Forex Traders Success Formula

[text_block style=”style_1.png” align=”center” font_size=”16″ font_color=”%23333″ font_spacing=”2″ font_shadow=”none” bottom_padding=”15″]Forex is not Hard, Only Three Steps are Required![/text_block]
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[text_block style=”style_1.png” align=”left”]Executive Summary:

  1. Open a Broker Account – CLICK HERE
  2. Risk management: Maximum Open Trades is 10, Lot size is 0.01 for every $500
  3. Subscribe to signals via Email – CLICK HERE

PS: Read below for important information on each step.[/text_block]

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Step 1.  FOREX BROKER

[text_block style=”style_1.png” align=”left”]Most newbie traders, even traders who may be long in the industry but have not learnt much fail this very important step of selecting a broker..

If you ask a random question in a traders group to get a broker recommendation, most traders will give you Broker names based on their pricing per trade closed.. popularly known as spreads..

But what good is cheap prices if you are dealing with a rogue broker,  a broker who hedges against its traders in a scheme known as StopHunting..

Other ways to lose money is where the broker is manipulating stop loss orders or ignoring buy or sell orders to maximize the broker’s profits.

So don’t be fooled by low spreads to your snare by brokers who also double up as rogue..

Trade with a legitimate broker and you are guaranteed to remain a trader for long..

XM Group is licensed by FCA in the United Kingdom (Trading Point of Financial Instruments UK Limited), ASIC in Australia (Trading Point of Financial Instruments Pty Limited), the IFSC in Belize (XM Global Limited) and by CySEC in Cyprus (Trading Point of Financial Instruments Ltd), adhering to enhanced regulatory standards.

Open a Trading account with XM – Click Here[/text_block]

Open a Trading Account with XM Now!

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Step 2.  RISK MANAGEMENT

[text_block style=”style_1.png” align=”left”]Before we cover Risk Management:

Lets have a look at Money Management..

How much money is good enough to start trading?

I have encountered this question many times.. and to disappoint you there is no correct answer to it..

First off, there are no two traders whose desire and goals are the same. Some are trading with a long term financial goal, others are trading to earn a living and put bread on the table..

One trader wants to accumalate enough to buy a USD. 20K car, the other wants to earn USD 300 for the weekend or even some USD 100 to buy groceries by evening..

A reasonable System will give 3%, 5% to 10% monthly.. forget the doubling your account in one month, that nonsense only works on a streak and such traders only last for a moment like shooting stars that attract attention for a while and its gone forever..

You want to be a star that shines forever, and you dont do this by crazy wins or homeruns.. its only by consistent average wins, but the homerun comes, we take it.

Having said that, how much is enough to start with..

I will not skirt around the Issue.. any amount below $1,000 is a waste of time and mental bandwidth, even if the broker entices you to deposit the minimum $50, don’t fall for it.. The Ideal amount is upwards of $5,000 or even $10,000 if you can..

$1,000 is a good start for a learner.. it helps you to get minimal wins and stay disciplined.. Greed is the undoing of forex traders.. they want to double account and repeat it everytime there is some big news on economic calendar..

Instead of toying on a demo account, its best to trade with minimal $1,000 real account following one system, be it a proven indicator with entries and exits or some signals from a professional trader.. but dont hop hop allover with new systems.. if you want to try new ideas.. thats what demo accounts are for..

Why is it important to stick to one system per account: and not fall for every one thrown around in forums?

If a system has a draw down of 30% but has returns of 80% per year..  what does that mean? It shows that if you have a $1000 account and trade with the said system, you’re likely to drop your account to $700 but before the year ends.. the account would recover and even climb to $1,800 at the end of the year.. so losses should not make you panic if you stick to one system and stop envying your neighbors who post wins every so often but not their losses..

Finally, on Money Management..

Whereas, we have underscored that each trader is in a unique situation and has different levels of desire.. It’s important to note that our goals match these two financial goals:

  1. Capital
  2. Profit

If you have a small account starting at $1,000 then your goal should be to grow your capital. such that if you make 10% gains in a month.. your capital rises to $1,100 the following month and by end of year you would have $3,138.43 as trading capital since your previous gains will also compound..

If your Account is $10,000 then you can be comfortable to say you are trading for profit. If you make 10% profit per month.. thats $1,000 a month.. on average.. and once every two years.. you could get a winning streak that doubles your account.. but you should only pay attention to the average consistent wins..

Risk Management

There are only two things to consider in Risk Management:

  1. Maximum number of trades open
  2. Maximum Lotsize for respective trading capital

On maximum number of trades – it should be Ten (10). dont open more than 10 trades at a go.. thats it.. as an experienced trader since 2007, I could write an entire book on why 10 but you will understand more when we expound the second rule on lotsize

On maximum lot size. for Every $500 – each trade should be 0.01 Lot. So if you have a $2,500 account then you would have 2,500 with $500 set and get 5.. so you take 5 and multiply by 0.01 lot to get 0.05 lot size per trade.

another example if your account has $1,000 capital, then that account has two sets of 500s so 2*0.01 = 0.02 Lot per trade  now if you multiply that with maximum number of trades which is TEN  then 0.02 * 10 = 0.2 Lots open in a $1,000 account

On Leverage: 1:50 is ideal 1:100 to 1:200 maximum is ok

*I don’t care how much of an experienced trader you are or will be.. as long as you are not disciplined in Risk Management you are doomed to fail by your own weight..

*Risk management accounts for 70% of your success, 20% is a good strategy, 10% is access to tools, time, broker and everything else..[/text_block]

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Step 3.  PERFECT TRADE ENTRY & EXIT

[text_block style=”style_1.png” align=”left”]Knowing when to enter a trade and when to exit requires mastery in Technical Trading. the ability to monitor charts, price movements against time..

Many traders fail because they trade currency pairs instead of treating each as two markets. For example EURUSD is Not a market but two markets of Euro and US dollar.

So you have to study the liquidity of the EUR in general and that of US dollar seperately..

This helps you to know on which currency in the pair has least liquidity..

Because price moves in the direction of least liquidity

It takes a lot to master the markets, also aiding tools are required to help make faster decisions while entering or exiting a trade..

In consideration to the time and skill required for a trader to be a successful trader in making correct decision we have designed a system where we share trade calls or forex signals with technical charts such that a trader can enter a trade and still learn from the chart how such a trade was arrived at..

We have two types of signals:

  1. Harmonic Signals – perfect entry and Exit
  2. Harmonic Predictions – perfect for those using more than one strategy to confirm a trade entry.

The Signals are available for Free in a Myriad of Channels as follows:

Free Signals via Facebook – fb.me/CompleteForexSignals/

Free Signals via Twitter – twitter.com/CompleteFX

Free Signals via Telelgram – t.me/completefx

Traders Group via Telelgram – https://t.me/completefxgroup

SIGNALS VIA EMAIL

Delivering signals via Email costs us money and we therefore charge aproximately 30 cents per day at $9.99 per month.

Subscribe to receive signals via email, delivered on time and for easy retrieval

If you made ONE Pip on a Standard Lot = $10

If you make 300 pips per month = $3,000 for only $9.99  and you’ll be making many more pips per month from a myriad of high win rate strategies.

Subscription is via PayPal/Card $9.99 every month and you can cancel anytime. no contract, no obligation. [+] CLICK HERE TO SUBSCRIBE <<=[/text_block]

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Register Me Now!

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[text_block style=”style_1.png” align=”left”]In Summary:

  1. Open a Broker Account – CLICK HERE
  2. Risk management: Maximum Open Trades is 10, Lot size is 0.01 for every $500
  3. Subscribe to signals via Email – CLICK HERE

 

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