Many traders prefer swing trading because they can profit from both trend following moves and subsequent counter-trend corrections. They might draw trend lines based on observed sequences of highs and lows. This helps them identify the underlying trend and observe the existence of chart patterns, as well as identify channel breakouts when they occur. They might also overlay price charts with short and long term moving averages in order to find crossovers that signal the short-term trend in the exchange rate is changing relative to the longer-term trend. In such systems, when the short moving average crosses above the longer moving average, then that generates a buy signal, while when it crosses below the longer term moving average, it generates a sell signal.

The forex market often display notable trends due to underlying changes in the business cycle and benchmark interest rates that reflect the monetary policy set by central banks. If a trader identifies such a trend, they generally plan on taking a position on a correction or counter trend move within the overall trend.

They then can plan on riding the market in the direction of the trend for as long as they can until they are stopped out via their trailing stop. Trailing stop loss orders are an effective trade management tool for trend traders, as it acts to move or ratchet up in the direction of the trend accumulated profits, so that it can be protected from sudden pullbacks in the market.

Not all of these strategies will feel right for every trader depending on their personality, so you might want to try several of them out to see which one is the best fit for you. The amount of money that forex traders can make depends on many factors — whether they are employed by a financial institution, a fund management firm, or if they are a self-employed retail forex trader with extensive experience, or a novice trader just starting out.

Generally, professional forex traders who are working for a bank or other financial institution generally earn a salary plus a performance related bonus from their employers. Their trading activities tend to revolve around market making, scalping and day trading, although some do take longer term strategic positions.

Due to the benefit they experience by acting as market makers to clients who deal on their spreads, most bank traders are quite profitable, or they rather quickly find themselves out of a job. Professional fund managers who trade foreign exchange with funds under management will also typically receive a salary from their firms. Nevertheless, unlike bank traders, they might have a bonus calculation to determine their total earnings that is more explicitly expressed as a certain percentage of profits actually earned in the funds they are managing, such as 20 percent of profits for example.

Although some fund managers do take short term positions , most of them tend to take longer term positions based on a proprietary trading strategy or system. They have the support of their firm and can allocate money into developing winning strategies and automating their trading plans.

Also, the large size of their trading positions can often move the market in their favor, at least initially. In contrast to the professional traders mentioned, most retail forex traders are usually self-employed when it comes to their trading activities, and so they only make money if their trading efforts are actually profitable. Some especially good retail traders with a strong track record can also earn money from the associated profitability of their trading followers if they allow others to follow them using a social trading platform.

Most retail forex traders typically only trade in small sizes, so they cannot move the market like fund managers. Also, they are forced to pay away the bid offer spread each time they deal, so they do not share the ability of market makers to profit from quoting prices to clients. Perhaps as a result, estimates of the profitability of retail forex traders is actually very low, with some sources reporting that as many as 90 percent of private operators fail to earn money in forex trading.

Professional forex traders and market makers can be very busy quoting prices for customers and managing the risk associated with trading on those prices. It can certainly be a fast paced and stressful environment.

Professional traders also usually have a number to meet in terms of their overall annual profitability, so if they fall short of that amount, they may risk losing their jobs or getting a reduced performance related bonus. The same sort of position-taking stress level can affect fund managers who often take considerably greater risks over longer periods of time. The number of people who are making profits trading Forex is growing, and it is due to the way in which anyone can now become a Forex trader that is allowing more and more people to start to take advantage of the swings in the value of all currencies that the reason behind the growth in currency traders.

Many years ago the only way that you would have the opportunity of trading Forex would be to have access to a large amount of capital which would then see you having to purchase large amounts of one countries currency, and hold onto the currency until its value dropped and then sell the currency back into your original one.

However, those days have long gone and now all you need to be able to start making money trading currency is to have access to an online or mobile Forex Broker and then utilize the trading platform available from that Broker. Instead of you having to buy large amounts of any countries currency, you are simply going to need to place a bet known as a trade on whether you think one currency will increase in value or fall in valued against another currency. You therefore need to pick out two different currency and have them paired up in a trade and then hope the one you select to drop in value does so against the other currency, and if so you then make a profit on that trade.

You are going to be given the option of signing up to a Forex Broker using any currency that is convenient to you. It is worth noting that you should select the base currency that is convenient to you and that will of course be your home currency. Once you have made a deposit into your trading account, then you are able to pick out any two worldwide currencies to pay up together, not necessarily having to use one of the two currencies that is your home currency.

I published all my live trades before they triggered, along with their underlying analysis and trade management for about a year last year on the unofficial Discord channel. Click here to see why this is necessary. Why do you need results? A persons income is very confidential If people were to go around telling how much money they make, that would just throw alot of unnecessary problems towards their way. Money is possible yes, when people ask for my results I never show money, I just show percentage of growth over months, etc. Inspiration won't do it. So it doesn't really matter. Its all up on you and only you.

But don't seek inspiration and motivation, thats only setting yourself up for a higher come down for failure. There was this case not so long ago, hundreds and hundreds of subscribers selling this and that.. OP is not asking to share your strategy but your monthly performance for example.

There are many tools that can show your performance without showing the trade details. This is some excuses again and 'failure to show up' lol. Exactly thats what i'm saying though, there are people taht show their results and made publicly all the time. They won't ever show up straight up profits. Idk what hes talking about that theres people failure to show up.

Did I say that he asked me to share my strategy? How is this failure to show up? Show up to what? Am I trying to sell a strategy?

10 Ways to Avoid Losing Money in Forex

To prove to a bunch of desk jockeys that they turn a profit? Crypto in recent years has given forex such a bad name. If these people claiming to make money in Forex really did make money, they wouldn't be trying to sell a book on how to do it.

Why waste your time writing a book and creating a website when you could just trade and make the money you claim to be able to make? You just need to do something to raise your bankroll. Certainly selling systems has a lower bar for entry. This would mean that nobody should become a teacher, as if they were really good, they would be doing that thing as opposed to teaching it.

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Teaching can be just as important for people as making money. I love to flap my gums in forums, even though I'm not trading at the moment.

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Money isn't the only goal a person can have. My disclaimer would be that at my current level of competency, it is probably better that I'm commenting as opposed to trading. You say sensible things. People who sell Forex courses should show their profitable results in the past which is not something secret. The buyer should know what he is paying money for. When you come to a restaurant first you see a lot of delicious dishes and then you buy. The truth is that most of the sellers of these Forex courses earn on the referral program and also on the sale of trading robots!

That's the kind of course I've been looking for for the past two weeks, as a beginner trader, but it doesn't seem to be the norm.

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You can find out information about some of the guys at earn2trade, but that's still not a disclosed trading history. I've completed a few courses in forex trading for in these short year and a half and I made some losses and some profits and then I took a course that actually helped but because I basically spent all my cash on the courses I don't have cash to trade with ironically but I'm busy gathering funds in order to start trading again but I've started trading on a demo account last week because I need the practice.

Trading is a winning and a losing investment but it's not about winning or losing, its about the love of trading. Give your email address then I will send you my history on the demo account if you want. After this i can't believe on the result of demo account. It also depends on the broker you use because many brokers will manipulate the market on your live account and then will make it seem much easier to gain cash on the demo because they want you to start trading immediately, so what happens is You open a demo account and your making really great profits and then you decide to open a live account and guess what?

You lose everything because the demo is created for you to win much easier so that you would feel encouraged to open a live account because you expect the same kind of returns but once you do that then they will manipulate the market and you will lose a lot of money. What you can do is, check the charts on the mt4 platform with your preferred broker and then compare it to the charts that you see on tradingview and if the charts aren't the same as tradingview then find another broker.

Which one is better - free online courses or paid online courses? Just curious. And good luck with trading. You do get free online courses but it usually doesn't have value and will end up just confusing you.

3 Things I Wish I Knew When I Started Trading Forex

The course I did was a paid one and it was a bit expensive but it was worth it cause I learnt everything I needed to start Trading Forex. All people has losing experience in Forex trading. But some time trend indicator work properly. So any need to buy indicators go there.