Have you ever heard of a business management practice called “Coin Flip”? How can this trading plan help you make a lot of money in a short amount of time?
This exercise’s first goal is to show you how strong you are. One trade will be recorded at market value and another at a different price. These signs will help you choose how to run your business regularly and on time.
This practice aims to get your account balance to double while making as few trades as possible. If you stay under 50, you’ll be fine, anywhere under or around 30, which is excellent.
How to make money by practicing Forex coin toss?
You must first open a free closed 5-day tracking account in New York if you don’t already have one.
Also, open the demo account with the same rounded amount, like $ 200 or $5,000. It’s so easy to copy that you can do it repeatedly, making math much easier to understand.
When you trade, the amount you buy equals how much you sell. If you have a $500 account and want to trade, don’t start the $50,000 demo. Change this amount during the account starting process and make it a $500 demo. Then, all you have to do to win in your business is practice.
If you had a coin with a head and a tail, that would help. For this practice, we are using a 1-hour chart. This time frame is used because it is an excellent middle ground.
If the coin falls, you must pull the trigger no matter the call. You don’t have to stay in business because of that. This is where the day-to-day work of running the company and making decisions start.
You flip the coins, start your business with a plan for handling money, run your business according to your plan, and then leave.
Again, flip the coin over and do the same thing. You will do this repeatedly until you delete your demo account or make a copy of it.
This exercise aims to help you better manage your trading account so you can make better choices that will help you double your money with less currency turnover.
Bottom line
If you want to be good at flipping currencies, you can make your job 99% easier by joining the trade at the right place first. How did I put it? I’m talking about places that are important and easy to find. Before you start trading with the flip-coin method, it’s a good idea to learn how it works. After you’ve learned these lessons, you’ll go to markets full of ideas, experiences, and the fear of starting a business.
