how to earn extra money in forex?

need some starter tips… like recommended trading platforms, fees and etc…which currencies are less risk but high/good returns?

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Posted in: forex trading tools

Tags: Earn, extra, forex, Money

This entry was posted on Saturday, February 13th, 2010 at 11:46 am and is filed under forex trading tools. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

7 Responses to “how to earn extra money in forex?”

AHW February 13th, 2010 at 12:22 pm

To earn money in forex trading is not difficult. But you need to have some good knowledge otherwise you will not be able to sustain any success.

Try to read as much as you can and learn about forex trading basics despite the presence of automated forex trading robots that can do all the work for you.

I believe the best way to earn money in forex is to be prudent and start small. Practice but don’t commit big money that you can’t afford to lose. Practice with very small amounts until you know your software well.

For me, I found Forex Automoney a good membership to follow. There’s so much you can learn from there, even for me who have been trading before.

Kaspars S February 13th, 2010 at 1:22 pm

Most if not all broker platforms keep a running balance of your available margin to help you avoid this fatal situation. If you intend to trade multiple positions and fade into suspected price turning points you should consider setting up this formula in a spreadsheet so that you get an early warning long before the situation goes critical.

Hose February 13th, 2010 at 2:07 pm

For me I made a bit on the Sterling. Love this currency.

Suzane P February 13th, 2010 at 2:57 pm

I can see people are turning towards forex trading as a work from home extra income opporutnity especially during this recession. Previously Forex Trading used to be the domain of big institutions like banks, corporations, institutional investors and hedge funds. With the advent of internet, this has all changed.

But i would also make you aware that anything you do in life without training will most probably end in failure. Same goes for forex trading. Most of the people lose money in forex trading because they don’t bother to get the right education when they start trading.

Therefore go your homework, learn strategies, browse tutorials and practice demos before you start live trading.

All the best.

Eva I February 13th, 2010 at 3:04 pm

Well……… you seem that you are new to forex and you are planing to start any forex business………look…. forex is undoubtedly risky…… although people are making millions of dollars but some people are going without earning even a single penny……. so you have to understand this difference…….. you should have good knowledge of currency market if you don’t have good knowledge then please consider giving some time to learn it…… the difference you have to guess is to have knowledge of the business………………..anyhow this business got very easy……. even a small businessman can do it with the access of internet but some years before it was not so… only big institutions and financial corporations were involved but now the time is completely changed………. please consider one thing that forex involves about 80% speculation so if you are willing to join forex then you have to understand it speculation aspects as well………as a new to forex you may open a trial account many forex company gives you options of opening trial account so you may check on this web site as well…. http://www.forexz.co.cc/ as this website provide one month free trial account so you it is somewhere advantageous for new businessman………. best of luck……..

azman a February 13th, 2010 at 3:34 pm

forex tips for beginners
1.Journaling: Having a forex trading journal is a very valuable tool. It serves to meet a few purposes. The first being an accountability tool. You’re not just going to put down what you traded, you’re going to explain yourself. Answer why you decided on this trade, what you’re expecting, and also include a conclusion of what happened when you finished. The second reason is that it becomes a tool in itself. You can now look back through it and have real examples on what you did and what the results are.
2.Slow & Steady Wins The Race: Most people start slow, it’s the way we think, but once someone gets a taste of success they start trying to go at a much faster rate. What happens? They end up losing big time and they quit. Start slow and remain slow. You do eventually have to grow, but you want to it baby steps. Always take each step as an important move that you need to watch like a hawk. Do this and you will make it to long term success.
3. Get Software: Software like Forex Killer is a great tool. If you’re going to take one thing from these free forex tips, you need to take the fact that software works for you all hours of the day. It will go through all the currency graphs searching for profitable trends for you to exploit. All professionals use it, so why not the little guy.
forex software recomended to you http://auto-forexreview.blogspot.com

OldYoungGEnius February 13th, 2010 at 4:00 pm

A huge bunch of forex articles http://forextradingarticles.info/