10 Tips That Can Build Up Your $120 to $750 in 15 Trading Days

Trading in the forex market in micro or mini lots to a success level could be taxing, and at times very frustrating if not properly handled. To trade an account of about $100 or $120 to a reasonable account size you need to carefully follow these ten tips highlighted below for your successful trading as these tips were obtained out of trading experience.

1. Understand the key Japanese candlesticks reversal pattern.

2. Sell only in an overbought market. The market is overbought when there are few or no more buyers (Bulls) in the market or there is nothing more to buy or no more money to buy what is left. Some of the technical indicators to use are stochastic oscillator, RSI, etc.

3. Buy only in the oversold markets. An oversold market is one in which there are no more securities to sell or great majority of the sellers (Bears) have left the market. The indicators to still use are stochastic oscillator, RSI, etc.

4. Do not over expose your account equity. Maintain an account expose of between 10% and 20%.

5. Understand your best entry and exit points using pivot points and Fibonacci retracements.

6. Never entertain fear even when the market moves against you. If you have a good trading system, it will surely come back in your favor.

7. Do no over trade. Learn to draw a line between overtrading and fear. In a bid to recover what you lost in the previous trade you might be tempted to over trade, please be very careful. Know when to close your platform for the day and wait for the next trading opportunity, because there will always be one.

8. Do no be greedy. Just be committed in the way you conduct your affairs.

9. Make it a point of duty to know when the market is flat or when the trend is weak and trade accordingly or stay away.

10. Do pray before making a trading decision as God will always provide a shinning light at the end of the tunnel. Many will never tell you this, but I believe in the efficacy of prayers and it has worked greatly. But, do not forget that we must be adequately trained and prepared for any of these tasks above as only prayers will lead us no where near success.
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