The holy grail
Many traders are looking for the holy grail trade strategy to win more pips day in and day out. Now that you have been trading a demo account, I am sure that you have had some nice winning trades, and also some devastating losing trades. I am sure you have learned from all the books, the websites, and the trader blogs that no trading system or strategy will win 100% of the time. So how can you win at this crazy forex thing?? TRADE WITH CORRECT MARGIN AND LOT SIZE TO MANAGE YOUR RISK. This is the single most important thing to incorporate early in your trading in order to keep from losing all your money in a just a couple losing trades. Best margin to put in any one single trade is a maximum of 5%. For example, if your trade account has $5000, you would risk only $250 in one trade, so trading 1 standard lot you could risk up to 25 pips loss. I know that 5% sounds small, but just think: if you can consistently profit 6% of your trade account each month, while risking only 5%, with compound interest month after month you will have profited 100% in one year, doubling your account! That is much better than any mutual fund return. The best offense is a great defense.