In the vast world of finance, the foreign exchange market stands as a bustling epicenter, where currencies from around the globe change hands in a continuous dance of supply and demand. Often referred to as Forex or FX, this market is vital for international trade and investment, enabling businesses, governments, and individuals to exchange one currency for another. But how exactly does this intricate market work?

Understanding the Basics

At its core, the foreign exchange market is where currencies are traded. Just as goods and services have prices in local markets, currencies have values relative to each other. These values are in constant flux, influenced by a myriad of factors such as economic indicators, geopolitical events, interest rates, and market speculation.

Participants in the Market

The Forex market is unique due to its diverse range of participants. Let's meet the main players:

1. Banks and Financial Institutions: These are the largest participants, facilitating the m...

In the ever-evolving landscape of finance, Forex trading has emerged as a promising avenue for individuals seeking alternative career paths. The allure of flexible hours, potential for substantial profits, and the ability to trade from anywhere with an internet connection make Forex trading an enticing option for many. However, amidst the promises of wealth and freedom, the question arises: Can Forex trading truly be a sustainable career choice?

Forex, short for foreign exchange, involves the buying and selling of currencies on the global market. Traders aim to profit from fluctuations in exchange rates, leveraging their understanding of economic indicators, geopolitical events, and technical analysis. While the potential for high returns exists, so too do the risks associated with trading in a highly volatile market.

Before embarking on a career in Forex trading, it's essential to consider several factors:

1. Education and Skill Development: Successful Forex traders possess a deep ...

Recovering from a Bad Loss

Forex/Day trading is another form of a business that anyone can pursue, although it is a very different business model than what most people are use to. Just like a business, with trading you have to have a goal in mind to what you want to reach financially. With that goal in mind, you have to come up with a plan. With that being said, you also have to keep in mind that there will be losses. Recovering from a bad loss is possible, especially with the next few tips that we'll be sharing with you.

1. Take a breather. Avoid jumping into a new position to "make up for it".
Jumping into another trade or position after a bad loss is something you should never do. This could potentially cause more losses and could blow your entire trade account if you keep jumping just to make up the loss. This is called trading based on emotions which is how 80% + new traders lose money. Take a breather, stop trading for a bit or even the day. Take the time to clear your mind and ...

Misconceptions with Forex Trading

There are a lot of misconceptions when it comes to forex trading. We’re going to dive a little deeper and go through some misconceptions and debunk them. Here are the top 6 misconceptions with forex.

1. THERE ARE MINIMAL LOSSES

When it comes to Forex trading, you need to be prepared that there could potentially be some bad weeks depending on how the market is moving, and any other factors that come into play. However, you need to look at the overall picture not just daily or weekly.

2. YOU CAN'T EARN MONEY WHILE TRADING

You can certainly earn money while trading. Keep in mind it is a long term investment. You also need to be dedicated and consistent to earn and formulate a profitable trade strategy.

3. TRADING IS GAMBLING

A lot of people do get this confused because you're putting your money into something without knowing the outcome, which is false. Trading you're taking calculated risks, knowing that there could possibly be a loss. You're also...

Why 90% Of Day Traders FAIL | The Best Forex Trade Strategy And Proper Lot Sizes

There are many strategies when it comes to day trading. The best plan of action for forex trading is a combination strategy. You shouldn't be relying on just indicators alone, but following 3 market phrases as your base, and using indicators to help confirm your entries. 

Proper Lot Sizes can be controversial, depending what trader you ask because if you open LOTS of trades per week, you want smaller lots. 1-2 trades a week means you can use slightly larger lot sizes with the same account size. No matter your strategy you shouldn't go very far beyond the spectrum that is showed in this video.

Check out more videos here:

https://www.youtube.com/channel/UCvcTjXZG23ma1ydrByh0zjw

WRITTEN BY: Kevin Edgar

Forex PIPs and Common Currency Pairs

Another day, another dollar. Let’s learn a bit more about PIPs and pairs. The most common currency trading are as follows: USD (U.S. dollar), JPY (Japanese Yen), GPB (Great British Pound), CAD (Canadian dollar), and EUR (Euro). Before we get ahead of ourselves, let’s talk about PIPs and what it is.

A PIP is an abbreviation for price interest point. PIP is a measurement tool that is used within currency pairs which correlates to the smallest price movement made by any change of the currency exchange rate. Most currency pairs, except JPY, are quoted to the fourth decimal position or one-hundredth of one percent. This means that smallest change in the currency pair would be the last figure. JPY denominated currency pairs are quoted to the second decimal position. A one PIP difference can equate to a consequential profit or loss, even though it is a small measurement unit. As an example, if we entered a trade for EUR/USD and we bought Euro for 1.17...

Foundational Wealth vs Generational Wealth Building

Building a foundation is the most important thing when it comes to longterm sustainability and wealth generation. What about 3 years from now? What about 5 years from now? What about 10+ years from now?

This is where generational wealth comes into play. Without looking 5+ years into the future, how will you forecast having any wealth beyond that point?

This vlog above explains it all to you. Make sure not to skip through it :)

Want to learn more from Kevin about wealth building with eCommerce online business and day trading? 

Check out his YouTube channel here: 

https://www.youtube.com/channel/UCvcTjXZG23ma1ydrByh0zjw

WRITTEN BY: Kevin Edgar

Tips for Beginning with Forex

As some of you may heard, big things are coming to our platform - or already here (May 1st, 2020!)

SupremeCommerce Training has entered the world of Forex to bring you another pillar for your foundational wealth building.

If you are looking into earning extra income, we highly recommend for you to start building your foundation for wealth with an eCommerce business, such as Amazon or Shopify. With an eCommerce business you can start earning quickly in short-term, whereas, with Forex, though you can earn short-term, it is more of a long-term earning process.

However, if you are 100% sure you want to start with Forex, then here are some tips for you:

• Do not put your entire savings into it; start off with $300+ - the more the better, as long as it is funds you can afford to risk.
• If you are a beginner or just starting off, start with a broker such as my favorite:  LQDFX or Hugosway, and a demo account on MT4 for about a month or so. This w
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