As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders. With forex brokers reducing leverage and the industry getting more regulated, trading your own funds for a living is getting increasingly harder to do. This is where prop firms can help traders get to the next level!

Surge Trader

Is this the prop firm for you? We have extensively tested and researched the company to find out everything we can! Let’s dive into it…

Who Are Surge Trader?

Surge Trader has been around in the industry for the last few years, based out of Naples, Florida. On the website you can have a read of the origin story of how the company came to be and it’s fairly similar to how the majority of the industry leading prop firms

It all came about off the back of a conversation between a VC, a forex broker and a successful institutional trader, looking to change the way forex traders received funding and scaled their asset under management.

The company is part of a larger holding group – Valo Holdings

Surge trader offer a one step verification challenge, followed by a funded account ranging from $25,000 to $1,000,000!

This is a no brainer, right?

Well… Let’s find out more.

Getting Funding From Surge Trader

Now that we know who the company are, it’s worth taking a look at their different funding options for forex traders.

Surge Trader have a much more simple business model than the majority of these newer prop firms, offering 6 different account types with different rules and payout splits on each. I personally find these companies fairly confusing and love the more simple approach!

The funded accounts range from $25,000 to $1,000,000 and the cost to take the challenge will change depending on the value.

All of these accounts have the exact same rules and thresholds for passing and failing.

Let’s take the Intermediate account for example…

• You pay $400 for the challenge. This is a one time fee.
• You are given the details for a demo account. Now your trading begins.
• Trade your strategies like you would do on a real live account. You must obtain 10% profit, without breaching a 4% daily drawdown limit and a 5% total drawdown limit. You have an unlimited amount of time to complete this.
• If you fail, you will need to repurchase a challenge when you’re ready to try again.
• Everything going well, you’ll be awarded a live trading account.

Once you’re on the live trading account of $50,000 – you’ll have the same daily and maximum drawdown limits. You will be awarded with another 100% of capital, every time you reach 10% in profit. You’ll also have a 75% profit split.

This means that for every 10% you make on the $50,000 account, you’ll be given $3750!

This compares very well to other prop firms and is actually much more simple than what you’ll see in the industry!

What Makes Surge Trader Different From All Prop Firms?

With how competitive the prop firm funding industry is in 2022, it’s important to look at the key differentiators between these companies and understand where the opportunity lies.

The benefit of these top prop firms competing is that they’re constantly bettering themselves to increase their revenue. The good news for us traders is they offer us more discounts, incentives and funding!

So, what sets Surge trader apart?

1. Venture Capital Backing

As mentioned near the start of this article, Surge Trader are backed by Valo holdings group. I really love the fact the company is within a real organisation. There are countless ‘prop firms’ popping up with no real backing, no money and no organisation behind them.

Knowing that there is an actual corporation behind these funded accounts fills me with confidence and it needs to be happening much more within the industry.

2. $1,000,000 Funded Account

If you take a look at the different account types the company offers, you’ll notice that they offer a $1M account!

There are no other forex funded accounts that start at $1,000,000. This means that you could go from $0 under management to 7 figures, within a few weeks – if you’re a profitable trader.

This is a crazy thought and can be hard to wrap your hard around but either way, it’s incredibly impressive and certainly sets these guys apart from the 30+ competitors in the market.

3. Live Funding

This USP is fairly interesting and something that not all prop firm traders are aware of. The majority of the best funded accounts are actually having you trade on a demo account – you never touch the live markets.

This doesn’t matter, at all, as you’re still getting paid! It all comes down to how their business model works, I guess.

However, Surge Trader offer REAL funding once you’ve passed the verification stage. This means you’ll be actually trading live funds from the VC firm and you can think of yourself as a real funded trader!

4. Working With A Regulated Broker

When you become a funded trader, you’ll be given a live account with Eightcap

This is an ASIC regulated broker, based out of Australia. The company has a great reputation and provides a massive range of trading instruments, along with ECN style trading conditions.

It’s great to see that they’re partnered with a regulated broker, rather than a shady offshore broker!

Is Getting Funding From Surge Trader Actually Realistic?

It really doesn’t matter if you’re being offered a $1M funded forex account or not, if the rules are so strict you’ll never have the funding! With that being said, are these rules acceptable?

Surge Trader has one of the most relaxed rulesets in the industry. You essentially need to just make 10% on your demo account, without breaching 4% daily drawdown and 5% maximum drawdown. This can be done as quickly or slowly as you desire.

If you can keep within these rules, you’ll get funded. It’s very straightforward!

I’d argue that if you aren’t able to pass this challenge, you would most likely not be ready for funding from any of the top prop firms as these are fairly generous rules, with the lack of time limit and simple ruleset.

Does Surge Trader Offer Scaling?

You’ll notice that right now in the industry, getting scaling and the option to hold more capital from your prop firm is a big deal. As most traders aren’t compounding their trading profits

This is where capital scaling comes into play.

Surge Trader offers traders the ability to scale capital at every 10% milestone. In short, if you earn 10% profit when funded and sticking to the rules, you’ll have your account doubled. This continues all of the way to $500,000.

If you compare this to compounding your own profits, this is obviously much faster and will result in a much larger profit in the same period of time.

Comparing this offering against some of the other leading firms like BluFx

Surge Trader Reviews – Are They A Scam?

My favourite way to gauge the success of a prop firm is to look at the experience other traders are having. Whilst I am having a great experience, there’s no guarantee that I am not being treated differently and the majority of traders have a bad experience…

On Trustpilot

This is great to see, especially for a fairly new company within the industry. There is a HUGE amount of positive reviews from traders that have both passed and failed the challenges.

Ger Celtic here has had a great experience and makes a few very interesting points. You won’t be breaching the drawdown limits until your trades are actually closed, which gives a huge range of flexibility for trades.

The only negative point that was raised in multiple reviews was the fact that weekend trading on crypto isn’t allowed, even though the market is open. This is a valid point and I’m interested to see how this changes over the coming months.

To summarise all of the reviews I managed to find, the company is thriving and all traders are happy! I’d definitely like to see a larger number of reviews and I’m sure, in time, this will come.

In Summary – Is Surge Trader A Good Prop Firm For Traders?

In conclusion, Surge Trader is a leading prop firm and one of the best funding options for forex traders looking to take on additional capital in 2022.

The trading conditions being offered are brilliant, the reviews are positive and I’m truly impressed with how the company is growing.

The huge amount of trading instruments and the addition of crypto trading is great to see!

I’ll be circling back to this review every few weeks and updating with my experience, as it changes throughout the coming months.

Are you trading with Surge Trader? Let me know in the comments down below!

By the time you with the inside information in this detailed guide you’ll know exactly why does MT4 say no connection, how to troubleshoot the issue in a hurry, and how to get yourself back up and online – and trading Forex – in record time!

Let’s get right into it…

Why Does MT4 Say No Connection?

Few things are as headache inducing as a going to jump on your Forex trading software to capitalize on a new opportunity, only to have your MetaTrader 4

There’s only one real big reason that this error is going to pop up, too:

Because your internet connection isn’t working the way you think it is. 

Your Internet Connection is Down or Unstable 

If your internet connection is down, unstable, or unreliable – or even if MT4 simply reads it as down, unstable, or unreliable – you are going to have a whole bunch of problems staying connected. 

Luckily, reading how MT4 is interpreting your internet connection is relatively pretty simple and straightforward. 

All you have to do is look in the lower right-hand corner and see how the connection signal is color-coded to know (with some certainty) exactly what’s going on. 

Red 

A red internet icon lets you know that your account – and your installation of MT4 – has been completely disconnected from the internet and cannot establish a new connection, either. 

Red/Green 

A red and green icon tells you that there is a direct connection to the server but it may be “misbehaving”. The internet connection isn’t as strong or as stable as it could or should be. 

Green/Blue 

Finally, a green and blue icon lets you know that your MT4 installation has connected directly to a data center. You shouldn’t ever see the “No Connection” error code when this indicator is present. 

How to Fix MT4 Saying No Connection 

Rescan Your Server 

The simplest way to reestablish a connection with MT4 is to rescan your server. 

All you really have to do is click on the “connection button in the bottom right-hand corner of your MT4 software. You’ll immediately be presented with a list of servers you have connected to as well as the option to rescan servers. 

Click rescan and you are off to the races! 

Restart MT4

Of course, you may have to completely restart your MT4 software to even get the option to rescan for servers (or do anything else). 

Simply close out MT4, give it 30 seconds or so, and then restart the software from scratch. 

That’ll iron out a whole host of bugs you might have otherwise been dealing with. 

Login to MT4 Again 

Sometimes, though, upon restarting MT4 you are also going to have two real login to your account. 

Make sure that all of your account credentials are good to go. Errors here could be preventing you from establishing a connection as well. 

Try Another Server 

Every now and again the server that you have connected to may not be viable. 

Check for new server, check server details from your broker, or otherwise troubleshoot the server issue and you should be able to establish a new connection straightaway. 

Check Anti-Virus Properties 

Lastly, you want to make sure that your antivirus software isn’t blocking your ability to connect to MT4 or to MT4 servers. 

If there is a conflict be sure whitelist MT4 and give it internet permissions. 

That’ll resolve the problem once and for all.

In Summary – Why Is MetaTrader 4 Showing A No Connection Error?

In conclusion, MT4 is showing a No Connection error because:

– Your internet connection is down or unstable

– You need to rescan your server

– You need to restart MT4

– You need to login to MT4 again

– The server you are trying to connect to is not viable

– Your antivirus software is blocking MT4 from connecting to the internet

If you follow these steps, you should be able to fix the No Connection error in MetaTrader 4 and get back to trading!

Thinking about becoming a Forex trader full-time, but not sure of whether or not it’s the right move to make – or if it’s even possible? 

You might be surprised to learn that there are lots of people that have given up their “day job” to jump headfirst into the Forex market – and many of them have not only replaced their former full-time income, but have multiplied it (sometimes dramatically). With that being said… Can Forex be a full time job? 

Forex trading can be a full time job and is a full time job for many traders around the world. The overwhelming majority of forex traders don’t trade as their full time income as they do not make enough money from trading to sustain this. It is, however, very possible to trade forex as a full time job if you are skilled enough.

Can Forex Be a Full Time Job?

Straight out of the gate, it’s important to understand that while Forex can be a full-time job for anybody that doesn’t necessarily mean that it can be a full-time job that is profitable. 

There are a lot of investors in the Forex world that spend morning tonight staring at charts, crunching different reports, paying attention to the movement of currency pairs across the market – and still end up losing mountains of money. 

It could be argued that while that approach definitely is a full-time job (and then some) that’s not what most people mean when they want to know can Forex be a full-time job. 

Before you take the plunge into this kind of investing – and especially before you think about giving up your day job and becoming a Forex trader full-time – you need to ask yourself these core questions:

What are Your Goals? 

What exactly are you hoping to get out of your full-time Forex investing? 

Are you looking to completely replace your full-time income and just spend a lot less time each week doing so? 

Are you more interested in multiplying your full-time income with the power and leverage Forex brings to the table but are willing to work 40 hours (or more) each week to make that happen? 

Do you fit somewhere in the middle? 

You absolutely must have your goals outlined with crystal clarity before you decide to go full-time as a Forex trader. 

Skip this step and you’ll fall flat on your face like so many others already have. 

How Much Capital Do You Have? 

Secondly, you need to think about how much capital you have access to and how much you are willing to leverage in the Forex markets. 

Do you have a decent sized nest egg built up that you can pour directly into the Forex markets, capitalizing on the extra leverage

Do you have a smaller sized nest egg that you’re ready to capitalize and are looking for smaller profits that you can roll into a larger bankroll before making bigger moves in Forex? 

Or are you just looking to put pockets of cash into the market every day, hoping to turn a profit, and then going from there? 

These are the kinds of things you need to know before you’re able to determine whether or not Forex can be a full-time job for you. 

To go into trading as a full time job, you would need around $100,000 in trading capital to be safe. This will allow for you to make a few percent per month and pay your bills.

I’d highly recommend looking at some of the top forex prop firms

Why Are You Getting into Forex? 

Finally, you need to think about why are you getting into Forex specifically. 

There’s a lot of research, a lot of studying, and a lot of paying attention that needs to happen if you are going to have success in Forex – both short and long-term. 

If you’re just looking to sit back, watch a couple of charts as they move throughout the day, and make trades on a whim you’re probably not going to be able to make this a full-time job. 

If, on the other hand, you’re willing to put in the work and really treat this as a new career – or a new business – than the odds are pretty good you’ll have a lot more success in Forex for sure. 

But understand why you’re getting into Forex specifically before you take the plunge. 

How to Become a Full Time Forex Trader 

If you’ve decided to become a full-time Forex trader after all here are a couple of things you’ll want to think about to help you get a running head start. 

Research Trading Strategies and Then Stick to the Plan 

You can trade the Forex market “instinctively” if you want to. 

But that’s the fast road to failure unless you get spectacularly lucky. 

Instead you’ll want to research a bunch of trading strategies, find strategies that resonate with you and the goals you’re looking to achieve, and then commit to that plan moving forward. 

You can pivot later down the line for sure. But you need a solid foundation to build your full-time Forex career on. 

Treat Forex Like a Business 

Secondly, you need to be sure that you are ready to treat Forex like a business or a new career and not like a profitable hobby. 

You need to get up early in the morning, read the latest news, track chart trends and movement, and then hunkered down to monitor the Forex market as it moves throughout the day. 

This has to happen regularly and consistently. 

A lot of Forex successes marketed as a two hour a day job, and while there are some Forex investors that enjoy a lot of success with that kind of approach there are tons more that bottom out, lose everything, and quit Forex because they took this “lazy man’s way to riches” approach initially. 

Don’t let that happen to you. 

Michael Bamber, an FTMO funded trader

Have an Emergency Fund in Support 

Before you jump into Forex trading is a full-time job be sure that you have an emergency fund in support that you can rely on if Forex trading proves to be a little more challenging than you initially expected. 

Three to six months of expenses in a bank account somewhere (and ideally a full year of expenses) will help cushion your early trading activity in Forex, especially if you don’t hit it big right out of the gate. 

Paper Trade for Three Months Before You Take the Leap

Always – ALWAYS – paper trade on a day-to-day basis for three months (minimum) before you decide to make Forex trading your full-time gig. 

You need to know the mechanisms of how Forex works. You need to know how to research and execute trades. You need to know how to analyze all the moves you’ve made and determine whether or not they’ve been profitable or should be avoided in the future. 

Paper trading won’t teach you the psychology of putting $10,000 or more on the line on a risky Forex trade, but it’ll give you practical knowledge of how to move through Forex that is invaluable. 

If you don’t fancy paper trading, I’d recommend demo accounts. When most traders hear this they are quick to jump to ‘aren’t demo accounts rigged?‘. Well, no, they aren’t! They actually provide a great environment for traders to learn in, without causing any risk to their financial situation.

Should Forex Trading Be a Part Time Job?

At the same, maybe you decide that Forex is better left a part-time gig for you. 

There’s nothing wrong with that! 

Plenty of Forex investors enjoy significant profits trading part-time, jumping into the market only when they see a new trend bubbling up, or executing positions that are very short-term. 

Just be sure that your Forex strategies align with this part-time approach. I’d recommend looking at more swing trading strategies

Be decisive with your trades, too. You don’t want to “snooze and lose” when you are a part-time trader. 

Another benefit of keeping forex trading as a part time job is the simple fact that banks don’t love the idea of lending money to forex traders.

It’s actually incredibly hard for forex traders to get a mortgage

Good luck going forward!

In Summary – Can You Trade Forex Full Time?

In conclusion, you can become a full time forex trader, but it will take some time, effort and a solid plan. Be sure to research strategies and commit to a plan, treating forex like a business. Have an emergency fund in place and always paper trade for at least 3 months before making the switch to live trading. You may also want to consider keeping Forex as a part-time gig. Whatever you decide, good luck!

If you’ve started to get interested in the world of Forex investing, but aren’t quite sure of its right for you – especially if you want to be able to trade foreign currencies anonymously (or with at least a little bit of extra privacy) – you’re going to love the inside information we highlight below.

Believe it or not, learning how to trade Forex without documents/verification is a whole lot easier than most people realize.

You can trade forex without documents if you trade with an unregulated offshore broker. These shady brokers typically don’t conduct any due diligence or KYC on traders, so won’t be asking you to prove your identity. This does come with huge risk as these brokers are easily able to manipulate prices and provide a subpar trading experience.

There are a ton of brokers out there catering to anonymous or semi-anonymous investors, investors that want to leverage the power of Forex but aren’t willing to compromise their own operational security or online anonymity along the way.

At the same time, though, learning how to trade Forex without documents/verification does require dabbling in a bit of a “gray area” of the Forex world.

You have to be 100% sure of what you’re getting into (and really trust your anonymous broker) if you are going to go down this road.

That being said, plenty of people – and more each day – have already gone down this road and are happily (and successfully) trading Forex without any documents and without any verification.

How to Trade Forex Without Documents/Verification

To kick things off, it’s important to understand that the overwhelming majority of legitimate brokers

It’s not at all uncommon for major brokers to request things like:

Identification documents that verify your trading identity

Identification documents that verify where you live and where your regulatory bodies should be located

Documents verifying your bank account details

… As well as other details that can include:

• Occupational information
• Utility bills for location verification
• Phone number details
• Estimated turnover amounts
• The source of your funding
• Sample signatures 

… And the list goes on and on!

Some of these documents and verification details are going to be requested to meet specific regulatory rules and regulations. 

Other documents and verification details, though, are requested by the broker specifically to protect them later down the line should something go sideways with your account. 

Not everyone is willing (or eager) to par with this kind of information – especially things like a copy of your passport, your driver’s license, and your Social Security number as well as your banking details – to just anyone and everyone. 

That’s why it’s important to learn how to trade Forex without documents/verification. 

Can You Trade without Documentation? 

Yes, you’ll be able to trade without documentation – but you’ll have to go outside the “traditional” Forex landscape to do so. 

This usually involves trading with either offshore brokers or unregulated brokers. 

Offshore Brokers 

Offshore brokers

Sometimes this means working with European brokers when you live in the United States. Sometimes it means working with Asian brokers when you live in Europe. 

At the end of the day, any broker outside of your sphere of influence for local regulatory bodies could be considered offshore brokers. 

Unregulated Brokers 

Unregulated brokers

These brokers definitely exist within the “gray area” that we have mentioned already and are not without their own risks. 

We touch on that in just a minute, though. 

Trading Forex with Offshore/Unregulated Brokers 

If you’ve decided to try to trade Forex with offshore and unregulated brokers there are a couple of things you need to think about before jumping headfirst into the mix. 

Do Offshore and Unregulated Brokers Offer a Legit Experience? 

First of all, you need to confirm that the offshore and unregulated brokers your considering working with are going to offer you a legitimate Forex experience. 

They should be able to provide you access to the same market tools, market research, and trading platforms that “traditional” Forex brokers offer – and the experience should be a 1:1 clone of those brokers, too. 

You don’t need to be cutting corners and handicapping your ability to succeed in Forex just by choosing to go with unregulated or offshore operations. 

Are They Safe? 

Secondly, you absolutely – ABSOLUTELY – must confirm that the Forex offshore and unregulated brokers you’re creating an account with our 100% safe, 100% secure, and 100% reliable BEFORE you create that account. 

You’d be stunned by the amount of people that jump into a relationship with nontraditional Forex brokers only to discover that they stole their identity, stole their banking information, or compromised their account in a bunch of different ways after the fact. 

A lot of the pain, a lot of the stress, and a lot of the anxiety of dealing with less than reputable nontraditional Forex brokers can be avoided simply by doing a little bit of research and a little due diligence. 

The Dangers of Trading Forex without Documents 

Trading Forex without documents and without verification can be a little bit risky. 

Here are some of the biggest risks you have to mitigate if you’re going to go down this road. 

Manipulated Spreads 

It isn’t at all unusual for less than ethical and less than reputable offshore and unregulated Forex brokers to manipulate spreads

This means you’ll be seeing inaccurate trading data, you’ll be making the wrong trades at the wrong time, and you’ll end up paying significantly higher commissions – and more fees – along the way. 

Rule Changes on the Fly

Another thing that unregulated operations like to do is change their rules on-the-fly, usually to protect themselves and expose their “clients” to more risk. 

Pay attention to every update to privacy policies, terms of use, and any other agreements you have had to green light before you joined up for unregulated operations. 

If rule changes shift and you don’t like them close your account ASAP. 

Challenging Recourse 

One of the biggest risks in going the offshore/unregulated route is having next to no recourse if something goes sideways with your account. 

Funds stolen out of your bank account?

Trades successful but you never got paid your profits? 

The wrong commissions paid out, excessive fees tacked on? 

Unregulated operations may not even open your customer support emails at all. 

Trouble with Banking 

Finally, anytime you provide a financial organization with personal information, Social Security information, and bank account information you run the risk of those details becoming compromised – and your life getting a lot more frustrating. 

You have to – absolutely MUST – only ever work with legitimate and reputable Forex broker operations, whether they are regulated or unregulated. 

You don’t want to risk your whole financial future just for the promise of anonymity.

In Conclusion – How Can I Trade Forex Without Documents?

In summary, it’s perfectly possible to trade forex without documentation, although it’s not something we would really advise traders on doing.

The only way to trade forex without papers with to use an regulated broker that doesn’t perform any kind of due diligence or KYC on their traders.

This, of course, comes with huge risk – not just to your capital, but also to your identity.

So if you’re planning on trading forex without documents, be sure that you know exactly what you’re doing and that you’re comfortable with the risks involved.

Do you trade with offshore brokers? Let me know in the comments down below…

Forex investing is as popular as it is today because of the low barriers of entry, almost 24/7 access to the Forex markets, and the ability to capitalize on huge amounts of leverage

At the same time, though, if you’re not smart, if you’re not strategic, and if you’re not deliberate with your Forex trades it’s not hard to find yourself blowing through hundreds, thousands, tens of thousands of dollars (and maybe even more) faster than you ever thought possible.

This leaves a lot of new – and some seasoned veteran – Forex traders thinking about quitting the game altogether. Are you wondering “should I quit Forex” right now?

You should only quit forex if you have truly exhausted all possible options when it comes to progression. The choice to give up on forex trading is very personal and depends mostly on situational factors, such as other commitments and financial situation.

Should I Quit Forex?

Making the decision of “should I quit Forex or not” is a very personal decision – but there are a couple of things you can ask yourself to make heads or tails of your situation right now.

Have You Been Trading for Years and Still Aren’t Making Any Money?

One of the most important things you need to ask is whether or not you been having any real success in the Forex markets. 

Some people (like we mentioned above) get pulled into Forex because of the promise of easy access and almost unlimited profits.

They jump right in with both feet, never really understanding that Forex success demands strategic investments and a lot of dedication. 

If you’ve not been having any success in the Forex market – especially if you’ve been in for a couple of years and have yet to turn a profit – this might not be for you. 

With that being said, it’s important to understand how long it takes to learn forex

Do You Plan Your Trades, Journal Your Wins and Loses, and Adjust as Needed? 

Another tip that Forex investing might not be for you is if you sort of fly by the seat of your pants, trading Forex on a whim without ever planning your moves, journaling your wins and losses, and adjusting your strategy as necessary. 

The most successful Forex investors are incredibly deliberate and intentional with their trades. 

They think everything through from start to finish, execute their strategy, and then record whether or not their decisions were profitable. 

More importantly, though, they adjust on the fly using this information to better inform their next investing decisions. 

I’d highly recommend using one of these top forex trading journals

Are You Bouncing from One Trading Strategy to Another with Little Rhyme or Reason? 

One reason that a lot of Forex traders question “should I quit Forex” is because they bounce from one trading strategy to another without any real rhyme or reason. 

If you don’t have a rock solid foundation of reliable fundamentals to build your trades off of it can sort of feel like you are swinging in the wind a little bit. 

Don’t chase every new Forex trend. 

Don’t bounce from one strategy to the next – at least not without any thought or reason behind the shift and pivot.

You’ll want to quit Forex altogether when picking a single path or approach to trading and then executing for a few months (or even a few years) might have made a world of difference. 

Are You Still Having Fun Trading Forex? 

While Forex can be incredibly demanding and time-consuming, it can also be a lot of fun. 

There’s just something about watching currency markets around the world shift and change based off of the goings-on of the world around us. There’s also a ton of money that can be made in Forex, too. 

If you aren’t having any fun trading anymore, and instead have found yourself beginning to dread opening up your Forex broker account, and might be time to pull the parachute and get out. 

Should I Change Forex Strategy or Quit Trading? 

Before you make the decision to quit Forex altogether, though, first consider changing your strategy.

It might make all the difference. 

No, you shouldn’t bounce from one strategy to the next (as we mentioned a moment ago). But if what you’re doing isn’t working – and hasn’t been working for a while – it may be time to shake things up before you abandon Forex altogether. 

How Effective is Your Strategy Right Now? 

The first thing you want to do is really track and measure how effective your Forex strategy has been up until now.

If you realize that your Forex strategy hasn’t really been working for you (or that you haven’t really had a Forex strategy at all up till now) it’s probably time to give something new a try.

Are You Getting Closer or Further from Your Goals? 

Secondly, you need to think about whether or not you are actually getting closer to your goals or are getting pushed further away.

Every move you make in Forex may not be a winner. But it should inform your trading, help you make smarter moves in the future, and inevitably get you closer and closer to your Forex investing goals. 

If that’s not happening it’s time to try something new, too. There are a huge amount of good forex courses

How Many Forex Traders Fail and Quit? 

At the end of the day, a lot of Forex traders are going to fail – and a lot of them are going to quit because of it. 

In fact, some research into Forex trading behavior shows that 70% of all Forex traders are going to drop out

If you don’t want to be part of that statistic, though, you’ll want to make sure that you are doing the right things.

Avoid:

• Undisciplined trading and trading on a whim
• Unplanned trading, trying to jump from one Forex fad to the next with no rhyme or reason
• Locking yourself into a static approach with the Forex market, forcing you to have an inability to move is the market does
• Unrealistic expectations that could have you wanting to quit Forex when you are on the verge of a breakthrough
• Unrealistic or poor risk management

… And at the end of the day remember that Forex success depends largely upon you, your strategies, and how you would just to the realities of the Forex market.

Keep these things in mind and you’ll never have to worry about whether or not you should quit Forex trading!

In Summary – Should You Give Up On Forex Trading?

In conclusion, you should only really give up on forex trading if you’re sure that it’s not for you, or your personal circumstances require you to remove yourself from the industry. Otherwise, you should always be willing to try a new strategy if your old one isn’t working, and constantly reevaluate your progress towards your goals. Finally, remember that most traders do fail – but that doesn’t mean you can’t be one of the successful minority. Just make sure you’re doing everything right!

Have you thought about giving up forex trading before? Let me know in the comments below..

There are a number of things that make Forex one of the most exciting investment vehicles available right now. 

Some people love the almost 24/7 access to the financial markets. 

Others appreciate the ridiculously low barrier of entry and ability to invest with smaller amounts of money. 

And then of course you have people that are excited to get into Forex just because it’s something a little different, something that doesn’t involve the stock market for real estate. 

At the end of the day, though, the overwhelming majority of people like Forex and the opportunities it offers because of the potential for huge profits. 

Can Forex trading change your life? 

Forex changing can absolutely change your life but it’s not likely. Only 20% of traders will ever make a profit within the forex markets and an even smaller percentage of those will have life changing amounts of profit.

You bet it can! 

These investment vehicles have the opportunity to totally transform your financial future, and transform that financial future a lot faster than you ever would have thought possible. 

This is not to suggest that trading Forex is simple or making a fortune in Forex something that can happen almost on autopilot. 

Nothing could be further from the truth. 

Can Forex Trading Change Your Life? 

It’s not a challenge to get really excited about all the potential that Forex trading has to offer when you get started in this investment world. 

The potential for accumulating real life changing wealth – we are talking hundreds of thousands of dollars, millions of dollars, and maybe even more – is always just another trade away. 

Some of the world’s richest investors made the bulk of their money investing in Forex. Many of them capitalized on the leverage

You can do the same! 

There are other ways that Forex has the potential to change your life, though. 

Let’s touch on a couple of them right now. 

More Tuned Into World News Than Ever Before 

One of the biggest changes you’ll notice about yourself after spending three months, six months, or a year in Forex is how much more in tuned you become with the news of the world around you. 

Most people flip on the nightly local news a couple of times each evening to get an idea for what’s going on in their immediate community. Some people like to listen to local news channels and programs, too – giving them a better idea of what’s happening domestically around the country.

Only a few people will expand their news consumption beyond our borders, though. 

Forex traders understand the power and value in not just consuming global news, but in analyzing what they’re told, and making connections across multiple nations and multiple markets, and applying that information on each and every one of their Forex trades. 

You’ll not only make money in the Forex world. You’ll also become a lot more worldly and more knowledgeable, too.

Most forex traders are constantly plugged into news sites like FxStreet

See the Systems Behind the System 

Watching foreign currencies shift and change in value (on a day-to-day basis) is going to help you see the “systems behind the system”. 

You’ll start to recognize which kinds of new stories cause certain currencies to change in value. You’ll start to better understand the relationship between different currency pairs

At the end of the day, it’s a little bit like getting a chance to look into The Matrix. 

You’ll start seeing connections and relationships you never would have noticed before. 

Tailor Forex to Your Goals 

Can Forex trading change your life for the better? 

Sure can! 

But the cool thing about Forex trading is that you can sort of bend it to your will as well. 

If you feel like trading on a part-time basis, Forex works for that. 

If you want to trade forex full time

If you feel like trading as a day trader, Forex works for that as well. 

If you feel like taking a hybrid approach – sometimes trading very actively and sometimes trading very passively – you’ll find that Forex is pretty perfectly suited to that, too. 

Achieve Legit Financial Freedom 

At the end of the day, though, the way that Forex will change your life the most is by helping you achieve true financial freedom. 

With the power of leverage and Forex (as well as some smart – and some lucky – trades) you have the power to enjoy the kind of financial future most people only ever dream of. 

What are the Chances of Forex Trading Changing Your Life? 

All that said, you have to understand that not everyone is going to see Forex change their life from top to bottom – and not always for the better, either. 

Forex research shows that only about 50% or so of traders enjoy success right out-of-the-box and through their first few years of investing. 

As shown here in this handy chart from Forex Illustrated

That means half the people that get into Forex are going to have a tougher time than they thought. 

On top of that, only about 30% of Forex traders are going to see a lot of long-term success in this kind of investment opportunity. 

What’s that mean for you, though? 

Well, it’s important to understand that you are not relegated to fall squarely on one side of these statistics or another. 

How you invest in Forex, how you research your trades, when you get in and out of positions, and a whole host of other things that contribute significantly to your success (or failure) are completely within your own control. 

Sure, luck plays some role in who becomes a Forex millionaire and who doesn’t. 

But a lot of success in Forex boils down to who works harder, who studies more, and who makes smarter moves with the best odds for success. 

Can Forex Change Your Life Quickly? 

One thing you really have to hammer home is that Forex success is very rarely going to occur overnight. 

Yes, you might be able to turn $1000 into $100,000 faster than you ever thought possible – but turning $1000 into $500,000, a million dollars, or more is an entirely different animal altogether. 

Forex investing is very much built for a long haul kind of approach. If you’re interested in figuring out how long it takes to learn to trade forex

You can certainly win Forex trades early (and often), but if you want to have Forex help you build the kind of financial freedom you’ve always dreamed of you must be committed to Forex for the long-term.

If you’re looking to expedite the process, you will need capital. How much capital do you need to trade forex

In Conclusion – Will Forex Change My Life?

In summary, forex probably won’t change your life. In fact, for 90% of traders, or more, it won’t have any real kind of positive effects. However, the few traders that actually make a success of forex trading do tend to have their lives changed for the better. These are the people that make a real success of trading forex, and they’re the ones that go on to change their lives in a big way.

So, if you’re thinking about getting into forex trading, don’t expect it to change your life overnight. However, if you’re willing to put in the hard work, and you’re lucky enough to be one of the few that actually makes a success of it, then forex trading could definitely change your life for the better. Who knows, you could even become a millionaire trading forex

Has your life been changed by forex trading? Let me know in the comments down below…