Can You Really Make a Nice Income Trading Forex Every Month?

Forex trading has been gaining popularity over these recent years and the main reason is due to the fact that it is a very powerful financial tool - No doubt about this. One of the biggest benefits is the huge leverage forex trading offers to traders like you and me.

However, although it is a very lucrative trading business anyone can venture into, but in order to really make a nice income trading forex every month; there are of course more factors you should take into consideration.

For those that choose to IGNORE some of the " essential factors to succeed with forex " and simply jump into the Live trading would only end up getting very nasty results and experience tremendous frustrations - which is really not what you would like to encounter too.

On the other hand, for those that are willing to understand some of the " essential factors to succeed with forex ", the entire trading process would be much smoother probably right from the beginner's stage.

So if you are also in the process of - " Wondering Can You Really Make A Nice Income Trading Forex Every Month " OR ( unfortunately ) struggling to understand and profits from your trading, this article would definitely be very beneficial to you so read on below.

Here we go:

Forex trading is basically a business in which you buy one currency and sell the other. This " exchange " is done by forex companies which are also know as the Brokers.

When a certain currency ( let's say EUR ) is expected to gain strength or increase it's value as compared to the another currency ( let's say USD), this would result in a up-trend generally for the EUR/USD. So in order to make profits from this pair, traders would " Buy " this currency pair.

Likewise for the other way round, when USD is stronger instead of the EUR, traders would choose to " SELL " this currency pair instead.

So to put it in the simplest way - In forex trading, you just have to be right about the " Direction " in order to make profits out of it. And the best thing is that you can make profits both during an up-trend and down-trend.

I know it sounds very easy by saying this sentence - "You just have to be right about the direction to make money from forex ", BUT how come so many traders ( 95% at least ) are losing or struggling with this trading game then?

Well, this happens to them because they are not willing to learn the " proper " ways to trade this highly lucrative yet super volatile market I must say.

You see, since we cannot predict the future, we definitely need to use certain ways to predict the " future of the price movements " in the market. These 2 proven ways are namely Technical & Fundamental Analysis.

So how can you use these 2 analysis style to predict the market direction and make money then?

Fundamental analysis - This involve taking the country's economy health status into consideration. If the economy is strong and looking good, then the loan value would be expected to increase as well, hence that pair would appreciate. This also required traders to read as many news as possible to keep up to date. I do trade & based my trading strategies on fundamental sometimes when there are reliable news as well sometimes.

Technical analysis - With technical analysis, you do not need to read any fundamental news at all but solely rely on analyzing the charts and it's price movement for " hints " of where the currency pair would be heading next.

Out of these 2, I would say the technical analysis style would be more " popular and common " because when you are already proficient in your technical analysis skills, you can read the next movement of the currency pair purely based on the charts without reading fundamental news at all. And it is very reliable and accurate if you know how.

Although technical analysis is very common and so called " profitable for traders to use ", most traders are actually learning the wrong way to do it right from the start in fact.

Why so?

That's because they rely too much on the so called " textbook technical indicators " and simply follow blindly without analyzing the Price Action on the market itself. As such, they are ( most of the time ) getting very inaccurate signals and always lagging.

When this happens, it is either another losing trade ( stop loss being hit ) or seeing the market reverse on your position again and again!

Don't get me wrong here though - I don't mean all technical indicators do not work; simple ones such as the Moving Averages or Fibonacci are really helpful if you know how to use the right settings. And combining them with Price Action in the market, the winning probability would be (definitely) high.

With the above factor PLUS practicing good money management ( not risking more than 2 -5% per position perhaps ), you would most probably be getting much better results than you are now.

So once you can master your technical analysis skills and predict the market direction with high accuracy ( using Price Action + Technical Indicators perhaps ) and simply cultivating the proper trading mindset, making profits every month from forex would be a breeze then.

I have been there done that and I can assure you that it is not hard to achieve what I have mentioned above at all if you are willing to do so. Instead of wasting time and effort learning all the WRONG things, why not use the same amount of time and effort to learn the " Proper " things to help you succeed with forex right?

Contact us at FXSuccess4u@gmail.com and we can suggest the best way for you for learning how to trade Forex.

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