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Forex Myths

# Practical Forex , #Forex for beginners , #Forex for dummies

To make money on Forex, you need to track the market 24 hours a day, without wasting time on food and sleep?

Is it true that real success in Forex is a kind of closed book that no one has seen, and if he saw and read, he will not show?

Who is the author of Forex textbooks and other books – non-practicing analytic theorists?

If someone offers their Forex trading tips for money, is he just an analyst theorist with no practical experience?

Are traders truly super-professionals that only a few can become?

To be successful in Forex, you just need luck, is that right?

They say that to make money on Forex, you need to have good friends in the leading banks of the world who promptly supply the necessary information about the expected fluctuations in exchange rates?

Is it true that Forex training is expensive and time consuming?

Is it true that Forex is a kind of “pyramid” where only those who have come here for a long time earn money?

Is it true that only banks and organizations with large amounts of money can trade in the Forex market?

Can you say that the best conditions for trading are created in Teletrade Group?

Is the statement true that the lower the spread, the more favorable the terms of trade?

Is it possible to regularly make a profit working on Forex?

To make money on Forex, you need to track the market 24 hours a day, without wasting time on food and sleep?

No one is constantly monitoring the market. Each trader chooses working hours convenient for him and trades when he sees an opportunity for this. Of course, at a time when the trader is resting or busy with another matter, he misses a lot of profitable deals. But you won’t earn all the money, and no one sets such goals. In addition, all people are different: some spend 2 hours a day on trading, while others spend every free minute at the monitor. It is important to understand that even an experienced specialist cannot accurately predict at any point in time where the price will go. The task of a skilled and successful trader is to choose only those moments for transactions when the currency movement is well predicted.

Is it true that real success in Forex is a kind of closed book that no one has seen, and if he saw and read, he will not show?

Speculative Forex trading is an important source of income for many banks, investment and hedge funds. Of course, some information can be gleaned from their dry reports, but real money is made for banks and funds by real people. We are used to talking only about those whom we personally know. People working in the financial sector communicate with each other, and each of us, who has been working in the market for a long time, has heard many stories from colleagues about successes and failures and could tell a lot. Over the more than 20 years of the existence of the TeleTrade Group of Companies, under the brand name of which the “Teletrade Group” operates, thousands of successful professionals have been trained working in different countries of the world who have made Forex trading their profession. And a much larger number of private investors who have gone through our school

However, as you know, money loves silence, and therefore not every trader will begin to tell the first comer about his successes. Someone is afraid of “jinxing”, causing envy, and the other does not want to spray his strength on unnecessary chatter. As for the results of trading on specific accounts, then, of course, this information is confidential.

Who is the author of Forex textbooks and other books – non-practicing analytic theorists?

Analysts of the Teletrade Group company, as well as specialists from partner companies, are the authors of several popular books on the Forex currency market. Among them are such bestsellers as “Forex is easy” (author – Irina Kaverina, head of the educational center – a partner of our company, a trader with many years of experience), “Forex: from simple to complex” (authors – I.V. Morozov, currently a lecturer at the Finance Academy under the Government of the Russian Federation, and R.R. Fathullin, one of the developers of the MetaTrader trading platform), “The Art of Being Peaceful. Mechanisms for making trading decisions in the Forex market ”(author – Peter Pushkarev, leading analyst at TeleTrade Group of Companies, a trader with many years of experience).

If someone offers their Forex trading tips for money, is he just an analyst theorist with no practical experience?

People offering their services privately can be motivated by various motives. Among them are both professionals with a good reputation, and pure theorists who do not have practical experience, and even ordinary adventurers. Before using someone’s recommendations, try to get as much information as possible about the trading results of your future consultant, about the methods of his work, find out how others respond about him.

All analysts of Teletrade Group and companies within the TeleTrade Group of Companies have extensive experience in concluding profitable transactions in the Forex currency market.

Are traders truly super-professionals that only a few can become?

Among successful traders are people with different levels of education, technical and humanitarian mentality, unlike each other, men and women of different ages. Any person who expresses such a desire can become a trader. Sign up for a free Forex seminar from the TeleTrade Trading Academy and see for yourself! And your personal educational trading results will show how successfully you manage to apply the acquired knowledge. This will help to understand if you have the makings of a currency trader, as well as assess the level of potential success.

To be successful in Forex, you just need luck, is that right?

Successful Forex trading depends on a number of factors. Chief among them are the following:

  • a thorough study of all aspects of Forex trading;
  • reading specialized literature on financial markets (a list of recommended books and CDs is in the “Training Materials” section);
  • work with analytical materials on the foreign exchange market, such as, for example, the Dow Jones news feed;
  • well-thought-out and verified trading strategy;
  • cooperation with a reliable company that has long been working in this sector of services.

They say that to make money on Forex, you need to have good friends in the leading banks of the world who promptly supply the necessary information about the expected fluctuations in exchange rates?

You can get all the necessary analytical information about the state of the currency market from the Dow Jones PRIME-TASS news feed, the content of which is not only news, but also a summary of the markets, as well as comments by professional analysts. During the day, several reviews of the foreign exchange market with forecasts are published.

The Dow Jones news feed is a stream of the most relevant news in Russian and English, which comes in real time 24 hours a day, 365 days a year. This is a premium information and analytical product. It is intended for currency traders, as well as for everyone who is interested in obtaining detailed and most up-to-date information about global financial markets.

The Dow Jones PRIME TASS news feed is available to all our customers who have both real and demo accounts. This service is free for Teletrade Group customers.

Is it true that Forex training is expensive and time consuming?

TeleTrade Trading Academy offers free distance learning courses for beginners and experienced traders. During the training, you can get both basic and in-depth knowledge about Forex trading. In addition, you will work on a demo account, study strategies for behavior in this market, consider examples of successful trading and scenarios of behavior of traders in different situations. You will learn to predict the price movement, learn how not to fall into the trap, understand the reasons for the market change and will be able to make your own trading decisions.

Is it true that Forex is a kind of “pyramid” where only those who have come here for a long time earn money?

Forex is traded by millions of people around the world. Among them are those who have been doing this for a long time, and those who are just taking their first steps in the foreign exchange market. Therefore, you can also start trading Forex right now and secure financial independence for yourself.

To learn more, go through free training and open a demo account! Your personal training trading results will show how successfully you manage to apply the acquired knowledge. This will help to understand if you have the makings of a currency trader, as well as assess the level of potential income.

Is it true that only banks and organizations with large amounts of money can trade in the Forex market?

Anyone can trade on Forex, because you can start trading with a relatively small amount of money.

Nevertheless, in order to understand the logic of the currency movement on Forex and find patterns, it is necessary to study the mechanisms of making daily trading decisions in the largest financial institutions in the world. After all, it is they who sell and buy the largest quantities of currency, which means that it is their decisions that drive the market.

At the TeleTrade Trading Academy, we talk in detail about the strategies used in investment and hedge funds, influential banks. And most importantly, how a private investor with a small capital can build his work on Forex based on them.

Can you say that the best conditions for trading are created in Teletrade Group?

The Teletrade Group company strives to create the best conditions for its customers. It is very important for us that everyone who has used our services feel this. At the same time, we consider it irresponsible to lure people with impossible promises and look forward to a reasonable approach and understanding on the part of our clients in this matter.

Teletrade Group declares conditions that it clearly fulfills. Our quotes will not constantly shift by several points when opening or closing a transaction. You may be offered a different quote only if the market price really managed to change during the transaction. This is also possible due to the fact that Teletrade Group receives market information from the world leader in providing data on financial markets – the company Thomson Reuters. We can offer our customers a consolidated stream of quotes in real time from different exchanges. In addition, reliable and reliable data from Thomson Reuters gives Teletrade Group customers the opportunity to make the right decisions in a volatile and continuous flow of quotes.

We carefully monitor the range of services offered in the main market segments and can confidently say: our conditions are one of the best, they reflect the interests of customers to the maximum with the current level of development of financial technologies.

Is the statement true that the lower the spread, the more favorable the terms of trade?

Not. Spread is not the most important thing in terms of trade. Why?

First, a company’s announcement of very low or almost zero spreads is most often a common marketing ploy to attract customers. Moreover, in the conditions of trade, inconspicuous reservations are always made about the possibility of expanding the spread with faster price movements. In practice, this means that a low spread is provided in individual real transactions, but for the most part, such a spread is preserved only in indicative quotes available for public viewing and on demo accounts. Moreover, in many cases, when concluding a specific transaction, the client may be offered a much higher spread. Or the quote is simply shifted to the disadvantageous side for the client, especially when closing a deal. This is understandable, because spreads are the main source of income for a dealing company,

Secondly, populist statements about practically zero spreads, as well as about other conditions unrealistic for the market, are often resorted to by newly formed companies that are only looking for their niche in the field of financial services. If the company really begins to fulfill its promises, then in any case it is a short-sighted policy. And it is necessarily fraught with high risks for such a company and for its customers, and therefore is incompatible with the long-term financial stability, stable income of the company itself, and therefore with reliable bank guarantees of the safety of your deposits and your profits.

And the last one: very often timely and accurate service is much more important for concluding the most profitable transaction, which allows you to quickly get a quote that suits the client with fast changes in price. And if in the conditions of trade a very low spread is prescribed, then it is impossible for the company to quickly conduct a transaction at a given price at the market.

Is it possible to regularly make a profit working on Forex?

Forex has existed for more than 30 years, and during this time a huge number of people have made trading on the foreign exchange market their profession, receiving regular stable income. As for our country, here the opportunity to trade on Forex appeared in the early 1990s, and since then hundreds of thousands of people have chosen to work as a currency trader, having gained financial independence.

All tags

Total 87 materials
  • Forex Indicators (56)
  • # Forex Strategies (36)
  • # Earnings on Forex (35)
  • # Practical Forex (23)
  • # Forex for beginners (19)
  • # Forex for dummies (16)
  • # Technical analysis (11)
  • #Trading (6)
  • # History of world currencies (5)
  • # Forex Brokers (2)
  • # Fundamental analysis (2)
  • #CFD (1)

To conclude a framework agreement, the client is obliged to confirm that he is familiar with the following risks associated with the conclusion, execution and termination of obligations under the framework and individual agreements:

1. The risk of loss to an individual as a result of changes in foreign exchange rates (currency risk).

2. The risk of loss to an individual as a result of non-performance, untimely performance or incomplete performance by the Forex dealer and (or) the bank in which the Forex dealer account is opened, financial obligations to such an individual in accordance with the terms of the Agreement and Separate Agreements (credit risk )

3. The risk of loss to an individual as a result of a violation of applicable law and (or) internal documents of a Forex dealer by employees of a Forex dealer, a malfunction (failure) of software and hardware of a Forex dealer and (or) individual, a mismatch of software and hardware of a forex dealer to the nature and volume of transactions it conducts, transactions by a third party on behalf of an individual as a result of receipt by such a person randomly or as a result of his deliberate actions of unauthorized access to the possibility of making such transactions on behalf of an individual, carrying out operations by an individual that are not in accordance with his intentions, for reasons related to insufficient experience of working with this individual with software and hardware of a forex dealer and (or) making it random actions, as well as the result of external events (operational risk).

Contracts or financial instruments proposed for conclusion are highly risky and may lead to the loss of the deposited funds in full. Before making transactions, you should familiarize yourself with the risks associated with them.

  • ABOUT COMPANY
    • About Teletrade Group
    • Risk Disclosure
    • company’s news
    • Information disclosure
  • METATRADER 4
    • For windows
    • FAQ
  • FOREX DEMO ACCOUNT
    • Open Forex Account
  • FOREX TRAINING
    • Distance learning
    • Forex Video Tutorials
    • Forex training for free
  • CURRENCY PAIRS
    • AUD CAD
    • AUD JPY
    • AUD USD
    • CAD JPY
    • EUR AUD
    • EUR CHF
    • EUR JPY
    • EUR USD
    • GBP CAD
    • GBP JPY
    • GBP USD
    • NZD CAD
    • NZD USD
    • USD CHF
  • EXCHANGE RATES AND CHARTS
    • AUD CHF
    • AUD NZD
    • CAD CHF
    • CHF JPY
    • EUR CAD
    • EUR GBP
    • EUR NZD
    • GBP AUD
    • GBP CHF
    • GBP NZD
    • NZD CHF
    • NZD JPY
    • USD CAD
    • USD JPY
    • SGD JPY
  • FOREX FOR BEGINNERS
    • How to make money on Forex
    • What is a forex exchange?
    • Trading is a 21st Century Profession
    • How can a beginner make money on Forex?
    • Pivot Points
    • RSI indicator
    • Moving Average indicator
    • Indicator Know Surely
    • TDI indicator
    • SD indicator
    • OsMA indicator
    • RSI Strategy
    • ROC indicator
    • TRIX indicator
    • Ichimoku indicator
    • Stochastic
    • How the ADX indicator works
    • CCI indicator
    • Stop loss and Take Profit

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