What Is Forex Trading And How Does It Work. Let me ask you a question. Why do you want to trade Forex?. Honestly ask this question from yourself. Most of the people who start Forex trading just to be a millionaire overnight. You can do Forex in two ways.
1. You can trade blindly and make some profit. Let’s say you profit $100 in the first month and lost $200 in the second month. And in the 3rd month, you got a $50 profit. But the reality is you already have lost $50. Unfortunately, this is what most people do nowadays.
2. Learn about Forex Analysis, Build skills and Take Calculated risk. Minimize emotions and trade Forex for a consistent profit
What Is Forex Trading And How Does It Work: Is Forex Trading Profitable ?
My Name is Kumudu. I’ve started learning Forex 3 years ago. Opened My live account on 8th of January 2017. First, I learned about Forex for about a year and I’m not satisfied with Forex. My passion was with binary options. I was in love with Binary Options. But I was greedy. I just need to trade binary options and be a millionaire overnight and buy that Tesla as soon as possible.
What Is Forex Trading And How Does It Work : Trading As A Beginner
I Still remember my 1st investment was $10. Within a week I lost it all. and 2nd investment was $20 and I traded it up to $42 and came all the way back to $1. Now I’m a gambler I don’t even know what I’m doing. Watched tons of YouTube videos and every time I saw a good system and I get this feeling. “This is it” this will make me a millionaire. Now I have knowledge about Binary Options. I started using another $20 and made $50 in profit. And Then I was hit by a waterfall (the waterfall is a High trend ).
I was a reversal trader. And yes I did use a martingale and that was my mistake. I lost it even before I realized what I was doing. I did trade 3 steps in a martingale. I had a 98% chance of that 4th Entry is sure shot profit. and I lost it. my balance is now 0. I’m so angry with the broker myself and loaded another $10 from my Credit card and traded the whole lot of $10. and lost it too. I closed my laptop and cried. I don’t know what happened. Honestly, that was not me.
Next day I started learning Forex and Binary Options. I studied lots of things. Read Tons of articles. Tested more than 1000 Forex / Binary Options Strategies, Systems. Long Story short. When I starting back Trading again. I profited over $200 in one week. That was the best week of my life. I recovered all of my losses in 1 week.
After that i achieved lot’s of things in my life. As a result i partnership-ed with a Private Wealth Company for 80:20 Profit share. They were impressed by my Story and how dedicated i’m to this . Now i manage their fund beside my Personal Trading.
Do you want to know what is my secret strategy?. Read all the posts on this website starting from this one. You’ll find clues to my strategy.
What Is Forex Trading And How Does It Work : Forex Trading Tips
Learn first. Then you can remove the L. That’s the most important tip. The second one is don’t ever give up. People may call you a gambler or other things don’t listen to them work hard until you succeed. I’ll give a list of resources I personally used to learn about Forex and Binary Options.
And In this website, we present you Best Forex Systems, Best Binary Options Systems in the world.
This is the best tip I’m going to show you. I’m not going to say anything. Just look at this chart below. Look at it clearly. Look twice. You’ll understand the truth
What Is Forex Trading And How Does It Work : How To Start Forex Trading
First, you need to learn. And then you can start by trading a demo account of Forex Brokers. There are lot’s of them Doesn’t matter what you choose at least trade one month in demo account unless you have lot’s of money to blow up. Once you are confident enough. You can go live trading.
Also, there are brokers who provide $50 bonus real money when you start a real account. Get that deal and trade wisely. If you do it right you don’t need investment to start Forex trading
Personally, I trade Binary Options only. I did Trade Forex for a while and I like binary options more. One way to look at Binary Options is, It is Forex in Lower time frames.
What Is Forex Trading And How Does It Work : Best Forex Trading Platform
There are lots of reputable Forex Trading Platforms. Do some research on your own. Don’t just read some reviews. Decide yourself. Try their demo and make sure you find these things
- Regulated or not
- Withdrawal Time
- Customer Support
In Binary Options You have to be super careful because there are lot’s of scams out there and some countries do not support binary options.
For Forex I personally use Meta Trader 4 Platform and For Binary Options I use IQ Options Platform. I have traded in
What Is Forex Trading And How Does It Work : Forex Trading App
If you are a mobile user you also can trade Forex and binary options. Sometimes you may have a day job and you are looking for a way to make some extra money.
The best platform I saw in IQ Options. That’s modern and have everything you need. Forex, Binary, Crypto everything in one place. You should start a demo account and try the difference. If you have any questions comment down below.
NOTE: This article is not about investment advice.