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  • Can you become a millionaire by trading forex?

    Can you become a millionaire by trading forex?

    (Updated October 2021)

    3 min read

    Can you become a millionaire by trading forex?

    Can you become a millionaire through forex trading? Do you know someone who has never dreamed of being a millionaire?

    Everyone can see the lives of celebrities and millionaires every single day. Who wouldn’t like the same lifestyle, expensive cars, luxurious houses, swimming pools, parties…

    All that desires, all that false matters, false emotions, come from media advertising and TV.

    OK, not everything is false. But that causes the other question: can I be a millionaire trading forex?

    Yes, you can become a millionaire trading forex.

     

    calculator>> Check out this Become A Millionaire Calculator 

    But you have to know it is not easy like you see on the internet advertising and TV.

    It depends on how much money you start trading.

    If you start with $5,000 and make 10% of your capital each month, yes, you will be a millionaire after 5 or 6 years. Just 10% of your capital each month can make you a millionaire.

    And if you start with $100K you will be in 2 years. You can’t do that in any other industry.

    Tell me, where you can start at $5K and become a millionaire in a few years.

    But remember, if your dream is to become indecent rich in a week or a month, forget about the forex. Go far away from forex.

    Because you will lose all your money, your car, your house and in the end, your family.

    This reality is hidden from you.

    Yeah, I know, every broker will tell you tales about doubling your money overnight.

    Hm!

    True is that they prefer you to lose your money. As soon as possible!

    Contrary, if you follow the correct way for a few years they will not see any considerable profit from you. Over the route of several years, you will be the one taking the true profits!

    And they don’t like that. This is not in their best interest because 90% of brokers are just market makers and have no relation with the market and banks.

    They create a virtual market for you and from time to time let you trade and they make money when you lose.

    And they lose when you have winning trades.

    Their interest is to make you lose as soon as possible, then they try to motivate you to add more funds to your account and lose your funds more and more.
    Can you become a millionaire by trading forex? 1
    If you really want to be a millionaire in the forex market forget about making money on the easy and fast way. Such thing like cold cash in the forex market does not exist. You will need time to learn how to trade forex. To learn how to develop a strategy with more than 60% probability to win. You will have to learn about money management. Actually, you should start trading on a demo account.

    Trading is art.

    People trade to make money in forex but forex trading is not like making money.

    You must understand the way of making money with the positions you are opening and the reasons behind it.

    That’s why you have to be patient!

    Trade for 2 or 3 months on a demo account. If you make success on a demo account, you can open a real account and start real trading.

    But, if you don’t have success on a demo account then something is not right. Perhaps your strategy doesn’t respect money management rules. Or something else you are doing wrong.

    After you see the mistake you can correct it and after that restart trading on a demo account until you get recurring success.
    Can you become a millionaire by trading forex? 2
    It is right to say that the Forex market is only for risk takers. It can’t be a permanent source of income but it can be a decent source of income. But only if you get the right guidance through the right adviser or build up your own knowledge to start trading with high precision.

    If you are new to trading you can start with the small investment.  And you have to keep revising your risk on the higher side to earn more.

    This can be the right approach. But the most important is that you should have the right guidance from the best signal provider.

    For everyone who asks: Can I become a millionaire through forex trading, there are two answers:


    Yes, you can

    and

    No, you can’t.

    Anything is possible in this world.

    However, you will be faced with some challenges like finding a good broker that doesn’t cheat on you. Maybe this is the biggest one.

    Forex brokers don’t let you grow your account systematically, because your profit is their loss.

    And we spoke about this:

    Forex is not a get-rich-quick scheme.

    Currency trading is not an easy way of making money. It is the same with the stock trading and all the other kinds of trading and investments.

    You have to pass some important stages before you become a millionaire.

    There are two things that you have to do to become a millionaire forex trader.

    First, you have to learn and master the trading skills. And you have to have a suitable amount of capital to invest in the forex market.

    No one has never seen one single retail forex trader who has become able to become a millionaire through growing a small account.

    There is no profitable currency trader who trades through the retail forex brokers.

    You have to have enough capital to trade currencies through a bank account. And your capital has to be suitable enough.

    You have to know that.

    Of course, if you don’t believe this you can spend time and money on retail forex trading.

    Unfortunately, it is not possible to start making money right after learning the forex trading basics and a trading strategy.

    To become a pro: PRACTICE to master your trading skills & risk management analytical skills using a free demo account for traders

    You have to consider something at first.

    It is smart to have a source of income that supports your currency investment. You must have some revenue, that covers your expenses and gives you free time to sit at the computer and learn how to trade.

    The lie is that you can make any money through forex trading and any other kinds of trading when you have financial problems.

    If you think that you can learn to make money through forex trading within a short time, and become a forex trader who makes millions of dollars, I have to tell you it is not possible at all.

    You can find so many false forex millionaires stories over the internet.

    Don’t let them deceive you.

    If you want to become a millionaire, first you need a good source of income that makes a decent amount of money that not only covers your expenses. But also leaves some money for your trading and investments.

    Only then you can start learning how to trade.

    You have to learn and practice until you become a profitable trader.

    There are two ways to do that.

    One way is harder. You have to follow too many trading strategies, robots, and time-frames, and sit at the computer for several hours per day.

    This way will hardly take you to your destination.

    The simpler and easier way is learning the Forex trading basics.

    And then a simple and strong trading strategy.

    You have to learn your trading strategy through demo trading. When you achieve success and make profit consistently for 6 consecutive months at least, you are ready to open a small live account and start practicing with it.

    If you make a profit for 6 consecutive months with your live account, all you have to do is that you keep on trading with your live account to grow it.

    3 of the most common patterns in Forex trading –  Head & Shoulders pattern, Pin bar and Double Top / Bottom

    How to use Head & Shoulders pattern:

    Head & Shoulders pattern is an easy way to develop trading skills.
    The first thing you must know is that Head and Shoulders is a reversal pattern. Meaning, when it’s uptrend, the price goes up, doing its shoulders and head patterns and then reverse for a downtrend.

    Those are somehow easy to locate when using this image to see what we should look for in an actual chart.

    In the image below, you can how it looks on a real EUR/USD chart:

    How to use Pin bar pattern:

    One of the most important candlestick patterns you should pay close attention to.
    If a pin bar appears it means that there is a very high probability that trend may reverse or pullback. The pin bar is often called “Pinocchio” bar, and it looks like this:

     

    How to use Double Top / Bottom pattern:

    Often, if you see a double top like in the following image, it can mean there’s a downtrend on the way.

    Forex trading is an investment opportunity.

    It isn’t a full-time job. You should already have an income to become able to invest in the currency market.

    Turning a small $5,000 account into a million dollar account is possible theoretically.

    It is theoretically possible to turn $5,000 account into a million dollars.  But if you want to become a millionaire forex trader you have to have a good backup.

    When you become a profitable forex trader, you’ll have enough money to open a professional live forex trading account to trade professionally and earn real wealth.

    For example, 1000pip Builder’s automatic trading system aims to target 350pips per month. Usually that should be enough, especially for the new Forex traders.

    As you can see, it requires both time and money, commitment and persistence, but ultimately it pays off.

    Or you know a different story?

     

  • How Much Money You Can Make In Forex Trading?

    How Much Money You Can Make In Forex Trading?

    3 min read

    How Much Money You Can Make In Forex Trading?

    Are you tired of being scammed, fake script?

    Do you wanna earn?

    But you want secret strategy 100% working, real and very legit.
    Yeah!

    How much money you can make?

    Can you become a millionaire through Forex trading?

    Well, the answer is YES and NO.

    I am not saying that it is impossible to make millions with Forex. It is.

    But if you want to turn a $500 or even a $5000 account into millions, then I have to tell you that you will have a hard task.

    Yes, I know. You’ve heard of traders making millions in the financial markets.

    But it is not good to compare yourself with them.

    Why is that?

    Because you’ve got different account size, risk affinity, risk management, trading strategy, and etc.

    So is it possible to get rich trading forex? Absolutely!

    How Much Money You Can Make In Forex Trading? 1
    But you need to keep some things in mind before you try it. Many people want to get rich trading forex and there is no doubt it offers the potential to do so but most fail. Forex trading is risky we know that already but with risk goes reward. If I want to explain how much money can you make from forex trading I have to do it with objective measures.

    Just statistics, numbers, and the cold hard truth.

    Are you ready?

    In your trading the most important thing is metric. If you only win 20% of the time and you can have a 1 to 2 risk to reward on your trades, you will be a consistent loser.

    It is obviously your risk to reward isn’t the answer. What else can be? Your win rate maybe?

    Let’s see.  

    You have a 90% win rate but if you lose $0.95 for every dollar you risk, you will also be a constant loser.

    So, where is the catch?

    Your risk to reward and win rate is meaningless on its own. You must combine both your win rate and risk to reward to establish your profitability in the long run.

    This is known as your expectancy. That will give you an expected return on every dollar you risk.

    Mathematically it can be expressed as:

    E= [1+ (W/L)] x P – 1
    NOTE:
    W means the size of your average wins
    L means the size of your average loss
    P means winning rate

    You have made 10 trades, 6 were winning and 4 were losing trades. That leads you to your percentage win ratio is 6/10 or 60%.

    If your six trades brought you a profit of $6,000, then your average win is $6,000/6 = $1,000. If your losses were $3,200, then your average loss is $3,200/4 = $600.

    Apply these to the expectancy formula:

    E= [1+ (1 000/800)] x 0.6 – 1 = 0.35 or 35%.

    This means, the expectancy of your trading strategy is 35% and your trading strategy will return 35 cents for every dollar traded over the long term.

    On the other hand, most of the casinos work 24 hours a day, 365 days a year. 

    The reason is the more they play, the more they make. And it’s the same for trading. You must PLAY more to WIN more.

    The frequency of your trades matter.

    However, the more trades you put on, the more money you will make (while having a positive expectancy).

    Let’s see how important this is.

    You have a forex trading strategy that wins 70% of the time, with an average of 1 to 3 risk to reward.

    But it only has 2 trading signals a year.

    How much money can you make from this forex trading strategy?

    Not a lot, am I right?

    Well, you might even lose in that year since there’s a 9% chance of losing two trades in a row.

    As you can see the frequency of your trades is important but it’s not enough to determine how much money you can make in forex trading.

    There are a few more factors that play a crucial role.

    Differences Between Demo And Real Account In Forex Trading 2I’m sure you heard a lot of stories where a trader took a small account and trade it into millions within a short time. But you have to know that for every trader that attempts it, thousands of other traders blast their account.

    Let’s not treat trading as get – a – rich – quick – scheme. Treat it as a business you’re looking to grow it constantly over time.

    Let’s say that can result in 20% a year (on average).

    If your account is a $1000 you’re looking at an average of $200 per year.

    Your account is a $1m, you’re looking at an average of $200,000 per year.

    Or your account is a $10m, you’re looking at an average of $2,000,000 per year.

    Let’s say it is the same strategy, same risk management, and same the trader. The capital of your trading account is the only difference.

    No matter what strategy or system you’re using, the bottom line is you need money to make money in this business. Period!

    Because your bet size determines how much you can make.

    How?

    The bigger you risk, the higher your returns.

    Let’s say your trading strategy has a positive expectancy and trigger a return of 20R per year. And you have a $100,000 trading account.

    How much can you make from your trading?

    This depends on how much you’re risking per trade.

    If you risk $1000, you can make an average of $20,000 per year.
    Or if you risk $3000, you can make an average of $60,000 per year.
    And if you risk $5000, you can make an average of $100,000 per year.

    This is the same strategy, same account size, and same the trader.

    The only difference is your bet size (or risk per trade).

    But…

    If your bet size is too large, the risk of screw up becomes a real possibility. That is to say, you have a higher risk of detonating your trading account and it will reduce your expected value.

    So, how much money can you make from Forex Trading?

    However, it depends do you withdraw or compound your returns.

    If you make an average of 20% a year with a $10,000 account, after 20 years you will have $383,376.00.

    But if you withdraw 50% of your profits each year you will make an average of 10% a year and after 20 years you will have $67,275.00 on your account.

    So, It is clear enough that compounding your returns will generate the highest return.

    But is it workable or not depends on how you manage your trading business.

    OK, you’ve learned the main factors that define how much money can you make from forex trading.

    Now, let’s see how to use this knowledge and figure your potential earnings.

    Example:

    Trading expectancy – 0.2 (or 20%)
    Trading frequency – 200 trades per year
    Account size – $10,000
    Bet size – $100
    Withdrawal – None

    Now implement this formula: Trading expectancy * Trade frequency * Bet size.

    And you will get:

    0.2 * $100 * $200 = $4000

    You see?

    To sum up, you can expect to make an average of 40% a year.

    And the answer is, there’s no one factor that determines how much money you can make in forex trading.

    You must look at these 5 and monitor and assess the success or failure of various  processes
    1. Trading expectancy
    2. Trading frequency
    3. Account size
    4. Bet size
    5. Withdrawals

    Then implement formula: Trading expectancy * Trade frequency * Bet size.

    In this way, you will have an objective measure of how much money you can make in forex trading.

    Read this too: Best Forex Brokers UK FCA Regulated

    Risk Disclosure (read carefully!)

  • Investment Opportunities – How To Identify

    Investment Opportunities – How To Identify

    How To Identify Investment Opportunities
    It isn’t easy to find investment opportunities and anyone can fall into many traps while seeking that. Here is how to avoid them.

    By Guy Avtalyon

    Someone would say: We all know the basic words to successful investing: Buy low and sell high. But it isn’t so easy to find good investment opportunities.

    What else or different you can tell us?

    First of all, I have to tell you that investors need to have rules.

    Otherwise, the common saying can be difficult to perform, especially when many of your friends and colleagues are doing the opposite. If you don’t have a solid structure and order you are predestined to fail.

    Investing or trading is like a robotic work, without emotion and always strong adherent to your rules.

    You can find more and more investment opportunities opening themselves up to the investors. But not all of them are good investment opportunities. In fact, so many opportunities have drawbacks. First, you can be confused and may not pick the right one. Second, you might want to pick too many. That is dangerous per se. You can end up running like a headless fly, monitoring too many stocks, with investing more than it is reasonable. Hence, you may neglect something very important for your investment goals and financial security. The consequence easily could be your empty bank account or you’ll end up in debts.
    The following are things to look for when finding an investment opportunity.  If some investment opportunity has most of these things or all of them, you are looking at one that is likely to bring you wealth.

    For example, if you don’t see yourself owning stock in a company you are looking for in the next ten years, then you should stay away from investing in that company. Most of the money made in business investments come from owning stock in the company. Investors are leaving it alone until the value rises and reinvesting your dividends versus rapidly buying and selling your stock in a business. That is the so-called long-term viability.

    You have to measure the risk involved in a market investment against the potential reward. A good ratio is one to three. After that, you should set up a maximum acceptable loss.

    What is the first rule of investing?

    BUY LOW!

    Determine the baseline value for an investment or trade, and wait to buy it until the price is below what is reasonable. When the stock market declines and other investors panicked and start short selling, that is the best time to look for buying opportunities. Ideally, you want to purchase an asset after the price falls significantly, with the expectation that it will rise again in the future and produce a good return.

    All rules of investing

    The second rule of all investment is to SELL HIGH!

     

    After the price rises dramatically it is time to consider selling an asset. This is often a time of stock market growth when many people are impatient to buy into a rising market. When some investment shows significant gains, this is the ideal time to cash out and lock in your return. You could gather the income into a secure investment or look for a new underperforming asset and try to repeat your success.

    How to find investment opportunities?

    The golden rule is to LEARN FROM YOUR LOSSES! Yes!

    In trying to buy low and sell high, you are forced to make some mistakes. If it is easy to buy low and sell high, everyone would do it. Try not to lose sleep over it or give up investing altogether when you lose money on some investment. Maybe you just have to take a break for a while and later capture market returns with an index fund. Or you will learn to more carefully research investment before putting more than you can luxuriously afford to lose on the line. Your fears can’t be the limiting factor that mutes your potential. Let that storm be the fuel that moves you to success.

    Where to find investment opportunities?

    Use your fear to produce better outcomes!

    You should have a list of the investments you have made in the past. Think about what you could do to produce better outcomes in the future. You can get colossal insight from physically writing down outcomes you would like to avoid. That can prevent you from making emotional investment decisions. If you have a financial planner or adviser or someone else who will look over your investment ideas, that adds gravely deeper layers of reliability and responsibility.

    You have to have a plan to avoid later regrets!

    Of course, that large loss can cause you to regret because of bad investment decision. There’s also the regret that comes from watching other investments got wings. When you have a good plan of inventorying and you analyze your investment options often, that can help avoid a negative result. Writing it down makes it easier to stick to a plan.

    Ultimately, investing is about finding the lifestyle that you want to live. So, you can’t do that if never find good Investment opportunities.

    Choosing wisely may produce enough wealth to allow you to retire sooner or walk away from an annoying job. All you need is to use logic and stick to a financial plan to successfully build wealth.

  • Entry Trading Strategies That Make It Easier – Forex Trading

    Entry Trading Strategies That Make It Easier – Forex Trading

    2 min read


    Entry trading strategies can be very complex but simple too. Forex traders have many activities working against them, and among them, the biggest enemy is – traders themselves. Basic mistakes, lack of planning and weak or ineffective strategies, are the major cause of high forex failure rates.

    One of the trader’s mistakes is entry trading strategies complexity.

    The best entry strategies are those that are simply designed and simple to perform. The biggest enemy of effective trading is complexity. You should never identify complexity with quality. If you think the more moving parts in a strategy can give you the greater chances of profit, you are totally wrong.

    For example, you have an entry signal that has a 10 point checklist to trigger. And you want to apply that in live trading on a minute chart.

    What are the chances that you can keep track of all 10 checklist criteria?

    If you can’t identify that trade in real time, you will gonna miss it.

    And it will cost you money.

    What this means is, complex strategies lead you to missed trades.

    Your forex entries will be more effective if you keep them simple. Stay stick to this wisdom and you will be able to create a durable forex strategy.

    The second enemy in your entry trading strategies can be the timeframe.

    Entry Trading Strategies That Make It Easier - Forex Trading
    Jumping from timeframe to timeframe in order to find the perfect one is not the most effective way. Also, many traders choose the first one that grabs their attention – wrong too. Forex time intervals are a personal choice connected with trader’s character, personality, and nature.

    If you are impatient you would like to see your trade spread rather soon than later. And you wouldn’t wait for trades that take a long time. That means that faster timeframes suit you better.

    But faster timeframes also means you have to stay more engaged so you don’t miss key setups. And be careful, every extra second is a chance to do something emotional, like move a stop or take profits too early.

    The faster the timeframe, the less chance for mischief.

    But maybe the slower timeframe better suits you.

    Maybe you enjoy to plan and manage the trade with less furious tempo. Slower timeframes give you time to think.

    That can be a great advantage if you like having time to analyze.

    Especially if you want to put on more than one trade at the same time.

    Slower timeframes may give you more time to manage trades and perform them well. With longer time frames, you have more spare time.

    No timeframe will ever be perfect.

    If you choose well, it can be a good match for your trading style. And most importantly, you’ll have taken a step towards your own Forex strategy.

    One of the most important aspects of any trade is its size.

    This represents the amount of money in initial size and in total risk.

    General truth in trading is to keep your risk small and constant.

    Where is the point if you win on 3 trades making $400 each and if the fourth one loses $5000.

    Forex is the market with the greatest ability to sizing money risk. But only if you plan ahead. If you want to risk $1000, make sure you size your position to risk $1000. Don’t try to sensate your way into a trade.

    Decide up front the maximum it will cost if it goes against you.

    Sizing control is a fantastic attribute of the Forex market.

    But this attribute can be a benefit if used in the right way.  You have to plan ahead to cap your risk at the right level. If you do this right, your Forex entries will be more in good shape.
    Entry Trading Strategies That Make It Easier - Forex Trading 1
    And start with fixed outcomes. A fixed outcome is a pre-set plan for how you will exit a trade and usually it comes in as stop limit or profit taking the order. A fixed outcome is a pre-set plan for how you will exit a trade and usually it comes in as stop limit or profit taking the order.

    The fixed outcome will reduce the risk of changing your mind and moving the stop to take on more risk, your profit aim will be set and you can relax without wondering when to take profits. It’s a good habit in case something drags you away from your screens. Your trade can function without you right from the start. Fix your outcomes in order to cut down impulsiveness in your trading.

    Forex strategies can be a great deal simpler and more effective than many traders make them. 

    If you have not yet mastered a trading method, you will not be able to get good entries into the market. Thus, the first step is taking some time to get proper training in an effective trading strategy. Find some good one!

    And good luck!

    Risk Disclosure (read carefully!)

  • Avoid Bad Investment Moves – Strategies that work

    Avoid Bad Investment Moves – Strategies that work

    2 min read

    Strategies to Avoid Bad Investment Moves

    It is possible to avoid many bad investments.

    If you know what “catches” to look out for and which clarifying questions to ask.

    Most bad investment scenarios can be avoided by following simple rules.

    First of all, you have to avoid emotional and personal investing mistakes, wisely avoid.

    Many investors, even the well learned, can confirm they made a rushed and impulsive decision and didn’t avoid a bad investment.

    Also, many have made decisions while high on emotions so as to score instant satisfaction.

    The danger of making bad investment choices cannot be overemphasized. You can use an extensive set of control strategies that people use to limit bad decisions.

    What are some of the bad investment choices you can make?

    * Failures of rationality – This represents the lack of possibility to see the bigger picture. The investor considers decisions in isolation and doesn’t include their impact on an entire portfolio.

    The consequence is that you can invest too much in a single asset class, industry, Or geographic market. Yes, because you know a lot about it and are comfortable with such decisions. 

    * Using a short-term decision horizon – when an investor is ignoring the appropriate goal of long-term wealth accumulation.

    The favor is short-term returns. 

    But you are here to stay. Right?

    The consequence is that losses are more likely in the short run. Much more than over longer time periods.

    People are twice as sensitive to losses as to gains. This behavioral phenomenon is known as “myopic loss aversion”. And their inclination to take short-term risks is too low.  So they often make the wrong investment decisions.
    Strategies to Avoid Bad Investment Moves 3
    * Buying high and selling low – means doing what’s comfortable amidst either bullish or bearish market conditions. The consequence is that when you are buying while markets are high or selling when markets are low is a risky strategy that fails to take advantage of market opportunities. A buy-and-hold strategy turns out to be superior.

    * Trading too frequently – this is the result of multiple emotional and personality-driven characteristic. That produces an irrational tendency toward action.

    The consequence is that investment costs are higher.  As the frequency of making the other types of poor decisions is increased.

    Strategies to Avoid Bad Investment Moves 4
    The experts recommend these seven self-control strategies. They can help counter your tendencies to make bad decisions and avoid a bad investment. The use of these strategies was not limited to investments and often included other behaviors and other important lifestyle decisions.

    Here are the seven strategies and their application to financial decisions:

    1. Limiting options – Purchase illiquid investments to avoid the urge to sell investments when the market is falling.
    3. Avoidance – Avoid information about how the market or portfolio is performing to stick to a long-term investment strategy.
    4. Rules – Use the rules to help make better financial decisions, such as only spending out of income and never out of capital.
    5. Deadlines – Set your own financial deadlines aiming to save a certain amount of money by the end of the year.
    6. Cooling off – Wait a few days after making a big financial decision, before executing it.
    7. Delegation – Delegate your financial decisions with others, allow your investment advisor to manage your portfolio.
    8. Other people – Use the help of other people to reach their financial goals. Make some appointment with your financial advisor to make and execute a financial plan. Certainly, you don’t want all your money in just one kind of investment. So you can safely choose a single advisor or firm to handle a range of investments.

    The stock market’s tendency to produce large gains and losses. So there is no shortage of faulty advice and irrational decisions. 

    As an investor, the best thing you can do to pad your portfolio for the long term is to implement a rational investment strategy. The one you are comfortable with and willing to stick to. 

    If you are looking to make a big win by betting with your money, try the casino.

    You should be proud of your investment decisions in the long run. In that way, your portfolio will reflect the solidity of your actions.

    You would this: Bargain Hunting – The Holy Grail of Investing

    Risk Disclosure (read carefully!)

  • Forex Trading is Profitable. Right or wrong?

    Forex Trading is Profitable. Right or wrong?

    2 min read

    Is Forex Trading Profitable?

    Forex trading is profitable but the market isn’t endless, you have to know that.

    The size of your trade has an important impact on how you can bring a trade out.

    Don’t look at the percentage of what a so-called pro-trader does. People like to think in percentages way too much.

    Percentage of what?

    When you start, you can have someone who would be your ideal or paragon. But you always have to keep in mind that such trader is already experienced in trading.

    She or he does some things spontaneously, and you are the one who just stepped in on this scene. But if you’ve mastered some trading skills and have tested them well on some free demo account, you may have even one advantage.

    The experienced traders have more money, it is a blessing and a burden at the same time. But you can be more flexible to trade with high precision very close to how the market moves.

    What I want to say is, you should never underestimate a “small” position. Forex trading is profitable even in that situation.

    For the FX market, you can be small fish.  

    But that “small fish” can make a couple of hundred USD per pip. Is it good enough for you? Well, that’s why comparing percentages without comparing the actual pot is an unnecessary exercise. 
    Is Forex Trading Profitable? 1
    But it isn’t easy. Hard and smart work lies behind it. Of course, you have to involve a bit of luck to find the right stocks, right things while your motivation is still on the top. But when you make any success, you will see it is worth it.

    But you have to be dedicated to trading in order to be able to trade when markets move the most. If you live in a European time zone it is from the early morning to the afternoon. But if you live in some other part of this lovely planet I would recommend to your attention, one of my older posts.

    Some traders said: I’m trading short term on the 1-minute candlestick chart.

    Take this as a recommendation:

    Average holding time depends on what the markets offer you but it is rarely under 6 minutes and rarely over 20 minutes.

    Stay focused on reversal signals and have pay attention to good ones and fake-signals apart. Support/resistance areas play a role but you need to practice to be good at it.

    You have to treat trading as a profession or a business.

    Only in that way success will come.

    Why I’m saying this to you?

    Is Forex Trading Profitable? 2I have a friend. Forex trading has been an expensive venture for him, indeed. In his first 2 years of trading, he lost $30k. He almost went bankrupt because he was naive and greedy. His main problem was, he entered at the wrong time and exit at the wrong time. No matter what he did he was always on the wrong end. At that moment we couldn’t talk about how forex trading is profitable, right? This improved drastically when he found his own method. (And maybe this is the secret of any successful trader.) Now he has been profitable for over 15 months.

    Forex trading is profitable but not for everyone

    But I’ve seen a numerous amount of people lose everything in trading.
    Hundred and thousand times you should ask yourself:

    Why do I trade? To become rich? Is it a hobby?

    Do I love it or I hate it? Is forex trading harmful to me?

    Why I am forcing myself to all of this? Just for a chance to be a member of the profitable 5% club?

    Did you ever hear the saying: “If you don’t know who you are, the market is an expensive place to find out.”

    And the most important question is: Is trading really worth the effort invested?

    Trading attracts mostly because of the freedom it provides.


    Trading Forex isn’t a “get rich quick” method.

    With constant profits in order to make enough money not only to live but to build up a constant surplus.

    So, you can move on with your plans and plan your life. Maybe your focus on how much money you can make per year isn’t the best.

    You may think you can see better, you know better and you can believe in that. But that is a great paradox and tiny line.

    If you cross it, it can be the biggest tragedy. In every single moment, you have to take care of risk control.

    It doesn’t matter what you see or you think you know.

    Risk control! Double-check! Opened eyes! Use the excel.

    Sometimes, even the things you wrote before can be very helpful. Having some downloaded system is useful but money management is KEY to success.

    To gain knowledge of how to make a profit is much much more than what you can learn from a job in the corporate world.

    The knowledge has to be the goal.

    Yeah, I know. Time is money.

    Forex trading is profitable for me.

    Is it worth it? Yes!

    Should you continue trading? Yes!

    Should you continue with your studying? Yes!

    Should you continue looking for a job? Yes!

    Can you manage to do all of these things at the same time? It is up to You.

    The main factor for success is your permanent education and training. You have to believe in yourself and find what works for you.

    The only thing that brings you to your failures may be your ego.

    And if you aren’t ready to keep going after a series of losses, Forex probably isn’t for you.

    Risk Disclosure (read carefully!)

  • Investing in Cryptocurrency – The Pros and Cons

    Investing in Cryptocurrency – The Pros and Cons

    2 min read

    The Pros and Cons of Investing in Cryptocurrencies 2

    Investing in cryptocurrencies is generally a risky investment. Investing in cryptocurrency could be a good investment, or it could not. It depends on you and your attitude. In crypto’s early days there is no yes or no answer about the wisdom of investing in cryptocurrency. With this in mind, we will cover some pros and cons and give friendly advice. Remember, this isn’t professional advice, we don’t offer professional legal, investment, or tax advice.

    If you don’t just want to buy, sell, or invest in cryptocurrency. If you want to invest in cryptocurrency, you have several options.

    First comes first: You need to start investing in cryptocurrency with some flexibility. You have to be prepared to lose everything you invest in cryptocurrency. It probably won’t happen, but be careful. The least risky coins are the coins that are present the longest time and have the highest market cap and highest volume. Anything other than Bitcoin, Litecoin, or Ethereum is riskier. Bitcoin is the current top coin for resilience, market cap, and volume. Also the most expensive.

    There are several pros and cons to review before investing in cryptocurrency.

    CONS:

    The cryptocurrency market has been very volatile since its beginning. The price of Bitcoin can swing up or down hundreds of dollars in one day. We have already seen a few bubbles and busts in the past. There is a risk of the venture on a given coin even if cryptocurrency is prosperous. Even if cryptocurrency is a good long-term bet, we don’t know if any coin will be the one that sticks around. Even more true for the countless less popular coins with smaller market caps.

    The Pros and Cons of Investing in Cryptocurrencies 1Those with low-risk tolerance have a difficulty; they are inclined to getting weakness and pulling out at a loss while the market is fixing up or going down. An investor needs to be prepared to take a loss or sit on a loss for a while if the market goes down. That requires a certain type of mindset and expendable funds. There are some psychological factors to consider along with economic ones.

    The only way to trade cryptocurrency on the stock market is to buy GBTC (Grayscale Bitcoin Investment Trust), which trades at a premium. The simplest way to buy a cryptocurrency for a novice aside the stock market is via some company. They charge some fees for that, but the lowest fees are on the open exchanges of the internet. Between premiums and fees and finding a broker, all options for trading have costs and it isn’t easy to calculate.

    Spirit level of crypto investors is changeable. Like the Moon. Bad news in term of regulations can send crypto value to drown in one day. But the same news another day may have no effect. If you join some cryptocurrency group on social media, and you’ll note it goes from hot-to-cold with the weather. The market is a bit fussy, I think.

    PROS

    The cryptocurrency market is still young, and the most optimistic investors are predicting future prices, some of them claim that it can be for e.g. Bitcoin, $220,000 by 2020. Cryptocurrency is a very risky but potentially rewarding bet. More, if cryptocurrency is in a bubble, the trend could very well be toward cryptocurrency being an important medium of exchange and store of value in the future if the current price is lower than the highest price we will ever see. That makes it a good long-term bet. You can often buy high low and sell high. There is money to be made.

    The Pros and Cons of Investing in Cryptocurrencies 4
    Despite all its risks, crypto is possible the most exciting asset 21st century. It is decentralized, works on blockchain technology which is here-to-stay. You can find billions of motives about why everyone has to be excited about crypto. As much as reasons to be conservative in your investment.

    Don’t dump your whole saving into crypto, but don’t hesitate to put a small investment you are ready to lose, just to learn and have fun on your beginning. Later you will have the know-how.

    TIP

    If it is the bubble, then pop it!

    One of the reasons for taking extreme caution is the current potentially high price. If the price goes back down to 2015 levels, then the number of PROS will increase. The unknowns and high price and volatile market make it risky, but there are plenty of reasons to be excited despite all that especially long-term.

    Investing in cryptocurrencies is very risky, markets are volatile and the technologies are still quite young.

    But, they are still a great opportunity for anyone interested in investing.

    Treat them as you would any investment and do your own research.

    Step into this new world while is time.

    Risk Disclosure (read carefully!)

  • Why Should You Use Bitcoin?

    Why Should You Use Bitcoin?

    2 min read

    There are several reasons why you want to decide to use Bitcoin instead of traditional currencies.

    One of the most reason is the Bitcoin’s capability to be used anywhere, anytime, and in any amount.

    When you are using Bitcoin, there are no borders, no bank holidays, no bureaucracy.

    All aspects of Bitcoin are controlled by users.

    Another reason can be the lower fees.

    That’s why many people are starting to choose Bitcoin as a currency. When receiving Bitcoins you do not pay any fees.

    Before sending Bitcoins from your wallet, you will have an option to choose how high your fees.  This is depending on how fast you want to verify and complete your transaction.

    That luxury you don’t have with bankers transactions. You have to pay as much as they decided it to be.

    But it isn’t the best part on why to use Bitcoin. 

    All transactions, no matter how many Bitcoins you are sending, will cost the same amount in fees.

    That is the most wonderful part.

    You can send 400,000 BTC or only 1 BTC and the fee for the transaction will be the same.

    That’s wonderful, don’t you think so?

    Even more, merchants are offered special merchant processors who assist them with processing transactions. In exchanging BTC into the merchants’ preferred form of fiat currency, and depositing the money directly into their bank account.

    And all of these transactions are Bitcoin network based. This means the fees are much lower than if you use your credit card.

    Or some else card or payment method.

    But the most important 

    All Bitcoin transactions are secure, contain no personal information about the buyer and irreversible.

    That makes Bitcoin the perfect currency for merchants who are seeking security and stability.
    Why Should You Use Bitcoin?
    This opens up a world of opportunities for any merchant. It gives them the ability to expand into locations that have high fraudulence risks. Or where Credit Cards aren’t accepted as a method of payment, all while keeping their services or products safe from fraud.

    Well, there is a very high fraudulence risk with credit cards.
    But with Bitcoin, it is absolutely excluded.

    It’s impossible with Bitcoin.  

    Paying with BTC give the opportunity to both side, merchants and buyers, to expand into locations that have high fraudulence risks and to avoid insecurity.

    No matter how you spin it, this is a win situation for merchants.

    On the buyer’s side is an advantage because each user has full control of their wallet. It is completely impossible for a merchant to charge a user without their knowledge, as often is seen done by many unethical trades.

    Payments are made without giving any personal information, so the merchant doesn’t even have to know your name to complete a transaction.

    Besides, if you as a user or buyer and still feel unsafe or vulnerable, you can protect your BTC via a backup or encryption.

    And the best feature of the Bitcoin system – all transactions are transparent and clear on the public blockchain.

    This means if there are any complications with any transactions. They can be instantly looked up, on the public ledger and verified.

    Bitcoin’s core code cannot be manipulated in any way to give an edge to either the seller or the buyer, because everything is cryptographically secure.

    But like in everything, there are some reasons why shouldn’t you use Bitcoin.

    Why Should You Use Bitcoin? 1
    First of all, relatively there is still a small amount of businesses and people using it. The main reason for this is the low knowledge of the benefits that BTC offers. Many businesses are on-board and they want to integrate BTC into their payment system, the list is still small.

    High volatility is something else that you should consider.

    The amount of businesses that use Bitcoin is low and any event, trade, or activity can have a high effect on the price of Bitcoin.

    Over time this volatility will decrease and stabilize as more and more companies start using Bitcoin.

    Actually, Bitcoin is still maturing and this presents a certain degree of risk. It is only 11 years old and what we can expect from it except hormonal party as well as every entry into puberty. That was the joke.

    Bitcoin is the first, oldest and largest cryptocurrency and we have to support it with mandatory respect. 

    Bitcoin showed the world a new sense of freedom and was the cause of the development of other cryptos.
    Respect!

    Read this too: Why you should not invest in bitcoin under any circumstances

    Risk Disclosure (read carefully!)



  • Trading Forex – How I made $10,000 on a trading platform?

    Trading Forex – How I made $10,000 on a trading platform?

    trading forex

    Trading forex can be very profitable and you can earn money quickly. Here is how.

    By Guy Avtalyon

    My trading forex story begins like this: I was so tired of “opportunities” that end up taking nothing but a lot of time and money out of my pocket while gaining nothing except lost time and money. Don’t get me wrong, I was willing to put my free time into something that is real.

    The forex market offers more opportunities for quick financial success and financial ruin too than almost any other market. The crowds have always been attracted to it. They include speculators, trading novices, retirees, and professionals looking for a way to get out of debt, increase the excitement in their lives, or simply get rich real quick. I’m one of them.

    If you have a computer and an internet connection, you can trade forex from anywhere in the world, it is the best home-based business of the 21st century. But the problem is that most people don’t know how to trade forex.

    Learning forex trading is not easy

    It requires time, patience, and sustained effort. Most people lack the time to learn forex trading. I wanted to become rich. And the first lesson I got was: I have to fail and learn from my failures. I know that most people fail but do not learn. The skills of the trade aren’t like taking a diploma and slowly walking on the path of your career. In trading, when you “advance”, you don’t even know if you’re making progress in the right direction.

    When the results show otherwise, it’s so hard to admit that the past months or years of “progress” wasn’t that at all. And after admitting that to yourself, you need to learn from it. You have to put your ego aside. Trading without emotions is a MUST.

    Have you ever heard of someone turning a $100 starting capital into $100,000? Maybe you have. Well, such stories were and still are very rare. You really must have the full picture.

    I have to tell you some big truths.

    Trading forex is not a shortcut to instant wealth.

    The old saying “It takes money to make money” is a precise one, Forex trading including. What would you have to do to start at  $100 and have a trading account worth $10,000 a year later?

    Almost any pattern of gain or loss is theoretically possible on the forex. But return on investment (ROI) calculator shows you that to accomplish this, your annual rate of return on investment needs to be 9,900%! If you enter and close out one trade every day of the year, the average profit on each trade would have to be at least 464 percent on those 100 bucks! You’d have to more than quadruple your money every day to come even close to $10,000 at the end of a year.

    Does this sound like something that’s happening in the real world?

    There’s something so deceptively rational. The idea to start with $100 and turn it into $10,000 needs to be shown into return rates to show how absurd this really is. It may be theoretically possible, in reality, it’s no more likely that your cat is starting to fly.

    No matter what you were told, you have to know that your starting capital is the place to start. Having a good starting capital can help you to set your trading goals, define your risk management, and adapt your trading system and position management around your starting capital.

    For many traders, a starting capital of $10,000 should be a good starting point. Depending on other factors such as leverage you can start making profits for as little as $10,000.

    The math for trading forex

    Assume you start trading with $30,000 and you can risk on each trade is $300 (1% of $30,000). You use 4:1 leverage, which gives you $120,000 in buying power (4 x $30,000) and utilizes a strategy that makes you $0.21 on winning trades and you lose $0.12 on losing trades.

    A good trading system will win 60% of the time. Your average is 5 trades per day, so if you have 20 trading days in a month, you make 100 trades per month.

    60 of them were profitable: 60 x $0.20 x 2300 shares = $27,600

    40 of them were unprofitable: 40 x $0.13 x 2300 shares = ($11,960)

    Let’s say your cost per trade is $20 (to get in and out). Your commission costs are:
    100 trades x $20 =$2000.

    If you pay for your trading platform or exchange entitlements then those fees are added in as well.

    That means, you can make approximately: $15,640 – $2000 = $13,640 or about a 45% return per month.

    Return on a single trade

    As your account grows, your position size and your income will become larger.

    Thanks to the availability of leverage, forex traders can make a return on a single trade. When multiples of the margin they used to open the trade. But, leverage is a double-edged sword. It can also mean big losses. Reliance on excessive leverage as a strategy typically leads to the destruction of your account capital in the long run. This is because it only takes one adverse market move to drive the market far enough and trigger losses. You need to view forex like you would any other market and expect normal returns by using conservative amounts of no leverage.

    Websites that propose big and fast returns, to start with $100 and turn it into $10,000 in a short time, or imply that you can somehow get rich quick on the forex starting with very little are openly speaking frauds.

    What you can do?

    In the last few years, many pro traders have started their own forex signals services that provide trading signals to their subscribers via email and SMS.

    Copy the trade of these pro traders onto your own account the instant they are made.

    Now, what this means is that the pro trader is going to do all the market analysis, decide which currency pairs to trade and when to enter and exit the market. You don’t need to do any of the stuff above.

    Follow elite traders when trading forex

    At the same moment when pro-trader makes the trading software will instantly copy that trade onto your trading account.

    So, if the pro trader makes a winning trade, you also make a winning trade and if the pro trader makes a losing trade, you also make a losing trade.

    Try the best forex signals service in your opinion on your demo account. Install the trade copier software and start copying the trades made by the pro trader.

    At the end of the month, evaluate the performance of the forex signals. If not satisfied, go for a refund. After several tries, you will be able to find a good forex signals service.

    Most pro traders make around 1000 pips per month. 1 pip on a standard account is equal to $10. 1000 pips per month mean making $10,000 per month.

    Voila! You earned your $10.000!

    But before all, make sure you test the signals for at least two months on your demo account before you start trading live.

    And you should know some basics of forex trading. You can learn that online for FREE. Most of that information is available for FREE.

    Good luck!

  • What is the best day trading strategy?

    What is the best day trading strategy?

    What is the best day trading strategy?
    Day trading is connected to great risk but also with great potential to profit.

    By Guy Avtalyon

    So, let’s see what is day trading.

    Day trading points to the rapid purchase and sale of stocks throughout the day. With the goal that purchased stocks will climb or fall in value for the short frame of time, seconds, or minutes.

    Day traders believe that through certain day-trading strategies, they can add up small daily wins into long-term profits.

    Day traders have their own jargon and terminologies, online communities for day-trading tips, support, and strategies.

    But you have to know – day trading is risky and only for speculative investors.

    The day trading strategies

    Scalping Strategy This is the philosophy of how small wins can add up to a lot of money at the end of the day. The scalper sets a buy and sells target and sticks to these levels.

    The scalping strategy is fast and traders make buys and sell within a few seconds. This is one of the best day-trading strategies for traders who can make quick decisions and act on them without regret or doubt.

    These traders have enough discipline to sell immediately if they see a price decline. In that way, they are minimizing losses. This strategy isn’t for people with short nerves. But still, it is very popular.

    Momentum Trading Investor jumps on a stock whose price is moving up. When to use the momentum day trading strategy?
    This strategy is very popular for beginners because it focuses on news and recognizing strong trends.
    Stock movement of 30 to 40%, smaller stocks, which trade faster due to the reduced number of outstanding shares, a unique and major move in price, driven by a catalyst like a surprise earnings growth, a drug company’s huge, new treatment launch or news that a small company will be acquired by a larger firm. Option stop – loss is required as insurance.
    Just hold your position and wait to see indicators of reversal and simply get out. Also, you can decrease the price drop and round your price target at the moment the volume starts to decline.

    The most important part of this kind of day trading strategy is to be extremely aware of the expected news and earnings reports. If you execute it correctly, you’ll be able to profit from each trade. And you trade just short as few seconds per trade. Wonderful!.

    Breakout Trading – When the stock price rises above the former top resistance price you can use this strategy. You should monitor the level of stock trading volume or how many shares are changing hands. Breakout trades on high volume are more likely to be sustainable at the new higher price than those breakouts with less volume. It’s not as easy as looking at a chart, recognizing the resistance, and then buying after a breakout.

    Breakout trading focuses the point when the price clears a particular level on the chart. Also, you have to notice that the volume is increased. So, you have to enter into a long position after the stock breaks above the resistance level. The other possibility is to enter a short position when the stock breaks below the support level.

    To explain this more detail, after the stock trades beyond these levels, the volatility will increase and the stock price will usually follow the trend, meaning it will move in the direction of the breakout. Always keep in mind these two levels: resistance and support. You have to see how frequently the stock price hits them. More hits, more volatility, more important the levels become.
    Plan your entry point according to which level the price hits. If the price is set close or higher than the resistance level is, you’ll need to take a bearish position. The contrary is when the price hits the support level or move below. In that case, you’ll need to take a bullish position.

    Your exits should be set reasonably. Calculate the average recent changes in price to set your price target. For example, if the average price is 3 points more than the last few swings, your price target will be rational. When the stock price hits your target price, just exit the position and take your profit. You had a winning trade.

    Day trading on news

    News Trading – You must be keeping an eye on the business news, day traders can capitalize on the popular daily stories.

    If the news is bad, you might short the stock during the day by “borrowing” shares of the stock from the investment firm. And then selling those borrowed shares.

    Similarly, if the stock price declines as expected, you should buy the shares back at the lower price and profit from the difference less a commission payment. If the news is good, you go long or buy the stock outright and sell the shares after the price rises. 

    Pullback Trading – The first step is to look for a stock with an established trend. Then, monitor the trend until there’s a price decline from the trend. If the established trend is upward, then the pullback is an entry point for the day trader to buy.

    If the trend completely reverses after you buy-in, there’s no need to panic. The trend usually continues in the trending direction for a long time.

    You may find pullback ”candidates” from the stocks making the biggest gains.

    Is there any risk involved

    But be aware!  ”Day trading is extremely risky and can result in substantial financial losses in a very short period of time,” according to the SEC website.

    And one advice: If you’re afraid to try your hand at day trading, only invest money that you can afford to lose.
    Or don’t try this!

    Read more about Strategies to Avoid Bad Investment Moves