foreign currency trading| learn to trade forex

Foreign currency trading

Forex currency trading system

Being a $2 trillion a year industry many people want to have a share of this cake, it’s not as easy as they think and they can lose some hard money trying. We see the foreign currency trading, as a money maker only if you can risk some of your money accept losing this money. There is no course or book to explain the foreign currency trading and make you understand it better and a sure you how to make money of it. You need however to understand some principals, strategies and modules to know exactly how to do the safest way.

Few have made a fortune using Forex trading system, you can call it luck, but it’s a fact. You can make a fortune with Forex if you can trade wisely, and by that I mean seeing the full picture and use your head not emotions. Research and keep an eye on the financial news, and you can end up making more than $1000 a day.

Many traders love the idea of currency trading, they have unlimited gains and limited risk – sounds great in theory, it’s true because you can put a $500 to risk, those $500 can earn you up to $2000 in one deal and can make more if you made more successful deals. And you only risking the $500 so the maximum lose will be $500. But in reality you can lose the 500 and get other 500 to start a new deal. It’s exactly as gambling. However you can open an account with only 500 and make a deal with $100 each.

With this report we want you to understand currency trading and minimize your loses and maximize you profits. You cannot talk about profits if you cannot accept loses.

Here we will give a few strategies we think can help you make money the safest way.

But first let’s explain the currency trading concept:

The offline foreign currency trading is simple, you have dollars and want to buy euro, so you go to some broker or the bank and buy euro, in this case you need to pay a commission to the broker so you will pay higher value of the real value. Most of the time you will pay at the estimated closing trade value.

Now the online foreign currency trading like the Forex trading, it’s a lot deferent. You will open an account with your own currency and start trading on the changes. You are not buying or selling. Although there is a buy and sell order but its only to determine the direction you are bidding on.

For example, you have opened an account with easy forex with $500 and you start the first deal buying dollars and selling euro, but you did not buy euro first. It’s O.K because you are not buying dollars in real you are biding that the dollar will be in higher value related to the euro. So you are bidding at the change of the currency value.

Let’s say that when you opened your account the ERO/USD (this writing indicate the value of the euro ERO in us dollars USD) was 1.255 (which means 1 euro is worth 1.255 dollars) and you knew that the US dollar will be stronger soon so you sell euro and bid on the 1.200 value. If you were bidding with the full $500 you can earn $275 if the value of the euro reached the 1.200 dollars.

Before giving you our strategies to make money with Forex we want to explain some modules:

Forex signals

Forex signals are the estimated changes for the currency, there are hundreds of signals providers, who claims that they can provide accurate estimating signals.

Personally I think most of the signal providers are fraud, if they really can give accurate signals that mean they can make millions of dollars from those signals and they will not be in need to selling their signals.

After trying some of the signal providers we found out that they can read the changes accurately and provide good estimation of the currency changes.

Most of those signal providers give you three types of strategies:

1. Internal strategy, which means the signals of the changes per short time period (few minutes or hours).

2. Daily strategy, which means the changes in days

3. Weekly strategy that give the estimated signals after one week or more.

From our own experience with Forex trading, we use signal providers such as Forex Auto Money to read the daily signals and the weekly signals only to help us determine the internal strategy.

If you want to make money (the safest way) with forex you need to focus on the internal strategy but having the daily and weekly signals can help you have the full picture of the changes and thus selling and buying at the right time with the right signal.

Here is an example.

The graph in the picture show the change in the ERU/USD in 10 days

Lets read the graph to understand what happens, it was 1.2697 (the green line) climbing up to reach 1.3080. let’s say you were at the starting point and you knew it will climb up so you need to buy (ERU/USD) and you keep following the graph and are earning money (with this kind of change you can make a lot of money), and when it reaches the point 1.2955, it stopped and changed direction to drop down, now you are in dilemma; it can go down a little and then keep going up, or it can go down and keep going down (look what happens in 19 Nov on the graph).

The best strategy is to stop and take your profits.

Here the daily and weekly signals can help us determine the estimated direction of the graph.

To make money with forex we recommend only the internal strategies, even though the daily and weekly strategies can bring you better profits (500$ can make you up to 1500$ in profits in one day) but it also can mean losing all the money (losing the $500).

Forex brokers

Forex brokerage come to help you ease the process of trading, you can however trade directly through the easy forex and that will be our recommendation, but also you can use brokers to help you minimize your profits and lose.

There are two factors with currency trading.

Take profit. Which mean to automatically close the deal when the currency reaches some BID Price and take the profits earned at that point.

Stop lose, which is the same as take profit but from the losing direction.

Here is an example to explain take profit and stop lose:

We have placed a bid at 1.2697 (the green line) we think it will go up so our take profit we set to be at 1.2800 (the upper red line). And our stop lose we set at 1.2500 (the lower red line). Now if the Bid Price goes up and reaches the take profit point (1.2800) our deal will be closed and we will take the profit earned from this deal. But if it changed direction and went down to reach the stop lose point (1.2500) also the deal will be closed and we will lose some of our money.

In the real forex account you can determine the take profit but the stop lose will be the amount of money you margin to risk. So if you put a 100$ you cannot stop lose at 50$, you are risking the whole 100$.

That’s why brokers are good for. You can easily determine the take profit and stop lose points and make small profits from small changes. It only makes the process easier, but also will cost you more. The PIP is bigger, which means if you are bidding on 1.2690 with real forex to buy your deal will open in 1.2691 (the 1 in the end is the pips), but with brokers it could be (1.2694) or even higher which mean you will start the deal losing up to 4 pips. And when you are bidding in small changes with bigger amount of money it can cost you a lot.

Signals Providers such as Forex Auto money also provide some king of calculator to calculate take profit and stop lose rate.

Here is what you have waiting for:

What is the safest strategy to make money with Forex?

There are 2 terms in gambling

The bigger winning potential and the better chance of winning, and they are never the same not in gambling neither in Forex trading.

What is the bigger winning potential with forex?

It’s the long term trading (daily or weekly strategy) where the changes can be huge, in the graph if we opened a deal at NOV 12 at a rate of 1.2420 and closed the deal in Nov 25 at the rate of 1.3080 it will be the maximum potential of earning in the giving 10 days which is 0.0660, that’s mean if your deal was $100 you could earn up to $660 in one week. It could happen but the odds are very low.

Let’s take a look at this diagram for a moment

Let’s say you have placed a bid at Nov 18 (the green line) bidding on the increase value, and it went up but you did not close the deal when it reached the red line, because you thought it will go higher, but instead it went lower and dropped even lower than the rate you started, and when it reached the lower red line you have lost all the money. What happens here is greed, you wanted more and ended up with nothing.

The second term was better chance of winning.

This is my strategy of making money with forex, it’s easy it could be done but it require focus and spending some time following the charts.

In the graph above you can see the changes of the currency rate in one day; here we can see how it goes up and down. If we can open a deal at any time when we see that it’s going up we buy, then we wait until it reaches a point of changing direction then we close the deal no matter how much we have earned, we don’t want more we simply close the deal and wait to see what is the next direction; if we notice that it will drop down then we sell and also wait until it reaches an amount of profits or a point it stops and then close the deal a gain.

Bidding on small changes, give yourself a maximum amount of losing an a satisfied amount of earning.

Let`s say we open a deal with $500, and we determine that the maximum lose will be $20 and the satisfied earning will be $20 also. Then we need to close the deal when our losing reach the $20 without hopping that it will change course, but when our earning reach the $20 and it keep rising we can wait until it stops and change direction.

To do so you need to work directly with easy-forex, you can download the platform software (we use and recommend the MetaTrader 4 go to LiteForex and download this software to use it to follow the changes clearly).

Tip: you can open a demo account with liteForex and practices with currency trading.

Automated Forex trading

We know that in any popular market such as forex so many products will launch to have some profit from people who are interested in this market. And that’s why you will find hundreds of forex products out there. Most of these products are worthless and useless however there a few products that could be efficient and can help you make money or increase your earning from forex trading.

One of those products is FapTurbo

FapTurbo is software that runs on your computers and connects to your forex account, and make the trading for you; it’s what we call automated forex trading software.

Advantages

It uses a statistics prediction of the changes on forex pairs of currencies. We know that statistics can be wrong, but the odds are that statistics and predictions can be right to most pairs. And to take advantages we need to bid on as much pairs as possible and monitor those changes.

And as a human we can monitor up to 4 currency pairs at a time, but this system can bid on as much as we want it to, and if the prediction are wrong for some we can benefit from the other right ones.

It also bid on the same pair of currencies on both directions, that mean if the signals say that the pair of currency will drop few but at the end of an hour or two it will change direction then we could make profit from the drop and sell when it change direction and the other bid will make profit from the new direction.

Its automated system you will need only to set the parameters and run it, you don’t need to keep monitor the graphs and the software.

It can easily double your starting money, make small profits each and every day.

Disadvantage

It’s not that simple to understand at first, you need to invest some time to learn how it work before you set it up. Some users mad a bad reviews on it because it’s a little bit difficult to learn it, and some other had written a user guide to sell for this software.

You don’t need any user guide, they have a great support team who can help you on the process you just need to contact them and ask all of your questions. They will gladly help you.

It need a larger sum of money to start your trading, to use it effectively you will need to start your trading with at least a $1000. This way you can open more than 10 trades and insure profits.

FapTurbo is very recommended if you are serious about forex trading we can easily rank this software as the best forex software on the market.

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