Thank you, that was a very helpful explanation. I'll try to test it on a demo account and see how it goes.

Commonly Asked Questions

Right? Everyone makes mistakes, it's natural, there's no point in having unrealistic expectations about one's own trading.

Are there really traders with 100% Success Rate???

Is it possible? Yes. Is it probable? That really depends on the trader. Just because one person can do it doesn't mean another can and vice versa.

Is it possible to earn 30% per month consistently for 4 years?

Hmm, let's see. 1. I started trading forex because I was curious and because I got bombarded with forex advertising at one time. Good thing I am cautious and paranoid by nature or I would've lost a lot of money. 2. What's so hard? Everything. ...

Trader pains and issues

In other words they're being your typical scammer - registered in the middle of nowhere and offering people easy money. I always wonder why people fall for such blatant lies. Desperation and lack of experience, I think.

Show me a scam broker

Huh, that's a good idea. I need to test it out for myself, but thanks for pointing it out.

Commonly Asked Questions

I have a hard time learning not to be greedy and because of that I still overtrade and end up losing money, rather than profiting.

What you still haven't learned

Brokers must've learned their lesson after the CHF fiasco. Or at least I hope they have. Besides, this is a scheduled event, they should be prepared for it. As far as I know, many of them are hiking the margin requirements of the EUR and GBP pairs.

Brokers stability during Europe's Brexit referendum

I don't know about three, but I do have one which has tormented me for years and I still haven't figured out the answer: "How do you figure out when range will end?"

Commonly Asked Questions

The problem with the paranoia is that even if it pushes the pair down it's all very uncertain. Any piece of news regarding Brexit could change its direction.

EURGBP

It will probably continue rising, at least until it reaches target 0.7960. That said, I think there should be a consolidation after the big move to the upside last week.

EUR/GBP - What a great pair to trade!

This is an update about my older post about Magnum Options broker. After the British Columbia Securities Commission issued a warning against them for operating without authorization, now the Manitoba Securities Commission issued a warning against ...

Black List of Brokers

There is no way there will be a world mono-currency - if only because there's too much money to be made, too many people profit from the current state of things.

Global mono-currency?

I won't be trading at all during this event. It'd be too risky. Not to mention that once the news come out order execution speed will probably slow down to a crawl.

Brexit, anyone?

I don't think that 100% success rate is possible over a long period of time, like a month, let alone a year. But one doesn't need that to begin with, they only need their profits to be more than their losses to be successful.

Are there really traders with 100% Success Rate???

I think it's time for longs too, the bearish trend is getting exhausted.

AUD/USD

I closed my long as well and I am waiting to see whether it will break above 1.4660 or it will form a double top.

Cable Update (GBPUSD)

Why do you prefer not to use a stop loss?

Trading without a stop loss!

Most people struggle to be consistent in their profits. Sadly very few ever succeed in achieving it, but that doesn't mean we should give up.

Who makes real money from forex?

The real money are made by major players, brokers, banks, etc. That said, there is the occasional capable trader with a large account trading on their own and making good money, but those aren't encountered very often, in my opinion.

Who makes real money from forex?