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Category Archives for Friday Q&A

What Makes Trading Forex So Difficult?

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Happy Friday! This week’s question comes from Sara, who asks: What is it that makes trading Forex so difficult? From an outside perspective, trading should be easy. After all, your only options are buy, sell, or do nothing. That means you have a 50% chance of being right every time you act. At least that’s […]

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How Long Does It Take to Become a Profitable Forex Trader?

Man standing on top of mountain

I hope you’re enjoying your weekend. This week’s question comes from Kishon, who asks: How long does it take to become a profitable Forex trader? One year? Three years? Maybe five years or more? It’s a question everyone wants answered. I get that. Who wants to devote time and effort to something without having some […]

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How to Recover From a Blown Forex Account

Empty piggy bank

I hope you’re enjoying your weekend. This week’s question comes from Janene, who asks: Hi Justin, what advice would you give to someone who just blew their Forex account? No trader wants to think about blowing an account. That feeling of going from $5,000 to $1,000 or less is never pleasant. If it’s happened to […]

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Why Do Most Forex Traders Fail?

Man failing at trading Forex

Happy Friday! This week’s question comes from Manny, who asks: Hi Justin, why do you think so many Forex traders fail to make money consistently? Trading Forex successfully is one of the most difficult endeavors you will ever pursue. If you’ve been trading for a minimum of a few months, you’ll know I’m not exaggerating. […]

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How to Enter a Market Before the Breakout

Businessman using crystal ball

Happy Friday! This week’s question comes from Sherry, who asks: How can I overcome the fear of missing out just before a market breaks out? I’ve gotten better at identifying patterns and momentum, but often miss moves because the market doesn’t retest the broken level. Trading breakouts is one of the most enjoyable and profitable […]

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How Did I Know the GBPJPY Was Going to Drop?

Flags of United Kingdom and Japan

Happy Friday! This week’s question comes from Asha, who asks: How did you know the GBPJPY was about to drop hundreds of pips? I thought the pair was in an uptrend. Thanks! The truth is, I might be getting ahead of myself with this post. As I’m typing the GBPJPY is still in the process […]

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How Do You Define a Forex Breakout?

Hand breaking through wall

Happy Friday! This week’s question comes from Margaret, who asks: How do you define a breakout in the Forex market? I would bet that most Forex traders can identify a breakout. As the name implies, it’s when a market breaks out from a key support, resistance level or technical pattern. Sounds simple enough, right? But […]

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Why Did Last Week’s USDJPY Bearish Pin Bar Fail?

Man dealing with failed trade

Happy Friday! This week’s question comes from several traders, who asked: Why did last week’s USDJPY bearish pin bar fail? Losing is never fun, especially when it comes to money. However, it also happens to be the best teacher. Although we always strive to make a profit, chances are you will learn far more from […]

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How to Avoid Impulsive Trades

Impulsive trading concept

Happy Friday! This week’s question comes from Tavi, who asks: I have a habit of making impulsive trades that ruin my chance of turning a profit. How can I fix this? Impulsive trading is something that all Forex traders struggle with, some more than others. Even I make the occasional impulsive trade from time to […]

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How to Cut Losing Trades Short

Man using hand to stop trading losses

I usually kick off the Q&A posts with a question from someone. However, this week I’m going to take a different approach. Last week I covered how to hold winning trades longer, so I thought it was only fitting to write about how to cut losing trades short this week. After all, letting winning trades […]

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