Profit Calculator for Better Money Management
This calculator serves as a tool to calculate the profit/loss based on the price levels, lot size, currency pairs, and trading positions that you have opened.
The most important thing about profit is to maintain them consistently. There's no use in gaining a big profit if you can't follow it up with continuous success.
Additional FAQ
What are the drawbacks of pursuing quick, large profits in trading?
Seeking quick, large profits often involves higher risk and can lead to substantial losses. It may also result in emotional stress and impulsive decision-making. That is why beginners are not advised to use this method in trading.
Continue Reading at How Much Money Do I Need To Trade Forex?
How to set stop loss and take profit in NFP day trading strategy?
Using a 5-price-bar method, set a stop loss one pip below the previous swing low. Place the stop loss one pip above the previous swing high if it's a short position.
As for the profit target, you can use the difference between the opening price and the initial move cut in half. For example, if the initial move is 100 pips, the profit target should be at least 50.
Continue Reading at Day Trading Strategy on NFP Release
Is it possible to generate profits by utilizing a 1-hour trading strategy?
Yes, it is, provided you conduct a comprehensive analysis and have clearly defined entry and exit points in place.
Continue Reading at 1-Hour Trading Strategy for Beginners
Use the ATR (Average True Range) indicator to measure how far the price will move. For example, if an asset has an ATR of $10 and has reached $2 at the opening, there is a potential profit of $8 for the day.
Continue Reading at Simple Day Trading Strategy with OHLC
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