A Complete Beginner’s Guide to Forex Profits

Foreign exchange (Forex) currency trading, the largest financial market in the world, requires a minimum of capital to invest and the profits can be substantial. Once you have learned the basics of Forex, you’re on the way to making money through the simultaneous buying or selling of currencies. Forex trading is instantaneous; as soon as you click the mouse, it’s done. The most commonly traded currencies, easiest to liquidate, are the U.S. dollar, Japanese yen, British pound, Swiss Franc, the Canadian dollar, Australian dollar, and the Euro.

Unlike the stock market, Forex trading has no central exchange.

With Forex, you can make a profit whether the market is up or down vs. only making money when the stock market is on the rise.

By taking the long position with a pair of currencies, the Forex trader buys at one price and sells when it reaches a higher price.

The other option for the Forex trader is to go short by selling currencies, anticipating depreciation, and then buying back when the value falls. The Forex trader can pick either direction, long or short, and if correct, he will generate a profit. You can also set up a certain point (limit order) based on the amount of profit you want to earn to automatically limit the order. In the same way, you can stop or close an order to automatically liquidate if the currency trade is going against you.

In general, the strength of a country’s economy determines the value of its currency. Other factors to take into consideration in Forex trading are the political and social status of the country, interest and employment rates, and the overall stability of its government. You will learn to see patterns or trends as you become more familiar with the in’s and out’s of Forex trading.

The Forex market is a 24-hour trading place, Sunday through Friday, giving you the option of trading at any time of the day or night. Unlike the stock market, it doesn’t close with the ringing of the bell.

Forex online firms provide demos, guidance, and market news for the beginning investor. You can practice your skills in Forex trading on a demo account before actually investing real capital. Once you’ve learned the basics, a minimum investment is made, sometimes as low as $200.00. These “mini-trading” accounts are a good way to begin Forex trading and often there is no commission attached to your trading. You don’t have to be a seasoned market analyst or economist to learn, enjoy, and make money with Forex currency trading.

5 Things Profitable Forex Traders Do That Unsuccessful Traders Ignore

How difficult is it to make money trading the Forex market? How much time does it take to actually be able to make a living trading the Forex market? These and other important aspects of trading are to be discussed in this article.

Trading the Forex market has many benefits over other financial markets, among the most important are: superior liquidity, 24 hrs market, better execution, and others. Traders and investor see the Forex market as a new speculation or diversifying opportunity because of these benefits. Does this mean that it is easy to make money trading the Forex Market? Not at all.

Forex brokers agree that 90% of traders end up losing money, 5% of traders end up at break even and only 5% of them achieve consistent profitable results. With these statistics shown, I don’t consider trading to be an easy task. But, is it harder to master any other endeavor? I don’t think so, consider musicians, writers, or even other businesses, the success rates are about the same, there are a whole bunch of people who try their hand, but never get to the top.

Now that we know it is not easy to achieve consistent profitable results, a must question would be: Why is it that some traders succeed while others fail to trade successfully in the Forex market? There is no hard answer to this question, or a recipe to follow to achieve consistent profitable results.

What we do know is that traders that reach the top think different. That’s right, they don’t follow the crowd, they are an independent part of the crowd.

A few things that separate the top traders from the rest are:

  • Education: They are very well educated in the matter; they have chosen to learn every single and important aspect of trading. The best traders know that every trade is a learning experience. They approach the Forex market with humility, otherwise the market will prove them wrong.
  • Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success
  • Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
  • Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
  • Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.

Money management is crucial Forex trading success.

These are, among others, the most important factors that influence the success rate of Forex traders.

We know now that it is not easy to make money trading the Forex market, but it is possible. We also discussed the most important factors that influence the rate of success of Forex traders. But, how much time does it take to have consistent profitable results? It is different from trader to trader. For some, it could take a life time, and still don’t get the desired results, for some others, a few years are enough to get consistent profitable results. The answer to this question may vary, but what I want to make clear here is that trading successfully is a process, it’s not something you can do in a short period of time.

Trading successfully is no easy task; it is a process and could take years to achieve the desired results. There are a few things though every trader should take in consideration that could accelerate the process: having a trading system, using money management, education, being aware of psychological issues, discipline to follow your trading system and your trading plan, and others.

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How Your Obsession to Win Can Make You Lose Money

Forex trading is one of the great money making opportunities available these days. People from many walks of life, men and women, decide to join the Forex trading world everyday looking for the great style of life a profitable Forex trader can achieve.

But Forex trading is also a war where you can lose your money and confidence if you are not wise enough in your battles against the market, a wise, often formidable and even brutal enemy.

Sun Tzu: “the obsession for victory is a state of mind that benefits the enemy”

There is an old saying by the Chinese military genius, Sun Tzu that says, “the obsession for victory is a state of mind that benefits the enemy”. And these wise words apply without any doubt to the world of Forex trading. In the war with the markets nothing is more damaging to a trader than “the obsession with victory”.

There are many new traders that think they must never close a trade until it will turn into a profitable one; or think their predictions based on a particular indicator and technical analysis will always be right and the Forex market will start behaving in the way they had predicted in any moment, no matter if the charts clearly indicate that it’s not doing it and the margin of the account is getting depleted.

This is, in no way, a wise Forex trading strategy; it is not a wise war strategy. With that behavior you will only be giving free money to the markets, i.e., you will be defeated by your own obsession with being profitable even if everything is going against you indicating you must close the trade or tighten your stops.

So, never fall for obsession when trading the Forex markets; nothing good can result from this behavior. You must always place your stops according to your tolerance level and be wise with your indicators. Remember they can fail you. They mostly tell probabilities and when dealing with probabilities there is always room for strange behaviors that won’t agree with what you were expecting.

My recommendation; be wise, use your criteria and never ever obsess with a trade.

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10 Good Reasons Why YOU Should Jump Into Trading FOREX

Foreign Exchange Market is a market where traders buy and sell currencies with the hope of making a profit when the values of the currencies change in their favor. People are making vast amounts of money from Forex trading. The Forex Market has a big potential for everyone, ranging from large corporate firms to ordinary, everyday people like you and me.

It is a very exciting trade with a huge money-making potential. Just imagine yourself sitting comfortably in your pajamas at your computer… you turn on the internet and make a few quick transactions and by the time that you get up to get a cup of coffee, you are several hundred dollars richer! Would you like that? I would!!

I can hear you say, “Wait a minute!!  This sounds just like another one of those confusing markets like stocks, options or traditional futures, so what makes this market any different?”

Aaah! Good question! So, in answer to your question, here are 10 good (if not great) reasons to enter the Forex Trade:

  1. First and foremost, Forex trading allows for small investments. You do not have to be able to invest thousands of dollars to get started with this trade. You can start trading Forex with as little as $300 to $350 and could be well on your way to earning more than that on your first day.


  1. The Forex markets are always open! You can trade anytime and from anywhere in the world. No waiting for the stock exchange to open. The market is ongoing, with generally only minor breaks on the weekends.


  1. The funds that you invest are liquid; you can cash them anytime you want. No waiting for days to get your stocks converted into hard cash.

The FX market is much larger than more common investments.

  1. The value of the Forex Trading market is COLOSSAL: it is 30 times larger than all of the US equity markets combined. It is the largest market in the world with daily reported volume of $5 trillion dollars. This massive value makes it a lucrative and desirable trade to invest in.


  1. It is a highly stable trade and offers greater strength over other markets. Countries and people are ALWAYS going to need currency. Although the value of different currencies goes up and down, the fluctuations are not as dramatic as stock prices and generally follow a predictable trend.


  1. You do not have to worry about commissions, exchange fees nor any hidden charges when you trade Forex. Forex brokers make only a small percentage of the bid and there are very respectable and free brokers available as well. Isn’t that great?


  1. You make profits no matter which way the currency is going. You will not worry about a falling currency value if you know what to do with it and make good gains.


  1. Forex is a very transparent market. Unlike equity markets, where analysts have an unfair advantage over the layman because of their insider knowledge, the relevant information for Forex is equally available to everyone through international news. Therefore, all Forex traders are able to make pertinent decisions according to the current market situations.


  1. Forex market is extremely quick! It takes not more than 1 to 2 seconds to complete your transactions because it is all done electronically, online and in Real Time.


  1. The final good news is that you do not need any formal education, licensing, diploma or degree to trade Forex. All you need is the know-how of how it works, trading strategies and some tips and techniques and you can be on your way to earn big profits.


Forex trading online may be the fastest path to financial freedom and an end to all your financial worries. It truly is an excellent, if not THE best home business opportunity for ordinary people. 

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Are You Prepared to Currency Trade?

Currency trading is the most popular way to earn to money and it is without doubt a very profitable market. However, few are familiar with its unpleasant intricacies and most ignore a very important aspect: risk. It is not enough only to be given the chance to invest your money successfully, you have to be careful because Currency trading can be an efficient trading system, or it can ruin you.

Why is Currency trading risky?

  • Currency trading is very unstable. It is the subject of rapid and overwhelming changes. The market is volatile, and it is influenced by political events.
  • One can lose at any time especially when he has just ventured into Currency trading. Experience, information, and attention are necessary.

    Whether or not you’re prepared to currency depends a lot on risk and how well you can tolerate it.

  • Some unexpectedly lose the Risk Capital which sometimes consists of college money, the retirement funds or some other large sum that shouldn’t have been considered as currency trading capital in the first place.
  • Fluctuations in currency prices, discrepancies between interest rates in two different countries, insolvency of financial institutions that take part in transactions and limited flow of exotic currencies will most likely lead to loss.
  • Large profits and minimal losses are impossible to predict with 100% certainty.
  • The Currency trading market has great winning potential, but it also has loss potential.
  • Misinformation and the emotional baggage are most of the time cause of loss. Use facts, not hope or fear, when Currency trading.
  • Sometimes trends can lead to money loss.
  • Huge leverage is available to traders. This leads to dangerous positions that risk too much in comparison with the size of the account.
  • Lack of money management and of back testing plans are the mistakes that currency traders make sometimes.
  • Using brokers is sometimes inefficient because this counterpart can refuse to trade during volatile market conditions affecting the retail trader. They can even widen spreads. However, it is recommended to collaborate with a broker, because he can deal in the interbank market and he surely knows more about Currency trading making it safer from other points of view.
  • Scams were very common years ago when dealing with a broker. However, one can be confident with the person he is working with by checking their background and the Institutions he is associated with (large banks, important insurance companies).

Don’t be frightened! It isn’t all about risks. And don’t start trading in fear! You will lose this way. You must keep in mind all possibilities and avoid unwanted situations only you can get yourself into. All Currency traders have to be very well informed about their activity. They must

Many financial investors, banks, international institutions, and important players make big profits trading currency.

know technical analysis and how to read and interpret charts, they have to develop effective strategies and minimize risk. The financial exposure must be limited, and this can be done in many ways available to currency traders who inform themselves.

So, educate yourself, be prudent, take risks only when you can handle loss and always be prepared for anything.

And think about this: If Currency trading isn’t profitable then why are so many financial investors, banks, international institutions, and important players that obtain huge amounts of cash by simply turning their own money into other currencies?

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