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What is the Forex market?
The Foreign Exchange (Forex), also abbreviated as “FX”, is the world’s arena for exchanging one nation’s currency for that of another. The foreign exchange market is the largest financial market in the world, with more than $5 trillion exchanging hands each day. This is seven times the aggregate amount of U.S. Equity and Treasury markets. The Forex market is unique in that it has no physical location and no central exchange.
When is the Forex market open?
The Forex market never sleeps. It’s open 24 hours a day, 7 days a week. A common misconception is that the market closes over the weekend. The truth is that the market continues to operate even on Saturday and Sunday in order to facilitate international business transactions, among other things. However retail trading is restricted during this time, thus giving the retail trader a chance to make money between Sunday at 5pm EST and Friday at 5pm EST.
Who trades Forex?
The Forex market is made up of several different players, ranging from multi-billion dollar corporations to just one individual trading from his/her home. The market is segmented between commercial participants and retail participants. The commercial players include central banks, investment managers and hedge funds and corporations, just to name a few. Retail traders are individual speculators. These traders make up a much smaller group that produces $50 to $100 billion in turnover each day.
How can Forex trading benefit me?
Have you always dreamed of financial freedom? Maybe you want to start your own business and need a way to supplement the income it brings in. It doesn’t matter what your goals are – Forex trading may be the solution you have been looking for. This high-reward, high-risk market has plenty of opportunities for the patient, insightful investor. You do not need to spend all day researching and watching the market; currency trading only requires you to dedicate a small portion of each day to it, leaving you with more time to spend following your dreams!
How do I make money trading Forex?
Making money trading Forex involves betting that the value of one currency will increase relative to another. This involves the trading of “pips”. Pips are just another name for points in the Forex world. The idea is to capture pips. The value of one pip depends on the amount being traded. For example, trading one standard lot means that each pip is worth $10 when trading a major currency pair. So if you capture 100 pips on EUR/USD while trading one standard lot, you just made $1,000 in profit.
Is trading a form of gambling?
Not necessarily. At least not in the traditional sense of gambling. In order to become a consistently profitable Forex trader, you have to start thinking like the casinos. A casino makes business decisions based on probabilities, not possibilities. By thinking in terms of probabilities, you will inevitably begin stacking the odds in your favor. That’s how a profitable Forex trader thinks.
Is it possible to become a successful Forex trader?
Absolutely! In fact the only thing that separates the successful Forex traders from those who aren’t is the fact that the successful traders never gave up. Although becoming successful is certainly possible, it doesn’t happen overnight. It requires formal training and no small amount of effort and persistence.
How much time do I need to dedicate to trading each day?
This depends upon what style of trader you are or want to be. We have some clients who trade for just a few minutes per week on the Daily and Weekly charts, and others trade certain hours during the day on the lower time frame charts.
What time frame charts can I trade with your system?
Any time frame chart can be traded. If you like to trade less but with higher probability we would suggest the 4 Hour, Daily and Weekly charts. If you prefer more action you can trade the 1 hour charts or lower. Some of our students trade only the 5 minute and 15 minute charts. Really this depends upon you and what time frame charts you find suits your available time or trading personality. The great thing with our trading strategies is it is not limited to just one time frame chart or just a certain time of the day.
What broker or trading platform do you recommend?
How long does it take students to learn your trading system effectively?
Every student is different. However, with the right education and mentorship, it will takes about 3 – 6 months to become a consistent and profitable trader. Those who don’t rush succeed. Those that rush the process will usually fail.
What percent of Forex traders actually make money consistently?
Studies show that just 10% of Forex traders actually make money. That means a whopping 90% of traders lose money consistently. Why is that? Simply put, the 90% of traders who lose don’t have a defined edge – something that stacks the odds in their favor. The absence of a sound trading plan and money management strategy are other commonalities among losing Forex traders. But above all else, 90% of traders struggle because they are making emotional decisions on the basis of fear and greed. This is why a comprehensive Forex education is vital if you want to make it to the top 10%.
How can I get started trading Forex?
Getting started trading Forex is easy. All you have to do is contact a broker,open a trading account, deposit money and start trading. That said, the ease of getting started trading Forex is part of the problem. Most professions require a degree, typically spanning four years time. But with Forex, you can begin trading today from the comfort of your own home. While this may be tempting, it’s important to understand that only 10% of Forex traders make money consistently. Those traders have studied long and hard to get where they are and you will need to do the same if you wish to succeed. Be sure to get educated before you start trading with real money.
How much money can I make trading Forex?
The amount of money you can make trading Forex is largely dependent on several factors. However the true answer to the question is that there is no limit as to how much you can make. At the time of this writing, the Forex market is a $5.2 trillion marketplace and many traders have gone on to make billions – but it isn’t easy by any stretch of the imagination. How much you make depends on several factors including but not limited to your trading education, your ability to remain unemotional as well as how much money you start with.
What currency pairs can I trade with your system?
You can trade any currency pairs with our trading strategies.
Can I repeat the online course?
There is no limitation as to the amount of times you can study the online course. The online course is available to you 24 hours a day, and you may repeat the course as many times as you may see fit.
What if I don't have the technical skills to setup my trading platform?
No worries. You can always email us and our professional team will assist you. If we can't resolve your issues via email we will use remote software to connect with you and resolve the issue.
What is the core principle behind your system?
Boss Trader's core trading philosophy is based on technical analysis and pattern recognition. We utilize a proprietary approach that combines three key elements: Price Action, Support and Resistance, and Market Structure.
Do I have to watch my trades all day long?
Depending on the time frame of your trades. For longer-term trades you can set and forget as long as you set stops. Our system tells you where to take profit and where to set your stop loss.
Do you have some sample trades I can review?
Yes, please go here to see some recent real money trades.
How can Boss Trader courses and mentorship help me?
Studies have shown that the best way to learn anything is to immerse yourself in the subject. Boss Trader will do exactly that by giving you access to our comprehensive training videos and one-on-one personal coaching. We take an active role with all of our students. Our goal is to make you a profitable trader by providing an experience that we know you’ll love and that has been proven to work.
How long should I participate in the mentoring program?
This is a personally customized mentorship program devised in accordance with the progress capability and personal knowledge of each trader, whether they have previous experience in the field or not. You should participate in the program for as long as you feel that you are advancing at a satisfying pace that is worth the time and money you spent. This may differ between different individuals.
What are the requirements to sign up for your Mentorship Program?
That YOU have sufficient time to commit to learning to trade.
Why Do So Many Traders Use Professional Coaching/Mentoring?
The quickest way to ANY success, and not just the Forex market success, is to see what other successful people have already done and are having results with & then learning how to duplicate their methods.
What makes the Boss Traders program better than other trading education sites?
Most trading educations sites take advantage of the fact that most people don’t know anything about trading and try to make it look like adding indicators to your charts are what will make you successful. Indicators can be useful supplemental tools, but most of them lag what is really happening by definition. All of our traders have had incredible success in the Capital Markets and are eager to share their insights and expertise with other emerging traders. We know what really makes the market move and how to analyze it and trade appropriately.
HIGH RISK WARNING: Foreign Exchange, Futures, Options and Stock trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with the different markets, and seek advice from an independent financial or tax adviser if you have any questions.
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