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How to succeed in the Forex market? Succeed in the forex market.

Now Forex has become very common and popular among ordinary people due to its availability. The Internet is full of loud and tempting headlines about high earnings in Forex. Beginners in search of additional income are increasingly asking themselves the question - can they learn to trade without proper education and experience, and how can an ordinary person succeed in trading?

Many people, do not bother to learn the basics, are eager to fight and immediately drain their deposits. Before you start trading with real money, you need to learn and understand the initial rules of trading. This is not difficult in the age of high technology and the Internet. Therefore, answering our question - yes, an ordinary person can also earn big money on Forex along with professionals. You just need to study the theory, choose a reliable broker, draw up a trading plan and develop a strategy. And as always, you need to be very patient and persistent. This is the only way to succeed not only in Forex, but in any business.

The path to success in Forex

Forex is a global currency exchange where currencies are bought / sold different countries peace. The Forex exchange operates around the clock for five days a week, except Saturday and Sunday. There are three main advantages of working on Forex:

there is no need to sit at the workplace for 9 hours at the office, you can work remotely from anywhere in the world.
the trader himself fully controls the profit and loss, which means he can plan all the risks in advance.
flexible work schedule allows you to devote more time to family and personal life.

Really make money on Forex, the exchange has existed for more than a dozen years and has earned respect from market participants. The amount of your earnings will directly depend on the size of your starting capital. The larger it is, the higher the profit. Naturally, with 100 dollars in one day you will not be able to earn a million, only hard work and composure will help you with this!

Novice traders will have to be patient and put in a lot of effort. Education is the foundation of your trading career. Therefore, do not be lazy and attend courses, read literature on the Internet, communicate with experienced players on forums, attend webinars. All of this is now available online.

An ordinary person should not immediately open a real account, for starters, a demo is enough. Here you can get acquainted with the market, study the trading platform, test the strategy. And then you can start real trading.

A very important step towards successful trading is choosing a reliable broker. Perhaps this is even more important than the ability to trade. Since if a scammer comes across who then refuses to pay you money, then even with successful trading you will not be able to withdraw earnings.

It is worth paying attention to the performance of the platform - so that there are no slips and freezes. Poor quality brokers will have a bad effect on the success of your trading.

When choosing a broker, pay attention to the following aspects:

the experience of the broker - the more he is, the more reliable.
availability of licenses from regulators in the country in which the broker operates.
round the clock technical support.
variety of account types, tariffs and trading conditions.

For a beginner to succeed, it is not necessary to have a specialized higher education. Millions of people around the world have learned to trade profitably on their own. You are not born a trader - you become a trader. Trading psychology is a very important aspect. This is a whole science that needs to be learned. Discipline is very important in trading, so you must develop this quality in yourself from the very beginning, otherwise you risk failure. Trade coolly, without emotions. Closed the deal in the red - forget about it and trade further. Closed the deal in the black - forget about it even faster. Otherwise, greed and euphoria can overshadow your mind.

After you need to draw up your trading plan and strategy, on the basis of which you will conclude transactions. Now on the Internet you can find a great variety of strategies that are ideal for beginners. They are easy to understand and do not require deep knowledge of technical and fundamental analysis. With them, you can start your acquaintance with the world of Forex, accumulate your capital, and then, continuing your education, move on to larger transactions. Your trading plan should include: important points, as the amount of the transaction, the possible loss per day allowed for you, and so on.

And last but not least. Every day before the start of trading, take at least 5 minutes to analyze the market from a technical and fundamental point of view. Then you will feel the market and make profitable trades.

This is how you start your journey of financial independence. But do not forget about training and practice, because only they will allow you to succeed in Forex!

Hello dear readers! Have you ever thought about why some people succeed, while others cannot even spread butter on bread? Of course, you can blame bad genes, lack of opportunities, an unfriendly environment, or generally blame the surrounding people for everything. But it seems to me that this is not the case, I will try to show this from personal experience.

Naturally, we are not talking about people who do nothing. To achieve something, you need to move somehow! :-) We will talk about ways, in particular, about ways to approach success in forex. Why does someone spend all day at the screen, testing strategies, completely focused on trading, and as a result, no results? It happens, and in this mode you can spend whole years! And vice versa, devoting 2 hours to trading after the main work, the profit seems to fall from the sky!

Earlier, I professed the first approach, made trading the only goal, except for this I was not interested in anything, I threw all possible resources to achieve the result (money, time, effort, emotions). Perhaps it was youthful maximalism that passes with time, but now my opinion has changed! Now I think there is a more efficient approach.

At the moment I am engaged in several areas at the same time, developing in different areas. At first it was difficult to “switch”, but this method has more potential and increases efficiency. I am sure that if I had followed it from the beginning, I would have learned to trade much earlier! Why? More on this below.

The constant desire to develop in several areas leads to systemic success in everything, even if the main goal is trading, I am convinced that in this way it will be possible to get to the main goal faster. In the end, doing one thing all the time is just boring ...

Why does diverse activity lead to systemic success in everything?

Planning puts everything on the shelves, you know in advance what needs to be done, so there is no panic. Planning gives a clear instruction to your brain, and during the day it can focus on the tasks to be solved, and not on thinking about how to quietly pick up a child from kindergarten with a backpack of a fish! :-) I'm sure if a person has a lot to do, he willy-nilly come to planning.

You may not be able to devote the whole day to trading, but you will spend a couple of hours that are allotted for studying the markets more efficiently, you will appreciate every minute, and you will not sit in contact, instead of testing the TS (important).

For several years now I have been keeping a notebook in which I write down the upcoming affairs. I confess that I do not always keep notes, but the most important thing that needs to be done, I put it on the list all the time, this allows me not to forget what happened.

I'm so used to writing everything down that I can't imagine my life otherwise! I noticed that I spend the most effective days after drawing up a plan, without it laziness overcomes, some excuses immediately arise and similar nonsense.

In general, if there is a lot of work on the horizon, then there is a need for planning, which in turn leads to more efficient time management, and efficiency increases results in all areas!

2. Now I am reading a book on child psychology, its authors say that it is very important to know the feeling of success and self-confidence from an early age. According to one version, this can be achieved by "deceiving the child", that is, instilling in him that he is well done, even when in fact he is not well done. For example, he plays football badly, and you tell him: “Cool, you are a great football player!” It is calculated that the child will form an internal opinion that will allow him to be confident in himself in the future and not give up in difficult moments.

According to another version, you should not lie to the child, it is more productive to help him find a way out of the current situation, to suggest how to solve the problem. For example, to train additionally, to work out blows, etc. This method will teach a person from an early age to look for ways to overcome difficulties, which will lead to success in the future, that is, he will learn to look for solutions himself.

This is another plus from activities in several areas. Managed to deal with problems at work, ok, it will be deposited in your head. We were able to meet a girl that you liked for 3 years, great! We managed to win the regional competitions - great - we became stronger.

All successes "remain in your subconscious" and lead to new ones! For example, something does not work out when testing a vehicle, but you will not give up and whine, you will look for solutions, try various options and sooner or later you will get what you want!

3. Various activities provide an opportunity to look at problems from a “different angle”. And this is so necessary! The brain uses the information you give it. If you trade all the time, read books on trading and attend webinars, you can get into vicious circle when your development stops at one point.

The brain works in a completely different way when trading in the morning, then main job, then training, some business and trading again in the evening. There is no getting used to the same type of activity, any task is something new for you!

In the literature, there are often recommendations “not to trade”, take a vacation for a month, for example. It works, your head for such a time will stop thinking in the same categories, it will “switch”. And the old tasks that seemed unsolvable will turn out to be simple. So why bring it up?

Of course, all of the above is my personal opinion and does not claim to be an indisputable truth. If you think otherwise, I will be glad to meaningful comments.

I have a couple of examples to support the theory.

Activities that help develop success in forex.

In addition, with an active life, you will be more likely to be in the sun and fresh air, which will benefit your health! :-)

In general, I am campaigning for a variety of activities! It develops you in several directions, teaches you how to cope with difficulties, and as a result, this approach will be more effective in achieving forex success!

That's all, thanks for your attention!

P.S. How are you doing?

Few people have not thought about how good it would be to earn a lot, combining it with the opportunity to travel. Such a well-established pattern of behavior of a successful person, unfortunately, is practically unattainable for ordinary citizens of the CIS countries and the Russian Federation, who, for the most part, are tied to their main workplace and receive insufficiently large salaries in order to rest more than once a year, and even then ... To to fix this, many today are trying to succeed in the Forex market, which just offers to achieve the standard of living desired by many.

We will tell you about how to achieve the goal and what you should pay attention to along the way to it in the article below.

General description of the beginner's actions

Schematically, the algorithm of actions for everyone who decides to open an exotic profession of a currency trader for themselves consists in the following steps.

Choosing a suitable Forex broker that pleases with trading conditions, belongs to the category of reliable ones, can help with bonuses, and so on.
Opening a demo account is a mandatory step from which you begin your direct acquaintance with trading. In no case should you immediately start with a real account in order to prevent offensive mistakes due to ignorance, which will lead to serious financial losses.
Finding and testing a suitable trading strategy.

Having completed these three points, the trader moves from the category of a beginner to the category of experienced speculators, where he will continue to improve his skills, search for new trading methods, and so on. At this stage, it is already important to learn not to lose money, gradually increasing your experience and deposit, which over time will allow you to get the status of a professional trader.

Finding a Good Trading System

Today, there are a huge number of trading systems in the network, and many of them, it must be admitted, are quite accurate. You should not think that since they are distributed for free, then you cannot earn money on them, but it is better to spend the n-th amount of money to buy some kind of Grail. In fact, to make money, a trading system that will give at least 60% accurate signals is enough, especially if it enters with a classic risk/reward ratio of at least 1:2.

Considering that the initial probability of this or that development of events in Forex is 50/50, then any normal TS is enough to earn. However, there is one caveat. Often, profits are prevented from accumulating by the trader himself, who interferes with the algorithm of the TS or does not fully comply with it.

Work on yourself

In addition to understanding the general algorithm of actions, discipline is extremely important. A good trader is a disciplined trader who resists the temptation to enter a trade if the entry conditions are almost met, does not get greedy by over-holding the position, and does not give in to fear when the price pulls back against him.

It is extremely important to 100% follow the rules of the chosen trading system, since only in this way can you effectively work on mistakes, draw the right conclusions and improve your trading daily.

Proper money management and risk control

Many people think that personal qualities and a good strategy are enough. In fact, yes, but with one caveat - if the trader understands and correctly uses risk management. Before you succeed in the Forex market, you must learn how to correctly assess risks and calculate money management so that the deposit can withstand a series of unsuccessful transactions without any consequences. That is, the recovery factor should be high enough to make it easy to catch up.

Without the ability to calculate the correct volume for entry, taking into account the size of the stop, the size of the deposit and other variables, the trader will never succeed, therefore, when testing the strategy, you should always pay great attention to the choice of working volume and not allow it to be thoughtlessly increased, especially after losses, when the psyche is unstable and one can easily succumb to tilt.

Having studied the above, it should be clear that to achieve success, no fancy actions are required, since the path to development in the Forex market is simple and straightforward. But at the same time, few can conquer the market and achieve their goal. First of all, this happens due to the fact that a trader is not an easy job, but also a lifestyle, a way of thinking and acting.

How to Succeed in the Forex Market? An exclusive Forexone blog article about 20 tips for a novice trader to succeed and make money on the currency exchange.

Has caused losses for a very large number of inexperienced and undisciplined traders over the past few years. That is why you want to understand how to succeed in the Forex market, so as not to become one of the 95% losers who lose their own money.

Risky and dangerous trading includes gold trading (XAU). ? This question is asked by many novice traders, but gold is a difficult tool to trade. We do not recommend that you trade gold on the currency exchange if you have little experience in trading. And now let's move on to the most important tips for a novice trader.

We will look at trading tips on how to succeed in Forex that will help you avoid trading disasters and maximize your potential in the currency trading market:

Explore yourself and your capabilities.
Carefully calculate your risk tolerance according to your needs in the market. Simply put, you must identify your risks and opportunities. This is what your risk management in trading will consist of.
Write a detailed plan of your goals and don't back down not one step away from your plan.
You must become a disciplined trader. Only through discipline in trading can you be successful in the long run.
Choose the broker you work with wisely.
The selected broker should fully suit your wishes and your trading style. If you want to practice scalping, look for brokers that have low commissions.
Choose your account type and leverage rate
Account type and leverage must fully meet your requirements and expectations. Don't forget about money management.
Start trading with small amounts and gradually increase the amount of money on your account in proportion to your profits.
If you can't grow your account with income, then there's no point in constantly pouring funds into your account just to waste money. Of course, on initial stage- this is an integral part of trading for beginners. But if you need to replenish your trading account for the 5th time in a row, you should think about the expediency of playing on the stock exchange.
Focus on one pair of currencies.
Increase the number of currency pairs as you improve your trading skills. Without this condition, you will not be able to earn money. Learn to trade at least one specific currency pair.
You must understand every action you take.
Every trading and analytical decision you make should be informed and rational, not made on the basis of emotions and impulses. You need to analyze each completed transaction.
Do not increase the size of a losing position.
A common mistake of beginners is to unreasonably “top up” a losing position. Averaging or martingale are slippery trading strategies with a high probability of risk and are extremely contraindicated for novice players on the stock exchange with a small deposit.
Tie down your emotions– they will not help you while trading in the Forex market.
Emotions do not just negatively affect any one trade, they destroy the entire trading system. We are all people, but when you open a trading terminal, you must strictly follow your trading algorithm, regardless of what happens in the market and with your open position in particular.
You need to keep records to study your successes and failures, which will help you constantly improve your trading system.
Without a trader's diary, you won't be able to evaluate your trading and find mistakes. You must document each of your closed trades. The trader's journal is the archive of your trading history, without which you will have no future.
Automate your trading in the currency market as far as possible.
Having found the regularity of the currency market on which you earn, you must algorithmize or automate this trading system. This will bring you more money than manual trading.
Do not rely on Forex robots, miracle methods and other useless ways.
Even having found a pattern on the chart, you should not completely rely on advisors and robots. There is no single universal scheme for how to succeed in stock trading. The market is volatile and the pattern that you brought to automation may stop working the very next day.
Keep your trading plan and analysis simple in understanding and explanation, and then it will be much more useful.
Don't complicate your trading. In fact, everything is not as difficult as it seems to many beginners. Yes, trading experience is required to understand this, but this does not mean that your trading system should be extremely complex at the beginning of your trader's journey.
Don't Go Against the Markets unless you have the patience and financial fortitude to stick with the long term plan.
The biggest money is earned by large traders when the price movement vector changes. But you are not a big trader. Never try to go against the trend - you will not have enough ability to determine these changes in advance, nor your trading deposit, to stand firmly in a position when everyone is making money on a trend move.
Forex is based on probabilities, which provide you with a variety of profit opportunities.
Remember: no one can predict the price movement in the future. None! You will always be only 50% right. Your task is to find logical reasons for where the quote should move in the future.
Be meek and patient. Don't fight the markets.
Learn to work in the direction of the market and you will be successful. Learn to identify the trend. It just sounds very simple, but in fact, only a small percentage of novice traders can determine the price direction vector. Why? Because the trend is not always the same on different timeframes.
Be realistic about your expectations.
Follow your own judgment. We recommend that you focus on an annual return of about 25% if you are a beginner. This means that if you made $125 out of $100 in a couple of days, be prepared for the fact that by the end of the month you will have $102 left. More than that - it will be a success, because you have not lost money! It may sound funny, because you did not come to Forex for the sake of $2, but believe me - this is a very important step for making big profits.
Master the basics of money management, which will help you effectively manage the funds from your account.
Without proper and prudent trading capital management, you will only be in the market for a few trades. You must be able to calculate the cost of the lot, determine the optimal leverage for yourself, which will not destroy your trading account instantly when the market goes against you. It is also necessary to include risk in your trading deposit. Your cash deposit with the broker should be sufficient for your trading strategy so that the maximum loss per trade is no more than 2%. This 2% should be your stop loss. This is your airbag.
Learn Forex currency pairs, their fundamentals and various technical factors that affect price fluctuations.
Fundamental and technical analysis are 2 types of analysis that govern the entire Forex currency market. Fundamentalist traders prefer to follow economic news exclusively. Technical analysts use only indicators, advisors and chart patterns on currency quotes charts. We encourage you to take a holistic approach. It may not be as deep in each type of analysis, but in general it will give a more objective picture of the situation with a particular currency pair.
Do not give up!
95% of traders lose their trading deposit. This is a fact and we are directly telling you about it. Moreover, there is not a single very successful trader who has not lost several trading deposits. The foreign exchange market will harden every trader who wants to bite off his piece of the money pie. The difference is that successful traders are extremely stubborn.
You should see not the reason for the defeat, but the opportunity for earning. Opportunity to become financially independent. Everyone has losses, but this is an occasion to learn useful lessons from them and improve your strategy. If you turned out to be wrong in the past, you always have the opportunity to correct yourself and this will not only strengthen you morally, but also bring money if you correctly analyzed your loss. Remember: your mistakes are your potential victories!

Every experienced trader and investor reaches a point in their development, after which working with finances becomes simple, and profitable speculation and investments come out as natural as breathing. But if you look at how many smiles at success, then you have to state sad statistics - 5% of Forex beginners reach the level of profits, allowing them to forget about material problems. Let's put aside the whining of those who are not initially ready to work in the financial markets, and pay attention to the category of beginners who are being prepared by hedge funds, prop trading and other companies. These guys get professional education and know that it is possible to succeed in the stock markets and Forex, but only a few come to him.

So what's the deal? Why do some trade and succeed, while others, after unsuccessful attempts, are forced to look for a new field of activity. Below is a detailed description of the points, the understanding and observance of which guarantees success, but only under the condition of discipline and control of emotions, otherwise it is not worth trading on Forex.

Three key factors

There are three components due to which a trader reaches a stable income:

Strategy with positive expectation;

The right choice of volume in accordance with safe risk management;

The psychology of a trader.

The average trader ignores one or even a couple of these factors. But even good traders make mistakes, hindering their development. How this happens is described below, where attention should be paid to the psychological reaction when working with a strategy and choosing trading volumes.

How to use the strategy

When choosing a trading strategy, it is considered sufficient if it gives more profitable signals than unprofitable ones. If there are 60% positive signals and 40% negative signals, then this is a system with a good mathematical expectation. It would seem that this is success, but no, Forex traders manage to drain deposits even when working with such a trading system. The question naturally arises why?

The problem is psychology. We are taught from childhood that we need to be right in 9 out of 10 cases. If the child is right in 6 cases out of 10 (the same 60%), then he is labeled “loser”. It seems cruel, but that's how the education system is built, instilling this reflex through punishments in the form of poor grades and ridicule from peers.

The desire to be right is instilled at the level of instinct. This plays a cruel joke on traders who pay money for this reflex when they pull moose, rearranging stops or averaging. At the same time, a trader who does not have such a hidden complex can make millions on strategies where there is only a 30-40% chance of successful transactions! This is in the prevailing case of trend trading systems, where the profit potential is many times higher than the losses.

It turns out that the success of Forex trading accompanies if you enter the transaction correctly and exit it in a timely manner. If you look at the statistics of beginners, they are fixated on finding the moment to enter, but when managing positions, they make a lot of mistakes, often closing incorrectly. In some ways, they are like a drunk driver of an expensive foreign car, the car is either good or bad, which in most cases ends in disaster.

The problem is exacerbated by various unscrupulous courses that beginners are so greedy for. The negative impact of such "study" is that traders are shown examples of successful transactions, where the entry conditions are ideally observed. Moreover, the feet are usually not given enough attention, simply indicating that they should be. But when a trader is forced to watch how a loss is fixed, then this causes him great mental pain. The protective reaction of the body in such cases will be to delay this unpleasant moment. This is how losses drag on, which lead to irreparable losses.

Reasons for incorrect closing of transactions

In order to assess the level of your preparation for right action with a trading strategy, it is enough to answer two simple questions:

Which is better: lose 900USD with 100% probability or agree to lose 1000USD with 95% probability with the condition that at 5% it will be possible to avoid losses altogether?

Which is better: getting 900USD with a 100% chance, or accepting a 95% chance of getting 1000USD with a 5% chance that you will not be able to make a profit at all?

According to statistics, in the first case, most of the respondents preferred to take risks and agreed to a 95% chance of losing 1000USD, counting on a 5% chance to avoid a loss. This is wrong if we are not talking about a one-time event, but about stable and long-term work, since the mathematical expectation of average losses in the future with this choice will be 950 USD! Therefore, you need to adhere to the golden rule of trading and cut losses immediately, and not expect that you might be lucky and the market will turn around, allowing you to avoid losses.

For the second question, most of the interviewed traders chose the guaranteed 900 USD. As they say, a bird in the hand is better than a bird in the sky. But this is wrong. The mathematical expectation of profit with a 95% probability of 1000 USD allows you to expect an average of 950 USD of income, which is higher than the proposed 900 USD. That is, here it is more correct to let profits grow, and not to miss what the market gives.

Every good trading system provides that the stop will be short and should not be extended, and profits should accumulate, making up a percentage of possible losses of at least 2 to 1, and preferably 4 to 1 and higher. Options 1 to 1 and 2 to 1 are used for scalping, but these are difficult strategies that require endurance and a certain psychological character. Therefore, it is better for beginners to wait for the opportunity on the daily timeframes, where the signals are clearer, and the profit is in the hundreds and thousands of points!

Correct determination of the working volume

At all times, a trader's path to success and profits in the Forex market has been directly related to competent risk management. But it’s not enough just to choose the volume, calculating it from the deposit, you need to be able to control yourself, avoiding disruptions. Most often, traders make three critical mistakes.

1. Small deposit. Recently, brokers allow you to open a trading account with almost 1 USD. Therefore, some beginners try to work with a measly couple of tens of dollars. Unfortunately, adequate risk management, if we are not talking about a cent account, is impossible in this case. So it should be understood that this style of trading is just a game of all-in and has nothing to do with quality trading.

2. The problem with the choice of volume. Despite the fact that much has been written about the importance of risk management, some traders simply do not know how to calculate, not knowing how to calculate the acceptable percentage of risk. Recall that in the classical interpretation it is 2%. That is, if there is 1000 USD on the account, then only 20 USD is allowed to be jeopardized in one transaction! If the strategy allows a stop loss of 20 points, then with a risk of $20, the volume of the trading position should be 0.1 lots. If the stop is longer, for example, 40 points, then you need to reduce the volume to get 0.05 lots. Only with such a cautious approach does a trader painlessly survive a series of unsuccessful trades, easily recovering losses and earning in excess of them.

3. The third problem deserves a detailed description and it is related to excitement. Even many traders who understand the soundness of the case for cautious trading still sin and allow themselves to falter. The situation usually develops as follows. Realizing that the strategy gives, for example, 6 out of 10 profitable trades, the trader concludes a trade for an adequate volume. The trade ends with a stop and the trader suffers a loss. The situation is repeated a second and third time. Then, on the basis of stress from loss, destructive thoughts penetrate the head. For example, the strategy gave 3-4 unsuccessful deals in a row, which means that the probability of success increases, since there are more profitable signals. Therefore, you can take a chance and increase the volume to cover all the minuses and fight back!

The appearance of some situation that is perceived as very correct, and therefore guaranteeing profit, can also lead to such conclusions. But in this case, you need to remember - anything can always happen in the market. He does not owe anything to anyone and a strategy that gives 6 out of 10 profitable signals cannot ensure the appearance of a successful transaction after 4 unsuccessful ones.

To think otherwise is a crime in relation to your deposit. This is not the way traders think, but gamers who perceive working on Forex as a variant of a casino or slot machines. A real speculator always follows the rules of his own system, because only in this way he provides himself with the conditions for development, improvement of the trading approach and profit in the future.

Such a simple trading psychology will allow you to succeed in the Forex market, the secrets of success are only in the right attitude towards trading and yourself in it. With such a conscious approach, the issue of achieving professionalism is a matter of a short time.