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 …
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!
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 ProfessionalForex Market Trader.
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.
Myfxbook forex. Myfxbook is a very good website that offers various services.
Handy tools, charts and a whole community of different traders.
So it not only allows you to exchange strategies, but also copy transactions.
And above all the ability to share the results from your online account.
How do you connect an account on myfxbook? Myfxbook forex
In this blog I will explain you step by step how to connect your account on myfxbook in short.
Step 1: Register on myfxbook. Firstly you have to register an account on the site.
It is available immediately on the main page on the right for example look at the screenshot below.
So just set your username, password and accept the regulations.
After a second you will receive an activation link to the email in which you must click and your account will be activated after that.
Step 2: Log in! / Myfxbook forex Secondly log In.
At the top of the page, you can enter your login details.
After logging in, you can go to the section Portfolio -> Add account and then select again Add Account.
Step 3: Configuration. / Myfxbook forex For this example I will use the MetaTrader 4 platform and the broker IC Markets. But you can use the broker you want.
Options for MT4:
Publisher – data are published based on communication with the FTP server (update every 5 minutes, the most limited possibilities).
Auto update – data are updated on an ongoing basis via the server (every 5 minutes or less, depending on the load). It is the most convenient option to configure and use.
EA – by means of an automat running on the platform; is considered the least emergency, but at the same time requires installation and launching of EA.
In the example below I choose the option MetaTrader 4 (Auto Update) and enter the required data.
But you can choose which one you want.
Configuration
Configuration on MyFxBook:
Firstly select a broker from the list.
Secondly add the account name.
Thirdly enter the broker account number and investor’s password.
Investor’s password – The Investor’s password allows you only and exclusively to view the account (without the possibility of concluding transactions).
So if your broker did not give it to you automatically, you can define them yourself on MT4.
Let me explain.
To do this, go to the section on the platform Tools -> Options -> Server -> Change -> Change investor password.
To define the investor password, enter the master password.
Step 4 : Settings.
If you filled in everything correctly, you will receive a notification on the MyFxBook website about adding your account to the site.
The results will be updated on a regular basis so it won’t be long.
After that you can also change your account settings on the website MyFxBook -> Portfolio -> Add account-> Edit.
This is where you can change the description of the account, the system or information about its configuration.
Full verification
Step 5: Full verification. / Myfxbook forex This is an additional option and most importantly it can give more reliability to your fxbook.
Because it means that you are confirmed with myfxbook and you can also share your results.
And of course it gives the most reliability to the authenticity of your account.
-In the account settings on MyFxBook, you can go to the section Verification.
Here you will find the authorization password (authorization password) that was determined by the service.
For example the previously defined investor password on the MT4 platform should be changed to this authorization password.
-After you changed the investor’s password to MT4,
just go back to MyFxBook and select Update password. And enter authorization password and confirm.
-And finally click here Connect, so we just have to wait for the connection to be approved.
Then you can now use the fully verified account!
If you are a beginner trader and want 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 Demand.
Join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you ProfessionalForex Market Trader.
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.
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?
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?
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.
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 ProfessionalForex Market Trader.
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.
A handy tool that I often use when trading Supply and Demand is volume.
Actually, I always have it there as confirmation for a possible trade.
But what exactly does the volume indicator tell you and how do I use the volume in my trades?
I’ll tell you more about it in this blog.
For me it is important in my strategy to also keep an eye on the volume on the market and especially at certain Supply and Demand levels.
Because the volume can already tell you a lot or can even sometimes give a sign that the price could reverse at a particular Supply and Demand zone.
Just have a look at the image below.
How to use volume in Forex Trading?
In the image above we see a nice Supply zone where the price comes for the first time.
And if we simultaneously look at the volume below, we also see that something is happening there.
The high volume already gives us an indication that the buyers are giving the last hard push up.
So this “may” be the first sign of a possible reversal and that the price will fall again.
I put “can” here in parentheses ” because this is not a direct signal to go sell.
For this you have to confim a number of other things before you can determine whether this is a nice sell.
How to use volume in Forex Trading?
And so you can get much more prestige with the volume bar, such as possible fake outs.
Or that there is a bigger indication that price is breaking through the zone.
That’s why I will always advise everyone to always use the volume bar in your charts.
It is a handy tool and can always give you more confirmation of a possible trade.
And sometimes also give an indication in advance which way the price could possibly go.
If you are already a member of the forex scalpers community, I will certainly recommend that you read the chapters about volume very carefully and apply them in your trading.
Are you not yet a member of the forex scalper community and do you want to know all the ins and outs about trading Supply and Demand in combination with the use of the volume bar? Then you can always join the course, I have explained everything clearly and step by step.
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 Demand join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you ProfessionalForex Market Trader.
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.
Every day I am inundated with questions in the email on instagram and other platforms.
Therefore I am going to answer the most frequently asked questions today in this blog.
Many questions also come from the beginners in the Forex market
and for many of you the questions will make no sense but let’s go through them together.
So here are the number 1 most frequently asked questions:
1. “Where you you think (random currency) is gonna go?” Questions I Get Asked as a Forex Trader.
Okay, this question is asked very often.
And no unfortunately I am not a clairvoyant and I have no idea where exactly the price will go.
First of all, this question is also super vague and I will appreciate it if you give me a little more information to have a good answer for you.
For example you ask me “Where do you think EUR / USD is going?”
Uhm yes you mean next year? Today? In a week or in a whole month?
And even then I cannot give you an answer with certainty.
There are several things to look out for and my opinion can change every day.
Because we have to sail with the waves.
So if you ever ask me this question you will always receive the same answer:
I have no idea, as no one can know exactly and no more than you can know. / Questions I Get Asked as a Forex Trader.
And that’s not wrong and I’ll be lying if I said I did.
So you know what it is, I review it every day.
For instance when i open my charts and see a nice trade developing, it may change my opinion about another trade and that’s how we look at it from day to day.
But the fact is I can’t tell you exactly where EUR / USD is next month.
2. What do you think of “this” or “this” trader?
I am also asked this question daily and to be very honest with you I am not concerned with that.
Because I am mainly focused on my trading, my companies and of course my community.
So this question is also very pointless to ask me.
Therefore I will never pass judgment on anyone who I do not know personally and not know his way of trading.
3.“Based on (world/political event), what do you think this currency is going to do?” Questions I Get Asked as a Forex Trader.
I can never give you the answer to this question with certainty.
But with some events you can know certain things.
So for example, when President Trump was elected president,
this was seen as good for the economy and bad for the price of the USD.
Trump wanted exports to go way up, and a cheaper dollar was a big part of that.
So just know that any time a conservative leader is elected, it’s generally seen as good for the economy.
If you are a beginner trader and to become a good professional forex trader.
Want to know more about How forex leverage works?
Therefore 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 Demand join THEFOREXSCALPERS and trade with 3500+ community traders with daily analysis and educations which boosts your trading skills make you ProfessionalForex Market Trader.
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.
How to trade GBP/AUD? The GBP / AUD pair is one of my favorite Forex pairs.
GBP / AUD may not immediately be one of the easiest forex pairs to trade.
And I certainly will not recommend this pair if you have just started trading Forex.
But once you get to know this pair behavior, you can’t help but love it.
The behavior of GBP / AUD.
If you are used to trading EUR / USD you will say that on average this is a somewhat slower pair that also does not have much manipulation.
With GBP / AUD this is different and you can hardly do anything but wait for the manipulation before taking a trade.
It is a more aggressive pair that you will penalize if you take the trade too early.
But the advantage of this is that once you learn to recognize the behavior, it can also give you a lot of pips very quickly.
How to trade GBP/AUD?
Above we see the chart of GBP / AUD on the h1 timeframe.
From the Supply we can already see that GBP / AUD breaks the baseline twice and then comes back again and closes below the baseline.
For me this would already be a good indication of a possible sell position.
Of course we also pay attention to all other signals and do not immediately take a sell position on them.
The first time the price hits the baseline, you see that the price also goes down, but then up again.
This could probably mean an SL for some traders.
Therefore, always wait with GBP / AUD first and preferably let him get a little deeper into the zone before taking a possible Sell position.
The trick with GBP / AUD is to have a lot of patience and you should absolutely not be bothered by the FOMO.
And if we look at the demand level, we actually see exactly the same thing happening.
How to trade GBP/AUD?
m30 Timeframe
In the image above I have switched to the m30 time frame, here you can recognize the possible entries even better and take them even faster.
Do you see what I mean?
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.
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 ProfessionalForex Market Trader.
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.
