Teaching 3 Tips to Double Your Profit

When someone deals with forex trading the very first thing that people ask you is 'How will I earn and how much will it be?’ As a newbie trader,  this type of question is a bit difficult to answer as some trading risks pose uncertainties in your profit.  Thus,  it is a reality that there are certain moments in our trading journey when we feel like giving up because we realize that trading forex is not an easy task especially when you talk about having a fixed income.  Today,  we shall help lessen your anxieties about being unable to maintain a definite amount of obtained income every single day.  Here are some tips that you may want to take note of so that you are able to gain twice the income that you get at the moment. 

How Do We Double Our Profit?

We have mentioned that forex trading is not an easy field as you need to be fully determined to accept the challenge of having to deal with the roller coaster of emotions. We said roller coaster because every single time you perform in the market,  you will find it hard to predict if you are able to get a profit or not.  Is this a bad thing? To some individuals,  they will not wish to be involved in such a burden but for a risk-taker,  forex trading is all about taking risk and having the courage to get over certain circumstances that may happen all of a sudden.  Technically speaking, forex trading is more than just having the guts to face the risk of possibly losing your income.  This type of market involves a little bit of the technical background in order to hit two birds with just one bullet and is to double your profit even with the presence of risks.  Here are some suggestions on some ways to obtain such a goal.

1.Rule of 72

This rule may sound crazy but most financial experts can attest that this rule could serve as a good motivation to identify the required number of years you need to double your profit.  Do you wanna learn how to do it? All you have to do is to set a particular amount of profit that you wish to obtain then divide it by 72. The number that you get will define the number of years that you have to work in order to get your profit.

2.1:2 Risk reward ratio

Risk reward ratio is regarded as one of the most classic strategies to double your income. To do this,  you must decide to purchase currency pairs at a low price then keep them for your long term positions. If you deploy the 1:2 ratio,  there is a possibility that you will double your income in 35 trades provided you do experience drawdowns or losses.

3. Speculative Approach

Keywords for this trade are going short term and scalping.  With this approach, you have to start considering the fact that whatever seems to be unmeaningful for a long trader will serve as an important tool for you. Similar to the traditional risk-reward ratio,  most traders who are aware of forex trading would know that speculation concerns frequent trading in a successive manner. Because of this procedure, this approach has been dubbed as one of the riskiest approaches. 


Experienced forex traders use varied approaches to obtain a doubled income or profit.  While some may find a particular approach effective,  we strongly suggest that you have to find a way to test the waters to make sure that you find the right approach for you.  This may sound risky,  but it is the only way to make sure that the approach that you have chosen is proven to work for you. 

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