Forex trading made simple - how to earn money

There are 2 types of fees, which you can encounter, when you are trading - commissions and swaps. At first I will boil down both of these terms: Swaps Swap is defined as an overnight or rollover interest for holding positions(if you didn't get out of the trade) during night in Forex market. Each of these swaps is measured by points and each currency has its own special swap charge. The particular size of swap charge depends on the size of your position. You could calculate your swap cost for any position using the following formula:  Swap charge = (Volume of the order * Swap rate * Number of days). Let's take an example with 1 standard lot of GBPUSD with a swap rate for a short position of -2.5. Then we calculate the swap charge this way: 1 lot * (-2.5) * 1 day = -2.5 GBP. This will be the amount charged from your account for holding this position over 1 night. but I strongly recommend not doing so, but using this  calculator  instead, for both commissions and s

Candlesticks are the purest known form of price action.  They provide visual picture of what is happening on the market, because they can visually align your thoughts with the market. They also hold more reliability than any other known form of the bar chart. That of course doesn't mean that you should consider the candles as indicators to buy or sell, but they should be used with other strategies which you have developed. Candlestick pattern recognition is an arrangement of price bars which are used to anticipate the next move of the market. These patterns should help you to confirm your expectations and your continuous collective thoughts that determine your future bias of the market. The bars ( also called candles) depict how the buyers/sellers have acted on the market and how strong they have been in comparison with opposite site (buyers or sellers). It is important to note that attempting to define the movements of the market just with candles, not knowing trend, s

 In this profitable market are a lots of scams.  You should be aware of them and recognize them before it's too late. These kind of  firms offer you endless profits, claim to give you FX guidance or sell you signals. If it would be that easy, everyone would be winning like 90 % of trades, wouldn't we? You should be aware of these scams and ignore them every time. Don't fall into the trap! There is a bold line between losing trades and losing money because of some stupid traps, into which you have fallen because you were naive and greedy. Losing trades is a part of reality. Regardless if you are Wall Street trader or a hobby trader, everyone will encounter losses. No one can be 100 % correct in this market. Even a person with 75% success ratio can lose 10 trades in a row. That's the reason why you have to stay grounded, be disciplined and emotionless as much as possible. Losing big money is another story. Some traders lose confidence and doubt themselves from tim