All my risk takers are going to agree with me, long term trading is boring. We didn’t get into trading to sit on the sidelines; we go into trading to make money and to make trades. How much of a trader can you be if you hardly trade at all. I share all of these sentiments and I do that most traders who think like this are losing traders. Traders who look for action pretty much are looking to lose their money. Even with knowing this, there’s a part of me who has to have some action.
This article is going to be about how you can trade as often as you want using almost any strategy without going broke. This is for my gamblers and risk takers. You know who you are! You probably don’t care that long term trading has a higher ROI and exposes you to less risk. Let’s throw out all those safe guards and speed down Forex road without a seat belt.
I definitely understand that making trades and out smarting the market is a ton of fun. It’s even more fun to try short term strategies that can make you a ton of money in a short amount of time. Hey upping your leverage and making a large amount of money per pip is exciting. It’s rarely profitable but it is a thrill.
My goal is to teach you how to trade in a risky way without going broke. The emphasis is on not going broke too fast!
Let’s be clear, the way that you like to trade is how most people lose money. So, lets slow down the speed at which you lose money. We will make it so that you can make more trades and get more experience on any size of account.
So what is the big secret behind this concept? The secret is money management. Yes, those two words that every trader should love. Proper money management will keep you in the game to die another day.
Since I am giving you carte blanche to trade in any style you want, please conceded this one thing. To make money management work for you, you have to be willing to trade a smaller lot size and you have to turn your leverage down to the minimum amount. This means that you will be using less money on each trade. Instead of losing $30 dollars on each trade, you will only lose $5. Instead of risking a huge amount, risk a small.
You have the freedom to trade as much as you like, just reduce the amount of money you risk.
Yes, this will cap the amount you can earn, but be serious, you are not a winning trader, and you are more likely to lose money. This will allow you to figure out what works and doesn’t without risking too much money.
As you can see, this is the secret to trading a risky and discretionary strategy without losing your shirt.