A guide to making easy profits on the Foreign Exchange Market, how I do it and how you can do it too.

Intro

Trading the Foreign Exchange markets doesn’t have to be difficult, complicated or time consuming to make consistent profits. It can be easier than you ever thought possible and you don’t even have to know that much about trading to start making profits straight away. By using ‘signal providers’ we can set up our trading accounts and pretty much press the ‘copy’ button to start mirroring some of the world’s most profitable professional traders, a fully automated trading system that works.

FAST TRACK GUIDE, I DON'T HAVE TIME TO READ!

I share your pain... for the witty, experienced & click happy people who are on their 3rd coffee this morning and don’t have time to waste! Go right ahead, don’t forget to bookmark this page so you have a reference for when you get lost. I’m one of those guys who look for the first few comments on YouTube where the guys says “starts at 5:43”.

FAST TRACK GUIDE

1. Get a Foreign Exchange Broker Pepperstone or get one that works with ctrader platform.
2. Download Ctrader Platform and create a demo account.
3. Signal Providers web page Cmirror

About me

Goggle+ Verification: ServantOfNone
Gmail: jaycob.bell@gmail.com
FaceBook: Jaycob Bell
Location: Townsville, Queensland, Australia
Blog Credit Source: 100% Original from me.

I have been making profits on steemit by blogging valuable information in the form of guides. I am not the best writer or super creative intelligent person but I do know how to make a passive income from trading forex. I’ve been interested in investing, finance & debt management since I’ve had my first job and its pretty much been a hobby ever since.

Who what which when why how where

I am writing this blog because this is the most valuable/profitable information I know and every time I’ve put solid effort writing a guide from experience I have received a solid payout from steemit. If you can stick with me through this guide I am confident you can make easy profits like I do. The best part about this strategy that is you can test it out on a demo account to see if you have a real working trading system that makes profits before you go live with real money.

What kind of profits per month can I expect to make?

Its a difficult question to answer, Its like asking “how much can I make on steemit per blog?” It’s a combination of risk/reward and our ability to evaluate professional traders before we start to copy them. Lets imagine I had a gun to my head and I had no choice but to answer that question my answer would be about 10-35% per month we can make on our money. Below are some screen shots of my trade statistics and results of one of the traders I follow.

‘Stable’ aka ‘CashBoxMini’

Stable is on of my crown jewel traders at the moment. I’ve been following Stable on a live account for about 3 weeks now and he has made me some amazing profits.

• I started this account with about $518(AUD) and today he has made me a net profit $812. That’s about 156% on my money in less than 3 weeks. Not all accounts will be this great though, all investing comes with a risk and it’s something we need to consider carefully before using our real money.
  
• The equity chart shows my balance, transactions & equity. The white lines show my deposits and withdrawals, I deposited $518 on the 20th of July and withdrew $150 on the 3rd of August from my profits.
  
• I have about 7 live accounts and about 20-30 demo accounts which I use to track the ‘traders progress’. I will track for about 2 months before I even consider using real money.

Lets get into it

I could talk all day about my personal philosophy and views about decentralisation, fiat money, monetary systems, investing principles & debt but I just want to focus my energy today on this getting this guide done as the title says “how to make easy profits”.

Just one more thing

However you have never invested before I do recommend reading my guide on setting up your accounts for long term investing. The Barefoot Investor Survival Guide It has some great money management tips that everyone should look into.

Getting a grip

First of all I highly recommend running everything on a demo account first for at least a period of 1-2 months before going live with real money, maybe even longer for people are complete noobs to trading but if we have experience in crypto/stock trading I’m sure we will work it out quite quickly.

While the demo accounts are running try understand the process of what’s happening before we use real money. We need to understand messing with this system can lead to losses, we need to have discipline and self-control. If we over-leverage, change, close or open new positions we risk losing our money.

This system is automated by professional traders and I can’t stress enough that if we are not a professional trader we shouldn’t touch anything at all.

The run down in 7 steps

1. Setup a forex trading account (demo) and download the forex trading platform.
2. Access signal provider’s web page.
3. Run a demo account for each signal providers strategy’s which show the best risk/reward that best suits us.
4. Evaluate the best of the tested signal providers by checking maximum risk, drawdown, equity, profit factor, Return on Investment & history ect.
5. Go Live with minimum amount of $200-500 with our tested signal provider and start copying/mirroring their trades.
6. Grow with confidence and experience with the system.
7. What happens from here is up to.

And never forget investing can be risky, past performance does not guarantee future results, never invest money you can’t afford to lose!

I would like to know more

I like to evaluate about 20-30 signal providers on demo accounts for 2 months before going live. I don’t have to manage anything, I just check my balances and trades each morning to see how they are performing. Sometimes I will email the provider if I have any questions.

Commissions

I pay a very small commission (picture above on the right side) to the signal providers for each trade I do (it’s how they make their money or else they would not provide signals!). Actual forex trading can be very difficult and time consuming to be profitable on a consistent basis.

The deep and meaning

Feel welcome to ask me any questions. This should be enough information for most people to get started.

My forex broker Pepperstone

Go with a razor account if you go live with pepperstone broker, works better for copying signal providers (cost effective).This an ECN broker not a market maker broker too (great benefit). I could do a review why this is my favourite broker but basically it’s got the cheapest/tightest spreads available, good customer service, ease of use, simple fund deposits and withdrawals and works in with cTrader platform. Feel free to use any broker you like that works with the ctrader platform.

My Trading Platform (cTrader)

Available to download from pepperstone website or you can also download directly from spotware website too. You can use other platforms like MetaTrader & use different signal providers but I find cTrader works best for me, it has signal providers built into the platform and is the easiest to use by far. I suggest watching all the tutorial video to learn the features of the platform before going too much further.

My Signal Providers cMirror

And lastly the signal providers, so they way to go about this is find a few good traders and test them on our demo accounts, make sure we find traders with a good history (more than one month), check the drawdown, equity charts, current opens positions and all that stuff.

Testing and evaluating is the most important part so take your time, don’t jump straight into an account because it says it’s making 2000% per month. Check things like open positions and equity, because I’ll guarantee you if you don't check these you will lose money faster than you can make it. Test a bunch first on individual demo accounts, don’t over-leverage and don’t exceed the recommended & read the provider's comments.

My top performers so far, start following with demo accounts and see how you go

1. CashBoxMini
2. After Math
3. Yorex & Julian Tamad
4. 786 or Wall Street

Things to remember

• Always check the traders statistics & equity levels make sure you have sufficient funds to follow.
• Don't start a live account without following for a minimum of 2 months with a demo account.
• Try to keep track of open positions between your account the the signal providers, make sure they match up.
• Don't invest money you can't afford to lose, investing can be risky. Past performance does not guarantee future results.

This is all I have for this guide, thanks very much for reading if you have made it this far. Don't forget to comment if you have any questions or feel free to email me.

Look out for my next guide "Dealing with Debt & Debt Collectors"

Jaycob Bell

Links

If you would like to know about forex trading in general try babypips.com its a free eductional on forex basics.

Introduction to ctrader platform

Introduction to cmirror platform