Hey guys! Trading is a game and every day is not always a triumph! Everyone wonders: how to make money on Online Forex Trading? But I have really good news right now: I’ve been trading with just one strategy of Forex and I can celebrate + 20.000 Pips for the last 6 months!
Yeah, I know that we all need good news, because in hard times you may ask yourself: How profitable IS Forex trading? Trading Forex isn’t something new to me at all. Are you excited to learn how to do Online Forex Trading? I am here to help and assist you! The foreign exchange market (also known as Forex or FX) is one of the most exciting, fast-moving markets in the world of Finance. Though historically, Forex has been the home of huge institutions, central banks, and high wealth individuals, the growth of the Internet has allowed the average person, like you and me, to become involved with and profit from online currency trading. I started trading already 7 years ago, and I created several demo accounts. I followed traders on Etoro and copied their profits and losses. And I have to admit that I lost more than I earned, and at the end I became very disappointed. Actually, I considered to quit.
I thought that trading only was like lotteries and casinos – just gambling! But since I hate to lose and give up, I decided to give it one more try and this time to trade on my own – and I signed up for education by some of the most popular traders out there and went to several seminars held by known traders… Unfortunately it was not free, and I paid a lot for just getting an introduction… And I felt some of the presenters dedicated most of the 3 day course to upsell me to their more expensive education packages… which I could not afford! Simply I was not willing to pay anything more! I also signed up for free webinars online. Slowly, I learned step by step up how to do trading as a daily routine.
I realized that I had done several mistakes earlier. I had set my lot sizes too high and the margin calls were coming too fast – I had spent more money than I could afford to lose. It’s so extremely important to have a realistic trading plan – and you may probably not understand it before you have failed too.
What changed the trading experience for me?
Let’s move to the most important question: What exactly changed the trading experience for me? How to make money online trading?
To be understood:
Well, I started to be more accurate in every single decision. And I made up a list of questions for myself:
- Plan how many trades will I trade per day, week and month?
- Decide how many Winning Pips are my Weekly Goals?
- Avoid to be trapped and decide in advance how many Pips in Drawdowns should I allow?
- Find good levels where to set StopLoss (SL) and TakeProfit (TP)?
- What if all my trades are going against me? How long will I allow to watch that before taking action? When should I stop the trades manually?
So what I did do? I was creating my own gaming rules! That was the new Forex beginning I needed! It made my life much easier. This way you are going to handle the days where the trend is going against you.
What Is My Best Forex Advice?
To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to forex and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging forex trading. In order to learn, you should use a Forex Demo account, which you can create here.
- Be picky! I have learned that it is better to stay away from most trades and only choose the trades where I have done really good analysis! If you haven’t sufficient of faith, stay away! New trades options will come!
- It requires a lot of knowledge and discipline. Not even the best traders are perfect every day or week, but hey will have some good days and bad days. Anyway, a good trader should always rise. Personally I think he/she should be back on the track quite fast!
- Discipline is the most important factor in my eyes. You need to not overtrade or do stupid things. It may cost you weeks – or months to recover – or in worst case you may blow your entire account.
How to make money on Online Forex Trading? Take action!
- To make profits in trading, you can’t just wait! Action is the main factor you need to do! If you want to learn more about my strategies, my rules and how I made 20.000 Pips in just 6 months, you can get instant access for my FREE course. You will learn how to keep a good discipline for a steady profit, also for the future. Practicing is always the best way to be confident and you learn much faster.
And I have several other businesses than just Trading that I also want to describe in details here on Help To Make Money. I want to help others to be successful too, but it’s easier if you let me know what you want me to share! Thanks!