However, as you saw above, even the smallest positions, can add up large profits in this market over time.
After all, anyone who’s trading in an account will surely still want to trade that account four short months from now. However, if you start off slow and easy, you can still end up with a very large return a few months later.
Sure, there are traders that double their accounts in 30 days. These are the same traders that run the risk of “blowing up” their accounts within 30 days too.
It’s not impossible to trade Forex with less risk. You simply tailor your Forex trading to your own risk level. You do this by trading fewer lots in a smaller account, and adjusting your lot size so you minimize your risks over the long haul.
I’ll be back tomorrow with more on how to do that. Till then…
Happy Trading!
Sean Hyman, aka Professor FX
EDITOR’S NOTE: Ready to punch up your Forex trading to the next level? Did you know that exotic currencies can be as much as 500% more profitable than trading the regular majors…and they’re MORE predictable. Find out how you can add them to your portfolio here.
