If you are not yet an active Forex trader, then “good people” will definitely tell you a tale that an ordinary person will never get to the height where millions rotate. And they will prove that this is a cunning "scam" that serves to bait large banks and millionaires. And the money invested by the trader is a usual top dressing for large fish.
Such messages are most often poured into the Internet by failed traders who try to blame anyone for their problems, just to not admit their mistakes. These same people always try to act in defiance of the long-known rules and unchanging human qualities, and manage to compose algorithms so difficult that they cannot figure them out later.
Successful traders refuse the myths about the impossibility of making money on Forex, and using personal examples they prove the opposite: you can earn money and it’s not as difficult as they draw.
1. An example of profitable earnings.
We assume that you have an account open for 1000 US dollars. Having leverage of 1: 100, you can 100 times increase your deposit and trade by $ 100,000 already.
Let's say you choose the GBP / USD currency pair for work. In the morning, you make a deal to sell and sell at 1.1400.
After the release of important news, in the evening the British pound after the fall begins to correct, and you close the deal at 1.1312. You get 88 points of income. If you traded on all your capital, you would have received about $ 600 of income in 1 day. However, you took too much risk by making your entire deposit right away, not taking into account possible risks (for example, force majeure circumstances: somewhere there was an explosion, flood, strike, etc.). According to the rules of money management, it is advisable to trade no more than 30% of the available funds. In this case, having $ 1,000, you would have earned $ 200 per day. Smaller but more reliable.
And if you have a mini deposit of less than $ 50, then you will receive even more interest income. This is due to the fact that your capital (each cent) is more accurately distributed between trading operations.
You may ask: why it is necessary to give such a 1: 200, 1: 500, or even 1: 1 000 in general, if even with a lower leverage you need to share your funds and you can’t put all of your deposit right away?
The answer is something like this: you can be given any leverage because you want it so much, but first think about it, is it worth taking it?
For example, with very good cars you can reach speeds of up to 300 km / h, but is it worth it in a hurry?
Having the opportunity to choose leverage, you can combine work with various financial instruments and minimize risks by sharing your deposit.
2. An example of making money on the news.
The release of important news regarding the economic situation in the country can significantly affect the exchange rate. For example, a speech by the head of the European Central Bank can seriously shake the main crowd of market participants and force the dollar to make a sharp jump compared to other major currencies. Often the dollar makes a gap of 50 or even more points. In this case, in order to optimize profit, you can do the following:
a) We are waiting for the release of news;
b) We carry out a technical analysis and choose the direction of a future trading operation;
c) We enter the market at once for several pairs (allied pairs, for example, USD / JPY, USD / CHF, USD / CAD).
What will we have from this? First, we differentiate our means. According to the rules of money management, we use only about 30 percent of the total deposit amount. Thus, we reduce risks.
Secondly, we increase the size of profit. With the right analysis and a good sense of the market, you can earn 50 points for each currency pair you choose. That is, you have the opportunity to increase your account by 50 percent or more.
Thirdly, with the correct and skillful use of leverage, you can significantly increase your income.
3. An example of earnings on kickbacks.
Many professional traders prefer not to sit all day at the computer, but to look there only a few times during the day. The rest of the time they devote to their favorite activities.
One of the options for such trading are well-known transactions on kickbacks. That is, at each subsequent rollback, add a new lot to a profitable trade.
Of course, this option is not very convenient for those who do not like protracted operations (sometimes transactions drag on for several weeks. And not so often long successful trends come across). And someone prefers to sit longer at the monitor, making short deals. But, in any case, this option occupies a significant place in the trading.
A real trader is always in search of new ideas and methods of earning. Work, practice, constant movement and self-improvement are the main steps on the path to success. Do not stand still! Combine new ways, conduct experiments, develop and step forward. He who wants will succeed! Good luck, trader!