Three ways to make money as a forex trader - forex trading after news

Three ways to make money as a forex trader ~ forex trading after news

Successful forex trading that turns the making of money online into your sole income generator can widen the opportunities through which forex traders can make money online. Any person with a track record of trading forex successfully can make extra money from a number of avenues whether online or elsewhere. Below is a look at how you can make extra income through the trading of forex online.

1.      You could get hired if you have a proven track record as a forex trader

Anybody with a nice track record as a trader of the forex market has the opportunity of getting hired to trade forex for major institutions such as banks or other financial institutions or even to trade forex on other people’s forex accounts. This possibility works best for those who can make profits through forex with a small capital start up. It certainly shows that they can make more when given a great forex capital investment. To succeed in the trading of forex with a small portfolio means that such a person must have traded using a demo account for a while and has mastered his trading edge and the forex market conditions that determine price movements. The main reason why most forex traders run micro forex accounts is because they are cash strapped. If any trader can move his micro forex trading account to a forex mini account, then such a trader must be considered a success story in the forex market. This is because it is widely accepted that it is so difficult to operate a  forex account with a small portfolio and the odds are normally stark up against those traders operating micro forex accounts in their quest for success.

As a trader operating a micro forex account, you should be disciplined enough before you can successfully see a breakthrough and have major gains in your forex trading account. The discipline may actually lead you into more success because people may even want you to trade for them in which case you will make more money as a forex trader. Whereas you should aim at increasing the size of your own forex account through personal online forex trading so as to make you risk averse, you should also remain disciplined in your trading of the forex market because it is through discipline that your skill can be tracked and you will be able to attract suitors in the process. Armateur traders unable to find success in the markets may contact you to trade for them and you might be able to cash in on commissions from every winning trade.

2.      Forex traders can provide paid up forex tutorials as a way of making extra money

If you believe you are skilled enough as a successful forex trader, your aim should be to teach others how to trade the forex market and double up your portfolio. This you can do after payment of an agreed fee. Conducting forex tutorials  is however not an easy thing to do. Matters are complicated when the student lacks the passion to learn the concepts of  forex trading but would at the same time want to find quick success trading forex online. The bare truth about  forex trading is that it can be learnt for free through the use of the freely available information online. But some newbies are either too lazy to search through the web, or they do not trust the materials they read. Because they can trust you, you should cash in on that and act as a tutor or guide in their attempt to understand more about forex trading. After all, you did a lot of reading yourself before you could make money as a successful trader of the forex market.

3.      You can make money online by trading forex for your own account benefit

The third way through which successful forex traders can make money is by simply trading for their own benefit. Simply maintain a sizable forex account and execute your trades. This is the avenue that most forex traders are using to make money. As a successful forex trader with a large portfolio, the trading of forex is enough to sustain a livelihood.

Now we all know that successful forex trading does not imply having winner trades in a row or never losing in the forex market. Successful forex traders also understand that we might actually have more loser trades but still be profitable and make money in our trading of the forex market. We also know that successful forex trading is not a matter of luck and that hard work is needed before profits can come your way. If you have been successful at making money through forex, why not consider one of the above ways through which you can earn extra income either directly or indirectly in the forex trading business. Who knows, you could simply manage to kill three birds with one stone.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 
Call us today on 0725 050 419 for the best forex trading orientation.

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The best Kenyan times to trade the forex market - daily forex market news and analysis

The best Kenyan times to trade the forex market ~ daily forex market news and analysis

Volatility of a currency pair is the backbone to executing a successful forex trade A currency’s volatility depends largely on the type of currency you trade and the time you trade. Being in Kenya, a forex trader must realize that you don’t just wake up in the morning and execute a trade. Successful forex trading by Kenyans can only be realized if the right time to enter a trade in the online forex market is taken into consideration before executing a trade.

Every Kenyan engaged in the trading of forex should appreciate the need of trading only during the London and New York Sessions.

Below are the best Kenyan times to trade forex in the online market.

London Session-11 am – 8pm

If you are trading the 4 hour chart, by 3 pm the first candlestick would have formed. That is the best Kenyan time to look at your forex market charts if you didn’t execute a trade at 11 am.  The next candlestick will form 4 hours later when the London Session closes.

London and New York Sessions overlap

This happens from 4pm- 8pm Kenyan time and it is arguably the best time to actually enter and exit a trade. The 4 hour forex chart traders have the advantage of enjoying the most volatile hour of trading if they execute their trades at 11am or 3pm and hold on till the overlap begins.

Forex traders can also look to trade at 12am (midnight) Kenyan time, if they are using the 4 hour chart.

New York Close

The late hour forex trade can be executed at 1am Kenyan time at the close of the New York session. This is applicable to forex traders that use the daily chart and hold onto their positions for days. It is the best hour to trade forex by a beginner hoping for quick success.

There you go. You know the best times to trade forex while in Kenya. Make up your mind and decide on the best times for you to trade in the online forex market. For the employed, you’ll probably have to wait until 8pm before you can execute a trade. That does not mean that you cannot check the market at any time of the day. But the best times to trade are when the candlestick formation is complete. This is especially important to the price action forex traders who only trade specific candlesticks.
You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
Call us today on 0725 050 419 for the best forex trading orientation.

More info for The best Kenyan times to trade the forex market ~ daily forex market news and analysis:

Days you Should Never Trade an Inside Bar - forex peace army news trading

Days you Should Never Trade an Inside Bar ~ forex peace army news trading

An inside bar is among the major forex price action trading strategies. The inside bar forms when the low and high of the bar are within the range of the mother bar. The inside bar can be traded in both the 4 hour chart and the daily chart. 

Due to the nature of the inside bar, it is not advisable to trade it on particular days associated with low volatility or little market movement.

1.    Saturdays and Sundays

The first way to avoid trading inside bars that form on weekends is to use an online forex broker that uses the five day chart. If your forex broker uses the seven day chart you need to be careful about the trading signals that form over the weekends. Every trading edge that forms after the New York Close at 5: 00 pm EST on Fridays should be held suspect. A lot of forex brokers actually use the seven day charts and every forex trader must be extra careful not to execute trades on the basis of signals that form on Saturdays or Sundays when the London and New York markets are closed. Any inside bar that forms on Saturdays or Sundays should never be traded because they end up being false signals. They don’t reflect the general mood of the forex market.

2.    International Holidays

Inside bars that form on international holidays should also not be traded.  The forex market is always closed on international holidays such as Easter Monday and Good Friday. Although the online forex market is a 24/7 affair, it does not imply that markets don’t respect holidays. As a matter of fact, the forex brokers, hedge funds, banks and retail traders that contribute to the running of the forex market are humans that must get a rest.  If they are not engaged in forex trading, there is no way the price action strategy will bear good results. Master international holidays and ignore all inside bars that form on such days.

3.    United Kingdom Holidays

If your online forex broker uses the London open forex charts, you must bring yourself to the knowledge of the relevant events in London. List down all the United Kingdom holidays that may affect your success trading the inside bar in the online forex market. Mostly your forex broker will let you know about holidays in their forex reviews. But if you are a forex trader that rarely looks at reviews, then you need to have all the relevant information about the London forex market charts written somewhere. Remember, inside bars can easily lead to loses in the forex market when traded on the wrong days. The trade will turn against you due to your lack of knowledge of when to trade the inside bar successfully.

4.    American Holidays

This applies to all forex traders using the New York close charts. Online forex volatility falls whenever the New York Stock Exchange closes. This happens at daily at 5:00 pm EST. if your broker uses the New York close charts, you must be aware of the relevant trading days in the United States of America. Short of that you will mistakenly trade an inside bar that forms on an American holiday. The consequences will be dire as you will have a losing trade and lose faith in your trading edge and the forex market all together.

Most of the time that our edge turns into a loser is because we’ve rushed into the forex trade and executed a trade without considering whether our trading edge is genuine or not. Trading genuine inside bars in the forex market implies trading only inside bars that form on the right days. Success in the online forex market comes after mastering the what, when and why. Know what to trade, when to trade, and why to trade. In forex, learn how to trade the inside bar only after answering the what, when and how to trade. That way, the online forex market will not be a painful endeavor.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 
Call us today on 0725 050 419 for the best forex trading orientation.

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A simple answer as to why forex traders lose money - forex trading demo for mac

A simple answer as to why forex traders lose money ~ forex trading demo for mac

 There is only one major reason why you did not let that trade run to its logical conclusion- there was no informed reason as to why you entered the trade in the first place. But if the trade you took was based on a logical view of the market and your trading set up, why don’t you let the market play its part? I like saying that you do your best and the markets will do the rest. There are greater advantages when you let the trade set up work itself out. This might of course take days or weeks if you are the kind that trades on the higher timeframes. Before we look at some of those advantages, I would urge any of you without a forex practicin
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