I am delighted to have a reader from a well known forex advisor from USA. I like his fundamental points of views on US economy.
Some of my prospects asked me how to make money in Forex market, they want fast money and huge return. I told them that I am not a machine which can calculate the exact entry and exit points.
To make fast money and huge return, machine is computerized to create fear and greed to attract the victims.If you are a novice trader, you will be experiencing what I explain below.
Let me give you a scenario, you think EUR/USD will go up and buy EUR and target certain profit. Once the market start going up before reaching your exit point, your emotion start playing. You either want to enter more trade or take profit. The first explain greed and the second explain fear in you. Once you enter another trade, the market may work against or for you.
To estimate accurately the entry and exit point is almost impossible. There are always two forces pushing each other to drive the price up and down. If you at the wrong side of the forces, you will be making losses.
There are many types of traders; scalped, swing, momentum, long term traders. The big boys will use all types of methods to affect trader psychology. If you want fast and huge profits, I strongly suggest you don't trade forex, as it may turn out fast and huge losses.
*For forex market, Fast=1 day to 1 month. Huge=10% per week to 100% per month.
