Merry Christmas! I hope everyone gets to spend this special day with friends and family that they love. My Christmas present for you is an important tip that will help you increase your profit and help you afford more Christmas presents for next year: I see many people trying to pick tops and bottoms in the market. They feel bad if they leave a little bit of money on the table. The truth is that you cannot pick tips or bottoms. You can however lose a lot of money trying to pick them. The best approach is to take a portion out of the middle.
Find some indicators that give you signals when the market is starting to move. When it does move, get in and then add on to your position as the trend gets underway.
I think it is best to start out small with (one lot) and a stop loss. Once the market tells you that it is really moving then add on to your position. Once the market tells you that the trend is over close all of your positions at one time when the trend has ended. Exercising a little patience and waiting for a proven direction to take, can increase your odds of profiting and somewhat reduce your risk.
Once you are out of the trade then start looking for another entry point. There is always another trade just around the corner in either the same pair or another currency pair.