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What is online forex trading?

Online Forex Trading (abbreviation for Foreign Exchange) is a way of investing in Foreign Currencies Market which involves buying or selling of currencies with an aim to make profits. Online Forex Trading Business is actually the art of predicting if the value of one currency will increase or decrease against the other and sell/buy it at a difference (profit) and this is very easy to do because; the value of currencies can change from time to time majorly due to a number of factors include;

Interest rate decisions
Inflation
Supply and demand
Political events
Natural disasters

Which Reliable Forex Trading Broker Can You Recommend?

After reading through the following facts about this Forex Broker, you’ll really know why they are recommendable both to Pro Traders or Newbies who want to join the business.

$3.31 trillion

Trading volume in June 2023

531,511

Active clients in June 2023

$1.31 billion

Client withdrawals in Q2 2023

$105.8 million

Partner rewards in Q2 2023

This broker pays the Highest Commission Rates to their Affiliate Partners and no beats them. Your commission is paid per hour, everyday and it is withdrawable anytime you wish.

Introducing Brokers earn 33 – 40% of the opening spread on all transactions performed by signed up clients.
We offer different types of Affiliate Programs with descent payments to give an opportunity to make more money with optimum flexibility.
You Earn Commission on all trades of your referred clients whether they are winning or losing trades. Register As An Affiliate and learn more about our Affiliate Program.

How Much Can One Make From Online Forex Trading Per Day?

Well, let’s see…

You’ve heard of many traders making millions from Online Forex Trading business and it is really true as George Soros made $1 billion from a single trade but he is not the only one in records. But here’s the thing: You can’t compare yourself to such guys. Why? You’ve got different account size, risk appetite, risk management, trading strategy, and or; skills and so on.

So therefore, a novice day time trader with an account size of $200, can make profits close to $100 or more per trading day. But if you follow the Most Safe Rules Of Trading, you can expect a daily $20–$30 profit on an account with $1,000 as trading capital/equity.

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6 reasons to start online forex trading instead of betting

Yes, if one is looking for an online income, online forex trading is much better than sports betting. Let me show you why…

In Gambling/Betting: Betting is over taxed in many countries or commissioned.

In Forex Trading: No commissions, no taxes although there are some few brokers who charge commissions. If you are commissioned or taxed which is rare to find, that is a broker’s policy whereby you can switch brokers any time you want.

In Gambling/Betting: You have to wait for the kick start of the game and its final results.

In Forex Trading: It is possible to make money as quickly as in just seconds and close your order, withdraw your money and you will be free to trade anytime 24hrs 5days a week without waiting for anything.

In Gambling/Betting: It is a luck-based activity. No matter how professional a gambler is, the house will always win in the long run because they are the ones who set the odds for their own advantage. Although some people may win big prizes, eventually, total winnings will never exceed the input/stake.

In Forex Trading: There is nothing like the house to set the odds. Instead, traders are their own “houses” who can employ various techniques to flick the odds in their favor. In comparison, when you trade, you can analyze the market depending on facts whether they are short/long term and predict the trend basing on them. That is why Forex Trading is not gambling but investing and it’s all about one’s trading logic.

In Gambling/Betting: It is an activity made up of uncertainty facilitated by promises to win huge profits.

In Forex trading: It comes as close to guaranteeing a profit whereby an Investor is acutely aware of risks and factor them-in when considering an activity.

In gambling/Betting: You cannot make money by betting on both results. Let’s say, you cannot make profits when you stake 10,000 on a win and another 10,000 on a loss and another 10,000 on a draw.

In Forex Trading: You can easily make money in either ways whether the market is going up or down but there may be approaches to apply. This is true because the currency market normally moves in trends of up and down which means; when you place a buy and sell order at once, it is very possible to make profit when the trend goes down and you can be able to make another profit when the trend turns and go up. Simply because, in Forex history repeats itself, the only difference is time it takes for this to happen.

In Gambling/Betting: You don’t have a choice to bet on your favorite teams anytime you want, because you can’t control or schedule matches to be played by yourself. You have to wait until the match is scheduled to play.

In Forex Trading: The market is open 24hrs for 5 days a week. You can easily decide on when to trade your favorite pairs, after your work, before your work, at night or on certain days/events.

Mistakes you should avoid In online forex trading

I strongly recommend using a computer for technical analysis activities because of its wider view then, you can proceed trading with your phone to see more success in online forex trading business.

For any strategy used, ALWAYS do technical analysis based on Higher Time Frames (4hrs or 1hr) recommended for day time traders. 4Hr, 1D, 1Mo or above, recommended for long term traders. Let the 30min – 1min time frames only be used to spot right entrance & exit points

If your trading account size is still under $500 of equity, it is more safe to trade using an MT4 Standard Cents Account type, not any other type of trading accounts.

If you are a day time trader, never trade against the trend. We say; swim with the tide.

It is not safe to put at risk more than 10% of your account trading capital (equity). The most recommended would be 2-5%. If you want to press big order sizes, simply increase your equity but remain under your trading limits (Margin).

Over leverage is very helpful but also harmful. It only works best for traders with 95-100% accuracy in spotting entrance & exit points if you are trading with theBest Online Forex Trading Broker.

When you have started gaining the ability to detect right entrance & exit points, avoid using too tight stop loss levels but you can adjust them accordingly when the trade(s) start moving into your favor.

Never put a trade without an exit plan (stop loss limits).

Before you take any trading decision, know everything happening in the market (economic events) in that particular trading day that may affect your trades using anEconomic Calendar.

Be conversant with how everything works on every trading platform you may be using as this may put you into trouble. Order taking or closing can be different compared on Phone Trading Apps and Web Trading Platforms.

Don’t take Forex trading as a get rich quick scheme though it can be, but an investment that grows with capital, time and knowledge.

Avoid taking everyone’s ideas, strategies and or, trading software (bots) spread online. No bot can trade better than a learned trader. If bots were real money makers, then why would their makers sell them for money sometimes at very cheap prices when they can make more money themselves using those bots?

Brought To You By: Uncle Joh

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