Thinking about how can you double your account in the Forex market? Actually, doing this will take your time because it all depends in a different factor such as the ratio of the trades, risk profile, reward in to risk and how you can manage the open and the profitable position. Generally, if everything falls out into places you are in the right track in doubled your account.
The speculative way
For an investor who needs to get their account double and faster, trading in the Forex advertise on influence and over shorter time periods brings the biggest capability of benefits. If by chance that opening an investment account or position trade is unreasonably moderate for you, yet despite everything you would prefer not to go out on a limb, the safe method for trading might be the best for you. At long last, traders who need to double their accounts would be more qualified with the speculative method for trading, which incorporates more dangerous speculative exchanges, with higher hazard per exchange and R/R ratios.
This method of doubling your account is the riskiest method. This has the highest risk of trading and rewards to risk. Other risk takers used to have this method as they are attracted in this approach. In order to see the 100% equity increase, they have to assure that all the risk management and the principle of money will be strictly followed. The image below is an example of a speculative way.
With the speculative method a risk of 2% per trade and R/R ratio of 4, trader must need more than 10 winnings in the trade for them to be double their account.
The Saving Account
This method is a simple way to participate in the Forex market. You are not required to follow the trade, charts or calculating the risk per trade. If your main purpose is to double your account by this way then you must be able to wait for a long period.
The risk traders use this method. This way is base on the reward to ratio and conservative risk, this will help you in capping the max draw down of trading account at its reasonable level, while its simultaneous trade opportunity grows on your equity. Let me show you an example, the above image will show the risk per trade and its ratio.
What approach will suit you best, thinking about the favourable circumstances and disadvantages of each? The most ideal approach to double your account relies upon the individual inclinations of every investor. A saving account that denominated in other foreign currencies conveys both yearly premium payments and the exchange rate standard increases if the currency moves to support you, however, sets aside the longest opportunity to double your account. The classic way for Forex trade without the leverage and over a more drawn out term doesn’t take much time contrasted with shorter-term trading on leverage. Just always be patient and focus.