Forex Trading Strategy – Learn How To Day Trade And Swing Trade EUR/USD, USD/CHF, AUD/USD Or Any Other Major Currency Pair…
There are only two kinds of traders. Winners. …and Losers. Ninety five out of one hundred don’t make it in this field. For their failure they blame everyone but themselves. Wrong. There is only one person to blame. You. This course is about joining five in a hundred. It’s about winning.
Recently, a close friend of mine who knows me for years admitted to me that he lost over $21,000 trading forex market in less than three months time.
So I asked him why didn’t he consult me when he was starting, actually I was very disappointed that he even hid from me the fact that he was involved in forex.
He told me that every time when he heard me talking about forex I was always using words such as “hard”, “stressful”, “dangerous”… He said that he didn’t like to hear those words.
“Forex trading is easy…” “Anyone can do it with just a little bit of effort…” “You can quit your day job…”
His demo account was set at $50,000, few lucky trades over the next four weeks and his demo account grew to $78,000.
He withdrew $10,000 from his hard earned savings account and he was all set to accomplish his dreams.
However, very soon he realized that trading for real money and trading demo account have nothing in common.
Nervous, scared, he took his profits way too early and stayed in losing trades far more than he was supposed to.
His money was melting before his eyes! He added another $5,000. Then he borrowed another ten thousand from his line of credit.
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When you’re starting out, one of things you discover is that only a few forex traders actually scoop profits out of the market consistently.
Do winning forex traders have some special talent? Have they found some inside knowledge and locked the rest of us out?
However, by then, winning traders, who were in earlier, start to cash in on their profits and the rally loses steam.
Or, if he somehow manages to stay in long enough to see the next rally, he leaves at point C, relieved to recover at least some of his losses.
Because during that exact same move the winning traders had leveraged their trading capital, entered and exited at the optimum times, and stuffed their accounts with profits!
Basically, if you have a start up trading capital of $5,000 and if you trade on a 1:50 margin you can effectively control a capital of $250,000.
If you are a beginning forex trader you should not use more than 1:20 margin until you get comfortable and profitable and then and only then you can attempt to use higher margins.
Let’s say you are trading the currency pair EUR/USD and by using our entry strategy you have decided to enter the trade on a long side. That means that you are betting that USD will depreciate against Euro.
Again, if your trading capital is $5,000 and you are using 1:20 leverage you will effectively be exchanging $100,000 to Euros. If the current rate is 1.455 you will receive 100,000/1.455 = 68,728 Euros.
If the trade goes in your direction margin will work in your favor and 1% decline in USD will mean 20% increase in your start up trading capital.
So if EUR/USD rate moves from 1.455 to 1.469 you will be able to exchange your 68,728 Euros back to $101,000 for a profit of $1,000.
Since your start up trading capital was $5,000 it is effectively a 20% increase in your account. However, if the trade went against you and USD appreciated 1% vs. Euro your account would be reduced to $4,000.
“If you want to get to the top of the forex market “food chain” you have come to the right place.”
In our quest to find the most profitable and at the same time for a “small” trader feasible forex trading…read more