Jump to content
Now you can advertise your business on Top Gold Forum.


  • Content Count

  • Joined

  • Last visited

  • Points

    0 [ Donate ]

Community Reputation

1 Neutral

About vickymacklean

  • Rank
    New Money Maker

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. Every person strives to become successful in Forex. In the biggest sector, it is natural that the chances of being scammed are also at their highest. Most of the time, people try to copy the style of investors who have been performing wonderfully well for the past few years. Sometimes we read the biographies of legendary traders and get inspiration. This encourages us to move forward and thus help in our career. By getting an insight, it will not only ignites the spirit but also provide some valuable lessons. Change the focus from the scammers and try to see what the industry has to offer. There are many things to learn from the experts. Start the day early This is not a myth. An early riser indeed has more time to manage and plan for the rest of the day. While the general community may like to have a sound sleep, you will find they are walking and doing exercises. Every day is a new battle in Forex. Although there are many competitions, only the best survive. The professionals are not as safe as they know it gets harder with every trade. So, we want the readers to become early risers in life. This will provide many benefits such as getting an overall idea of yesterday’s market pattern, preparing the necessary information for analyses and making the right strategy. As it is done live, every moment is crucial. Do not waste the precious opportunity by sleeping. Work hard for the first few months and later it will become a habit. Trade with a simple strategy The professional Aussie traders never trade the market with complicated Forex trading system. To make a consistent profit, you must learn to trade the market with managed risk. Some of the retail traders often take too much risk to earn more money. But this is not the way to trade the Forex market. Look at the professional traders at Saxo. They use a simple trading technique and make a consistent profit without taking too much risk. They are ready to embrace the losing trades. Unless you develop the mindset of the professional traders, it’s really hard to make consistent profit in this profession. Sudden changes do not upset them Maybe this is the best quality of the professionals. No matter what volatility is appearing and how much dangerous the decision is, they managed to stay surprisingly calm. It is a great virtue especially when there are frequent ups and downs in Forex. A good strategy is important but what is more important is a relaxed mind. Every plan is developed from this brain. As long as the information is not correctly processed, there are no ways to overcome any problems. Have everything planned out From the beginning to the end, including disaster that is waiting, everything is planned out nicely. IA simple person will always think of the reward first but a seasoned trader knows how to attain the goal. Be creative when investing, common techniques are highly to fail. Follow where the price is moving and track the trail. It is wiser to prepare for unexpected volatility so it does not come as a shock. Use fewer tools, lead minimalistic style By replacing hectic lifestyles, they have chosen a simple method. This instantly improves the performance as there is no disturbance. Use only the necessary tools. Do not get influenced by peer groups. Less is more in Forex, it is time standing saying. When fewer indicators are clogging the chart, accurate information can be obtained easily. Based on the type of strategy, select the best minimalistic style. Have long-term goals Rome was not built in a day. Similarly, a fortune cannot be made overnight. It takes hard work to turn a dream into reality. Set long-term goals and in this way, short-term success will be achieved that will lay the foundations of a long and prosperous career.
  2. Becoming successful in life is very hard. You must have complete control over your emotions and lead your life with strict discipline. Those who are habituated with a disoriented lifestyle can’t do anything productive. When it comes to the trading profession, discipline is not the key element that ensures success. As a new trader, you should study the professional traders at Rakuten and only then you will be able to make consistent profit from this market. Among various rules, the top four rules to become successful traders are – 1. Discipline 2. Education 3. Strategy 4. Consistency Discipline No matter which profession you chose, discipline will always be the most important element. Most of the naïve traders break the rules associated with their trading strategy and start taking excessive risks to recover the loss. Losing trades is nothing but a part of this profession and there is nothing you can do about it. You must reprogram your mind and accept the fact, losing trades will become a part and parcel of your life. But this doesn’t mean you will lose most of the trades. To make money in the trading business, you must have a 60% win rate. Once you develop such a strategy, you should not break the rules. Because if you do so, the risk-reward ratio will get hampered and recovering the loss will become impossible. Education Knowledge is power in human life. You must educate yourself and learn the three basic forms of market analysis to become a successful trader. Those who are new to this profession should never trade with real money. Demo trade the market and try to understand how this market works. During your learning stage, note down the details of each trade so that you learn from your mistakes. No one in this world can make a profit without having the proper knowledge. Start with the technical parameters of this market. Learning the technical part seems easy but this is the most complex part of the Forex market. Once you are done with the technical knowledge, focus on the fundamental and sentiment analysis. Based on these three forms of major analysis, you need to create a simple strategy. Strategy Do you know any successful businessman in life? If not, read the biography of Warren Buffet or Bill Gates. They have precise knowledge about their business and they know how to operate under extreme stress. To overcome all the problems in the global economy, the have a balanced strategy. Just like them, the traders need to have a balanced strategy where they can do the advance market analysis based on logic. Those who trade the market with emotions can’t do anything in trading. You are here to make a profit and for that, you must use your intellect. If you start acting on emotions, your strategy will not be effective. And try to develop the strategy in the demo account offered by Rakuten since you won’t have to lose any real money. Once you get confident with the market nature, start trading with real money. Consistency Consistency is very crucial for retail traders. Winning 5 big trades in a row and blowing the trading account in the next trade is not a professional approach. You never know which trade will result in loss. And to prepare yourself against this unpredictable market, you must use the simple strategy which focuses on consistency. Stop trying to win big trades since the result is very dangerous. Never overtrade the market to make more money. A few good trades are enough to change your life. Always remember, trading is the job for elite class people. If you fail o comply with the basic rules of investment, you should never try to lead your life based on the trading business. Assess your personality and know your requirements before you consider trading as your career
  3. Being the largest financial center in the world, this industry is supposed to have the highest winners, right? The commonly held beliefs get broken when we look at the traders who have succeeded in making profit. Only 5% of investors are successful and come out with a reward. The rest get slaughtered due to lack of experience, an early exit, fear of losing and other reasons. Has it ever crossed in your mind, what people do that makes them fail? This is what we are going to explore in this article as we try to understand the nature of Forex. From the beginning, this sector is changing. New trends are emerging, new volatilities are appearing and thus increasing the challenges. In this article, we will try to take a look at insight on into how evolution is crucial for survival. Just like the animal world, this market is also similar. The only difference is that traders fight with intelligence and skill rather than with anything else. No absolute method When a novice comes to deposit fund, they always hear one strategy is all they need. They need to work hard for a few months in the beginning. After the method has been developed, it is all about making money. The reality is far from expectation as it often falsely portraits. If one technique is used over a certain period of time, it begins to lose its effectiveness. Forex is smart enough to catch up with changes and brings new challenges. The old trick becomes outdated, stranding the investors who are using. As a result, coping with changes is essential to perform expectedly. If you are planning to exit a trade, first know when the time is right. The live transaction depends on precise timing that provides a reward. Being a moment late can cost a fortune. Before depositing capital, know if you are capable of spending a few hours every day understanding the volatility. It needs the dedication to strike success, no technique is perfect as the patterns keep transforming. Think outside the box You must learn to think outside the box. Use the price action confirmation signal to become a successful trader in the CFD trading industry. You might be a new trader in Singapore but this doesn’t mean you will lose money. Find the faults in your trading system and try to improve your trading edge. Never try to trade the market with aggression and follow a conservative trading method. Once you feel confident, you will see success in trading. The global economy is unpredictable Another reason why traders need to stay on their toes at all time is global finance. As the world becomes smaller, any news can affect the price of certain pairs. This impacts the performances in return which delivers poor results. The new regulation is being included, new virtual currencies are accepted. Bitcoin, one of the most popular virtual currencies, is gaining global popularity. A few brokers have started to accept bitcoin and allow customers to manage the fund with this cryptocurrency. All these innovations need to be considered when planning a strategy. Every time there is a trend, a little change needs to be made to adjust to the fluctuations. The pattern may repeat but not in exactly the same way. Uncertainty is the biggest adversity Even if a person managed to filter out the important detail for planning, he can still end up losing capital. This is the biggest enemy of investors. No person is safe from failure. An expert has the same chance as a novice in this industry while trading. People always talk about huge returns on investment but rarely speaks out about the dangers. It is the responsibility of depositors to know the risks and confirm if they can cope with this immense pressure. Every day will be a new challenge, and any distraction can cost a fortune.
  4. Everyone wants to lead their dream life. People always work hard to ensure their financial freedom. Without having sufficient money in life, you can’t enjoy the beauty of this world. Some of you might think money has nothing to do with your happiness. To be honest, this statements true to a certain extent but considering all the factors, without money, you can’t be really happy. You have some duties and responsibilities to your family members. To fulfill those duties, you must earn enough money. For this reason, many people in Singapore often prefer trading as their primary profession. Becoming a successful trader is a very challenging task. But if you follow the set and forget rule you can easily make a huge profit from this market. Let’s dive deep into the details. What is set and forget rule? Set and forget rule is based on a few principles. Being a trader, you will execute the trade and let the market do its duty. This simple technique of trading is known as a set and forget the rule. Most of the retail traders fail to make money even after finding great trades. They close their profitable trades too early with fear. When it comes to the losers, they stick to the market until the trades hit potential stop loss. Setting up the risk-reward ratio Being a currency trader, you have to understand the importance of the risk-reward ratio. You might learn the perfect way to use set and forget rule but this will not make you a profitable trader. You have to trade the market with 1:3+ risk-reward ratio so that you can easily cover up a few losing trades with one winner. Learn more about trade management skills to become a successful trader in the options trading industry. Never trade the market with a negative risk-reward ratio since it will force you to lose money. Riding the market trend Once you learn the set and forget the rule, you can easily maximize your profit by riding the market trend. To do so, you must learn a lot about the key retracement of this market. Most importantly you need to have precise knowledge about the key support and resistance level. Try to use the simple price action confirmation signal to maximize your profit factor in every possible way. Making money in the Forex market is easy. You must learn to ride the market trend with an extreme level of precision. Fine-tuning your trading system Those who use the set and forget rule often rely on a complex trading strategy. Being a currency trader, you need to rely on a simple method of trading. Set and forget rule is fairly easy and just by following the basic rules of risk management policy you can easily make a huge profit from this market. However, even after doing all the hard work, you will lose money regularly. But do you think you should quit this profession? The simple answer is no. Try to fine-tune your trading strategy so that you can win more trades. Once you start to win more trades, you will see the true benefit of the set and forget the rule. Testing new things Using the set and forget rule is one of the most effective ways to make money in the Forex market. As a currency trader, you might be able to make a decent trading system by trading the market but this doesn’t mean you will stick to that trading system all the time. You have to test new trading strategy and use the set and forget the rule. Try to diversify your trading method so that you can make a profit at any market condition. Stop thinking about quick profit and focus on long term goals. Be brave and trade the market with confidence.
  5. We all are human who is reading this article. So, it is clear that most of us will get the idea of basic human behavior. Except for those who are looking for a victim to fulfill your serial killing desires, there will be some good educations about the right management of the trading methods. There is about 4 main in the platform of currency trading. Specifically speaking, the traders will have to maintain the right kind of performance in the business to get some good thinking. There will not be any kind of improper executions with the trade. Because it will not let you in income. Moreover, there will be some good amount of loss from the trading capital. If it happens for once, it is okay. But with continuous losses, we cannot accept the right kind of business. There will be losses most of the time. And all of the trades will have to get in the most proper way to deal with the volatility. That is why you will need some good trading environment. And we are going to talk about how to manage that. Try to get some proper time for trading With the right choice over the trading method, it is possible to get some good trading time. We are talking about the long term trading processes. All of the traders will be able to get some good performance out of the business with some proper management. And in the process of trading, there will also be some good thinking of the management. We are talking about the right risk and profit margins. Those will be used somehow in the currency trading business for the stop-loss and take-profit. If we all can manage such a good performance in the business with some proper management, there is no way to deny the right performance. But without thinking straight about the proper Fibonacci retracement or the indicators, the traders cannot define the position sizes. And for that, there will be some good time needed. Only the long term trading processes will provide that. Be a confident trader Confidence has always been the key to professional traders in Hong Kong. Without having a strong confidence level, you can execute quality trades in the Forex market. You might have to lose a few trades in a row but this doesn’t indicate your trading strategy is bad. Losing or winning doesn’t really matter as long as you trade with high-risk reward ratio. Consider this profession as your business and try to create a strategic plan. It is good to let go of the trades mostly Most of the time in trading approaches, the traders can manage some good performance with relaxation. There is no need to get into the trading process every single time. The right performance in the business will have to be with some good thinking. And we also need to make some good money from the trades. There are no rules about working for just getting fun from the business process. The main concept of any profession is to make some money. Anyway, we can make some from Forex trading business by not going for a trade most often. Try to use the right indicators like Bollinger bands for some proper understanding of the volatility. They also identify the potential trends with common chart patterns like the head and shoulder ones. That way, the trading process will be safe and secure and also very pleasing. Make the right as well as solid plans In the business where there are too many chances of losing, we all have to focus more on planning. And most of the right effort will have to be given on saving the trading capital. It will be good for the right trading performance in the business. For some proper trades, there will be good income all of the time.
  6. Obviously, your dream would be to see yourself as a successful trader. Unfortunately, only a few traders like the Singaporean traders pursue their dreams. Why does it happen? Why do some traders fail to pursue their dreams? Actually, most naïve traders enter the market without any dreams they focus on generating money, so they end up being gamblers. To be honest, some traders purposely become gamblers and some others become gamblers unknowingly. Let us look at both the types. The traders who become gamblers on purpose are the ones who trade the market ONLY to make money. They keep on trading like gambling in casinos. They do not have rules, plans, strategies, or methods to trade rather they just trade. On the other hand, the traders who gamble the market unknowingly are the ones who become addicted to trading. They trade the market with the market knowledge and information but once they face profitable trades, they end up trading without a limit and it leads to failure. Addiction is one of the serious illness in Forex trading and it should be treated before it is too late. If a trader wants to become a successful trader in the long-run, he should be disciplined in trading. You should read the article to avoid seeing yourself as a gambler. Trading is not related to gambling. You have to take a calculative risk and find the right trade in favor of the market trend. In order to understand the nature of the market, you must learn the three major form of market analysis. Use these three sets of skills and develop a unique but simple trading strategy. Before using the new system, always backtest its performance in the demo account. Find whether you are gambling The hardest part of trading is to identify whether you are a trader or a gambler. Most naïve traders struggle at this point. They don't even know whether they are trading or gambling the market. Since you don't have to follow any rules or guidelines it is likely for you to get induced by gambling qualities. It is not like every trader's face this issue, most traders face this issue because Forex has a wide range of opportunities. They try to seize all the opportunities. If you are a trader you should act like one starting from the selection process of the online trading platform. If a trader doesn't care about being successful he wouldn't spend much time on the selection process. Anyway, you can easily identify whether you are a gambler or a trader. There are three major factors such as you would maintain a trading journal, trading plan and you would be discipline to stick to the plan. If you do these, call yourself a trader if not, call yourself a gambler. Find the way a gambler trades There are different ways a trader and a gambler trades. If you are a trader, you would take time to analyze, anticipate and read the market. You would think twice before entering into a trade. Above all, you would worry about your trading account. On the contrary, if you are a gambler you wouldn't anticipate, analyze or read the market. You would be just trading the market intending that any time you might make a profit. Understand the Forex market, it is not a casino, it is one of the greatest financial markets. Find the traits of a trader and a gambler You cannot remain in the market without knowing the traits of a trader and gambler. To mention roughly, if you are a trader you would have the traits such as trading strategy, trading plan, trading journal, trading edge, and much more. If you are a gambler you would have the traits such as no edge in trading, no trading journal and much more!
  7. Many people trade in Forex and they have many other sources of income. If you think this market is good for you because you can make plenty of money and you should leave the other market, you are wrong. This market is risky and you can lose your money anytime. Most of the people who have traded in this industry have many other sources of income and this article will tell you why it is not the right choice to make this your only income. You can think of the professional traders but they also have many other sources that you do not know. Most of these professional traders have invested their money in other places and they are getting an interest payment every month. If you are a common trader and think you should become a professional, you will still need other sources in your life. The new traders should always consider trading as their second source of income. Those who are trading the market as their primary source of income has intense experience in the retail trading industry. If you believe that trading is the perfect profession for you, you should take some professional training from the experienced traders. They will be able to give you a clear guideline so that you don’t lose any significant portion of your investment. Do you know why the majority of the traders are losing money in the retail trading industry? Most of them are trading with huge mental pressure. Before you consider trading as your full-time profession, you must have financial back up for six to eight months. This will give you mental relief which will eventually help you to take a better decision in the market. Trading CFDs is just like running a complicated business. You can’t afford to take steps without any organized plan. If you do so, you will have to lose money. Making mistakes at the initial stage is accepted but you should learn from your faults. Try to develop your trading skills and devote yourself to gain real-life experience. Concentrate on the basic rules of investment and trade safely. You can lose your investment any time The thing that makes this market risk is there is no way you can tell if you are going to make a profit in your next trade. Most of the people think they will make money but they lost their investment. It is common for the professional traders also. They also cannot win all the time and they have always their strategy developed in this currency trading. When you are thinking you will leave your office to concentrate on this profitable industry, also know you can lose your money. This investment that you are making is subject to market risks. This is why it is always advised to start trading with a small amount of money. It will keep your money safe and you will know you cannot lose much money. You need money to start again if you lost investment This is very common in this currency trading and many people lost their money. They do not stop and they open their account again. If you are thinking you will make this your only income source, how will you get the money when you lost it? You need to have another profession to make money that you can invest. If you are becoming professional, you can also give advice and give professional courses like the other traders for making money. This market is always risky and even the best traders cannot tell if they are going to make money in their trades. If you are doing office, do not leave and trade with doing offices. It will help you to keep your mood on. You will have lost money and if you do not have other works, you will be depressed.
  8. It is easy to say trading is a great career but it cannot be easily done. If you want to run your trading career it is important to be a dedicated individual. Only a dedicated person could manage himself as a successful trader. Most Australians are traders by profession because they are successful in trading and they have the dedication towards it. On the other hand, the naïve traders enter the market with the dedication to earn "MONEY" which is why they fail to remain in the market. Their intention is not about the trading career. They focus on becoming rich although it is impossible without dedication. Not only CFD traders but also other traders should not miss the factors that we mention below. These factors may lead you towards success. You can easily become successful through patience, hard work, dedication, and passion. Being a successful trader is very hard. According to the recent study, almost 90% of the traders are losing money. Do you know why they are losing money? This is because the new traders don’t know how to execute a trade at the perfect time. Surprisingly the novice traders always trade with a big lot at the wrong time. This is where you need to bring some change. Stop thinking about the profit factors of this market. You should be more concern about your investment or else it will be really hard for you to become a successful trader. Just like the traditional business, create a valid strategy. Start using a simple system to find profitable trades. Even if you lose trades, never become frustrated. Wait on the sideline until you get the best trades. You earned it, so hold onto it It is not simple to earn profits by trading. You should work hard and plan properly even if it is just one trade. If you had worked so hard to earn it, don't let it go. If you look at an Australian trader who focuses on CFD trading in Australia, you can clearly see how hard he tries to hold onto the profits earned. It is not at all easy. As a trader, you should never miss planning because it is like a map that keeps you on the right route. You should plan as much as possible and let the plans be super excellent. It is never simple to get into profitable trades, so if you come across any don't let it go. Moreover, when you risk a certain amount you should remind yourself that these were your hard earned money. You shouldn't risk carelessly. You should take time to evaluate whether you are ready to handle the comebacks of this. If you can continue to make profits you are on the right track. You are handling, so do it Similar to the above scenario, you are the one who is handling the trades, so you know when to walk out. If you anticipate any losses, do not think twice to walk out. You have all the liberty to make your own decision. In fact, liberty is the main reason to trade CFDs. You are no more obliged to listen to your boss's voice. If you are blessed with such a career you should know to protect it. None of the traders should miss enjoying their liberty to take own decisions. Most traders panic at the last moment and they tend to lose control of their grip, so it leads to failure. You know the value, so value it Majority of the traders don't know the value of reading and researching. Only a very few traders take time to read but it is something that all the traders should do. As naïve traders, you should never miss reading something about trading because it may help you learn something important. If you know the value of reading and researching, you would simply do it.
  9. In many articles, you would have read that 95% of the traders fail in trading but sadly, the internet is full of fluff and unreliable information. Even if it is true why do you need to care about that? If you want to become successful you should not care about the ones who are failing rather focus on the ones who are making an effort to win. If you look at the traders in the United Kingdom they have been trying and succeeding in trading because they don't focus on the negative information. If you want to become as successful as they are you should also think about the bright side of trading rather than the tantrum of negativity. Actually, the 95% static is not proved so it is just a general view so you need not think about it. There are naïve traders who have the potential to succeed yet they cannot reach the maximum due to this general statement. There are many facts that are psychologically proved when a person forced to believe on something it is very hard to take him out of it afterward. Likewise, most of the traders believe that they cannot succeed or the possibility to succeed as a naïve trader is low. Actually, it is not true each and every naïve trader can succeed in trading if he or she works hard for it. It is the matter of dedication. You are responsible for your trading result If you say that the market is manipulated and no one can make a consistent profit you are absolutely wrong. You have to understand the fact that losing is just a part of your trading career. As a new trader, you have to be extremely determined to learn about the nature of this market. Without having a clear idea about the structure of the forex market, it will be impossible for you to make a consistent profit. Always consider the longer term time frame and try to place a trade with a simple trading system. Never trade this market based on other people opinion. If professionals are making money, why can't you You should think positively in all the time. If professional traders can make money why can't you? They don't use any magical online trading platform or strategy. They are also using the same platform that you are using so what is the difference? You should understand the major difference between you and the professional traders. The major difference is that having a barrier in reaching the potential. The professional traders do not have a barrier to reach the potential or they did not consider anything as a barrier. They believed that they could be among the 5% of successful traders although it was just a statement. What you should understand is your thoughts matter a lot in trading. You should have positive thoughts if you want to become the successful trader and if you want to make money by trading. What is the major problem seen among naïve traders Actually, when considering the facts regarding why naïve traders find it hard to make money it is mainly because of the negative thoughts but then, there is another factor as well. Most of the naïve traders do not focus on the strategy so they just use some random strategy which is not the proper ways to trade the market. You should analyze the market risks before you enter into a trade. Believe that it is possible to make money You should not think that it is not possible to make money by trading because it is possible. You can easily make money by trading if you have the trust in yourself. If you lose hope you can never become a successful trader. So, like the professional traders, you should also believe that it is possible to make money by trading.
  10. vickymacklean

    You have been trading in this market and you want to know about the strategy that everyone is looking for in forex. This strategy is the strategy of the strategy, one can kneel down the world with this strategy and become the most successful traders this forex market has ever known. It is the strategy has been buried in the sand of Egypt and guarded by the pyramids. This is the forex Holy Grail and this Holy Grail is the way you can have your dreams come true in forex. After reading this article you may think we have hired a scriptwriter for our article. We have not and this is why many people cannot get out of this idea of Forex Holy Grail. This market is big and many scammers try to get the money by telling them about strategies that are to give them good profits. It is like what happened in the movie, “The Polka King” when the polka singer said he would give the investors 12% interest when the bank only gives 3. When you try to get this Holy Grail, you should read this article. It has not got any maps that can show you where is Holy thing is but can give your idea about this thing. Do you really want to make money in the trading industry? If the answer is YES, you need to learn a lot from the professional Aussie traders. Trading is not an easy task. You have educated yourself about the proper knowledge of forex. Most importantly you will have to learn to control your emotions. Making the same mistake will not help you to become a better trader. You need to ask yourself what type of trading system will suits you the best. Some new traders might not find the answer perfectly but this is really a simple job. You need to assess your personality to find your trading system. If you love to take the risk, scalping is the perfect solution for you. On the contrary, if you want to trade the higher time frame data following conservative trading method, you need to become a long-term trader. But no matter which trading system you follow, you must have to trade the market with low risk. All the successful Aussie traders in the options trading industry are making tons of money due just by risking a small portion of their account capital. There is no Holy Grail It is good that we tell this to you with no waiting that there is no Holy Grail in forex. It may sound hurting to you as when you type for forex Holy Grail, you will have many tab opened by your browser. It is not because you are looking for it but because scammers have them published on the web and they get to you when you look for this grail. You will not get this Grail in the form of a hammer like Thor, you will also not get this grail in the form of some magic wand like Harry Potter, but you will get this grail in the form of a very successful strategy. You will find that many people are offering you a book with a strategy in it that no one even knows. This is the strategy of the market that can be used in all trends and you can make the profit. If you think with some logic, you will understand why it is never possible. If cooking can be done with one ingredient, you would not have needed all the things that you had in your kitchen right now. Trading in forex is profitable with strategies that can use in these markets successfully, you cannot except that you will make the profit with a short long-term strategy in the volatile market. There is no Holy Grail and there never was. It is all a made-up thing by the scammers.
  11. Becoming a successful trader in the online trading industry is not easy. You have to work really hard to learn the basic details of this market. Most of the new traders start their trading career without educating themselves about the dynamic nature of this market. As a result of this almost 95% of the traders loses money in Forex market. But who are the 5% people making a consistent profit? These are the smart investors in the trading world. They know very well about the importance of proper trading education and they never take risk more than 5% of their trading capital. Many people in Australia have mastered the art of trading within a very short period of time just by the devoting themselves to the proper education of Forex. You need to learn how to stay on the sideline and wait for the most profitable trade setup. Never trade with your gut feelings If you trade this market based on gut feelings than you are going to blow your entire trading account within a short period of time. Sometimes you might have some big winners but this not the perfect way to trade this market. You have to learn to control your emotion or else you will start overtrading the market just after funding your trading account. Overtrading is often considered to be the most dangerous enemy of the full-time trader. It forces the traders to trade with big lot size and ultimately the traders lose a significant portion of their trading capital. By any means you have to learn to control your emotions or else you will never see the face of success. Success so hard that if you don’t love trading as your full-time profession than you will never overcome all the obstacles. A single trade enough to secure whole month profit Trading has nothing to do with high-frequency execution. If you can place the perfect trades in your online trading account than a single trade will be enough for you to support your whole month financial need. But if you trade with a very small trading account than the case will be a little bit different for you. Instead of placing hundreds of trades in every single month trying to find a single quality trade setup. Assess the risk factor and place your trade with precise stop loss. If the trades go wrong there is nothing to worry since you will lose a small portion of your trading capital. Losing trades are inevitable in Forex and you have to embrace it. Human beings are not programmed to accept the losing trades. To become successful in Forex market you have to reprogram your mind to deal with the frequent trading loss. Fundamental factors and high impact news release It’s very obvious that the new traders will get excited prior the release of high impact news data. But the professional traders always stay calm in such situation. They know very well that by taking aggressive mood nothing can be achieved in the Forex market. Instead of placing random trades you need to assess the fundamental data to get clear about the movement of the price. Some retail traders often say that doing the fundamental analysis is extremely hard but if you stick to your trading system than within a few months you can easily learn the pure basic of the fundamental analysis. Being a retail trader you have to overcome lots of trading challenge. Most importantly you will have to stay on the sideline to make a consistent profit by executing high-quality trades. Some traders often rely on the indicators reading too much but this doesn’t make any sense. Try to trade the clean chart and trade with proper risk management factors. Never take too much risk in any single trade even though you are 100% satisfied with the trade setup.
  12. In your trading career, you should be careful because there are many factors which you should consider. You should bear in mind that money is everything in the market. If you don't manage the money properly you will not be able to become successful in the market. If you consider the Singaporean traders they are successful in managing the money so they were able to carry out their trading career successfully. Without managing the money succeeding in Forexmarker will be just a dream. If you want to make your trading dreams a reality you should make sure to manage the money successfully. There are many money management concepts through which you will be able to handle the money in the market. You should have the trading skills, confidence, risk tolerance and techniques to trade the market. Each and every trader will have different methods of trading the market so you should make sure to develop your own method. You should try not to trade the market through another trader's technique because you will not be able to become successful by walking on another person's path. There are many ideas which you will be able to use in order to manage the money. You should not risk based on another person's view instead you should try to risk based on the individual's preferences. You should analyze the market and based on it you should make the decision. Let us discuss more on this article. You should not risk a fixed rate You should not risk a fixed rate from the account because if you do so you might face higher risks and lose more. You should not risk the fixed amount because it may cause you to wipe your account permanently. If the account gets wiped out you will not be able to bring it back to normal so make sure to trade carefully. You should be careful when selecting the online trading platform, dealing with the money, and many other things in the market. Some naïve traders lose in the market due to risking more than their affordable rate so you should be careful not to make such mistakes. If you don't manage the money in the market you cannot become successful because money is everything in the market. If you want to become as successful as the Singaporean traders you should make sure to follow the proper pathway. You should analyze leisurely Why do most of the traders lose money in the market? Because they fail to analyze the market before trading. The naïve traders do not take the time to analyze the suitable trading strategy or they do not take time to check whether the market is tradable. They just trade the market without given prior concern to certain factors. If you don't analyze the market you may lose a lot so make sure to analyze the market. You should know how much to risk How much to risk? You should trade demo accounts to know your performance level so when you demo trade you will understand the amount to risk as you have practiced on the demo account. Though we are saying money is everything but the beginners often misinterpret this statement. It’s not your money rather your investment. You need to learn to save your investment even during the extreme level of market volatility. Never place your trade if you not sure about the trade setups. It’s always better to stay on the sideline other than losing money in the online trading industry. Those who are successful have complete knowledge about money management system. Instead of looking for the Holy Grail in the Forex industry start working with your trade management skills. Maintain a trading journal and learn from your mistakes. In every weekend assess your trading history so that you can find your faults to improve your trading system. Be practical and trust your analysis.
  13. We know that this question has been in the mind of many traders since their opening of their accounts. This is very common as we see the brokers that they are always busy with their traders. They are giving them bonuses, they are giving them services and they are always happy to help you when you need. If these brokers are so selfless and they can give anything to their traders, how do these brokers make their money? This is a very good question and we would like to answer this with our article. This article will open your mind and you will see that your wonderful broker is not so wonderful after all. They are taking your money and they are also rich. Most of the time these brokers will try to make a profit with your money and you will never know. This is the ultimate article that will tell you how these brokers are making their fortunes with the traders’ money. Learn to trade first Before you think about your brokerage firm profit factors it’s highly imperative that you master the art of trading first. Majority of the traders are losing money in the online trading industry due to their lack of trading knowledge. In fact, many novice traders even don’t know about the Introducing broker trading conditions. As a currency trader, it’s your duty to explore all the details of your trading environment. If you don’t know about the advanced features of your trading platform then it will be really hard or you to make money. In fact, some brokers have specified trading rules. For instance, you might not be allowed to scalp the market or hedge any open position in the financial industry. Knowingly or unknowingly if you do so then you might even get banned from that broker. So it’s highly imperative that you learn about the Introducing broker trading conditions. There are three major sections which every trader should learn. The technical part will help you to find the profitable trades in the online trading industry whereas the fundamental sections will help you measure the overall strength of the market trend. Last but not the least is the sentiment analysis which you will develop over the period of time. Once you have these three sets of skills look for the best Introducing broker trading conditions to start your career as a full-time trader. Remember the fees when you place every trade? If you can remember, you are always giving some money to your broker whenever you are placing a new trade. This is the charge that brokers take from you as their fee and this is how they make money. This is not the only way to make money but this is one of the most common ways. we think that this is how they make their fortune but you will be surprised to know that these brokers have so many sources of income in Forex. They are no less than professional traders and sometimes bigger than professionals as traders have to trade with them in Forex. They also trade on their own account These brokers also trade on their own account. Just because they are a broker and you are trader does not mean they cannot trade the market. These trade way more than you and they are also successful in their career. They make a lot of money by trading in their own account. Their account is also large and the profit they make is also big. They also trade on managed accounts These brokers also trade on the managed accounts. Managed accounts are accounts that have been opened and invested by other people but the broker is managing that account. If they make a profit, the account owner gets a share and so does the broker. This is a profitable idea for traders who like to trade the market with money. If you think you cannot make a profit, just give it to some brokers who will do that for you.
  14. Although there are many naïve traders who use the social trading as a great tool there are traders who do not know to handle it. There are some naïve traders who do whatever the leader or the trader whom they are following says to do. They do not use their own skills in trading which is not at all good. You should trade the market with their guiding but not solely from their words. If making money in the market was easier everyone would have become millionaires by trading so bear in mind if it is hard you should give your best to succeed in the market. Actually, the real trader community is something very important for both experienced and inexperienced traders. It is important for experienced traders because they will be able to play many parts in the market if they consider social trading. So, the investors and the traders who have been achieving success in the financial market can showcase their success through the social trading websites. Sometimes with the lack of knowledge, you would have assumed that social trading sites are useless and boring but now it is the time to change your assumption. Let us read further to know the real goals of the trading market. What is the goal of social trading As we alluded above, if you have been having the wrong assumption it is time to wave ‘goodbye' because now we will explain the real goal of the social trading. To be honest, the real trader community is to help one another to become a better trader in the market. So, it is almost a genuine way of helping the traders to become successful in the market. As professionals will be guiding the naïve traders to trade the market it will be efficient and effective as well. If you love trading then social trading is the best place you can either share your experiences or trading strategies with another trader. Naïve traders can learn new strategies from the professional traders so it is a like a platform to help one another to trade better. One of the roles is becoming a follower If you think that a trader is trading successfully and if you believe that it could be beneficial you can simply follow the trader. When you follow the trader you eventually become a follower and a trader so the social trading makes you play many roles at a time. If you become a follower you will be able to watch the moves of the professional whom you are following. So, you get to shape up your trading by learning from the professional trader. If you have any doubts you can even clear it by seeking guidance. One of the roles is becoming a helper If you are an experience or successful trader you will be able to help the fellow traders in the real trader community. If you become a part of the social trading community you can share your trading methods and techniques so it makes you a helper and you can sharpen your methods even better. So, you should understand the whole social trading system successfully. There are many things that you need to master to become successful in the investment world. You might say that you will learn every bit of details of this market by reading books and articles. But in real life trading, you must get in touch with the experienced professional to know the precise way to execute high-quality trades in the extreme market condition. The experienced traders will help you to develop your trading career in an organized way. Never try to live your life alone as a currency trader. Try to meet with new traders and share your knowledge with them. Learn how they are dealing with their losing trades and share your secrets to success.
  15. Majority of the retail traders trades many types of currency pairs. The currency pairs in Forex are major and minor pairs. The major pairs are the most used pairs and they have US dollar in them. When US dollar is paired with another currency in Forex, we call this pair a major currency pair. When US dollar is not paired, it is called minor currency pairs. Most traders like to trade with the major currency pairs in Forex as US dollar makes up more than 80% of Forex transaction. When you are trading with major currency pairs, you need to know things that can make trading more successful. Trading the majors has always some added advantage. It's true that as a trader you will have access to all the possible trading pairs in the world but this doesn’t mean that you will have to trade every single one of them. The expert Aussie traders at Saxo always prefers major currency pair in their trading since they know their movement is relatively more stable. You can make a huge amount of money by trading the cross pairs but to do so you need to use a very wide stop loss. On the other hand, if you scalp the market then the synthetic pair will be extremely risky for you. You need to understand the associated risk in trading or else it will be really hard for you to develop yourself as a trader. Know the correlation of currencies Many major pairs in Forex have the correlation. When the price of one pair goes up another pair goes down. This correlation is very important for you. If you want to make money by trading with major currency pairs, you need to know the correlation. Many traders trade these market by knowing the price level of the currency pairs because they know the pairs are correlated. It’s not like that you have known all the correlation to become a profitable trader in the Forex trading industry. There are many other parameters which you need to follow to become a successful trader. For instance, if you don’t learn about multiple time frame analysis then it will be really hard for you to understand how this market really works. In fact, many trades will hit your potential stop loss price and go in favour of you. When you do the technical analysis make sure that you use the higher time frame data since it is one of the best ways to avoid the false trading signals. And always remember that being a beginner you should only trade the major pairs. Investment market Major currency pairs are used in Forex trading and they can be changed by investment markets. Forex itself is an investment market. When you trading with major pairs, know the news of investment market. Most of the time, these investment market can tell you if the market is going to be volatile. Forex fundamental technique is based on Forex news. If you want to get the most from your pairs, you also have to know the news of investment world. The price of minor pairs is not changed but major pairs can be changed as they are used in Forex more than other pairs. Traders like to trade the market and they know the news of the investment from different markets to keep their investment safe. If you know the dollar is falling in price, you will not buy the dollar. Practice hard Practice in Forex with your major pairs. One pair cannot give you money all the time. If you cannot make money, you can change the pairs and start practicing with new pairs. Trading with more than one major pairs can improve your profit growth in Forex. Traders know they can make money from pairs if they trade the market with strategy and analysis. Practice always when you try the new strategy with your pairs.
  • Create New...