Growing a Small Forex Account Fast

Growing a Small Forex Account Fast

If you are a newbie trader who is just getting into the world of forex, then chances are that you don’t have all that much money to start with. In other words you are starting out with a very small forex account.

Of course, when you start trading with such a small amount of money, say $100, then things are fairly difficult. When you start trading with such a small forex trading account, it can be extremely difficult to grow those profits to something substantial. Moreover, it with such a small forex account, it can also be extremely difficult to engage in proper risk management so you don’t lose all of your money.

The fact of the matter is that forex trading is not easy in the least, and it takes a lot of different skills, tools, and tips that you need to follow in order to be successful. What we are here to do today is to provide you with all of the most important tips on how to grow a small forex account fast.

Today, we are going to look at one specific video that Andrew has uploaded on his trading channel, Andrews Trading Channel. This particular video is all about the best tips and rules on how to grow a small forex account fast. Of course it’s not all about growing that account fast, but also about growing it reliably so you don’t lose money.

Growing a Small Forex Account: Three Stages

The fact here is that there are three separate stages that you need to follow in order to grow that small forex account fast and reliably. Let’s take a look at all three of these stages.

Stage 1

the first stage of growing a small forex trading account has to do with the types of trades that you place and how you trade. Let’s take a look at the biggest tips and rules that you need to follow within this stage in order to grow your small forex account fast.

One of the absolute most important rules that you need to follow here is to only trade strong trends. You need to be able to identify what trends are, and how strong various trends are. The point here is that you only want to place trades on very strong trends that are sure to continue in the same direction. as a beginner trader you should never place trades on weak trends, because the chances of things turning out profitably are very minimal if you do this.

If you plan on growing your small forex trading account fast, what you always need to do is to take and lock your profits. In other words, don’t keep trades open forever in the hopes that they’re just going to keep profiting when they’re in the green. Profitable trades can and will eventually turn around and start losing money, and therefore it is important for you to take your profits whenever possible.

In terms of how much money you invest into trades, if you want to grow a small forex trading account, you need to stick with very small investments per trade. In order to engage in proper risk management, it is recommended that you never invest more than 2% or 3% at most into a single trade. Moreover, you should also start with small lot sizes of 0.30 or lower. If you trade like this, even if you do end up losing a couple of trades, at least you engage in proper risk management, so you only lost a little bit of money.

Stage 2

Once you have mastered and followed all of the rules and tips that we talked about in the first step of growing a small forex account, what you need to do is to follow the next set of tips and rules that we are about to set out below. Although these tips are different from the first set that we provided you with, they are still extremely important for you to follow.

First and foremost, one of the things that you need to realize about forex trading is that it is a marathon. This is a long term race, not a Sprint race that you need to villages quickly as possible. What we need to say here is that you need to set yourself realistic profit goals, because you aren’t going to make 100% ROI in a single week of trading. When you start with such limited trading capital as movies often do, making keeps profits on a weekly basis is just unrealistic, especially if you are just fine tuning your trading strategies. Your profit goal should be no more than 5% of your total trading account per week. This will help to ensure that you don’t get too overzealous with your trading, while still helping you stay motivated to make profits.

In terms of how you trade, one of the absolutely most important things that you need to do is to only trade the most volatile of assets. Now, of course here we are talking about currency pairs, but this also goes for other types of trading, such as stock market trading. The fact of the matter is that the more volatile an asset is, the more movement it will see almost price charts, and therefore it makes it much easier for you to predict what is going on. The most volatile assets are those that see the most movement and therefore also provide you with the biggest profit potential.

The other thing that you need to do in order to grow that small forex account quickly is to make sure that you use good stop loss levels. The thought of the matter is that most people don’t use adequate stop loss levels, and this means that even if they do have a stop loss level set, they usually end up losing way too much money before their trade hits that stop loss level and closes on its own. You should keep your stop loss levels very close, just below your original investment, therefore if you lose a trade, at least you won’t end up losing very much money.

Stage 3

Let’s now go over the final set of the most important rules and tips that you need to follow in order to grow your small forex account quickly and reliably.

OK, so we did mention that you should be using take profit levels to take your and to lock them in. however, what happens if you have a winning trade, but it looks like it is going to reverse before it hits that take profit level? well, what you need to do here is to lock in your trades and close them early. If you see that a trade is in the green, but you think that it may reverse soon, and don’t wait for it to hit your take profit levels, because you want as much profit as possible. Therefore, you need to close trades early before they had to take profit level in the event that it looks as though they will reverse.

The final tip that we have for you to follow here today when it comes to growing a small forex account fast, is that you always need to read the fundamentals and you always need to perform technical analysis on the major market movers. Now, we realize that fundamental and technical market analysis are extremely difficult to perform, especially as a newbie who doesn’t really know what they’re doing. However, with that being said you need to be able to perform both fundamental analysis and technical analysis, especially on the major market movers, if you plan on being successful. Therefore, we definitely recommend checking out some of the biggest and best indicators out there, and you should learn how to use them, so you can then analyze the market yourself.

Although this particular tip was not included in Andrew video, we still do want to provide you with it, and this is that if you are a trading newbie who has no idea what you are doing, if you actually want to grow that small forex account fast, then you need to have an education under your belt. In other words you need to learn all about the best trading strategies and solutions out there so you can make as much money in as a limited amount of time as possible. This means that you should join some kind of trading school in order to learn everything that there is to know about forex trading so you can hit the ground running.

How to Grow a Small Forex Account

With all of the rules and tips that we have provided you with here today in terms of growing a small forex account fast, you should be able to do so in a relatively reliable manner. Just keep in mind that for the best results, you do want to have a forex trading education under your belt. It always helps to have a good foundation of knowledge before you start risking money on the market.

If you need help day trading, and what you need is a comprehensive education, particularly on Forex trading, then the best place to be is the Income Mentor Box Day Trading Academy. At this time, the IMB Academy is the most comprehensive, user friendly, effective, and affordable Forex trading school out there.

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Starting Forex Day Trading with Just $100

October 27, 2021October 27, 2021 Fabian FabianLatest News / Latest News / NewsLeave a comment

Starting Forex Day Trading with Just $100

Something that some people will tell you about forex day trading is that you need a whole lot of money to be profitable, and what we mean here is that you need to have a whole lot of available capital in order to start trading. However, this is not really true at all, because there are plenty of beginner forex day traders out there who start with only a couple of hundred dollars. Now, while it is of course hard to start trading with such a limited amount of money, it is technically possible to start with as little as $100, and moreover to turn this into a full $1000 in just a single week.

Our very own Andrew, this past week did a challenge where the goal was to take $100 into turn it into $1000 through some simple forex day trading. For those of you who think that this is impossible to do, as you will see from all five of the videos (one for each day of the challenge), it is definitely possible.

Now, we aren’t going to include every video from every day, but we will talk about the beginning and the end, or in other words, we want to provide you with all of the tips that you need in order to forex day trade with just $100, and moreover, we will also be talking about how Andrew managed to achieve his goal. Let’s get right through it and provide you with all of the most important rules and tips for starting forex day trading with just $100.

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Forex Day Trading with $100 – Important Rules & Tips

What we want to do right now to provide you with all the most important rules for forex day trading when you are starting with as little as $100.

Choosing the Right Account

Before you can start forex day trading at all, the first thing that you need to do is to choose the right type of trading account. Now, there are usually four types of trading accounts that brokers will offer, including standard, mini, micro, and nano trading accounts.

What you need to know here is that a standard lot size is 100,000 units, a mini lot size is 14,000 units, a micro lot sizes 1000 units, and a nano lot size is just 100 units.

Based on this it serves to reason about a nano trading account is the best option to go with if you are starting forex day trading with just $100. This type of trading account will allow you to trade with the smallest possible investments, and it also comes with the lowest possible fees and commissions.

Be Realistic

If you start day trading with as little as $100, don’t expect to become filthy rich in just a few weeks or months. The simple reality here is that you won’t escape the rat race when you start forex day trading with just $100.

In other words, don’t set totally unrealistic goals of unlimited riches, when the fact of the matter is that you will probably still need your day job in order to survive, at least when you are in the beginning stages. The bottom line here is that you just need to be realistic.

Managing a Small Account as if it Were a Large Account

When you start day trading with just $100, another important tip for you to follow, is to always trade as though it were a very large trading account. In other words, treat those $100 as if they were $10,000. If you don’t have anymore money to spare, then losing $100 is just as bad as losing $10,000.

Therefore, you should always do everything in your power to manage risk as good as you can. Generally speaking this means that you should risk no more than two percent of their total trading capital on a single trade.

Only Trade Short Timeframes

When you are starting forex day trading with just $100, one of the best types of trading you can engage in is forex scalping trading, which means that trades are only open for five, 10, or 15 minutes at the very most.

This makes it much easier to trade with as little as $100, or even less, because it means that your take profit levels and your stop loss levels are very close.

When you are trading with just $100, using longer timeframes can be extremely difficult. Moreover, when you trade on longer timeframes, those trades are just open for way too long, and as a new trader, it can make things extremely difficult to follow.

Don’t Go Overboard with Leverage

another thing to keep in mind when you start forex day trading with just $100 is that you don’t want to use too much leverage. If you use way too much leverage, and you lose a trade, you will end up losing a whole lot of money that you just don’t have to spare, or that you don’t even have to begin with.

Generally speaking, as a beginner trader, using a leverage ratio of either 50 to 1 or 30 to 1 at the very most is recommended, and even this can be too much. As a newbie trader with such little money to spare, you really want to stay away from leveraging your trade as much as humanly possible.

Focus on the Trading Process

The other tip that you need to follow when it comes to day trading with just $100 is that you need to focus on the trading process, not on the profits period of course being able to make profits is a big deal, but with that being said your trading process is also important period in other words, what we need to say here is that you need to master some trading strategies that are effective and reliable.

Forex Day Trading with $100 – Final Thoughts

As you can see from the videos that we have included here today, Andrew was able to turn $100 into $1000 through some very simple forex day trading, and he did this in just four days. If you follow all of the rules and tips that we have provided you with here today, then there is no reason why you cannot do the same.

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Profitable Forex Scalping on Your Phone

October 26, 2021October 26, 2021 AndyLatest News / Latest News / NewsLeave a comment

Profitable Forex Scalping on Your Phone

If you plan on being a profitable trader, and one of the things that you absolutely need to learn all about is forex scalping. Moreover, today we are here not only to talk about forex scalping, but also about one of the best scalping strategies out there, mainly one that involves Fibonacci retracements.

Today we’re going to teach you one of Andrew’s best trading strategies, a profitable forex scalping strategy that you can execute on your mobile device. With this particular forex scalping strategy, you can make well over $300 per day using nothing but your mobile phone.

What is Forex Scalping

Before we can get into talking about Andrews best forex scalping strategy using Fibonacci retracements, it’s probably a good idea for us to explain to you exactly what forex scalping is. For those of you who don’t know what forex scalping is, this is a very specific type of trading that involves utilizing very short term trades in order to collect profits from the market.

When it comes to Forex scalping, traders will open positions in the markets and then close those positions within a very short amount of time, often within just mere minutes, or sometimes within mere seconds. The goal of forex scalping is to generate very small profits, but to generate a whole lot of them on a daily basis, with the main goal of minimizing risk while maximizing profitability.

Moreover, keep in mind that forex scalping is a type of day trading or intraday trading, as the trades never last more than a full day, and realistically, they don’t even last for a full hour. It’s all about generating lots of small profits over the course of a comma with the end goal being to accumulate a substantial profit at the end of every day.

Pros & Cons of Forex Scalping

Just as is the case with any trading strategy out there, forex scalping does have both its advantages and disadvantages, so let’s take a look at exactly what these are right now.

Pros

One big advantage that you get with Forex scalping is that you can bring in regular profits on a daily basis, unlike other strategies where it can take days or even weeks before you make a profit.
Another thing that is really beneficial about this type of trading is that you benefit from having a very low risk level per trade. this is because each trade features only a very small position in relation to the overall size of the total trading account. It’s all about only risking very small amounts of money.
What’s also nice about this type of trading is that it really doesn’t take much market movement in order for you to make a profit. You only need the markets move a couple of pips in order to make a profit.

Cons

One of the major drawbacks with this type of trading is that it can be very difficult to predict what the market will do on a minute to minute basis, which is of course necessary when it comes to super short term forex scalping. However, this is where Andrews Fibonacci retracement forex scalping strategy comes into play.
The other slight disadvantage that you get with this type of trading is that you have to be an extremely consistent winner in order to make profits. When trades are this small, your winter loss ratio must be excellent.

Andrew’s Profitable Forex Scalping Strategy for Mobile Devices

OK, so we honestly don’t want to get too deep into explaining this video using our words, because it is a somewhat complicated strategy to utilize, and therefore, it is best for you to learn it by actually watching the video itself.

Have you will see from the video Andrew uses a series of techniques that involved using Fibonacci retracements in order to find the best entry points into trades for forex scalping. For those of you who don’t know what fibonacci retracements are, is a method of technical analysis that helps to determine support and resistance levels. It’s named after the Fibonacci sequence of numbers, whose ratios provide price levels to which markets tend to retrace after a portion of a move, before that same trend will continue in its original direction.

We would usually provide you with step-by-step instructions on exactly how to utilize the strategies that Andrew discusses in his videos, but this one is slightly complicated, and you would benefit the most from actually just watching the whole video, because Andrew does everything live on screen. However, as you will be able to see from the video, Andrew is able to engage in Forex trading in a very reliable and accurate way, and it’s all thanks to these Fibonacci retracements.

Remember folks, this particular strategy that involves using support and resistance levels is designed to provide you with the maximum level of reliability, or in other words it’s designed to help minimize the level of risk that you have to engage in one trading.

As you can see from the video, as long as you follow all of the tips that Andrew provides you with, and as long as you follow his strategy very closely, it is more than possible to make $300 per day, or even more, using nothing but your mobile phone, a trading system, and some Fibonacci retracements. When it comes to beginner friendly forest scalping strategies that are easy to master, this is definitely one of the best ones out there. It’s safe, reliable, accurate, and profitable too.

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Easy Forex Scalping on Your Phone – Conclusion

If you plan on becoming a profitable forex trader, and you are just a beginner who wants to minimize your level of risk, then this particular forex scalping strategy that involves Fibonacci retracement, is definitely a good way to go with.

That being said, Andrew has plenty of trading videos and guides located on his YouTube channel, and if you are looking for some of the best trading strategies out there, besides this one, then we definitely recommend checking out this channel.

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Best Exponential Moving Average Scalping Strategy

October 22, 2021 AndyLatest News / Latest News / NewsLeave a comment

Best Exponential Moving Average Scalping Strategy

If you want to make profits in the world of Forex, and you want to make them today, then this five minute exponential moving average scalping strategy is for you.

Today, we are here to explain what is easily one of the most effective and beginner friendly trading strategies out there, the 3 EMA strategy for Forex scalping.

Today, you are going to learn all about moving averages, and we’re also going to teach you one of the best 5 minute scalping strategies that uses 3 exponential moving average lines to produce fast and reliable profits.

What is an Exponential Moving Average?

Before we can get to talking about Andy’s best 3 EMA trading strategy for Forex scalping, you first need to know what an EMA or exponential moving average is.

So, first off, a moving average or a simple moving average is a technical analysis tool used in many types of trading.

A moving average is calculated to identify the trend direction of a stock, currency pair, security, or anything else in between.

With a simple moving average, the closing prices of a security are added together and then divided by the number of closing prices (or periods) that were added together, thus providing you with a simple average of the closing prices over a given period.

Well, the EMA or exponential moving average places much more weight on the most recent prices used in the equation, thus being much more responsive and providing much more accurate signals for short term trading.

What is Forex Scalping?

Just so you are clear as to what this trading strategy is all about, when it comes to scalping, this is a specific type of day trading. Keep in mind that day trading or intraday trading refers to a style of trading where trades are open for a day or less. Now, when it comes to scalping, this is a very fast style of trading where traders use very short timeframes, usually no longer than 15 minutes.

In terms of Andy’s 3 exponential moving average scalping strategy, the timeframe he uses is 5 minutes. What you need to know here is that if you perform scalping trading the right way, you do stand to gain a whole lot of profits. It’s all about making a lot of small profits that add up to substantial gains over the course of a day. If done properly, this 3 EMA strategy will allow you to trade with minimal risk and maximum profit potential.

Best Exponential Moving Average Scalping Strategy

Ok, so what we are here to do right now is to take a closer look at the best five minute exponential moving average Forex scalping strategy that you can use in order to make consistent profits in a very short amount of time. As you will see from the video that we have included here, which shows you Andrew trading and profiting with this exact same trading strategy, if you can follow the simple tips and rules that he provides you with, you should be able to make some pretty decent profits no doubt. Keep in mind that you can use this strategy for any broker and trading platform.

Ok, so the first thing that you need to know here is that this is a 3 EMA strategy, or in other words, to make this strategy function, you need to have three exponential moving average lines. So, within your trading platform, go to the indicators section and select the EMA. Click on it three times in order to add three exponential moving average lines to your chart.

The next thing that you need to do is to edit all of your EMA lines. Go to their individual settings, and set the first one to input 21 and close 0, the second to input 9 and close 0, and the third line set to input 13 and close 0. Moreover, what you also need to make sure of here is that you are using a 5 minute chart, as this strategy will really only work for a five minute timeframe. If you use charts that have longer or shorter timeframes, you will get false signals.

Now, in terms of what you are looking for on your chart, you are looking for areas where the candlesticks do not touch your exponential moving average lines for at least 30 or 40 minutes. When the candlesticks are not touching the 3 EMA lines, what you are waiting for is the first candle to touch the EMA (any of the three lines) and when it does, count backwards 5 candlesticks, and out of those 5, look for the highest candle and the lowest candle.

As you can see from the video, these candles will then provide you with your entry into a trade, which in the case of the video example is a buy trade. In an upward trend, you are looking for the highest point in those 5 candles, and that will be your entry into a buy trade (when there is upward momentum). As Andrew notes in the video, you want to trade with the trend, and if you see a trend with strong momentum, then you really want to follow that trade.

Now comes the part where you will actually make money, exiting the trade. So, what you need to do here is to exit the trade at the next resistance level (if it was a buy trade) or exit the trade at the next support level (if it was a sell trade). As far as this exponential moving average Forex scalping strategy goes, this is more or less everything you need to know in order to make profits. If you are still confused, we recommend watching the tutorial video once more, as Andrew does show everything in great detail.

The Best 3 Exponential Moving Average Strategy – Final Thoughts

There you have it folks, the best 3 EMA or exponential moving average scalping strategy that can help you make quick, easy, and reliable profits when trading Forex.

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The Best Trend Indicators

October 19, 2021 Fabian FabianLatest News / Latest News / NewsLeave a comment

The Best Trend Indicators

As a newbie trader one of the most important things that you will need to learn is exactly how to identify trends, and how to identify the direction of a trend. If you as a newbie trader learn how to identify the direction of trends, your chances of being successful in the world of trading greatly increase. Now, what is important to note is that in order to identify a trend and the direction of the trend, you should be using the best trend indicators out there, and yes this is in part what we are here to discuss today.

However the problem when it comes to identifying trends and their directions is that one type of trader might see an uptrend whereas another type of trader might see a downtrend. a daily chart could look like there is an uptrend occurring, whereas an hourly chart could look like there is a downtrend occurring. Let’s get right to it and take a look at some of the best trend indicators out there, as well as how to use them, and what you need to avoid doing in order to make money when trading.

Identifying a Trend

One of the important things to note here is that a trend can look more like an illusion than anything else. The reason we say that a trend looks like an illusion is because depending on what your time frame is like, a trend can look very different. For instance, if you are looking at a 5 minute chart or a 15 minute chart it could appear as though there is a trend in the upward direction.

However, if you look at the daily chart for that very same asset, it might appear as though there is a downtrend occurring. the bottom line here is that when it comes to trends and trend indicators, it really depends on what kind of time frame you are using.

For instance, if you are a day trader, you should be using 30 minute timeframes and lower. As a swing trader you should be looking at one hour timeframes and four hour timeframes, and everything in between. If you are a position trader then you should be looking at 4 hour timeframes and above.

Using Price Action to Identify Trend Direction

Price action is all about reading the structure of a market, the momentum of a trend, and the sentiment to identify trading opportunities. In terms of trading, price action is one of the most important things that you need to learn because it provides you with extremely valuable insight to the market that you are currently trading in. Price action can tell you where traders are placing their stops and when new traders will enter the market.

There are three things to remember when it comes to price action, including that an uptrend consists of higher highs and lows, that a downtrend consists of lower highs and lows, and that arranges contained between the lows and the highs. with all that being said, identifying the direction of a trend when candle sticks are going all over the place can be difficult, so in the next section we’re going to learn how to identify a trend without using candle sticks.

Identifying Trend Directions Without Candlesticks

When there are tons of candle sticks with really long wet Wicks facing in all sorts of directions, things can be really messy, and it can make it hard for newbie traders to identify the direction of the trend. The simple solution to this problem is to use a line chart. For those of you who don’t know what a line track is, it is a chart that takes the price at the close and then connects closing prices together via line.

This takes the form of a squiggly on your chart that is much easier to read than those candle sticks. It’s pretty simple to read because if the line points higher than there is an uptrend, and if the line points lower than there is downtrend, and if the line is flat then it is arranged. However, with that being said the line tribe only considers the closing price, and that means that you won’t know what the high and low of a specific candle is, and this can be problematic. for identifying entries and exits using candle sticks or bar charts is best.

Using Moving Averages to Identify Trends

For those of you who don’t know, moving average is an indicator that summarizes the past prices, and is then plotted on your chart as a line. Sure, the moving average is a lagging indicator, but it’s not totally useless because it can help you identify the direction of a trend. a very simple technique to use is this, if the price is above the 200 MA line then there is a long uptrend but if the price is below the 200 MA line then there is a long downtrend.

You can also use a shorter term moving average, for instance if there is a strong trend the price will usually stay above the 20 ma line but in a healthy trend the price usually stays above the 50 MA line. Keep in mind that the moving average works best in a trending market. However if there is a range, then the moving average does not work very well.

Using Trend Lines to identify Trends

A trendline is a specific type of tool that you can draw on your charts, and it helps you identify both the strength and direction of a trend. When it comes to drawing trendlines, what you need to do is to look for at least two swing points, and then connect the swing points using a trend line, and then get as many touches on the trendline as humanly possible.

In terms of interpreting a trend line, if the line points higher than it is an uptrend, and if the line points lower than there is a downtrend. What you also need to pay attention to here is the angle of the trend line because the steeper the trendline is the stronger the trend is, and the flattered the line is the weaker the trend.

Trends & Trend Indicators – Final Thoughts

Now that you know what the four best types of trend indicators out there are, you can start easily identifying both the direction and the strength of a trend, with the hopes of you making consistent profits on a daily basis.

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Things that Professional Traders Do Well

October 14, 2021 Fabian FabianLatest News / Latest News / NewsLeave a comment

Things that Professional Traders Do Well

If you are just getting into trading, whether it be Forex trading, crypto, currency trading, the stock market or anything in between, the fact of the matter is that if you are a beginner, you probably don’t know how to trade. Of course, getting a good trading education is going to help a whole lot, but with that being said, no matter what kind of education you have, there are always things that professional traders do that newbies don’t.

In other words, what we are here to talk about today are the things that professional traders do very well. The things that professional traders do in order to profit. Of course, making profits is a big part of the equation, but minimizing risk is another part. As somebody who is just getting into the world of trading, there are many different tips and rules that you need to follow in order to be profitable and successful. Today, we’re here to talk about some of the things that professional traders do to make money, things that losers often forget to do.

Things That Make Money for Professional Traders

Right now, we want to talk about some of the most crucial things that you as a trader need to do in order to be profitable. These are all things that professional traders do on a daily basis.

Be Independent

One of the absolute worst things that you could possibly do in trading is to not be independent. There are all too many newbies out there who will go to various social media platforms, forums, and other unreliable sources of information. For tips and advice on trading. Most people will ask simple questions that can be answered through nothing more than a bit of research and testing. A lot of people will ask what is the best of this for that and so on and so forth.

You should not be asking what or when, but you should be asking why the fact of the matter is that there is no best trading strategy for any given situation, but a certain strategy may be best for a given situation based on a variety of factors. Therefore, you always need to be asking yourself why a specific trading strategy works or why a specific event occurred. You need to be able to think independently to create your own hypothesis and to test them by yourself as well.

You Need to be Willing to Put in the Work

One thing that professional traders do very well is to put in the required work, especially when it comes to testing out various trading strategies. For instance, one thing that you might ask yourself is whether a 10 week breakout or a 50 week breakout is better in terms of your returns relative to the risk. A lot of newbie traders might be tempted to just go online and type this question into Google.

However, the answers you get are going to be extremely varied depending on who wrote them and what situation they are talking about. Therefore what you need to be able to do is to go do some back testing. You need to be able to analyze both of those time periods for a variety of stocks and then come to your own conclusion. You have to get your hands dirty and be willing to do the work on your own, always relying on others for answers and information just isn’t going to work over the long run.

Managing Expectations

Yet another thing that professional traders do very well is to manage their expectations. Many newbie traders expect that they will be able to make a huge profit every single day and to be able to grow their trading account to 7 or even eight figures within just a couple of months. However, the unfortunate reality is that this just is not how life works.

When it comes to trading, sure you might get lucky, but the simple reality is that 99.9% of traders will completely bottom up and blow out their accounts by attempting to do this. Remember, trading is a marathon, not a sprint, and this means that you need to be calculated and you need to take your time. The simple fact of the matter is that you’re just not going to make profits every single day.

Managing Risk

The next thing that professional traders do extremely well is to manage risk. What you need to know here is that no range sustains all of the time that no market trends all of the time, and that no strategy works all of the time, and therefore you need to be able to manage your risk appropriately.

This means that you need to know how to size your positions, how to use reduced leverage, and how to use stop loss.

Moreover, you also need to consider how much of your total trading capital that you want to invest for trade. Most professional traders will never invest more than two percent of their trading capital into a single trade. Therefore, if you lose a trade, at least you don’t lose all that much money.

Keeping Emotions in Check

The other thing that you need to be able to do, something that all professional traders do very well, is to keep your emotions in check. Folks, emotions have no place in trading, none whatsoever. Trading is all about logical thought and reasonable deduction. Nothing more, and nothing less.

If you are on a winning streak, don’t get too overzealous, happy, and start placing huge trades, because losses are always around the corner.

On the other hand, don’t be too discouraged if you lose a few trades, because there are always greener pastures ahead. Stay calm, cool, and collected, and if you are using a proven trading strategy, stick to it. Remember folks, consistency is key.

Trading as Professional Traders Do – Final Thoughts

The bottom line is that if you want to emulate the results that real professional traders can achieve on a daily basis, starting with the above rules and tips is definitely a good way to go.

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Trading Lessons You Need to Learn

October 13, 2021 AndyLatest News / Latest News / NewsLeave a comment

Trading Lessons You Need to Learn

If you are a newbie trader then there are so many different things that you need to learn in order to be successful. This is true whether you are day trading, swing, trading or anything in between. And it also applies to all trading types, whether we’re talking about crypto currencies, forex, the stock market or commodities, the fact of the matter is that there are various trading lessons that you need to learn early on in your trading journey in order to be profitable.

Of course, as is the case when we first started trading, we also needed to learn these lessons and unfortunately we had to learn the hard way. Luckily for you, we already learned all of these trading lessons the hard way, so now we can convey all of this information to you so you don’t have to learn the hard way. If you read this article on the best trading lessons that you need to learn, then you can avoid making the same mistakes that all too many beginners make.

Trading Lessons for Success

What we want to do right now is to cover some of the most crucial trading lessons for success that you need to know in order to make money instead of lose it.

Consistency is Key

One of the biggest trading lessons that you will learn eventually is that consistency is key. Now what many beginner traders do is to choose one type of trading strategy or one type of indicator and then use that as much as possible. Now beginner traders will often win a couple of trades but then lose many more than they win.

Most traders will then move on to a different trading strategy because they think that the previous one didn’t work. Most traders will bounce back and forth between various trading strategies in the hopes that something awesome is going to come along people. The fact of the matter is that the trading strategies aren’t the problems.

Let’s face it, when you choose a trading strategy, you look it up online and you are going to use one that everyone else says is proven to work. This means that most trading strategies that you will utilize do actually work. The problem isn’t the trading strategies. The problem is you. You need to be consistent. Inconsistencies will lead to inconsistent wins and losses. Master a single trading strategy, make sure that it works and then if you like, move onto another one.

Your Strategy Needs to Have an Edge Over the Market

When it comes to the most valuable trading lessons that you need to learn. Although being consistent is of course very important, what you also need to realize is that you always have to have an edge over the market. The simple explanation here is that whatever trading strategy you choose to use over the long run, it needs to be profitable.

Or in other words, it needs to produce a positive result. The fact of the matter is that no matter how consistent you are, if your trading strategy does not produce a positive result in the long run, then you are going to end up consistently losing money.

Of course, in this sense, consistency is not a good thing. Now what you need to realize here is that it is possible to have an edge over the market with a low winning rate because your average gain is still at much higher than your average loss. But it is also possible to have an edge over the market if you have a higher loss than gain ratio because you’re winning rate is very high. Either way, you need to have an edge over the market and this is one of the most valuable trading lessons that we wish we knew when we first started trading.

Just Follow the Price

Yet another one of the biggest trading lessons that you need to learn as a newbie trader is that it’s usually best if you follow the price. If you don’t know how to do analysis or you just don’t have time to crunch all of those numbers, then what you should do is to follow the price.

If the price is moving higher, you should place buy trades and if the price is moving lower, you should place sell trades. Another piece of advice that you should follow is to always pay attention to the price no matter the fundamentals. Therefore, if you see that the price is going up, but you think that there might be a bearish reversal in the horizon, you should still follow the price, especially as a newbie trader.

There is No One Size Fits All Strategy

In terms of valuable trading lessons that you need to learn as a newbie, this one is perhaps the most important. The fact of the matter is that many traders think that there is some kind of one size fits all trading strategy which some people refer to as the Holy Grail. Sure, it’s some trading strategies are much better than others. This is true.

However, the fact of the matter is that every market is different, and every type of trading is different too. This means that a trading strategy that works well for Forex swing trading is probably not going to work well for cryptocurrency day trading. Each trading strategy is specifically designed for specific markets, and the sooner you figure this out, the better you will perform.

It’s Not a Get Rich Quick Scheme

The next of the Super valuable trading lessons that you need to learn is that trading is not a get rich quick scheme, but in fact is a get rich slow scheme. You can easily grow your trading account to 7 figures or even eight figures, but it does take a long time.

The fact of the matter is that slow trading, or in other words, placing many small investments, is much better than placing just a small amount of big trades in the hopes of making it big.

Sure, you could win a whole lot of money in a limited amount of time, but as soon as you lose a single big trade, the journey is over. Therefore, what you want to do is to take the slow approach, because if you engage in proper risk management, your chances of winning trades are much higher. It’s much better to make slow profits than it is to lose money. It’s as simple as that.

Trading Lessons for Newbies

The bottom line here is that if you pay attention to the various trading lessons that we have provided you with here today, your chances of becoming a profitable and consistent trader increased greatly. Remember folks, these are lessons that we wish we knew when we first started trading. Luckily for you, you can get right past making the errors and get right to trading the proper way.

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Best Trading Practices for Beginners

October 12, 2021October 15, 2021 AndyLatest News / Latest News / NewsLeave a comment

Best Trading Practices for Beginners

Of course there is simply no doubt about the fact that trading the market can be extremely profitable, and this is true whether you are trading crypto currencies, forex, the stock market or anything in between. However, with that being said, if you are a beginner who is just getting into the world of trading, then you are probably going to be making a whole lot of mistakes. Moreover, there are also some very good trading practices for beginners that you need to be aware of.

Many people just start training without any kind of training or education, and this is of course a problem because you really don’t know what mistakes that you need to avoid and what things that you need to do in order to be a profitable trader. What we’re here to do today is to take a look at the very best trading practices for beginners that will keep you safe and allow you to make consistent profits without too much risk. Let’s get to it and teach you how to be a consistent and profitable trader by talking about some of the best trading practices out there.

Best Newbie Trading Practices

Right now we want to talk about five of the very best trading practices that you, as a newbie, need to be aware of in order to be successful.

Don’t Tell Everybody

OK, so this might seem like a very odd trading practice, but the fact of the matter is that as a beginner trader, you really shouldn’t be disclosing the fact that you have started trading, especially not to friends and family. This might seem a little odd, but the reason for it is because when you start trading, the first thing that everybody is going to ask you is whether or not you are making money.

Sure, if you are a super profitable trader, then disclosing that you are becoming rich by trading is not a big deal. But with that being said, as a beginner you are likely losing money and in telling people as much is just not going to make you feel good. There’s just no point in telling people that you are starting off in trading because people end up being quite skeptical and they might destroy your motivation.

Don’t Trading Personally

When it comes to the best trading practices out there, one of the things that you absolutely need to stop doing is taking it personally. It’s really easy to blame the market for targeting you or to blame your broker for hunting your stop loss. But with that being said, when it comes down to it, there is nobody at fault here but you.

The simple reality is that the market is absolutely massive and there are billions of dollars floating around with thousands of players. There is absolutely no incentive for the market to hurt you or for your broker to care about you.

The simple reality here is that the financial markets are rigged and it’s always a lot easier to lose money than it is to make it. This is nothing personally whatsoever, and if you start getting emotional about trading, then chances are that you are going to end up suffering huge losses due to making emotional decisions as opposed to using rational and logical thought.

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Don’t Hit the Ground Running

OK, so many things in life will be beneficial if you hit the ground running, but with that being said, trading is not something that you should start off big. When it comes to trading, you absolutely need to start small and this means investing only minimal amounts of money into minimal amounts of trades.

If you start off trading with $50,000 then chances are that you are going to lose it, especially if you are a beginner. Just start with a small trading account because you don’t want to risk too much money on a single trade and you also don’t want to have to pay huge fees for large trading accounts.

Get an Education

As far as the best trading practices for beginners go, one of the most important things that you need to do is to get a trading education. Without the proper kind of trading education in training, you simply aren’t going to be profitable. The fact of the matter here is that trading, whether it is forex, crypto, currencies, or anything in between involves many different facets.

You need to know all about how to analyze the market, how to use indicators, how to read charts, and so much more. There are also many different kinds of trading, such as day trading, swing trading and more.

There are also many different markets that you can trade in, such as the cryptocurrency market, the Forex market, the commodities market, the stock market and more. The main point here is that you should join some kind of trading school or Academy in order to learn everything that there is to know before you start trading. The more you know, the better prepared you will be and the less risk you will have to deal with.

Risk Management is Key

Perhaps one of the best trading practices that you need to master as a beginner is risk management. First of all, this means knowing when to cut your losses and went to exit a trade when you are wrong. Moreover, this also means knowing how to use stop loss levels and how to set your stop loss levels at appropriate levels in relation to your trades.

Moreover, as a beginner, it is strongly recommended that you do not risk more than 1% or 2% of your total trading capital in a single trade. If you risk a whole lot of money in a single trade and the trade goes South, then you lose it all. Also remember that stop loss and position size are closely related as well.

Best Trading Practices for Beginners – Final Thoughts

The bottom line here is that if you follow the five best trading practices that we just talked about today, then your chances of becoming a profitable and successful trader who has the ability to make money on a consistent basis greatly increase.

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5 Trading Mistakes That Keep You Poor

October 8, 2021October 13, 2021 AndyLatest News / Latest News / NewsLeave a comment

5 Trading Mistakes That Keep You Poor

if you have just started out in the world of trading. Whether you are trading crypto currencies, forex, the stock market or anything in between, the simple reality is that there are a lot of rules and tips that you need to follow in order to be successful. Make no mistake about it because trading is not easy. Without the right skills and knowledge, you just aren’t going to be successful. Therefore, what we are here to talk about today are the biggest trading mistakes that keep you poor.

Now there are of course tons of mistakes that traders can make, but with that being said, some trading mistakes are much worse than others. Moreover, there are many trading mistakes that all too many newbie traders commit that they don’t even realize these are mistakes that keep you poor without you even realizing it. What we are here to do today is to take a look at the biggest trading mistakes that keep you poor and that you need to avoid at all costs.

Trading Mistakes That Keep You Poor

Of course there are plenty of trading mistakes that you might make, all of which could very well keep you poor, but with that being said, today we are here to talk about the biggest trading mistakes that you absolutely need to avoid at all costs.

Using Fixed Position Sizes

When you start straining, you’re probably going to be extremely concerned with things like candle stick patterns, trading indicators, and all sorts of technical analysis tools.

With that being said, what a lot of traders do when they see something nice, or in other words, a trade that looks like it has the potential to make a good profit, is that they will just place trades without paying attention to the position size. The issue here is that if you do not size your positions properly, your wins and losses are going to be very erratic.

The most important thing that you need to do here is to adjust your position size based on your stop loss. The tighter your stop losses, the larger your position size can be without risking too much money. Learning all about position sizing is an extremely important thing and not sizing your positions properly is one of the biggest trading mistakes that all too many newbies make.

Chasing Markets

Yet another one of the biggest trading mistakes that all too many newbies make is that they chase markets. In other words, some people will see that there is a huge bullish pattern happening and that it’s already been going on for quite some time.

So people think that they should place a buy trade now so that they don’t miss out on any more of the profits. However, with that being said, as is the case, all too often the market will reverse go into a bearish mode and cause you to lose money on your buy trade.

In other words, one of the biggest trading mistakes that newbies make is to buy near the highs when they should be looking to short a trade. Markets that are already near their highs are totally exhausted and will often make pullbacks. One of the most important things to lookout for here is an area of support when the market is in an uptrend.

Hesitating to Cut Losses

Perhaps one of the most biggest and most crucial trading mistakes that newbies make is that they hesitate to cut their losses. A lot of people, when they are suffering losses, might think that the market will rebound or that there will be some kind of pullback which will then lead to them making profits. Even if the trade is currently losing.

A lot of people think that they will look really stupid or look like idiots if they sell their position now only to watch the market reverse even higher.

People end up holding onto losing trades for way too long before they end up cutting their losses, but of course by that point the losses have amounted into something quite significant. A small loss of $100 can quickly amplify into a loss of $1000 if you don’t cut your losses. As soon as you see them happening. Don’t hesitate to cut your losses.

Attempting to Average Into Losses

Yet another huge trading mistake that many newbies make is to try to average into losses. In other words, if you are suffering a losing trade, some people will attempt to buy more of that same asset with the hope that it will then increase in value.

However, this is closely related to hesitating to cut your losses, because here newbies will actually buy more of the same asset in the hopes that it will average out their losses and maybe lead to a break even. The bottom line here is that you should never average into your losers because it often snowballs into something much worse.

Getting Useless Info From Others

Yet another huge mistake that so many newbies make when trading is that they try to get their trading information from sources such as Facebook, Twitter, an random trading forums.

We know that this next statement is about to sound critical, but the fact of the matter is that most of the people that you get your information from, especially on those forums and social media platforms, are stupid and misinformed people who don’t know the first thing about trading.

Don’t go to Twitter for trading information. It’s no different than saying that it’s better to get your news from an actual news outlet rather than from a social media site. While some people using social media and who write on forums might very well be correct, the simple reality is that you have no way of knowing who is right and who is wrong.

You should never trade based on the opinion of others. You need to do your own research and analysis. Master a variety of trading techniques and learn how to use indicators so you can make your own judgments.

The Bottom Line

The bottom line here is that if you can avoid these five massive trading mistakes that ultimately newbies make, then you are well on your way to success. Of course, there is a whole lot that you need to learn in order to be a successful and profitable trader, but with that being said, if you manage to avoid the massive trading mistakes that we have talked about today, then you’re definitely on the right track.

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How to do Demo Trading

October 7, 2021October 13, 2021 Fabian FabianLatest News / Latest News / NewsLeave a comment

How to do Demo Trading

If you would like to start profitably, whether it is Forex, cryptocurrencies, the stock market, or anything in between, something that you may want to try doing is demo trading. For those of you who don’t know what demo trading is, it’s just like a great way to practice your trading skills without having to risk real money.

Now, with all of that being said, although demo trading does not force you to trade with real money, there are still certain risks involved. Moreover, there are also some crucial tips that you need to follow, because if you engage in this type of trading improperly, you will set yourself up for failure once you start trading with real money.

Today, we want to provide you with an in depth guide on demo trading, complete with all of the benefits and drawbacks that it comes with, the mistakes that you need to avoid making, and how to do it properly.

What’s the Story with Demo Trading?

Alright, so for those of you who don’t know what demo trading is, this is a type of trading that allows you to test out a trading platform without having to trade with real money. This could be for a standalone trading platform, or it could be a broker’s trading platform.

The bottom line is that this is all about trading without using real money, kind of like practicing your real estate skills by playing monopoly, but actually useful. In other words, demo trading involves using a trading platform just like you would with real money, but with virtual money.

This allows you to trade under real and live market conditions without having to put your own money on the line. As you can tell, this has the potential to be extremely beneficial for any newbie trader.

The Benefits of Practice Trading

Now, you might be wondering why you would actually try demo trading. After all, if you could trade with real money and make profits, why wouldn’t you skip the practice round and get right to the real stuff? Well, there are actually quite a few reasons why using a demo account for a trading platform is a good idea. So, what are they?

Of course, the biggest benefit of this type of practice trading is the fact that you get to test out a variety of trading platforms, thus allowing you to see which ones are functional and which ones are not. It’s all about being able to master the navigation and functions of a specific platform.
Moreover, the fact that you get to test out trading itself is a big deal too. Not only will you get a good feel for what trading is all about, but you’ll also figure out what type of trading is best for you, whether swing trading or day trading, or maybe scalping too.
It’s a great way to figure out what markets you want to trade on, whether the stock market, cryptocurrencies, commodities, Forex, or anything in between.
Demo trading accounts are also great ways for people to test out a variety of trading strategies to see what works and what doesn’t all without having to risk real money.

Certain Risks & Drawbacks

For all of the pros and benefits that demo trading accounts come with, there are also some very real dangers that you need to be aware of as well. Let’s take a look at the some of the drawbacks of this kind of practice trading.

One of the biggest drawbacks to demo trading is that you just don’t have any kind of emotional attachment to your money. So, you lose $10,000 on a demo trade, but of course, it’s not real money, so it doesn’t really hurt they way it should. With a real trading account, you will make corrections and change your strategy to stop losing, with a demo account, you might just reset everything and try again, all without making the necessary adjustments. This is a good way to develop bad trading habits.
People tend to just spend far too much time demo trading, and this changes the way people react to winning and losing trades. You’re just not going to respond the same way if you lose fake money as opposed to real money. Of course, there is also the simple fact that you won’t make any money either.
Another issue with demo trading is that you might not actually try to use any risk management strategies. If you don’t use risk management when practicing, you’ll probably forget to use it when trading with real money. If real money is not on the line, people are far less inclined to practice and develop good risk management strategies.

Demo Trading the Right Way – Crucial Tips

We want to finish things off by providing you with some of the most important tips that will allow you to practice all of your trading skills using a demo trading account without developing bad habits. Nobody says demo trading accounts are bad, but you do want to follow these tips in order to avoid the risks discussed above.

You absolutely need to develop a trading plan, and this needs to be the same plan you will use for real and live trading. So, you need to figure out what your trading method and style is, what markets to trade, the timeframes to trade on, when to exit to take profit, when to exit to stop losses, and how to apply position sizing.
You also definitely want to employ a solid routine, one that will allow you to check your charts, place trades, and keep track of them, all without interfering in your daily life. You could look for opportunities early in the morning, trade from morning until noon, and then spend the evening reviewing results.
You should also base how long you engage in demo trading for on what type of trading you are engaging in. If you are day trading, which is a high frequency type of trading, then a month or two will do, but if you are practicing swing trading, you might want to use a demo account for 3 or 4 months. You need to practice for long enough until you have ironed out all of the wrinkles.
All of that being said, the biggest tip here is to spend as little time as possible demo trading, just enough until you feel comfortable enough to start risking real money. This is the best way to figure out how you will react to both winning and losing money, and it’s the best way to build confidence. Remember, always start with very small investments, then once you start winning some trades, you can move up. Of course, you want to start real trading as soon as possible because it’s the only way to actually make money.

The Bottom Line on Demo Trading

The bottom line here is that you should definitely do some demo trading before risking real money, but that said, you do want to follow the tips that we have outlined here today, in order to avoid those risks and drawbacks that we discussed earlier.