- How To Make Money In Forex Trading
- How To Earn Money In Forex Trading?
- Strategies To Make Money Through Forex Trading In Kenya 
- Can You Make Money Trading Forex?
How To Make Money In Forex Trading – How to 10X Forex Profits without increasing risk and even make money trading on a demo account
Many Forex traders know that they can make decent money, but most do not have enough capital to start their own trading business. The 10X FX Profit™ framework is perfect for those who want to make more money without risking too much of their capital. It is the easiest way to earn a decent income with forex trading if you do not have enough money, but you know how to trade profitably.
How To Make Money In Forex Trading
The 10X FX Profit™ framework is a simple yet powerful system that allows you to manage multiple accounts for friends, clients or family members, make money for them on autopilot and take a 20% share of the profits as a fee. In this way, you will not only be able to increase your income by ten times or more, but also help others realize their financial dreams at the same time!
How To Earn Money In Forex Trading?
Before we start, here’s my story quickly so you know how I got to where I am today.
It wasn’t until 2008 that I discovered forex trading and as soon as I did, I was sure that I would become a millionaire in no time! We’ve all been there, right?
Of course, it didn’t turn out that way. I had to go through those beginner problems where everything seems to go wrong no matter what you do.
You go long on a currency pair and the price starts to go down, so you go short on it instead, but the price immediately rises. It still makes me laugh to look back on those days and remember all the noob mistakes I made. But definitely, what I learned quickly is that you don’t become a millionaire just because you discovered forex trading.
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When I came across MetaTrader 4 in 2009, I discovered that I could pretty quickly put my coding skills to work creating hundreds of EAs and indicators for myself and my clients.
Around that time, I managed to create a profitable trading strategy that I called Daily-F and even doubled my demo account in just nine months. Because it was only a demo account, I didn’t make any money for myself, but I did make a lot of money for other people – and yes, I got some of that too.
So even though my demo account made zero real dollars, I got a 20% share of the profits from this client, which works out to $14,000.
At the same time, I was also trading for many smaller accounts and making hundreds of dollars a month from it because, at one point, more than a hundred people shadowed my trades.
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I’ve told this whole story in my book, so if you’re interested in reading about it, head over to Amazon and search for “How to Start Your Own Forex Signal Service”.
I want to start by sharing this epic quote by Zig Ziglar because it sums up the core concept of this approach. He once said:
“You can get anything you want in life if you just want to help enough other people get what they want”
The point is, if you can help other people, you will reap the rewards. To me, that is a compelling message. I really believe you will go far in forex trading or anything else you do if you can understand it. Also, it hits close to the whole idea behind my 10 FX Profits™ framework.
Can You Make Money Trading Forex?
10 FX Profits™ Framework is about growing trading accounts for other people, not just yourself.
The math behind the 10 FX Profits™ Framework is not that difficult to understand. Let me take you through it quickly so you can get an idea of the basics.
Let’s say you have prepared a profitable trading strategy on your demo forex account. There are many traders out there who are at that stage. You’ve fine-tuned your system, you’ve worked out indicators and timeframes, and your demo account is reliably profitable. But what next?
Most traders get stuck there and even if they start trading a real account with some of their own money, they never make more than a few dollars month to month.
Is It Really Possible Retail Trader To Make Money In The Markets?
Well, let’s say you upgrade your demo account and start trading with a $1,000 account. And say you can regularly increase your account by 10%. By the way, it’s worth taking a minute here to point out that 10% is a great result! If you grow your account by 10% a month, you can double it in a year! Especially if you can do it regularly.
Still, 10% of your $1,000 account is only a hundred dollars. It’s not bad, but it gives you a long way to go before it becomes a high income from your trade. Soon enough, you’ll be asking yourself if all the time, skill, and effort you put into actually crafting your trading strategy is worth it. Is spending hours or days finding and testing the new indicator the best use of your time if your profit at the end of the month is only $100?
Most traders on this journey stop there and find something else to do – they go back to their day jobs. But there is another way.
If you start managing other accounts using your proven 10% approach, you can quickly make serious money.
How Much Do Forex Traders Make A Day In Nigeria
For example, if you manage 10 accounts, all worth $5,000 on average, you suddenly have a $50,000 fund to work with. Suddenly, your 10% is a $5,000 profit at the end of the month. If your share of that is 20%, you have an income of $1,000. It doesn’t matter if you manage 5 accounts, each worth $10,000, or 50 accounts, each worth $2,000, you can make money for all of them, and you will be paid a performance fee in return.
And the beauty of it is that you don’t do anything different than when your income was only $100.
You have multiplied your original profit by 10 times! And that’s not the limit. There is no limit. You can increase your profit by 10X or 100X.
You don’t need to learn new trading skills or develop an entirely new trading strategy. You can use all the knowledge you’ve already learned, but apply it in a new way, and there’s no limit to how high you can take your profits.
Best Useful Forex Trading App That Help You Earn Money
In some countries, you may need a license to manage other people’s money. You can start trading with close family members like brothers and sisters or even your parents and I don’t think you need a license to do that. But like I said, this is not legal advice, so you need to check out the situation in your country or jurisdiction yourself. I want to be 100% open with you about one of the potential obstacles in your way.
If it so happens that managing other people’s money is not legal in your country, or it is a “grey area”, then you will love the Forex Income Multiplier™ Framework, which helps you make tons of money on the same monthly growth of 10 %.
And that’s a good question. The fact is, if you’ve tried to do this manually, you already know it’s impossible. The moment you start placing a trade in one account, you are already too late to click over to another account and open the same trade there. You are already losing money on the other account by being a little late.
If you want to run multiple trades on more than just two accounts and you want to calculate position sizes for all the trades individually because each account has a different size… Well, there’s just no way to do it. It takes too long to do, even on a couple of accounts, and the price difference that opens up will eat into your profits on every trade.
How To Earn Money Online From Forex Trading
If this is your approach to managing multiple accounts, stop immediately. You are wasting your own time and your customers’ time.
The good news is that there is another way. A much better way! I call it the FX Account Cloning™ setup.
You can easily switch your main account and mirror your trades across five, ten, twenty or more client accounts without clicking dozens of Buy or Sell buttons and calculating multiple position sizes under pressure.
So in the following diagram you can see how it works. The main account is in the middle. It is the main account you trade from and it controls the entire network. Surrounding that main account are client accounts that mirror your trades and that you can set up with their position sizes in advance.
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So just in case you still don’t see the benefits of this setup, it allows you to clone your forex profits to many other accounts automatically. It does it almost instantly and it doesn’t even take that long to set up! So now, the profit you earn
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