Forex Trading Strategy
|TweetHow I Made My First $10,000 Online With No Customers And No Products.
Forex trading is indeed an ideal business. No customers to worry about. Just learn how to do it right and you are ready to start making your money. You hear me right. You have to invest time to learn how to do this right. You don’t have to sell products or recruit anyone to make money. Your income here depend solely on how you can emulate what I do, or what other successful forex traders do.
After my forex trading training, I started trading live. I made my first $10,000 a month in February 2009. I started January with a small live account of $202. Made some good profit and added another $300. By the end of January 2009, my account balance was $2150 from $502. Not bad. I used the same strategy as mentioned below in February. Febrary starting balance was $2150. By the end of February my account balance was $12,666. The rest as they say is history.
If you don’t know anything about forex, I will be glad to guide you, especially to avoid fraud out there on the internet. So what can you do get started.
- Step 1: The very first thing to do, is to do a research on forex trading. However, you will be overwhelmed by the share amount of information out there on the internet. So here is what I will do. I know you don’t know anything right now about a demo account. However, Open A free demo account. You will begin to learn faster from this as you learn the theory. Start playing with your demo account. This demo account will give you access to free education as well. Free videos to explain to you how forex works.
- Step 2: Forex Education. If you are absolutely blank as concerning forex, then I will recommend you go to this website babypips.com. On this site, just follow the forex education from kinder garten level to college. Its free and well laid out. Baby pips is mainly theory. If you would like a video instead then I would recommend “Beginning Traders Forex Trading Course”
Tips When you take this course, just focus on completing it. You will avoid information overload, spam and confusion. - Step 3: Search for a mentor. Someone who is trading for a living and making money trading forex daily or next to daily. This can be difficult. So at this stage, you may have seen the potential for wealth creation that forex presence. You can continue to demo trade for free as you search. A good mentor will help you shorten your forex training and you will be able to learn a lot as you watch your mentor trade live. Your mentor will help with their strategy and you will trade with them. There are quite a few really good traders online. You might want to consider Kishore M or Shirley Hudson
With these three steps, you will be quickly on your way to start trading forex successfully. I have below a forex trading strategy that I use to trade on my own. This strategy is what I used to trade my account from $502 to $12,666 in 2 months. First from $502 to $2150 and then from $2150 to $12,666. You can do the same. I watch a lady turn $1000 into $78000 in two months. Anything is possible with forex trading. You can listen to her here. There is virtually no limit with forex trading. The sky is the limit.
My Free Forex Trading Strategy
My forex trading strategy help me to take my trading account of $502 to $12,666 in just two months. Will this system work for you? It will if you are disciplined enough to stick to the rules. You can use this rules today and start making money in forex. If you must be prepared intellectually and psychologically to trade any market. Reading the afore mentioned books will help prepare you for trading.
This strategy work on any time frame. Just apply the rules the same.
What to plot on your chart. I like trading on the 1 hour chart and daily charts. Look at the chart below of GBP/USD
Simple Moving Average 13
Parabolic Sar
MACD
Buy Signal
Entry: Price must be above MA 13 and Parabolic Sar change from above price to below price
Exit, Parabolic Sar change from below to above price and price close below MA 13
Sell Signal
Entry: Price must be below MA 13 and Parabolic Sar change from below to above price
Exit: Parabolice Sar change from above to below price and price close above MA 13
See the chart below : The MACD is to help you confirm your trade as it turns upward in
the case of Buy Signal, or downwards in the case of Sell Signal.
Go make some money trading.
forex trading strategy to make you money
This forex trading strategy is very simple. Be sure to read these books Bird Watching In Lion Country and Forex Nitty Gritty.
You will be armed with the right knowledge to face the forex markets and over come the initial shock of losses that you will incure. But if you can stick to the rules of this simple trading system, you should be fine.
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Comments
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