How to double your money in forex trading?

How to double your money in forex trading? 

How to double your money? A resounding question, enduring desire and difficult task for many of the people. But to think about, Is it greed? Absolutely not. Work for you and earning money for you is a smart work according to many investors. And a chance for those who would not do it?

In forex trading, multiplying your money is apparently probable rather than any other way. In modern-day credit goes to all the traders of forex for providing 1:500 leverage that is called a minimum investment required.

Here are various risk-free methods for doubling your money. We must care you, however, that these are only the approaches that have been successful in the past. There are no guarantees, but there is a significant likelihood that history will repeat itself. Your future is therefore in your hands.

The easiest way to double your money

To double up your money is not a day dreaming but you have to wait until or unless you see your money double. But you don’t need to follow charts and signs to learn complex techniques.

Open a savings account with a greater interest rate in that currency. Your money will be doubled in worth in a few years as a result of compound interest and the steady pace of interest collection.

Rule of 72

It is a rule of 72 which will help you to determine the years required to double up your money.

Divide the expected annual rate of return with the value of 72. Resultantly, the number of years is required to double up your money.

Drawback

The risky part here is that usually the higher interest rate currencies have high rate of inflation rate. So, it may cause decrees in the value of your currency as well. 

However, if you select a major currency with the definite interest rate, you are sure to succeed.

The savings account method will not be a reasonable decision, however, if you are a US citizen. Since the US dollar gradually gains value against your currency, it reduces the increase in interest rates.

On the other hand, it will be a wise choice to open an account in the States if you are a non-citizen. In this way, you can have double money. In US the interest rates are close to zero and are shown to skew north in the coming years. Also, in tough times the value of US dollar is high and usually appreciative in the due course.

The In addition, opening a saving account in the US has become boring, it is undoubtedly worth the effort.

Doubling your money with 1:2 risk-reward ratio

Advantage

The currencies which are long-term and situational based often don’t change its way.

So, the process becomes easy if you once come to know the course of the market and buy or sell on the pullbacks.

Drawback

The suggestive ratio of 1:2 and the subject to change depends on your risk and knowledge of forex market.

The Speculative Way

The thinking way is nothing rather than a short-term trading.

Since it depends on short-term price variation, it is the riskiest way for a lot and is tough to translate even for an experienced one.

The very approach is same as to the classic one. You have to select risk-reward ratio that meets to your backup. There is only difference in the number of trading activity.

The Best Way to double your money

It is surely a big task to get it right for 35 successive trades not only for the beginner even for an expert as well. We should hit directly on the problem instead of changing one problem to another.

What happens if you double your money within few trades?

Have a look at the chart below. Only 4 trades. 2 of buys and 2 of sells. There is a profit of 1600+ pips. You would have doubled your money only in 3 months with the trade of 0.1 lots with investment of $1000.

This is a short-term way. In shorter time-frames you can use the same indicators to think about day-to-day price swipes. These indicators are easy to use as well.

Look at another chart given below. In just 3 indicators the profits were 370+ pips. Trade with the lots of 0.5, you would have tripled your money.

 It could have the best way for the beginner who has just started out trading at home. Because all these indicators are very helpful for analysis of chart for you.

It is not a custom indicator which has been used in the above chart. It’s the Pipbreaker, which is in-built method for all three modes: scalping, short-and long-term trading.

Conclusion

It is surely possible to double your money in forex trading. But it is only possible with the use of good strategies. Here we have pointed out a strategy is the use of an indicator, Pipbreaker. Also, there are others are well. You can give a shot to your own strategy if you are skilled with technical analysis.

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