The Forex market serves with great opportunities, where the traders can make money in short period of time.
The concept of trading is SIMPLE but involves HIGH RISK if you do not invest your time learning about the Forex market and trading strategies.
Forex market investments are very, very risky, and uneducated poor souls should not go anywhere near it.
Remember: You can invest as much as you want, as long as you have the capital for it and can stomach the amount of risk it involves.
It’s like asking how far a certain model of car can go — well, it can go as far as its fuel tank or battery is big!
Say you have a $1 million and are investing extremely cautiously and risk-aversively.
After a year you have $50,000.
That’s $50k a year — $4,166 monthly or your monthly profit comes out to 0.4%.
A baby can make that much banging on a keyboard!
That is “like” a one-order win of $10,000 daily. Or one order per year with a $100k period. This a safe easy source of money you take a little risk to make extra bucks for the new car.
That’s where people like to make their living without a headache.
Now say you have 100,000$ and you take many risks per month so you get about 4.16% profit a month.
Well, that’s the same amount with less risk with a million dollars. 4,166$ a month.
That requires sophisticated planning and knowledge.
At this level, this can be a secondary source of income if you want to play it safe or a main income if you like to take the risk.
What does that mean…?
The larger your capital the less you have to risk, the easier and stable your income is. The less capital you have, the more vulnerable you are to lose all your money.
So, if you have 1,000$ or less, it is basically GAMBLING unless you know what you are doing, have a GOOD TRADING SYSTEM, and follow a TRADING PLAN for long-term to upgrade to next level.
But this can’t be your main income but rather a savings account until it reaches next level.
To reach the top level is not that hard but it requires some work and time.
There is obviously NO best trading system for beginners.
- If the currency pair is trending, you will use the trend following strategy.
- If the currency pair is in a range, you will use a range trading strategy.
There’s no best trading system per se, but rather a trading system that suits you. And you should open a demo account and practice your personal trading systems.
Below are 3 easy and simple trading system but highly effective for a novice and/or experienced trader.
High accuracy Vortex Trend Retracement Trading System and Strategy. These strategies are popular because they enable you to trade with the trend.
This is how I use Vortex Trend Retracement System to spot TREND REVERSAL and RETRACEMENT.
With this Vortex Trend Retracement System, it’s possible for you to distinguish retracements and reversals as they are happening.
You will not be right 100% of the time but you can get it right more often than not.
This is the most powerful BULLISH BEARISH CANDLESTICK patterns trading system every trader should know. Candlestick patterns emerge because human actions and reactions are patterned and constantly replicate and are captured in the formation of the candles.
Candlestick patterns provide a great way for traders to determine potential trend reversals.
In particular, bearish engulfing and bearish evening stars provide high-probability trend reversal indicators, although bearish shooting stars and bearish harami may also provide some useful insights.
In this article, we’ll discuss the PERFECT BULLISH & BERISH CANDLESTICK PATTERN trading system
Best Forex SuperTrend Price Action System – Focusing on finding the best reversals will put you on the path to trading success. Yeah, right. “The trend is your friend”.
What are your trading system and strategy for finding the most reliable trend reversals?
As a trend trader, you want to position yourself along with the market trend. A trend reversal is both your entry and your exit.
This is why you must answer this question to the best of your ability.
Focusing on finding the best reversals will put you on the path to trading success.