First, you should determine whether you want to buy or sell. If you want to buy which actually means buy the base currency and sell the quote currency , you want the base currency to rise in value and then you would sell it back at a higher price. If you want to sell which actually means sell the base currency and buy the quote currency , you want the base currency to fall in value and then you would buy it back at a lower price.

All forex quotes are quoted with two prices: the bid and ask. The bid is the price at which your broker is willing to buy the base currency in exchange for the quote currency. If you want to sell something, the broker will buy it from you at the bid price.

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The ask is the price at which your broker will sell the base currency in exchange for the quote currency. If you want to buy something, the broker will sell or offer it to you at the ask price.

How much do Forex traders make? - Forex realistic returns explained

Look at how this broker makes it so easy for you to trade away your money. If money is your hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience and ability. The reason that this bracket of traders is able to reach such heights is because they approach the market differently.

So, if you want to start earning the same as what the top traders make, you should be prepared to build, alter, and overhaul your forex trading efforts. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way. Company Number Valutrades Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register Number Click here to read customer reviews.

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First things first: set realistic expectations

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Understanding the Top Forex Indicators That World-Class Traders Rely On While you might expect top-performing traders to rely on obscure indicators that have guided them to stunning success, the indicators featured in these strategies tend to be remarkably ordinary. Relative Strength Index RSI Developed in the s, this is one of the most popular oscillator tools because of its value in reflecting the strength of an emerging trend. Fibonacci levels While many forex experts question the reliability of Fibonacci extension and retracement levels as an exact forex science, top traders are always paying attention to not only the price action of a currency pair but also the trading activity around these positions.

Reviewing Economic Events Followed by Top Traders Technical indicators are just one way top traders evaluating trade opportunities. Here are some of the top economic events to follow: Gross Domestic Product GDP GDP reports are one of the best ways to gain a snapshot view of economic activity in a country. I was in this trading for 2 years since I lost everything I invested.

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But I believe that I can recover all that and for that I need your help to restart what I shut down almost 2 years ago. I am still hopeful for sucessful trading ahead. Thank you for this article. Really its a very nice info. Thank you very much for this. My sincere congratulations. Great content here, you have a nice writing style, and certainly wonderful that you are so well versed in this niche. I will definitely follow your work further. I am just curious, how many traders do you do per day on average? I understand based on your post that you are a high-frequency trader since you always emphasize massive number of traders that a trader should do to win more.

And aim 2 or even 3? That was helpful. Or is that something different? Hi Rayner, good article. Especially when you mentioned that you need to combine the favorable risk-reward ration of at least and a good winning rate.

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Or perhaps you are referring this article to day traders or scalpers who executes plenty of trades a day? Pls enlighten. Or maybe you can specify what trading style are you referring to. Unless you are a gambler or just randomly put trades with no edge at all.

Thanks buddy! Their edge is already in place, like you are seeing a lot of confluent pin-bars or engulfing bars. But in Forex, you need to wait for your edge, and by the way, that edge should meet your favorable risk-reward ratio as well. So I dont really think you can trade a lot to win a lot. I dont even think you can do 50 trades in month or even in a quarter as Daily Chart swing trader, unless you are a scalper. I enter 10 trades and I excute and profit 10 trades.

Forex Trader Salaries

I just started trading live with real money. For me its a game. I follow all the rules. I test and confirm about 10 rules before each execution.

I suggest reading up on how crocodiles in wild target prey. That same mentality is exactly how to bag each profit target in forex. Watch, watch,watch then launch. Enrolment is closed now. Another very good informative article thank you Mr Rayner with your teachings I have learned a lot. Maximum open trades restricted to 18 positions or 36 mini lots. I am a scalp trader. The statistics are based on Myfxbook analytics. Trading period: 82 days. Active: 50 days. Inactive for 32 days because of drawdown and stop-out margin activated not allowing to trade further.

Trading Expectancy is Trading Frequency is 12 times based on the active trading activity of 50 days and 7. Trading Strategy: Scalping for TP 18 gross pips nett Wait for Drawdown or Account Stop-Loss. Trading to stop if maximum trades cross 18 positions. Trading income nett : If calculate for yearly of days trading then it becomes Trade Length: 2d Profit Factor: 2.

I read your Ultimate Guide to Price Trading and other posts. It seems like the content is catered for Forex Trading. Would I be able to apply these trading strategies to other forms of trading such as trading stocks? It went up over Christmas and then I went into us oil and then that went up but I did forex and lost it all.

Very frustrating. I liked your twenty per cent a year scheme.

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Makes me want to invest again. I recently bought s new guitar and investing makes you poor but then only need to do it once then you have that.

Realistic Forex Income Goals for Trading

I can keep occupied and stop losses seem stupid just wait til goes back up. I know nothing. Hi I m George. I d rather have money than fame.