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Knowledge money? By the way knowledge will give the result, and that result is experience. The more we try to practice based on the knowledge we have the more we get skills or to be exact our skill is better or sharp. That applied to our analytical skill, first we get know knowledge how to and we apply it so we are familiar with it. In the end, myth is always be myth. Some of this myths make us feel forex is inherently evil or so, or forex as a very good place to earn money.

Scalping in fact requires more order and more bytes send by your broker which means that they might need more bucks to handle that stream. Well, that is one of the thought of some people who are into forex. But i think as long as your broker is legit and big enough also really serious into this business, scalping is actually not a big deal for them.

USDJPY pair movement in Tokyo session after a strong move to opened higher at 102.38 in early trading , and the value of the rolling is at 102.505. Japanese Yen end of the Asian session moving consolidation since the beginning of trade and tend to move negative by weak economic fundamentals of Japan after BOJ stimulus and also poor manufacturing performance data of the country last month. Technically USDJPY still can rise to the level of 103.202-103.851, but if it is not up to the range can descend again into the range of 101.907-101.465. So i argued that the normal range of USDJPY pair is estimated to have the support level at 101.000 and the resistance level at 104.420.

The movement of EURO exchange rate in European session was moving strongly against US dollar, after opened higher than the previous trading at 1.11645 in the early trading, naturally EURO exchange rate gained 27 pips and roll values are at 1.11912. At the beginning of European session, there is a release of economic data that showed Spanish state unemployment data increased from the previous month period, but still showed positive data. Because the data released is lower than economists forecast to increase existing data. Data showed on -84K position while economists forecast in -70 and the previous data at 124K. For the next trade until the close of New York session tomorrow morning, EURUSD seems to be able to rise to the range 1.12202 - 1.12375, but if the price cannot reach the above range will drop back to the range of 1.09762.

On Tokyo Session, Aussie exchange rate movements is still having consolidation against US Dollar, after opened higher at 0.75388 in early trading, the Aussie exchange rate is flat and rolling value is at 0.7538. Australian dollar exchange rate at the end of the Tokyo session consolidation moves ahead of the RBA monetary policy announcement will be reported shortly. RBA expected to loosen policy by lower interest rates and if this happens despite the less favorable exchange rate of the Australian dollar oil prices Crude rebounded on Tokyo session. Technically AUDUSD may fall into the range of 0.75055-0.74745, but if it is not up to the range price will move up to the range of 0.75722-0.76482. So I argued that the normal range AUDUSD pair is estimated to be has support level at 0.73874 and the resistance level at 0.77351.

The exchange rate of Pound in the middle of European session forex trading moved back positive after being weakened as the European session opened, which caused a positive response because of the result of UK PMI construction data. Before the data was released pound weakened by disappointing data estimates, but soon reversed direction when the data is positive. Markit issued the report performance data for the UK construction in July which shows the data increases attenuation exceeding expectations and slightly below the previous data. The index fell to 45.9 from 46 in June, higher than the 44.2 forecast. For the next trade until the close of trading American session ends tomorrow morning, it looks like GBPUSD can climb back into the range of 1.3280-1.3310. But if it does not reach this range, this pair will fall back to around 1.3135.

It keeps decreasing since more people gain better understanding about forex, and also more people who enter this business and keep trading which means the money inside circulated is big enough, It is more than $5 trillion turnover per day up to this post. Trading in forex is profitable but risky at the same time, and it is not that easy nor so freaking hard.

Fear for each trader is different, some traders maybe afraid to one situation or condition while the others are trying to embrace it and make sure that they don't lose so much with it. On this stage someone with biggest fear against the certain situation may find theirselves cannot even concentrate or simply want to avoid that situation to avoid further losses.

Chinese Yuan or Reminbi is managed floating currency for now. It means the market could influenced it but government has rights to enter the market and stabilize the price with its own means. They don't peg it now technically but if there is crisis in this few years later i am sure that Reminbi will try to peg it to USD once again.

@radex78 Sure that is what we should do now and not less than that. Spending what you can afford even that is your time, this is investment in fact. Spend around 5-6 hours to trade in demo account every once or everyday in a week would give you much insight how to deal with forex loss or even to control yourself when you make profit, this is very important before you can start to earn money as forex trader.

I actually rarely or i can say i try unpopular pair just a few times. Unpopular pairs has some disadvantages such as low movement, unpredictable movement, and high spread. But there is a time where you can be a market maker, since the liquidity is low your act could bring the difference to the market, but mostly people avoid it including me because of those advantages i said above.

It would be popular and always be popular as long as people want it and i think it won't end. Forex especially spot is really helpful plus of its leverage. It is one of the most popular business because it is easy to understand the concept(buy low, sell high) and thanks to leverage anyone can trade with just small amount of bucks which help to lower the barrier of forex.

Movement of USDJPY in the Asian session is weakening with the price was moving to lower price after opening flat at 102.331 in early trading, and the rolling price is at 102.333. Japanese Yen at Asian session moving end of consolidation since the beginning of trade and tend to go negative by some profit-taling conducted by the market after successfully reaching the top 15 against US dollar. However the gloomy USD fundamental triggered Yen back once again. It seems that USDJPY still fall down to level of 101,701 up to 101,105, but if it does not reach these ranges can go up to the range of 103,486 to 103,502. So that the normal range on USDJPY pair is estimated to have the support level at 100.858 and the resistance level at 103.900

Aussie exchange rate movements in Asian session still moving strongly against US dollar, after opening higher at 0.75911 in early trading , the Aussie exchange rate rose around 21 pips and roll values are at 0.76126. Australian dollar exchange rate last end of the Asian session rally by the unfavorable movement of the US dollar and is also supported by a rally in crude oil prices. Until the evening session is expected the Australian dollar will continue to rally the support projections of crude oil prices is increasingly rising. Looks like AUDUSD will rise to the range of 0.7630-0.7652, but if it does not get that range it will move down to the range of 0.75682-0.75044. So the normal range on the AUDUSD pair is estimated to have the support level at 0.75044 and the resistance level at 0.76763.

European session pound exchange rate movements moving strongly against the US dollar, after the opening price higher at 1.32419 at the start of trading, the Pound exchange rate rose 0.8% and the value of the rolling is at 1.31722 Exchange rate of the European session pound moved lower by profit-taking market is responding to the bad economic data that show the performance of the UK manufacturing survey by Markit which is increasingly contraction. It seems that GBPUSD could fall into the range 1.30870- 1.30290, but if it does not reach the range, it can rise again reaches the range between 1.33085-1.33475. So the normal range of GBPUSD pair is estimated to have the support level at 1.29921 and the resistance level at 1.34146.

Euro exchange rate movements European session moves to strengthen against US dollar after opening higher at 1.11759 at the start of trading, the Euro exchange rate is now rolling on the position of 1.11715. Euro sign in the European session had cut the power of its rally by Spanish and Italian manufacturing data which are lower than previously expected decline. However, manufacturing data picked up again by Germany, France and also the area that shows the increase in data. Technically, EURUSD's potential to rise to a range of 1.12007-1.12217, but if it is not happens up to this range then the pair may fall further to around 1.11474-1.11116. And today is expected to have the support level at 1.10676 and the resistance level at 1.12583.

One thing that i don't like in futures than spot( i trade in spot dude) that in the futures , your position may be liquidated at a loss bigger than what you had in your account, and you will be liable for any resulting deficit in the account. That sucks for someone who trade in spot forex too like me. Futures market also don't have any price certainity.

This is the fact of the world i am just merely stating the fact that not everyone can make money, sometimes we lose too. I just want to emphasize that part because many people i've meet so far thinking they are some kind of chosen one. They can make much more profit withe lesser losses but what? They lose nearly all of them has bad trading history.

Before choose someone who want to be our mentor we should think is this will cost us a lot or not. If that cost you a lot you should think will the return is equal or even more. Mentoring should give you more advantage when learn since you will get more direction which make your training and learning more efficient. Have some problem and you can solve it faster

Of course it is more transparent especially when you compared it to HYIP which is less transparent, even some exist which is transparent it usually stay longer but in the end will collapse. One thing that i know about PAMM is that PAMM requires higher minimum deposit this is what usually happen, not always but most of pamm manager prefer big amount of money and usually impose some strict rules to their investors.

That carry trading strategy for sure don't bring much trouble to us if we know how well we can cope with the way of author share to us. It is pretty simple since it needs much more fast internet and also bigger capital, if i don't mistake the author said around $5000 for each broker, but i would go to $10000 if i must since that gives better return than less.

But remember once that forex AI is still AI, it works based on the code which you put there. Also it is better to know what are your forex AI. Is your forex AI do the same strategy just like what you do, and does it has risk management? I mean something like SL or TP or can you can set that both manually or not? There are a lot of things to ask but overall that is what you should know.

Why i should worry about that? I mean the market is depth enough and i can even see more movements rather than others. Not to mention brokers work based on their own preference but basically is the same except for the dealing desk broker where it is possible them to change the course of market by theirselves because they are the market maker.

Rebates technically is fine for each traders, with rebates a trader able to lower the risk just like what you said here. Rebates in the other hand just one of the bonus from a lot of bonus which your broker give to you as compensation to bring someone to join and use their services under your link. Remember, this could be applied if your downline is active and order a position.s

I am full fundamental traders right now. I need to earn more with that, not to mention the importance of news in forex trading is big thing, i can trade once in a month and still earn, or twice or even 3 times in a month. Also the accuracy of news is high, i know sentiment is above the others but still in fact we cannot ignore the importance of fundamental factor.