Have you ever heard of the “Coin Flip” business management exercise? How can this trading strategy help you make huge money in less time?
First, this exercise shows you strength; with one trade recorded at market value and another, understand the price action’s story. These are indicators so that you can make many business management decisions on a regular and timely basis.
The reason entrepreneurs often fail because the door to success is open for them to get through; they have to stop stepping on their own two feet and even go out to make it.
This exercise aims to double your account balance with as few trades as possible. If you can make it under 50, you’re good. Everywhere below or around 30, and that’s great.
How to make money by practicing forex coin toss?
If you do not already have one, you must first open a free closed 5-day charting account in New York.
Another thing is to make sure you open this demo account with the same rounded amount as $ 200 or $ 5,000. It is that simple that you can easily duplicate, and it makes maths much more accessible and an amount equal to how much you sell when you trade.
If you are trading with a $ 500 account, do not open the $ 50,000 demo. Instead, change this amount in the account opening process and turn it into a $ 500 demo, so all you have to do in your business practice is a practice to win.
It would help if you got a coin with a head and a tail. We are on a 1-hour chart for this exercise. We use this time frame because it is a happy medium.
If the coin lands, you must press the trigger in any way, no matter what call comes. That doesn’t mean you have to stay in business. This is where the practice and overall management of the company and your decision-making begins.
You turn the coins, enter your business with a money management plan, manage your business according to your plan, and leave. Then, turn the coin over again and repeat the procedure. You will do this again and again until you cancel or duplicate your demo account.
This exercise aims to work on trading management to make better decisions that will double your account with less currency turnover.
Final thoughts
The basic truth is that if you want to manage your flip currency trading well, you can make your job 99% easier by first entering the trade in the best / correct place. What did I say? I am talking about valuable and visible places. Learn some basics of flip coin strategy before you step into trading with this technique. After learning these lessons, you will come to markets full of ideas, experiences, and the fear of starting a business.
