If you want to learn more about forex contexts and how to participate in them, follow this guide. As the name goes, it is a contest held by Traders Union, where you can participate in forex trading on demo accounts. There is no need to invest any money as you are trading on virtual accounts provided by brokers. However, if you win the contest, you will get real-money prizes, unlike the zulutrade scam which false promises the trades.. The best thing about this contest is that it gives you an opportunity to learn forex trading and put your skills and strategies into use.

On top of that, it also helps you to win real money without making any deposits. On the Traders Union website, you will find various monthly contests to participate in. You will get all the up-to-date information about contests, prize funds, and current status.

These tournaments are specially organized for novice traders. Beginners from all around the world participate in these competitions to try their luck and improve their trading performance.

In order to win the contest, you need to earn as much money as possible by trading forex on your demo account. The top ten traders who make more money than others will be eligible for the real-money prize. If you want to win real money from trading without investing any capital, this contest is perfect for you. Here are the steps you need to follow in order to participate in these contests.

The first thing you need to do is visit Traders Union websites and register your account. All you need to do is enter your email id and select a password. Once you are done with registration, you need to use the account credentials to log in to your Traders Union account. Now, you need to select a broker from the list of brokers. Make sure you consider important factors when choosing a broker.

In this step, you need to download and install MetaTrader4 on your device. You need to use it for forex trading. Now, you need to go to your personal office to check the contest. You need to click on Traders Contest to check the list of all the available contests. The WHAT or WHY? You don't get the news fast enough anyway Keep it simple.

Home Forex Articles How to Trade Forex Without Watching the News. How to Trade Forex Without Watching the News Christopher Lewis. on February 14, Updated on July 08, You don't get the news fast enough anyway. Keep it simple. When I began trading , I was constantly looking for reasons that the currency pair moves in one direction or the other. I would have a trade on, and the market would work against me.

I would take some type of loss, and then go looking for a reason as to what happened. It only matters that it did. Once I started to focus on the WHAT or WHY of a move , I began to realize that understanding what drove the currency pair in one particular direction or another was completely irrelevant. What I needed to understand is that we did in fact break support, resistance, a trend line , or an exponential moving average.

If my trade got stopped out, I am clearly on the wrong side of the equation. Far too many people worry about whether or not the market has it right, or not. I personally know of a couple of traders that went bankrupt during the financial crisis a decade ago. However, that ridiculous fall did go on long enough to wipe them out financially. His argument was that money would flow back to Japan based upon a safety trade, an argument that was eventually correct.

Unfortunately for him, he started shorting that currency pair about six months too early. To make matters worse, he was so convinced that he was correct that he kept on shorting it.

He ended up blowing up his account. Even though he was correct from an esoteric standpoint, the reality is that the pair was going higher during that entire time.

In a situation like that, you can either be correct, or you can be profitable. When I first started trading about 13 years ago, a lot of people would get involved in news trading. There are programs out there now that scan the newsfeeds for headlines and place trades based upon keywords. For example, if we have had several poor economic announcements out of Canada recently, then you may suspect that the Canadian dollar is going to be somewhat bearish.

What this means is that you keep it in the back of your mind as a potential underlying driver of the currency. This is what news portals are so good at, aggregating the news for the longer-term move.

The liquidity becomes an issue, and of course the machines have made thousands of trades by the time you even press the button. However, the one thing that I think you should keep in mind is that we are here to trade and profit. Because of this, I think that what we are looking at is finding something that is technically simple for you to follow, and something that you are willing to follow.

The WHAT or WHY? You don't get the news fast enough anyway Keep it simple. Home Forex Articles How to Trade Forex Without Watching the News. How to Trade Forex Without Watching the News Christopher Lewis. on February 14, Updated on July 08, You don't get the news fast enough anyway. Keep it simple. When I began trading , I was constantly looking for reasons that the currency pair moves in one direction or the other.

I would have a trade on, and the market would work against me. I would take some type of loss, and then go looking for a reason as to what happened. It only matters that it did. Once I started to focus on the WHAT or WHY of a move , I began to realize that understanding what drove the currency pair in one particular direction or another was completely irrelevant.

What I needed to understand is that we did in fact break support, resistance, a trend line , or an exponential moving average. If my trade got stopped out, I am clearly on the wrong side of the equation. Far too many people worry about whether or not the market has it right, or not. I personally know of a couple of traders that went bankrupt during the financial crisis a decade ago. However, that ridiculous fall did go on long enough to wipe them out financially.

His argument was that money would flow back to Japan based upon a safety trade, an argument that was eventually correct. Unfortunately for him, he started shorting that currency pair about six months too early. To make matters worse, he was so convinced that he was correct that he kept on shorting it.

He ended up blowing up his account. Even though he was correct from an esoteric standpoint, the reality is that the pair was going higher during that entire time. In a situation like that, you can either be correct, or you can be profitable. When I first started trading about 13 years ago, a lot of people would get involved in news trading.

There are programs out there now that scan the newsfeeds for headlines and place trades based upon keywords. For example, if we have had several poor economic announcements out of Canada recently, then you may suspect that the Canadian dollar is going to be somewhat bearish. What this means is that you keep it in the back of your mind as a potential underlying driver of the currency. This is what news portals are so good at, aggregating the news for the longer-term move.

The liquidity becomes an issue, and of course the machines have made thousands of trades by the time you even press the button. However, the one thing that I think you should keep in mind is that we are here to trade and profit.

Because of this, I think that what we are looking at is finding something that is technically simple for you to follow, and something that you are willing to follow. In other words, if you get a sell signal, you simply take it. This is because there are a lot of competing factors and of course competing reasons for people to go long or short a pair anyway. If we break resistance, then we are going higher. If we break support, then we are going lower. Do you really care why? Or would you rather place your trade and make a bit of profit?

Christopher Lewis. Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy. Sign Up Enter your email. Did you like what you read?

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Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate will also be removed. Leon Kruger. This is the best advice I have had from anyone ever. Thank you. Your Name. Email address Required. Vincent foo. Yes, I agreed. Trading must be simple n stick to your system.

I now a Long term trader. Thank u again. Rita Anazie Ozoeze. I want to know how to trade Forex and make money can you help? Add your comment. To give you the best possible experience, this site uses cookies. If you continue browsing, you accept our use of cookies.

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Please make sure that you fully understand the risks involved, taking into consideration your investment objectives and level of experience, before trading, and if necessary, seek independent advice. However, since most participants are newbies, the chances of winning a prize are relatively high. How can we improve? Online Forex trading is characterized by the high speed of transactions, allowing traders to buy and sell coins. If you have any positions on the future of the UK Pound I would like to hear them. also there are weeks that almost daily there is HIN about one currency, what if using price action you can see that there is a good setup but there is a HIN, are you going to trade it or not? Even though he was correct from an esoteric standpoint, the reality is that the pair was going higher during that entire time.

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