A Quick Word Before We Start... Forex Trading Business is like golf...
A lot of people do it – but only a select few can play it with any kind of skill. Or consistency. And, like golf, it's a tough “game” at the best of times. Every shot counts – and the landscape can be very unforgiving. And that's almost too simplistic an example – golf may be difficult to master, but at least it's not a volatile environment.Forex is volatile
. Things can happen fast. You can lose your money– fast. Or – if you know what you're doing, you can make money fast as well. It's just that getting to that point can take literally years of diligent practice, training and experience in general. The bottom-line is that this isn't a get-rich-quick strategy. Go join the latest MLM craze if you're looking for “insta-wealth”. Yes, some have made millions when they started out with a mere pittance in capital outlay – solely from forex trading. Maybe that will be your story. Statistically speaking, though, the chances of that aren't too good. It's a rare few who've developed a system capable of such – and stuck to it with the necessary discipline to compound their profits over and over again in order to make “real” money.Why such a negative outlook
? Isn't this kind of a dreary way to start out a beginner's guide to trading Forex? Yes, it is, actually. But it's important that we paint an accurate, realistic picture in your mind so that you can approach this like a calculated, profit-minded business-person who's focused on averaging more profitable trades than losses. Not a cash-crazed opportunist who's only real concern is big houses, fancy cars, private jets, etc. Now –that said –I think you'll be very excited about what we have to say about realistic results from forex trading on the next page...We made it clear that Forex Trading is a difficult endeavor to succeed with.
There are hundreds of thousands of factors at work at any given moment that affect the currency prices, and getting into a trend before it starts and getting out before it tanks isn't just a skill –it's a science. And normally
, this would take you years of practice, losses and likely a lot of frustration before you developed an accurate sense of how to identify or predict market conditions confidently enough to profit from them consistently.
But the key word there is normally...
Thanks to today's technology, the tables have turned. You can REALLISTICALLY
make a consistent profit every month from forex trading even if you're a total and complete newbie. HOW?***************************ELOMGROUP
ELOMGROUP (Efficient Literacy Of Modified Trading
) are forex traders with various background in different specialization ( engineering, accounting, developer, programmer, etc) that simply contribute to the transformation of society in trading business ( forex, Energy, Indices, & Precious Metal) to achieve a more profitable, sustainable, and simpler future. Elomgroup started their journey with human capabilities, designing an Artificial Intelligence (AI) to take over the parts of a task that people are bad at and let people decide upon high-level goals and constraints. By using Forex Trading Systems developed by successful traders . You simply follow along and trade based on their pre-set conditions (if “A = B, then C”) - or let their trading management programs trade for you. This is a new development that's only been possible recently due to the emergence of high- speed internet and trading software titles that are adaptable to 3rd-party programs. The good, reputable trading systems are tested, back tested and re-tested continually to ensure that they're producing a consistent win percentage. Meaning that you can literally know nothing and still turn a profit if you follow a good system letter by letter.
The unique invention of EURO system(Electronic Unified Resilience Outlet -AI) really help to make trading efficient for traders. The AI are wired to stick to system commands and take valid trade signals, without feeling pain from losses or joy from wins.
Even though the foreign exchange market is open 24 hours a day, traders can’t possibly stay up all day and night throughout the trading week just to keep track of price action the entire time but with Euro System-AI, on the other hand, can be programmed to watch market movements without the need to rest or even take pee breaks. It simply follows a set of rules based on technical indicators or price action and can execute trades automatically. For a lot of traders who’d like to profit from market movements during a particular trading session but are stuck in a different time zone, calibration of this tools means that they don’t need to worry about trading sleep for pips.
Ultimately, no amount of technology can currently replace a large number of roles filled by people. Humans are still key in making big decisions, thinking creatively and providing unique insights specially in the market. Technologies like software can be great tools but they still require human input.A word of warning:
There's a lot of hacks, scam-artists and “marketers turned forex traders” out there hawking alleged trading systems, expert advisor programs and software that can supposedly make money for you (while you sleep, of course). And obviously, many have been suckered by the clever marketing and the results are horrific, sometimes financially devastating... That's why you need to make sure that you only trade in a trading system that's been developed by someone who's a forex trader FIRST – and internet marketer second.
Our personal suggestion is to check out that trading system right now, bookmark it and then consider demo-trading it. You always want to test any trading system with virtual funds in your demo account before trading actual capital. Our suggestion is to demo-trade the system on a daily basis for at least 1week – and keep in mind that our top trading system offers a week “either it makes you a profit or your money back” guarantee, so the only thing at risk is your time if you test it on a demo account. Using a reputable trading system is about the only forex “shortcut” that exists. It's the only exception to an otherwise very difficult (yet potentially rewarding) form of getting consistent winning trades.
Now let's cover the basics of forex trading – taking a look at what forex is, how it works?FOREX TRADING simple explanation
The aim of forex trading business is simple. Just like any other form of speculation, you want to buy a currency at one price and sell it at higher price (or sell a currency at one price and buy it at a lower price) in order to make a profit.
The foreign exchange, also known as forex or FX is decentralized, over the counter market for trading fiat currencies. Currently, forex is the largest and most liquid capital market with a daily turnover of more than 5 trillion US dollars. It has emerged as one of the most popular ways to make money online with hundreds of folks joining it daily to get a slice of the pie. The forex market takes 24 hours a day from Monday to Friday in every part of the globe. Some of the advantages of trading forex include;
How the Market works?
- It takes place round the clock, unlike other financial markets like the stock market.
- No formal requirements are needed to trade forex and the starting capital is also affordable.
- There’s high liquidity and the transaction costs are quite low.
- No one including the brokers can manipulate the market.
- Forex trading is easy and can be done by almost anyone.
The forex market involves trading of the world’s major currencies. Usually, the value of the currencies keeps on fluctuating against one another and the market participants take advantage of that by using their current currency to buy another which they expect to rise in value. For instance, if you have U.S. dollars and believe that the Australian dollar’s value will increase against the U.S. dollar, then you can buy the Australian dollars. Then, Immediately the exchange rate rises, you can now use the Australian dollars you bought to buy back US dollars to make a profit.
All that you need to have to start forex trading business is some money, personal computer or smartphone, reliable internet connection, and some amount of patience. Let have a look at managed services, the best forex managed account service is the one that fits your trading style and needs. The key to success in any investment is having a good plan, discipline, and patience. With these three things, you will be able to make consistent profits with minimal risk.
For those just starting out, we recommend INSTAFOREX
as a broker/platform due to their unique non-standard contract lot sizing facilities.
InstaForex provides an opportunity to trade on Forex using three types of accounts in one: Micro Forex, Mini Forex, and Standard Forex. In order to make it possible, the company came up with a non-standard 10000 lot, which at the trade of 0.01 lot gives the pip value of 0.01 USD, i.e. the absolute minimum. It enables the holders of accounts up to 5,000-10,000 to control their risks effectively. What is more, the lot size of 10,000 makes it convenient to calculate the pip value when opening deals.
Just have a look at the information below:
0.01 InstaForex lot trade= 0.01 USD pip value
0.1 InstaForex lot trade= 0.1 USD pip value
1 InstaForex lot trade= 1 USD pip value
10 InstaForex lot trade = 10 USD pip value
100 InstaForex lot trade = 100 USD pip value
1000 InstaForex lot trade = 1000 USD pip value
Easy ways to calculate the pip value and the opportunity to combine three levels of Forex trading in one trading account at once makes InstaForex lots an indisputable advantage of the company's trading terms.PERFORMANCE
Elomgroup success is driven by many traders who want to earn a consistent profit in their portfolio. This scheme lays down a foundation for control of a sophisticated technological artificial intelligence system involving human operation and provides efficient way to fuse human intelligence with the machine artificial intelligence. The scheme is implemented and tested in a real meta trader 4 trading platform which other traders/investors can simply request for viewing and calibration.VALUES
Technology is best when it brings life in its’ simplicity.INNOVATION
Elomgroup and affiliated traders are continually innovating a comprehensive range of systems and services that increase profitability, reliability, and consistency for our trading in a simplified approach.RISK DISCLAIMER
( NEVER trade with funds you need to live on. ONLY trade with money you can afford to lose.)
Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading
may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades,
profit or loss, and agree to hold Elomgroup members/traders and any authorized distributors of this information harmless in
any and all ways.RESTRICTIONS
(Avoid trading scared money)
No one ever made any money trading when they had to do it to pay their bills at the end of the month. Having a requirement to make a certain amount of dollars per month or you will be financially in trouble is the best way I know to completely mess up all trading discipline, rules, objectives, and leads faster than you’d expect to disaster. Trading is about taking a reasonable amount of risk in order to achieve a good reward. The markets and how and when they give up their profits is nothing that you can control. You should never trade if you need the money to pay bills. Do not trade if your business and personal expenses are not covered by another income stream or cash reserve. This is how hasty decisions are made.