How to make money in the Forex market

How to make money in the Forex market

Anyone can make money on Forex. If you are interested in making money, here is a profitable Forex strategy: Choose a financial platform that you prefer in your trading platform and analyze its graph in the 2-day time frame. Then apply the SMA (simple moving average) of 15 periods.

 When basically the price of said asset closes above the SMA, you open a buy order on the other hand, when the prices close below the moving average, you have to open a sell order. This is a simple and easy strategy to follow.

 If you take long-term volatility into account, the strategy can be particularly effective if you apply it for an extended period of time. The easiest thing is that you only have to review your positions once a day to make sure everything is okay. Basically this strategy pays off very slowly. 

Also, many of the trades will close with losses and a few will generate profits. You may be wondering how such a strategy can be profitable. Well, the little profit you generate is enough to offset all the losses. 

How you can make money in the Forex market is very easy. So why do 8 out of 10 traders end up failing and leaving the market? The answer is simple: almost everyone wants to be a millionaire from one day to the next. Honestly, Forex trading is no different than other businesses. 

Work is required and luck has no place here. Read on to learn 4 essential steps that will bring you closer to your goals and financial freedom.

First step

There are many companies that want to get you into the Forex market and are not afraid to exaggerate the profits you can make.

 Such companies use messages like: “make money with Forex fast, make money with Forex easily”, although you have to be smarter and see beyond the advertisements. It is very important that you set realistic goals. Despite what the advertising you find on the Internet says, you will not earn thousands of dollars a day in your first week of trading. 

You won't even get it after several years if you don't pay attention to your education!

However, if you are a diligent and persevering trader, you will be able to achieve these kinds of goals over time. If you want to know how to make money in Forex, you have to deeply study the two main styles of analysis in the market (technical and fundamental analysis), read news throughout the year to stay aware of socio-economic factors that may affect currencies. and constantly improve your trading account. Actually, there is no secret to success; only work, perseverance and

Second step

If you want to make money in Forex, you must have single-mindedness and keep going regardless of all the problems you face. Only those who resign themselves to losing and give up on their dreams are the ones who fail.

There are several professionals dedicated exclusively to making money trading multilevel Forex. Financial institutions and hedge funds hire forex trading experts to carry out trades. As you know, Forex has a high trading volume. And 80% of said volume is traded by people like you, only with a little more professional experience.

In short, you should see trading for what it really is: a career, not a hobby. If you wonder how to make money trading Forex, you can find long-term trends and then apply a simple strategy, like the one mentioned above. Over time you will find ways to improve this simple strategy and thus improve your profits. The best ways or ways to earn money trading Forex is, of course, following the trading career. 

The most recommended is that you follow the actions that generate great profits when trading currencies.

Third step

 Motivation is the vitally important factor in success, not only in trading, but in any sphere of life. Many have only money in mind, which in most cases leads to disappointment and failure. In order to make money in Forex you have to find a great motivation other than money.

 Do you want to achieve your financial freedom? Do you want to dominate the main markets? All are valid reasons, as long as they do not involve winning a certain amount of money.

Once you become an investor who earns money trading currencies, the evolution of your career and the success of your plan will depend on you. No one will be able to question you for your actions.