So what does it take to become a trader?

“Isn’t that what Nick Leeson, the guy who ruined Bearing’s Bank, did? I don’t think that’s for me thanks, I’m not really a risk taker or a wheeler dealer.”

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Talk to most people about Forex trading and that is the sort of response that you are likely to get. People see it as highly risky and only likely to appeal to bright young men in pin-striped suits. But nothing could be further from the truth.

I wasn’t the smartest person in my class. I definitely wasn’t any good at Maths. In fact, I didn’t really shine at anything. I was simply ordinary, and everyone knows that you need to be extra bright and a whiz at figures and so on to be a trader, right?

Wrong – once again, nothing could be further from the truth. The majority of people making money at home from Forex are pretty ordinary. Most are from pretty humble backgrounds. And there’s definitely no gender barrier with Forex. I’m a ’stay at home’ Mum and a lot of successful traders are women.

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In fact, after a recent survey, one Forex trainer stated that women seemed to have an edge over their male counterparts. Whether there’s any truth in that or not, it isn’t really about gender. It is true that a lot of successful live traders are women. In fact, in some ways they have a bit of an advantage as they seem to find it easier to just follow the rules than some men. For example, nurses seem to do very well at this, maybe because they are disciplined and understand how important it is to follow instructions precisely.

It’s true that some Forex systems do look complex and difficult to understand, but in my experience, it’s best and much more profitable, to keep it really simple and follow a tried and tested routine. I’m a firm believer in, ‘if it ain’t broke, don’t fix it’ and all of the members of the trading club that I belong to follow the same principle.

Of course, there are people in the Forex world who want to ‘make it big’ and want to ‘get there fast’. I call these people the ‘crash and burn’ merchants. A lack of discipline and patience, coupled with a compulsion to gamble for high stakes, will soon bring disaster. And of course, some people do trade like that, they’ll never see what a cool head and a businesslike approach with a tried and tested routine can achieve. Unfortunately, for many people, this kind of approach isn’t an option. They only have ‘big bucks today’ in their mind’s eye – which leads to – ‘crash and burn.’

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But it doesn’t need to be that way. My club-member colleagues and I, trade using a simple strategy with simple rules. And we exercise discipline and patience every day. ‘KISS’ (Keep It Simple and Safe.)

Most of the people I am in contact with on a daily basis, trade for an hour or so before breakfast. Some are live and experienced traders now, living in new homes, enjoying a completely different lifestyle. Some are just starting out on the road and there are all sorts in between. Many plan to quietly build their Forex account, trading a few hours a week, until they reach the point where Forex can replace their J.O.B. Others just want to enjoy the extra disposable income that Forex can bring. Quite a few of us are already at that point.

Being a trader really is something that most people can do. Especially if they set about it the right way and follow a system that relieves the stress associated with risk. Yes, it is possible to trade in a stressless and risk-free manner – and it is possible to be successful at it without spending endless hours at the computer. It’s all about the right method and disciplined application.

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So where’s the catch?

The catch is that you can’t just dive in and do it (crash and burn). You need to get a little assistance so that you start right. Starting wrong just isn’t an option. Do a little ‘due diligence’ and pick a simple and honest teacher or training course. Always check it out properly and always try and talk to the person who’s going to help you, before spending any money.

Forex is a wonderful way for anyone to get the most out of life. I know, because it’s happened to me.

Click Here to learn how to become a professional trader with Forex Training Works

Click Here to learn how to become a professional trader with Forex Training Works

Forex – just another Get-Rich-Quick scheme, click here to go to the official Forex Training Works Website?

Is forex all it’s cracked up to be? For the more conservative amongst us, the growth of web sites promising overnight riches from forex trading make us remember that get rich quick schemes, notoriously do not work.

Most of us would run a mile if we were offered such a scheme. And it’s true, people do get their fingers burnt as they try to get rich quick. We’ve all heard the saying, ‘there’s no such thing as a free lunch’ – and generally speaking it’s true. Forex is not a free lunch and it definitely is not a get rich quick scheme. But for the steady, non-gambler who is prepared to be disciplined, patient and sensible, Forex can be a complete life changing, safe and profitable business.

It’s ALL about compounding a tiny amount regularly and with discipline.

Let’s compare ‘Return On Investment’ (ROI) from forex, with ROI from a bank. We’ll assume a bank deposit account with $5000 in it attracts interest at 4% per year. At the end of a year, the total ROI would be $200.

Now let’s compare that with a simple minimum target of just 5 pips a week at forex – trading only 5% of a capital of $5000. Using a simple equation to determine a pip value of $12 a pip. 5 pips a week would give us a ROI of 3.3% per MONTH.

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Untouched for a year, the compounding of a growing capital sum would give an annual ROI of a staggering 88%. Compare $200 with $4,400 and it’s a no-brainer. No wonder more and more ordinary people are turning to Forex to change their financial circumstances.

5 pips a week really is low figure. It includes negative trades, holidays and off days and is a truly achievable target. Unlike any other markets, forex is 100% controllable by the individual. The ONLY prerequisite for safe trading is discipline and 100% application of some simple rules.

Most people do not understand the power of compounding in Forex. Here are actual figures for monthly ROI on the same $5000 – but instead of 5 pips a week, we’ll double the pips to 10 pips a week. Still an incredibly low target by anyone’s standards.

This is an example only to explain the power of compounding. The 10 pips a week projection does not take into account holidays and off days. It is an average, and includes negatives. It is not a guarantee of earnings. The column on the right is actual profit on your original investment(ROI) which remains intact.

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Once Again Please Note: These figures are net, average, which means they include losses.

Month 1 . . . . . 11.08%

Month 2 . . . . . 22.32%

Month 3 . . . . . 36.00%

Month 4 . . . . . 51.36%

Month 5 . . . . . 67.64%

Month 6 . . . . . 86.64%

Month 7 . . . . . 108.8%

Month 8 . . . . . 131.44%

Month 9 . . . . . 157.80%

Month 10 . . . . 187.28%

Month 11 . . . . 218.56%

Month 12 . . . . 256.84%

Forex is definitely not a get rich quick scheme, but compounding small amounts regularly, surely can pay-off, big time.

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This is a review about FAP Turbo, click here to go to the official FAP Turbo Website.

There are many forex trading robots on the market and as I know from experience the quality of many of them is questionable at best. But the FAP Turbo has real promise.

FAP Turbo trades the markets for you and you will need a MetaTrader 4 broker. It’s a completely overhauled version of Marcus Leary’s forex trading robot. The system has a scalper system and a long term trading system. FAP Turbo has been updating and actively trading its live account for several months. It seems to use tight stop losses, which gives it an advantage over other robots that have large stop losses and very small profit targets.

FAP Turbo comes with several professional, high-quality video tutorials that are 3-7 minutes in length each and will show you how to set everything up. Because FAP Turbo is a robot you won’t have to search all day for your trades, they will be automatically placed on your behalf.  But keep in mind that the robot only works while you are online. If you turn off your computer there’s the potential of missing big trades. You can pay a monthly fee to host your robot on their server but if you are new to Forex trading and money is tight, that might not be an option for you.

Click here to go to the official FAP Turbo Website

I recommend starting out making demo trades as you get comfortable with the robot. Also, there is a 60 day guarantee. You should never purchase a Forex product without a guarantee. Also, you won’t have to invest much money up front to purchase FAP Turbo so if you are new to Forex and interested in a robot but unsure which one to start with, this would be a good place to begin.

Click here to go to the official FAP Turbo Website

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It’s safe to say that most people have never heard of Forex (the Foreign Exchange Market), let alone know that they can actively participate in it. It’s also fair to consider that those few who may have heard a little something about it, think that it’s like trading on the stock or commodities markets. Well, the long and the short of it is that anyone can learn to make money in the Forex Market from the comfort of their own home. And, it is much simpler, safer and 100 times less complicated than trading stocks and other commodities.

Forex trading does not require years of training or extensive knowledge. In fact, it’s really true to say that less is more if information overload is not your thing. Wherever you look, books, the web, cd’s – there is simply too much confusing and conflicting information available about Forex. What’s more, much of what is available is unnecessary and useless when it comes to actually making money.

Let’s take a quick look at why this is. Much of what turns up when researching Forex is historical and technical in nature. Simply pick up a book the next time you go to the mall and you will see that it’s loaded with all kinds of information about what Forex is, how it originated, and there’s certain to be some mind-blowing statistical quotations in there somewhere. None of this will help you become a successful, money-making person.

If your research is internet based, you will be bombarded with thousands of sites, all filled with similar, often useless, information. You will also find hundreds of gurus, ?qualified experts?, in the field, poised and ready to take thousands of dollars off you to fill you with the very same knowledge you can read for yourself in any book. Taking training courses from these individuals is expensive, and more often than not leaves one feeling overwhelmed with information overload – but not necessarily feeling any more ready to pursue financial security in the Forex market.

When it comes to learning Forex, simple is best, less is more, and learning only what you ?need? to know is the key to being successful. Studying technical indicators won’t make you a better trader. Having a business plan and concrete strategy will. If you are considering Forex trading, keeping these few points in mind could simplify the process for you and save you an awful lot of money too.

Good training needn’t cost thousands of dollars. Beware of exaggerated claims and look for past-student recommendations. Also it’s a good idea to try and talk to the trainer in person before parting with any money. All that said, Forex can be a wonderful way to leave the rat race and the daily commute behind and head for a more relaxed and independent lifestyle.

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A key question for anyone looking at a business venture must be, ?Is this business recession-proof??

This is a key question to consider because it is a major factor in determining whether a particular venture is viable or not, both short and long term. It goes without saying that entrepreneurs want to make money whether times are good or bad. In order to do that, it’s of prime importance that the venture meets the criteria of being considered ‘recession-proof.’

Recession-proof industries are determined by their income elasticity and demand. In other words, can the business remain relatively stable despite the fall in discretionary income? Something we know we’ll see during an economic recession. In simplified terms, where does it fall on the ‘needs’ versus ‘wants’ scale of spending?

Many factors influence the economy and can cause a recession. Some of these factors are speculation, currency crises, inflation, national debt and war. This invariably leads to unemployment, foreclosures, bankruptcies, stock market crashes, reduced sales, less lending and deflation. This is all part of the natural cycle in economics known as expansion and contraction. We continually see periods of recession, recovery and prosperity.

Throughout history this cycle has repeated itself over and over again, trying to find an equilibrium which is only ever fleetingly achieved.

Lets take a look at what factors impact the Foreign Exchange Market (Forex). Perhaps the most important factor is the economic health of any given country. Is the economy weak or strong? Is inflation out of control? Is recession looming? What is the political climate between differing countries? And let us not forget about good ol’ speculation. Whether the numbers are up or down, they can and do impact the valuation and movement of currency in the Forex market.

Given this, ever so brief, few paragraphs, let us take a look at how Forex stacks up against the grim outlook of our current economic reality. There’s great news here! Let’s take a look at why.

Even though all the economic factors discussed above, impact the valuation and movement in the Forex market, they don’t affect the ability to make money trading on the market’s movement. This is because the earning potential in based on this movement. We don’t care if it’s up or down, we just want movement of any kind.

Does this mean we shouldn’t consider other economic information? Well, no one wants to make decisions in a complete vacuum however, strictly speaking, economic information isn’t really called for. There are simple, no-nonsense, purely reactive strategies, which are based solely on movement in the market. If the market doesn’t produce the kind of activity you want, you simply don’t trade. Preservation of capital is king.

The great thing about learning to trade in the Forex market is that education, experience and economic status don’t matter. Once you’ve been given the right knowledge and tools, it’s then up to you to develop the discipline, patience and business-minded attitude to be a successful trader.

To sum it up folks, this is a business of trading the stuff all the other international decisions are based upon – cold, hard cash. Whether the markets are up or down, money will keep moving around the world. That’s a fact! What we capitalize on, is that very movement. We aren’t buying or selling any tangible product, we are sailing on the coat-tails of movement. Isn’t it beautiful? We are our own buyer and seller; therefore, the only customer we have to satisfy is ourselves.

Forex is a 100% recession proof business. There’s activity in the forex market whatever happens. How great is that?

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Many people assume that making a living from forex will be complex and above their heads. This is just not so. It?s possible to make a great living from home using simple, easy to follow rules that everyone can understand.

In a way, it?s like electricity. We don?t have to know anything about electricity to flick a light switch and see the light come on. Likewise, we don?t need to know ?everything about Forex? in order to make great money.

The secret of stress-free forex trading is realizing that small is beautiful. A tiny amount of risk free trading three or four mornings a week, is infinitely better than sitting at the computer all day long, yo-yoing up and down in ?gambling mode?.

Earning great money need NOT be a gamble in Forex. With proper discipline, patience and a business plan – it?s possible in a few short hours every week, to make a better salary than any J.O.B. could offer.

The secret of stable financial security through forex is what Einstein called ?the ninth wonder of the world?, compounding. Of course there is a learning period, and simple rules have to be absorbed and practiced until perfect. But this learning process is carried out completely risk free with pretend money in something called a ?demo? account.

The majority of people do not realize this and allow thoughts of ?get rich quick? to overcome the good business planning and common sense that ought to go with any new financial venture. All that glitters is not gold and unfortunately, ?get rich quick? schemes are advertised freely on the web and it?s definitely a case of buyer beware.

There?s no substitute for good, honest training without bells and whistles. Beware of the hype that is so common wherever the sharks sense that there are people with money to invest.

After proper training, the rules are few but strict.

Only trade a maximum of 5% of capital in any one day.
Wait for the correct criteria – better to preserve capital than risk it.
Be prepared to exit immediately if in any doubt. Minimised, tiny negatives are easy to recover from.
Cut out greed and close the trade and the trading station as soon as target is met.

Just a few ?pips? a day, a few days a week can compound into serious money by anyone?s standards. Forex, ?done right? can be a complete change of lifestyle for very ordinary people. All that’s needed is a PC and the right motivation and training.

Click Here to learn how to become a professional trader with Forex Training Works