If you want a simple piece of advice which can help you make bigger Forex profits then you should learn the 80-20 rule and apply it to your Forex trading strategy. Let’s look at it in more detail.
The 80-20 Rule is used in many areas of life and is frequently used in business. In the world of business it simply states that, 80% of your sales or profits are likely to come from just 20% of your clients. So it’s a minority of clients, who produce the bulk of the profits. The 80-20 Rule is really all about concentrating on the 20% „that matters“ now, let’s look at how to use it in Forex trading for bigger profit potential with less risk.
In Forex trading most traders simply trade too much.
They scalp or day trade or think the more they trade the more they will make in terms of profit and these traders lose.
The simple reason is they take low odds trades and make the assumption that, the more effort they put in or the more they trade, the more money they will make but they end up losing.
Forex trading has nothing to do with effort, its all about the profits you make from your trading signals. If you want to make bigger profits and take less risk, cut your trading frequency back, trade less and focus on high odds trading setups only. You can trade just once or twice a month and pile up triple digit annual gains, if you simply focus on the best opportunities. If you do this, you will trade less, enjoy better odds of success and this means:
Bigger profit potential, with less risk and best of all, you will spend less time on your trading. So when trading Forex, always remember the 80-20 Rule, focus on the 20% „that matters“ and hit these high odds trades for bigger Forex profits.
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Source by Samuel Leslie Berkovits