Who made good money on forex

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who made good money on forex

Forex brokers often don't charge a commission, but rather increase the spread between the bid and ask, thus making it more difficult to day trade profitably. You buy a large amount of foreign currency in forex trading, just like you would buy a stock. With the potential to increase your initial. Forex trading may be profitable for hedge funds or unusually skilled currency traders, but for average retail traders, forex trading can lead to huge. AUTO DDSMM FOREXDECODER Make sure The NFL known as to only planned for so, you. Viewer for an office attachment history explained in. This error Google Slides recorder for can be to take and with conferencing to.

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This enables you to trade larger volumes of currencies to make more profit. However, it can cause you to lose money faster and easier. But keep in mind that if the market would go against you, and Euro would go down against USD instead of going up, then your loss would be much bigger also. So leverage is not always your friend. It can be your enemy too.

A leverage is enough for a retail Forex trader whose account is not too big. However, never go for a or larger leverages. However, there is a big question here:. The answer of these questions tells you how Forex traders make money. They can make money only when they can predict the direction of the markets correctly, otherwise they will lose. This is something that you learned from the example above. Therefore, it is important to know how Forex traders analyze the markets and decide which currency has to be sold against other currencies.

Here is where currency trading becomes fun and challenging at the same time. It is where you must learn how to manage and limit your risks. It is where many Forex traders make a fortune and so many others give up on Forex trading after losing lots of time and money.

So please make sure to read the rest of this article more carefully. To make money through Forex, you must know how to analyze the currency markets to predict their next directions. There are two ways to do this:. Many traders analyze these charts to predict the next direction of the markets. They use some rules and techniques to understand when to buy or sell. I wish I could explain how to analyze the price charts here in this article, but it is impossible to do so.

It needs several articles and videos to do it. However, this site is full of useful and detailed articles on this topic. I will write more articles too. So please make sure to add your email address to our mailing list through the form above, so that I let you know whenever there is a new article published on the site. Technical analysis is not too complicated. But you need to spend some time to learn and master it.

What I use a lot is the candlestick price chart. Candlesticks are small units the return some important information about the price fluctuations. This is a sample of a candlestick price chart:. Some traders prefer to use the economic factors, also known as fundamentals or economic news, to predict the next direction of the markets and take proper positions. There are tens of different fundamentals that each of them have a different impact on different currencies.

Each country has its own fundamentals that impact their currency. For example, interest rate is the strongest economic factor that directly impacts the value of the related currency. When they announce it, the USD value will suddenly go up and will also keep on going up, in long-term and during the next several months or maybe even years. When people, investors and big players of the market become aware of this, they buy USD to deposit it in their banks accounts to receive the interest.

And, like any other commodity, when a currency gets bought more than others, its value will go higher because currency market also moves based on supply and demand. When there is more demand for a currency, its value goes higher against other currencies, and visa versa. There are so many other economic factors that move the markets. For example, employment and unemployment related news are also very strong, but not as strong as interest rate.

Economic factor are very important for professional traders and also big players of the currency market, like banks and hedge fund companies. While they use technical analysis, they closely follow the economic factors to make sure that they make the right and proper positions. Many retail traders also do the same. Here in this article, I am just explaining what Forex is and how Forex traders make money. This is just a general article for those who are new to Forex trading and want to learn it from the basics.

I cannot go to details of each related topic. However, if you follow me on this site, you will learn each part in detail too. First of all, you must decide whether you want to become a technical trader who uses technical analysis, or you want to become a fundamental trader who uses economic factors to trade.

You can use both at the same time as well. The number of retail Forex traders who use technical analysis is more because you can locate more trading opportunities on the price charts, compared to following the economic factors. The method that you use to find or locate the trading opportunities is called trading strategy or trading system. Different Forex traders have different trading strategies to make money. For example, I use technical analysis also known as chart analysis and I am more interested in candlestick signals and patterns, while I also use price chart patterns and support and resistance breakouts.

You will learn all of them. Demo trading is one of the best things we have in Forex trading. It allows you to trade with demo money to improve your skills and gain experience. In demo trading, you also win and lose, but it is just with demo money, not real money. So there is no risk to do demo trading. However, you must consider it as a real money and have the same discipline as if you are risking your hard-earned money, otherwise you cannot develop skills and discipline you need to trade with real money.

After choosing your trading strategy, you must demo trade to become a consistently profitable demo trader who makes profit with their demo accounts, every month, consistently, and at least for six months or even one year in a row. Then you can open a small live also known as real account to keep practicing for another months to make sure that you have become disciplined, skilled and experienced enough to use your trading strategy to trade with real money.

Then you can gradually increase your trading capital. Sometimes, I lose what I gained last month. Justin is the only Coach in this industry I have ever seen, who teaches you 2 most inevitable things: 1. The art of Trading, how to trade on your own and 2. Love your money, minimizing losses will ultimately increase your account. Thanks for this post, Justin. Given the way you emphasize this Trading Process in many of your posts, could you expatiate it.

For those of us who want to follow it, What is a Trading Process? Look at all articles on this site. It just might turn your trading around. Very instructive! I assimilated every bit of it. Thanks also for your daily trading signals. Thanks alot Justin for your knowledge. Damn I must be a god then XD Yay every one is godawful but me. The excitement of binary options trade can disappear as soon as you learn what is expected of you.

You have to learn trading strategies, decide what assets to trade on and which broker to use. It is a lot of work but when you start making money, you will forget about the struggle. If you decide to trade in Forex. I am a victim of a binary scam I was burned by a bogus broker recently it was difficult to get a withdrawal. I had to hire a recovery company to get my funds back.

Is it possible to identify a false breakout and how to know if a breakout will retest before going in that direction.. Hello Justin. They have been around for 3 years and they have been paying out consistently.

They have not yet been regulated because there is no regulation for forex in my country yet. However, this broker has had press conferences and invited regulatory authorities openly to regulate the forex market so as to give investors confidence. So they are not like a hidden business. They have branches in about ten states in my country. I would like your thoughts. Too late for me now. Now the CEO said he made a huge loss so he was unable to pay back our capital and he is no where to be found right now.

They have a binary option and too hard and aggressive marketing plan. I would like to understand Forex Trading before i can invest money? How can one identify authentic broker or person to assist on trading? Finally got my refund and im glad to share her contact information to save others. Dm if your interested to make profits. I am about to start forex trading but I am trying to gather as much information as I can before I do.

Everything you said makes so much sense, the person that introduced me to Forex has not explained things the way you did and I would love to get as much info from you as possible please. Thanks Justin for the way you have explained forex earning. Because profit is the reason why anyone can think of doing business Once again thank you.

A book, a school? Is there any formal classes that teach this that are legit? What book do you recommend? Many people think that you require a massive amount to trade forex and enhance profit. If you somehow manage to create and apply a successful trading strategy, then your first dollar forex trading account could change your entire life.

Forex also known for Foreign exchange which is the largest financial markets globally. There are millions of people who have benefitted through trading forex. Buying and selling foreign currency means speculate the upward and downward value developments of a currency pair, with the expectations to make a profit.

The foreign exchange market is the largest volume market where there is a strong network of traders. It is a decentralized market. The large players in the foreign exchange market include central banks, commercial companies, hedge funds and investment banks. Hello everyone, Are you looking for a professional trader, forex and binary manager who will help you trade and manager your account with good and massive amount of profit in return. Yet i unable to make withdrawals and all attempt to contact broker proved futile.

This is very pathetic and i felt so bad losing my investment. I did a due diligence test before investing with them but guess what I ended up getting burned. This is to create awareness, not everybody can be as lucky as I was. Thanks to this recovery team, they have the best wealth recovery experts…Contact their mail for more inquiries cryptorefunder at gmail dot com. So far, I have lost a total of about 1, euros. Wherever I was thinking, no one would do anything but trade currencies So I switched to savings.

Hi there, it means now you have more than times of your first capital. My only question is, why we losers are important to you? Is it possible to trade Forex for a living? How much money can you make trading Forex?

What is the best way to make money with Forex? Justin Bennett says It applies to every trader. Alanso says I have a really good and reliable trading Strategie, and I made Jeor Mormont says The point is, there is not fixed return in a month. Khaing Khant says I have nothing to say..

It is too useful for me.. Thz u sir. Frank says This is Quite an information. Justin Bennett says Hi Frank, I might write about this one. Oso James says I am an employee, how can I start the process of trading. Donald says What u are saying it is true bcuz since I have been in trading industry I have never make consistent profit buzzy over trading i read everything that u are posting i like to say thank Reply.

Darius says I do not get people how you believe about those big profits. Ade says Many of these prey on newbies who come to the forex market and do not know how difficult it really is to make money. Justin Bennett says Thanks for the question. See my response to Frank above. Chekwe says You have said it all.

This is an eye opener to me. Thanks a million times. Chucks says You stated the obvious rules that govern fx market. Justin Bennett says This entire website is a collection of my opinions on various topics. Ibrahim Alexander says Sir you confuse me. Rickwin Marakim says Thank you for the excellent advice and suggestions.

Really appreciate it. Wallingnuma says Hi Justin Once again you nailed it. Agung LA Fx says I am agree. Trading is a process Reply. Ruben Reply. Comfort Oby Nwosu says I started trading forex October Vik says Reach out I could assist Reply. Daniel says Comfort, take it easy. Kevin says Can anyone make a living trading the markets.

Thanks Justin Reply. Habib says Thanks a lot. HilmiiShukrii says I love your blogpost. Yusuf Ahmad says The post is very enlightening, I like that. Nothing to add. Thanks Reply. Thanks to all. Endy Michael says Thanks for this post, Justin. Georgi says This is probably the first question I asked myself. This article was useful to me. Uche says Very instructive! Sboniso says Hi guys which forex broker do you recommend? Haitham says Haitham Reply. Signe J. Petersen says The first and most important broker selection factor one should consider is regulation.

Petersen says The excitement of binary options trade can disappear as soon as you learn what is expected of you. If you decide to trade in Forex Reply. Israel says Is it possible to identify a false breakout and how to know if a breakout will retest before going in that direction.. Byone says helpful Reply. Samuel says You often mention best set ups. What do you mean by that amd examples Reply. Fran says Hello Justin. Is this logical? Peters says I found this analysis very useful.

Please I need more of your articles. How do I get it? COM Reply. Dm if your interested to make profits Reply. Making it from forex depends on your skill, never get confused by write up like the one above. Steve says ,I never imagine myself loosing a dime to any trading firm but I lost huge amount of money to this company. Alexandria Ferguson says I am about to start forex trading but I am trying to gather as much information as I can before I do.

Smart Collins says Thanks Justin for the way you have explained forex earning. Because profit is the reason why anyone can think of doing business Once again thank you Reply. George Papazov says Nice… a complete guideline for forex trading. This will fruitful to the forex traders.

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