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Dragobrat skiing resort

Friends, if you have never been in mountains in winter, be sure to plan a trip to Dragobrat, a skiing resort in Ukraine. It offers a variety of pistes either for training or freeriding. Even if you are not going to ski or snowboard, the Carpathian Mountains are still worth visiting for their amazing atmosphere. As I promised, I post pictures of the pistes and spectacular scenery of the mountains.

Trading results for January 2015. Profit of 2,074 USD

Here is the already traditional review of trading results for the last month. Not everything went smoothly in January as well. I have already placed a greater focus on fundamental events due to which Forex market was rather volatile – abandon of EUR/CHF floor by SNB, launch of QE by the ECB. As the result, the crosses with CHF were very volatile and the EUR/USD was falling down with almost no reversals.

Lesson 14: Choose right leverage
CategoryFor Beginners

At the request of one of the permanent visitors of my blog, today, I will tell you about leverage and how to choose it when trading on Forex.

Let’s start from the definition.

Leverage provided by a forex broker is the biggest possible ratio of the traded volume to the volume of a trader’s own funds.

For example, if you choose the leverage of 1:1, it means that you will use only your funds. In case you prefer the leverage of 1:100, your broker will give you a credit that exceeds your deposit by 100 times. In other words, if you have deposited $100 you can trade using $10,000!

Beware of swindlers!

Dear friends,

Yesterday, I came across some curious reviews, which contain detailed descriptions of swindling schemes invented by After reading the reviews, I was staggered by audacity of the broker’s personnel and naiveté of their clients. Let me cite one of the claims that seems the most informative to me. 

Hi! I’m Maxim.

I got hooked by this company in October 2014. Previously, they had been annoying me with phone calls. They proposed opening an account with them and making deals by their recommendations. I rejected it for long and finally gave up. On October 5, I deposited $500. My balance almost doubled in a few days. My broker introduced himself as Eduard.

Wolfe Waves (Bill Wolfe)

Wolfe Waves is a book written by Bill Wolfe, a practicing trader. In his book you can find a detailed description of the strategy that suggests using of waves formed during a correctional movement.

The author defines the main idea of this trading method in the following way:

“The theory of my Wave structure is based on a law of physics that for every action there is an equal and opposite reaction. This action/reaction often shows a definite rhythm with extremely valuable projecting capabilities to the trained eye.

Lesson 13: How to invest in InstaForex PAMM projects without paying commission
CategoryFor Beginners


Dear friends, today I’ll tell you a secret how to invest money in a PAMM account without paying any commission to a trader for managing your funds.


Let’s assume you’ve invested $1,000 in a PAMM project called “Ivanov ltd”. The managing trader set a commission rate of 20%. After a while, the trader made a $200 profit. After you request a rollover, you will get $160, and $40 (20%) will go to the trader as a reward for successful trading. Of course, you’ll be happy the latter generated some profit. But from time to time, every investor probably catches him- or herself thinking, when ordering a rollover, that they would rather keep the money to themselves instead of paying the trader. 

Trading results for December 2014. Profit of 503 USD

Well, December is over and now we can sum up the results for 01.12 - 31.12.2014. Almost all expectations for deep correctional move had failed. Nevertheless, the monthly profit totaled 503 USD. Such positive result was possible thanks to trading discipline and money management. Considering that December and January are not traditionally technical months, the decision was made to trade only on one account. Such untechnical period is explained by lower liquidity on the markets during Christmas holidays.  

Lesson 12: PAMM System. History. Pros and Cons
CategoryFor Beginners

When Forex was just starting to gain popularity in post-Soviet states, some retail traders offered money management services to potential investors. The scheme was rather simple. A trader finds an investor, overwhelms him with stories about limitless opportunities of Forex, and if the investor agrees to provide the funding, a trading account is opened in the name of the investor. While the investor remains the holder of the account, all deals are actually conducted by the trader. To some, this type of investment may seem quite transparent: a trader trades, an investor invests, and they share the profits generated by the trader. Unfortunately, the potential benefits of such joint profit making are offset by a number of bitter-reality issues: 

Victory in “North? South? Sideways” contest (12.12.2014)

Yet another victory in the “North? South? Sideways” competition reminded me of the phrase ‘once is chance, twice is coincidence, third time is a pattern’. This amazing contest is held by and is sponsored by InstaForex. Traders can compete in the ability to forecast price dynamics of four trading instruments over a week without risking their funds. It’s quite a difficult task at first, but with the help of technical analysis, you can calculate the chances of hitting targeted levels.

Lesson 11: Obstacles in trading
CategoryFor Beginners

Here are my thoughts about what hinders our trading.

I believe novices as well as experienced traders have three ‘vices’ that hamper their profits.

1. Willing to be in the market

A usual working day of a trader looks like this: they open a platform, look through trading instruments, see no setups in their trading system… and enter the market. After a while, the deal ends with losses and the trader wonders why the hell they entered in the first place.