Everyone, who comes to the Forex market, almost immediately asks this question to yourself first, and then chatting it on forums or with technical support. Let’s begin with explanation that the profession of trader is practically no different from the others. You should be a professional, as in any other profession. If so, then you earn. If not - you lose. Do not expect that you will consistently earn on Forex during the first months. Such expectations are not realistic. You must understand that a lot of effort and time you have to...
It is much known that a lot of forex traders especially beginners are losing money and are failing. In fact, it is estimated that around 95% of forex traders are losing money and end up quitting. The reasons for this high percentage of forex traders who fail are also much known to most of the traders: starting with low capital, trading without a strategy and trading plan, trying to make a lot of quick money, trading without risk management etc. Forex traders who are trading with small accounts and try to make a lot of easy money without any...
First New Year’s week was noted by the publication of data on the Chinese PMI. This event caused the increased volatility of the Forex market by the end of the week. The data was quite weak and this factor forced some traders to replace their “landmarks” in favor of the Japanese yen. Chinese PMI totaled 51 points, while the projected figures were about 51.2 points. Also, this event was related to rebound of USD/ JPY from already formed at the end of last year long-term maximum. The British pound also came under pressure...
There are plenty of articles online which talk about the positive aspects of forex trading and things to do in order to become a better trader. Those who succeed as traders will be able to enjoy plenty of great benefits which make the hard work required to achieve consistent profitability well worth it. Trading successfully means working on your trading skills every single day and seeking to improve your trading strategy, entry level, exit levels and risk management. Very few talk about what one trader should do after faced with a trading...
Whether you're a seasoned trader or new to the Forex market, the myths about Forex trading are always swirling around you. These myths can potentially affect anyone, no matter how long they have been trading. By knowing some of the major myths, traders can avoid unnecessary frustrations. While there are potentially many trading myths, we'll look at 10 that come up often and affect every stage of development – from why people get involved in Forex to developing strategies. Get rich quick Advertising has rapidly expanded the...
