I was reading the Afraid To Trade blog which concentrates mostly on trading stocks and he mentions 5 ways in which you can increase your possibilities for profit.  Here they are modified a bit to fit currency trading:

1. Hold your trades longer than usual
2. Increase your position size by concentrating your capital on fewer currency pairs
3. Decrease your position size but trade higher volatile currency pairs
4. Decrease your normal position size but trade more opportunities in more currency pairs
5. Increase your market knowledge and education

In my opinion, these are decent suggestions as long as you don't compromise your trading plan or style.  These can not be forced on yourself either.  For instance, if you don't feel comfortable or if you're not familiar with trading the GBP/JPY (a highly volatile currency pair), you shouldn't just dive in without performing your due diligence.

You can find view the Afraid To Trade post here.

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No. 1 :

Great advise. Lost huge on GBP/JPY last week. Who know how many months it will take for me to make it up.
I am now "afraid to trade".

Submitted by Forex Trader • 2007-03-19 22:29:41

No. 2 : RobBooker

Did you get a chance to read his last book ? How is it ?

Submitted by SteFX • 2007-03-20 05:23:26

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