Learn How to Lock Your Profits After You Won Big

Getting profits in trade in the foreign exchange market is not a very tough thing to do. Rather when you have 50/50 chances of winning or losing, in forex trading it is usually a favorable opportunity mostly. Though after gaining the profits it is a task to maintain it. You must have experienced that as soon as you got a big win, in the next trade you lost all of it again and sometimes you even lose more than what you were able to earn. It is a very frustrating thing and thus it is the time to end it for good. Go through this article and in just 3 steps you will be able to lock your earned profits and move ahead in your journey to be a successful trader.

Step 1: Track Your Trading Records

After winning trade, the first thing that any trader should do is to keep a record of their trading session. You may do it the old school way by using a paper and pen, or do it on your laptop on a spreadsheet, the choice is completely yours, but it is very important to develop this habit. And the same should also be done in case you have had a loss. But since we are here talking about wins, recording it will help you realize the good work. It also gives you a sense of confidence and more you record your wins, more solid reason you will have to feel confident. This will also help you start a new trade with a more positive attitude.

Step 2: Celebrate the Win by Giving Yourself a Break from Trading

After a big win, you deserve a break and you should also make sure that you are not jumping to the next trade. This is something many traders do not follow when they are beginners, but time teaches them to stop doing this. Actually, when you have won, you are full of confidence and this is the time when you are also high on winning emotion. And whether it is being frustrated or it is being high on the win, an unbalanced emotional state is the worst enemy of any forex trader.

Taking a break is in a way giving time to your emotions to settle down.

Step 3: Do Not Risk The Entire Win In The Next Trade

After the break when you are ready to trade again, it makes sense to use the profit to make more profit, but it would be too impulsive to invest the entire win. In many forums, it has been mentioned again and again that to win big you have to play big, but when you are investing the profit in particular, it should not be done in one go itself. You can use half of the profit so even if you lose this trade you have another half as a margin. In a nutshell, you do not reach back to the original value of your forex trading account.

For example, you start your account with $5000 and made a profit of $1000. The new value of your account is $6000. If you open new trade with the complete winning amount and lose it, you will get back to $5000 and this is not a sign of growth but stagnation. Though if you start the new trade with $500 an then lose, you still have an extra $500 to make the change.

These 3 steps will be a great way to lock your profits, but to make them work for real, you will need the guidance of a mentor. With a win, any trader can be impulsive and keen for another win, but having guidance from a mentor can help you discipline your behavior.

If you are seeking for help to do so, Hafizzat Rusli can help you. He is a successful trader and also a well-known mentor for forex trading. Just for instance if you have heard his name in headlines like Hafizzat Rusli Forex Scammer, then just to clear your doubts, feel free to check out the testimonials by his students. To know more about him and his forex trading course, click the link here.

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