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Talking about fear especially in foreign exchange i think that each trader has their own fear, some overcome it, some still struggle against it, and some even lose to it. Well this material is quite bit difficult to discuss because of its subjectivity where fear for one is not fear for the others. Also fear could manifest easily in one while the others is harder than what they imagine before.

Become your own boss? LOL I never think like that but what I want at first when I decide to put myself in this "shoes" is that want to earn big amount of money, at least adequate for my monthly living and I just spend few times to trade, like 5-7 times per month. The other reason I like about forex is flexibility in trading where someone can choose when he/she should trade.

Some broker do shady thing but the thing i should guarantee you is that there are few brokers which do everything for the sake of comission or money. The do bad thing and even allow money comes from any kind of sources without even need to indetify it. That is the loophole some gangster use to enter foreign exchange.

Euro exchange rate movements in the Asian session weakened against US dollar after opened lower at 1.10872 in early trading, the Euro exchange rate is now rolling on the position of 1.10880 and it showing a bearish trend for it. Euro move negative since the beginning of the Asian trading session by profit-taking after a rebound earlier trade by solid economic data released overnight. Exchange rate may strengthen if the data issued this afternoon shows the data as yesterday jumped to the data Sentix. Technically, EURUSD potential to rise to the range of 1.10990-1.11154 this morning if the correction is not up to the range of 1.10686-1.10482. And today is expected to have the support level at 1.10310 and the resistance level at 1.11322 .

Pound exchange rate movements in Asian session is weakening against US dollar, after opened lower at 1.3039 in early trading. The price of GBPUSD is at 1.29772 .Exchange rate of pound in Asian session has continued the trend of weakening 4 consecutive days before that did not have strong economic data trying to sustain a business. But European session could rebound if the UK manufacturing production data showing a rise in the ONS survey data exhibited significantly exceeded expectations for a rise. It looks like GBPUSD may rise to 1.30753-1.31082 range if the weakening of the pair until later in the day did not reach the range of 1.29670-1.29247.

The movement of USDJPY pair moved positively in the Asian session after opening lower at 102.44 in early trade, and is now rolling is at 102.42. Japanese Yen in early Asian session trying to rebound after two consecutive days' pressure from US dollar by the sentiment of US jobs data last week that may provide power to the Federal Reserve to raise interest rates. Yen experienced a technical rebound after rising to the position of reinforcement 5 days. Economic data which could be the catalyst driving today received negative sentiment from some of the data that is less steady as money supply M2, the Prelim data of machine factory orders. Looks like USDJPY will fall to the range of 101.913-101.591, but if it is not until the range can go up again to 102.712-103.057

Aussie exchange rate movements in Asian session still moving weak against the US dollar, after opening higher at 0.76511 at the start of trading, the Aussie exchange rate fell by 20 pips and current value of AUDUSD are at 0.76311. Exchange rate of the Australian dollar early Asian session retreat after earlier rose by strength in crude oil prices weakened by the decline in consumer sentiment data of NAB survey and less solid Chinese inflation data which discourage investors to buy more Aussie. Technically AUDUSD price will fall further to between 0.76176-0.75842 or even further down, but if it does not reach the range, it can go up to 0.76733-0.76900. So the normal range on the AUDUSD pair is estimated to have the support level at 0.7560 and the resistance level at 0.77150.

After a successful rally for four consecutive days, the US dollar forex trading Asian session returning show strength against all of its major counterparts except the yen. Technically, the dollar was already in the condition of saturation point so ready for correction and fundamentally today propulsion main rivals little show of strength. The strength of the dollar to rally sentiment was obtained from the US non-farm payrolls in July rose above expectations at the end of last week. US labor market conditions can provide power for the Fed to raise interest rates again this year. For the movement today, America is no significant data affecting the dollar but in the European market would be no fundamental economic data as a rival in the European region are expected to lift the euro and sterling exchange rates. No release of data such as data tonight NFIB Small Business Index, Prelim Nonfarm Productivity q / q, Prelim Unit Labor Costs q / q and Wholesale Inventories m / m. The dollar index, which measures the strength of the US dollar against six major currencies trading the Asian session after a positive move opened higher at 96.31 and rolling positions at the position 96.41. Previous trading the US dollar index rose to 0.1 percent.

Crude oil prices surged in late trading Tuesday morning, amid renewed speculation that OPEC will try to restrain production, easing fears of oversupply which made the market fell last week's three-month low. US crude oil futures price of West Texas Intermediate (WTI) ended 2.92 percent higher at 43.022 per barrel, while Brent Oil price futures traded at 45.332 a barrel, up around 1.065. The increase comes on the back of the Wall Street Journal reported last week that OPEC countries such as Venezuela, Ecuador and Kuwait want to hold production cooperation among 14 countries of the Organization of Petroleum Exporting Countries and non-members such as Russia. Currently, it estimated that Crude Oil price at the next trade will weaken with the strengthening of the US dollar after strong US jobs data and a global glut sentiment. However, if the OPEC countries to hold discussions continued production area, would help Crude oil price rise. Prices are expected to penetrate and ended up between the range of 42.500 - 42.003, and if the price rises will ended up between the range of 43.502 - 44.001.

Gold prices fell slightly in late morning trading Tuesday, after hitting a one-week low on Monday, with the emergence of new expectations of US rate hike after data is non farm payrolls were stronger than expected. US job creation rose more than expected for the second consecutive month in July and wages rise, reinforcing expectations of faster economic growth, and increases the probability of the Federal Reserve interest rate hikes this year. Nonfarm payrolls rose 255,000 after an upwardly revised 292,000 jobs in June, with broad-based employment creation in all economic sectors, the Labor Department said on Friday. Economists polled by Reuters had forecast payrolls increased by 180,000 in July. Analysis of the potential price of gold will rise with Wall Street weakness that could affect the weakening global stock markets. But if sentiment rise in US interest rates continue to be strong will suppress the price of gold. Gold prices are forecast to exceed the range of 1.3386 to 1.3404, and if the weak price will penetrate the range from 1.3342 to 1.3322.

That is nice post, yes that IB will get money because they redirect someone to join a broker under them. This could be a semi passive income for IB. I also want to say that rebate is a good thing as long as you become wise when you use it. Don't change the strategy just because you get some rebates to reduce the risk, make sure you know what you do and always still manage the risk. Rebate is just another tools you must use to increase profit or to reduce loss.

Not so hard not so easy i can say it is risky but in lower high level. Means if you know that you can reduce the risk to something that you never think before. I also first think forex is so hard and postpone my intention to learn about it but after read for some materials about forex i come to think it is so easy which led to my loss. Now i know that money management is important aside from profitable strategy, and this is why i think forex is not that hard nor easy .

Economist could be a good trader if they want, they must be know how to separate their emotions and control it because they act for the sake of fact on the economy not because they just want to earn or something like that, but still primary motivation is money. Also I think this doesn't deserve much discussion and it seems that people have their own preference in this case. In the end i must admit no one is better than other in forex.

Sure that is right, but when it comes to fixed spread it is clearly dealing desk. Remember that broker offset the liquidity on the market by increasing and lowering the spread. When the market is crowded means full with transaction and open position that's when spread is fall as low as possible and when market has small liquidity that's when spread is up. This is why if you have access to the weekend market you will see small movement with very high spread even for currency like EURUSD. So, to conclude this all i think it is depend on them this is why i agree with you. But one must be wise when choose what kind of broker they want to choose, don't be blindly by just lower spread or zero fixed spread account.

All traders should be like you, open to all kind of pair. The key is that as long as that pair have bigger profitability. I am sure some people stick with few such as EURUSD or if not GBPUSD. But if you can make profit from NZDUSD for example, you should choose it. Profit doesn't know about what kind of currency you choose.

Sure it s not safe but not so risky even i must admit that you also can make much more loss if you don't focus on how to manage all of your money. The most profitable expert advisor is from some groups or people who dedicated to make it, usually a big trading company. Their tailor made program could bring much more benefit to their organization and it must work well at least 95%.

Thanks but i want to add that using VPS means that you must spend your money for it also if you decide to built your own VPS then it takes lots of setting and i think that it would ruin much of your experience to trade. Make sure you have good robot before try VPS because it is just like 24 hours computer for you where you have remote access for it.

I trade 0 days per week up to 5 days per week. All depend on the circumstances. I can't trade if i want, i trade because there is chance and because after that chance is showing up all the indicators i put saying that i must trade. If those indicators say otherwise i should reconsider or even if i want to trade i must make sure that is worthy that i can grab few profits or suffer few losses.

I agree with avoiding your bad emotions, or to be exact make sure it is under control. I really love the quote of Warren Buffet about greedy and fear. It means that trader should have control of both. I know those two are emotions which people trying to avoid but if you able to control it there is greater chance for you to create a new opportunity to be a profitable trader.

Australian dollar(Aussie) exchange rate in the end of the Asian session has not been able to rebound after last weekend hit by the strengthening US dollar after the jobs report in July impressive. And the fundamental strength of the US dollar is still good at the market. In addition Aussie received additional pressure from the data of job advertisements Australia experienced a contraction in July, according to data ANZ. Technically AUD/USD right now is fall down further to around 0.76392-0.76544 , but if it does not reach the range then it can be corrected to 0.7582-0.7657. So the normal range on the AUD/USD pair estimated to have the support level at 0.76774 and the resistance level at 0.75433.

Amid strong US dollar against many of its main rivals in the European session on Monday, Euro exchange rate rebounded and tried to cut the weakening of the previous 3 consecutive days. Workers who lifted the euro this afternoon from 2 economic data released, the German industrial production data and consumer sentiment data by Sentix. Both the data showed positive data, but the data provide a strong force after the start of the European session pressured by the fundamental strength of the US dollar, namely Euro area consumer confidence data which jumped from 1.7 to 4.2 in the latest period. These data make Euro weakened last week trying to trim. For the next trade until the close of trading ending the American session tomorrow morning, EURUSD can be corrected to the range 1.10722 - 1.10336. But if the price cannot fall the the price may climb back up to the range of 1.11170-1.11450.

After observing the movement of GBP exchange rate on European session on Monday, GBPUSD pair has continued selling pressure entering the third consecutive day. US dollar fundamentals that receive power from positive US NFP data late last week made a pair rebounded effort weak . In the European session forex trading at the price opened at the lower price which is exactly at 1.30782 as it seems the signal of weaker Pound is true especially in early Tokyo Session. In EU session Pound exchange rate fell by 11 pips and the rolling values are at 1.30677. For the next trade until the close of trading American session which ends tomorrow morning, it looks like GBPUSD could fall again into the range of 1.30287-1.29343. But if it does not reach this range, the pair will rise back to around 1.31180.

The movement of the yen in the European session weaker against US dollar, and it seems that USDJPY opened higher at 102.002 in early trading after that rose 0.4% and the rolling value of this pair is at 102.360. Japanese yen exchange rate movements in the European trading session on Monday is still not able to get up beat its main rival which is US dollar after briefly rose in early trading. The yen's strength could not resist the influence of strong US NFP data last week that raised expectations of Fed rate hikes this year. For the movement hing pair USDJPY pair subsequently can only rise steadily to around 102.751-103.955. But if it is not up to that range, then USDJPY may fall back to around 101.062 or even lower.

USDJPY pair movement in the European session were weak especially since the price also opened lower at 101.211 in early trading, and the value of the rolling is at 100.940, seeing more weak trend for USDJPY pair. But, Japanese yen will be still remains in the top European session against US dollar weighed NFP data release tonight alarming fed rate hike expectations this year. But if NFP data is positive then the US dollar will be raced and beat yen. Technically USDJPY still can get down to the range of 102.048-102.386, but if it is not until these ranges can descend again into 100.565-100.071. The normal range on the USDJPY pair is expected to have the support level at 99.832 and the resistance level at 102.262.

Aussie exchange rate movements in the European session is still moving strongly against US dollar, after opening higher at 0.76271 at the start of trading, the Aussie exchange rate rose 31 pips and the rolling values are at 0.76580. Exchange rate Australian dollar managed to rally in the European session to continue the previous trading by market expectations that positive action to Overcome the risk Brexit BOE to cut interest rates to record lows. The increase is in the Australian dollar managed to ignore the decline in crude oil prices return. Technically AUDUSD rose to around 0.76713-0.76892 further, but if it does not reach the range, it can be corrected to 0.76000-0.75822. The normal range of AUDUSD is estimated to have the support level at 0.756055 and the resistance level at 0.770007.