There are some traders who are playing it safe with the demo accounts while there are some who are at their own stake as they trade with their own live accounts. But no matter how they trade, with a demo or with a live account, they all dream to make it big one day, i.e., they all have faith that they are going to make big through their trades one day.
But, not everyone has such a risk appetite and can trade bigger Forex positions. Some traders have earned a small profit by making tons of efforts and don’t feel like sacrificing it so as to earn a bigger profit. While some don’t simply have that risk appetite and can’t stomach to risk bigger positions.
Though there are perks of increasing the no of risks. But, as there are chances to earn more by doing that, there are chances of suffering even more losses than before as well. It may wipe out all your money from your account.
So, the traders should think twice or thrice before increasing their risk appetite and trade bigger positions. Instead of looking over the plus points they should think about the negative ones as well. In fact, one can do that while being on the safe side.
First of all, if they are trading small positions and not performing consistently unwell even over there, they are just not ready for the shot! They should wait for the right time to come and make their way. It’s because if the trader is currently not even in a position to perform in small trade positions, then he is absolutely not in a condition to go for bigger positions!
It’s not a thing to worry about as the performance of the trader would gradually improve with time. But, for that, he needs to be patient and try his best to improve.
The next thing he needs to do is, as I have stated above, he should have patience and wait for the right time to come. A trader going to improve overnight. Just like every other thing, his performance will also need time to improve. Thus, he should be patient and go step-by-step especially when it comes to increasing the position size.
Now, last but not the least, he needs to focus on the percentage and not on the Dollar amounts. If a trader risks 1% of $10,000 amount then it’ll be equivalent to risking $100.
On the contrary, if he risks 1% of $1,00,000 amount then it’ll be equivalent to that of $1,000. In simple words, if he’s risking the same percentage on a bigger account then he’s basically trading larger positions.
So, he should focus more on the percentage.
Thus, these were just some tips can turn out to a big help for the traders following the above guidelines can help them well in the future.
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