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Micro Lots.02 2,000 Micro Lot.01 1,000 Half a Micro Lot. There are many platforms available but MetaTrader 4 Platform (MT4) is the trading platform used with Craig Harris Forex Trading Methodology. Even if you have the passion towards Fx trading and have the patience and discipline required for FX trading there is a key component remaining in becoming a successful trader. After completing a series of trades, congratulate yourself on a job well done and allow yourself to be emotional, happy and excited about your accomplishment. The control of emotions is very important and a key element developed by all successful women and men in all areas of work and play.
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Patience Patience, Patience, tience is essential with Fx trading. Refer to the Forex Trading Methodology manual created by Gene Ballard for details related to trailing stop losses. A good illustration of a pip can be demonstrated using the US currency system. In its simplistic form Fx is the process of exchanging the value of one currency against the value of another based on the current exchange rate between the two currencies. If in a sell trade the bearish movement will be profitable. Remember, a lock in profit cannot be placed unless there is at least a three pip profit. The platform can be downloaded from CompassFX. If the trader does not add funds the broker will automatically close the position. Leverage / Leverage Ratio /Margin Account - Leverage is the ratio of the amount of money borrowed from the Fx broker to the amount of money the trader has to contribute.