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Homemakers’ Comprehensive Guide to Trading Forex Using the Aid of Forex Trading Signal Service

Do you know that more and more homemakers today are trading Forex?

It’s no longer a secret and as a matter of fact, the number of homemakers who later become successful traders is rising fast. Despite the busy days managing everything at home, these homemakers still manage to trade Forex without abandoning their tasks and not only that, these homemakers also contribute enough to the their family financially. This story is not exaggerated at all. It’s pure reality. The good news is, believe it or not it can also be your life story.

Before you can get to their level, you must go through the whole process. Fortunately, you can choose from one of two paths-the difficult way and the wise way. The two scenarios below will help you understand the differences:

Scenario A-the difficult way

Maria is a housewife with two kids. Her husband is the backbone of the family; financially speaking. He takes home a good sum on his check every month and provided his wife and their kids all of their needs. Nonetheless, being so effective and efficient at doing her task, Maria felt that she is having too much free time around the house. As a result, she began searching for something that might be worthwhile to do and found Forex to be the suitable one for this purpose. So she started buying DVDs, home coaching, and even attended online seminars hoping that she would be able to make money consistently. Eventually she ended up spending $5,000 for the whole thing before she even started trading Forex with real account. She diligently practiced everything that she acquired from the resources that she bought. With great discipline, she finally had the confidence to trade using a real account. Maria told her husband that she is ready to trade with real account. Her husband supported her and gave her another $6,750 to open a real account. So she started her Forex trading journey carefully and conservatively because she did not want to waste her husband’s hard earned cash. A month later, her account is already up $500 making a total of $7,250. Her husband and children were very happy about this. The next month, she lost $75 so her total is now $7,175. The month after that, she added another $730 to her account so the new total is $7,905. So far, the money she spent as an investment is $5,000 (in terms of business, this is not classified as expense because you hope to bring more money by spending it) and the amount of money gained for three months is $1,155. All this happened in 6 months-3 months in training and honing her trading skills and 3 months in real trading. She relied on herself to do the trading and managed to do so and more importantly her husband and children are proud of her. It is indeed a great job.

Scenario B-the wise way

Jennifer is a homemaker with two little boys and a daughter. Her husband work from 9 to 5 and he never missed a chance to take additional tasks in order to impress his boss. Meanwhile, Jennifer herself is pretty busy with her three little ones. They are very active around the house and so, Jennifer doesn’t really have that much time to take a break during her hectic time. One day, her friend introduced her to online business and told her that she could make money from the convenience of her home without abandoning her kids. Moreover, her friend told her that she can do this even without any skill or knowledge. Out of curiosity, Jennifer asked them how. Her friend told her that there’s a service that can help her achieve this. Not only that, the service also comes with a learning opportunity. Jennifer spent some time to think about it and convinced herself that she can do this because even though she is busy she yearned to be able to do something to help build her children’s future and take some burden off her husband’s shoulder. So Jennifer talked about it with her husband and he handed her $6,200 because they don’t really have that much cash for this. Jennifer then setup a real Forex trading account with her $5,500 and subscribed to a trading signal service just as her friend told her. She paid $100 for the trading signal service and she get the help of Forex professional to do the most difficult part in trading for one month. She wanted to gradually build her account and don’t want to be reckless and greedy so she traded Forex conservatively. At the end of that month, she managed to bank $520 making her balance $6,020. It’s a good start. And then she paid another $100 for the next’s month’s service. During that month she took home $300 and raises her account balance to $6,320. Not bad. She took another $100 from the $700 that she set aside to pay for trading signal services. This time around, she added $683 and ended up with $7,003. Summing up, Jennifer set aside $700 for the purpose of paying the trading signal service and already spent $300 from it and the amount of money she added to her trading account so far is $1,503. Everything happened in a short period of 3 months and Jennifer is now getting better in her learning and soon she might be able to trade by herself and more importantly she can contribute to the family financially. Great job, Jennifer.

The moral of the story is you can do it on your own and spend a lot more time, effort and money (she needed $5,000 to prepare herself and another $6,750 to fund her real account) or you can cut the time and only prepare almost a half less money ($700 for the purpose of paying monthly subscription fees and $5,500 for the opening a live Forex trading account). Both of them aim to become a proficient Forex trader and needless to say, both of them have the same opportunity. The differences between the two paths are clear. You decide which one to choose. Now, assuming that you choose to go with the wise way, you only have to follow 3 simple steps below:

Step 1: find yourself a trusted Forex trading signal service and pay the subscription fee. This fee will grant you the ability to use their service for the next 30 days (one month).

Step 2: for the most part, you will have to wait for the trading alert to hit your email or cellphone or trading platform. Whenever good trading opportunity emerges, the service will send you a trading signal complete with entry and exit point and also stop loss level in the form of email or text message (SMS) or trade alert. This can be twice a week or even more depending on the market condition. In the mean time, you can browse the website to find trading tutorials and resources so you can learn how to become a successful trader yourself.

Step 3: once you get trading signal you need to enter the orders (open a buy or sell position and the stop loss or take profit level) exactly as written. A trading alert will include where to open a buy or sell position and also where to put a stop loss or take profit level. If the trader(s) from the service sees some changes in the market after you enter the position they will update you with another alert telling what step you need to take. Sometimes the recommendation is to exit the position or to modify your stop loss or take profit levels. This will help secure part or whole profit you have from dropping so you can maximize your profit.

Those are the only things that you need to do. To be bluntly honest, nothing is even near this level of ease and comfort in the Forex trading world. The convenience is why many people use a trading signal service. So, if you are ready to go with this path, there are several tips that can help you maximize the use of the trading signal service:

Some prerequisites before you continue…
Before you can make money or expect to do any analysis you must first familiarize yourself with the new environment. Learn as much as you can about the terms used in the industry and try to understand the basics of how the market works. You don’t have to go too deep just as long as you know how things work. Much of the information you need can be found simply by using Google and enter Forex glossary as the keywords or term. Also, you need to familiarize yourself with the trading platform that is widely used in the Forex world. Meta Trader 4 (often abbreviated as MT4) is no doubt the most popular trading platform in Forex trading. Meta Trader 5 is already on the market but the basic function is the same and MT5 is still not widely used compared to MT4. To familiarize yourself with MT4, you can go to Alpari U.S. (or Alpari UK if you are not a U.S. resident) to register a demo account and download their MT4 platform. The familiarizing phase will usually take about two to three weeks at most.

Make sure you use the same price feed or Forex broker.
It is essential that you use the same price feed that the Forex trading signal service uses. Of course the reason is because there is no central data center that feeds Forex brokers with prices. Other trading market such as the futures market has central data feed/clearing service like CME (Chicago Mercantile Exchange) that acts as the sole price feeders to futures brokers on ES (S&P 500 futures). Thus, you will the same price for ES even though you use different broker. Unfortunately this is non-existent in the Forex market. You will definitely see different price on different broker. The difference might vary from 1 to 5 pips and this is huge. It might not seem huge in the first time but over the time the difference will accumulate to a gigantic amount. If you are trading using a standard account (100K contract size) 1 pip is equal to $10 so 5 pips is equal to $50. Now, if you have a big account and trade 5 standard lots the amount that you will lose can be anywhere from $50 to $250 in a single trade. Suppose that you trade once a week with 5 standard lots the amount that you will lose over a period of 1 year is anywhere from $2,600 ($50×52 weeks) to $13,000 ($250×52 weeks). That’s a lot of money. This is why it’s crucial to use the same Forex broker that the service uses.

Stay close to your computer or cell phone.
This is also important. There are three main delivery methods used by Forex trading signal services: email, text message (SMS) and pop up alert via your trading platform. You can imagine what will happen when you are not near your computer or cell phone, right? Chances are you will miss a good trading opportunity or two. Also, you need to be mindful if you use a laptop or a notebook because there is a chance that your laptop will run out of battery so make sure you plug the cord. A blackout is rare but it is also good if you have a UPS. Sound is also important so you can hear any incoming email or text message. Last but not the least is to make sure to monitor the battery of your cell phone or smart phone’s.

Never doubt a trading alert.
The rule of thumb is to enter a trade when you receive a trade alert. Do not hesitate. Hesitation can lead to procrastination and procrastination can lead to missing trade opportunity. This is why the number one rule when you use a signal service is: never doubt or hesitate to enter a trade recommended to you. One thing that is clear in Forex trading is you never really know for how long a trend will last but you know for sure is the amount of risk that you can take. This is why you should treat every trading opportunity the same no matter how you feel about it. Riding the trend is only possible when you are in the market not outside the market.

Don’t try to modify a trading alert/signal.
This is the one subject often overlooked. You should never try to modify the trading signal. The signal comes from trader’s analysis and you might not understand his method of analysis and therefore, you should not attempt modifying the signal. When you receive a trading alert that recommends you to buy EUR/USD as 1.3000 it means you should buy at the exact price. Every pip is important because there are considerations behind every trading signal such as trading technique, risk levels, the currency pair’s unique behavior and current market condition. Thus, modifying any element in the trading signal will affect the trade outcome. That is why it is better to enter the trade just as recommended and leave the trade unless the trader update you with some changes due to market condition. The only time you can modify the entry or exit order is when you already understand the trader’s trading method.

How to measure the trading performance?
A good Forex trading signal service can deliver anywhere from 5% to 30% per month. Those figures are the average and therefore, the actual result will vary depending on your risk tolerance. If you are a risk taker, you might gain more but there is also a chance to lose more and if you are conservative trader, you will obviously gain less with reduced chance of losing. One thing you need to avoid is jumping from one trading signal service to another trading signal service. There is really no guarantee that the other trading signal service will perform better. High risk always equals high reward. The one thing that you should seek out in this business is consistency. It is far better to subscribe to a service that can consistently deliver 10% to 25% than to go with the one that deliver 50% this month and then -20% the next month. Remember, consistency is very precious in this business.

Only subscribe to a genuine Forex trading signal service.
The task of finding a genuine and great Forex trading signal service is not easy. The fact that the internet is filled with hundreds of Forex trading signal services makes it even more difficult. Every Forex trading signal service claims that they are the best and it takes time to really find the one that stood up to the claim. Picking a genuine, great service involves evaluating several factors such as reputation, result and proof. Of course it is not necessary to subscribe to each one of those services just to find the genuine one because it will cost money and time to do so. If you choose the wrong service you will not only end up in disappointment but also you will lose money not because of the fee but in the form of losing trades. Moreover, you will lose good trading opportunities and time. This is why you should only deal with a genuine Forex trading signal. A great service will benefit you in the long run and there is no substitute for a successful Forex journey. One last note, don’t fall for services that claim they have lower fee because lower fee does not equal higher profitability. You might save some bucks but you might lose a lot in unprofitable trades.

Trading Forex is not easy and it is even more difficult if you don’t know where to start. Acquiring good information is always the first important step and you already have it. The simple steps and guide provided above will help you greatly in your Forex journey as they did to other homemakers around the world.

Learn Forex Trading – Professional Forex Training – What’s the Buzz About?

So what is the buzz about trading Forex?

Well, I love what I am doing… I love it so much that I decided to demonstrate the Forex buzz with you. And if you give me ten minutes of your time, you too will understand why…

Forex is a potential solution for every single person looking to make more money; earn persistent income and take back control of their lives.

That is a huge statement, I know! But in these times of job loss, economic uncertainty and less money to make ends meet, there has to be a better solution than getting yet another job, or working twice as hard or downsizing your lifestyle.

Forex is a perfect solution! (I will explain why in a minute)

First, indulge me and take a look at your personal situation right now…

Take a minute and think about your lifestyle; your income; and how good (or challenging) life has been. Now, think about an additional monthly income that would financially take you to the next level… from getting ahead financially to being able to upgrade on whatever lifestyle choice you desire next. What is the income number you just thought of? Is it a modest $500 per month? Is it $5000 per month? Is it $20,000 per month? Now write out this statement:

(Don’t be shy… be bold!) I would like to earn $_______________ more each month.

Now take a minute and think about your current job(s); current lifestyle; current free time… what options are available for you to increase your income by this amount? Do you see yourself achieving the additional income amount your just wrote down if you continue doing what you have been doing?

Will you need to (or can you) work harder? Can you ask for raise or get another job? Do you have the time (and tuition) to learn an entirely new profession?

If you are at all like me, the answers to the last three questions were no, no, and no!

So how do you get to this next level of income? For me, Professional Forex Trading has been the answer… and I think it can work for you too! I want to demonstrate how and why it has worked because I believe Professional Forex Trading is a real option for anyone interested in trading to earn additional, persistent income.

Hold on just a minute though. Before continuing, I want to make a distinction between trading and Professional Trading; and specifically how this applies in the Forex Market. There really is a huge difference! There are many people who trade, either actively or passively. But the vast majority trade without any trading education or a structured approach to the market. And their results are average at best.

Trading in general (which is non-professional trading) typically consists of:
• Acquiring as many trading tools, indicators, news and information as possible to make buying decisions (usually not selling decisions)
• Attempting to trade, but experiencing average or worse-than-average results
• Inconsistent execution leading to larger, uncontrolled losses and minimal gains
• Inconsistent risk management leading to the depletion of trading capital over time
• Years of frustration and mixed results that rarely ever achieve professional status

Perhaps that sounds familiar to you. It did for me.

Professional Trading (the kind I am now doing) consists of these keys:
1. Mastering statistically proven trading systems
2. Incorporating rigid risk management rules
3. A Business Plan optimized for the temperament and lifestyle of the trader
4. Proper Training by other Professional Trader(s)

And actually, these keys to Professional Trading, (professional meaning trading as part of your profession), are a formula that applies to every profession in the world! Consider a doctor (or lawyer, or accountant, etc…): if I gave you all of the tools, medical books and state of the art equipment doctors use today, could you walk in and perform surgery? Even if you were allowed to try, you would NOT be very good at it. Why not? What do aspiring doctors obtain before they have the confidence to perform surgery on their own? Well, you probably already know the answer. The aspiring doctor practices alongside other Professional Doctors until he builds the knowledge and skill set to take the next step and perform surgery on their own. They NEVER EVER are allowed to just ‘try it themselves’. And thankfully, the medical community is structured to prevent anyone from just ‘trying it on their own’.

It’s a different story in the trading world, unfortunately. You can pretty much do what you want; all you need is some capital and any firm will open your account and let you begin to self-destruct!

Today, however, there are real solutions available!

If you want to create the persistent results of a Professional Trader, you MUST acquire the tools and practice alongside other Professional Traders already creating persistent results. PERIOD!

Then, only after you have the tools; have learned alongside other Professional Traders; and have practiced enough to build your own business plan, you can expect to go forward and create a persistent income stream for yourself. Without the Professional Trader by your side, you are just using your own capital to reinvent a very expensive wheel.

Great! So what does it take to learn Professional Forex Trading? (Glad you asked!)

The answer is easier than you may think… at least it is today! And that’s where the buzz of Forex is building.

There are many firms touting Forex, but a relatively few firms popping up that are addressing the aspects of Learning Professional Forex Trading. One company in particular has developed an individualized structure far beyond what I have seen anywhere else. And, their approach is dedicated to applying the four keys to Professional Forex Trading mentioned above and applying them in the Forex market. Here they are again:

Professional Forex Trading consists of:
1. Mastering statistically proven Forex trading systems
2. Incorporating rigid risk management rules to preserve your capital
3. Creating a Business Plan optimized for your temperament and lifestyle
4. Proper Training from another Professional Forex Trader

Sounds nice, and if you are anything like me, the next question is, how can I possibly learn how to do this? My life is hectic as it is! (At least that is what I said.)

But you know what… there is a very real solution that has been structured to adapt to your schedule and provide you with live, professional guidance literally on-demand! (I will share where to find this environment in a moment.)

First, I want to demonstrate why Forex is the place to learn (vs. all of the other markets) and why this market is the best I have seen to learn to Professionally Trade Forex:

Forex is the easiest and most accurate market to trade.
The Forex market is the most liquid market in the world (and it continues to grow), meaning there are more people trading Forex than any other market! This makes it the easiest market for every single trader to get in and out of trades both easily and accurately.

Forex enables you to trade only when it’s convenient for you!
Forex is available virtually on-demand. Forex is open for trading 24 hours a day for 5 days each week; making it available for every single trader to participate on-demand, on their schedule (and not during specific market times). This is the perfect opportunity to trade only when it’s convenient for you!

Forex enables you to control 50 times your investment capital.
Forex offers traders considerable leverage for their investment; enabling traders to control 10-50 times their own trading capital. For example, a $1000 investment would control $50,000 worth of currency; compared to a $1000 investment in stock being able to control just $1000 worth of stock.

Professional Forex Trading is now available to individual traders in the convenience of their own office (or home) and at the times that most suits their schedule.

So, you may be asking ‘where do I go?’…well, there lots of Forex trading firms and Forex trading systems available. Just do a search for Forex and you will have plenty to sift through. However, there is a short list of Forex environments that enable you to truly learn how to trade professionally from Professional Traders. So wherever you look, be sure to check for the four keys that must be included. Ask these questions:
– Do you provide statistically proven trading systems?
– What are your money management and risk parameters?
– What is the business trading plan that you will teach me to create?
– Who are the professional traders that will mentor me to success?
– Is there a live trading environment where the mentors are available 24 hours each day while the market is open?

Once you are trading professionally, you can take you business anywhere, but until you are a professional, if the firm or individual cannot provide good answers to all of your questions, consider going somewhere else to learn Professional Forex Trading.

There is one firm in particular that answers all four points and answers them so well, I ultimately signed up with their program. They have a live Forex trading environment open 24 hours a day and you are guided by their professional traders ever step of the way.

Remember, wherever you ultimately jump on the buzz of the Forex market, select a program most suited to your lifestyle and goals. Forex is the quickly becoming the part-time business of choice that is supplanting peoples ‘day job’ salaries.

Happy Trading!

Learn How To Trade Forex – Can A Beginner Make Money In Forex Trading?

Introduction

Contrary to what every Forex ‘expert’ out there would have you believe, it’s not easy to learn how to trade Forex at all. Trading Forex is one of the most challenging skills you can ever set out to learn, which is especially daunting if you’re a beginner just starting out to learn how to trade Forex. If you’re finding it hard to learn how to trade Forex successfully right now, you’re probably wondering: “Can a beginner make money in Forex trading?” By the end of this article, you’ll know what you can do to make money in Forex trading right now.

Can A Beginner Make Money In Forex Trading?

If you have a look around the many Forex websites, forums, seminars and magazines, it seems like everyone’s making millions of dollars trading Forex! The thing is, Forex traders love to talk about their winning trades and make themselves out to be wildly profitable traders, but the reality is that only 5% of Forex traders are consistently making money. Yes, even a beginner can make money in Forex trading, but there’s a big difference between making money in Forex and making a full time income, achieving financial freedom, and building wealth through Forex.

What Stops Beginners From Making An Income

So what’s stopping beginners from making a consistent, long term income from trading Forex? Well, unlike the professional Forex traders working for the big banks and hedge funds, most beginner traders learning to trade Forex aren’t paid a full time salary to immerse themselves in the markets. If you’re just starting out in Forex, then you’ve probably got a full time job that you spend at least 8 hours a day on, and a family and social life outside of that. That means that you have a very real shortage of time to get yourself to the level where you can trade like a pro, and believe me, it takes a lot of time and consistent effort.

It takes years of study, practice and real experience in the markets to learn how to trade Forex successfully, and get to the level where you can consistently make money in Forex trading. Not to mention that you’ll be taking on, for all intents and purposes, an unpaid part time job that will chain you to your computer while you are trading. It’s something that will alienate you from your social circle, and put considerable strain on your family relationships as well. It’s no wonder that most traders wanting to learn how to trade Forex will give up within 3 months, and never make money in Forex trading.

What You Can Do To Make Money In Forex Trading Now

So what can you do to make money in Forex trading right now? The best shortcut I know is to buy a proven Forex trading system to do your trading for you. I’m not going to look you in the eye and tell you that you can just go out there and pick any system and make millions, because that’s simply not true. Profitable trading systems are rare, and you need to choose very carefully. That said, if you can find a trading system that works, you can overcome the biggest challenges any trader faces while they learn how to trade Forex. You’ll be able to gain valuable Forex market experience, preserve your personal relationships and most importantly make money in Forex trading while you learn how to trade Forex.

When you’ve built up the capital and income of your Forex systems operation, and have gathered up valuable trading experience, you may decide to try out trading Forex for yourself. Regardless of whether you trade with an automatic Forex system in the short, medium or long term, it’s a powerful solution that will enable you to make money in Forex trading even if you’re a beginner.