How To Trade Forex Like A Ninja

There are a whole load of forex tips posts floating around on the net – but to quite honest not a lot of them hold any real value. With this in mind we’ve put together our own list of tips – but with a twist – Ninja Style! We decided to pick ninjas as our inspiration because the art of being a ninja means taking any route possible to victory and success – morals and ethics shouldn’t get in the way – and when it comes to forex trading that’s exactly the attitude you need to have.

Tip #1

Develop strategy or steal one from a successful forex trader. Make sure it works based on historical data by making imaginary trades and checking them against the historical data to see if your system works or not. When it comes to forex there should be no rushing in without a plan – that way leads to death by Samurai!

Tip #2

Once you start trading make sure you always consider the current trend. The forex market is incredibly fast moving and basing your trades on past trends could easily lead you down the wrong path. After-all, ninjas always make sure they’re aware fully aware of the current situation before attempting to make their assassinations!

Tip #3

Never open a position without first considering the larger timeframe. If you usually trade on daily timeframes then check an H1 chart – if you trade on H1 charts then check an M15 chart to find the best entry and exit points. We can’t find a ninja simile here, but it’s a good tip so give us a break!

Tip #4

Always manage risks. This is what the ninja were experts in and it’s what you need to be an expert in too. Never trade with more than 5% of your deposit because once you’ve lost that deposit then it’s gone forever and you could potentially be out of the trading game very swiftly.

Tip #5

Control emotion. Now this one is truly a ninja gift – if you let your emotions start controlling the trades you make then you’ll surely come unstuck. Find a system and stick to it. If it starts losing you money then it’s time to look for a new system – but whatever you do don’t start getting angry and making rushed trades or you’ll soon find yourself in tears.

Tip #6

If in doubt – don’t make a move. Ninjas never strike until they’re sure of a kill and it should be the same in forex trading too. If the trade feels risky or if the markets are unstable then it’s best to avoid making any trades – when it comes to trading risks your fear instinct is actually a good thing.

Tip #7

Cut your losses and let your profits grow. When in a losing position a ninja would always retreat and live to fight again another day – remember we’re not Samurai here, honour doesn’t come into it. If a trade is going bad get out of it immediately – but by the same standard – when a trade is going well don’t jump out just because you’re scared – wait until you actually see a fluctuation before you stop any winning trades.

Tip #8

Never trade with capital you can’t afford to lose. Ninjas don’t take risks – they always play smart. This is the very first law of trading – while there are many superb opportunities in the forex trading industry it is extremely important to ensure you’re not gambling away your life savings or the home you live in – it’s great to be rich but it’s better to be smart – always trade with money that is purposed for trading and make sure it’s not used for anything – never ever steal cash from your household funds as this can lead to disaster.

So that’s our top tips for you all to become ninja forex traders or ninja forex brokers, if you follow our rules closely you shouldn’t go far wrong. Pick a system, stick to it and watch the opportunities open before you. And always remember – being a ninja isn’t about being honourable – it’s about winning!

I am a copywriter and poet with a bachelor’s degree in English Language and Creative Writing. I have worked in various marketing & creative roles since 2001. My aim is to publish at least one novel before I die – so far I have had 2 poems published internationally in print as well as some online. In my professional capacity I currently work for an advertising agency in London.