Category: Forex

Forex trading news is part of the Traders-Paradise website. Here you’ll find a valuable explanation about the Forex trading and investing strategies, analysis, predictions.

Forex market or shorter FX is the market where different national currencies are traded. It is the largest, most liquid market in the world. Also, it is an electronic network of banks, brokers, institutions, and individual traders.
If you want to know more about trading forex and the Forex market as a whole, you’ll be the regular visitor of the Traders-Paradise website.

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We have free Forex guides that cover how to get started, support you to make your first trades. Moreover, Traders-Paradise outlines how to create a long-term trading plan for long-term success.
There are several reasons why anyone should opt for forex trading. By trading forex, you can access a market that is far larger than any other market in the world.

And Traders-Paradise gives you an insight on how to start. guides you through the registration process. Our team will teach you how to start forex trading with little money, how to avoid traps of trading. Our posts are for all of you who know nothing about the Forex market but at the same time, for those seeking advanced and rare techniques.

What else will you find here?

Most important news about forex trading and investing. But our primary goal is to show you how simple is Forex trading and investing.
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  • How to know if Forex Trading Signals is a scam

    How to know if Forex Trading Signals is a scam

    By Gorica Gligorijevic

    Most of the scams were interrupted thanks to the enforcement of rules by bodies such as the FCA. But today we are faced with the more advanced scammers.

    Of course, not every forex signal is the scam.

    There are still very reliable services but it can take time to recognize them. First of all, there are so many speeches about scams all around the forex. Don’t believe every word you hear. Just because someone offers poor quality, doesn’t necessarily make it a scam with the intention of cheating you. Think about the intent of the sellers. If all they want is your money without making an effort to deliver, it’s a scam.

    The opportunity of scamming still exists for many forex scams.

    Scammers tempt new investors with a promise of quick fortunes through “secret trading formulas” or algorithm-based “proprietary” trading methodologies. Before choosing a broker or platform, go through your own search.

    Forex signal providers may be an individual or retail firm that promises to trade your account or give you signals to enable you to make a killing out of the market. Some of them will promote their experience and back it up with a few testimonies.

    Some promise very high returns and guaranteed profits, either through a managed account where the firm makes trades on the investor’s behalf or by trading using the firm’s trading platform. Most traders will receive some initially returns from the firm to give the impression that their trading has been a success.

    Scammers will encourage traders or investors to invest more money. But at this stage or soon after the returns stop, their account is suspended and there’s no further contact with the firm.

    Important to know is the fact that many scam firms claim to be FCA authorized.

    How can they do it?

    Many fake trading and brokerage firms will use the title, ‘firm registration number’ (FRN) and address of regular companies and signal providers who are FCA authorized. This is the so-called ‘clone firm’. The fake providers will give you their phone number, address and website details. Sometimes they will claim that a brokerage’s contact info on the Register is out of date. Or scammers might claim to be abroad firm, and that’s the reason they don’t have updated contact and website.

     

    scamm

    An example of scam trading signals

    Some scammers may copy the website of an approved company, and change, for example only the phone number.

    When you want to pick your signal provider you have to check several things.

    Trustworthy Forex signal service should be verified in websites like the Forex Peace Army. Further, you shouldn’t pay more than a few hundred dollars for a good signal system.

    Be especially careful of system sellers who offer programs at excessive prices and claim they can guarantee remarkable results. Choose one of the many legitimate sellers who are decent and whose systems have been properly tested to potentially earn a substantial income.

    Another problem is the mixed funds.

    Without a record of separated accounts, the trader cannot follow the precise executions of their investments. If you don’t check this issue, you are opening the door to scams. Scammers can use a trader or investor’s money to buy houses, cars, and planes or just vanish with your money. They can offer an investor the false opportunity to have his forex trades managed by highly-skilled forex traders who can offer outstanding market returns in return for a share of the profits.

    The catch is, this “management” offer requires the investor to give up control over his money and hand it to someone he knows little about other than the hyped-up and often the completely false record of success available on the scammer’s website and booklet. And the trader or investor often ends up without money, while the scammer uses investors’ funds to buy yachts.

    Still, the forex market is not entirely unregulated.

    Some forex brokers do not deal fairly with their customers and defraud them.

    How does it work?

    They start as an unregulated broker. And they publish the offer of large incentives to recruit affiliates who then bring the clients. Once the broker has a few million dollars in funds, empty the accounts, transfer the money to an anonymous tax haven and shut the doors.

    Hard to believe?

    If some signal seller claims that everything he or she touches turns into gold, don’t trust.

    Trust me, I am rich! C’mon!

    Their model is a fairytale of sales tactics where clients are suckered into a free seminar, then persuaded to buy several thousand dollars courses, then upsold again to a more expensive course. The tactics are so good the clients don’t even know they’re being cheated. The education they provide is nothing you can’t find for free elsewhere on the internet. Pay them to teach you, start trading, and allow them to buy a Lamborghini. Huh!

    Million Dollar Pips was one of the most popular strategies ever sold, but the developer never traded it on a real account.

    How does it work?

    Develop a simple automated strategy that trades a lot with a high percentage win rate. Run it on a dozen accounts using a variety of settings. After several months, pick the best track record and publish to Myfxbook or some other traders community site.

    Develop a sales page detailing how “sophisticated” and “professional” the strategy is. Buy an email list, contact affiliates offering a 50% commission on all sales, then launch!

    A few years ago it wasn’t uncommon for someone to sell thousands of copies of such strategy.

    This kind of scams will fail, there is no doubt. Like any other did.

    Where the warning signs can be found?

    If brokers won’t allow the withdrawal of monies from investor or trader accounts. Or, if it is impossible to withdraw money.

    Also, if enter or exit a trade during an economic announcement is not in line with expectations. And, if the trading station doesn’t operate to your liquidity expectations.

    The best way to determine if a signal seller can benefit you is to open paper money or practice trading account with one of the better-known forex brokers.

    Be patient, and eventually, you’ll determine whether predictive signaling works for you or doesn’t.

     

    The list of the biggest scammers you can FIND HERE on Traders Paradise’s Wall of Shame

    How to avoid signal provider scams

    I think everyone should learn at least the basics of how to spot Forex scams.

    First, ensure you deal with signal service providers originating from locations you have heard of before.

    Second, if they are authentic, their payment method should be one of the common online payment methods such as PayPal or credit card payments.

    Listed here are some of the attributes to look into before following a signal service:

    The signal should have verified records of myfxbook, FPA, and other credible verification sites.

    The rule is, if the results are not verified, just move on do not waste time or money on unverified results.

    In most cases, you will not know on what basis their decisions are made on, so this makes the verification part very important. Focus on signals with over 6 months record of profit and with over 100 trades. If whatever is being shown as results are for less than 100 trades that means the statistics are not sufficient to make any judgment.

    The result should be sufficient to offer statistical significance to inform your decisions. Again if the results are for less than 6 months, then the strategy could just be lucky and with time it may be proved wrong.

    Make sure the signal operates with drawdown levels you are comfortable with.

    This will vary from one trader to the other. Some traders have a bigger desire for risk some have low. If for instance, you take a strategy with 30% drawdown, that means $3,000 could be in drawdown with an account of $10,000 and you remain comfortable. So work with a drawdown that does not give you sleepless nights.

    Don’t just focus on how much a strategy earns, take a look at its drawdown too.

    Get a signal with reasonable performance or subscription fees. When you are paying to a signal service, also check the fee charged is fair. Unless you are doing this to test the strategy, this strategy will only make sense if you have a huge account.

    As we said before, any forex signal service should offer a certain trial period or money-back guarantee. They should allow traders to test before buying. If that is not the case, move on and don’t do not waste your money. If they don’t trust their strategy, why should you?

  • Forex Trader Alert: The New Trading Scam To Avoid

    Forex Trader Alert: The New Trading Scam To Avoid

    Forex Trader Alert: The New Trading Scam To Avoid
    Anyone that guarantees profits of 100 percent or more should be marked as a scammer. There are no guarantees in Forex trading.

    By Guy Avtalyon

    According to some research, the new trading scams are increasing, so that’s the reason behind this Forex trader alert. Nothing is unusual; Forex trading increases and becomes more attractive for scammers as the people seek quick ways to earn money. As a beginner in the Forex market, you have to pay attention to these dishonest practices and avoid becoming a victim to those who prey on newcomers. In this article, I’ll give you the Forex trader alert and explain how to identify Forex market scams. But more importantly, I’ll tell you how to avoid them.

    The forex market is the largest financial market nowadays. Its average daily trading volume is over $5 trillion. And it’s growing because more and more people are interested in earning by trading Forex. Today, it isn’t hard due to the advanced technologies implemented in trading platforms. Trading can be automated as much as you want, from partial to complete, so it’s more convenient for ordinary people without a great knowledge about trading currencies.

    Forex trader alert: signal seller scams

    I know that almost all beginners believe that a good signal seller is a MUST if they want to profit. But how will you know who is a good signal seller? How will you distinguish good signal providers from the scammers? Well, you have to look out for multiple characteristics, many different things.

    One of them is unverified results. To be clear, if the signal sellers tell you they have an extremely high percentage of return, but they don’t have a track record to document, you can be sure they are scammers. Why? Simply, if they don’t have the track record, it is more likely they have never been trading based on these signals.

    The second forex trader alert could be subscription fees. Some scammers may offer you marvelous profits without verification. But here is a catch: to get access to the trade, they will ask you to pay extremely high subscription fees – one thing you have to pay attention to. When you give them some of your banking or credit details, they could use them for some other purpose, so be very careful when doing so. 

    My main concern about these scammers is how do they expect anyone to believe them. For example, if they have such great trade signals, why should they sell them? Why don’t they keep them out of the public eyes and use them to profit big? Why are they selling them?

    Also, as a beginner, pay attention to broker-tied signals. For example, a signal seller offers you this kind of service, but only if you sign up with a particular broker. They might receive the broker’s provisions, so they don’t really care whether your trade results in losses or profits.

    Forex trader alert: How to avoid scammers

    Scammers will promise you large profits with minimum or no risks. The logical question is how anybody can guarantee anything 100 percent? So, if someone gives you 100 percent guarantees, the alarm must be turned on because it’s more likely fairy tales. On the other hand, if someone has a 100 percent working strategy, why should they want to sell it? Instead, such could enjoy all benefits and profit in the market, right?

    These scammers will ask you some small fees or no fees. But be cautious. There is no such thing as free lunch. Well, maybe in the mousetrap. Keep this in mind, especially if you’re a beginner in the Forex market.

    But nothing is black and white as usual. Even with the knowledge that you can find many scammers out there, the Forex market is a great opportunity to profit. All you need to do is to follow some simple rules.

    For example, if you find some platform or broker claiming that has confidential data or a secret method that will provide you large profits, ask for the free trial, demo account, or similar. Also, check if they are registered. Be especially cautious when they ask you to install any trading software. You have to check it, and sometimes that will require professional assistance. Fraudulent software can be hazardous for your computer, your personal data, and sensitive data on your computer. 

    For example, a valid broker will provide you a proof of its legitimacy. Anyway, pick the Forex broker from the list of regulated companies.

    It would be best if you had a trusty and safe broker, not one that gives you false promises. Check Traders-Paradise’s Wall of Fame.

    How to find a reliable Forex broker?

    It’s not an easy task, so take your time and examine it. Don’t rush! You have to examine all pros and cons. Google it. Find as much info as you can. Read reviews, visit forums, ask people. It’s better to spend more time assessing the brokers than to have a bad experience with them and lose money. 

    Also, be very cautious whenever you see someone offering quick and easy money. Whoever tells you that you can make money with a gain of over 25% per month is lying to you. There is no easy money in the Forex market. You’ll need a lot of education, fast minded, and patience to be profitable here. You have to spend time and effort to learn how to trade. Otherwise, you’ll never earn even a small amount.

    What can you do to protect yourself?

    It is important to examine how the broker fits the regulatory authority regulations. You’ll find some information on brokers’ websites, so check them. Look if you can find some anomalies, something strange or unusual. Compare that with regulations. 

    Almost to forget, read all the small letters! Sometimes you’ll find important things there. Remember, scammers like small letters! They like to put their terms and conditions there, and you might have a problem when wanting to withdraw, for example, bonus funds.

    What should you ask to avoid Forex trading scams?

    You have all the right to ask questions to determine if you’re dealing with a trustworthy broker or scammers. Also, demand all the info in written form. No, you cannot give trust based on a phone call or verbal communication. 

    For example, ask the broker about the bid/ask spreads. If the broker says it is around 8-9 pips, don’t trust. The regular bid/ask spreads are 2 or 3 pips. This is a great forex trade alert. The spread is very important both for the trader to make a profit and broker.

    Always use the service of a regulated broker. Such has good client reviews, and it’s authorized, transparent in fees and compliance policy.

    The attraction of quick and easy money will always be around us and present in the market among the traders. That’s why you must understand what it takes to be successful at currency trading. Using a get-rich-quick scheme will put you at risk. Nothing good could come with it. Remember, never pick the broker with great but unrealistic promises and don’t trade randomly. 

    I’ll tell you more about the second in one of the next articles.

  • How to predict movement in the Forex market?

    How to predict movement in the Forex market?

    How to predict movement in the Forex market?
    It is possible to predict movement on the Forex market based on several factors.

    By Guy Avtalyon

    I know some of you will wonder if it is possible to predict movement in the forex market. We are all suspicious about any kind of predictions, so why wouldn’t we be when it comes to the forex? On the other hand, almost every successful forex trader will tell you that successful trading comes from the ability to predict the movement in the forex market. So they must know something or they have some secret ingredients or skills.

    I want to tell you that the ability to predict movement in forex isn’t something you can be born with. Actually, it is something you are building all your trading life. To create that complicated construction, you must understand the factors that influence a currency’s exchange rate. Of course, if you want to profit from forex trading.

    Well, why shouldn’t you?

    Millions of traders want to trade Forex because they understand it is the best market to trade. The potential of the online trading market is excellent.

    So I want to tell you more about the factors you should consider in trading forex. That could help you to predict movement in the Forex market in a way to have better chances for success.

    Predict movement in the Forex market

    One of these factors you have to pay attention to is economic growth. The central banks in a country with a strong economy will raise the interest rate to prevent inflation. Higher interest rates always drive the growth of the number of investors, which means the demand for domestic currency increases. 

    Another factor you should understand is geo-politics. You have to watch and notice any kind of disturbance in the political scene. I know you might think it’s too dull. Well, this is very important if you want to predict movement in the forex market because political changes can change the direction of the exchange rate. We saw this so many times in history. If you want to trade currencies successfully, you’ll need to follow political and economic news. 

    Speaking about interest rates, keep in mind that some currency’s value increases along with rising interest rates. This increased value is known as capital appreciation. That is exactly what gives you the opportunity to profit in trading forex. The currency rate is associated with interest rates. So pay attention to it. The data you gather could be a great help in predicting movements in the Forex market.

    Arguably one of the most important factors is recognizing if the currency is conditioned on the country’s capital or trade flow. Capital flow represents the amount of investment some country receives from international capital reservoirs. Trade flow represents income produced from trade. So, you’ll notice that some countries depend on capital flow, while others are very dependent on trade flows.

    The least important factors are mergers and acquisitions when we talk about predicting movements in the forex market. Still, mergers and acquisitions can show you near-term currency changes. Smart traders always pay a lot of attention to them.

    Sure ways to predict movement in the Forex market

    The power to predict movement in the forex market can differentiate a profitable trader from a loser. It’s essential to understand the factors that cause changes in the currency’s price value if you want to last in the forex market. Here is another set of factors that will help you predict any movement in the forex market and allow you to get an advantage in the trade.

    The Consumer Price Index, or CPI, is one of the reliable methods. This measure indicates when the prices of consumer goods are rising or falling. When CPI is above 100, you can be sure the inflation is on the scene. On the other hand, we can be talking about deflation when it is under 100, as the prices are falling. You can calculate CPI per formula

    CPI=(Ct/C0 )*100

    where Ct is the cost of a market basket at the current time, and C0 is the cost of a market basket at some point in the past with which it is compared.

    How does this influence forex trading?

    It’s quite simple. If the inflation rate is steady, you’re sure you can trade a specific currency pair. On the other hand, if the inflation rate is high, stay away, or you’ll end up in losses.

    Catastrophic natural disasters such as hurricanes, earthquakes, or floods ordinarily change a country’s currency and never in a favorable direction. The consequences of these events could cause a currency to depreciate. 

    Also, wars! They might have a calamitous result on the economy. I’m not talking about the damage to infrastructure. The currency value can be diminished, which is more important. It would help if you were updated on such an event to predict the movement in the Forex market. If you trade a currency pair that consists of the country’s currency in war, wait till the economy stabilizes.

    You must have information at your disposal to help you trade forex. No one is saying you should trade without risks involved, but you should calculate the risk. It is the key principle if you want to make a maximum profit. Forex traders are always updated on events that may change the currency pair’s rate. By knowing them, you’ll be able to strategize your trades better. You’ll have a clue when to enter or exit the position.

  • Trading Forex without a stop loss

    Trading Forex without a stop loss

    Trading Forex without a stop loss
    Some professional traders don’t use a stop loss. So, why is it advised to traders: “never trade without a stop-loss”?

    By Guy Avtalyon

     

    There are numerous opposing data on the web when it comes to trading forex without a stop loss. A few years ago, I read an interesting article about professional forex traders who never used a stop loss. It was utterly conflicting with my opinion. Well, I think that using a stop loss can protect your trades from more significant losses. But I found that these traders don’t want the algorithm to catch them. They don’t wish to algorithms to know where their orders are settled. 

    Do I need to explain how big nonsense that is? You need stop-loss orders to protect your trades from huge losses. But they don’t use them.

    And there is why they never do that.

    Some of the professional forex traders are negligent and significantly rarely pay attention to risk management. Sometimes they are so sure in their ideas and things that they don’t need a stop loss.

    I’m sure you had a chance to read about or watch forex traders trying to get out of their losing positions like mad just to provide modest profit or just break-even.

    Some pro traders are unreasonable and unwilling to take a small loss if they are positive, they are right. In my opinion, this is irresponsible, and you cannot find many such traders staying in business for a long time. Usually, they end up burned.

    Why trading forex without a stop loss?

    Let me explain something. If you use a stop loss, you’re able to cut your losses quickly. When you place a stop-loss order, the trading platform will immediately close the trade when it hits that unfavourable level. On the other hand, a take-profit order is the highest level where you want to have profits. As you need to set a stop-loss order, you need to place a take-profit order no matter how strange it could sound. If you have a take-profit order in place, your trade is protected from price changes that can go against you.

    But you want to know if there is genuine proof that trading Forex without a stop loss is possible. Also, you might want to know a precise strategy that entirely eliminates setting a stop-loss order.

    And I’ll explain that particular strategy.

    Trading Forex without a stop-loss strategy

    Professional traders that never use a stop loss usually place a hedge on their initial position. You can find many methods to build a hedge and avoid setting a stop loss.

    One of the most popular ways is to place a sell order at the level of stop loss. Let’s assume you enter the trade with a buy order, but it moves against your favour. So, instead of setting a stop loss, you can place a sell order at the same level.

    It isn’t always a good move; very often, it can lead to a losing position. For example, if some unexpected but massive change in the market happens, you’ll lose a lot. Several years ago, it occurred to the Swiss franc. It increased in price enormously after it was unpegged of the Euro. Traders that didn’t place a stop loss for their trades that included sell orders for the franc had huge losses. That was a dramatic situation. So, you can avoid setting stop loss in trading forex, but you could face a lot of problems and huge losses.

    Traders that used this hedging strategy and bought the EUR/CHF with a pending sell order, but without stop-loss, didn’t make money. But, whoever placed the stop loss instead of the hedge, had a fantastic trading day. Remember, on that day; the franc beat the Euro by over 40%. It was in 2015.

    The arguments behind trading forex without a stop loss

    Some of these traders believe that using a stop loss means accepting losses before the price finally moves to your direction. In my opinion, if you think the same, maybe it’s time to analyse the stop loss placement. I’m sure you’ll find where the problem is. Possibly you’re placing stop-loss point too close to your entry point. Keep in mind, a stop loss’s purpose is to limit your risk in each trade. So, try not to misuse it. 

    Some traders believe the excellent trading system is to hold a losing position until the price hit entry point and finally converts to a winner. Basically, this kind of traders avoids taking a loss. But will the price always come back to entry-level? I’m not so convinced.

    Who can know will the price go up or down? No one is able to predict the exact movement of the price. 

    What I know for sure is the price will change for thousands of pips from the current price. That’s reality, and I’m not speculating. Do you really want to bet against this fact? Are you sure you can oppose it? Can you have a winning trades without a stop loss? I would never bet on it.

    Some traders could tell you the stop loss can be triggered by “stop hunting” managed by the big financial organizations and they don’t want their stop loss levels to be triggered accidentally. But we have to be honest with this because financial organizations are trading when important news appears. Such a situation could force the volatility in the market, it’s true. But you can place your stop loss far away enough to avoid the influence of the event. Anyway, if you’re a beginner in forex trading it’s better to miss trade during such a period.

    Professional traders trade without a stop loss is a legend

    You should ignore this. The truth is there always will be the wild traders in the market. Many would like to try their hands by taking too many risks. 

    Trading forex without a stop loss could expose you to huge losses, and your profits could be unprotected. I know, getting stopped out isn’t the most pleasant, also it could be painful. But, don’t you think it is better to exit the position than to have losses? What you really have to do is to size your position small enough. In this way,  your stop loss level will be hit on extraordinary circumstances.

  • How To Make Living Trading Forex?

    How To Make Living Trading Forex?

    How To Make Living Trading Forex
    Trading forex is like a battle – if you want to win, you have to be ready for it.

    By Guy Avtalyon

    If you’re new to trading, you might wonder – how to make living trading forex? Is it possible at all? Well, everyone knows the small traders don’t. But, I have to tell you it’s possible. Even for the small traders. 

    It’s really possible to make a living from forex trading.

    I was just like you several years ago. You wouldn’t believe how desperate I was to earn money. Yes, I had a steady job at that time but it was barely enough to spur my dreams. And one day I met a man who told me he was making thousands per day.  I couldn’t believe it. I thought he was joking. That man told me he is a forex trader. 

    So what, man? The shocking surprise came several days later.  I heed his advice and have made thousands of dollars. 

    I’ll show you exactly how I did and how you too can do the same. So, here is! How to make living trading forex? 

    You might start making money from Forex trading even if you start with a $1 account. Honestly, if you start under $1000 you’ll not have a chance to leave your current jobs but slowly, your capital will grow and you could eventually make a living by trading forex.

    So, how to become a successful Forex trader? How much can you really make? How to make living trading forex?

    Let’s hop right in. 

    How to become a professional trader?

    The problem with new traders is that they minimize the engagement needed to succeed. If you’re not ready to do what it takes to become a professional trader you should put your dreams about making serious money aside. You have to be committed. You’ll need to invest a lot of your time to learn, build a winning stance by getting the trading skills. You’ll need a suitable mindset, one that will allow you to make money constantly.

    First of all, never give up due to the slight mistake. Second, never challenge or make wild trades. That will lead you to lose more than you should do. 

    Start your day trading as a part-time job. Think about your profits as an additional income. Later, when you come up to the point of fully understanding the forex market you might decide to invest large sums. But firstly, test yourselves, your skills, check your risk tolerance, your trading personality. Only in that way, you’ll build confidence. Never just jump in trading. 

    How much capital to invest to make a living trading forex?

    This is a very important decision. Don’t underestimate it. You have to precisely calculate how much money you can put at risk. That said, it isn’t the same when you are trading to earn some extra cash to pay for luxury travel or you’re risking your hard-earned money to live better. Sometimes, the financial survival of your family is in the game. Trading forex could be extreme psychological pressure. So, you’ll have to decide how much money you can put at risk until you develop and improve your trading strategy.

    What is the secret to Forex trading success?

    A consistent Forex trading plan. If you don’t have a trading plan, you will lose your money. Eventually, you’ll not succeed as a forex trader. Bear to your mind, you’ll not make billions on a single trade. The success in forex trading means you have a series of consistent trades supported by your trading plan. It is never a matter of luck. Forget it! Only if you have a consistent trading plan you can be successful. Forex trading isn’t gambling, so luck has almost zero influence. 

    It’s like in your life. Your life is shaped by things you’re doing consistently. Not from time to time. 

    If you want to be a successful Forex trader you’ll need the dedication to trade according to your trading plan. You’ll need your own rules, your strategy. 

    How to trade Forex? 

    You’ll have to learn how to predict the movement of the forex market. That’s not all! There is more! 

    For each transaction, you’ll need to predict how the value of one currency will go against the other in the currency pair. Some pairs are moving 100 pips every day. That depends on the market conditions for the day you’re trading. And it is changeable. Sometimes during one day, the changes can be enormous.

    Guys, I really hope you know what the pip is! Nevermind, it is the smallest movement of a currency pair. For example, if you trade EUR/USD currency pair and it moves from 1.1900 up to 1.2000 you’ll make a 100 pip move.

    In forex trading, you can buy different lots of the base currency you want to trade. I hope you know what is a “lot size” in the forex?

    The important part of forex trading is to look at indicators to choose the pair and the time to trade. Indicators could be literally everything, from price patterns to macroeconomy. 

    You might think it’s hard to follow but here is your trading plan to help you. Also, you can find some accurate apps and use them. Or, you can use some trading signal provider. Whatever you choose you’ll have to understand the forex is full of mysteries, especially for new traders. So walk carefully throughout this field. Never rush! It’s better to miss the trade than to have the wrong trading and lose money. 

    When you fully understand forex trading you’ll see unlimited opportunities there. And you’ll see how to make living trading forex.

    How much money can I earn trading Forex?

    Yes, I’ve heard a lot of stories of Forex traders that made millions in the short term. I’m sure you’ve heard them too. Forget them! Forex trading isn’t some get-rich-quick scheme. It’s a business. You don’t believe it? Okay! 

    That’s not your pair of shoes. These traders are another category, you’re not the same. You are unique! All your characteristics are different. Your risk tolerance is unlike the trading strategy, you have different rules of risk management. Almost everything is different. Don’t compare yourselves to them. 

    How much money can you make trading forex? I don’t know. Nor anyone can know. 

    Think about the size of your account, also, how many trades you want to do per month, expected returns, will you withdraw your profits, or you’ll reinvest, how much you’re ready to risk per trade. When you get the answer to all these questions you’ll be able to calculate how much money you can earn in forex trading. 

    In any case, you must have realistic goals set in place. You must have a trading strategy with a positive outlook. Also, you must trust your trading plan.

    How to make living trading forex?

    It is like any other job. That means you’ll need skills and strategy. Motivation plays a great role. Find a mentor, that is the easiest way. Let successful traders inspire you. Learn from them. But remember, you’re in charge, you have to create your unique path, you have to shape your trading career. 

    Bear in your mind, every profitable trader made mistakes and still makes mistakes. You will make them too. But try to do that without sacrificing a big portion of your trading capital.

  • How To Profit On A Smartphone?

    How To Profit On A Smartphone?

    How To Profit On A Smartphone?
    You can use your smartphone to trade forex through one of the many Forex apps. You don’t need a PC or laptop anymore.

    By Guy Avtalyon

    Do you know how to profit from a smartphone? No, you don’t need to sell it. It’s about how to use it and profit. Actually, you can start profiting on a smartphone right now. This second. I’ll explain to you how to do that.

    What I am talking about is trading. You can trade stocks, forex… Trading is the easiest way to earn money from your smartphone. For example forex trading.

    Forex trading runs 24/7. Can anyone stay in front of a computer or laptop for 24 hours? You know the answer already. So, you can find a broker with a platform that offers currency trading from a smartphone. Everything you need is good internet access. 

    Here is how to profit on a smartphone even if you’re traveling or you’re far away from your computer. 

    Let’s say you have an open position and you’re waiting for some news to decide what to do. But you have to leave your office or home and will not be able to check the news for the next several hours. Here is your smartphone on the scene. You’ll get the necessary news on your mobile. So, you’ll take out your mobile from the pocket, open your chosen trading platform, close the position you hold and earn your money. Make your profit!

    Trading forex or stocks on a smartphone is one of the best solutions that can make you money. Also, one of the most comfortable.  

    The advantages of trading on a smartphone

    First, you don’t need to invest money to buy a smartphone because you already have it. Second, you don’t need extra money to invest in the internet because you already have it. Well, the truth is you’ll need faster internet and more megabytes. Third, quite good apps you can find for free. Fourth, you don’t need a special room or so to trade, you can do it from any place all over the globe. The rest depends on your trading personality. 

    Sounds good enough, right?

    Basically, it is the most comfortable. Imagine the following situation. You’re stuck in the traffic jam. What are your chances of using a laptop and trading from your car? There are some, to be honest, but you don’t have your laptop in hand. Your smartphone is right there. And you have some apps installed (we’ll talk about apps more later) so you don’t need to waste your time to find good internet access. You already have 4G or even 5G for outstanding internet service.

    You are always up-to-date, you have market data in real-time. In my opinion, the smartphone is much better and more convenient than a laptop. When you use a smartphone for trading forex, you have real-time currency rates. That’s all you need to trade, sell, and buy currency, whatever you like based on your strategy.

    Forex mobile apps simplify your trading 

    The truth is they make it more flexible. When trading on smartphones using apps there is a minimum chance to lose profitable trade opportunity. You can trade anywhere and anytime! What is better than this? So let’s see How to profit on a smartphone.

    Forex trading apps for smartphones or IPhone are incredibly useful. No matter if you use them for your business or for trading currencies. Well, this post is about trading currencies. So let’s see what apps are recommended as best.

    At a glance, without doubts, you can use TD Ameritrade, ThinkTrader, MetaTrader, and FXTM.

    Among the stock trading platforms to practice with you can choose Stock Trainer. 

    Stock Trainer is a training app experienced for android. If you still don’t have enough experience in the stock market you’re qualified to use this app. You’ll get a virtual trading experience, necessary knowledge with real market data, you can practice where to set stop-loss orders, limit-orders, where to take profit. Moreover, you’ll find this app in the Android Google Play store and for free. 

    Thinktrader is a wonderful trading platform that provides analysis. The main advantage is that this forex trading app is really advanced. This app will help you to spot and track currencies worth your money. Also, you’ll have access to indicators and tools for drawing charts. Thanks to split-screen and quad-screen modes you’ll be able to watch several markets at a time. This app will provide you, besides analysis tools, trade data, streaming quotes for the major currencies trading, relevant news in real-time, all markets from Europe, America, and Asia are covered. But most importantly you’ll have trading alerts, the trading simulator, the risk scanners, statistics reports, and many other useful tools. This app is available to free download for iOS and Android.

    FXTM is an automated forex trading platform. Maybe the most popular among forex traders due to its full regulation. Anyone can use it, from beginners to advanced traders. Also, it offers leverage, so you can boost your earning potential. But the same leverage will not be offered to every trader. It will be done according to your experience. The great advantage for beginners is that you’ll have a plethora of educational materials on hand and a lot of free trading tools.

    The other benefit of using Thinktrader are variable and fixed spreads. Also, you can withdraw your money in a few minutes after you close your trade. You can make trades with quick execution rates. This is a very convenient and trustworthy app. The app isn’t free to download, you’ll need a deposit of $1.000.

    MetaTrader is another extremely popular forex trading platform. What can you expect here? First of all, interactive charts, superior tools, and also, you can trade different financial instruments. Meta Trader is suitable for real traders that use Android. This app offers a comprehensive analysis of the markets. It uses real-time interactive charts that include historical data for any financial instrument. So, you can easily monitor quotes and price movements and make money. 

    Trading in Forex on your smartphone

    So, you can see how to profit on a smartphone. 

    You can download so many apps related to trading. Even if you don’t have a full understanding of forex trading these apps will help you a lot. You’ll have, for example, all forex news if you have a forex news app, all accurate data, you can learn to trade or gain more experience. It’s so easy to find a free app that will help you in decision making. By using a smartphone you’ll be able to trade easy, smooth, and fast. You don’t need a robust or high-end computer to make a trade. Moreover, you can trade no matter where you are, you don’t need to sit at home or office and monitor your trades. 

    Like it is with any job: you should work smart, not hard. Apps are here to make our trades easier and more profitable. 

    In short, that is how to profit on a smartphone. It’s so easy today. So, don’t hesitate, download some free app, test it, practice and make your first real trade after that. 

    Happy trading, guys!

  • Best Trading Strategy Without Indicators In Forex

    Best Trading Strategy Without Indicators In Forex

    Best Trading Strategy Without Indicators In Forex
    This trading strategy means you’re trading without indicators. It is also called a naked forex trading or price action trading.

    By Guy Avtalyon

    Let’s say you’re a beginner in Forex trading and still don’t understand indicators quite well so you would like to know what is the best trading strategy without indicators. One of the best ways is to trade using a price action trading strategy. Actually, I’m gonna suggest you some.

    Forex trading is complicated for some people because so many technical indicators are involved in trading. One of the simplest forex trading strategies is the forex portfolio price action. If you use this really the best trading strategy without indicators. And you’ll see, you’ll find some of the trades by using this strategy. 

    What is price action trading?

    Price action trading is the best trading strategy without indicators and I’ll show you how simple and favorable it is. The point is to find out how the price will behave when you test it in support and resistance zones. This strategy will help you to identify where the price movements form a swing high or swing low. The simplicity lies in the fact that you don’t need moving averages or some lagging indicator to identify it. These indicators can be confusing but with a price action trading strategy, you’ll have a clear chart. Why am I so sure this is the best trading strategy without indicators? Because thanks to it many forex traders are very profitable. No indicators are involved, you don’t need to know them, no need to understand them or recognize. 

    So, let’s be more concrete. Here is how to use price action strategy.

    The best trading strategy without indicators

    As I said no indicators involved but we’ll discuss how they can be dangerous if you use them in the price action strategy.

    Now, you have to pay attention to price action setups. If you notice that there is no price action, it is a so-called dead zone. Who would like to trade there? Literally no one. The dead zone is as the name indicates, exactly that – dead. Nothing happens there. The price doesn’t make any move. The sellers and buyers are like on the teeter. The dead zone is a standby zone, nothing happens and everyone is expecting what is going to happen. No one wants to trade because it is impossible to enter or exit the trade in the dead zone and win. The reason is simple, no one wants to do anything. So, never enter the trade in a dead zone.

    Forex trading is a game of nerves

    So when there is no price action you’ll have to wait until something starts to happen. 

    The other price action setup is the red zone. That is where all price actions are happening. That is exactly the point where you’ll have to make almost all your trading decisions. This is a zone with a lot of price movements. You have to be focused on such an occasion. Even with a move of 20 pips only, you’ll have a winning trade. With 100 pips you can potentially make a lot of money.

    Your next goal is to reach the end zone. As I said, the red zone is where the price actions happen, but you’ll have to move closer to the end zone if you want to maximize your profits. Only then the price action strategy will give you its best. So how to find this zone? Simple! When the market is 10 to 20 pips wide that means there is enough space for changes and adjustments. This spread of 10 pips is exactly what you need for the best trading strategy without indicators. The price action strategy needs changes to provide you a successful result and exit in profit.

    Price action strategy without indicators in Forex

    All you have are support and resistance and volume. Volume isn’t an indicator because it is a statistic. 

    So, this strategy is only about two things. First, you have to identify what is the price action in support or resistance zones. If you notice the market comes into high resistance, the traders now can do several things. The first is that they could do nothing because the price enters the resistance level. Second, traders could start to sell. If they didn’t have an open position, they could start to sell short. Also, traders could buy. 

    But what we need here is to see a large volume on a breakout. We need a lot of buyers to move the price to break the resistance. So, what we really need is a lot of buyers, a lot of orders, a lot of trades. 

    But pay attention! This can be a tricky part. What if a new resistance occurs? It is possible to happen and here is what you’ll need to do if you want to profit. If you notice a new resistance it is likely an exhaustion pattern. As I mentioned it is not the right time to buy. You’ll need more space between the point you entered the trade and the point where you exit. Some traders would trade the new breakout. But it is the wrong decision. You should wait until the price breaks the new resistance, just be patient. But what if the price does not break out above it?

    You’ll have to wait until resistance becomes a support to buy low and sell high.

    Drawbacks with forex trading without indicators

    The price action strategy is also called a naked forex trading. The main problem here is that you’ll need a lot of developed skills to use this strategy. This means you’ll have to understand market psychology,  why the market moves, and you’ll need to recognize how the market moves, and how it will move. Also, sometimes you’ll need to rely on intuition and it isn’t the best way. At least, it isn’t a safe way. But it can be a very profitable strategy once you develop your skills. Maybe you should start with a demo account, that is something I always recommend to beginners.

    Anyway, you should look at price action first and then at indicators. If you need, use the indicators to confirm the decision to make the trade. This strategy will save you time, you have only two factors to estimate. Your trades will be less stressful and simpler. The final consequence is that you’ll be able to trade more precisely. In any case, never just jump into the trade, you’ll need to know when to enter and when to exit your trades. Don’t do anything before you determine these points.

  • Moving Averages As Support and Resistance Levels

    Moving Averages As Support and Resistance Levels

    Moving Averages As Support and Resistance
    Finding the key support and resistance levels is a crucial component of trading. Moving averages can help.

    By Guy Avtalyon

    Is it possible to use moving averages as support and resistance? How can they help us in trading? Is there any trick on how to use them? We know from the previous article that moving averages are an average of closing prices during the recent days. How much info we can use in the meaning of moving averages as support and resistance levels?
    If you take a look at any chart with moving averages and trend lines that are formed you’ll understand why this is the subject. Moreover, this understanding may have a great impact on your profit.

    Moving averages as support and resistance are extremely powerful and we’ll show you why and how.

    What are the moving averages as support and resistance?

    First of all, these levels are not just like conventional support and resistance. Conventional, traditional levels are visible as horizontal lines in your charts but these provided by moving averages are dynamic. They are changing according to the recent changes in price.

    Dynamic support and resistance levels are zones where the market could pull back into and get support requiring to be at horizontal support or resistance levels. Why is it dynamic? Because it measures resistance and support using moving averages that are changing as market changes.

    You can find many forex traders that use moving averages as support and resistance levels. For example, it is common among them to sell when the price increases and reaches the moving average and tests it. As a forex trader, you cannot ignore when the price often checks out the moving averages before it bounces back. You must understand that something is happening when the price reaches these levels. 

    What happens is the market is developing, evolving. So you can’t always buy or sell at previously outlined levels. Also, trends’ momentum is dynamic too due to the order flows. Momentum can often be the primary forcing power of trends or movements.

    But to sum what we had here. So-called static support and resistance levels are horizontal and can’t move. On the other hand, dynamic support and resistance levels are moving and they are not horizontal. 

    What causes support and resistance?

    When a price goes up and down, it faces obstacles on the way. If obstacles act in a way to prevent the price to drop lower, we are talking about – support. Hence, when it stops the up progress, it is resistance.

    Support is formed when more traders are selling than buying. Sellers will usually cover their short positions and take the profit. The price will go lower and lower. As it happens, buyers will start to buy at that lower price and many of them will enter the new long positions. If the number of buyers is bigger than the sellers, they will create a support level eventually. But if the price moves up that means the more traders are buying and if the number of sellers is bigger than the number of buyers it is so-called resistance.

    How moving averages help to find support and resistance levels

    The question is how do we estimate the strength of the signal we’re seeing. Is it breakout or bounce? There are moving averages as support and resistance levels on the scene to help us. One of the benefits of using moving averages for this purpose is their ability to be handy even when the market price is going through a hidden area in our charts.

    Have you ever had trouble finding key support and resistance levels when looking at the charts? Of course, you had. It is pretty much usual that when looking at charts and notice a price action, you see the price is pulling back but you cannot find support or resistance levels in that zone. But if you try to reveal how the market is valuing dynamic levels, your charts will be more clear. Moreover, you’ll find some trading opportunities you were missing before. That’s kind of an “angle-changer”. You have one perspective more to judge your trade.

    One of the best ways to estimate the ability of support or resistance levels is to watch price action around them. It isn’t hard to read price action. For example, on candlestick charts it’s easy. 

    For example, if you use the 15-minute chart and the price rises to the 50 EMA. That could be a really good dynamic support or resistance level. You’ll notice that every time the price touches 50 EMA and tests it, you’ll see a bounce back down because the price uses this moving average as resistance. Try it, it’s simply amazing. But the price will not always perfectly bounce back from the moving average. Sometimes it will go a bit above before it starts going back in trend direction.

    Sometimes the price will simply explode through it all together. Some forex traders usually leap on two moving averages and buy or sell when the price is in the middle of the zone between the two moving averages.

    Does this really work?

    The logic behind why moving averages as support and resistance work are very similar to why price moves. Let’s say that the majority of traders use 10-days, 20-days. 50-days, 100-days or 200-days moving averages. So, what do you think, what can happen when almost 90% of them use all these five? Nothin special. But if they choose to use only one of them in expectation for it to operate as support or resistance? Yes, you’re right. The price will respect that. When more traders expect something to happen and they have a common goal, it will happen.
    Let’s examine this in the case of 10 and 20 EMAs that are providing support and resistance. What can you see?

    Can you see how the 10 and 20 EMAs are providing support and resistance?  These moving averages can be a powerful help but only if used with the right assembly factors. Let’s look at a setup where they unite several other factors.

    Can you see how the pin bar marked in the red circle rejected the 10 EMA and a key price action level both? We have a clear uptrend without resistance beyond this key level. This was an example of a great setup. Feel free to test it.
    The price will rarely bounce exactly, again, and again from the same moving average. Instead, it’s more efficient to form a support or resistance zone between two moving averages.
    When the price moves into the zone between the 20 MA and 50 MA, we should ask if a reversal is going to happen. That could be a danger zone, so it may be smart to hedge the position.

    How to use moving averages to lock in profit

    If you want to lock in profit, move up your stop level in your trend-following trade only if you have a clear signal of bounce from moving averages you use as support or resistance. That is one of the tricks for using moving averages as support and resistance. But you have to keep in mind that moving averages as support and resistance levels are just saying to us what’s going on at these levels. We still have to look out for additional signals and find them. 

    The truth is that if you add MAs you’ll have additional in-trade information that may help you to maximize your trades. But like everything in Forex, you’ll have no guarantees. Consider these averages as a tool in your trading toolkit that you can adopt and use to increase your trading success.

  • Why Forex Trading Is Hard For Some Of You?

    Why Forex Trading Is Hard For Some Of You?

    Why Forex Trading Is Hard For Some Of You?
    Experienced traders admit that the greatest problem in the Forex market is not the trading approach but discipline. 

    Many beginners in the Forex market are faced with some difficulties and usually give up and ask around why forex trading is hard. Yes, for some traders it is hard but doesn’t have to be. Once you obtain more experience you’ll see how easy it can be and you’ll never ask again why forex trading is hard because it isn’t. Don’t believe what others are telling you. Forex trading is simple. But it’s really important to learn some basics before you enter this market. It is just like riding a horse. Once you learn it, it’s impossible to forget. And as in riding a horse, you have to know and follow some rules. Yes, you can push on your horse, as you can force your trades, but what will happen? Your horse might refuse to obey. 

    You have to be in line with a horse, calm and considerate, you must have the mental strength to deal with difficulties and stay cool. You must understand your horse and predict how it will act on your commands and have patience.

    Almost the same comes to Forex trading. When we hear someone asking why forex trading is hard for most of the traders, we know such has lost its temper. 

    The other reason why forex trading is hard could be that forex traders rarely like to follow the rules. They tend to ignore them. Maybe we should ask them why. Sticking to the rules may not be so exciting but it is beneficial. Don’t listen to the scammers that offer instant solutions to great gains, strategies that are successful 100%, that work in any Forex market’s condition. Put the logic to work! It is impossible! How one single strategy can be the best for all types of traders, all circumstances, for different market conditions, personal risk tolerances? No way! Avoid such artists, Youtube is full of them.

    When you learn forex trading in a proper way and follow some rules, you’ll never ask such a question of why is forex trading hard. 

    Let’s see why Forex trading is hard for some of you? 

    We already mentioned scammers. We’re pretty sure you noticed that many websites where you can just buy a trading strategy or attend some webinar over the weekend. “Become a supreme forex trader in a few hours,” “All you need is my system-pro to become a millionaire in trading forex,” or “You don’t need to learn, just follow my most profitable strategy of all times.” We really found this on the internet.

    They are in most cases, scammers. Even if you try to watch some video on YouTube you’ll be confused in 20 seconds. Honestly, some of these so-called gurus can burn your brain in a few seconds. Their explanations have nothing with successful trading. They don’t even know what they are talking about. They are totally messed up! 

    Our two cents – If a trading guru wants to sell a fancy strategy, you shouldn’t have losses by copying it. Of course, if you strictly follow the instructions and if you have full access to his/her strategy. Well, elite traders are honest, they will tell you, they will teach you. That’s the main difference. The scammers will sell you, often it isn’t a lot of money luckily, something that isn’t working or not works for you. So that could be the reason and answer the question of why forex trading is hard. Because you got a rotten apple actually.  

    Forex trading can be difficult

    Our brain is designed to run on the principle of causality. We are all trained to understand that everything we do has a particular consequence. Action will cause a reaction. Science also teaches us the same. For example, if we went out without an umbrella on a rainy day, we can expect to get wet. Or if we jump in shallow muddy water, we can expect to get hurt. 

    Right? Yes, in real-life (even if we know some people that are not aware of causal relationships, especially in the case of shallow water), but not in forex trading. In trading, you don’t have a direct balance between the time you spent in learning and the profits you obtain. To explain this. Many beginners expect if they spent weeks and months studying to trade, they could be successful automatically. That’s not how trading is. There is more.

    Forex market is immune to control

    Can you decide if the EUR/USD will fall? How can you know if the USD/CAD will go up or down from the last price? Most people are not able even to guess it. In everyday life, there are things we don’t need to think twice. For example, 1 + 1 = 2. That’s it. Moreover, nothing can change it. But in the markets, every minute is different. So while trading forex you have to change the strategy, method, approach, decisions. Don’t try to implement the trading patterns taken in the past. Basically, it isn’t mistaken, but the fact is that historical performance has surely no relationship to current market performance. 

    The forex market creates incredibly different circumstances where we have zero chances to be sure where or when the market is going to change. Maybe that is the reason why forex trading is hard. 

    So what to do? Anything but never try to put the market under your control. You can spend nights and days watching charts, monitoring your trades but you cannot control the market. One experienced forex trader once said that one of the most important lessons he learned is to accept the randomness in the forex market.

    That isn’t the reason to avoid forex trading, that’s the reason to be ready for any possible scenario of your trades. You’ll be prepared even if your trade setup fails. Read books, learn a lot, practice a lot. That’s the key.

    Why forex trading is hard – your subconsciousness could be the reason

    The main duty of the subconsciousness in forex trading is to protect our wealth. But sometimes it operates in a strange way. In essence, trading should be simple since we have only two options: to sell and to buy. So, theoretically, we have 50 percent chances to be right. Yes, but the other 50% is against us. OMG, I’m losing my mind! That’s the first thought, right? Here is our subconsciousness in play. Let’s see what could happen in trading.

    For example, you entered the stressful position. Everything looked good but suddenly the market turned against you. That’s the stress and your subconsciousness tries to relieve you out of that situation. What are you possibly doing? Exit the position. Why? Your subconsciousness pushed you to exit prematurely. The consequence is that you lost the trade or at least, you missed the main profit.

    Let’s suppose you traded for a while and you decided to set your stop-loss target not too close as always. What happened, for God’s sake? Are you shaking? Sweating? Are you nervous? Of course, you are! Your subconsciousness is warning you’re making a mistake by this deviation from your standard trade. In prior trades by a setting stop-loss order at a particular level, you had the winning trades. So, your subconsciousness doesn’t like changes because, as we said, its primary job is to protect your gains. 

    So, why are you in conflict with your subconsciousness when you both want the same? Yes, that’s true, but you both have different ways to achieve that. To make a profit. When you want to enter a riskier position or to change the previous performances, your guts will try to stop you. And it might cause you to make emotional decisions. You might be frightened to change anything. Your subconsciousness will rather accept small gains than to allow you to take risks and make great profits. That’s why forex trading is hard sometimes. It is a constant struggle with yourself. 

    How to become a better Forex trader?

    Do you remember when you went to school, you used some tools for the lessons? The same is in forex trading. You’ll need tools to become a better trader. In Forex, trading tools are known as technical indicators. You’ll have to know how to use them when trading. Also, you’ll need to use the fundamental analysis to be able to understand the markets. And, a lot of practice. Yes, we know it is the hardest part since many would like shortcuts. Unfortunately, there is no shortcut. In forex trading, it is essential to have realistic expectations. But also, you must have a bit of courage only once you learn how to trade and what may happen after you make some move. 

    If you think you know everything after a few weeks of practicing, you’re in big trouble. That is the perfect way to lose everything you have. And to do it quickly. So, what is the proper amount of time to learn trading forex? No one can tell you that because it is different from person to person. But if you keep in mind all these things mentioned above, the odds to become a successful trader could be bigger. Be patient, learn how to profit from trades consistently. That’s the way! If you do so you’ll never ask again why forex trading is hard. It will not be for you.

    Bottom line

    Why Forex trading is hard is the question for those who want to give up, to quit, and go to sleep. Forex trading isn’t hard, it is a fantastic opportunity to increase your well-being. Don’t expect to be a great trader from the first trade. You’ll make mistakes, you’ll lose money, but you’ll learn. Sooner you accept that the sooner you’ll learn. No one became a great trader by birth. Everyone had to learn how to trade and how to adopt the whole process. It isn’t hard unless you make it hard. 

    In forex trading, as it is in trading in general, you’ll have a lot of enemies. But remember one thing, the most dangerous enemy for your success is you. Risking too much, betting, trading too often, just pick one or all of these to make losses. The forex market is tricky to read, but you have the trading rules to be able to do that. Rules will protect you from making decisions driven by emotions. Let’s go, play the market! But do it smartly.