Forex profits CAD 30 on a USD 1,000 account

Profit While CAD 30 on a USD 1000 account is not a big deal and we made CAD 30 so here we are now where the price is, I’ll let the forex trader decide again the forex trader has no idea how to trade he knows what the pip is, He knows how to calculate position size, he knows some basics like support resistance and things like that but he has no idea how to trade and has no experience so he’s throwing darts at a dart board blindfolded saying buy or sell.

Forex profit of 30 CAD on a 1000 USD account

I’m going to show you again forex trader what you want to buy or sell now do you want to buy and the forex trader has chosen to buy we’ll see how that plays out so we’re going to buy this standard 01 contract and we’re going to play it forward and as you do that you’re going to let By going into profit or loss, so this happened to go into profit, do now you can do one of two things, you can close it or you can keep it what do you want to do let’s keep it, KK’s going to keep it.

So we’ll click run, and we’ll see what happens sometimes it takes a long time, things like a kind of range, things going side by side, this could take a few days, so the price has now reached the previous highs someone calls this area a zone Resistance, so it’s a profit of 18 Canadian dollars, you have the decision you can hold it or close it, I’m going to close it so the forex trader will close it and that’s a smart decision, young man, so we bought here.

Profitable strategy for making a profit directly on Forex

This happened to make a profit right away and there was no management and there was no dollar cost averaging which just adds to the losing trade there was nothing it just happened to make a profit which you generally wouldn’t do there are a lot of trades and not a lot but like half Trades will move to profit initially, the other half of the trades will move to draw initially.

If the trade size is small enough in a way that suits you, position size allows you to add to losing trades, called recovery trades, to help you exit trades where you made a mistake on the first entry because you are bad at trading.

And you can still fail at trading and make money as long as you’re controlling risk. I’m not saying that think a little about what I said, you can still fail at trading, which means you can’t predict things more than 50% of the time.

You can still make money if you control your Forex risk

The risk structure allows you to continue to profit even if you are wrong two or three times in a row, we will encounter a situation here, I am sure that at some point in this article where a forex trader has been wrong like 3 four and five times in there is a row that we can still make a profit from.

So watch the forex trader what do you want to do here, you want to buy or sell, I’m going to sell, so we’re going to sell, the forex trader thinks he’s going to sell great at the resistance we’re going to let it make a little bit more profit or loss, and we’ll see that, and now this goes down here in the trader Forex and profit 13 CAD.

What will you do, will you continue to wait or close and close it now? What do you want to do, do you want to buy sell, or buy back, Kirkman is playing ping pong with the market now, so this has now gone into the draw, and it’s negative 10 around negative $10, you have a choice that you can either keep or you can Keep it add we’ll go ahead and add.

Reducing the average Forex position size based on cost

So the forex trader will add here and this brings down the average position size based on cost to here where this blue line is now, and we’ll see what happens, so the forex trader has a choice that he can either hold this trade or he can close it at break-even, which You want to do it at break-even so that he closes it at break-even.

Then now what position are you going to go to we’re going to buy again so basically Cook is going to buy what he did is reduce his size, he was in a buy here and then another buy here, so this is 02 lots, he’s back to break even and he was able to get out of So at the breakeven point the long position will resume but this is with only 01 contract so this essentially reduces the risk.

Make some profits in Forex if you want to keep them

This guy goes into profit and then comes back into the entry now he’s on his way to the drawdown and keeps going down into the drawdown but then comes back in now he gets into the profit and makes a new high let’s see if he can go further, this is boring Occasionally.

So now he has made some profit where do you want to keep it or do you want it to close and go ahead and take my money, keep in mind that a forex trader has no idea what he is doing, we are only using 01 lot size in a cat account that simulates 1000 cat and so far he has made $80, So that’s about 8% growth if we can get it to make a profit of $100.

Summary

We’ll go ahead and start here and we’ll see how long it took and then we’ll talk about a little recap you want to buy or you want to sell I’ll sell it so remember a forex trader has no idea what he’s doing he’s not using support resistance he’s not using trend lines he’s not using any kind of structure The market, he doesn’t use exponential moving averages or Fibonacci or smart beef, institutional liquidity manipulation, institutional candlestick entry strategy, he just looks at the damn chart and he doesn’t know it looks like I sold last time in forex.