More elements of the strategy – closing profitable positions

When entering the market, you should not only set the maximum loss, but also set the minimum profit which you want to earn. In most common and best trading strategies the profit to possible loss proportion should not be lower than 2 to 1. It is very infrequent to use a strategy, which effectiveness does not exceed the value of 70 percent. If we take under consideration the slippages and unexpected problems, say a momentary internet connection failure, only such a proportion gives us a chance for a long-term profits. MT4 is the most reliable platform and when using it you can be sure that no bugs happen in the most inappropriate moment. Of course, it is even better, when this proportion is higher, but the 2 to 1 scale is an absolute must. What is more, we should contemplate and determine conditions when we should accept a lower profit without waiting for the previously set target level. Greed may push you to closing the position too late, say after the peak. In this particular situation, your forex broker may not be able to sell your currency pairs since the lack of demand for the pair. If you are not so sure about your skills, try using a forex demo first. Regulated forex brokers execute your orders properly. The unregulated ones try to remain in the shadow area since their insincerity. Search through the social trading platforms for best signal providers. You do not always have to follow the market. It is your task to find an esoteric strategy which remains unknown and lets you be better off. Every trader present on the market is looking for the top forex traders, so the most popular strategies and signal donors are commonly known. Try digging deeper in the web and put some creativity in your strategy. It is crucial since your future profits and losses depend on earlier preparations.

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