TIPS: MAXIMIZING PROFITS OF Silver SYSTEMS
1. Define Simple Trading Rules & Follow the Trend
The simpler the xagusd trading system is the better. If the trading system is too complicated, it will be very difficult to stick to the rules. Complicated silver trading systems are also very confusing. A simple trading system makes it easy to follow the trading rules.
2. Eliminate Risk Quickly and Let Profits Run
Minimizing trading risk is far more important than making money. Our first aim in silver trading is to make the trade less risky. We do this by entering only trade setups, setting stop losses, cutting losses quick and never average down, and letting the profitable trades run for a while, just long enough but not too long so as increase the profits. Profitable trades are only kept open as long as the silver trading system shows the trend is in place, these transactions should be closed immediately once your exit signal criteria is generated by the xagusd trading system.
3. Choose the Right XAGUSD instruments
Once you have your silver trading system, you will want to start testing it on a demo xagusd trading account. A trading system will give different results for each silver.
To maximize the profitability of your trading system find the most active market hours for a chosen silver trading instrument and trade during that session only.
4. Use XAGUSD Trading Money Management Rules
Always risk less than 2% per silver trade transaction. With compounding, you'll be surprised to see how quickly your silver account grows once you start to trade with a profitable trading system.
5. Keep a XAGUSD Trading Journal
Keeping a log of all your xagusd trades will help you to become a better and better and will help you follow the trading rules of your trading system. A silver trading journal will also keep track of your profitable trades and losses & you can analyze why a trade setup was profitable and why it was not.
6. Set take Profit Targets
Establish a daily, weekly or monthly profit targets when trading the xagusd trading market. Once you hit this target. This will stop you from over-trading and will also stop you giving back your profits the xagusd trading market. Keep your reward to risk ratio high, a 3:1 reward to risk ratio is best. This means opening silver trade transactions only when you've the probability of making 3 times what you are risking.
Examples of signals generated by our silver trading system
Example 1: Buy Silver Signal and Sell Silver Trading Signal Generated By Silver Trading System
Buy signal is generated by the indicator based trading system, then an exit signal is generated before another reverse sell silver signal is generated on this xagusd chart
Example 2: Two buy silver signals generated by Trading System
Two buy silver signals are generated during the upward silver trending market
Example 3: Exit Signal Generated by Trading System
Examples of Signals Generated by a Silver Trading System
Other Tips
Learn Silver Education
First tip is to learn about the Silver Trading Market (Learn XAGUSD Lessons), those who don't learn the required trading knowledge from the various silver trading tutorials online will not improve their silver trading results no matter how many tips they have read. By not learning silver trading, these traders will keep making the obvious mistakes made by beginners without even realizing what they are doing, XAGUSD is a wide topic and in order to make profits a trader will have to learn silver trading first.
Get a Silver Trading System
A xagusd trading system is a must for every trader, a trading system is used to determine what silver trading decision to take. A silver trading system gives a trader an edge over others who don't have a silver trading plan. A good silver trading plan is one that is back-tested and proven to produce profitable xagusd trades. After coming up with your trading system you should back-test it on a Demo Silver Trading Account.
Learn Silver Money Management
Learn about The Various Silver Trading Money Management Lessons, don't attempt to trade the online silver market if you do not have silver trading money management guidelines. The 2 silver trading management lesson that you must learn are:
What is Silver Trading Money Management
Silver Trading Money Management Methods
Learn about Silver Trading Leverage & Margin
If you don't know what is xagusd leverage and how it works and how it can affect your silver trading margin, then you will not make any money in the xagusd trading market and you will lose your money in the xagusd trading market.
Have a Written Silver Trading Plan
A silver trading plan will take into account all the above silver trading tips and summarize them within one document that you can use to trade the online xagusd market.
In General
The first goal should be taking your time to really determine what your silver trading goals are and how much money you wish to make. Once this is determined then the following three suggestions will help you on your way to start Silver Trading. It is essential to keep all the three goals in mind when executing all of your silver trade transactions but at the same time this isn't a black & white guide to silver trading success.
The first thing is to remember that you really need to work with short term xagusd trades until you become profitable and know how to properly monitor these trade transactions. You should trade silver trading short term because this way you can monitor your silver positions and quickly close any silver trading position whose trading signal setup reverses. In order to truly benefit from the silver trading system you have to be willing to take up the effort to watch the xagusd trading market to see exactly how long you can keep your money invested in the online xagusd market. Making short term silver trading investments will help you to monitor your xagusd trades and control all the risks, do not leave silver orders open when you are away from your computer or when you are going to sleep, close all silver trade transactions & only open silver orders when you can monitor them.
Although it is very important to increase the amount of xagusd trades that you are investing each time that you trade - some silver trading guidelines should to be followed. The general rule of silver trading tends to be never to trade more than two percent of your total silver trading account equity. This of course makes sense when you have a lot of money in your silver trading account but what if you only have a couple of hundreds. Two percent of $10,000 equals out to be $200. Even though it is safer to follow this rule it really does not make a lot of economic sense with smaller silver trading accounts. If you are investing on Silver this is when silver trading leverage kicks in to effect and makes all of the difference. In General the more silver trading capital you have to invest the better in terms of silver trading money management.
Final suggestion is taking a bit of time to make sure that you get all of your silver trading details correct before opening any one trade transaction, this will be the best method. Keep it simple makes just as much sense in silver market than anywhere else. Although this may require more time & effort to build up your silver trading profits it will save you money in the long term.
Trying to keep your thinking as clear as possible will make your silver trading journey easier but knowing when to break from the norm is also important. Moving towards the right path will make success that much more easier to obtain and by learning all of the steps and logic you will be able to continue making profits. Silver is not hard to learn but a lot of traders lose money quickly because of not taking the proper steps in preparation and learning.
