|
Luke 6:38 - give, and it shall be given unto you... AGAPE.com
is visited:
|
Introduction to Trading "Choose a job you
love and you will never have to work a day of your life." When we wake up in the morning, we have
two simple choices. Now, imagine this... You wake up each morning to get ready for:
This is the typical routine of a wage
earner.
As an example, to earn $250,000.00 a
year, based on a 250 work days in a year, you would have to earn a thousand
dollars a day or more than $200.00 an hour. Moreover, as an investor, if your upside is limited to hoping a salary raise of say 3% per annum but your downside is unlimited when you lose your job, would you continue to invest your time and money working for others? p.s. I am not against working as
an employee as I have been employed before my retirement. What if you can decide:
This is the lifestyle of a passive
income earner. Success is not a matter of chance, it is a matter of choice, and the choice is yours to make! Why work for money when we can have money to work for us? Trading is, without doubt, the very
best lifestyle that anyone can imagine. Trading profitably is the best way to let our money work for us and not us for the money! Moreover, you don't have to quit your job/profession or put your life on hold to embark on a rewarding adventure in trading. You have the option to start small and as you gain more confidence in your trading, you can take bigger steps towards achieving the time and financial freedom to do what you want, when you want and with whom you want! Is it possible to trade for a living? Some of my friends and acquaintances often ask me if it’s possible to make a living trading the Forex market?
The short answer is yes. The longer answer is that to make a living trading in
the Forex market, I have to consistently do the right things, the correct ways.
First the Bad News. Trading for profit can be tedious and stressful because we need to constantly monitor which direction the price is going and we must act fast to take our profits and cut our losses when the trend changes suddenly. Trading profitably for a living is even harder because we will be up against the professionals who are already making a wonderful living from the markets. The good news is that profitable traders are not born but made as demonstrated by the famous Turtle Traders experiment.
In mid-1983, famous commodities trader Richard Dennis had an ongoing dispute with his partner Bill Eckhardt on whether great traders were born or made. Dennis believed that people can be taught to become great traders. Eckhardt thought genetics were the determining factor. To
settle the matter, Dennis suggested that they recruit and train people to trade to see which
assumption was correct. 13 successful
first batch applicants with diverse backgrounds were
invited to Chicago and trained for two weeks at the end of December, 1983. They
began trading small accounts at the beginning of January. After they proved
themselves, Dennis funded most of the trainees with $1 million in February, 1984. The Turtles
became the most famous experiment in trading history because over the next four
years, they earned an aggregate sum of over $100 million dollars. Trading was more teachable than I ever imagined. Even though I was the only one who thought it was teachable... it was teachable beyond my widest imagination. - Richard Dennis. But beware of Marketing Hypes... If you are new to trading, you need to be aware of marketing hypes and unrealistic promises from some self-proclaimed gurus who would have you believed that you can retire rich within months by attending their 2-3 days of training. The fact is that while huge profits
are possible from Forex trading, they require huge exposures, and huge exposures
can easily lead to wipe outs! I should know better, because I have spent thousands of dollars personally on
trading courses which I didn't find value for the money!
On second thought, why would some of these gurus waste time teaching when they can make
more money trading, unless it is the other way around? For a start, you may wish to go through the FREE at your own time and pace to get acquainted with the wonderful world of FOREX trading. I also gained more by investing my time at the libraries, the internet especially the forums, and the studying of charts. As with any other concepts,
knowing them alone is not going to make us rich. Find out more on the Hypes and Facts and the Potentials of Automated Forex Trading My IDLE approach to trading successes:
The difficulty in trading lies not in the concepts
but in the application. This explains why traders applying the same method in trading generate different profitability as in the case of the Turtle traders. Manual Trading: The most important lesson I learned from Forex trading and
from sports arbitrage is this:
Although we have no control of market action, we can dictate our reaction in order to do well in trading. Since, we can never eliminate risks in trading, the best we can do is to minimize them. Guessing
what will happen is gambling. Responding correctly to what has happened is to play safe! If we want to be successful
traders, then we have to be
ruled by our heads and not by our hearts. You
don't have to be good to get started. Here is a news report of how ordinary folks have succeeded
in the Forex market:
The truth is that anyone can learn to profit from Forex Trading as long as he/she can stay disciplined with a Profitable Trading Plan that incorporates High Probability Setup and Trigger, effective exit rules with good Money Management. I know of newbies who have become
profitable within a few months of their live trading.
The common trait of their successes is their discipline to trade their plans.
Profitable trading is not just about making the right entries but the guts to exit unhesitatingly when your entries were wrong and the patience to ride the trend for as long as possible when the prices move in your favor. But few traders have the discipline
to stick to their trading plans to become consistently profitable. As a manual trader, you are no
different from any wage earner. Automated Trading: "I don't think trading strategies are as vulnerable to not working if people know about them, as most traders believe. If what you are doing is right, it will work even if people have a general idea about it. I always say you could publish rules in a newspaper and no one would follow them. The key is consistency and discipline." - Richard Dennis. While trading manually with discipline can be profitable, I soon realized that it isn't easy to trade for a living by watching the Forex market constantly and dealing with the emotional ups and downs of trading. The thought of buying an EA to overcome the problems of
manual trading was appealing if not for the fact that most of these trading
robots that are being sold online are known to be more marketing hypes than
substance. The few commercial EAs that worked
well can become unprofitable due to changing market conditions and/or unsound
trading principles. Fortunately for me, the experience I had gained from creating my Arbulator software as an aid to Sports Arbitrage trading spurred me to translate my Forex trading rules into Expert Advisors or EAs for short for automated trading. The challenging process of conceiving, developing and testing my EAs on demo accounts over several months before trading live, have enriched me tremendously in furthering my understanding of my own personality and the intricacies of profitable trading. The Potentials of Automated Trading:
Is it easy to make money with trading robots? The EA used for this back-test is based on an adaptable hedging algorithm. This test generated a net profit of $1,306,364,888.46 (1.3 billion) i.e. a ROI of 130,636% with a $10,000 trading capital from 1/1/13 to 31/12/13. It is not easy but not impossible to make money with trading robots. Please click on the image above for the details of one of the fruits of my labor. There are limits to what we can do with commercial EAs because the markets are dynamic and require the developers and the traders to adapt to the changes quickly to remain profitable unless these EAs are developed based on sound trading principles. The best EA that you can possibly
have is the one that is based on your own trading plan. Hence, the best automated trading systems are the ones that we can call our own. This is the reason why as a trader and a programmer, I choose not to commercialize
my EAs but to help my profitable traders to build their own trading robots. In summary, the 5 advantages and benefits of an automated trading system are:
If you are already an active trader, the smarter way to trade is to automate your trading by converting your profitable trading rules into trading robots or EAs. As an automated trader, you will get to enjoy passive income from your automated trading instead of deriving active income from your manual trades. Is it easy to make money with trading robots? No. If it was that easy to make money
using the trading robots, everybody would be doing it, and there wouldn’t be
people going to work. The challenge is to create a trading robot that attempts to sense changing market conditions and react accordingly to maximize profits and minimize losses. Passive Earning: But why just trade when you can also earn residual income and rebates for your trading? This withdrawal is an example of the kind of passive income that a profitable automated trader or a diligent affiliate can expect to derive regularly from his/her one-time effort. USD 3000 may not be a big deal for
those who are already earning many times more. Chances are, our income stops but our financial obligations and expenditures continue. The problem will get worse unless we have a well paying job and the discipline to save for years, we will probably not have accumulated enough assets like properties which can be rented out for passive income. So what can the majority of us do to prepare for our retrenchments and retirements?
If so, here is an outstanding passive income opportunity for anyone of you to seize right away... It is not only the simplest way to Earn Risk Free Income globally, it is also absolutely FREE... and maybe, the only chance left for you to become financially independent! The Affiliate Program has given me the opportunity to work smart and the incentives to do well for my passive income. We welcome you to be our paetner today. It is never too early to plan ahead for the inevitable. If I can do it, so can you.
When you have opened an account at , do if you would like me to work with you to become a smarter Forex trader. Online trading is
indeed the best thing that can happen to me upon my retirement from my
IT profession.
What about you? You are welcome to contact me if your answer is YES to any of the above challenges in your trading. Never be afraid to try something new. Remember, the amateurs built the Ark. The Professional built the Titanic! The end of labor is to gain leisure. - Aristotle. |
|