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Oops… Wrong Forex Move! I Just Killed My Trading Account!
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What My 2 Year Old Son Can Teach You About Forex Trading
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No, I mean really, what the heck is up with all these Forex scams?
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Lessons From Nick Radge Successful Traders’ Traits and How You Can Apply Them
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Draghi Finally Mentions Something Substantial, Euro Down On ECB Rate Decision
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6 Hardest But Very Important Decisions for Currency Traders
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Beat the Forex Market in Breakout Trading
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Is it Possible to Trade the Economic News Events Successfully Using Range Breakouts?
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I Am Losing Money in Forex Market and So Should You
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Trading Forex with Proper Risk, Reward, Patience and Discipline

Oops… Wrong Forex Move! I Just Killed My Trading Account!

Foreign exchange trading can be a very profitable business. However, like any type of business, every gain is associated with some degree of risk. And some of the risks associated with Forex come with the signal or the account itself. For example, below is a sample of a trader’s experience regarding his account:

“Because we had to move our little $1300 account to an ECN and there was an adverse strong move last night we got margin calls. The signal provider went from 409% gain to 426% gain with almost all winning positions but yet we lost 35% of our account. So I’m pretty bummed about that right now. The only thing I can do now to keep trading is to open a demo account to pull signals to and then use your trade copier to convert the trades to micro lot sizes for our account which can’t stay ECN any longer.”

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What My 2 Year Old Son Can Teach You About Forex Trading

Do you remember your first drawing? Maybe your parents saved it and showed it to you years later after you had drawn it, but I bet you don’t remember when and how you drew it. How about your first bike ride? For most this will be easy to remember. What about first day at school? I cried and screamed for quite a long time when my mother left me at school that first day. 🙂

So how about any of those skills? Did they evolved over the years, decades?

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Lessons From Nick Radge Successful Traders’ Traits and How You Can Apply Them

In terms of trading, there is only one thing that you can control and that is how much you can afford to lose.”
Any business venture comes with the struggle of looking for the best way to profit. Even profitable businesses undergo continuous change in order to decrease their costs and increase their net profit.  Traders are not an exception. When it comes to trading, as cliché as it may sound, traders look for the “holy grail” setup. This might include the interplay of technical indicators, economic indicators, and even subjective interpretations of the market. Nonetheless, there is really no such thing as the “holy grail.”

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6 Hardest But Very Important Decisions for Currency Traders

The statistics tell us that most traders fail.  If you read a lot of the material online then this is what you are going to hear from other currency traders.  And if you look through a lot of the trading networks, like MyFXBook.com or ZuluTrade.com, and you start to look at a lot of portfolios from those types of sites, you’ll notice that most people do not trade consistently profitably. Currency trading is probably one of the easiest businesses in the world to get into.  You can begin trying it out for free and can even begin trading with most brokers for as little as $100.  But in my estimation it is probably one of the hardest businesses in the world to succeed in and do well consistently over the long term.

I’ve identified six things that many traders struggle with.  These are not all of the things that they struggle with, but it is a starting list of items that you might be able to identify with, and by working on, you can change for the better in your own trading business.

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Beat the Forex Market in Breakout Trading

A Forex breakout is the sudden price surge in a particular direction after a period of consolidation or sideways movement. It is one the most commonly used trading strategies because of the clarity and simplicity of execution. It is so simple that even new traders without much experience can trade the market profitably with it.

The trend is your friend until in bends, however, strong trending markets occasionally pause and move sideways. It may mean that the trend is over, or the market has only temporarily stopped in a consolidation zone before making any impulsive movements again. A breakout occurs when price moves away from its existing pattern. It can potentially change a downtrend to an uptrend, or an uptrend to a downtrend.

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Is it Possible to Trade the Economic News Events Successfully Using Range Breakouts?

There are dozens and dozens of forex news releases that happen each and every week.  Most of the releases will not move the market very much, but some can move a currency pair’s price by more than 150 pips in just an hour’s time. Sometimes these moves can even take place in just a few minutes’ time.

Here is a glimpse of a few of the starting news releases for the coming week.  This represents rather light activity compared to later in the week.  This first image is from DailyFX.com, one of the most trusted sources for forex news release information.  You can use news sites like this one to help alert you to coming news releases.  Many trading systems will advise people not to trade during major news releases because of the high volatility that is usually present during strong news events.

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I Am Losing Money in Forex Market and So Should You

When traders start out, they naturally want to win on every trade. But in reality, no matter what system you use, you will still experience losing trades. Many traders fail to understand that the profitability of a trading system is the result of many trades, not just one or two. Trading is like a journey, there are lots of ups and downs. In fact, there are more downs than winning periods for most traders. Beginning traders don’t think about losses during winning periods. But after a losing streak, they freak out and screw themselves up. Logical thinking gets thrown out the window and fear and self-doubt starts to creep in.   If you can’t accept that trading losses are inevitable, it would be tough to build confidence in any trading system.

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Trading Forex with Proper Risk, Reward, Patience and Discipline

You can never control the market, but you have the ability to control yourself and all other trading variables.

Trading the Forex markets is simply a game of probabilities and learning to find trades with high probability is the aim of the game. Understanding this fact that even perfect trade setups can fail should prevent you from having ups and downs with your trading. There is no magic formula to remove losing trades and even professional traders do lose money (sometimes even a lot). However, the best traders repeatedly make money while the masses continually lose money in the markets. The success these traders achieve is never the result of luck but patience, discipline, and experience.

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Copyright © 2009-2017. Rimantas Petrauskas | Terms and ConditionsPrivacy PolicyEarnings Disclaimer
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
The purchase, sale or advice regarding a currency can only be performed by a licensed Broker/Dealer. Neither us, nor our affiliates or associates involved in the production and maintenance of these products or this site, is a registered Broker/Dealer or Investment Advisor in any State or Federally-sanctioned jurisdiction. All purchasers of products referenced at this site are encouraged to consult with a licensed representative of their choice regarding any particular trade or trading strategy. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
Clearly understand this: Information contained in this product are not an invitation to trade any specific investments. Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to lose. This document does not take into account your own individual financial and personal circumstances. It is intended for educational purposes only and NOT as individual investment advice. Do not act on this without advice from your investment professional, who will verify what is suitable for your particular needs & circumstances. Failure to seek detailed professional personally tailored advice prior to acting could lead to you acting contrary to your own best interests & could lead to losses of capital.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.