Category Archives for Friday Q&A

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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How to Hold Winning Trades Longer

Holding winning Forex trades longer

Happy Friday! This week’s question comes from Denise, who asks: One thing I’ve always struggled with is being able to hold my winning trades longer. What can I do to increase my hold time when a trade is working in my favor? Every trader dreams of catching “the big one”. That one trade that runs […]

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Should You Use a Martingale Forex Strategy?

Man gambling with chips using Martingale

Happy Friday! This week’s question comes from Josiah, who asks: I’m intrigued by the idea of using a Martingale Forex strategy. What is your opinion of them? Wouldn’t it be nice if a $200 trading robot could make you millions? And best of all, you wouldn’t have to lift a finger once it was properly […]

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How Much Money Can You Make Trading Forex?

Currencies of the world

Happy Friday! This week’s question comes from Martin, who asks: How much money can I make per month trading Forex? Admit it, this is one of the first questions you asked when you entered the Forex market. There’s no shame in it. I certainly wanted to know how much I could make when I started […]

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