There are many proven ways to double your forex account I have come across. You may have a system working for you. If you are able to increase your forex account balance by 30-35% every month consistently, you will be able to double your account easily within 12 weeks over and over again. With my personal experience in forex trading, I found that the following strategies that I learnt from my mentors in the industry are the best ways to trade.
- If you are not a professional and you don’t want to be a gambler, don’t trade below 4hour time frame. I always wonder someone with less than 2 years experience trying to sit down all through the day at the front of the computer waiting for signals. You will not make money consistently like that. They want to scalp every time. It won’t work like that. That trading strategy is a mental game. It has only 1% winning rate either you believe or not. Institutions don’t scalp. They create the trend and every good traders jump into the market with them.
- Do you know that Forex market is not controlled by indicator?. That is why many get it wrong. The lesser the indicator you have, the more chances of surviving in forex. Many good traders don’t even use any indicators at all. They can predict accurately what is going to happen next by just looking at the pattern. Keep your trading so simple. Even if you trade only ten times in a month on daily time frame with the right set up, you will make more money because good traders trade with their eyes focused on the price action and not on the indicators. Train your eyes to see what other professionals see. Personally i use few indicators but based on price action, momentum, market strength.They are so powerful that it makes my work very simple. I love forex trading.
- Trade only trend direction with momentum. You have heard that trend will always be your best friend in trading. Trade trends, filter all trends, and flow with the big dogs. Any time you notice big orders (momentum) along the trend, if will be good to get along too if you know how to do that. Get powerful softwares that never lag, that are based on momentum, market strength, price action and trend to keep your trading interesting and more profitable. From my experience, with these, you can easily double your account.
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by Daniel Adewa