I introduced this concept subtly last week in the LIVE Forex Training. This week I’ll be teaching it in depth.
After all, who doesn’t…
Want to Make More Money?
Get Paid More Often!Ok. I know you’re thinking “DUH! I’d love that!!! But HOW???”
Let me explain.
Two Types of Profitable Trades
Most forex traders think that if their trade is in the profit zone (i.e. it’s a trade that’s currently profitable), that they should just wait for their limit to be hit & get out. Heck, I even teach to do EXACTLY THAT in the basic Forex Sailing course.
And it works. But there’s a more “sophisticated way” to look at your trade.
The speed that prices move in the forex market changes. Sometimes it moves faster, sometimes it slows down.
Sometimes prices are moving faster than average. Sometimes they move slower than average.
The Perfect Horse Race to Bet On
Imagine that you bet on a horse at the track. But this is a “special” track. You don’t just win if your horse wins the race. You can close your bet for a profit ANYTIME YOUR HORSE TAKES THE LEAD!If you could bet like that, do you think you could make money?
Well you can’t bet on horses like that…but that’s EXACTLY HOW THE FOREX WORKS!!!
A Bird in the Hand is Worth Two in the Bush
You’ve probably heard this expression. Profits in online forex trading only COUNT when you close a trade. So it makes sense that you should look for ways to pay yourself more frequently by cashing in when your trade TAKES THE LEAD (i.e. is profitable).
How can you get paid more often?
You get paid more often by taking profits earlier in a trade. The trick is to know “how” to do this.
I mentioned above that prices move faster than average some of the time & slower at others. If you close your trade when it’s profits are moving faster than average, you’re going to win!
There are several methods for doing this. I closed a very profitable week last week by using this method that I shared with my LIVE Forex Training students.
I’ll be talking more about how to take profits early on trades in future rapid forex blog posts. To learn these advanced early exit profit taking steps in live forex trading conditions, enroll in the LIVE Forex Training today. I look forward to working with you personally to help you succeed once and for all at online forex trading!
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