal since a strategy used by trader sometimes doesn’t match to others.
Don’t give up here because there are still some easy ways which you can follow in order to raise your trading result. Learn about that and do everything in a more discipline way to get the result.
Easy Ways to Boost Your Trading Result
As it has been explained above, the tricks below are not complicated to follow. So, you better take your note and write these tricks to start from now.
1. Don't Open Position too often.
How is it possible? In this case you have to remember the cost in trading which is called the spread. It means that you have to understand about the existence if spreads.
Sometimes, for some pairs it can be quite large that "eat up" your profits. Every time you open-close a position, the more often you are exposed to "spread fees". So, it is advisable not to open-close positions too often to boost your trading result.
If you feel that the trend is still strong and in the same direction as the position, but want to first secure the profit that has been obtained, it is better to just shift the stop loss.
That is better to do instead of closing one position and then opening again in the same direction. This trick has been done by many traders before.
2. Widen the Stop Loss.
Remember that the wider the Stop Loss (theoretically), the higher your chances of making a profit. It means that to boost your trading result will be easier.
The narrower the SL, the narrower the price gives you a chance to sway before following the major trend which have identified. The SL that is too little is getting easier and easier to get rid of.
That is why, many traders consider that SL "accelerates" losses. So, make enough room for this price shake so that your SL is not too easily touched. As a benchmark for short-term trading, SL should range from 23-35 points.
However, it should still be remembered that the Stop Loss should be set "the amount of loss you can bear". It is not recommended to trade without a stop loss, because it is necessary to "limit" the losses that may occur.
3. Widen the profit target
Do not open positions, unless you are sure that you can get a profit of 100 pips or more. It is great to boost your trading result effectively. Moreover, do an open position based on "it looks like it will be green.
Wow, if that's the level of confidence, it's better not to just OP. Remember that your profit will still have to be cut by the spread, and you already bear the risk of loss by opening one position.
4. Use a 4H (or more) Timeframe
Many trader think that TF 4H is the lowest false signal. Also, if you are hoping to make a profit of 100 pips more, then using a chart with a relatively high TF will make more sense. It is usually to make it easier to identify the major trends that are happening. It is also good to boost your
trading result.
Good Broker will be Helped
Joining the best forex broker is always recommended. This platform is usually under a regulated institution, and has many more advantageous services too.
Didimax forex Broker is an option which is recommended by many traders. It is a legal one, has a low spread, competitive price, direct market access system, and more amazing services.
Check the official website to know more about it and join now for free. You can boost your trading result more effectively with Didimax.