These champions have one thing in common: they not only work their butts off, but they also enjoy what they do.
"Patience is the key to everything," American comic Arnold H. Glasgow once quipped. The chicken is gotten by hatching the egg rather than crushing it."
Ask any Wall Street quant (the highly nerdy math and physics PhDs who build complicated algorithmic trading techniques) why there isn't a "holy grail" indicator, approach, or system that generates revenues on a regular basis.
We've designed the School of WikiFX as simple and enjoyable as possible to help you learn and comprehend the fundamental tools and best practices used by forex traders all over the world, but keep in mind that a tool or strategy is only as good as the person who uses it.
Never make the first move unless you're a good-looking dude or gal trying to win over your crush. What we mean is that you should not always get in when the market is moving so swiftly.
After gaining a few pips, the price reverses and he is stopped out. He gets another signal a few minutes later. It's time to short EUR/USD this time.
While it is true that you can make money quickly, this does not guarantee that you will be profitable in the long run.
Congratulations! You've read the entire School of WikiFX, and now you have all you need to rule the forex market, retire in a year or two, and travel the world in your Gulfstream G700TM jet, right?
Forex trading scams is real! And it's happening all the day especially to those traders that lacks skills and experience to look for verified and legit broker to use for trading. Of course bad people are out there trying to make a dishonest living.
Despite the forex market is the largest financial market in the world, it continues to be largely unregulated, in the essence that most of the brokers involved are unregulated. This is because There is no organization that monitors and oversees the currency trading occurring all over the world in the interbank.
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the United Kingdom. Both of these institutions took over as the financial industry's regulatory bodies on April 1, 2013, after the Financial Services Authority (FSA) was decommissioned.
Beware of forex broker rip-offs! Some brokers, believe it or not, "steal" from their customers. Manipulation of bid/ask spreads is one way they achieve this.
A "professional" trader may provide trading signals (for a price, of course) for clients to act on, in addition to maybe employing an automated program.
Expert Advisors (commonly known as EAs) and other automated trading systems are included in Forex robot frauds.
You've probably heard or seen something similar on TV commercials, pop-up advertising on the internet, or even from your next-door neighbor.
An investor "invests" with a "professional" trader, who trades the investor's capital for a percentage of the profits.
What makes a good trader different from a bad trader? A competent trader understands that trading takes patience, discipline, and a trading strategy tailored to their unique psychological profile.
If you're new to forex trading, bear in mind that most novice traders benefit from keeping things simple.
Do you want to understand how to make all of the money you just put into your trading account vanish as quickly as possible? In less than ten days?
Many traders unwittingly harm their own trading and aren't even aware of it. They have only themselves to blame if their account reaches zero.