Is forex trading profitable?

Is forex trading profitable?

I think this is a question that is asked a lot.
Is Forex Trading Profitable?
Around us, we hear many stories from successful people on the forex market, but also from people who have lost a lot on the forex market.
What exactly is this and why is one trader profitable and the other not?

Let me start with the fact that Forex trading is not a get rich quick system.
It takes months and maybe years of hard work, studying a lot, but also getting to know “yourself” very well.
In the beginning of your Forex career you will probably bump your head a lot and probably lose some money as well.
(Or maybe everything if you don’t have a good money / risk management.)
And this is often the point where many traders will fail and give up.
They will say that the Forex market is not profitable.
But what they don’t ask themselves is why it didn’t work?
And when they start to ask themselves that question, I often hear the same answer.
Mostly there are only 2 reasons why they keep losing.
I’m going to tell you this now.

1. Keeping yourself under control. / Is forex trading profitable?

Often the strategy is fine.
But the most common problem why traders keep failing because they can’t control themselves.
And what do I mean by this?
This has everything to do with the psychological aspect.
I think that as a trader or if you are just starting to trade you get to know yourself very well.
Not only in trading but also in your daily life.
You are confronted with yourself which can be very nice if you can also change this so that you become a better and stronger person.
Okay, now back to the core of the story.
What I often see when I look back at the lost trades with a losing trader, there are a number of things that immediately strike me.

Number 1 is perhaps revange trading.
Where the trading day first started well in control, you lose a trade. (Which is not a bad thing because everyone loses a trade once in a while!)
He then lets go of all control and takes all trades after that without a clear trading plan.
Or the lot sizes increased to make up for the lost money.
What eventually happens is the first 100 euro loss in the first place, eventually becomes thousands of euros loss at the end of the day.
Only by revange trading just because he wanted to make up for his loss.
Overtrading, too high lot sizes, letting go of the trading plan, no longer using your strategy properly.
Therefore, always review your trades at the end of the day.
What went well? and what went wrong?
You will eventually learn a lot from this.

2. Risk management. / Is forex trading profitable?

Okay now point two.
Did you know that a lot of traders also fail at not having or having poor risk management?
And how important do you think that is in trading?
Exactly very important!
Because without good risk management you can never become profitable in the forex market.

Imagine we have 2 traders.
Peter and Mike.
Peter has a win rate of 8/10 trades and Mike a win rate of 6/10 trades.
Who will be more profitable in the end?

Okay, we don’t know anything about their risk management yet.
Peter doesn’t really use risk management.
And Mike uses very good and tight risk management.
Who do you think is more profitable now?

Good job Mike of course!
Mike uses a risk of 1% over his entire account balance and aims for 2 to 3 percent which equates to a risk to reward of 1 to 2 to 1 to 3.
So even if Mike loses 2 out of 3 trades still makes overal 1 percent profit.
So the message of the story is where peter sometimes risks 20% to 30% of his account in just 1 trade.
Will Mike eventually last longer because he sees everything in percentage and uses his risk management wisely.

Is forex trading profitable?

Do you now understand how important good risk management is?
Often even more important than a good strategy!
Only you can limit your own risk.

Conclusion.

Forex trading is definitely profitable if you do it the right way.
So you do not only need a good strategy, there is much more to it.
And no you really wouldn’t be able to earn a lot of money in a day or in a week on the Forex market.
It takes time and experience! But it is certainly not impossible!

I hope that with this blog I have been able to give you some more insight into whether you can be profitable with trading forex.

Do you want to become Success Supply and Demand Trader or want to know more about Is forex trading profitable?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

What is Dow Jones?

What is Dow Jones?

What is Dow Jones?

The Dow Jones index is the most famous stock index in the world.
The official name of the Dow Jones Index is the Dow Jones Industrial Average.
This index shows the price development of the 30 most important stocks on the New York Stock Exchange or Wall Street.

It was founded in 1896 by Charles Dow and Edward Jones.
Where it initially consisted of only 12 companies, it has now been expanded to 30 companies.
Companies included in this index are, for example, Apple, Nike and Microsoft.

Despite the fact that this index is under discussion from time to time, this index is used as a gauge of the economy.

Of course, the Dow Jones Industrial Average is not the only US stock market index.
Two other well-known indices are the S&P 500 and the Nasdaq.
The former stands out because it is a much broader index, while the Nasdaq focuses significantly (but not exclusively) on technology stocks.
However, it is still generally accepted that the Dow Jones Industrial Average is an important indicator of the price evolution on the US stock markets.

The oldest US stock index

The Dow Jones is the oldest stock index in the United States.
The index is also known as the Dow Jones, the Dow 30 or simply the Dow.
The abbreviation DJIA is also used regularly.
Many Americans, and Europeans, take a look at the closing position before going to sleep.

The history of the Dow Jones

The history dates back to the 19th century.
It was published for the very first time in 1896.
And the index was then 40.94. This was a direct average of the prices of the then 12 stocks.
Then in mid-2018 with the departure of General Electric, all 12 companies were taken over, went bankrupt or simply fell into obscurity.
At the moment, therefore, none of the original participants are included in the index anymore.
Times change and so do the compositions of the stock market indices.

What is Dow Jones?

The composition

The Index Committee of S&P Dow Jones Indices determines the composition of the index.
The only criterion here is that the index must be as representative as possible a reflection of American business.
The committee members select 30 listed companies for this purpose.
A logical question is whether such an adjustment in the composition of the Dow Jones Industrial Average happens often.
In practice, this turns out to be better than expected.

The current composition of the Dow Jones

The following 30 companies are currently included in the Dow Jones Index.

3M Co. (NYSE: MMM)
American Express Co. (NYSE: AXP)
Amgen (NASDAQ: AMGN)
Apple Inc. (NASDAQ: AAPL)
Boeing Co. (NYSE: BA)
Caterpillar (NYSE: CAT)
Chevron (NYSE: CVX)
Cisco Systems (NYSE: CSCO)
Coca-Cola Co. (NYSE: KO)
Dow Chemical (NYSE: DOW)
Goldman Sachs Group Inc. (NYSE: GS)
Home Depot Inc. (NYSE: HD)
Honeywell International (NYSE: HON)
Intel Corp. (NASDAQ: INTC)
International Business Machines Corp. (NYSE: IBM)
Johnson & Johnson (NYSE: JNJ)
JPMorgan Chase (NYSE: JPM)
McDonald’s Corp. (NYSE: MCD)
Merck & Co. Inc. (NYSE: MRK)
Microsoft Corp. (NASDAQ: MSFT)
Nike Inc. (NYSE: NKE
Procter & Gamble Co. (NYSE: PG)
Salesforce.com (NYSE: CRM)
The Travelers Companies, Inc. (NYSE: TRV)
UnitedHealth Group Inc. (NYSE: UNH
Verizon Communications Inc. (NYSE: VZ)
Visa Inc. (NYSE: V)
Walgreens Boots Alliance (NASDAQ: WBA)
Wal-Mart Stores Inc. (NYSE: WMT)
Walt Disney Co. (NYSE: DIS)

Investing

It is possible to invest in individual shares of the companies included in the Dow Jones, or in trackers (ETFs) of the Dow Jones.
If you buy shares in a company that is in the Dow Jones Index, you become, as it were, co-owner of the company and you get a say at the General Meeting of Shareholders.
As mentioned, you can also invest in ETFs (trackers) on the Dow Jones.
ETFs track the entire index, not individual companies.
Depending on the performance, ETFs yield a certain return.
Since its inception in 1896, the average return of the dow jones industrial average has been around 10% per year including dividend.
So considerably more than gold, a savings account or real estate.

Do you want to become Success Supply and Demand Trader or want to know more about the Dow Jones?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

Forex books for beginners.

Forex books for beginners.

Forex books for beginners.

Forex books for beginners.
There are a lot of free e-books out there, especially for the beginning Forex trader.
In these books you will learn the principles about forex trading.
These books are therefore not of interest to experienced forex traders.

Forex books for beginners

Forex Trading.
This book actually contains all important topics that you should understand and learn as a novice trader.
The book is written by: Richard Taylor.

Forex books for beginners

An Introduction to Japanese Candlestick Charting.
This book is very useful as a novice trader so if you want to learn everything about the japanese candlestick charting.
I definitely recommend reading this book.
By Erik Gebhard.

Trend Determination.
This is also a very useful ebook for the beginning Forex trader.
Learn all about trend determination. Written by John Hayden.

Forex books for beginners.

Above, I have shared four very useful books if you want to know a little more about trading Forex.
And this free information can be very useful for a good read about trading Forex.
Trading Forex is certainly not a get rich quick system.
It consists of a lot of reading and many hours behind the charts to achieve success in the Forex market.
So spend your time wisely before you start trading forex and read carefully all the information you can find.
On my site I also have a lot of blogs which can be interesting for a novice trader.
I also have an extensive Forex course where you learn to trade in Supply and Demand step by step.
Which is certainly suitable for the novice trader but also for the experienced trader.

(If you are the copyright owner of any of these e-books and do not want me to share them, please contact us and we will remove them.)

Do you want to become Success Supply and Demand Trader or want to know more about Forex trading books for beginners?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

 

Buying and selling in the forex market

Buying and selling in the forex market

Buying and selling in the forex market.

Buying and selling in the forex market
It is very important to understand the Buyers and Sellers aspect in the (forex) market.
We as forex traders always want to beat the market.
The so-called ‘Beat the Markets’.

First of all, in order to make money in trading, we need Buyers and Sellers.
Because if there not both there, there is no money to be made.
I have to buy or sell to someone to make money.
And if I go with the crowd I’m probably wrong.
We know that 95% of traders lose money. This means if I belong to that large group (Large group of people)
I will probably lose money like that because I am in the 95%.
So to become really successful in trading you should not think like the 95% but think like the 5% that is successful on the forex market.

But what exactly does the 5% do that makes them so successful? /  Buying and selling in the forex market

First, they have tight risk management and make fewer trades than most of the traders.
Suppose I want to go short on a forex pair then of course I also need buyers who buy the same forex pair.
If I’m right, they lose their money and I take the profit.

So always ask yourself who exactly you are buying or selling from in a trade.
If the answer to that is the 95% unsuccessful traders, take the trade!
And do not go against the professional institutions or banks which together trade billions.
Because then you will definitely be broke at the end.

Let me give you an example. / Buying and selling in the forex market
When I buy a forex pair I think the price is too low and the price will get higher.
But why am I thinking this and who am I buying from? Someone whoever has to sell it to me.
But why?
When I think that the large institutions and banks are going to buy, I know that I am in the right place.
Why I think that I am not going to explain now, but I think most of them understand me.
Especially if you have done the course.

So suppose I’m right now and the big money is in a buy.

Now we come to the underlying problem:
I have to buy it from someone.
But who wants to sell it to me? Let’s take a look at the technical analysis of the 95% unsuccessful traders then we will see that the majority of those traders want to sell.
But why do they want to sell? And why are they all wrong?
This is a tricky part but mostly it has to do with panic (when the price actually takes liquidity).
Have a look at the image below …

buying and selling in the forex market

Looking at the arrow that’s where the 95% is going to sell.
After all, that is the direction that the market is now heading.
But why do I think it is a buy?
Because the big money and the big people (the so-called market movers) are waiting for a better price to buy again.
So in short, the traders who look at the big traders the banks and the institutions will win.
These have a lot more money and will make the market move much faster.

In the image below you can see exactly how beautifully the market moves in waves.

In my new youtube video I also explained a few things.
Be sure to watch and don’t join the 95% if you want to win!

buying and selling in the forex market

 

 

Do you want to become Success Supply and Demand Trader or want to know more about Buying and selling in the forex market?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

 

How to trade EUR / USD?

How to trade EUR / USD?

How to trade EUR / USD?
I think EUR / USD is one of the most traded pairs worldwide.
I do not trade this pair that much, but that does not mean that it is not a nice pair to trade.
The pair moves very differently than for example GBP / JPY and if you like a bit more relaxed trading then EUR / USD could really be your pair to trade!
Many swing traders like EUR / USD as it moves or not as fast as GBP / JPY, but in the longer term this pair can get you a lot of pips.

The behavior of EUR / USD. – How to trade EUR / USD?

EUR / USD makes a lot less fake outs and is therefore also a pair that is good for a novice trader to trade.
Especially if you want to start off a bit more slowly and don’t want to burn your fingers on a more manipulative pair like GBP / AUD for example.
If you are a bit more impatient as I can sometimes be, I don’t think EUR / USD is your pair to trade.
A trade on this pair can sometimes take a long time to reach your TP.
But once EUR / USD moves, it can also move quickly.

How to trade EUR/USD?

How to trade EUR / USD?

Above we see the EUR / USD Chart on the h4 timeframe.
We see here that EUR / USD actually quickly gives a rejection in the Supply zone and then also comes down.
We do not see any Fakeout and that is also something you rarely encounter on EUR / USD.
Waiting for a possible fake out is therefore not recommended for this pair.

In general, EUR / USD moves very smoothly between the zones.
What can sometimes make it a bit dangerous when you are going to scalp this pair is that this pair tends to get into consilidation more.
Which in turn ensures that your trade can still go in all directions after the consalidation.
EUR / USD is a very attractive pair for swinger traders.
Because once EUR / USD goes into a certain direction, this pair often keeps going for a while.

How to trade EUR/USD?

How to trade EUR / USD?

Conclussion

Above, I have posted another EUR / USD chart on the h1 timeframe.
We see here again how EUR / USD approaches the zone and does not shoot through.
But actually rejects the zone twice and comes back down.

And if you paid attention in the previous blog, you can also see here how the price got into the zone with high volume.
And we know what indication that volume bar can give right?

To be able to see and recognize this, it is better not to have lists of forex pairs open in the beginning.
Preferably choose 3 and get to know them completely.
You often see the behavioral patterns of a specific couple very well.
And so you can learn to trade better.
The trick is not the more the better but the less the more winning trades you will eventually make.

Besides what I have now explained, you should of course pay attention to more things before taking a trade.
Do you want to know what exactly? You will learn all this in the course, but applying it will take some practice.

Do you want to become Success Supply and Demand Trader or want to know how to trade EUR / USD?

If you are a beginner trader and to become a good professional forex trader. Want to know more about How forex leverage works? The Forex Scalper teaches you the best scalping trading strategy using supply and demand zones which are already traded and tested by thousands of TFS members and performs daily trades.

To become profitable from Beginner Trader and most successful Scalping trader in Supply and Demandjoin THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you Professional Forex Market Trader.

JOIN HERE TFS COMMUNITY

======================
Results – Instagram
====================== 
Forex Trading

Looking for a Trusted Regulated Broker?

TheForexScalper recommends you join ICMARKET which is regulated and the most trusted broker. They provide very tight raw spread account with fast execution and having multiples deposit and withdrawal options.

Join IC Market

error: Content is protected !!