Tag Archives: business
Another Great Week Of Trading. Do I Have The Best Job In The World Or What?
Hi all. Sorry i have not updated the blog for a while, but i have been busy getting new students up to speed, and making pips.
Its been a bit tough pips wise over the holiday period, but now things are getting back to normal. I have been averaging between 150 and 200 pips per week, for the last few weeks, but this week i am well over 300.
I am splitting my time between teaching and trading, but i am finding my trading is suffering somewhat because of the amount of time i spend teaching. As i teach all my students in real time, in a live market, i cannot trade and teach at the same time. I also feel it would be disrespectful to my students if i was trading when i teach. If they are paying for my time then its only fair that i do not trade when i teach, so i am finding that i am not getting into trades if i have a lesson coming up, or i am closing out of trades if i have a lesson coming up, which is having a big effect on the number of pips i make each week.
I really do enjoy teaching though, and we have a great group of traders in the live trading room at the moment, and we are all working well together. I am sure there are many more great people out there that could add something to the group, and really benefit from what i teach, so i don’t want to stop the teaching side of the business just yet.
Its a real buzz to see your students making lots of pips, and living the dream, and its all because of the education you have given them. One of my guys regularly makes over 100 pips per day, which is fantastic. He made 143 pips yesterday, and 91 today, all before 2.30 UK time. He has really taken on board what i have taught him, and he is reaping the benefits.
I am not going to be teaching forever though, as i do enjoy the lifestyle that trading gives me, and i do enjoy my free time, which i am getting less of at the moment, but having said that i am currently seeking new students for start dates in October. So if you are a struggling trader, and you think you could add something to the existing group, i would like to hear from you. I have some big plans for the future, and the group of traders i have with me now, or any that join me in the next 6 months, are going to be in a very good position in a couple of years. There are some very lucrative opportunities available in Forex trading for the top traders, and everyone in the group will have access to those opportunities. I believe in sharing the wealth and giving everyone a fair opportunity to invest in their future.
So if you are interested in coming on board, click on the link for more information on my Forex training course.
Have a great weekend, and a great trading week. 🙂
How Professional Forex Traders Make Money
Forex trading is a business and should be treated as a business. When you trade you are putting your money on the line against professional Forex traders.
What makes a professional Forex trader?
Why do some people consistently make money from trading Forex while others consistently lose?
What is the secret to making money from Forex trading?
What do you need to enable you to make money day in day out?
I am going to share this secret with you. I am going to share the secret that myself and other professional traders use every day to make big profits from trading.
The secret is knowledge, yes knowledge. Knowledge is everything in Forex trading. The more knowledge you have the better a trader you will be.
Despite what a lot of people say, a professional Forex trader does not trade with a feeling, or a gut instinct. He trades with knowledge. He knows when price reversals are likely to occur, he knows when to enter a trade, he knows how long to hold the trade for, and he knows when to exit a trade and bank his profits.
A professional trader will execute his trades with calm and precision, while amateur traders will run around like headless chickens, trying to scalp pips from everywhere.
When you have the knowledge, and you can apply it, you will become a laid back chilled out trader, and not a frustrated nervous wreck.
Knowledge is what separates the winners from the losers. So if you are a new trader just starting out, or you are an experienced trader that is struggling to make consistent profits, take my advice. Forget about adding money to your bank account, and concentrate on adding knowledge instead. Knowledge is how professional Forex traders make money.
If you want to add to your knowledge, and learn how to trade Forex like a professional, please consider my Forex training and mentoring program here. It will be the best investment you will ever make in the Forex business, i can guarantee that. 🙂
Day Trading Verses Trading Daily And Weekly Charts
Day trading verses trading daily and weekly charts.
Some traders have different ideas on what day trading Forex is. I qualify day trading as trading anything less than a daily chart.
If you are trading 4 hour charts, 1 hour charts, 15 min charts or less, then you are day trading.
I am a day trader most of the time, but i can, and do trade longer time frames. The set ups that i use are better suited to day trading, but do work very well on the longer time frames.
The main benefit of trading longer time frames, daily and weekly charts is time. You can spend an hour or so every day analyzing the charts and set up your trades in advance. This style of trading is very good if you are in full time employment, or have other business commitments, or you just want more time to enjoy your life.
Day trading requires you to be at the PC for most of the day, looking for trading opportunities and set ups. Day trading is more exiting, but can also be more stressful. How you decide to trade is entirely up to you and each style can be equally rewarding.
This may come as a shock to some people, but the charts work the same way in every time frame from the 1 min chart right up to the monthly chart. Some trading strategies only work on certain time frames, but a good trading strategy should work equally well on any time frame. The smaller time frames are more volatile and set ups can be less reliable. You are also more likely to be stopped out of a trade if some price sensitive news comes out, but your stops are tighter on the smaller time frames, so you are protected to a certain extent.
I personally don’t trade anything less than the 15 min chart. I occasionally use the 5 min chart to manage a trade, or to get a better entry on a trade, but as far as set ups go its more likely that i will be trading 15 min, up to 4 hour time frames.
I like to trade everyday and if you are trading the longer time frames you sometimes have to wait for a few days sometimes a week or so before you get a good set up. I enjoy trading very much, and if i had to wait for a week for a trade it would drive me crazy, but each to their own. 🙂
If you are new to trading you have to decide what type of trader you want to be. Do you have the time required to sit in front of the PC and day trade, or do you prefer to take a couple of trades per week and have more free time? You can do both of course.
I teach people to trade any time frame so it makes no difference to me what type of trader you want to be, i can teach you either or.
For more information on my Forex training and mentoring program please click on the link.
Forex Trading As A Home Business
Most retail Forex traders work from home. A retail Forex trader is basically anyone that trades Forex other than a large bank or a hedge fund. Retail traders outnumber banks and hedge funds by volume, but not by buying power, the banks and hedge funds by far out way retail traders in that respect.
Having said that retail traders can earn a very good living from trading Forex if they know what they are doing, and it can be a great home based business. It can be started with as little as a few 100 pounds, and if you’re good at it you can turn that few 100 into 1000’s in a very quick time period. I think this is the attraction for a lot of new retail Forex traders, as its very easy to make money from Forex with very little outlay.
Getting access to the Forex market is a very simple process. You just open an account with a Forex broker, send them your proof of id, deposit your funds via a credit card and you are in business. That’s when the fun starts. 🙂
If you are lucky you will make a few winning trades and think this is easy. If you are unlucky you will blow out your account, and lose your money. Without having the knowledge needed to trade correctly you are basically just gambling with your hard earned cash. You may as well go to the casino, or play the lottery.
A bad experience trading this way will often put people off for life. When i first started this business i lost money too, but i knew that if i stuck with it i could make it work, and i did. If you are one of those people that has had a bad experience, please take it from me, you can do this, you can succeed and make a living from trading Forex, you just have to know what you are doing.
Forex trading is the perfect home business as far as i am concerned. Imagine a business where you could buy something for £50, and you could then resell it the same day for £1000. And you can do this 6 days a week, as many times as you want, and from the comfort of your own home. You dont have to look for a supplier, you dont have to look for a buyer, you dont even have to pay tax on your profits if you’re spread betting. How perfect is that?
So let me give you some advice if you are considering trading Forex as a home business, please learn the job before you risk your money. You can set up a demo account with a Forex broker to practice on before you go live, and there is quite a bit of free info out on the net to help you get going. If you have tried it and failed, please get back on the horse and try again. You can make money trading Forex from home, and its easy when you know what you are doing. 🙂