Welcome to the Forex Warrior Podcast! This week’s show is a special video podcast. Today, Jason talks about Support and Resistance Forex Trading and what this means to you as a Forex trader. You can download the episode as an audio version but this episode is best viewed visually. Support and resistance has been around a long time. In this episode, Jason explains it, the history of it and what it can mean for your trading.  This episode talks about using this technique to improve your forex trading game with a better analysis of the charts. A lot of people understand support and resistance but they don’t understand the intricacies within it and how important it can be to being a successful longterm consistent and profitable trader. Support and Resistance Defined What is it? Support is defined as the level on a trading chart that acts as a barrier or floor in the price. It is an area that price has had difficulty falling below or moving lower than in the past. Resistance is the opposite of support. Resistance is a level on a trading chart that acts as a barrier or ceiling in price. It is an area that price has had a difficulty in rising above or breaking out higher than in the past. An Example of Support It’s important to see the visual at this point in Jason’s example of the Austrailian US Dollar one-day time frame. You can see that the support area does not have to be aligned. It can actually be a zone that proves to be support over time. Even though it’s not an exact line, it’s still very important as far as support is concerned. To hear the rest of Jason’s tips, download and listen to Support and Resistance Forex Trading! Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Support and Resistance Forex Trading. Thank you for tuning in to The Forex Warrior podcast!

Talking about Forex brokers is something that Dr. Jason can do for hours and hours.  On today’s show, he’s compiled a list of the most important points to consider on How to Choose the Best Forex Brokerage for Your Trading. Regulatory Compliance If you’ve been around the market for a while, you know there are regulations in the country of Cyprus, there is a regulating body in Great Britain, Germany, the US, Australia, Canada and the list goes on. They all have different names. Brokers that are regulated and licensed have paid fees, they have agreed to checks and balances, oversight and sometimes even protection from some of the countries that are regulating them. The brokers that Jason uses personally are not regulated brokers, but more about that in a moment. Some that the traders that he works with use brokers out of Europe that are awesome.  However, a lot of traders don’t qualify to trade with the big institutional brokerages that give great pricing fee structures. A White Elephant in the Room If you’re a USA resident or you want to trade with a USA broker, there are only a couple of them. There are forex.com and OANDA. Those are the two brokers that are left after the US government rules little by little kept raising the minimums and incorporated more rules and structure that pushed out the small brokerages. If you trade as a US resident, you have to follow the FIFO rule. First in, first out. That means you have to close trades in the order they were opened. Personally, for Jason, this is a ridiculous rule. To hear why Jason dislikes the FIFO rule and why he does not use a regulated broker, download and listen to How to Choose the Best Forex Brokerage for Your Trading. Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed How to Choose the Best Forex Brokerage for Your Trading. Thank you for tuning in to The Forex Warrior podcast!

If you’re ready to become a consistent and profitable Forex trader, Dr. Jason has compiled a list of questions to ask yourself on this Forex Warrior episode, Quit Playing Games and Lying to Yourself. Why Are You Here? First, you should ask yourself why are you here and why are you listening to this podcast. You might be here to learn or to get rich starting out with little money. Maybe you’re here to learn Forex trading to manage other people’s money. You might answer you are here to start it as a hobby and maybe grow it into a part-time income. “With a thousand dollars in a Forex account, the world is really yours.” – Dr. Jason Gospodarek on Forex vs. Stock market trading Are you here with a pure goal of making a certain percentage gain every month or every year.  Some people might answer because they are sick of their current job. Those are questions you should be asking yourself. What’s Your Current Income Flow? Are you here because your current job can’t be scaled two-times, five-times, ten-times or more? Even if you’re making a good income, you might realize that what you are currently doing is a dead end. What happens to your income at your current job or business if you just stop showing up? If you want to take an extended vacation of a month or more? Where does the money come from? Does it continue to flow? Can you access it or grow your income while you’re not at the job. Some folks might be here because the entry into the Forex market is much less than entry into the stock market. Because of the leverage in the Forex market you are able to control larger lot sizes and larger trade results with a smaller amount of capital. To hear the rest of the important questions to ask yourself about the Forex market, download and listen to Quit Playing Games and Lying to Yourself! Episode Links: The New Forex Broker Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed  Quit Playing Games and Lying to Yourself! Thank you for tuning in to The Forex Warrior podcast!

To be a successful Forex trader requires a lot of specific traits that need to come together synergistically to be successful over the long term.  Dr. Jason Gospodarek shares the traits necessary in Do You Have What it Takes to Trade Forex. Money You can learn to trade on demo accounts and without a lot of money. You can watch YouTube videos and take part in forums. When the rubber meets the road, you need the funds to start a trading account. Most brokerages will allow you to open an account with a small amount. These are sometimes called micro or mini accounts. Each brokerage has their own name. To obtain a lower cost per trade or spread or smaller commission on an ECN account, most brokerages require a deposit of roughly $2000.00 US dollars. This is a pretty good average across the board to unlock lower trading expense. Generally speaking, the higher your deposit the lower your trading expense. For a VIP account, some brokerages require about $10,000.00 US dollar deposit to get the best trading parameters. This will get you a very small spread or commission on ECN based accounts. Time If you don’t have the time to learn, trade and to monitor your trades, you might as well not trade. Put in the time to trade and to journal it. Much like continuing education as a doctor, you need to stay up to date on the newest technologies and the latest trends. If you stick with the same strategy over the course of your trading career, at some point that strategy is likely to stop working. Forex trading requires a long-term approach to trading and education. You have to have time to dedicate to trading. To hear the rest of Jason traits for successful Forex trading, download and listen to Do You Have What it Takes to Trade Forex. Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Do You Have What it Takes to Trade Forex Thank you for tuning in to The Forex Warrior podcast!

Dr. Jason Gospodarek has been a Forex trader for over 14 years. He could give you hundreds and pros and hundreds of cons. Today he gives us his take on a few of the top Pros and Cons of Being a Forex Trader. If you’re a seasoned trader, you may already know some of these. This podcast is for those that are new to Forex trading or are still doing it part-time. Trading is Stressful Let’s start with the bad stuff. Jason likes to end off on a good note so we’ll save the pros for last. Stress. Trading is a very stressful business. It can give you mental and physical stress. The physical stress can manifest itself as tightness in your back, neck and shoulders. It can even affect your stomach. Trading can be stressful for the large amounts of money or at other times, not a lot of money but a lot of time. Lack of Sleep It’s very difficult, especially in the US for people who work a regular 9 to 5 job. If you’re trading after work or before you go to beds, you’re trading the Tokyo Session. Tokyo Session is commonly a slower session. It can be quiet. You typically get into trades after dinner in the evening, do your research, make find their entry, take it a low and behold it’s [9:30] or [10:00]. Finally, some news starts to trickle in as the European markets begin to open and by 1;00 am the markets start to change and become more volatile. Overnight Ups and Downs That trade you made at 9 or 10 o’clock at night is finally starting to move. If it’s profitable, you don’t want to go to bed, you want to ride it out. Alternatively, if it’s negative, you might not be able to sleep and it starts causing you stress. Maybe you sleep just fine but you find yourself waking up several times through the night checking on the trade.  This is where you should let your stops and limits work for you. To hear Jason’s take on the good and the bad, download and listen to Some Pros and Cons of Forex Trading. Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Some Pros and Cons of Forex Trading! Thank you for tuning in to The Forex Warrior podcast!

There are fancy ads on the internet showcasing fancy cars, helicopters and stacks of money if you use a particular trading robot. Today, Jason talks about Can Automated Forex Trading Make YOU Rich?! Expert Advisor These ads promote ‘Expert Advisors’ or ‘EA’s’, they are black-box algorithms that trade automatically on your behalf and claim they will make you rich overnight and some even claim within the first few hours of use! These claims are outlandish and most are rip-offs and scams. But there is some validity. How They Work The cost ranges from free to thousands of dollars. Most are a subscription based. There are monthly, yearly or even lifetime options. Users do their homework and decide on the service that’s right for them. The EA’s have to be downloaded on a virtual server because they must run 24 hours a day, 5 1/2 days a week. Unless you have a computer on 24 hours a day, you want to instill your program on a virtual private server or VPS. The average cost is about $20.oo per month. Track Your Progress Once you have purchased the EA and installed on a VPS, it’s time to track it. You can either log in and watch your results or you can link it to third-party software like myFXbook or FXBlue. There are a host of providers to search from. You then watch, track, study and adjust as needed. Beware the Warning Signs Demo trading on practice accounts is very rarely equal to the results in a live money account. Not only can the spreads between broker pricing make a difference but the data feed, the speed of the trade can as well. The established brokers are looking for 1 to 2 to 3 Pips of profit per trade. And they may only trade 1 time per week. It’s important to have an ECN broker that has a very small spread and maybe even a small commission to get the most bang for your buck. To hear the rest of the warning signs and Jason’s take on EA’s, download and listen to Can Automated Forex Trading Make YOU Rich?! Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Can Automated Forex Trading Make YOU Rich?!  Thank you for tuning in to The Forex Warrior podcast!

It’s an exciting time to be a Forex trader and this week Jason Gospdarek is sharing My Current Favorite Forex Related Websites! These are the websites he uses most when he’s actively trading. Developing a Solid Foundation If you’re new to trading, it’s agreed by most that have been trading for a long time that Baby Pips is an excellent website.  Here you can read about Forex news, trading, and education. They also have a calendar and a community so you can engage with other traders like yourself. Jason’s favorite part of this website is the education it provides. Check out the School of Pipsology under education on the website. It’s great! They list everything as pre-school, kindergarten, elementary and all the way up to the college level and graduation! This is a great place to learn all of the basics for free. It’s a great foundation to get you started! Even if you’re not new to trading, it’s a great place to visit to discover and learn some of the new things in the market or some things you may have missed years ago. News and Analysis Forex Live is a site Jason keeps open pretty much all the time when he is trading. The Forex Warrior has an upcoming podcast featuring a guest from Forex Live. He’ll share some insights into the market, his experience and how he got to where he is today. Forex Live has a great news feed, technical analysis, cryptocurrencies, economic calendar and education, too. To hear the rest of Jason’s favorite websites, which ones he relies most on and why they can be helpful to you, download and listen to My Current Favorite Forex Related Websites! Links related to My Current Favorite Forex Related Websites: www.BabyPips.com www.NewForexBroker.com www.ForexLive.com www.ForexFactory.com www.FinancialJuice.com www.ForexSignals.com www.Twitter.com www.MyFxBook.com www.Stitcher.com www.iTunes.com Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed My Current Favorite Forex Related Websites. Thank you for tuning in to The...

Welcome to The Forex Warrior podcast! On today’s episode, Dr. Jason discusses 7 Tips for Forex Trading Success + My Favorite Pair to Trade!  Number One – Forex is a Zero-Sum Game If you are new to Forex trading, it’s important to understand that it’s a zero-sum game. What that means is if you’re making money, someone else is losing money like a bank or a hedge fund. Vice-versa, when someone buys the Euro vs the USD, the price will move up until there is more volume selling it for the price to move down. If you’re taking a big gamble where you are excited to see double or triple your account tomorrow…you’re in the Forex market to lose. – Dr. Jason Gospodarek Trading in the Forex markets is a lot different psychologically and fundamentally than trading the stock market, futures or cryptocurrencies. It’s trading one currency against the other, it’s trading pairs and if you’re not familiar with that, Dr. Jason recommends doing a bit more research before you get started. Number Two – Leverage Kills Whether it’s greed, it’s fear or whatever it might be, leveraging your account up 100:1,  200:1, 500:1 or even 5000:1 is a sure recipe for disaster. A lot of brokers offer high leverages, 500:1, for example, is average outside of the US and some of these brokerages are ok. But you have to be able to take full advantage of what these brokers have to offer to be successful. Don’t go too big for your account. Trading successfully repetitively should be a boring and tedious repetitive process. – Dr. Jason Gospodarek For instance, if you are able to trade one full standard lot of the dollar Yen on a $200 account. You can select to trade a lot less. You can select a .001 lot, a .01 lot, a micro or a mini. You don’t have to use the full leverage all of the time. Dr. Jason does not recommend testing this out unless you have a tiny account or you are in a demo and you can learn a little more about how leverage works. To hear the rest of what Dr. Jason has to say about 7 Tips for Forex Trading Success + My Favorite Pair to Trade, download and listen to the entire episode! Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed 7 Tips for Forex Trading Success + My Favorite Pair to Trade!. Thank you for tuning in to The Forex Warrior podcast!

Andrew Lockwood, seasoned forex trader and mentor, touches base with his dear friend Dr. Jason Gospodarek in this special episode. Andrew is a true influence to his fellow mentor Dr. Jason who’d shared livestreams with him for about a year at Forex Signals. Today they get to the heart of the forex market, the good and bad side of it, and the challenges that traders go through. “Ultimately, the trait of a trader, whether you’re trading on the pit floor or whether you’re trading on a screen, or whether you’re already a professional forex trader… is the discipline that really resonates and shines through at the end of the day.” – Andrew Lockwood Andrew Lockwood – Raised in the Pit Andrew has been in the market since he left school at 18 years old. Despite not having solid credentials, he went straight into the London Stock Exchange and became probably the youngest trader on the floor at 19. A few years down the road, he went to the futures and options pits. He spent the next ten or so years shouting and screaming and doing hand signals, the way it was done back in the day. From Pits to Screens His career as a trader spanned the height of the traditional methods, the transition into new technologies, and finally trading on a screen. London was closed down and Andrew was moved up into the office with electronic screens. He sought out the comfort of what he was used to and traveled halfway around the world to Singapore to continue his trade. “A lot of it was done on eye contact, shouting and screaming… Now you look at candlesticks and a chart… You used to look into people’s eyes. You used to look at the fear in their face when the market was going against them.” – Andrew Lockwood Eventually, the rest of the world caught up with the trend. By 2004-2005, Andrew flew back to London and embraced the dawn of the digital age. He traded off his laptop and got immersed in the culture of trading on screens that we know of today. Living and Breathing the Forex Market Now a father of three girls, Andrew enjoys working from the comfort of his home. With Forex Signals, he’s able to impart his learnings from over three decades of trading. He wouldn’t trade any of it for the world. To hear more about Andrew’s ventures into the forex market, his invaluable knowledge, and his experiences with Dr. Jason, download and listen to Forex Expert Andrew Lockwood (ForexSignals.com) Shares His Story & Secrets! Learn more about Andrew Lockwood: ForexSignals.com Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Forex Expert Andrew Lockwood (ForexSignals.com) Shares His Story & Secrets! Thank...

For today’s episode, Dr. Jason Gospodarek will let you in on 15 things you must know if you want to trade the forex markets successfully. Enjoy Handling Risk Forex trading is inherently risky. In fact, as a forex trader, all that you will be doing in the market will involve risk. What you must do is to control that risk, whether by making it tiny or making it huge. You have to be comfortable with that risk because it’s going to be there every single time. – Dr. Jason Gospodarek We all know that psychology is the most important part of trading. Strategy and percentages play a huge role. But the proper mindset and business between your ears will drive your work. Basic Understanding of the World Market and Fundamental Knowledge The importance of this knowledge and understanding can’t be undermined. You need to know what the euro, pound, and yen are. You need to be well versed in geography as well as basic understanding of different cultures. Being in the know of global news and understanding how and why currencies move in relation to one another is also important in order for you to better grasp forex trading. Learn to Handle Stress Forex trading is a 24/7 business. It’s not easy to turn it off when you have your money on the line. You need to be able to handle the stress that comes along with it, whether it’s from your bank account or a type A mentality. It’s also important to note that in this line of business, nobody cares about anyone else or anyone’s money. Not the brokers, not the markets; you’re on your own. The forex market is the largest in the world, and it’s through understanding what you’re up against and handling the stress that comes along with it will you be more successful. With all that risk comes the potential for great reward. – Dr. Jason Gospodarek To hear more tips from Dr. Jason that will help you realize your true potential as forex trader, download and listen to 15 Things You Must Know if You Want to Trade the Forex Markets.   Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Are Forex Traders Born or Made. Thank you for tuning in to The Forex Warrior podcast!

On today’s podcast, Dr. Jason Gospodarek talks are Forex traders born or made.  Richard Dennis and the Turtle Traders  Around 1983, Richard Dennis, a wealthy investor, got together with his investor friends and tried to answer the question of if successful traders are born or made. They took 21 men and women, gave them 2 weeks of training and 1 month to actually trade. A few of the people in the group actually made it through and he let them trade anywhere from $250,000 USD all the way to $2M USD of his own company’s money. Are Forex Traders Born or Made Results What’s exciting, over the next 5 years the traders who made it through the training that he taught right off the street, went on to make over $175M USD in profit! There were some low points along the way, it wasn’t all roses. But what Dennis’ experiment showed was that anyone could become a successful trader with no background experience. They took a survey on Baby Pips of 468 people if they thought traders were genetically predisposed to be successful traders or they could be taught. 25 said they were born and 443 said they could be made. Psychology is Key You have to be able to ask yourself if it’s possible to become a successful and consistent trader. The answer is yes if you have the right mindset. Does this mean you need to be genetically predisposed to handle the flight or fight response? It’s common knowledge that the mind can be challenged and expanded. The more effort, the more time, the more dedication you put into anything you are going to become better at. To hear what Dr. Jason says about the stress of trading and what it takes to be successful in the long-term, download and listen to Are Forex Traders Born or Made. Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Are Forex Traders Born or Made. Thank you for tuning in to The Forex Warrior podcast!

Dr. Jason Gospodarek is passionate about Forex trading and sharing what he knows with others. In today’s episode, Jason offers his personal tips and tricks to Take Your Forex Trading to the Next Level.  “The herding mentality goes on a lot in the (Forex) market.” – Dr. Jason Gospodarek on the psychology of trading Trade Like a Professional The proper psychology is very important. You want to avoid the greed and the fear in the Forex marketplace. This is important to become a consistent, profitable and long-term trader in the market. Think of a traffic jam, traffic is barely moving and you’re wondering to yourself what is causing this.  You wait and move slowly for miles only to discover there was a fender-bender. Traffic isn’t even blocked but everybody that drives by is taking their five seconds to check it out.  They drive slow and look, needlessly slowing traffic. The Herding Mentality That’s the herding mentality. If the markets are relatively quiet for a few hours and then some rumors begin in Europe about quantitative easing. Those rumors start to show up in people’s news feeds, they’re tweeted, they show up in forums and they become an over-exaggeration in the market. The Euro may strengthen or weaken based on that topic because there is nothing else going on in the market and it really is not that big of a deal. “When you watch the price move, it’s more about what people are buying and selling and what’s going on in their minds than it is about what was in the chart.” – Dr. Jason Gospodarek Be aware of this. When you watch the charts go up and down, take note that these are people who are buying and selling based upon chart patterns, based upon the herding mentality of people, about fear and about greed. Take Your Forex Trading to the Next Level “How much risk can you tolerate before you become uncomfortable?” – Dr. Jason Gospodarek Some traders risk .05%, 1%, 5% on a given trade. Some will risk whatever it takes so they do not lose. Your trading should be the same whether you are in a profit or you are in a loss, you’re having a good day or a bad day, a good week or a bad week. It’s not easy to do and we go back to psychology. You need to be comfortable in that trade. To hear  Dr. Jason’s personal tips and strategies he uses in his trading, download and listen to Take Your Forex Trading to the Next Level. Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don’t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Forex Fundamental Analysis. Thank you for tuning in to The Forex Warrior podcast!

It&#8217;s important to know what forex fundamentals are in order to supplement your trading plan; especially if you&#8217;re more of a technically related trader. If none of this makes sense to you, just listen in, make some notes and maybe you&#8217;ll get a couple of nuggets from the show that you can distill down and add to your trading methodology. Hopefully, there will be something you can remember and use in the future in this episode Forex Fundamental Analysis. Fundamental trading is really about news events and how they affect the markets. &#8211; Dr. Jason Gospodarek Dr. Jason doesn&#8217;t trade fundamentals only in his forex account, he&#8217;s mostly a technical trader but he believes you need to be aware of what is going on in the world and your markets if you want to be successful in your trading. He&#8217;s not a fundamental trading guru but he&#8217;s taken a lot of courses on it, has read books on it and has learned how to trade forex going on 14 years now and he uses fundamentals when he does his trading. What is Fundamental Trading? Here are the basics of it. It&#8217;s the central banks monetary and fiscal policy. The fiscal policy is the direction the government works regarding taxation and spending and borrowing. The monetary policy is the actions they take to achieve the fiscal policy. In forex trading, if you want to distill everything down to the most simple format, interest rates of a currency is the value of the currency. If you talk the US Dollar, the interest rate is how valuable that US Dollar is. The same holds true for the Australian Dollar, the Euro or the British Pound. Banks buy currency and hold it in reserves and/or increase its supply. What they do is they pull it back, they keep more of it back and it helps to raise the rate of the currency. The banks can also put more of the currency out into the market and decrease its value slightly. That&#8217;s part of the backbone of what forex trading is. Forex stands for Foreign Exchange which is currency trading. What News to Watch When the rubber meets the road, fundamental trading is really about news events and how they affect the markets. There are a lot of news events to follow. Most of the high-impact or medium-impact news events are the most important. You can do searches online. You can Google search &#8216;forex economic calendar&#8217; and find one that you like. Jason happens to like Forex Factory. You can find the link below. To find out more about Forex Fundamental Analysis and how Dr. Jason uses it in his daily trading, download and listen to the entire episode. Links to Forex Fundamental Analysis: The Forex Factory Trade The News Forex Live Forex Crunch Financial Juice Daily FX Connect with Jason: TheForexWarrior Facebook Snapchat Instagram YouTube <a href="https://twitter.com/WarriorForex" target="_blank"...

In today’s episode, Dr. Jason Gospodarek lets us in on an important topic for everyone who’s into forex trading: Forex Technical Analysis. He discusses what technical analysis entails, as well as the different tools and know-how you need to get started. What is Forex Technical Analysis? Technical analysis is studying chart patterns that show up based on the past price action in the forex market. The time frame can vary: past minute, past hour, day, week, month, or even a year. “Whatever you have, it’s looking at the past chart pattern.” &#8211; Dr. Jason Gospodarek  Different Chart Types There are different types of charts that you can come across in the forex trading. There are bar charts, line charts, and candlestick charts. Bar charts can be found in any platform used to trade forex with. A bar chart is a solid line with hash marks on the left and right sides. Used by some of the most sophisticated traders in the industry, bar charts represent the price range from high to low within a time frame. Line charts are a more straightforward type, preferred by those who have done forex trading for a long time to see patterns. However, unlike bar charts, you can’t see the highs and the lows of incremental movements, just the average. Candlestick Charts A personal favorite of Dr. Jason’s are the candlestick charts, through which he learned to trade forex when he first got started. You can set the color of the “bodies” of the candles, which show the opening and closing prices, usually darker when there’s downward movement and lighter when upward. The wicks at each end of the body also show the highest and lowest prices traded. When using charts, however, it’s important to note that there are no fixed opening and closing trade times for different brokerages. “Remember, different brokers in different platforms have different trade times.” &#8211; Dr. Jason Gospodarek  To hear the rest of Forex Technical Analysis, download and listen to the episode! Connect with Jason Gospodarek: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don&#8217;t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Treating Forex Trading as a Business. Thank you for tuning in to The Forex Warrior podcast!

Welcome to the Forex Warrior! This episode is all about Getting Structure to Your Trading. This episode is all about getting organized with your trading, making a plan in your mind and in your finances in the time that it takes to trade. Dr. Jason Gospodarek will also discuss fitting trading into your life and within the trading platform.  Support is Key Don&#8217;t make the same mistakes that others have made. Learn from others and distill it down into your technique and strategy. Having the support of others is key. You have to have a group, a person, a website or a course. Something that is there to support you through your trading journey. Whatever you find that works for you, that is your support for getting started. “Follow the path to success by using the experience of others.” &#8211; Dr. Jason Gospodarek Find a Mentor A mentor is someone who has been down the same path you are now traveling. If you are looking become a full-time successful trader or someone looking to replace a certain percentage of their income trading in the forex markets, you want to learn from someone who has been down that road.  Learning the Trade “What happens between your ears is the most important part of trading success.” &#8211; Dr. Jason Gospodarek However you choose to learn, there has to be a way that you actually learn through training. It&#8217;s the same with any skill such as going to school to be a doctor. First, you study the book, then you take tests and then you actually have hands-on experience. The same thing happens if you are in a trade like a plumber or an electrician. First, you learn in the book and then you have live training. The same holds true for forex trading. Live Training Training in the forex markets either means trading with real money or a practice or demo account to get the feel of how the platform works when you buy and when you sell. Forex training educates on how the charts look and how they are set up. You&#8217;ll also learn about what time you are trading and what you are risking. To hear Jason&#8217;s personal detailed trade analysis download and listen to Getting Structure to Your Trading! Connect with Jason Gospodarek: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don&#8217;t forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Getting Structure to Your Trading. Thank you for tuning in to The Forex Warrior podcast! &nbsp;

Forex trading is a real business that you can work from home and from anywhere around the world. Its flexibility brings so much potential in the market. In today’s episode, Dr. Jason Gospodarek talks about how you can start Treating Forex Trading as a Business in order to start gaining your deserved profit. Forex Market Trades Over $5T Every Day in Liquidity Its market size and scope of liquidity dwarf any stock market, any economy in the world. The forex market is huge and runs 24 hours a day, five and a half days a week. In the US, that’s from Sunday evening to Friday afternoon. Many people get rich and leave their full-time jobs to trade. Other people lose everything and go through bankruptcy. Trading is volatile, but you can take advantage of this volatility by learning from the experiences of others who’ve been there and done it already. “Don’t waste your time making all the same mistakes.” &#8211; Dr. Jason Gospodarek Creating a Business-Like Environment If you want to treat trading as a business, you need to have a good environment to help you focus. There are many ways by which you can achieve this, but the majority of the people engaged in the market work from a home office. If you choose this method of going about your trading business, you can write off a home office deduction, like your electric bill or Internet bill. As for getting a decent trading computer, you don’t need twenty monitors, just one or two will work. There’s no need to sit in front of the computer all day keeping your eyes peeled for every bit of news online. But you would want to be able to watch a few different charts, look at spreadsheets, and pay attention to things all at one time. Taking Care of Yourself “This is a business that’s run between your ears.” &#8211; Dr. Jason Gospodarek You don’t have to be a marathon runner or a crossfit superstar. If you’re tired and stressed with a heart attack waiting to happen, however, your chances of becoming a consistent and profitable trader in the long term will go down the drain. You can at least watch your diet. Eat fairly healthy, and if you can, exercise a few times a week by doing something that you actually enjoy. Get yourself physical because with trading, you’ll be sitting for long hours. To hear the rest of Treating Forex Trading as a Business, download and listen to the episode! Connect with Jason Gospodarek: TheForexWarrior Facebook Snapchat Instagram YouTube Twitter Don&#8217;t forget to subscribe and leave a positive rating and review on <a...

Dr. Jason Gospodarek has been actively trading in the forex market mentoring traders, creating forex courses, promoting websites and working with brokers, he’s seen a lot of why forex traders fail.  Jason shares why they fail and how you can avoid the same mistakes. “Don’t bet the farm on one trade...Risk what you are comfortable risking” - Dr. Jason Gospodarek Overleveraging the Account Most traders he’s met have overleveraged accounts. There are brokers that give you 1000:1 leverage, 3000:1, 5000:1 and even 100:1 leverage is too much for most traders, especially when they are starting out. This is the main reason forex traders fail.   “Stick to your plan. You should always have a target.” - Dr. Jason Gospodarek Using too much risk and too much margin on your account is a key to failures in your endeavors. The forex market is open 24 hours, 5 ½ days a week so don’t bet the farm on one trade, one day, one week or even month. Early Profit Taking - Why Forex Traders Fail Risking too much to make too little. Trader “X” was a good trader but he could not let the trade run to the target. If he had a 50 PIP stop on a trade and 100 PIP take profit, he would get into 30 PIP’s of profit and he would want to change his stops and take profit right away. This leads to lots of smaller wins but larger losers. Don’t get too excited when you’re in profit. Stick to your plan. You should always have a target set. Blindly Following Others When you’re on the internet, you have no idea if someone has been trading full time for decades or if they just started a month ago. Anyone can get a beautiful website these days and get all the software and apps to make it seem like they have a successful business and a successful trading record. Always study someone you’re learning from.  If you’re looking for someone to actually trade for you or trade your funds, make sure and see a live account. Demo accounts don’t mean a lot in the forex marketplace. Always ask for a live account record from a third party vendor like FX Blue, Myfxbook there are a lot of them out there. See if they really are who they say they are. To hear the rest of why forex traders fail, download and listen to the episode! Connect with <span style="font-weight:...

Dr. Jason Gospodarek has been actively trading in the forex market mentoring traders, creating forex courses, promoting websites and working with brokers. What he gets asked a lot is, isn’t forex trading the same as gambling? Today Jason will explain the differences of Is Forex Trading Gambling. “The first thing you've got to do is turn down all of the noise and listen to yourself.” - Dr. Jason on deciding if it’s a gamble or legitimate business to learn Don’t Believe Everything You Hear There are too many scams, faked reports, whether on a website or in the statements you get from your broker, claims that are out of the world, the good and the bad, the rumors, and jumping on the bandwagon. Whatever you hear, distill it down until you feel it is what you feel your own opinion should be of the market and then decide if this is a gamble or a trading business that I can learn and be more successful with into the future. “Stick to your plan. You should always have a target.” - Dr. Jason Gospodarek Chances are if you’re listening to this podcast, there is a really good chance you are already a trader, you want to be one or you already are one that wants to be better. The first thing you’ve got to do is turn down all of the noise and listen to yourself. If you’re really not committed to trading and what you want to do is flip the coin and hope to get lucky, anyone can do that. Lucky is good. But you cannot be lucky all of the time. Control Your Greed You have to learn how to control your greed in the market and not take on too much risk. You don’t want to be all-in on one trade, one news event or even one week or one month. “If you learn to use the right trading system you can also learn to get an edge in the marketplace.” - Dr. Jason Gospodarek Think about the casinos, the true gambling halls. The casino owners don’t care if someone hits the $10,000 jackpot today because they are making that small percentage, that small house edge anywhere from 5%- 12% on all of the games all of the time, day after day, minute after minute. They know they have a dependable, consistent return on their money. Is Forex Trading Gambling There are a lot of differences and a lot of similarities between forex trading and gambling. Download Is Forex Trading Gambling to learn all the details and you'll be able to make your own decision with help from Jason! Connect with Dr. Jason Gospodarek: <span...

Welcome and thanks for listening to The Forex Warrior Podcast and being a part of TheForexWarrior.com family! Joining the group is ALWAYS free to do. Subscribe s iTunes, Google Play, Stitcher, or wherever you listen to your favorite podcast episodes. I’m Dr. Jason Gospodarek and I started this podcast when I noticed a huge flaw when people like you (and me) began their forex educational journey. You may have found a good leader, mentor, or website to learn from but it’s easy to get locked into one mindset going forward. This podcast is designed to help you learn things about forex trading you may not have known and expose you to people, websites, brands, technology, programs, groups and great information that you might not have been aware of.  I want to go deep here, deeper than a simple Google search. My goal is for my listeners to become a more profitable trader in the forex markets! You can accomplish this with less stress, more fun, and in a much easier way.  I am here for you, to help you, to answer your questions, to assist and guide you on the forex trading journey, no matter where you are today. The Forex Warrior interviews successful traders and developers and forex brokerages.  The podcast is intended to motivate and inspire you. The website is intended to be your home-base during your forex journey! We are all in this together and it’s always WISE to learn from others' mistakes instead of making them yourself. Look for The Forex Warrior Podcast each Sunday at 7 pm CST. A little about Jason Gospodarek's background: Several college degrees, including a doctorate in optometry  A true entrepreneur by trade. I see patients part-time only  I have been very plugged into the forex market for over 13 years.  I do not trade stocks, futures, options, binary options, etc. All I trade is Forex and a couple of the metals. Managed forex funds for hundreds of investors across the globe (before the US laws changed years ago) Created and launched numerous forex related websites Helped start 2 forex brokerage firms Introduced clients to forex brokerage firms and provided support Launched a web-based forex trade copier service High view numbers in youtube for trading and education in the forex industry Mentored clients to achieve their trading goals Developed custom automated trading strategies from start to completion in Metatrader 4 <span...