The only three ways to make profits in FOREX
Keep this in mind, if you are a trader and you think that you can reap considerable amount of money by trading FOREX in one go then you are bound to lose. You will burn your account and sit around depressed.
There are few of things you need to understand before you think you can make profits in FOREX
- You need to find an honest broker
- In India it is not legal but yet legal if you have an honest broker
- A broker has the technology to manipulate your account and you will never know
- A huge profit let’s say few hundreds of dollars will make your broker focus on your account and then you can kiss it goodbye.
- You need to have stable and strong spreads and a fast platform – broker can manipulate this without you knowing
- They may not give you the profits or quit responding to you – this is easy because it is not legal in India and the broker has the edge over you.
So what the f**k we should do?
- Find a broker near you (IB – whom you personally know)
- Ask for fixed spreads
- Do not go for bonuses
- Do not trust jargons like STP and ECN – it is not what they say
- Do not give those hard cash – Always do banks transfer
- Visit their offices personally and more often
- Make them believe that you are a beginner – They will assume that you will lose and pump more money
- Do not tell them you know how to trade – they are there to mess with you, instead you mess with their mind. Let them think that you are not a threat. Because when you make profits it goes out their pocket and they are not there to make you money. They are there to make themselves rich out of your money. The technology is so swift that you will not suspect a thing when they manipulate your account (The dealing desk of the broker does this)
- Do not ever believe when the broker say that they have no dealing desk – it is a big fat stinking LIE. All Brokers has dealing desk.
There are so many things but I cannot write that much now:
I know and I know what I am telling you. I worked years for a FOREX broker and that too one of the most popular one.
Now I am going to tell you how to make money of these brokers and trading FOREX.
Think that even if you make profits, your broker can stop it, because the more profits you make the more they lose
Here we go:
You need to lay your eggs in many baskets instead of one: Imagine you want to invest $1000 in your forex account with a broker. Instead of pumping one account with $1000 or equaling INR you divide that into 4 pieces $250 each with 4 different brokers or $100 with 10 brokers. This is the only way to ensure that they will think that you will lose that money by yourself and you are not a threat to them. They will concentrate on other foolish traders who have invested more money into their accounts.
Now the second factor:
ALWAYS SCALP, NEVER HOLD THE POSITIONS FOR MORE THAN TWO OR THREE MINUTES.
Trust me, scalp and make few bucks in each trade. Close it and make another trade for few bucks. Then close that platform and log into you second account with another broker. Do the same. Repeat this process whole day. Most of the times your broker will not be interested in you making few bucks per trade. The key here is to give adequate intervals. I know it is time consuming because you are f*****g greedy and to be rich in a day. Your broker will screw you man. At the end of day you need profits and be wise. Do not get carried away.
Always remember the ocean is made with small drops.
Now the final step:
Withdraw your profits frequently however small it is. They may charge you a transfer fee. This is why it is best to visit their offices and it is for this reason to find a forex broker who can be reached easily. If you think that he hugely advertised and so called regulated brokers are safe – boys are you wrong? Yes do not trust the words, safe, regulated etc. Withdraw your profits from all the brokers frequently. This will ensure that you will have a considerable amount of profits at the end of the month.
DO NOT BE GREEDY AND THINK THAT YOU CAN BE ICH IN A DAY
Last but not the least – You need to know when and where to scalp
For this reason you need to find a good system trade support system that can tell you the correct areas to buy and sell.
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www.alertelsystems.com
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www.alertelsystems.com
