Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Wednesday, 1 April 03:06 (GMT -05:00)

Foreign exchange market

"Forex Is A Scam" and Other Popular Myths About Forex

Almost each and every beginning forex trader who lost their money while trading forex thinks they have been scammed for money. Very few of them can actually face the truth and take a look at the situation at a different angle. Strange as it may seem, But such traders eventually succeed in financial markets and get rich trading them. Well, if you think for a while, that becomes quite obvious because such people aren't afraid of analysing the negative situation and drawing the right conclusions to avoid repeating those costly mistakes in the future. Those who learn from their own mistakes instead of repeating them over and over again, can eventually succeed in this business.
With that being said, let's assume that you are interested in forex trading and now you have decided to learn the ins and outs of this career opportunity. Probably, the best way to learn more about forex is to take an online course or consult a practicing trader who can already boast making good money in forex trading.
Apparently, not all of us can get this kind of an opportunity. Some people simly start searching the web for the right information but get incorrect information instead most of the time. Like many other careers out there, forex trading may seem like a riddle wrapped by a mystery. It's surrounded by tons of controversial and even fake information. We think that before you actually make your decision on starting you forex trading career, you need to know at least about the most widespread myths related to forex. That's why we decided to come up with this article telling you about those myths. So, without further ado, let's go ahead and dive into the world of forex myths.
This is what almost all newbies think. Well, this can be true to some extent. Technically, simply buying and selling currencies online is not that hard. However, making money from doing so on a regular basis is harder than one might think. To make your forex trading profitable in the long run, you need to gain expertise. Simply put, newbies will have to devote a decent amount of time to learning and mastering the skills essential to profitable forex trading. And they will have to be patient since before they start enjoying consistent profits they will have to train hard for the sake of gaining that valuable expertise rather than making good money. Once again, the best way to kickstart your trading career in the right direction is to learn from the best. However, you should keep in mind that every successful trader has a personal strategy. You will have to develop your won as well.
Some people do really believe that forex is some kind of a casino topcasinoexpert.com where you can only gamble, without any serious moneymaking activities possible in the long run. Well, while you can really gamble when trading forex, it only depends on your skills and your approach to forex. In reality, an exchange can be treated as something representing an economy. Economies are driven by various events, and there is logic in that. Gambling doesn't have anything in common with logic, which means that if you try forex gambling, then that's amateurish and even foolish.
This is probably, the most widespread myth. Many of those who failed, keep on saying that forex is a scam. This is not the case. Forex is a market where traders are responsible, or at least the should be, for the results of their own trading decisions, whether well through-out or spontaneous ones. Forex itself is not a scam., However, what you should really watch out for is the increasing amount of scam brokers and other kinds of scams selling you 100% winning strategies, trading robots, or offering you unimaginable trading conditions. So, please be careful when choosing which broker to go with and which strategy or trading robot to use.
Well, this used to be true a couple of decades ago when the forex industry was making its first steps. Everything has changed since then. Some brokers allow you to start with a couple of bucks after you have practiced enough on demo accounts and then on cent accounts. You are strongly recommended to open really full-fledged trading accounts and deposit substantial amounts of money only after you have been showing stable profits for at least several months. There are traders who managed to start with literally no money and progressing all the way up to making thousands of hundreds of dollars.
Well, this is obviously not the case! Financial markets are subject to price fluctuations, which they call market noise. However, those fluctuations are definitely not of spontaneous nature. The thing is that when you open a trade, there should be someone to match your offer at the other side. Millions of such trades drive the price up and down. It has nothing to do with spontaneousness. As for longer-term price moves, they are driven by political and economic events to an event greater extent. That's why they can be predicted and benefited from.


You are free to discuss this article here:   forum for traders and investors


Add to blog
Got a question? – Ask it here »

Binance and Cryptocurrency Exchange

These days, Binance is a a giant in the world of cryptocurrency exchange. It wont' be an exaggeration to say that this is a Microsoft or a Mercedes in the world of cryptocurrencies. This is a major brand and a symbol of security for those investing in Bitcoin and other digital currencies.

Publication date: 29 March 11:24 PM

Dollar Becomes Safe-Haven Asset Amid COVID-19 Pandemic

Publication date: 22 March 07:48 AM

Fed Cuts Interest Rates. What Does It Mean For Bitcoin?

Publication date: 17 March 12:14 AM

Fed Cuts Interest Rates Again Amid COVID-19 Pandemic

The U.S. Federal Reserve, which can be considered the world's most influencial central bank, has been really serious about the COVID-19 pandemic going on around the world. For the first time in the history of the Federal Reserve, the central bank has done it twice within a couple of weeks. This time, the key interest rate was cut by 100 basis points, which brought it very close to zero. To be more specific, during the recent urgent FOMC meeting that took place on Sunday, March 15th, the FOMC members almost unanimously decided to cut the interest rated from 1,00-1,25% all the way down to 0,00--,25%.

Publication date: 16 March 07:57 AM

Coronavirus's Impact On Markets Intensifies, NordFX

The period when the coronavirus makes everyone stay at home can be seen as a perfect time for traders and investors to do some extra trading and investing. To help both rookies and seasoned traders and investors to navigate the markets and see the current tendencies much clearer, NordFX has come up with yet another weekly set of forecasts:

Publication date: 15 March 12:17 PM

France Recognizes Bitcoin

Publication date: 06 March 10:14 AM

TOP 5 Bitcoin Investors

Cryptocurrencies have offered really stunning moneymaking opportunities to a big number of people out there. This is due to the fact that getting started with investing in cryptocurrencies is relatively easy and affordable to pretty much anyone. Making money with cryptocurrencies is possible, which is confirmed by the world's leading Bitcoin investors. So, in today's article we are going to talk about the top 5 Bitcoin investors.
Publication date: 05 March 10:33 AM

BoJ To StaBilize Markets. Any Consequences For BTC?

Publication date: 05 March 09:21 AM

Trading Approaches, As Seen By Professionals

Each and every trader out there should choose the right trading approach that will suit them best. Trading experts say that are 6 trading approaches:

Publication date: 22 February 12:39 PM

Dollar Grows Versus Euro. BTC Is At $9000. Trump And His 'Deal Of The Century'.

It seems that the Chinese coronavirus is gradually becoming the biggest driver in financial markets. At the same time, Donald Trump has recently announced another version of his peace plan for the Middle East. If this agreement manifests itself, then you may expect major changes in exchange rates.

Publication date: 05 February 12:51 AM