Personal example of making money on Forex

There is a very active myth circulating on the Internet that only banks and large players, whose capital is measured in millions of dollars, make money on the Forex market.

Moreover, in addition to this statement, ordinary traders are compared to small fish, which, at most, is capable of avoiding danger in time, and in most cases is ordinary food.

Such statements with a philosophical context can be seen on any Forex forum or website, where a failed trader is looking for a global justification, but cannot understand that he himself is the cause of his mistakes.

Traders are also constantly trying to come up with complex algorithms, complicating their lives and not understanding that simple rules that are written by smart people in books still work to this day, because the market consists of people, which means it is characterized by all the qualities of a person that remain unchanged throughout centuries.

To finally debunk the myth that it is impossible to make money on the Forex market, I decided to show a personal example of making money on Forex. Of course, in this article you will not see all the financial ins and outs, but using the example of some transactions, you will be convinced that this is not only possible, but also not so difficult.

The first trade example I would like to show you is based on news trading. There is always a debate about the impact of news on price movements, with some arguing that they have virtually no effect on the market.

However, we have our own opinion about news trading, since we have repeatedly conducted studies on their influence. The essence of working on news comes down to the fact that average or strong news for a certain instrument is selected, the previous value of the indicator is analyzed, and at the moment when the updated indicator is released, a decision is made to enter a position.

In my case, I traded the news “Changes in the number of people employed in the US non-farm sector” on the pound/dollar currency pair. The beauty of news reporting is that you don't have to be an economist, because every economic calendar describes its impact.

As you can see in the image, positive data on the dollar has been released, which means that the pound chart will go down. Consequently, we opened a sell position and placed a stop order near the nearest local maximum. I would like to add that while we were thinking, the price managed to go down 30 points as expected and return to the starting point from which we sold the pound.

The vast majority of traders immediately exited the market, since many believe that news only has an impact when the news is released. However, in the course of analyzing the news “ Changes in the number of people employed in the non-farm sector of the United States ”, which was carried out earlier, we know that the effect of it can last 10 hours. Therefore, we did not close the position, but waited for the transaction to be completed completely. See the result below:

As you can see, having held the trade until the end of the day, the price actually went through 110 points, and the profit from 1 trade was $22, and this was with a deposit of only $100.
The second personal example of making money on the Forex market is based on a simple investor trading strategy.

The condition for opening a transaction is to select an instrument with a clear long-term trend on higher time frames . As you understand, you need to open a position in the direction of the trend and hold it for as long as possible until signs of a reversal appear. For example, look at the picture below:

A number of orders were opened using the same scheme, and positions were held for only one day. The results of open trades are shown below:

Agree, the trading result is more than convincing, and this despite the fact that no complex systems or indicators were used when opening transactions. You will probably say that this is a coincidence or an ordinary photoshop, but in response to your argument, I want to attach a real trading report using the above trading strategy:

Perhaps the report does not look as beautiful as on various sites where you are offered to buy trading strategies or advisors, but unlike fake beautiful drawn charts, you were able to see my personal example of making money on Forex without any falsehood.