It is not relevant. However, I was not successful. However, note that there are diverse patterns of education, and school is one of them. You can learn from books like the ones by Market Wizards and various strategies explained in these web pages.

I created an area for members in for traders in forex who are really willing to upgrade their learning level. Note that there can hardly be anything that can substitute experience.

Maintain a journal for trading and use it to monitor the observation each trading day. See whether the market respect resistance or support that you offered. If so, determine whether it forms a sell or buy signal. Over the next few months, you get the skill to recognize the pattern effortlessly. It may look simple, but the ideal will work. See Tabel above. No individual in the world is interested in sacrificing control of a situation.

On any matter, you like to have some control. Most people cannot determine it. What to do then? Such people try to bring into control by referring to the chart for hours as if the market is under their control — what is called telekinesis. When I started trading 10 years ago, I encountered too tough a problem to ignore. I remember so many nights; I went to sleep beyond midnight as I could not ignore my trade trends.

A significant lesson that I realized all these years is how to accept randomness. Therefore, visualizing everything is important. Even the most predictable trade may and are likely to fail. To go ahead of all others, look for the book by the late Mark Douglas Trading in the Zone.

I am happy to tell you about the book that was so helpful in the trade several years ago. Most people are in jobs. So, I had to turn up at meetings with all, and there were unlimited assignments to do. I had to abide by a lot of rules.

Another thing is that there is hardly any freedom. I reached work each day, aware of what I need to do and how to do it. Indeed, they can point to the fact that only a few people get success in Forex Trading.

While all others lose money. But they could not be able to explain why the most of the people lose money. Many people use to say that who is able to earn money by trading is a Forex Speculator. In the same way, they could say that a Successful Trader takes money from others without scruples.

So, who shows an initial interest about Trading gets immediately a negative review from people around him. In the same way, he could begin his Trading Journey thinking to play something like poker online. The result is a wrong way to start that causes negative Forex Personal Experiences. As you can think, this is only the beginning, just the first impact with Forex Trading being curious about it. Later there will be the long and hard work to understand how to become a Successful Forex Trader.

They have only the idea that soon Forex will give them a lot of money. Instead, they have still to understand how the market works and what is the Trading Process to earn money. Let me answer these questions. Of course, I am not to tell that in 1 year a trader becomes rich. Instead, what is relevant is the process or better the path that you follow to become a profitable trader.

In general, this is different for every trader. The difficulty of Forex Trading is in the understanding of the Price Behavior. This means that the work to do demands a consistent focus to understand the Price Action.

Besides, in what moves the Forex Market. Forex is the Most Liquid Market, so what moves the price are not the Catalysts in the Economic Calendar. In reality, the price progression in the main trends are the results of the Market Makers Orders.

Price Action is everything. If you understand the price action in the right way, never more you will suffer because of money. In a Trading Scenario, you recognize Pivots, Trends, Trends Rotation, and Price Consolidations. All these things show the Price Action and where is the money that pushes the price in a direction.

These are the most important things to earn money by Trading. They show the Supply Demand imbalances in the Trading Scenario and how these move the price. Indeed, the best way to trade is to look for the Trading Price Ranges where the imbalances are the strongest. This is how Supply and Demand Trading works.

When I want to look for a trading opportunity I always look for these strongest price ranges. In general, people look for candlestick patterns like engulf or harami patterns that mark imbalances. In my experience, even with a strong Engulf in a Supply or Demand Level, an entry point can carry high-risk. This happens because Supply and Demand Levels are reference points. But they are not the Trading Scenario. So, you need to understand the contest around Supply and Demand Levels.

Indeed, the Profitability comes with the experience and it takes a lot of time. Forex experienced traders could smile reading this question because they know the necessary struggle. If a newbie wants to become the Greatest Forex Trader, he must know that it is not easy.

But it is possible and everybody can do it. Trading is a business for everybody, without distinction. But only those with the right Patience and Strong Determination will be Successful. Even if you study every Forex Trading Book and Forex Trading Course, they never will be enough. They will not make you profitable. Indeed, they only tell how things work. But later you are the only ones that will have to apply what you studied. As it is clear, it is not so immediate as it can seem.

There will be a lot of mistakes, a lot of losses and a lot of frustration. This is why the most of the people fail going to blame anything and anybody. So, how to become a Profitable Trader? My answer is so simple as difficult to keep up for the long-term. It is:. Work hard, with patience insisting and persisting, going over any loss. Make this until you will become profitable in a consistent and constant way for the long-term.

So, you persist, repeating with discipline what works for you, improving time by time. The most of the newbies have already a job, others instead are looking for a way to earn money. What is important to consider is that Trading is a serious business. It is not a betting service, it is not a gaming service.

It is a job. This means that if you have not enough time and commitment this is not the right business for you. Because in this way, you will only lose money. If you have Patience and Dedication to work hard for the long-term, you will have chances to succeed. In this way, Trading becomes the right business for you. There are Full-Time Traders and Part-time Trader able to earn a lot of money. Their struggle is part of their Success.

Traders who consistently make a return trading forex would, of course, would give you a certain answer. Compare this to those who are still new to the markets and you get a different response. Similar to how one finds driving a car difficult the first couple of times, it is the same with forex trading as well. But the difference between the two is that while driving a car, you are bound to follow the rules.

With forex, traders tend to forget the rules. This is because when trading forex, there are emotions of greed and fear that rule, leading you to take on undue risk. This is partly due to the fact that forex trading has fewer regulations than trading stocks. Furthermore, the amount of capital needed for forex trading is also lower than in stocks or futures trading. Due to this, traders tend to leverage their positions and end up blowing their accounts in just a few trades.

Without understanding how the markets work and what the reasons are behind the market behavior, traders open positions. More often than not, the losses pile up rather quickly, to the point that their trading capital is completely gone. The urge to make money from the currency markets overwhelms logic, tricking traders into thinking that forex trading is easy.

We can blame this partly on the false marketing videos one gets to see on Youtube about how you can become rich with forex. In reality, traders fail because they do not give themselves enough time to understand the markets. Many traders think that they are ready just a month or two after practicing on a demo trading account.

Most forex brokers offer the opening of a demo trading account for free. The greedy ones perhaps not, but in most cases, you will find yourself able to get your hands on a demo trading account and start practicing.

But, it is not only about getting free access to a trading account. It is also about the new emotions haunting you when you first do get your mindset around how much you can make.

Usually, after making a few returns on a demo trading account, traders fall into the trap that they are prepared for the real markets. And that is dead wrong! It is not just about learning to trade forex but also understanding the reasons behind the market moves. Many traders start to learn about the technical indicators quickly and believe that this is all that matters.

It's a question that most novice Forex traders want to know before they get started trading Forex. At first, trading Forex may seem complicated and hard, but it isn't. That's not to say that trading Forex is easy. It is simple, but it isn't easy to master, and there are good reasons for that, which we'll cover in this article. Forex is an acronym for Foreign Exchange. It's one of the most liquid financial markets available to traders.

If you want to trade forex, check out eToro platform. Forex traders make money from the market price fluctuations with currencies. Trading Forex is not gambling. Professional, experienced Forex traders enter a trade after careful technical analysis of the price charts for the currency pairs.

They may also do fundamental analysis , checking the state of the economy for both currencies. The Forex trader then enters the trade. He sets a stop loss, so it is not a significant loss if the trade goes against him.

And he has a profit target where he will exit the trade. The Forex trading process sounds simple. How hard can it be to trade Forex profitably? We will outline why Forex is so difficult and the steps needed for how to trade Forex for beginners.

In conclusion, you will understand how difficult is Forex trading and what is necessary to master Forex trading. Then you can decide for yourself if you are ready to make a living from trading Forex. Do a Google search about Forex, and you'll return many websites telling you how easy it is to make money trading Forex. You'll see stories and photographs of Forex traders who have supposedly made it big trading Forex. The problem is, many of these sites want to sell you an expensive course on how to trade Forex or get you to sign up to a scammy broker.

But we're not here to do that. We are here to educate you on becoming a successful Forex trader and overcoming the difficulties of trading Forex. Read More: Can Forex Trading Make You Rich? The short answer is no. The long answer is yes, to a degree, but we'll explain. You do not need to be a mathematical genius to trade Forex. Having too much genius leads to over-thinking, something to be avoided when trading Forex.

What you may not yet realise is that trading Forex successfully is more about psychological skills. You have to learn to be disciplined and patient and override your natural instincts.

Novice traders can get overwhelmed by data. You may think you need a complicated trading system and dozens of indicators, but you don't. Simple is best. Airline pilots make the best Forex traders, that's a fact.

Our emotional system — the Limbic system — kicks in when we feel stressed, worried, or fearful, which can be the slightest physiological response.

Our brain has not evolved from the stone age, and this is where the problem arises when trading Forex. Forex is risky. The chances are you will lose money trading Forex. But, even professional traders have losses, but they have mastered the art of their winnings exceeding their losses. It seems crazy to equate losing a few dollars to a sabre tooth tiger coming round the corner, but your physiological response is pretty much the same. When your trade loses or profits start moving into loss, your body and mind respond.

Your heart rate elevates, and you may be holding your breath. You move closer to your computer screen, and you may be clenching your hands. Even your body temperature rises. Pilots face risk every time they cruise down the runway, and they train to manage that risk. In effect, you have to undo your human responses to risk. Read Also: The Risks of Forex Trading. Yes, many thousands of professional Forex traders make an excellent living from trading Forex. Well, yes, in a way. For one thing, they don't focus on money.

They focus on percentages. The objective for a professional Forex trader is to build up their working capital so they can withdraw weekly or monthly profits whilst retaining and building the working capital. We hear you. It doesn't seem a lot of money. In reality, many top Forex traders make more money than that, but they keep building their capital while controlling their risks.

A professional Forex trader does not gamble. He knows that the more capital he has, the more money he can make, and he takes care to protect that capital. Read More: The Richest Forex Traders In The World. Many brokers and sellers of Forex trading systems want you to believe that trading Forex is easy and you can do it fast. They will try to sell you the magic system, the failproof indicator, or the automated expert. Look, there is no fast way to succeed with Forex trading. Is trading Forex worth it?

Yes, it is if you are prepared to do the work and put in the time. We're not trying to discourage you because you can make money from trading Forex, but it will take time. Here's Joe, a Forex trader who has been trading Forex for three years:. I did everything right. I bought a How to trade Forex for Beginners course, read Forex books, and listened to everything about Forex. I kept searching for the magic bullet, the one thing that would make me profitable, but it never happened.

I took a few months off and thought about why I was failing. I realised I kept changing everything except myself.

That was a light-bulb moment. I got back to trading with a different attitude. I still lost money, but I no longer got emotional about it and always made it back. I trade a lot less than I did and only look for perfect setups. I don't get excited about wins either, and overall, I am calmer and less excited by trading Forex. Now, I know I will succeed at trading Forex because I stopped being in a rush. The trick is to take your time and commit to educating yourself about Forex.

Is trading Forex easy or difficult? Yes, both, depending on your approach. Spend months practising with a Forex demo account. When you have doubled your account with low-risk Forex trading , then you are ready to trade Forex live. Don't focus on the money; ALWAYS concentrate on becoming a better Forex trader. There's a secret to becoming a successful Forex trader, but you may not like it. Everyone assumes that the Forex lifestyle is exciting. You imagine the big house, yachts, holidays, top of the range sports car and tons of money in the bank.

The focus is on the material gains. Not that this is wrong, we all deserve a little luxury. But approaching the Forex market with this intent is a sure way to disappointment. This is why Forex trading is so difficult. Expectations exceed reality. The secret is that successful Forex trading is boring. Well, yes.

Do you remember earlier we discussed the survival mind? When you are excited, passionate, or emotional, your logical mind is clouded. You make poor decisions based on feelings and emotions. The pro Forex trader makes decisions based on what he or she sees on the chart - nothing more, nothing less.

What isn't dull is your success. Can you get rich by trading Forex?

You create rules to protect yourself from your own impulses and emotions. The less you care about it, the more you are likely to make. Is Forex Trading Legal in Canada? What is important to consider is that Trading is a serious business. This means that you are not ready to trade with the money that you are investing for now. Don't focus on the money; ALWAYS concentrate on becoming a better Forex trader. The problem is, many of these sites want to sell you an expensive course on how to trade Forex or get you to sign up to a scammy broker.

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