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I think it is important to have forex strategies that help maximize your profit margins. I've been in this business for many years now and it took me the longest time to learn how to do things properly. I've made a lot of mistakes and learned a lot of lessons. Through this I was able to learn a few things. 1. Don't Diversify I'm not a person that follows trends and this is definitely one of the worst pieces of advice you'll ever hear. You'll notice you'll hear it from people that are middle class. If you hear it from a rich person, they are just giving you a hypocritical answer, just to save themselves from hearing you whine from losing your money. Put all your eggs in one basket, but put it in the basket going up. You can't be lazy with your money. Watch it constantly and make sure you're making the right moves. Once the profit is gone, take them out and put them in another profitable basket. 2. Follow the Pareto principle The 80-20 rule is a great rule to apply to your daily tasks. You're going to have a process develop for trading and making money in this business, but you're going that just 20% of what you do will yield you your 80% of profit. That means all the other stuff really gets you nothing. Just stick with that small 20% that makes you a lot of money. 3. Forex Killer Software Getting software is a profitable tool for this business. The carpenter has their hammer, so the forex trader needs their software. My profits almost tripled in the first month after using this. Forex Killer is the best tool you can get to increase your profit margins and decrease the amount of time you have to watch over trades. It is definitely a smart move. For more information on the Forex Killer software, check out Forex Charting Software.
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