Personal example of making money on Forex
On the Internet, the myth is very actively walking that only banks and
large players earn on the Forex market whose capital is measured by millions of dollars.
Moreover, this statement of simple traders is compared with a small fish, which is maximum what is capable of avoiding danger in time, and in most cases it is a conventional food.
Such allegations with a philosophical context can be seen on any forex forum or site where the failure of the trader is looking for a global excuse, but cannot understand that he himself is the reason for his mistakes.
Also, traders are constantly trying to come up with complex algorithms, complicating their lives and not understanding that simple capital rules that are written by smart people work in books to this day, because the market consists of people, which means that all the qualities of a person who are unchanged for centuries are characteristic.
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.
However, we have our opinion about the news trade, since we have repeatedly conducted research on their influence. The essence of the news is reduced to the fact that the average or strong news is selected for a particular tool, the previous value of the indicator is analyzed and at the moment when the updated indicator comes out to enter the position.
In my case, I was selling the news “Changes in the number of employees in the US Non -Earth Sector” according to the pound/dollar currency pair. The charm of work in the news is that you do not have to be an economist, because any economic calendar describes its influence.
As you can see in the image, positive data on the dollar came out, which means that the pound schedule will go down. Consequently, we opened a position for sale, and Stop established the order near the nearest local maximum. I would like to add that at the time we thought the price managed to go 30 points down as expected and return to the starting point with which we sold the pound.
The vast majority of traders immediately came out of the market, since many believe that the news is influenced only at the time of the release of the news. However, during the analysis of the news “ Changes in the number of employees in the US Non -Earth Sector ”, which was conducted earlier, we know that the effect of it can last 10 hours. Therefore, we did not close the position, but waited for the complete completion of the transaction. We look below the result:
As you can see, having kept the transaction before the end of the day, the price really passed 110 points, and the profit from 1 transaction amounted to $ 22, and this is only $ 100 with a deposit.
The second personal example of earnings in the Forex market is based on a simple investor trading strategy.
The condition for the opening of the transaction is the choice of a tool with a clear long trend at the older time frame . As you understand, it is necessary to open a position towards the trend and hold as long as possible until the signs of a turn appear. For example, we look at the picture below:
According to the same scheme, a number of orders were opened, and the positions were held only for one day. The result of open transactions we look below:
Agree, the result of trade is more than convincing and this despite the fact that during the discovery of transactions, no complex systems or indicators were used. You will probably say that this is a coincidence or ordinary photoshop, but I want to attach a real trade report on the above trading strategy on your argument:
Perhaps the report does not look as beautiful as on various sites where you are offered to buy trading strategies or advisers, but unlike fake beautiful painted schedules, you were able to see my personal example of earnings on Forex without any falsehood.