The online stock market called Forex has become increasingly popular, if you are interested LEARN HOW TO MAKE MONEY IN THE FOREX MARKET, here is a step-by-step tutorial on how you can do it.
LEARN TO EARN MONEY IN THE FOREX MARKET
Anyone with sufficient will can earn money in Forex . If you want to earn money, then you will know a profitable strategy:
Choose the financial instrument you prefer on your trading platform and analyze your chart in the 1-day timeframe. Then apply an SMA (simple moving average) of 20 periods. When the price of said asset closes above the SMA, it opens a purchase order. On the other hand, when the price closes below the moving average, it opens a sales order.
You can do backtesting (tests with historical data) of this strategy right now and discover that it has been profitable since the last 10 years (although almost, since Forex has been in range most of the time).
This is a simple and easy to follow strategy. If you take into account long-term volatility, the strategy can be particularly effective if you apply it for a long period of time. Most likely, you only have to review your positions once a day to make sure everything is fine.
However, this strategy offers profits very slowly. In addition, many of the operations will close with losses and a few will generate profits. You may wonder how a strategy of this kind can be profitable. Well, the few profits it generates are enough to compensate for all losses.
As you can see, making money in the Forex market is very simple. So, why do 9 out of 10 operators end up failing and leaving the market? The answer is simple: almost everyone wants to be a millionaire from one day to the next.
The truth is that Forex trading is not different from other businesses. It takes work and luck does not take place here. Keep reading to know 4 essential steps that will bring you closer to your goals and financial freedom.
Watch the video and learn the basics to earn money in Forex
What is the first step to earn money in the forex market?
There are many companies that want to make you enter the Forex market and do not fear to exaggerate the profits you can get. These companies use messages such as: ” make money with Forex quickly, make money with Forex easily” , although you must be smarter and see beyond the ads.
It is very important that you set realistic goals. Regardless of what the advertising you find on the Internet says, you will not earn thousands of dollars a day in your first week of trading. You will not even get it after several years if you do not pay attention to your education!
However, if you are an applied and persevering operator, you will be able to achieve this kind of objective over time. When it comes to trading, the investment of time is as important as your capital.
Unrealistic goals can lead to 3 major problems:
1. Misperception of Forex: You will see opportunities when in fact they do not exist
2. Financial pressure
3. Trading in excess: You will not respect your own trading rules, which will generate losses.
If you want to know how to earn money in Forex , you have to study deeply the two main styles of analysis in the market (technical and fundamental analysis), read news throughout the year to stay aware of the socioeconomic factors that may affect currencies and constantly improve your trading account. Actually, there is no secret to success; only work, perseverance and determination.
If you want to earn money in Forex , you must have a unique determination and move forward regardless of all the problems you face. Only those who resign themselves to losing and renounce their dreams are the ones who fail.
To advance in your career as an operator, you have to focus on improving everything related to trading, but not directly on the monetary objective. You must bear in mind that Forex is not a scheme to make quick money, but a profession that must be taken seriously. The job of the operator is to analyze the economic situation of the whole world and make a forecast.
There are professionals dedicated exclusively to earn money trading in Forex . Financial institutions and hedge funds hire experts in currency trading to carry out operations. As you know, Forex has a high trading volume. And 80% of that volume is negotiated by people like you, only with a little more professional experience.
In short, you must see trading as what it really is: a career, but not a hobby.
If you wonder how to make money trading in Forex , you can find long-term trends and then apply a simple strategy, such as the one mentioned above. Over time you will find ways to improve this simple strategy and improve your earnings.
The best way to earn money trading Forex is, of course, following the trading career. The most advisable thing is that you follow actions that generate you big utilities when operating with currencies.
Motivation is a vitally important factor in success, not only in trading, but in any sphere of life. Many have only money in mind, which in most cases leads to disappointment and failures.
To earn money in Forex you have to find a motivation other than money. Do you want to achieve financial freedom? Do you want to dominate the markets? All are valid reasons, as long as they do not involve earning a certain sum of money.
This principle may seem confusing, but it has a logical foundation. The most common is that people who just start trading suffer losses. Just as a university charges its fees, it could be said that this is the cost of education in Forex. Although it is important to limit the losses at this stage, there are many who give up and abandon their efforts just because they do not get money. For this reason, to earn money as a Forex trader , you have to forget for a moment the money and concentrate on a different goal.
Once you become an investor who earns money by trading in currencies , the evolution of your career and the success of your plan will depend on you. No one can question you for your actions. Such a level of responsibility may seem frightening, although in reality it gives a unique level of freedom that very few people manage to achieve.
Earning money trading in Forex is a resistance race, but not speed. Inevitably you will face problems along the way and you may experience stress. However, you should not give up. There have been many people who have gone through the same process successfully. And if they could do it, you too! Search forums and specialized websites for the most frequent doubts of operators and you will find answers to many of your concerns.
For those who just begin to know the Forex market, the most advisable is to use algorithmic trading strategies, since you have well-defined steps and processes. A good example of this kind of strategy is the one that appears at the beginning of the article, where a 20-period simple moving average crosses the price. If you follow the steps of the strategy, you will not have major problems. Of course, this is a too rigid approach, but it is enough to start trading.
To earn money trading in Forex you have to lose. It sounds contradictory, yes, but it is a totally necessary process. In this market losses are inevitable. However, that does not mean that you can not use them to improve your trading skills.
It may seem impossible, but making money in Forex is not far fetched! Never give up or lose sight of your goal. At this very moment, as you read this article, there are thousands of people around the world who survive thanks to the profits they generate in the forex market. You are a very capable person and if you propose, you will also be part of this group!
If you are one of the people who go through a losing streak, you should not be discouraged either. Even the most experienced operators have bad periods. This does not mean that forex trading is not for you. What you have to do now is rest a bit, get away from the markets and review your operations. Do you notice anything strange? Do you see any error? You will surely find the cause of the problem and overcome it.