Frequently Asked Questions

[et_pb_section fb_built=”1″ _builder_version=”3.0.47″][et_pb_row _builder_version=”3.0.47″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″ parallax=”off” parallax_method=”on”][et_pb_toggle title=”Why is fundamental analysis so important?” _builder_version=”3.0.106″ border_style=”solid”]Famous investors like Warren Buffet would never invest into companies like Coca Cola based purely on a price chart.

Similarly, you would never buy a house based purely on a property price chart or some technical indicators.

Instead, when buying or selling anything we all need to know the fundamentals behind whatever it is we are interested in. This helps us make the right decision.

For famous investors it might be the balance sheet and management team behind a company. For you buying your house it will be things like location and the state of repair that the building is in.

Currencies are no different and are backed up by fundamentals that give them either a positive or negative outlook for both the long and short term.

You can imagine what might happen if you bought your house blindly based on the price alone. It’s almost crazy to even imagine yourself doing such a thing.

But every day thousands of retail traders do a very similar thing when they jump into the FX markets with their hard earned money while only looking at a price chart.

When you understand what causes the prices to move you have a much better chance of selecting the right currencies at the right time to make a profit.[/et_pb_toggle][et_pb_toggle title=”Should I avoid technical analysis?” _builder_version=”3.0.106″ border_style=”solid”]You should definitely not avoid technical analysis. We simply advocate being aware of what everything is and how it actually works in the real world.

Technical analysis can be tremendously useful when looking for specific prices at which to execute orders.

For example, technical analysis can help you find an entry point. They can also identify great places for placing your stop loss orders.

By improving the performance of just these two things can dramatically reduce the volatility of your trades and your overall risk.

Technical analysis definitely plays a role and there are some great techniques that are widely used by professional traders and investors.

The key is that technical analysis will only ever tell you what the price did previously and never what it will do next.

This applies to both long term and short term FX trading.[/et_pb_toggle][et_pb_toggle title=”What can I do to become consistently profitable?” _builder_version=”3.0.106″ border_style=”solid”]The biggest step you can take right now is to start learning all about how and why the markets move and what drives currency price movements each day.

Read the economic news, follow your favourite analysts and ask questions. We created ForexSource to help you do all of these things.

You will also need to focus on risk management and trading psychology. All of the trading skill in the world will not save you if your risk is too high or your expectations are unrealistic.

Once you have these things nailed the next step is to practice your trading skills passionately and with an eye on constant improvement.

If you make this your initial approach you will see regular progress in your skills and results over time.[/et_pb_toggle][et_pb_toggle title=”How should I use the Forex Source website?” _builder_version=”3.0.106″ border_style=”solid”]Forex Source is a united tribe of traders that believe passionately in the power and value of fundamental analysis. We are, quite literally, a community of fundamentalists!

The site is designed to help you understand why certain things cause the price to move the way that they do.

We strongly recommend that you bookmark this site and check it daily for updates. We specialise in creating analysis that is educational as well as informational.

When a fundamental event happens we will alert you but also explain why it’s important and how we can expect it to impact the price of currencies over the coming days and weeks.

To make sure you’re fully tuned in we also recommend registering your details and joining our online community. You will receive alerts, updates and lots of free educational analysis.[/et_pb_toggle][et_pb_toggle title=”Learning FX trading as a complete beginner; where should I start?” _builder_version=”3.0.106″ border_style=”solid”]There are a lot of fantastic free resources that will help you get started. We recommend that you use several of them alongside our own site here. This will help you get the basics down.

Once you understand the absolute basics of Forex trading, we believe that you need to understand how and why currency prices move.

This understanding will vastly improve your chances of making a consistent profit.

We provide a variety of free resources to help you understand everything you need to know about fundamental analysis and the mechanics of how the markets operate.[/et_pb_toggle][et_pb_toggle title=”What other free FX resources do you recommend?” _builder_version=”3.0.106″ border_style=”solid”]

We are genuinely here to help you succeed and are aware of several large sites that can offer you high quality information.

If you are a total beginner looking to get to grips with all of the trading basics then we recommend www.babypips.com.

Our favourite (free) economic calendar can be found at www.forexfactory.com.

We believe that all of these sites can offer you genuine value in your trading education and complement everything that we provide here.

[/et_pb_toggle][et_pb_toggle title=”What broker do you recommend?” _builder_version=”3.0.106″ border_style=”solid”]We do not recommend a specific broker because we have only limited control over how any broker operates and treats its clients.

We have a detailed guide on how you can select a broker and some common pitfalls to watch out for.

We do run events and features from time to time that may be sponsored by a specific broker. This does not mean that we recommend them.[/et_pb_toggle][et_pb_toggle title=”Will you help me build a professional trading business?” _builder_version=”3.0.106″ border_style=”solid”]At ForexSource our focus is on the passionate teaching of Forex fundamental analysis. Once you grasp it and apply it consistently you will notice an improvement in your overall trading.

If you go on to generate a profitable track record of success then you have the key foundation you need to build a successful trading business.

While we cannot help you with this directly we have a lot of industry connections that can help you make that step up to building your own professional trading business.

If you have a verified track record showing 6 months or longer of profitable trading, then please contact our support team and they will help you with your next step.[/et_pb_toggle][et_pb_toggle title=”Can you help US citizens to become professional traders?” _builder_version=”3.0.106″ border_style=”solid”]We can assist traders from every country, including the US![/et_pb_toggle][et_pb_toggle title=”Do you offer trade copying or signals?” _builder_version=”3.0.106″ border_style=”solid”]We do offer trading signals or even copying from time to time.

We do not provide this directly but very often we work with our most successful community traders to offer you the opportunity to follow a profitable trader.

When a profitable trader can demonstrate their success we will conduct a promotion and invite anyone interested to follow along with their trades.

This is usually structured as a premium service and the promotion of it is generally time limited. If you’re already a ForexSource tribe member look out for the emails!

If you haven’t joined us yet, please register your details now.[/et_pb_toggle][/et_pb_column][/et_pb_row][/et_pb_section]