Consistent basics, practical advice and proven strategies
The idea of this website is to offer all the aforementioned in a compact and easily understandable form. The most important of those might be the trader’s own personal experiences and advice on how to proceed and what to avoid. If one realizes to avoid the beginners’ mistakes and make use of all tips, it already is a great advantage, save plenty of time and capital. The second important concept of the website is the Marketview section with links to free news & analytics pages, hand-picked from hunders of similar alternatives. I personally use the MarketView section in my own trading. Many important things being collected in one place make trader’s life and decision making much easier.
I started Forex career with news spike trading in 2009. After that I gradually familiarized myself with technical analysis and used it alongside news trading. In hindsight, I could say that it would have been smarter to begin with just technical analysis trading. As a beginner, I could not find a simple website guide, with all the needed aspects altogether. Not in own language (Finnish), nor even in English. I ended up picking bits and pieces of knowledge and of people experiences from various websites and forums – Google was the main tool and a lot of time was consumed. Some of the most crucial things and “golden” tips were (luckily) acquired by total accident.
For a while, the idea was to go through hundreds of gathered links and files, picking out the most essential ones. In the process, basics of my own trading would get thoroughly studied and reviewed. As a ready summary, it would be easy to recall later on and, of course, easier to advise others. Many have been asking about my trading and there seem to be a lot of interest and prejudice towards Forex trading; at least on Finnish forums. The idea of this website was born with the aforementioned data housekeeping in autumn of 2011 and the implementation begun during the usual low liquidity period of Christmas Holidays that year.
A brief search brought couple of Forex oriented websites in Finnish. English-search brought a lot of results with basically a common idea. The content quality and complicated structure were confusing. It did not feel like there was actually a proper trading experience behind all the text. In order to get to few copy/paste lines, one had to jump back and forth between site’s inner links. There were no actual trading experiences, no reasonable strategies and nothing that is important for a beginner. However, there were plenty of advertisement links to unreliable brokers, like “register with this 5-star broker, get huge bonuses and start earning money today!”. When the possibility to try and earn easy money with “5-star” broker is presented to a beginner, it gets very tempting to skip the long studying/training process. During that exciting try-out experience many things tend to go wrong and losing the initial investment is almost 100% certain. One important example is, for instance, the fact that many fraudulent brokers change trading conditions when switching from demo to live (real money) account. Strategy, which seemed to work on demo and which motivated the trader to trade real money, suddenly starts losing on a live account. The investment is usually lost before the excited beginner properly acknowledges the issue.
The aforementioned way to introduce people to Forex trading is, in my opinion, not the best one. This brought me an idea of a totally different, reader-oriented, website. The project became somewhat of an intensive course on Forex trading, giving beginner a basic knowledge foundation and a wide informational network. These create a proper base for improvement and success at Forex market.
From the structure of website’s first sections it is evident, that the primary target audience is the beginners. Things are presented (hopefully) in a most reader-friendly, informal writing style, with notes and examples. I personally feel, that this style, which differs from many other websites’, helps to comprehend things better and faster. At this point it is worth mentioning, that beginner should go through the website in a presented order of sections in KnowledgeBase menu, one after another; definitely not by jumping straight to “Strategies” or “NewsTrading”. Doing things properly, with patience, will steer trader clear of confusion and will help to acquire professional trading approach in a much more (financially and emotionally) painless way.
After Basics-section there will deliberately occur more specific Forex terms, without guides and explanations. It is assumed, that the Basics-section has been studied through. For readers whose native language is not English, it is worth mentioning, that it makes no sense trying to pursue a Forex career in any other language than English. Beginner would have to proceed reading market news and analysis on respected English-language websites and try to utilize the quality content of well-known forums, which also happen to be in English. Traders, who have already mastered the basics of Forex, will benefit from this website’s links and trading tools, and will possibly find a way to refine own trading strategy. Experienced and pro traders should definitely check out the KnowledgeBase section. In there, one could find books and notes on the most essential aspects of trading. Those are specifically picked from hundreds of alternatives, based on my own experience. KnowledgeBase section could very well give new ideas and overall improve the profitability. All the aforementioned sections are updated every time when new useful information sources and trading tools are found. I myself strive to continuously improve all aspects of my trading; website readers will benefit from this also in the future.
When studying the basics of Forex trading, choosing a (reliable) broker becomes topical. This important aspect is thoroughly discussed in its own section, with personal experiences and warning examples. It also has a guide for trading software, practical information about financial operations (deposits & withdrawals) and taxation of Forex trading. If reader, based also on own evaluation, decides to choose the broker I use and suggest, one should check the Extra-section and join that broker via our website. By doing so, trader, without losing anything, gets extra content (i.e. modified tools, ready mt4 templates, programs, pdf summaries) and also expresses gratitude for this website contents and the work that was/is being done for it. The broker, in turn, as a “thank you” for a new customer, pays the website (from their own money) a fraction (few cents in most cases) based on joined customer’s trade volume. The idea is to cover website maintenance and development with these broker’s bonuses, while keeping own trading funds separately.
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