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 moral obligation to trade forex wisely - forex-trading news tips reports

The moral obligation to trade forex wisely ~ forex-trading news tips reports

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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.

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Your Mother Could Make Money In Forex Trading - forex trading app for ipad

Your Mother Could Make Money In Forex Trading ~ forex trading app for ipad

Your Mother Could Make Money In Forex Trading

The question would be not whether she could but rather would she enter the Forex trading market. The Forex day trading arena is a veritable snake pit ripe for scam artists to bilk money out of unwary investors. On the other hand, it is a forum for educated traders with the correct education, tools, and trading strategy to make a handsome income.

Becoming a successful Forex trader basically comes down to four things;
1) attaining the correct education.
2) using Forex tools which.
3) use your own personal trading strategy.
4) finding the correct Forex broker to fulfill your requirements.

for more information
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Money Flow Index MFI - forex trading demo account free

Money Flow Index MFI ~ forex trading demo account free

Money Flow Index (MFI)

The Money Flow Index measures the amount of money flowing in and out of a security.
It’s a good measure of the strength of money flowing in and out of a security.
It compares “positive money flow” to “negativemoney flow” to create an indicator that can be compared to price in order to identify the strength or weakness of a trend.
- A divergence between price and MFI often signals an imminent reversal of the trend.
- Readings below 20 on the scale are considered oversold (bullish).
- Readings above 80 on the scale are considered overbought (bearish).
When analyzing the MFI the following should be taken into account: divergences between indicator and price movement. If prices increase and MFI falls (or vice versa), the probability of price turning is very high. MFI values higher than 80 and lower than 20 signalizes respectively about potential peak or foundation of the market.

for more information ……………

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How to avoid typical pitfalls and start making more money in your forex trading - forex trading daily news

How to avoid typical pitfalls and start making more money in your forex trading ~ forex trading daily news

Fiorenzo Fontana, a trader and analyst at UBS wrote a very interesting article containing a lot of tips on how to avoid typical pitfalls and start making more money in forex trading.

All of his tips are very interesting and useful. Some of the less known are as follows:

• Trade pairs, not currencies
• Dont place very tight orders
• Use reasonable stop losses
• Increase your leverage in line with your experience and success
• Dont trade during off peak hours
• The best time to trade is when news is released
• If you place a trade and its not working out for you, get out
• Trade in the direction the price is going
• Learn the business before you trade - possibly the most important tip!

In the second part of the article, Fiorenzo gives a number of interesting tips relating to traders behavior and psychology. Again, some of the less known are:

• Focus on your current position(s) and place reasonable stop losses at the time you do the trade
• Focus on one cross at a time
• Dont trust demos - demo trading often causes new traders to learn bad habits. Once you know how your brokers system works, start trading small amounts and only take the risk you can afford to win or lose (new traders - remember that!)
• Stick to your strategy and invest profits on the next trade that matches your long-term goals
• Dont trade if you are bored, unsure or reacting on a whim
• Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker

Arent those tips good? Not too often such good pieces of advice are being given for free... You can read here all tips by Firenzo Fontana on how to avoid the pitfalls and start making more money in your forex trading.

Stan

Technorati tags: forex, forex trading, forex system, forex strategy
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Why has Google Adsense rejected my 27 000 words Blog - forex trading news channel

Why has Google Adsense rejected my 27 000 words Blog ~ forex trading news channel

Someone better take cover. I’m spitting venom today. This article will surely turn me into a deadly snake whose head must be crushed- by Google of course. You the reader, may actually find no reason to harm me- because I’m almost certain that our plight is similar. And in case you do, then you obviously are stuck in a bubble where reality passes you by- holding onto the misconception

that you’ll make money online using blogger.

Maybe I should state from the onset that I’m not in dire need of money as I write this. Nor I’m I in need of any vindication from those in the business of making money online. I was actually idling on the sofa set when I thought of my other now “dormant blog”. Dormant not because I’m yet to start blogging (the blog has 27 articles each containing over 1000 words and records over 100 page views daily) but because Google is just yet to be convinced that my adsense account is ready for activation. And so it seems that I cannot make money online with a 27,000 worded blog.

What does Google really want? Is anyone making money online using blogger? Blogger being a Google brainchild, I would suppose that Google would be at the forefront in offering some form of encouragement to those that actually manage to generate pageviews without a custom domain. I had long thought that making money online was all about pageviews and content. Yet Google seems so much removed from the aspirations of those that use the blogger service and obey its code to the latter. Many sites that provide tips on how to make money online have put a spell upon anybody who blogs using blogger- the common narrative is that there can be no online success in writing for money using blogger unless you go professional by getting a custom domain. Google seems to be covertly sending the same message to anyone attempting to make money online using blogger. The disdain with which Google has treated those trying to make money online using blogger supports this assertion.

When you begin blogging for money, the common mantra is always- content is king. It is a tired phrase repeated by all those sites promoting the idea of how to make money online. So you write in the hope that soon when you’ve gathered enough content you’ll be making money online. You write day and night with all the SEO requirements in mind. You then apply for an adsense account- and that’s the point at which the reality sinks in. you won’t make money online using blogger. Google will never activate your adsense account if you are using blogger no matter the content size on your blog.  Google has turned the rider, ‘get a custom domain to make money online’ into a powerful sad reality; all with its contempt towards those using its service in the honest belief that it’s all they need to make money online.

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