How can I effectively increase my trading profit by another 10%?

Develop professional knowledge:

In-depth study of the foreign exchange market, understanding the economic and political conditions of different national currencies, mastering techniques and basic analytical tools. This will help you make more informed trading decisions.

Develop a trading strategy:

Establish a clear trading plan and stick to it. This includes determining entry and exit points, risk management and profit targets. Following a consistent strategy can reduce impulsive trading and emotion-driven decision-making.

Use stop-loss orders:

A stop-loss order is one in which a specific price point is set in a trade in order to automatically stop a loss if the market moves unfavorably. This helps protect your funds from major losses and helps you maintain discipline.

Diversified portfolio:

Don't put all your money into a single currency pair or trade. By diversifying your investments across different currency pairs and markets, you can reduce risk and increase potential profits.

Control risks:

Set a reasonable risk management strategy to ensure that the risk of each transaction is controlled within an acceptable range. Use appropriate position sizes to avoid excessive leverage and risk-taking.

Track and evaluate transactions:

Record the details of each trade, including entry point, exit point, profit and loss. Regularly review and evaluate your trading performance to identify weaknesses and make improvements.

Follow market trends:

Observe and follow the overall trend of the market, rather than excessively pursuing short-term fluctuations. This helps improve trading accuracy and profit potential.

Manage your emotions:

Avoid impulsive trading and emotion-driven decisions. Stay calm and rational, undisturbed by the mood swings of the market.

Please note that Forex trading involves risk and cannot guarantee any fixed rate of return. The above advice is designed to increase the probability of successful trading, but it is still necessary to exercise caution and make decisions based on individual circumstances. In addition, it is also important to choose a regular dealer, and it is best to check in the forex eye before choosing a foreign exchange transaction.