This blog post is written to help wannabe traders, how to make money out of trading the Forex currency market while in order to earn some extra income and at the same time being able to keep their 9 to 5 day job.
Majority of the Forex trading platform will encourage you to trade the markets as an intra-day traders because it is not only beneficial to them, but also because they do not have your interest at hearts.
They are concern about, themselves and they are only interested on the Success of their own Company.
Now Checkout the video below to learn how to Swing Trade For a Living without having any stress associated with day trading:
For example if you open any live trading account, they will give you everything for free, like trading charts, Forex trading tools like Fibonacci levels indicators, RSI, Stoichaitics, moving averages, Average True Range and many more.
They will also give you all the necessary Financial News in order to help you make an informed trading decisions and some brokers will even went to the extent of giving you someone who will be your forex trading advisor, for the mere fact that they want you to invest your hard-earned money in their trading platform, so that they can benefit from you irrespective of whether you lose or make money.
The other important thing to learn is reading and understanding Price Pction or otherwise you will loose money on Buying Fake outs.
Majority of good forex trading platforms will let you open a free Forex Trading Demo Account, so that you can learn to paper trade without having to use your real money for a month and with some trading platforms a Demo account can last up to 3 months.
The reason why almost each and every trading platform will encourage you to trade using some small time frames from 15 minutes, 30 minutes and up to 1 hour is because forex traders make money from trading spreads.
In most cases, when you trade using small time frames, you will open a couple of trades per day and therefore your trading platform will make a lot of money from you in the form of trading spreads irrespective of whether you lose or make money.
Now as an End of the day trader, you will open few trades per day when trading long time frame charts like 4 hourly, daily or even weekly charts.
This will not only make you a profitable trader, especially if you work your 9 to 5 day job, but it also will give you a trading edge as you don`t need to be glued to your Computer and watch the markets the whole day.
The other advantage of trading the long-term charts is that, the Signals are more reliable, compared to trading short time frames.
The other advantage is that you will make more pips of between 100 and 300 pips per each and every trade you open if it goes in your preferred direction.
The only disadvantage is that, you stop-loss levels are also huge in other to cater for this big daily candles moves but with proper money management and correct position sizes this should never be an issue at all.
The other advantage of trading on an End of the Day Basis is that, you can trade even during the News announcements and make even more money without worrying that your stop-loss level will be hit by the volatility cause by Major News Announcements.
As it can be seen there are many advantage of trading forex using End of The Day 9 to 5 trading methodology, and the most important part is that, you only need 20 minutes per day to analyse the market early before you go to work and in the evening after coming from work and over time you will slowly but surely grow your income.
The other good thing is that you can go on with your life by earning money from your current employer, do all the things you like as usually but yet having a side business that you manage by just investing a mere $1000.00 to $2000.00 which is a good thing indeed.
Thank you for visiting my website, and I hope you did enjoy reading this article and above all you will now use the information you learn here in order to finally start your side business to grow your income in order to pay for your child College Tuition fees or make the extra money to pay for your dream vacation.
The secret is to grow your money slowly and be patient and over time you will finally get there without being greedy.
From: Patrick Sekhoto