How to make money on your forex clip. Making money on Forex or how I got acquainted with Forex

Forex is a financial market where currencies are sold and purchased. By playing on the difference in exchange rates, you can make a profit from tens of dollars to amounts with several zeros. This process is called trading. How successful it will be depends on the knowledge, experience, chosen strategy and luck of the player, as well as on the initially invested amounts.

Anyone can become a trader, but only a few can join the list of millionaires who made a fortune on Forex. In contrast to them, there are a lot of negative examples when traders lost all the money they earned and invested. Whether there is a golden mean and what needs to be done in order to find it, you will learn from our review.

How much can you earn on Forex?

Cases of grandiose enrichment on Forex would not go down in history if they were recorded daily. In addition, many traders, having received large profits, often lose their vigilance, make mistakes and lose everything. A successful trader earns on average 10–20% per month of the amount he deposited into a deposit account and put into circulation. The larger the deposit, the lower the risks, because you can trade for a lower percentage, but in absolute terms get good money. Therefore, the main thing for a professional trader is to be able to maintain and increase the size of his deposit in order to receive a constant income from it. Traders prefer not to talk about their earnings again. There is some superstitiousness inherent in this, which is inherent in any professional players.

His example is science for others, or Who really made money on Forex

Those who dream of hitting a big jackpot tomorrow, improving their financial situation once and for all and resting on their laurels for the rest of their lives will be disappointed: millionaires who made a fortune on Forex have been working toward this for years. Thus, one of the legendary traders, Richard Dennis, actually managed to earn more than $200,000,000, but his profit from one trade was approximately 5%. Our compatriot Vladimir Kholodetsky also became a millionaire by trading Forex. However, he studied this hard for six months and earned $110,000 in seven months of trading. This result would suit many - the question is whether you are ready to constantly invest time, effort and money to achieve it. In addition, talent is also required.

Forex for beginners, or How to start making money without experience or money?

Currently, the cost of entering the market can be negligible - many brokers offer to open a deposit starting with a symbolic amount of $1. It is clear that the profit from such an amount will also be negligible, so clients are provided with leverage in a ratio of up to 1:500. This means that with a deposit of, for example, $10 for Forex transactions, you will have access to $5,000, $4,900 of which is provided for temporary use by the broker company. However, access to the remaining amount of money is automatically terminated as soon as you lose your own $10.

It is not necessary to invest a huge amount of money at once; $300–400 is enough to gradually achieve a stable income. Of those who made money on Forex, many started this way.

Step 1. Choose a broker

Among Forex brokers, there are companies registered in Russia, operating within the framework of Russian legislation and licensed by the Central Bank of the Russian Federation. They meet the requirements set by the domestic regulator and comply with its instructions. The main required conditions are the amount of equity capital - it must be at least 100 million rubles - and participation in the work of a self-regulatory organization accredited by the Central Bank of the Russian Federation. There are currently only four companies licensed by the Central Bank: Alfa-Forex, Finam Forex, VTB Forex and PSB Forex.

There are also forex brokers registered abroad and located under foreign jurisdiction. In this case, the regulator that controls the work of these brokers may be, for example, the National Bank of the Republic of Belarus, the US Commodity Market Commission, the German Federal Financial Supervisory Authority, the independent financial commission FinaCom PLC LTD, and so on.

Typically, all major brokers, being interested in the trader’s earnings, provide free access to educational materials, and also organize paid courses and seminars.

Step 2. We undergo training

Without training there can be no successful trading. It is better to invest more money in specialized education and start trading with a smaller deposit than to regularly lose money due to lack of knowledge. You can learn the basics of trading for free: video courses, books, webinars, forums - all this is available on the Internet. Try to take every opportunity to gain new knowledge, and remember that a true professional is constantly learning. Even successful traders do not neglect the opportunity to take a paid course that interests them in order to improve their level and learn from experts. Unfortunately, there is no universal step-by-step instructions on how to make money on Forex consistently and regularly.

Step 3. Choosing an approach

Having received theoretical knowledge about the subject, you can proceed to training on a demo account. A demo account on Forex is convenient because it allows a novice trader to study the functional features of the trading terminal and begin monitoring market conditions, using technical analysis indicators, drawing trend lines, concluding transactions - in a word, everything that will have to be done when working with a real account. Since the money in the account is virtual, all actions occur absolutely painlessly for the player’s wallet.

Vladimir Kholodetsky, who earned $110 thousand on Forex in just seven months of trading, already having an economic education, practiced trading on a demo account for about six months before starting to make transactions with “real” money.

When you feel confident in your own abilities, after training on a demo account, you can move on to real trading.

1. Define short-term and long-term goals

First, you must imagine what your trading tactics will be. To do this, you need to set your priorities correctly by choosing:

• currency pairs for trade;
• entry point : what needs to happen for you to open a trading position;
• exit point : under what conditions will you close the deal;
• timeframe - time interval in which you will trade;
• allowable loss - for one transaction and the entire trading day

Depending on the timeframe, there are short-term or intraday (30 minutes–1 day), medium-term (2–7 days) and long-term (up to several months) trading. The shorter the timeframe, the higher the risks. Short-term Forex trading is usually done with a small deposit in order to earn money as quickly as possible. In order not to lose the latter, it is worth thinking about the type of management of your account. Only very experienced traders and banks make transactions for large amounts in intraday trading.

2. Decide on the type of control

There are three types of transactions in terms of trading methods.

• Traditional trading. In this case, you analyze the situation every day and make decisions on your own. This requires a lot of time and effort, but only in this way can you become a real trader.
• Automatic trading. The management of your trading account can be left to specialized software that will monitor the situation and carry out trading operations on the market for you. You can resort to this type of management if you have decided to take a break from the financial race for some time, having accumulated a substantial amount on deposit. Any robot program has its drawbacks - they follow only one specific strategy, tend to become obsolete, and can make mistakes if the market situation changes radically. In short, it is unwise to rely completely on automation.
• Trust trading and PAMM management. Experienced traders are willing to trade for you for a certain percentage of the profit if you become an investor. To do this, you can transfer your own trading account to an experienced trader or put money on deposit in a special PAMM account. Here it is important to choose the right trader and PAMM accounts that have proven themselves positively. Be sure to take an interest in ratings and blacklists.

3. Decide on the type of trading operations

If you decide to take full control, you will have to master all types of trading operations in order to carry them out as needed and in combination.

• Speculative transactions. The principle of any speculation is to sell at a high price what was purchased at a low price.
• Trade deals. They are simply aimed at buying or selling goods, that is, currency. May be part of speculative or hedging transactions.
• Hedging transactions. They are carried out to compensate for possible risks from other transactions.

Forex is primarily a speculative trade, but depending on the strategy you choose, you may need to trade or hedge at one time or another.

4. Choosing a trading strategy

A beginner should not reinvent the wheel; at first, it is enough to try out successful strategies of traditional trading, which have been used all over the world for many years, and take an interest in new products. Dozens of working strategies are available for free trial. With a small deposit ($10–500), we can recommend the Forex strategy for a cent account. The simplest multi-currency strategies are TrendLines and Elder's Three Screens; they are easy to master for those who are not yet experienced in playing the currency markets. If you're serious about it, the Turtle Strategy, developed by the legendary Richard Dennis, will help you develop a systematic approach to making money on Forex.

Step 4. Choose an account and start earning millions

You can open different types of accounts in Forex. For a beginner, educational lessons are first and foremost important. These include demo accounts, where you trade with virtual money, and cent accounts, where you conduct real trades involving amounts of tens of dollars. The peculiarity of a cent account is that the amount on deposit is displayed in cents and looks more solid. The excitement of the game remains the same, but you risk small amounts. It is convenient to practice new strategies on demo and cent accounts. However, you should not get too carried away with this game, because when switching to real trading, you can fall into a stupor, afraid of losing real money.

Next, you will have to choose which account to open: micro, mini or classic. They differ in minimum recommended deposit amounts. They usually start with micro accounts, where the deposit can be $300–1000. Some brokers do not differentiate accounts this way and offer one type of account, usually called a “Standard” account. This is exactly what is suitable for switching to real trading. Other types of accounts are opened by experienced traders who have been trading for more than one year.

How quickly do you start making money on Forex?

To be able to talk about any stable earnings on Forex, you need to study for about six months and trade for several more months. Let’s say you have demonstrated the ability to learn, you grasp everything on the fly, quickly master trading strategies, managed to work with demo accounts and move on to real trading with a deposit of $500. With stable trading with an average profit of 20% (this is a very good indicator), you will be able to double the amount on your deposit by the end of the fourth month. You can earn your first thousand dollars seven months after you start trading.

If a novice trader is counting on getting rich quickly, he should keep in mind that if he lacks trading experience, he will most likely lose all the money that was initially invested. Take your time, feel the “pulse” of Forex and the gradual growth of money in your account.

Warning : contracts or financial instruments proposed for conclusion are high-risk and may lead to the loss of the deposited funds in full. Before entering into transactions, you should be aware of the risks involved.

How much can you earn on the Forex market? Is it really possible to earn money without investing at all? Personally, I managed to earn $500 in 2 days. I'll be honest - it's not very easy

Hello, dear readers! Alexander Berezhnov is with you and in this article I want to talk about my experience of trading on the Forex market. I’ll tell you honestly that this is an exciting activity for people with good erudition and strong nerves.

Here I will also tell you how to do this and which brokers are best for novice traders to work through.

This material will be especially useful for beginners and those who are just planning to trade in the foreign exchange market. After studying the article, you will understand whether it is “for you” or not, what advantages and disadvantages this method of earning money has.

1. What is the Forex market and how does it work

Forex market(Forex) is an international foreign exchange market, which is a kind of virtual space where the price of financial instruments - currencies of different countries - is formed at the current moment in time.

This market does not have a single trading platform (exchange), unlike the stock market. Due to the fact that this market is international and is conditionally divided into trading sessions (American trading session, European and Asian).

Forex works 24 hours a day, 7 days a week. This means that you can earn money here at any time.

The foreign exchange market itself was originally intended to allow large companies, banks and even entire countries to exchange one currency for another, that is, for example, buy euros for dollars, sell francs and buy yen (Japanese currency), and so on.

But, as they say, a holy place is never empty.

And along with the emergence of the market itself in 1971, it began to attract financial (currency) speculators, who are commonly called traders*, like a magnet.

Trader- (from the English “trader”) is usually applied to people who carry out speculative transactions in order to make a profit on the foreign exchange and stock markets.

Therefore, when you start trading on Forex, you automatically fall into the category of traders, acquiring a complex, highly paid, and very risky profession.

How you can make money on Forex - a clear example from real life

We all see how the dollar and euro behave against the ruble, especially recently.

Let's say you bought 1,000 dollars, investing 50,000 rubles in this purchase (50 rubles per dollar).

If in a couple of days the price of the dollar goes up and it already costs 53 rubles, then by selling your thousand dollars, your profit will be 3,000 rubles.

This is rude, since the bank will also charge you a commission for exchange transactions, but this does not change the general meaning.

Making a profit on currency speculation is like buying tomatoes at the market for 50 rubles per kg, and then coming and selling them near your home to women who are “dying” without fresh vegetables for 70 rubles per kg.

Please note that the price may not rise by the dollars you bought, but rather fall, and then you will have to either sell your thousand dollars and record a loss, or eat up and wait for the “green” ones to rise in price.

Of all the brokers operating in the Russian Federation, only one company fully satisfies the above criteria - , which has existed since 1998. Excellent training, low spreads, the best customer support (Alpari has an office in almost every city where free consultations are provided).

Alpari teaches beginners how to trade on Forex for free - you will master the terminology from scratch, understand the interface of the trading terminal, and master 10-15 strategies. Simply fantastic.

There is a third option, when you have already bought 50,000 rubles worth of dollars and the price has gone down.

When the price falls, buy more dollars, thereby averaging the purchase price, and sell the entire currency reserve when the price goes up.

Now I have given you an element of a trading strategy in the Forex market, which is called “averaging”.

In some cases, “averaging” is justified, but very risky, since the price of the purchased currency may continue to fall and then the value of your currency portfolio will rapidly decrease.

2. Is it possible to make money on Forex and is it really possible to do this without investments?

Yes, you can make money on Forex very quickly. This is why it attracts a large number of people every day.

After all, money loves counting, doesn’t it?!

Is it possible to make money on Forex without investments?

There is such a possibility.

For example, consulting and trust management.

Profit on Forex is generated in any case if you have trading capital.

That is, in order to make money, you definitely need to invest money in one currency or another in order to sell it later.

But! If you have experience and understanding of the principles of trading and you are confident in your abilities, then you can give advice to people trading Forex and take your percentage of their profits.

To do this, you will need to constantly analyze the situation on the market and in the world, but the payment for your intellectual work will be very worthy.

Developing this idea, you can offer a person who has money to be his hired trader.

That is, he opens an account for himself, and you trade on it, and divide your earnings, for example, 50 to 50. If your work is profitable, then the investors themselves will give you the money.

Thus, we can say that it is impossible to make money on Forex without investments, the only question is whose investments it will be.

What is needed to make money on Forex - 4 basic conditions for a safe start

Let's now look at what you need to know, be able to do and have in order to make a profit from currency trading.

These mandatory conditions will definitely be needed if you decide to become a trader in the foreign exchange market.

Condition No. 1. Initial capital

Yes, lovers of freebies will have to smoke on the sidelines, since you can earn money quickly, at the same time a lot and without investments only through criminal or morally unacceptable methods.

Here it is necessary to think not in money, but in interest, since working on Forex is something between speculation and investment.

For example, it is considered good earnings if you are here STABLE you get a profit of 3%-10% per month, which averages from 30% before 100% per annum.

A trader receives such a percentage on invested funds if he does not invest the profit received back, but withdraws it and spends it on his needs.

If a trader does not withdraw his profits, but systematically increases his trading account, then taking into account compound interest (when interest is superimposed on interest), his annual profit can be from 100% before 500% per annum.

In theory, this is true, but practice shows that only a few people out of a hundred are even able to make a profit here comparable to at least the interest on a bank deposit ( 8%-15% per annum).

Thus, if you want to earn $100 per day ($3000 per month), then you will need at least 10 times more capital.

Condition No. 2. Special knowledge and experience

Whatever one may say, there is nothing to do without knowledge and experience in Forex, that’s for sure!

You can get them by starting to study articles, literature and videos on the topic, as well as by opening a virtual trading account and practicing on it.

In the meantime, all that remains is to become a student.

The best training option is to find yourself a good mentor who already has extensive experience in Forex trading, earns a stable income and can teach you.

Such a person can teach you for free (for a nominal fee), just because he simply enjoys the transfer of knowledge, or he can also ask for a substantial fee for transferring experience to you.

If a mentor asks you for money for training, demand from him guarantees of results, although in most cases your financial success will depend on you, or more precisely on the quality of the trading decisions you make.

Then you will understand whether making money on Forex is a fantasy or a reality for you.

Where to look for a mentor (experienced trader):

• among friends and acquaintances;
• on thematic forums about Forex on the Internet;
• in brokerage companies and dealing centers in your city;
• at seminars and events for traders.

What to look for when choosing a mentor:

1. Is Forex the main source of income or is it just a hobby for a person. A professional trader, with his large earnings, will not scatter himself and do anything else.
2. Reports on trading results for at least one year on different accounts. The market changes frequently and a profit of 5, 10 or 30 percent in the current month can result in the same or even greater losses in the next month. Therefore, the period for which the future mentor provides you with a report is important. It is also important to find out whether this is the only account a given trader has. Perhaps it was on this account that he managed to increase his capital by 70% in a year, but on another trading account he suffered a large loss, which “ate up” all the profit. Watch how your mentor will analyze a chart of currency pairs and what he will do after such an analysis.
3. You see with your own eyes how a person makes money. Sit next to him and watch him trade on a live account. If a trader earns money here consistently, he has nothing to hide. He will open his trading platform right in front of you and show you in real time how to trade Forex correctly and explain his actions.

Here's what else you need to work productively on the stock exchange.

Condition No. 3. Nerves of steel and time

I'll explain why.

When you open a position, that is, buy any currency, you immediately see how the current price fluctuations change the size of your account.

Just imagine, you sit and see the following picture on the screen: two minutes after opening a trade, you see “+ $153”, and after five to ten minutes you see “- $184”.

The question immediately arises: why not close the deal when it turned out to be positive?

And then his main enemies come to the trader - these are fear And greed.

Greed tells him - wait a little longer, maybe in 5 minutes there will be 2 times more.

It also happens the other way around.

The trader opened a deal and it went negative, and fear tells him - close the position before the entire account is lost.

In any case, in order to understand the principles of working on Forex, and even more so to start making money here at least for bread, not to mention butter, a considerable amount of time must pass.

It is usually measured in months and even years.

Condition No. 4. Cash reserve

Dear friend, you should know that all speculative transactions, especially in the Forex market, are associated with great financial risks.

You can say that this is your own home business.

Therefore, remember the golden rule of risk management in business:

Never open a business with your last money, especially if you do not have enough experience to do so!

Indeed, in most cases, novice traders completely lose their trading account in the first week of working on Forex.

Conclusion

You should have a specially set aside reserve amount that you plan to live on while you go through the process of becoming a trader.

Or you must have other sources of income if you do not want to be disappointed once and for all in making money from currency speculation.

To conclude this section of the article, I want to clearly highlight the advantages and disadvantages of working on Forex.

Advantages of Forex trading (+)

1. Opportunity to earn a lot and quickly

Due to the fact that the broker provides you with leverage, you can literally turn $100 into $1000 here in a day! Another thing is how justified your risks will be.

2. Unlimited earnings

When people ask how much they can earn on Forex, they immediately remember the example of the famous financier George Soros, who earned more than a billion dollars here in one night!

If you still have this question and a billion is not enough for you, then all that remains is to become the ruler of the world and appropriate for yourself all the resources that are on the planet.

This is naturally a joke :)

3.Ease of operation

Technically, trading Forex is no more difficult than using a mobile phone or playing a computer game. Another thing is that the financial results in this case will no longer be just toys.

Disadvantages of Forex trading (-)

1. High risks of losing money

The leverage that the broker provides you is usually 1 to 100. That is, your part of the trading capital is “sponsored” by the broker with another ninety-nine.

This means that you open a account not for $100, but immediately for $10,000, and the slightest fluctuation in exchange rates entails a rapid change in the trade balance, both positive and negative.

If you do not yet have experience and add to this the excitement during trading, then the chances of making losses increase many times over.

2. Nervous work

If you haven’t tried playing Forex yet, I guarantee you that the first time you trade with real money, your palms will be sweaty, your heart will beat fast, and you may even have gray hair.

Here you need to be calm and emotionally stable.

In some cases, people working in this market develop gambling addiction* , they can no longer stop and “play” on the stock exchange, like in a casino. They lose everything, sell the last things from the house, borrow money and spend it. So be careful.

gambling addiction- a psychological illness that is characterized by dependence on the game process. Gambling addiction develops especially often in people who gamble for money, in casino visitors, and often in stock traders.

3. Income instability

Even the coolest traders in the world will tell you that it doesn’t happen every time and in some month or year they manage to earn a lot, but in another period the speculator suffers losses or remains with his money.

Therefore, financial professionals usually measure trading results quarterly or annually.

The best saying here is:

"Do not count your chickens before they are hatched".

A novice trader should know that good profits in previous periods do not guarantee the same results in the future.

3. How to make money on Forex - step-by-step instructions for beginners

And now that you have learned about what Forex is and understand the principles and nuances of this type of earnings, I suggest you read the step-by-step instructions that will help you, as a beginner, get started in this business correctly and maximize your chances of becoming a successful trader.

Step 1. Choose a Forex broker

Here I will tell you how to choose reliable broker* .

A significant part of your trading success depends on which broker you choose.

Broker is the company through which you will carry out trading operations on the Forex market.

Legally, you cannot enter the foreign exchange market directly on your own.

It is best to choose a Forex broker based on the following criteria:

1. Duration of existence and seriousness of the company

Find out whether the company is officially registered and whether it has the appropriate documents to conduct brokerage activities.

On the website brokers.ru you can look at the rating of Forex brokers and find the most suitable company for yourself. It is advisable to work only with those who are in the top ten.

3. Minimum amount of trader’s trading capital

Different brokers have different minimum deposit amounts for your trading account and can vary from a few cents (so-called cent accounts) to several hundred dollars.

For example, banks have a minimum trading account size of thousands of US dollars.

4. Amount of trading commission (spread*)

Another important indicator when choosing a broker.

Spread is the difference between the purchase and sale prices of a currency. But it’s easier to say that this is the broker’s commission, so it will be clearer if you are new to currency trading.

The lower the spread, the more profitable it is for you to make trading operations.

When you open a trade, a small amount (spread) is deducted from your account. This means that you automatically go into a slight minus.

Thus, if, for example, you opened a deal, the price increased and you recorded an income of $100, then your profit will be $99.5, taking into account the broker’s commission.

5. Bonuses and level of service

Pay attention to how the staff of the brokerage company and the support service communicate with you, as well as how the withdrawal of earned funds is carried out.

Step 2. Decide on a financial instrument

To start trading, install the trading platform. It may differ in functions and interface for different brokers.

The classic program for trading on Forex for most brokers is still Metatrader version 4 or 5.

Understand the functions of the selected program, analyze and check all its capabilities.

Search online for instructions on how to use this trading platform, or ask your brokerage company for instructions.

After you learn how to use the program, you will only have to choose the currency with which you will make trading transactions.

On Forex, currency pairs are traded, for example, euro-dollar (EUR/USD), Swiss franc-dollar (USD/CHF) and so on.

To begin, select one popular currency pair, preferably the euro-dollar (EUR/USD), and look at its chart and current price changes.

In the future, as you gain experience, you can trade two or three currency pairs or more.

Step 3. Go through the training stage on a DEMO account

Now let's move on to trading. Open a training account for trading (demo account) with the amount you plan to actually trade, for example $1000.

Spend some time trading on a demo account, for example a week or two, to understand how to technically trade Forex using a trading terminal (computer program).

Try to treat the demo account as if it were your real money, do not allow large losses, but do not chase excessive profits.

Trade calmly, open and close trades only when you are sure that this is the most correct decision at the moment.

Do not open an account in real money until you are consistently able to make money on a virtual account.

Usually, after a few days, miraculously, people make good profits on the demo account and some even double their trading deposit.

But not everything is so smooth when it comes to real money. After all, here your emotions are the main obstacle to big earnings.

Now there is the final step, let's move on to it.

Step 4. Open a real account

To get started, you can open a cent account if your broker provides such a service. Here you will indulge in “pennies”, but it will already be real money. And if you suddenly lose your trading capital, it won’t be so offensive, because it’s not a shame to pay $10-20 to get a good experience.

• 4. Trader mistakes on the stock exchange
  • Mistake #1 – Becoming a professional
  • Mistake #2 – Trader Knowledge
  • Mistake #3 – Technical features
• 5. Conclusion

Each of you has heard more than once about making money on the Forex market, but not everyone correctly understands this concept. Let's take a closer look at what Forex is and whether it is possible to make money on it.

1. What is Forex: what is this exchange for and how does it work

Forex is a global currency exchange. Accordingly, as on any exchange, currency is bought and sold here. Trading volumes on the stock exchange are very large, and according to experts, they reach trillions of dollars. At first, Forex was intended for the purchase/sale of currencies only by banks, but soon dealing centers began operating on it, which allowed other traders to participate in trading.

2. Is it really possible to make money on Forex?

Contrary to popular belief, it is possible without special education. Of course, you will have to master the terminal and trading methods. But after that, it all depends on your ability to control your emotions.

Forex is often called a scam. After all, a beginner, having seen an advertisement about huge profits on some site, is more likely to deposit money and try to earn money. At the same time, he studies only the principles of operation of the terminal and the buttons that need to be pressed. As a rule, such people either quickly lose all their money, or, having not received the promised profit in a week, abandon this business. It should be noted that the scam here is such tempting advertising, and not the exchange itself. These ads are simply trying to lure people to their site so that they get trained at the right dealing center.

3. How to make money on Forex - an example transaction

On Forex you need to buy and sell different world currencies. They are traded in pairs. For example, a couple EUR/USD is the ratio of the euro to the dollar, and RUB/EUR- ruble to euro, and so on. (If you are wondering what will happen to the dollar, how much it will cost, we recommend reading)

The amount of your income depends not only on the difference between the buying and selling rates, but also on the volume of currency you purchased, which is traded in lots.

As already mentioned, to gain access to Forex, you need to use a dealing center, depending on which the minimum lot amount can be 0.01 or 0.1. You can use currency leverage in trading. Yes, on the shoulder 1 To 100 You can buy currencies up to 100 times more than the amount in your account.

But with the help of such leverage you can get both additional profits and large losses, so you need to be careful when choosing it. Thus, if your lot is 0.1 and leverage - 1-100, then you will make $1 profit/loss per price change of 1 pip.

The amount of time you spend trading depends on the strategy you choose. For example, in order to analyze the daily chart, you only need to look at it once and make an appropriate decision. This gives a lot of time to open or close a position.

Watch the video - Forex for beginners. Metatrader 4

4. Trader mistakes on the stock exchange

Absolutely all Forex traders make some mistakes. However, unlike experienced traders, beginners tend to assume catastrophic errors . Because of them, they lose and lose their capital. And of course, since most players lose money, it would be very advisable to start by studying their mistakes. There are a number of errors that are the most common. And they will be noted in this section of the article.

First of all, we note that almost all beginners look at how. But they don’t even understand that in the market they will have to play against banks and huge companies that will not just give up their money. Of course, with this approach, the drain occurs instantly. And this is precisely what attracts them to the foreign exchange market. All materials on how to make money quickly can be called simply a commercial move to attract people, but nothing more. Real practical information is much more complex.

There is now a huge amount of material on how to make a lot of money on the market. However, 99% such materials are worn false information. And they don't give anything. Almost no one writes about mistakes, except for practicing experienced players.

Mistake #1 – Becoming a professional

Summarizing the most important mistake, namely the mistake of approach, it can be noted that the very first thing you need to do is stop being a beginner. This is easy to understand if you understand that a professional is never a novice anywhere or at anything. He comes only to those areas in which he understands and understands, understands how to make money on the stock exchange. An experienced trader always knows what to do to make money. In contrast, in Forex, most people are completely random people, attracted by advertisements about making money quickly.

Mistake #2 – Trader Knowledge

This error is of a fundamental psychological nature. But there are many others. At the second level of significance are errors that relate directly to the knowledge itself.

To avoid many mistakes, you need to constantly study information that will be useful in your future activities. Only an expert in financial markets can manage money more or less efficiently. It is impossible to achieve success in Forex without becoming an expert who understands all the intricacies, including trading analysis, money management, legal features and much more. Therefore, before investing money, we recommend reading -.

Mistake #3 – Technical features

The next section of this issue is technical. However, it follows from the second level of errors. Without experience and knowledge, people do not understand the peculiarities of trading in the market. So, you can often hear that you need to trade on a demo account first.

However, trading in demo mode has nothing in common with the real game, and, as technically, so psychologically.

In general, dealing centers have three types of systems. These are systems for demo accounts, systems for testers and systems for real conditions.

They are all different and have their own characteristics, which are important and must be taken into account.

5. Conclusion

There are many other mistakes that new traders make. We have described only a few of them, i.e. those that are very common among beginners.

Thus, you can really make money on Forex, and not bad enough. But if you are an impatient person who needs everything at once, then such income is not for you. You need to understand for yourself that this is not a part-time job in your free time, but a permanent income that you need to devote time to. Only in this case can you gradually achieve a stable income.

You can also add to this article in the comments your mistakes that you would not make in your trading in the future. We will be glad if experienced and successful investors, traders, and managers share here their tips and recommendations about making money on the foreign exchange market.

Part 1. Background

I first heard about the Forex market back in 2010. Then my older brother signed up for a trading course and told me a lot about the basics of currency exchanges, Japanese candlesticks and people who made fortunes from it. In those early years, I was not at all interested in the market, and somehow I had no thirst for easy money. And all these terms like Japanese candlesticks, margin, leverage, sounded like white noise to me. But my brother confidently attended classes, watched video lessons and tried to trade on a demo account, and then on a real account. At the end of the courses, the academy opened a real account for each student with $100 in it. For overclocking, so to speak. According to the brother’s stories, half of his “colleagues” lost these deposits very quickly. And, as the teachers said, this is a typical beginner’s mistake, everyone goes through it. Time will pass, and you will learn how to manage risks, and money will flow, if not like a river, then at least in a stream, enough for sausage sandwiches. Sounds tempting, doesn't it?

Time passed and my brother’s ardor somehow faded. He almost lost his 100 dollars, and, unfortunately (and as it turned out later, to great happiness), there was nothing to replenish the deposit with. And so his trading career ended. But he left the market without understanding whether he could make money there. One of his St. Petersburg friends, inspired by his brother’s stories, also started trading, but it was difficult to say whether it was successful or not, because his words were: “I seem to be earning something, but then I lose it all again” (oh how often I heard this phrase later ).

A couple of years passed, and the idea of ​​easy money from jumps in exchange rates was crawling somewhere in the subcortex of my brain. In 2012, my friend told me that his friend was sitting at home and making his living and mortgage on the Forex exchange. They say he opens a couple of well-thought-out transactions and lights up 500 bucks from each. Here we saw the first person actually making money on Forex. And the fire in our hearts burned. We started reading articles and watching video tutorials about what an exchange is and what trading terminals exist. Terms fell on our heads like out of a bucket - margin, leverage, indicators, orders, etc. But it was even funny, because we felt that this was the beginning of our careers as millionaires. We registered demo accounts and began to master trading.

Naturally, at first everything was unclear, some arrows, graphs and numbers. But after a couple of weeks, we got used to it and felt like fish in water. There was only one thing - even on demo accounts we had no profit. But an excuse was quickly found - with the candy wrappers of a demo account there is no risk and no fear, it’s time to switch to real money. We quickly looked through the tops of the best brokers and chose the appropriate option. And we deposited into our first accounts, as expected, $100 - the minimum deposit. Well, trading began, and our expectations were justified; with real money came fear and a sense of responsibility. At the moments of opening the first real transactions, my hands were shaking as if in a traffic police exam. But with real deposits came another factor, the most dangerous and insidious. A factor that has caused millions of people to lose everything in their lives. The factor that causes families and even lives to collapse is EXCITATION! And no matter how much I thought of myself as an objective, sensible person and not subject to excitement, I succumbed to excitement. And its destructiveness lies in one simple thought: “Now I’ll invest more in this deal and not only will I get rid of all the minuses, but I’ll also double the deposit.” This thought ruins all risk management plans, strategies and techniques. And no matter how many articles I read about how to develop a system and strictly act on it, nothing worked for me. Sooner or later the excitement took its toll. You can, of course, say that I’m so small-minded and spineless, but, unfortunately, I’m not the only one. And so far in my life I have never seen a person making money on Forex, except... a broker!

As a result, like all newcomers, we lost our first deposits. But, again, this was expected, because this is a “standard error”. And since the error is standard, it means we are moving along the beaten path to enrichment and heavenly life. We need to work on our mistakes. And to work, you need funds. So we added a second batch of money to our deposits. Well, what can you do with 100 dollars, we poured in 500. Well, so that we could immediately recapture those 100 and earn new ones. By the way, there were times when 500 grew to 600 and it was really nice. But then they turned into 400, 300 and melted from deal to deal. We promised ourselves that it was time to reduce trading volumes to reduce risks. One simple factor prevented us from doing this - the painfully familiar EXCITATION. After all, every time it seemed like this was the deal of my life and now I would invest everything in it, and how the market would jerk in the right direction. But he always tore in the opposite direction, taking with him the remnants of our deposit. Second deposits were approaching zero.

And then we started thinking, is it really possible to make money on the Forex market?

Part 2. How we got rich with gold

As I already said, our second deposits were coming to an end, and we decided to understand what was the reason for our troubles. We identified the reason quite quickly - the wrong trading strategy. Like all new traders, we traded haphazardly. Yes, we had some tactics, but, succumbing to the excitement, we forgot about everything and rushed after the rapidly departing schedules. The fast movements of the market drove us crazy, afraid of missing out on big profits, we rushed into transactions. This behavior is even described in many smart articles and is called “Jumping on a departing train.” And the fact that our behavior once again fit the classic definition of beginner’s mistakes only confirmed that very soon we would become seasoned pros and start earning decent money.

But the leaked amount of almost $600 no longer seemed trivial to us, and we decided to slow down a little. We switched to very small transaction sizes and tried to open strictly according to the system. And, in general, something even worked out. Only the profits were completely boring. From deposit balances of about $100, we earned 1-2 two dollars per transaction, which could last more than one day. This situation upset us, because at this rate it will not be possible to return the old deposits soon.

And we decided to turn to our friend for help, the same one who, sitting at home, earns money on the stock exchange both for a mortgage and for a living. His answer was simple and clear - you are trading the wrong pairs. Ditch this Eurodollar and switch to gold trading (XAU/USD). But there was only one significant drawback in trading gold - the minimum transaction amount was $125, and you also need a little for drawdown. In general, our deposits were not suitable for gold at all, and somehow we didn’t want to put new money on them from our own wallet. However, we added a gold chart to our terminals and began to look at it regularly. The figures there were painfully beautiful, and the intensity of the traffic really inspired hope for a quick profit.

After a couple of weeks, we felt ready! It seems that the deposits have stopped melting and we have somehow begun to control ourselves. We have developed our own systems, graphs and arrows, almost like a pro. We gathered our strength and deposited another $500. Well, it’s just that 125 was needed for one deal, and it’s not a fact that it will work, and the reserve was small. And we went to trade for gold. I remember that we certainly had enough adrenaline. Opening a trade where each pip costs $1 was cool. With each market movement, the numbers in the terminal changed in a childish way. The most interesting thing is that we had positive trades, and the fact that the cost of one point was high made the profit very significant. We closed a couple of deals for +$200. The second interesting fact is that gold really lends itself well to analysis. It worked especially well on strong lines. True, there was one thing - the chart approached strong lines no more than once a month, but I always wanted to trade. But we controlled ourselves, placed pending orders and waited for juicy deals.

And life would be honey if everything depended on us. After some time, we saw that gold does not always follow strong lines; sometimes it simply breaks through them and rushes to stop losses, taking away our money. Succumbing to the same EXCITATION, we rushed after the schedule, changing trades to the opposite ones. But this, as you know, is bad practice and we lost the deposits. Moreover, we merged them very, very quickly, rushing into one or another adventure. And what’s most interesting is that in all this fuss, you begin to get tired of losing and stop feeling that you are losing real money. Your own, which you recently transferred from your own wallet to the broker.

At the moment when the margin call hit our accounts, we were so exhausted that we were even generally glad that it was finally over and we didn’t have to worry anymore. We firmly decided to leave the Forex market and all these ventures for easy money. Even though we saw positive trades and even closed them. Despite the fact that we, our friend sits at home and makes a living for himself with a couple of transactions, and we work hard at our jobs and there are no prospects for a carefree future.

Is it possible to quit Forex? Is it possible to just leave it one day and never return?

Part 3. How the trading assistant helped us drain the deposit

After a couple of months without Forex, my hands began to itch a little. The resentment from the loss faded away, and those same profitable trades and big candles on gold did not give us peace. After all, there were successful transactions, and they were opened according to our system, when all the facts were clearly planned, and entry into the transaction was carried out only if there were signals. So what then was the reason for our defeat? Why did we leave defeated? And all the forums and books unanimously repeated that the market does not forgive mistakes, that 90% leave with nothing precisely because I trade haphazardly. And only 10% of real pros actually earned their millions on the market.

And then we came across one interesting phrase: “The one who walks will master the road.” We have used this phrase more than once in a humorous version: “The road will be mastered by the one who walks, who goes to...”. One way or another, it became our motto. But really, all our troubles are just a thorny path to laurels. And only cool-headed traders who are able to learn from mistakes are able to reach the end. And off we went. But how can we learn to be cool-headed? How can you stop giving in to temptation and trade strictly according to plan?

The answer came as an inspiration - I need to write an assistant. After all, it is a cold-blooded machine that will be able to objectively assess the situation on the market without succumbing to panic and excitement. Almost all modern terminals have built-in programming languages, and we, by the way, are programmers by profession. The idea was innocent - to write an assistant that would evaluate the market based on a number of factors and tell us whether to open a deal or not. We tried coding for a week. We read the specifications, looked at the examples - everything became clear. The assistant was written quite quickly. I will not go into details of our system, but it assessed the chart at different periods and highlighted interesting points at which, in our opinion, trading began.

The assistant test began, which was very successful. Yes, there were a lot of mistakes, but more than 70% of the decisions were correct. We worked on demo accounts for now, because our real accounts were at zero. In the process of writing the assistant, we saw another important advantage in it - it can work around the clock, it’s also a machine. Here we decided to entrust all trading to him. We added it with the function of opening a deal and started testing it. Again, almost all terminals have access to price history and are able to evaluate the effectiveness of the assistant based on history. The results of the assessment amazed us. Income from transactions was up to 1000% of the deposit per month. True, this was just a story, but we tested it over a long period and the results inspired confidence. Having debugged a number of system parameters using history, we decided to launch the assistant in real time. True, it’s still on a test account.

A couple of weeks of tests showed nothing. The profit was zero, but there were no losses either. We quickly found an excuse - the market is sluggish now. The market was indeed sluggish during this period. We decided not to torment ourselves, otherwise we would suddenly miss all the action with this demo account - we replenished the deposits and launched the assistant on the real account. They set him the minimum transaction size and set him free to sail. He swam for about a month. The market behavior was completely different from history. Although all the forums and textbooks unanimously repeated the golden rule of trading: “history repeats itself.” Yes, for some reason it didn’t happen again. The robot traded, opened a bunch of deals, but we didn’t see a 1000% growth.

Probably the phrase “Third deposits were drained” is now expected. We allowed the assistant to drain only half of the deposits, then we cut his wires. There were 250 bucks left in our accounts. Meanwhile, gold was approaching a very strong line. Well, the EXCITATION took its toll and we decided to recoup all the lost money with one deal. They placed orders and began to wait. The orders, by the way, worked as expected. And we went into profit. We immediately reached $500. But they didn’t stop there; they began, as they wrote in the textbooks, “Milk the market to the last drop.” But the market milked us faster.

The third deposits were lost. But the mistakes are still the same - succumbing to excitement, we deviated from the plan. Although sometimes history simply did not repeat itself, and the market ignored all the lines and went about its business. Is the market amenable to analysis or is it influenced by random fundamental factors that disrupt all traders’ plans?

But the main question that began to interest us: “Are there people who made money on the Forex market?”

Part 4. Are there people who have made money on the Forex market?

We actually studied this question at the earliest steps, and the answer was obvious - YES! But we began to search more carefully. There are a lot of stories on the Internet about this trader and that one, here they are, these lucky ones. And, reading their stories, we saw how they started, how they made all the same beginner mistakes. There's a German grandmother who, in retirement, sat down at the terminal and made a fortune. Well, yes, it seems there are such people on the Internet. What about in life?

We turned to our old friend with a mortgage. The truth amazed us - so far he has not earned anything, but only lost 200 thousand!!! His wife pays for the mortgage, and he does part-time work, and puts everything he earns on deposit, in the hope of making up for the minus. Before this, he was simply ashamed to admit his failures, they say, they would think he had to be crazy to lose such money. That’s how it is, in general. Although, in his opinion, he has not lost them, he is still in the process of understanding the market, and big profits are already on the horizon.

My brother’s friend from St. Petersburg abandoned this business a couple of years ago, saying, “he earned something, but then lost it all.” It turns out that all the real people you can talk to have earned nothing. On the Internet on forums, people boast that they have been trading for years and very successfully, but in neighboring threads these same people say that they open at a minimum, because the deposit is close to zero. A bit strange for a millionaire.

After analyzing the entire Forex market, I came to a number of contradictions:

1) If it’s easy to make money in the market, as brokers say it is, why don’t they just trade themselves? After all, why should they collect these crumbs in the form of interest on transactions, when they themselves can spin millions there and earn millions. But brokerage companies employ hundreds of employees.

2) Why would someone who has developed their own unique trading system that brings a stable income share it with others? And not just sharing, but also trying to conduct paid seminars for 100 rubles per participant. And some even offer to send CDs by mail for 200 rubles. This is a bit petty for a millionaire, don’t you think?

3) Why should people who have written a successful assistant that brings in 1000% per month post it online? After all, you are already a millionaire, why create competition?

4) Why does a person who considers himself a pro and has been trading successfully for many years write on the forums questions: “Well, where will the market go? What are the forecasts? After all, you have a system and you are based on your proven signals, and not on the opinions of little-known people.

After analyzing my and others' experiences, I came to the following conclusions:

1) Yes, there are people who have made money on the Forex market, and these are the same brokers who collect interest from transactions and conduct paid seminars on “how to quickly lose your deposit.” Besides, I'm sure that most of them don't open your trade at all, but just keep the money in their accounts waiting for you to drain them. And you will merge them, because all these trading systems are nonsense.

2) People who say that they make money on the Forex market are actually ordinary slot machine players. They are simply addicted to EXCITATION and eager to recoup all their losses and hit the jackpot. It’s not for nothing that I highlighted this word in all articles. This is the same addiction as casinos and other long-proven addictions.

3) All these win-win systems are aimed only at ensuring that you quickly lose your deposit and, in the hope of returning what you lost, bring more and more money to the broker.

I described my experience only so that people who are going to or are already trading on the Forex market will analyze my words and try to understand that it is impossible to make money there. You won't be able to tame the market. The market is not subject to analysis or systems. Most likely, you will simply lose your deposit, and then the next and the next. Leave these ideas before it's too late. You will not be able to return money already spent.

Stop! Forex is a soulless machine that absorbs your earned money.

Is it possible to make money on Forex? How to make money on the Forex market? How often do you hear and read these questions on the Internet? Previously, when I was completely out of the loop, it seemed like something mythical to me.

Today, of course, I know much more about Forex, but I will never forget those first days that I spent on the foreign exchange market. I was also interested then Is it really possible to make money on Forex?. It turned out that it was real, but very difficult.

In this article I will not describe how to make money on the Forex market, but I’ll just tell you what I experienced when trading. Believe me, every trader experiences these feelings, these emotions, so using my example you will be able to draw your own conclusion whether you should start trading on the foreign exchange market or not.

Memory 1

With low income there is nothing to do with Forex. I thought that with $100, you could grow to several thousand, or even more. But this is all bullshit. There are no miracles. In order to have a real opportunity to make money on Forex, you need to have a large starting capital. Believe me, everything that they write about mini accounts, and also about the fact that with 50 bucks you can make several thousand dollars in a short time, is a lie. If everything was as they say, then today there would probably not be a single dealing center, because they all went bankrupt. Especially those that do not withdraw money to the interbank market. Therefore, my first mistake was that there was no point in putting little money into the Forex market. I just didn’t know if it was possible to make money on Forex, so I wanted to try it. I tried it and ended up donating my money to the dealing center.

Memory 2

Of all the types of online earnings, Forex is the most difficult. Difficult, first of all, because you need to be a specialist in finance and economics. And let them say that it is possible to make money on Forex without theoretical knowledge of economics, but in reality all this is bullshit. You need to know too much to always stay afloat. In addition, you need to sit in front of the monitor screen all the time and monitor positions. It won’t work any other way if you don’t have much money in your trading account.

I remember how I sat near the monitor at night waiting for a profitable trade, and when the price finally went in my direction, I opened, but in the end everything worked out in such a way that I ended up having to sit almost all night to close this position . In general, instability.

Memory 3

Forex is not for the faint of heart. Even though you know how to make money in the Forex market, it will take you more than one year to become a guru, and it is not a fact that during these years you will be able to stay afloat and be able to afford to feed your trading account with new injections of money for a long time. And when you threw away these unfortunate $100-$200 and situations arise in the market when you can lose everything, you are constantly nervous. That is, this work is directly related to risk. And there is no escape from this. But risk is not for me. The appearance of gray hair is the result of constant worries. Therefore, it is better to save yourself for more important matters, unless, of course, you don’t care about losing a thousand or two dollars.

Memory 4

Everyone is interested Is it possible to make money on Forex, but not everyone immediately understands that in this type of business you are constantly spinning, like a squirrel in a wheel. Not only do you need to predict the direction of price movement, you also need to get around all the obstacles that the dealing center or broker puts up. They also need to feed. And believe me, what is rumored to be important to the employees of dealing centers, first of all, is that you bring them your money. They need profit. And they make their profit at the expense of us, that is, at the expense of the clientele.

Therefore, I don’t know if it is really possible to make money on Forex when there is such pressure. Very often, dealing centers and brokers resort to various kinds of tricks. Especially when the price is falling quickly and you need to close your position. The broker does not respond to your requests and then explains all this by saying that the servers were overloaded with requests. This is all bullshit. We would like to improve the system of executing orders so that everything would be without delay. But this is not in their interests, so time passes, but everything remains the same.

Memory 5

Forex trading is risky. And quite significant. When you deposited your $500 in hard-earned money into your trading account and slowly watch how this money melts away in your trading account like oil in a frying pan, you don’t experience the most wonderful feelings. In general, well, well. I am for stability. Because in Forex today you can win $1000, and tomorrow you can lose $2000. Believe me, this happened to many. There are almost no people who quickly withdraw all their profits. And if someone wins today, then tomorrow he will lose, and will lose even more. This is reality.

Memory 6

I was trained in trading using a training package that I bought at one of the dealing centers. I’ll say right away that the package was not bad, with video materials. Only now, when it is possible to use the Internet, such educational materials are losing their relevance. All those who are interested in how to make money on the Forex market and whether it is possible to make money on Forex can find numerous materials on various sites on the Internet. Believe me, they write the same thing in print media. Why give money when you can get it for free?

Conclusion

These are the main memories of those times when I still considered myself a trader. By the way, believe me, my pessimistic moods have nothing to do with the results of my trading. I'll say even more. I even won for a while. But according to the law of meanness and due to human psychology, when you get excited, it’s already impossible to stop. Therefore, even if you win a little money, you are unlikely to find the strength to withdraw it from your trading account. You want to win even more, but in the end you lose everything you have.

In conclusion, I will say that not everything is so pessimistic. If you are looking for an opportunity to make money on Forex, then get ready to start with a normal amount, at least $1000. And start working at least with a normal broker, and not a kitchen. The largest Forex market giants in the CIS are the Alpari and Forex Club dealing centers. I won't even recommend others. And remember, earnings directly depend on greed; the higher the degree of greed, the greater the risk and the greater the likelihood of losing funds on Forex. Don't forget about it!