Learning to place the trade or following the trading strategy is not enough to make a profit. You have to take things to the next stage to make a living in Hong Kong based on trading. Those who are thinking that they will increase the lot size to earn more money is making a big mistake. Increasing the lot size doesn’t mean you will be able to earn more money. To make your life better, you have to push things to the next limit by using logic. For instance, learn to secure big profits by riding the major trend. You can even trade the key reversal so that you can trade the newly formed trend. In a nutshell, you should learn to place your trades to earn more pips.
Earning more pips in each trade is a very challenging task. You have to work on very important parameters and execute the plan with accuracy. But stop worrying about earning more pips. After reading this article, you will know the exact way by which you can earn more without increasing the risk.
Learn about the reversal trading strategy
Traders are always advised to trade the major trend. But this rule is only applicable to naïve traders. To earn more money, you should learn to trade the major reversal. Reversal trading is based on the complicated price movement and news factors. Start with the news data. Try to analyze the important news and see if the market is going to change its trend. Let’s say, the USDJPY pair is in the downtrend. During the FOMC meeting minutes, the FED hiked their interest on the basis of 0.25 points. So, it’s obvious that the USDJPY pair will start rallying higher. Executing a long trade against the bearish trend will be a justified act. So, learn to deal with such news and focus on reversal trading strategy.
Use the market volatility
You have to learn to trade the volatile market to earn money. Without learning to trade the volatile market you can’t earn more pips. For that, you should use Saxo Forex broker so that you never face any heavy slippage. Give importance to the professional trading environment or else you are going to face too much trouble with the technical parameters. Choosing a high-end broker is very important to your trading success. Unless you can do this, never expect to make a decent profit. Most importantly, it will reduce the risk of trading to a great extent. For instance, the traders might not hit the stop loss at your desired price on the low-end platform. You might experience heavy slippage due to market volatility. On the other hand, a high-end trading platform will ensure the safety of your fund and quality execution of the trade.
Use a long term trading strategy
You need to rely on a long term trading strategy to earn more money from this market. Those who rely on the short term trading method makes a small profit. They don’t even know how to place the high risk to reward ratio trades. To become a skilled trader, you should learn to trade the higher time frame. Though the daily and weekly time frame trading method can make you bored, this is by far the most effective way to earn money at trading. You might be a new trader, but never lose hope. Try to realize the higher importance of higher time frame trading method to become a skilled trader.
To secure more pips in trading, you have to play safe. Becoming aggressive and trying to earn more money is not the solution. Start working on your trading strategy so that you can use the market volatility in your favor. Once you master the tips in this article, you will see the change in your trading performance.