After extensive research I have basically come to the conclusion that there are (at least) 9 Biggest Lies

In Forex and it doesn't matter if you're a new or experienced Forex Trader you have most likely been
a victim to at least one of them.
This report is not about only acknowledging the The 9 Biggest Lies in Forex, but rather proving you
with proven remedies to overcome those Lies and/or keep you from being a victim of them.

Lie #1: Trading is EASY and you can double your money in a very short period of time (usually they
say 30 days or less).
Fact #1: No professional Trader worth his/her salt will ever tell you this with any certainty. Trading is
NOT easy and it does require a GREAT deal of skill, knowledge and training. As a Retail Forex Trader
you are (to put it mildly) shark bait in shark invested waters. Many novice Forex Traders get caught up
in this lie and sooner or later are the victims of blown-up or end up blowing up their Forex trading
account(s). The fact of the matter is that most Professional Traders have spent a great deal of time and
money learning how to trade Forex successfully. They have relied heavily on the expertise, experience,
and knowledge of someone who has been trading Forex successfully.
Lie #2: Using A Forex Signal Service is a waste of money.

Fact #2: This is probably in addition to Fact #1 but the fact still remains that by using a Forex Signal
Service Provider you're hedging the success of your Forex trades. What I mean by this is, if you're
using a reliable Forex Signal Service Providers who is a live Forex Trader you are in fact benefiting
from their Forex experience and knowledge. You are partially looking over their shoulders and seeing
which type of trades they are making. If you're really sharp you can also learn from your Forex Signal
Service Provider. You get to see how they formulated their trades, their stop loss and entry points, as
well their take profit levels. You get to make money from trading without the knowledge of trading.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

www.FXALTareeq.com

9 Biggest Lies In Forex

Lie #3: Start trading live with a small account to learn how to trade.

Fact #3: While this may on the surface sound true it really is a small lie. Here's some solid advice
from a Professional trader: Before you start trading live you must know the system that you will be
trading. This means you should and must start your Forex trading journey using a Back-testing your
trading system even before you start using a Forex Demo account. You can use a Forex Trading
Simulator like ForexTester. You wanna do the following:
Start with ForexTester and add $10K to the account and back-test your strategy. Only back-test
one strategy at a time. You want to triple that account before moving to the next phase.
Now take the same strategy that you just back-tested in ForexTester and open up a Forex
DEMO account with $10K. Triple that account before moving to the next level.
Now is the time to go live with a SMALL funded Forex Account. Small is a relative word so
you'll have to decide what a small account is to you. It could be $100, $500 or even $3,000.
Again you decide what amount you can afford to trade and lose. Once that account has been
funded then you again must triple that account before going to the next level.
By now you've thoroughly tested this strategy and you have went from back-testing in
ForexTester (or any simulator of your choice) and tripled that. You've back-tested and tripled
your strategy in a Forex Demo account and then went to a SMALL funded Forex Account
and tripled that as well. It's time to go live with any amount that you choose and trade that
strategy live. You know this strategy like the back of your hand. You know your win rate/loss
ratios. Your expectancy rations and more. You will repeat this process for every NEW trade
strategy. In fact, you don't trade live with any trade strategy UNLESS you have completed this
process.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

www.FXALTareeq.com

9 Biggest Lies In Forex

Lie #4: You can make big gains and have small draw-down.

Fact#4: I have seen systems that say they make 100% gains and have less than 1% draw-down well,
that's not reality and you never get a real track record, to support such a ridiculous growth rate to drawdown that's been verified and audited. If you are seeking big gains, big draw-downs will occur and
even the best traders who double their money annually, will have big draw-down 20 - 40% at some
point, they often do make money long term but draw-downs are part of making gains.
I run a successful Forex Signal Service and have all of my trades audited and verified. I do have
massive gains (as of this posting up 73%+). The draw-downs can be high on for these type of trades
because Forex Traders are looking to make big gains but at the same time must be susceptible to big
draw-downs as well. Here's one portfolio example.
Lie #5: Making Regular Income and Profit:
Fact #5: This is misconception at the least. Think about this for a moment how can you make regular
income from something that changes as frequently as the Forex Market? No matter how great the
system is the Forex market simply changes all of the time. How often have you been in a well trending
trade only to see something strange occur and a nice profit turns to a break even or worse a loss? So the
next time you see or hear of someone saying ?make x% profit every month? Run!
Forex is an odds based market! In an odds based market, you can only make money when the odds are
in your favor and you can make money long term but that's not the same as a regular monthly income.
This is why it is imperative that you follow Fact # 3 so that you put the odds in your favor.
Lie #6: You can Predict Forex Price Movement in Advance.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

www.FXALTareeq.com

9 Biggest Lies In Forex

Fact #6: Many say that you can predict the Forex movement in advance using Indicators or
Oscillators. The fact of the matter is ALL Indicators lag and give lagging data. This means they can
and will get you either into trade late or out of trades late. The fact that Indicators lag is an
UNDISPUTED fact. This is a clear reason why you should Learn to trade Forex Naked using Price
Action Methodology.
A favorite of the far out crowd, who believe so called scientific theories such as Gann, Elliott and
Fibonacci. Let's make clear what a scientific theory is:
It's an objective theory that works ALL the time, that's the definition. Do any of the above
theories work all the time? Of course not, no system does and if it doesn't, then it's not
mathematical or scientific period. If prices did move to a scientific theory, we would all know
the price in advance and there would be no market. The idea that markets move to science is
laughable and there is no evidence to support it.
I would venture to say that the reason Fibonacci works today is because many Forex Traders use them
to get in and out of trades. So if a good majority of traders use Fibonacci then you will see them setting
buy/sell orders and take profit orders at those levels.
Lie #7: I can learn to trade Forex successfully on my own.

Fact #7: One of my favorite sayings regarding Forex is: ALL Professional Athletes have Coaches.
Why should trading Forex be any different? Think about it. 95% of Retail Traders lose trading Forex
daily. You are shark bait in shark invested waters. The only way to survive is that you lean on the
experience and expertise of someone who is trading Forex Successfully. Yes, you can read books, or
look at trading videos, but how can they ever be compared to having a Coach, a Mentor, a Teacher who
can help you learn the pitfalls of trading Forex?
Ask any Professional Forex Traders who trades Forex full-time and for a living you will find that
EVERY single one of them had someone who personally taught them how to trade. If you think you
can trade Forex at a full-time or professional level without some form of Mentorship you are sadly
mistaken. The mere fact of having a Forex Mentor will cut your learning curve in half or more.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

www.FXALTareeq.com

9 Biggest Lies In Forex

Lie #8: You can trade Forex with just Robots.

Fact #8: Nothing can be further from the truth. Here's the deal. Trading is emotional. People enter
and exit out of trades (for the most part based on their emotions). If this is the case then why should
you let an emotionless Robot determine when you should get in or out of your trades? If you have
traded with demo account, you will agree that there is a strong difference between trading in demo
mode and live mode. Why because in demo (for the most part) you know you have nothing to lose. So
you'll risk more to gain more (of nothing). Whereas in live trading you know you have real money at
risk on the table. In live trading (if you're not prepared) you have a lot to lose if you make the wrong
decision(s). You'll get out of or into a trade based on your emotions. This is another reason why
sticking to your rules and your Forex Trading Plan is vital.
Lie #9: You can't grow your small Forex account trading Daily and Weekly trades.
Fact #9: Another lie which prevents traders from actually blowing up their Forex accounts. Here's the
deal. If you want to protect your Forex account (whether you're new or an experienced Forex Trader)
learning to trade on the Daily and Weekly time-frame will offer you several advantages:
1. You will be trading on time-frame which allows you to have more free time in terms of
watching your trades and watching the charts. Daily trades only require you to manage them
once a day and Weekly charts once a week.
2. You will be trading on higher time-frames that you will be able to control when to enter and exit
from these higher time-frame charts more easily.
3. Since Daily and Weekly charts move much slower than H4 or lower scalping time-frames you
will be able to make better decisions on how to mange your Daily and Weekly trades.
4. The Daily and Weekly time-frame trades are perfect for those who have 9-5 jobs and aren't able
to monitor their trades every 4 hours.
5. One of my recommendation of allow for increase profits is to trade (for new accounts) no more
than 2 trades risking 5% per trade. You may not have more than two 5% risk trades open at any
given time. Once you have made decent profit (and you'll have to be the judge what is decent)
then move back to risking no more than 2% per trade and however how many trades your rules
allow you to have opened at one given time.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

www.FXALTareeq.com

9 Biggest Lies In Forex

6. If you're new to trading I wouldn't recommend being on any time-frame lower than H4.
Anything lower than H4 charts price actions can move very quickly. Decision making and
speedy thought process is required.
7. Slow and steady wins this race. Remember 1% profit compounded each week will turn $10,000
into $1million in 4 years. There really isn't need to risk your money on risky time-frames. Let
the Daily and Weekly charts be your friend.
Make no mistake about this, 95% of traders lose money and the ones that do all believe one or all of the
above lies. The successful Forex Trader knows you can make money long term however earnings are
erratic in the short term, this is because Forex is a game of odds not certainties. Lastly, to win make
profits, you need to take calculated risk. With proper risk management comes rewards.
If you want to get involved in Forex trading and win you can, by getting a good solid Forex education
and learning skills.
Most traders don't do this they fall for the get rich quick message, with no risk and no effort but that's
not Forex trading and they soon lose.
You can win and enjoy huge rewards for your effort, if you understand the challenge of Forex trading
and what the reality really is. If you understand this, you're on your way to long term currency trading
success.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can
work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment
objective, level of experience and risk appetite. The possibility exist that you could sustain a loss of some or all of your initial investment
and therefore you should not invest money that you cannot afford to lose. You should be aware of all of the risk associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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