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How to make a decent profit with a simple trading strategy

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  • How to make a decent profit with a simple trading strategy

    There are many misconceptions among the traders of Forex. It is not their fault because it is hard to know if the information they are getting is correct. One of the pieces of misinformation that has spread among people is, if you use a complex strategy you will make more money. It has no truth to it because your profit is not related to how complex or simple strategy you have developed and now use. If you want to know the secret of professionals, they will always say that it is because of their simple strategy. Do not get the idea that they are trying to double cross you. They are telling the truth because when you want to make money where the volatilities are coming and going every moment, you need to have a simple plan that will keep you from all these worries. It is not important if the plan is simple as long as it can give you profit, it is successful. This article will tell you how the simplest plan can make a trader successful against the volatilities. If you do not read this article, you will not know how even a simple plan can change your career.

    Keep things simple
    Rookie Aussie traders always love to trade with a complicated trading system. In fact, they want multiple monitors from the start of their trading career. However, fancy trading strategies or trade setups have nothing to do with your success. The elite class Aussie traders make a consistent profit based on the simple concept of support and resistance level. Forget about the EAs and indicators in the retail trading industry. Try to develop your skills by reading books and articles.

    Some of you might think trading CFD is not that profitable. In reality, this is the most profitable business in the world. Once you start to understand the language of the market, you can easily change your life within a short period of time. Never think you can make a consistent profit with a complicated trading system. Always remember, success lies in simplicity.

    Every strategy is successful if it is in the right hand
    If you know how, you can turn a boring strategy into a perfect and successful plan. You do not need a complex strategy that codes the patterns, analyses the signals and give you many possible outcomes. A simple strategy that can predict the future price levels of the currency pairs is all you need to make money. Remember, when you are using a simple strategy, you have less chance of distractions. This is why it is easier to drive a car than it is to fly a plane where you have buttons all over the cockpit. The strategy of making money is also simple in Forex, buying and selling. Do not make it complicated and go with a simple plan.

    Every success has a foundation of humble beginning
    This is the truth of modern times and also of times past. Whatever successful businesses or professionals you see in the industry, they all had a humble beginning. They did not carry electronic tools that would be done the work for them, they all used their brain to develop the strategy that was needed for their success. Imagine you want to start a business and you want to become successful among the professionals. It will not need a lot of money but only your hard work and practice. This is what makes a Forex trader successful and able to stand out from the others when they use a simple plan. They are focusing on making money and all the other things are left out, giving you more room for development. You can try to outsmart Forex but you need to be wise to make money. With a simple, humble beginning, it is possible to make money when using a simple strategy. So stop trading the market with complex strategies.

  • #2
    It depends on what a decent profit for you. It is not so easy to get profit simply having only one strategy, you need to be able to use it and understand the market.


    • #3
      I think the rules mentioned in the original post apply regardless of one's definition of a decent profit.


      • #4
        How to think is easy when we're desperate financial condition?


        • #5
          In my opinion that advice applies to experienced traders too. There is no need for complicated strategies if a simple one can do just as well.


          • #6
            I agree with the term humble. because it's one of the factors of success.


            • #7
              True. If you get too proud about your trading the market finds a way to bring you down a few pegs.