- How To Make Profit In Forex Trading
- What Is Take Profit And Stop Loss In Forex?
- Is Forex Trading Profitable? Beginner’s Guide For November 2023
How To Make Profit In Forex Trading – Are your results from forex trading not good? Are you stuck making little profit or even losing money? Don’t worry, you are not alone. Most traders struggle to make serious profits, and many of them actually lose money.
But what if there was a way to turn things around and take your trading to the next level? That’s really amazing, right?
How To Make Profit In Forex Trading
Well, what if I told you there are five different ways to increase your profits and inject new life into your trading! Shocking!
Secrets Of Profitable Forex Trading
None of my forex trading success secrets are difficult to understand. You don’t have to be a rocket scientist or anything like that. I’ll take you through my 10 FX Profits™ framework, and you’ll see that the beauty of it is how simple it is.
Say, for example, that you are a trader who has made moderate success from a small forex portfolio or a demo account. As you already know, the problem you will face is to consistently make even 10% profit, but if your trading account is small, you are stuck making only a few bucks a month. And to get there, you need to devote a lot of time and energy.
If you start trading with $1,000 and you can reliably grow it by 10% every month, that’s great. You can double your account in one year. But it’s only $100 a month. Not exactly the kind of income that can make you quit your day job.
But if you start managing other accounts with your 10% profit, you can quickly earn some real dough.
What Is Take Profit And Stop Loss In Forex?
Let’s say you manage 10 accounts, all worth $5,000 – that’s a nice $50,000 fund to work with.
Suddenly your 10% profit is $5,000 a month. Even if you only share 20% of that – the amount you save, that’s still $1,000 a month! Ten times more than before.
All you have to do is clone your trading system to several MetaTrader platforms using the FX Account Cloning™ setup, and you can keep doing what you’re doing now but make more money!
In the picture below, you can see how I made $71k profit for a client a few years ago when I used to manage accounts for other people.
Make Money With Forex Trading: 10 Tips To Build A Bullet Proof Portfolio
There is another smart way of increasing your income from trading if you have a working system but are stuck at the bottom of the ladder. Statistics tell us that most traders work with accounts of $1,000 or less.
You may not realize it now, but your potential is HUGE!! If you manage to generate consistent profits, there are no limits to how high you can get.
Traders who regularly and reliably earn 10% are like gold dust to Forex prop firms.
A prop firm is a company that allows traders to use their money to make trades. In return, they let you keep a portion of what you earn for them (usually at least 60%). A trader who can earn 10% returns over and over again is likely to sail through the evaluation process at a forex prop firm.
How To Make Money In Forex Without Trading?
Once you’re in, you can start to show that your trading system is reliable, and they’ll happily start giving you bigger and bigger accounts to trade with. Some prop firms claim they fund accounts up to $5 million!
But let’s say you start with a funded account of $200,000. If you can get funded at one prop firm, you can do it at others. The goal of the Forex Income Multiplier™ framework is to fund 10 Forex prop firms and move up the ladder to earn $200,000 in all of them. That builds up to $2,000,000 in funds that you manage, and now your 10% return is bringing in $200,000 a month. If you keep 60% of that, your monthly income is now $120,000 instead of $100. Say bye-bye to work that day!
Many traders use forex robots to boost their trades and profits, but the problem is that forex robot licenses can be expensive. A forex robot locked to a trading account can easily cost $500 for just one account, but some are over $1,000 to $5,000.
But with the Unlock Any Forex Robot™ framework, all you have to do is club with some friends, and you can lower that price. Even down to zero, well, at least for you 🙂
Easy Ways To Start Profitable Forex Trading For Beginners
Sounds impossible, doesn’t it? But here’s the thing, it’s literally as simple as going out for dinner with some friends.
Imagine you’re out with four other friends, and you want to split the bill. The obvious option is to split evenly, like we do all the time when we hang out with our friends. Now, if you do that with a forex robot, the license costs $500 down to $100 each. That’s pretty good right there.
I will find a way for us to share a forex robot in five ways. You just buy a license
“? Then they pay $125 each for the trading robot license, and you pay nothing! For them, that’s a significant savings of $500, and for you, it’s the perfect way to get access to a forex robot with no upfront cost.
Make Money In Forex Trading
All you have to do is learn how to use the Unlock Any Forex Robot™ framework so you can share trades from that Forex robot with all your friend’s accounts, and you’re good to go!
Look, we all know the sad fact that most traders lose money. I even mentioned it at the beginning of this blog post. But believe it or not, there is at least one way to turn that depressing fact to your advantage.
The more seasoned traders reading this will already know what I’m talking about – it’s called reverse trading. It’s not easy to do, but there is a simple way to make it work. I call it the Fail 2 Gain™ framework, and the idea behind it is pretty easy to understand. If you can only make the opposite moves of a losing trader, you will end up with winning trades.
Now, I don’t want to make this personal so let’s just say you have a forex robot that regularly and consistently makes losing trades. Maybe it was working well when you bought it, but over time it just got worse as the market moved. That’s a pretty typical experience.
Is Forex Trading Profitable? Beginner’s Guide For November 2023
But as most traders already know, you can’t reverse a losing trader without first taking care of things like position sizes, removing stops, and understanding double spreads.
Step 1 is to set up your missing robot on a demo account. That is now your master account. You’ll need to set up a second account that takes trades from the master and reverses them – that’s Step 2. Step 3 is linking the accounts together, and Step 4 is setting up Local Trade Copier™ software using a unique configuration to reverse trades and remove stops.
If you talk to any experienced forex trader, they will tell you that a big part of their secret to success is diversification. Now, most investors know how it works. You buy some gold, some stocks, some EFTs, some bonds… blah blah. That’s boring! Everyone knows that. What I’m talking about here is diversifying your trading strategies. Now that’s a new one, right?
So, how can you do that? Most traders struggle to perfect a strategy, but you can quickly get a step ahead by combining a set of trading strategies and making them work for you as a team. That way, if one or two systems don’t bring in the profits you expect, others can cover them.
How To Make Money With Gold Forex Trading
For example, you might be following MQL5 Signals, a few traders from ZuluTrade, a couple from MyFXBook Autotrade, and you might even have a forex robot or two thrown into the mix. If you put all of that together, you can have a set of ten accounts that make up your portfolio of trading strategies.
Now, if you can feed them into one account, all with different amounts allocated to them, you can have a trading account set up with a broker that you trust, that makes trades according to ten different strategies. And if any of them stop working for you for any reason, you can simply exchange them. That’s something you can do quickly and without being a coding expert – all you have to do is follow my Many-To-One Portfolio™ framework.
So there you are, guys. Those are my 5 secret ways to increase your forex income. I just laid them out for you for free, and – in case that wasn’t enough – you can use any of them in either MetaTrader 4 or MetaTrader 5.
So I’m just one
Minimum Capital Required To Start Day Trading Forex
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