How to Earn with FOREX
Money is made on FOREX due to exchange rate difference. So you have to be patient enough and to wait until one currency goes up, and the other goes down.
You can gain with equal success not only buying currency that price goes up, but also selling currency that price is about to go down. By the way, you do not have to start buying the currency, which price is going down in the near future. The bank-partner of TeleTRADE immediately provides for the amount of currency you just need. It is one the FOREX exchange market advantages. If you complete your deal by the end of the day, the currency amount is provided for you free of charge. In the event you consider that to extend the deal is more advantageous for you, you may take advantages of the minimum rates (so called swap). After all, FOREX has never had crisis experience: if one currency go down, the other ones definitely go up.
Euro, dollar, pound, yen as well as all other currencies float every day. So to gain profit on FOREX in efficient way you are to be able to draw in due time conclusions for short –term going-up or going-down of currency. As a rule, traders make a forecast of price movements for the near few hours or for a pair of days as maximum term. And they make use of such short-term forecasts for conclusion of profitable deals. Everybody who ponds the question how I could make money on exchange market does not need to know how much the currency costs after a month or by the end of the year. BY the way, to make a forecast for month is much more complicated than for the nearest day. Nevertheless, long-term strategies also assist in gaining considerable profit provided that a sensible approach is applied.
How Much Can I Earn?
What are the intrinsic reasons the profit amount depends on?
If a trading system is prudent enough, that is to say, it strives to achieve steadily profitability meanwhile adheres proper circumspection and rigid risk limitation system, the average profitability in group of successful traders, according to experience gained, and may vary from 10% to 80–100% per month. There is an extended scatter, because ”two months are not ever the same”. And so, you could have 1–2 excess-profitability months a year, a bit more minimum profitability months, and the most part are average-profitability (profitability more than 10%, but less than 50%).
What is the principal cause to process such a considerable resulting scatter? First of all, strong and simultaneously advantageous situations can occur more than once a day. But, another time, you have to wait for one-two deals for a week. In addition, both the range and speed of price going up or down can considerably differ. For example, a deal concluded at the best price and at the most appropriate time moment as well as according to all rules of trading can produce 500 dollars in one market situation, and 2000 dollars in the other one. Therefore, if trader’s approach for trading is invariable, the final results are determined by market situations in some way.
What About Heavier Trading?
Can I increase amount of my profit? And what is the right way to do it? Even though not everything does, but a great deal depends on traders. Certainly, the profit gained depends on the deposit amount. If your account deposit is not very big, you have to apply the most secure trading tactics and miss many prospective deals. If your account deposit is bigger, you can carry out the most reliable deals in considerable amounts, and allocate minimum currency amount for the deals of average- reliability level. That approach allows you to rise up the bar for profit. And, of course, limitations of tolerated risk amount also affect the results. Trader itself sets such limitations depending on its deposit amount and its personal financial situation. If trader manages investor’s account, as a rule, the investor sets limitations for the trader.
On October 24, 2008 TeleTRADE customers earned more than 10 000 000 US dollars out of fall in the UK pound sterling exchange rate. On that day after 11 a.m. (Riga time) there was a fall in the UK pound sterling against the Japanese yen (GBP/JPY). The fall was so obvious that almost everyone monitoring the charts effected the sales transactions. Somebody even did not go into details. The strong market dynamics allowed the majority of traders to close transactions with profit to 500 points within one hour. Therefore, for the time period less than one hour 9865 customers of the Company (and the matter refers to the mentioned currency pair only) all together made more than 10 000 000 dollars. That matter confirms the old truth how useful is to be in right time and in right place once again.