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The Forex Warrior

Updated 1 day ago

Business
Education
Investing
How To
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All Forex. All the Time.

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All Forex. All the Time.

iTunes Ratings

61 Ratings
Average Ratings
57
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0
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Awesome content

By Vio Mejía - Sep 26 2018
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Thank you for sharing the key concepts to become a successful forex trader

Great Advice!

By Brandon Gaille - Jun 04 2018
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Forex Trading is a tricky business to be in. Get the right advice from a seasoned professional!

iTunes Ratings

61 Ratings
Average Ratings
57
2
1
0
1

Awesome content

By Vio Mejía - Sep 26 2018
Read more
Thank you for sharing the key concepts to become a successful forex trader

Great Advice!

By Brandon Gaille - Jun 04 2018
Read more
Forex Trading is a tricky business to be in. Get the right advice from a seasoned professional!

Best weekly hand curated episodes for learning

Cover image of The Forex Warrior

The Forex Warrior

Latest release on Sep 03, 2018

Best weekly hand curated episodes for learning

The Best Episodes Ranked Using User Listens

Updated by OwlTail 1 day ago

Rank #1: Treating Forex Trading as a Business | Ep. 003

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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.” – 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.” – 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

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Don’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!

May 14 2018

20mins

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Rank #2: Why Forex Traders Fail | Ep. 002

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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 Jason Gospodarek:

TheForexWarrior
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Don't forget to subscribe and leave a positive rating and review on iTunes if you enjoyed Why Forex Traders Fail. Thank you for tuning in to The Forex Warrior podcast!

Apr 03 2018

17mins

Play

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Rank #3: Getting Structure to Your Trading | Ep. 004

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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’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.” – 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.” – Dr. Jason Gospodarek

However you choose to learn, there has to be a way that you actually learn through training. It’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’ll also learn about what time you are trading and what you are risking.

To hear Jason’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’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!

May 20 2018

31mins

Play

Rank #4: 7 Tips for Forex Trading Success + My Favorite Pair to Trade! | Ep. 011

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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!

Jul 08 2018

16mins

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Rank #5: 30 Years’ Worth of Forex – Guru Andrew Lockwood | Ep. 010

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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

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Instagram

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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 you for tuning in to The Forex Warrior podcast!

Jul 01 2018

49mins

Play

Rank #6: Forex Technical Analysis | Ep. 005

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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.” – 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.” – Dr. Jason Gospodarek 
To hear the rest of Forex Technical Analysis, download and listen to the episode! Connect with Jason Gospodarek: TheForexWarrior
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Don’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!

May 28 2018

26mins

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Rank #7: 15 Things You Must Know if You Want to Trade the Forex Markets | Ep. 009

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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

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Instagram

YouTube

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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!

Jun 24 2018

18mins

Play

Rank #8: Forex Fundamental Analysis | Ep. 006

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It’s important to know what forex fundamentals are in order to supplement your trading plan; especially if you’re more of a technically related trader. If none of this makes sense to you, just listen in, make some notes and maybe you’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. – Dr. Jason Gospodarek

Dr. Jason doesn’t trade fundamentals only in his forex account, he’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’s not a fundamental trading guru but he’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’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’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 ‘forex economic calendar’ 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

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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!

Jun 03 2018

21mins

Play

Rank #9: Can Automated Forex Trading Make YOU Rich?! | Ep. 013

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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

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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!

Jul 22 2018

14mins

Play

Rank #10: Take Your Forex Trading to the Next Level | Ep. 007

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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

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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!

Jun 10 2018

30mins

Play