One of the most valuable things that an online forex trading course can show you is how valuable 20 pips a day is..
1 standard lot at 20 pips/day = $200/day = $50k/year
2 standard lots 20 pips/day = $400/day =$100k/year
3 standard lots 20 pips/day = $600/day = $150k/year
5 standard lots 20 pips/day = $1000/day =$250k/year
10 standard lots 20 pips/day = $2000/day = $500k/year
If you were obeying 2% risk management, then you can multiply your account about 5 times a year.. at 4% risk management, you can multiply your account roughly 10 times /year. To demonstrate..
If you have a $10k trading account and you are trading at a 2% risk, then you can risk $200 per trade (2% of 10k = 200). that means you can trade 1 lot with a 20 pip stop and 20 pip target (1:1 risk reward, least acceptable).
If you can make 20 pips/day on avg with that 1 lot you will make 200/day=1000/wk=50k/year..
So, you just made a $50k/year income with just a $10k account!! only risking 2%. Most traders dont appreciate the leverage we get, and risk way too much, only blowing their accounts before they know what went wrong!
At a less conservative 4% risk management level, you could risk $400 per $10k. Using the same 20 pip model, we would trade 2 lots with 20 pip stop and target. 20 pips/day would now equal $400/day=$2000/week=$100k/year. So, a $100k income was achieved with a $10k account, using the same 20 pips/day strategy.
What’s important is that we never need to try for more pips/day, thats too difficult and novice forex traders have a hard time realizing this. It is more beneficial to be consistent at a small number of daily pips and then gradually increase your lot size as your account grows.
btw, this is NOT compounding, this is taking your profits out every week. If you were to leave the money in your account and increase your lot size according to your account balance you would see astronomical gains.
Here is a link to the Video Series:
The Power of 20 Pips a Day
Learn forex trading in our State of the Art Malibu Traderoom, with a great Soundtrack!Read More
First tutorial in series – Dynamic Fibonacci Grid forex trading software. Learn the basics of fibonacci grids from Fibonacci Grid Global Trainer Sam Shakespeare. Learn forex trading online by signing up for 14 day trial.Read More
Second tutorial in series – FX MoneyMap Dynamic Fibonacci Grid forex trading software. Learn the basics of fibonacci grid trading from FX MoneyMap Global Trainer Sam Shakespeare. Dynamic Fibonacci Retracement Line (L1) is covered. Learn to forecast the forex market effortlessly. Learn forex trading online by signing up for free live trading session.Read More
Third tutorial in series – FX MoneyMap Dynamic Fibonacci Grid forex trading software. Learn the basics of fibonacci grids from FX MoneyMap Global Trainer Sam Shakespeare. Learn forex trading online by signing up for free live trading session.
This forex tutorial covers Dynamic Fibonacci Retracement Line (L7)Read More
FX MoneyMap Global Trainer Sam Shakespeare explains in a live market the Vanilla Trade, and gets a bonus “Blue to White” trade at the end of the session!! Both trades combine for a total 54 pips! (he gets his math wrong on the audio…oops!) Make sure to watch the first three tutorials before watching this one.
For best results, Watch this in full screen mode on HD 720p setting!! (You might want to let it load for a few minutes on “pause”, unless you have a screaming internet connection..Read More
FX MoneyMap Global Trainer Sam Shakespeare explains in a live market the Reverse Vanilla Trade, and nets 20 pips! This is a common setup provided by the FX Money Map forex trading software. Make sure to watch the first three tutorials before watching this one. (For best results, watch in highest resolution your computer and internet connection will allow).Read More
In this currency trading tutorial we will look at how to manage your money in order to have the best chance of making profits, rather than losses. We all know that forex or currency trading is risky, but there are many things that we can do to reduce the risks.
Most new traders spend too much time looking for the perfect system and not enough on other aspects of their trading. Having a system that ‘works’ is not a guarantee of a smooth ride to millionaire status, just as having a car that works is not a guarantee of a smooth ride to the next town. You also have to know how to drive it and which road to take. Two different people will not drive that car in the exact same way and they may not have the same results.
In fact we can take the analogy a step further and it will illustrate the point even better. An experienced driver takes that car and drives it carefully and safely to the next town. No problem. Then we have two beginners. Let’s forget about the driver’s licence for a moment.
One beginner takes a course in driving before he ever gets inside the car. He probably makes it to the next town too, maybe after a few wrong turns, maybe with a couple scratches on the paintwork, maybe a little late, but he arrives in the end. But the other beginner jumps straight in the car with no tuition, heads for the first road that he sees and ends up either in the wrong town or more likely, in the ditch.
And remember, that was the same car. In the same way we can take the same forex system, give it to three different traders, and see three completely different results.
So what do we need from a currency trading tutorial and other forex courses? Just like with the drivers, knowing how to operate the system is only a small part of our training. Risk management is what is most likely to prevent us from finishing up in the ditch.
Let’s take an example. Say you have a system that makes an average of 50 pips profit on winning trades and 30 pips loss on losing trades, including the spread. Around 50% of its trades are winners. It’s clear that this is a good system. It should make profits in the long term.
However, if you start out thinking you have a 50% chance of success so you can risk 50% of your funds on each trade, you would be making a big mistake. 50% winners does not mean that every loss will be followed by a win and vice versa. There could be 2, 3, 4, maybe occasionally even 10 losses in a row. Or you could have 5 losses followed by a win followed by another 5 losses.
Later, of course, it would even up and you would have a run where there were more wins; but if you were placing 50% or even 20% of your account balance on each trade, you would be wiped out long before the wins started coming in.
A better risk in this situation would be 5% or even 2%. At 10% the trader would probably still be wiped out sooner or later. You can check this out against back tests, but always double the worst situation that you see because it is almost certainly not the worst that could happen.
Money management is something that has to be learned by any beginner trader. You can see from this article why it is important to take a currency trading course of some kind before you start trading.Read More
Hello Forex Traders,
Greetings from ForexMalibu and the FX MoneyMap trading team!
We are always getting an influx of prospective clients asking us questions about ForexMalibu and the FX MoneyMap and they often tell us they have had their early impressions of the Forex Industry tarnished by their early bad experiences of other products or vendors who do not have the strength in depth that we have… They ask, quite rightly, what’s special about us?
We want to tell you why we are the “Ferrari” of FX:
1) The FX Money Map is the most highly accurate forecasting tool for trading the forex market. Based on Dynamic Fibonacci Grids, ithe FX MoneyMap is the ultimate Sat Nav tool in FX today that places you IN the marketscape like GPS puts your car in the Map of the road. It’s ability to pinpoint high probability trades is unparralleled and no other Company has this software… We invented it, we built it and we trade with it! (and is currently being utilized by several InterBanks and Hedge Funds).
2) We trade with our own forex trading software, we do it LIVE with our clients on our FXMM Live Traderoom, where you will trade together with hundreds of other professional traders and the FX MoneyMap trading team like one big family for a common goal… To make money!
You really can trade FX professionally from home but with us you don’t have to do it alone. You will look forward everyday to talking with good FX friends you will make in our trade room. Both customers and moderators alike are happy to help you as you join a new team of like minded individuals as yourself.
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4) We have been in this market for years… Andy has never done anything else…. How many people do you know who have stayed in the same industry they started in 25-30 years ago. In these ever changing markets that is priceless experience and why he and his unique insights and vision of what Forex can be to the retail trader should be all the evidence you need to join us now!
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