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If you thought that poker paying couldn’t teach you much about forex trading you would be dead wrong. If you can play poker successfully you can trade and win because there is a unique mindset needed for both. Even if you don’t play poker you will learn the skills needed from this article.

Any successful poker player will tell you that to win you need to know when to bet ( when the odds are in your favour) how much to bet and when to quit, to preserve equity and the skills needed are neatly summed up in the old gamblers saying:

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Forex trading has become very popular over the last years. More and more people join this market in order to profit and perhaps even make a living from trading. However, in order to make a good profit out of this market, traders must get a trading system. Some traders develop their own systems based on their experience. Others, with less experience, are tempted to purchase systems from other traders who sell them.

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Forex trading is lucrative because you can use leverage and most brokers will allow you to leverage your deposit by 200:1, while it can make you big money it can also see you wiped out quickly.

So how do you use leverage to seek big gains, while at the same time avoiding big losses?

Let’s take a look.

Risk per Trade

Most traders simply think their risk per trade is their expected return – their stop protection but this is rubbish. This is simply a mental guess and what may look on paper like a good risk to reward trade is not.

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