Foreign Exchange market is no doubt a lucrative investment opportunity for people of all ages. While some choose to trade, others decided to invest in a PAMM account. Whichever the case, millions of people worldwide make money trading Forex. Surely, you would love to be one of them.
How do the experts make money trading Forex?
The answer lies in what trading strategy is being used. As a Forex Trader you must develop a trading strategy. This is a must if you want to take charge of your capital investment by trading. There are hundreds of trading strategies out there, but not all of them can be considered profitable. Desperate traders have been scammed of their hard earned money by promises of 100% profitable strategies. Identifying a profitable strategy is tricky, but one thing is sure; a track record never lies.
How does one identify a winning strategy?
Vendors of trading strategies and automated software take advantage of new traders who are impatient and cannot create their own strategy. So, if you are a new trader, make sure you ask for the following before purchasing a strategy or automated trading system;
- A Link to the Vendor’s myfxbook page where he uses the strategy. See for yourself how he is doing on a live account.
- Get an investor’s password to the Vendors live account to check what the trader is doing yourself. If he is successful with his trading system for at least 1 year, nothing except money should stop you from getting that trading system.
- A Step by Step guide on how to set up the system. You should finish the basic Forex School before buying a trading strategy.
Meanwhile, this article is about to reveal to you one of the best ways to make money trading Forex and get 50% profit on your investment on a weekly basis. This strategy is called news trading.
Why is news trading very Profitable?
News Trading is extremely profitable because the news always have a direct impact on the market. During or before a news release, the world is watching and reacting, causing a great wave of influence on the market. When you follow the news, it leads you to the market Trend every day. A news trader waits for High Impact news to be released and gets huge profit. The profit is huge because when high impact news is released the market becomes very volatile and its movement range is very high. The market could move in a certain direction up to a 100pips or more.
In order to be a successful news trader you need to know the following;
- Definition of Trading the News
- How to Read economic calendar
- How to identify what news moves the market the most
- What currency pairs to focus on
- What currency pair the news will affect the most
- Trading Consolidation set ups
- Trade Setups for corrections
- Trading Breakouts with the news
- How to avoid losses when trading the news
- Which Forex Broker to use
You will find detailed explanation and step by step article on one E-book that we are giving away Free of Charge. If you are interested in becoming a successful news trader send us a message with the title “Free E-book” using the Contact Us page. You too can make money trading Forex!
Don’t forget to register a live account with Tenkofx broker, since their platform is best at filling your orders quickly during high market volatility.