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Hm, technically we know when we lose but in bigger pictures, yes we don't know when but we still can avoid that thing or minimize the chance we lose our money. Risk Management is the answer for that but that is the other discussion. Forex as art is less meaningful rather than forex as the way to make a living, because of the economy first and then arts.

Yes everyone can experience loss even for veteran traders such as George Soros also suffer losses a few times ago. This makes a sense since no one special and as a fine trader we should know it and doesn't make it as our own barrier to advance to the next level. Just learn from it and trying to avoid it next time.

True but in this case you need to take the risk too, taking few risk is needed in order to gain bigger profit and this is what i called as profit optimization, don't afraid to lose but still trying to avoid it. Maybe it sounds conflicted but in practice is not, what i embrace is taking the profit intelligently and with preparation.

Oil prices slumped at the end of trading on Wednesday, although previously had crept up following reports that oil inventories in the United States decreased. The reason, at the same time rumors that US oil production again set a record high. When the news was written Thursday morning, the price of Brent oil that became the international benchmark was at $ 50.47, or just rise around 20 cents, after last night dropping more than 40 cents. The West Texas Intermediate (WTI) remained at $ 46.89, after plummeting around 77 cents to $ 46.78 a barrel overnight. Oil inventories data released by the Energy Information Administration (EIA) showed a drop in US commercial crude oil inventories at 466.5 million barrels or has been reduced by 13% from the high level achieved in March. Some market participants say that rising US oil output is eroding the effects of OPEC countries' efforts with a handful of other oil producers to limit their production.

Highest doesn't mean you always get the advantages from that, remember who you are? We are small retail traders, the big share for the big guys and if you want to get more profit invest more and use bigger lot size. Forex is flexible and open, with a good strategy and enough patience you can be a big guy on the block too.

If you include practice then that could be considered as self-learning. But if I want to live in the ideal world, it would be good to have an experienced mentor. They could share more strategies, and direct us better. It is not that necessary but if you able to afford mentors, choose the right mentor and then reap the profit.

And as I said before that depends on your own view. Just because you can access the market directly in less than 30 minutes doesn't mean you are boosting your own productivity. Everything has its own parameter and in this case, i don't see any thing which boosts your productivity, Mobile phone trading just make you able to trade anywhere and everytime you want.

Commission and Spread are for the honest broker, typical ECN brokers or DMA brokers or STP brokers. As for STP sometimes the order redirect to DD brokers so that is a bit gray area. Nondealing desk brokers make money from typical commission such as spread or per order commission so no matter if you lose or gain profit, they still get their shares.

Nah, that is why I think it is better for us to take a time and think first. Do forex is worth for the thing which I want to sacrifice? including your time and all other things? Just like many people who involved in high-risk businesses including foreign exchange said: "don't take the risk if you cannot afford to do so". By applying that reducing the risk is not a mere theme.

Absolutely agree with you there. Regulation is our outer wall against the scammer and all of its trick. Could be our friend in the right time. We can file a complaint against a broker that practicing stop loss hunt. We can provide them with a concrete evidence and if the regulator is just and trader's friendly will fine the broker, it sure will affect the reputation of the broker.

I also have an optimistic view about this but at the same time seems pessimistic. Well, it is sort of dilemma. I mean if AI was common, we will compete with it and of course, i think human will have a hard time with AI, also this kind of trading limited by some government because in past caused some crash on the market. FX is too big for AI for now but AI still have its own potential

Sure it will affect one country but if the country which affected by that is the US, say there was US civil war. Economic collapse would come, well not that really a collapse but near of that and world economy including forex will suffer, makes it as a business which is not suitable for living, but the current Forex is different it is pretty much stable and even have its own growth thanks to participation of all people around the world including developing countries.

Popular because forex is a lucrative field because anyone can enter and out without any terms or any kind of contract. You like a freelancer in forex and its openness and flexibility which makes it more different than some jobs which I know. Btw, it has the largest market in terms of turnover. It is like trillions money circulated every business days, right?

So by going with that definition, i can say we can do money laundering as much as i want as long as the government doesn't know? I do agree that forex is wide open to all kind of traders and its flexibility which allows something like this but it is bad if money laundering becomes common here, what I am afraid that govt is trying to be more strict to this business makes trading harder and make it less open than it is today.

The key is to control yourself when trade, I don't know how to achieve this but with proper training, you will be able to do it someday. It may take 6 months, 10 months, or even 2 years. No matter how risky forex but with self-control and good risk management you can regulate the risk and come out as the winner.

It is good as testing to see if the broker is not bucket shop or not. Well, in theory, no deposit bonus still able to help traders achieve success on foreign exchange business. I agree with you that demo account is a good thing but if that broker is proven as a good and stable broker, where we don't have to question that broker anymore.

Usually, an honest broker has an honest term. The bonus you will get here basically an additional capital for you and nothing more. I do wonder what is that mean by too low where because the rate for a capital bonus is pretty nice bonus for most traders. If you want a faster start then try to invest the bigger amount.

That kind of bad broker aka bucket-shop broker is the one we should avoid at all cost, to find out if your broker is like that there is no other way but to use real account to trade. Scalping is fast execution, it gives more load to the server with fast execution and maybe because scalpers get bigger profit in relatively shorter period which makes it unprofitable for bucket-shop broker.

It is all about the matter here is how you control yourselves when trade, usually something like margin call in multiple brokers because a trader cannot make profitable trading. By using carry trading I think that people can depend on their earning to the multiple brokers trading.

Sure, I don't see any viable reason why somebody wants to trade in forex for the sake of the hobby, the market itself is money or profit oriented which makes it a pure market speculation except when you are a trader which hired by central banks which doesn't have any interest in making profit, just a stable currency movement.

Oil prices closed slightly better on Tuesday in the United States after falling due to a strengthening US dollar and signs of weakening demand in China. Quoted by Reuters, fluctuating US dollar exchange rate against several currencies pressing oil prices. Therefore, the strength of the dollar makes dollar-denominated oil prices more expensive than other currencies. Meanwhile, some investors had turned their attention to gold and oil yesterday as tension between the US and North Korea increased. Amid the various sentiments, it seems that Brent prices remained a thin gain about $ 0.07 per barrel to the next level at around $ 50.8 per barrel. Meanwhile, US crude oil prices fell $ 0.04 per barrel towards $ 47.55 per barrel. Meanwhile, market participants are awaiting a report on oil inventories from the American Petroleum Institute (API) at 4:30 pm and the official Energy Information Administration (EIA) data Wednesday.

Gold futures on the COMEX division of the New York Mercantile Exchange resumed declines on Tuesday, following stronger-than-expected US retail sales and manufacturing figures. US national retail sales in July increased by 0.6 percent, better than forecast a 0.4 percent surge. Analysts said the increase is the highest this year, possibly driven by strong demand for new vehicles and special "Prime Day" deals in the Amazon. The most-active gold contract for December delivery fell 10.7 dollars or 0.83 percent to settle at 1,279.70 dollars an ounce. According to another report released on Tuesday, the New York Federal Reserve's Empire State Manufacturing Index jumped 15 points to 25.2, reaching its highest level in almost three years. Stronger economic data weighed on "safe-haven" gold, which was one of the heaviest losses in five weeks. Gold is under increasing pressure from further easing of geopolitical tensions between Washington and Pyongyang, as the US dollar continues to strengthen.

The pound rose to a daily high against the US dollar in Wednesday's trading session (16 / August) this afternoon, following the UK Employment report. The country's unemployment rate sagged to its lowest level since 1975, while its wage growth has increased. GBP/USD touched a high level at 1.2904 sometime after the report was released. However, GBP / USD has dropped and traded at 1.2873. The ONS reported the UK Unemployment rate for June dropped to 4.4 percent, lower than the 4.5 percent forecast. Average Weekly Income rose 2.1 percent (YoY) in the June quarter, better than the forecast of a 1.8 percent increase. Without taking into account bonuses, UK people's income also rose 2.1 percent, slightly better than the 2.0 percent additional forecast. On the other hand, EUR / GBP declined about 0.16 percent to 0.9102. The euro weakened today, following a report that Mario Draghi of the ECB will not deliver a monetary policy change message at the Jackson Hole conference in the US.

The dollar hoarded considerable gains until Wednesday's trading session (16 / August) this morning. Last night, US Retail Sales Data for July, reportedly jumped beyond estimates. Thus, speculation regarding FED rate hike continued to rise again to the surface. In addition, the minutes of the Fed meeting that was held in July will be published on tonight. It will be a well-anticipated event for traders, to get further clues about the next rate hike, as well as on the reduction of the large-scale balance sheet that is expected to begin next month. There is a chance for the Dollar to get more gains if market players begin to take into account the high likelihood of Fed rate hikes. The problem is, it has not happened because Fed Fund Futures actually shows a slightly smaller percentage of this year's rate hike. In addition to the slick US economic data, the easing of geopolitical turmoil US and North Korea also contributed to the strengthening Dollar. Kim Jong Ung decided to cancel the attack on Guam and chose to oversee Washington's actions first.

Rally of coal prices ended at the close of trading on Tuesday, the first weakness in five consecutive trading days. On Tuesday's trading, coal prices for September contracts of 2017, the most active contract on the Rotterdam commodities exchange, closed down 1.16% or 1 point at $ 84.95 / metric ton. The September 2017 contract's coal price finally broke the rally posted for four consecutive trading days before, as oil prices extended their losses. WTI is unable to hold gains above $ 50 a barrel this month on investor concerns about an increase in supply that exceeds production cuts by the Organization of Petroleum Exporting Countries (OPEC) and a number of non-OPEC countries. As is known, the price of coal can follow the movement of oil given its impact on the cost of production and transportation as well as the influence on overall sentiment in the energy market.