Make Money Trading Forex.
How to earn a living trading Forex from home.
So, you want to make a fortune dealing the Forex markets, with no investment, little experience or knowledge, and in your spare time? This sound too good to be true. But this is exactly what you can expect, and I'll show you exactly how. This is not a book on technical analyses, or high-level training on how graphs and indicators are calculated. If you need this level of information, just do an Internet search for 'forex' and browse through the millions of options listed. No, for one thing I've kept this intentionally short and precise so as to not waste your time. My intention here is to explain exactly what I'm doing to make this type of money, and how you too can do the same. That's all. Any extra knowledge will only be padding, and as I said, this is freely available to those who are interested. OK, let's get started. I've built this system as a simple 3-step process. Step 1 – Download the spreadsheet Step 2 – Prepare the software Step 3 – Start Trading. That's it. Too easy – let's see.
Step 1 – Download the spreadsheet
I've prepared a simple spreadsheet to monitor your progress over the next 12 months. Since this is a long-term process, comprised of hundreds of tiny little baby steps, it's vital to keep track of exactly where you are in the process at all times. Always keep your target firmly in view. Discipline is probably the most important ability to develop in this process, and updating the spreadsheet daily will help instill this discipline. Click here for the OpenOffice version: http://forex.combro.com/forex_system.ods For those of you still stuck with Excel, use this version: http://forex.combro.com/forex_system.xls If you don't have a good Spreadsheet program, please download OpenOffice for free at: http://www.openoffice.org The spreadsheet chronicles 52 weeks of trade (Mon to Fri) starting with an initial investment of $5 (you get this FREE – I'll explain later) and growing this at 5% per day. It's vitally important that you NEVER look at your profit in dollars, but as a percentage profit. It only becomes money once you draw it. Till then it's just trading stock. Making 20c or 30c in a day might not feel like much, but if you see it as 5% - that's massive. That's about as much as a bank will give you for a whole year. Open the spreadsheet and at the top, on the right side of the header line, there's an item “Target Value” this is where you'll end up at the end of the year if you follow the course outlined here. As your daily incomes fluctuate you can immediately see the effect of your day's trade on your eventual outcome. It's a good motivator. The only fields you need to update are the “Close” for every day, and the “Start” every time you make an investment or draw money (or consider drawing – just change the start for the following day by deducting what you want to draw. You'll be shocked to see how profound an effect a $100 drawing could have when projected over 12 months). The “Close” fields are pre-set to inflate at 5% per day, so just select the relevant box at the end of every day and type over what's there with your closing balance for that day. The spreadsheet will automatically work out your actual profit for the day. The idea is to get your actual profit equal to or exceeding your target profit for the day. Only worry about 1 day at a time and the big picture will sort itself out. That's really all you need to focus on every day. Just making that little 5% profit. I know you hear stories and tales every week about some guy who made a million dollars in a week, or 3 million in a single trade. Ignore them all. We're looking for consistent small profits that add up over a relatively short time. In the beginning this is only 25c in a day, and it may be difficult to explain to your wife or husband, or work colleagues why on earth you'd waste your time for 25c, but remember – this is not 25c, it's a 5% growth in the value of your business. That's good in anyone's book.
Step 2 – Prepare the software
So now that you've got your spreadsheet up and you understand where we're going, let's get and set up the tools to enable this. First of all, click this link: http://www.marketiva.com/?gid=5697 The first thing you'll need to do at this site is click on “Open an Account” labeled 1 on the image below. Later you'll click on 2 - “Get Streamster” - this is the software you'll use to perform your forex trades.
After clicking “Open an Account” you'll see a form with the usual questions: Name, address, username, password, etc, etc. Simply complete this form and follow the instructions on the site. Within 5 minutes you'll have a Marketiva account. On opening your new account they'll give you $5 to start with. As we've seen on the spreadsheet this is all you need to make a fortune. Now the next step is to download and install the software you'll need to trade with. Click on No. 2 - “Get Streamster” Follow the instructions on the page that comes up. They're quite comprehensive and need no further input from me. Install the program and start her up. Log in with the Username and Password you've just created and you're in. This is your Forex office for the next 12 months.
Step 3 – Start Trading.
Finally, we're ready to start trading. Please don't feel disappointed. This is going to seem boring and slow, but it will get results. Profit is not made in the sell, but in the buy. This is not my wisdom, you'll see this line often in other texts. This is because it's absolutely relevant and true. Let me repeat this: Profit is not made in the sell, but in the buy. If you know when to buy, you'll show consistent profits. No matter how greedy you get, or how certain you are that a trend is going to turn. Overcome your temptation and buy only when the system tells you to. Then only close when the software closes on a stop-loss – I'll explain shortly. But this is very important to understand right now. Don't be tempted to trade prematurely. Don't get greedy. Don't get impatient and trade before the system says so. Your screen should look something similar to this:
The red dots were added by me and indicate confirmations of buy/sell signals. This method of trading is extremely easy to understand and follow. Use the standard graphs without any extra indicators, these are just confusing. Right-click anywhere in the open space on the graph, and hover over “Instrument” on the menu. Then select EUR/USD from the list that opens. EUR/USD is the best pair to use for our purposes. This is the exchange rate between the Euro and the US Dollar. It always has masses of activity and is actively traded 24 hours a day. Because it is so heavily traded it tends to be an honest representation of the market's valuation and tends not to bounce erratically like many other pairs. What this means is that the EUR/USD pair is more likely to hold a trend for a few hours or days, which is what we need.
Use the standard graph, with no extra indicators. The black line that's hopping up and down at sharp angles is the price graph. There will be another two lines, roughly following the price, just smoother. The lighter blue line is the short moving average, and the darker, much smoother line is the long moving average. We are going to use the long moving average. I usually change it's color to navy blue because this is easier for me to see. This is easy to do, simply left-click on the line and change the color. Right click on an open space of the graph, hover over “Timescale” and select “hourly”. Right click on an open space of the graph, hover over “Zoom” and make sure it's on “50%”. Now we're ready to start trading. Very often when the price crosses the long moving average it continues on it's trend for long enough to lock in a reasonable profit. That's it. That's my whole secret to forex trading. Locking in the profit is the next trick so let's now look at the trade. Here's the battle-plan. We will not be impatient. We will not be greedy. We will not lose money unnecessarily. We will lock in profits as often as possible, and limit losses. First we wait. Watch the graph, perhaps for a few hours, perhaps for days. If you trade too early the market will turn in unpredictable ways and you will loose very often. Let me repeat – you will loose. What you are looking for is the moment when the price crosses the long moving average. These are marked as 1 – 9 in the image above. Sometimes these signals are false, and she turns immediately (eg. 1, and 2). That's fine, it's just part of the game. The idea is to follow the trend and place your order at the time when the lines cross. If the price is rising then buy, if the price is falling then sell. The value of the order will always be 50% of your cash balance. So if you have $5 in your account then the value of your order will be $2.50. The orders are placed in cents, so the amount you enter would be 250. Here's how: Right click on an open space of the graph and select “Buy/Sell...”. It's the last item on the menu. A box like this will open:
In the space marked “Quantity” enter a value, in cents, equal to half your cash balance. In the “Buy / Sell” box select weather it's a buy or a sell order. I made the mistake of forgetting about this a few times in the beginning, so don't feel too bad if this happens to you. That's all you need to worry about for now. Click “OK” Congratulations. You've just made your first trade. Next you need to set a Stop-Loss. This is exactly what it sounds like, it stops your loss. You'll see your new trade listed under the “Positions” tab below the graph and to the right. Left-click anywhere on the trade listing and an option box will appear. Select “Change” and a box like this will open:
Set you Stop-loss 20pips off your opening price. If you made a buy order, then set your Stop-loss at 20pips below your opening. If you made a sell order, then set your Stop-loss at 20pips above your opening. What this does is set your maximum loss at 20 pips. If the price turns immediately and crosses the long average again then close your order and open a new one in the opposite direction. This is just part of the game. If she behaves herself and continues the trend then you should soon be in profit. This is where you start locking in your profit. Under the column “Points” you'll see how many pips of profit or loss you're making on the trade. When you see a profit of 10 points then move your Stop-loss 10 points closer to your Opening price. At a profit of 20points move the Stop-loss up by another 10 pips so your Stop-loss is now the same as your Opening price. Now you're safe. If the trend turns then you'll close on your Opening and loose nothing. Continue this process to lock in profits. Every time your profits increase by 10pips, move your Stop-loss 10pips closer to the price. When the trend turns, and it will, the trade will close on your Stop-loss and cash out your profits. Sometimes a false trend is indicated (like 1 and 2 on the graph above). Usually the trends are quite moderate and allow for only 50 or 60 pips (3 – 8 on the graph above), and approximately twice a month you get an absolute beaut (like 9 on the graph above) that just breaks the ceiling and keeps on going. All together these need only average a growth of 5% per day. Once the trade closes don't chase the trend any further. Simply wait for the lines to cross again and start the whole process over. That's it. Simply follow this easy system to the letter and you will see massive returns.
Why am I doing this?
As you probably read in the advert that directed you to this document, I'm not asking anything from you at all. This is 100% true. I get a commission from Marketiva for every trade you complete. In order for this little commission to be worth my while, I've got to get you to the level where you're doing weekly $100,000 trades. That's why I'm not asking you to invest $100 or $200, or pay to download this system. Peanuts have no value to me. My job is to assist you, and work with you, and get you to the point where you're playing with real big money, and keep on doing so. My experience is that when people play with other people's money, they're much more likely to diligently concentrate on the system and follow it through. When you're playing with your own money, you're more likely to get nervous and greedy. This is why I'd rather that you not invest any of your own money. Unless you are in the lucky position to be able to write the investment off and not ever think about it again. If you want, feel free to play with the spreadsheet attached and see how a little $1,000 investment will affect your earnings. But, I say this again, if you need the money for any reason at all, if you're going to miss it at all, if you need to consider this at all, then simply don't do it. Just start and grow your FREE $5 as I've shown you. Do not invest money you might miss – this will seriously affect your psychological approach to the system and will cost you millions (I'm not joking – millions) in the long run. Good luck.