I wish I could edit the first post. You qualify as long as you are really profitable and can get an annual return of at least 50% But with what leverage do you get 105pips? People are talking about pips all the time, but not with what leverage. Someone who got 105 pips with 10:1 leverage is 40 times less as profitable someone who got it wit 400:1 leverage.
OK, I'll cut you a break. I make 100+ pips a month using low leverage, because it cuts both ways. Find indicators you are comfortable with and trust them.
Using a higher leverage doesnât necessarily mean that you risk more money on the trade if you only use 5% of your capital on each trade and simultaneously you use all your capital, which means you would have to have 20 trades. In this case you will be more effective with your capital. Not using ones capital is stupid, you would do better putting them in a savings account. One argument here would however be that one should not place an order if he canât recognize any opportunities. Well, if you want to be really profitable, you will have to devote a lot of time, and have an eye on at least 20 currency pairs, and then you will recognize more opportunities than you can place, however it depends on how strict your criteria is. If you feel you get too many opportunities, get stricter and therefore more quality opportunities. The more currencies you can keep an eye on, the more profitable you will become. Its very important that you design your trading strategy so that you can use higher leverage and be more profitable, since that is what you want. If you know that you can get the same amount of pips with 30:1 with your strategy utilizing 20:1, but you have to change a couple of things, do that immediately. 30:1 leverage would make every pip 50% more worth than if you are using 20:1 which basically means that you would still benefit of getting an average of 4 three pip with 30:1 than 5 pip with 20:1 Try and find the best possible leverage, that will allow you to be most profitable, and make changes to your system if necessary without being stubborn. Remember, without being open minded, you will never develop yourself as a trader. You have to use stop orders that are only a fraction of your sell stop, so you get a win ratio of at least 2:1. In that scenario there is only two possible outcomes, either losing or win double the amount. You would however have to buy volatile currencies and calculate your chance of winning, and maximum drawdown. If you invest 50% of your profit in another strategy taking less risk, you will decrease your drawdown tremendously. If you are good at math, you can calculate the best take off between the two. It is of utter importance to get out, and get in, and scale your position if a certain risk barrier has been reached. You can increase your order if you believe the chance of it going up is higher. Being efficient with ones assets is a rule you should keep to your heart. Always try to use 100% of your capital, because you can always make money with money. Thus, hedging by buying the opposite of your currency pair is stupid. Not only is there any difference to just sell your currency pair if you are unsure, and then buy it again when you have arrived upon a conclusion, but it requires twice as much money.
drasfs.......The only advice you have given, and will get in return, is THEORY on trading successfully with Forex. You won't get what is key and that is LIVE TRADES to back up the theory. Can you back up your 8 paragraphs with live trades?
agin1415.........what every happened to Mountainterd? Maybe he could help drasfs get his 100 pips per month.
Please, uninvited, lets not refer to another brother elite trader in that way. But my guess is he made his 500 pips and is taking the rest of the month off.