How To Increase Forex Profits 100% in 10 Minutes

[james]

Hi There everyone


This simple exercise will increase Forex profits 100% and works for 99% of all short-term FX traders - stop trading so much - widen out your stops - widen out your profit targets - and only trade in the direction of the trend indicated by 4 hour chart.

1) Stop trading so much

Sure there are no commissions but the spreads are HUGE and believe it or not (well you'll believe it after you do the simple exercise below) the spreads are reducing your profits 100%!

2) Widen out your stops

Initial stop loss should be a minimum of 23 points for short-term trading.

3) Widen out your profit targets

Unless you think a trade can make you minimum 30 points or more don't do it.

4) Only trade in the direction of the 4 hour chart

The real money is made in the direction of the trend

Simple exercise

1) Download all your trades for the year into an excel spreadsheet (if you don't know how to do this ask your broker for help).

2) Determine the dollar value of the spread for each trade.

3) Sum up the total dollar value of all spreads for all trades and add this number it to your current account balance; this is your spread adjusted account balance.

4) Take your spread adjusted current account balance and divide it by your opening balance at beginning of year; the result will be a percentage change.

5) Take your actual current account balance and divide it by your opening balance at beginning of year; the result will be a percentage change.

6) Subtract your spread adjusted year to date percentage change from your actual year to date percentage change.

7) That number should be 100% or more

8) Take the necessary steps as outlined above (1 to 4) and improve your results 100%

Regards

Jimmy young

[topgun]

I am finding this to be so true. I have been trading the GBP/JPY on the 4 hour chart with wider SL/TP and have quadrupled the profits with a lot less time monitoring the charts. Up 280 pips on the last movement alone . Theres a lot less noise and I believe the candlestick charts are a lot more reliable than the 15 minute chart. How would you determine your exits on the 4 hour chart? Would you pick majoe S/R on the daily chart or watch for it to hit a MA? Have you traded your latest IB strategy using 4 hour charts yet?

Thanks for all the good informative posts.

Topgun

Originally Posted by james

Hi There everyone


This simple exercise will increase Forex profits 100% and works for 99% of all short-term FX traders - stop trading so much - widen out your stops - widen out your profit targets - and only trade in the direction of the trend indicated by 4 hour chart.

1) Stop trading so much

Sure there are no commissions but the spreads are HUGE and believe it or not (well you'll believe it after you do the simple exercise below) the spreads are reducing your profits 100%!

2) Widen out your stops

Initial stop loss should be a minimum of 23 points for short-term trading.

3) Widen out your profit targets

Unless you think a trade can make you minimum 30 points or more don't do it.

4) Only trade in the direction of the 4 hour chart

The real money is made in the direction of the trend

Simple exercise

1) Download all your trades for the year into an excel spreadsheet (if you don't know how to do this ask your broker for help).

2) Determine the dollar value of the spread for each trade.

3) Sum up the total dollar value of all spreads for all trades and add this number it to your current account balance; this is your spread adjusted account balance.

4) Take your spread adjusted current account balance and divide it by your opening balance at beginning of year; the result will be a percentage change.

5) Take your actual current account balance and divide it by your opening balance at beginning of year; the result will be a percentage change.

6) Subtract your spread adjusted year to date percentage change from your actual year to date percentage change.

7) That number should be 100% or more

8) Take the necessary steps as outlined above (1 to 4) and improve your results 100%

Regards

Jimmy

[jcarrier]

Hi James, I believe you are a valuable asset to this community. I know you have a few different systems you trade right now but I need to follow your advice and stick to just one, study it and learn it.

I really like the system that you said that you use for 5 years and the bankers use with the IB, right now I am still trying to get it right, everytime I take the trade I am barely breaking even b ut I haven't paid much attention to the stochs.

Should I always wait for the Stochs to be at 80 or 20?

Also you said to only trade with the 4hr trend but we dont use that in this system at all?

What advice can you give me?

Thank you for all your help...Joe

[toptick07]

Nice post, Jimmy. Items 1 and 4 are gold.

I don't fully understand the exact number of pips you calculated in points 2 & 3. Just curious: How did you arrive at those numbers and do you believe they apply equally to all other traders and trading approaches?

Oh, also... Can you clarify what you mean when you say in point 1, "don't trade so much", and then list SL and PT numbers for "short term trading" in points 2 & 3? It just isn't clear to me how those ideas fit together.

The spread adjusted account balance is a real eye-opener and fully reinforces your first point.

[james]

Hi

Point
1

Means you dont need to make lots of trades per day all you do is pay pips to your broker try two make 2 good trades wait for the good ones.

2
Dont set your stops to small with like the £/$ its a very choppy give them room

3
Try to make a least 20-30 pips per trade as above 2 good trades rather than lot of little ones unless your a scalper.

Hope this helps

James

[groovenator]

Am I the only person here who sees this guy post only generic crap that you can find in just about any Forex e-book in existence. It is pretty funny he basically quotes ebooks word for word.

This is really entertaining stuff, widen out your profit targets. How generic can that be instead of widening out your profit targets how about learn to spot when an trade is exhausted and bail at the appropriate time. You say unless a trade can make you 30 pips do not take it? I always take trades with small stops and 20 pips goals. Sometimes when the 4 hour chart is ranging all there is to do is trade ranged making 20 pips per trade.

[toptick07]

Originally Posted by groovenator

Am I the only person here who sees this guy post only generic crap that you can find in just about any Forex e-book in existence. It is pretty funny he basically quotes ebooks word for word.

This is really entertaining stuff, widen out your profit targets. How generic can that be instead of widening out your profit targets how about learn to spot when an trade is exhausted and bail at the appropriate time. You say unless a trade can make you 30 pips do not take it? I always take trades with small stops and 20 pips goals. Sometimes when the 4 hour chart is ranging all there is to do is trade ranged making 20 pips per trade.

I thought you may have picked up on my reply to james. As expected, no understandable explanation from 'james" regarding points 2 and 3. Hmmm...

To be fair, some of these articles are worth reading. By posting the information, less motivated prospective traders may be exposed to ideas that they would not have found on their own. I just think james should give credit to the author and post the link to the original article so interested parties can further research the ideas presented. How about it james?

[groovenator]

A link or the name of the author would be good.