13 Dec 2014

How To Trade Forex Profitably (II)


Yesterday, I started this mini series on Forex trading. Today, I will tell you how to have an account online and subscribe to an outstanding robot who can then make money for you even while you sleep.

Join me as I continue.
The character/social requirements for trading Forex hasn't changed from what I told you in my very first article on Forex on this blog. The most important being that you must have a mentor.

See this excerpt from Jared Martinez's ebook on the need for a mentor:
"Success in life is not a fantasy; it is a formula. Successful people who can become your mentor have discovered a formula that works in their area of expertise. Their daily focus is to be disciplined to that formula. Mentors have learned how to think accurately from their past experiences of trial and error. They are very clear on how to separate facts from mere information. They have learned which facts are important and which facts
are unimportant for their continued success. Mentors have already made the mistakes and are skilled in not repeating them. They are a brain you can pick, an ear to bend, and a person who can push you in the right direction. They are someone whose hindsight can work hugely to your advantage in
creating your foresight."

Please do not start a new venture (whatever that is in your life) without a mentor/role model or guide to help you avoid pitfalls. In fact, it will be foolish of anyone to start to learn something new and not have a guide, when there are more than enough mentors/books/articles/videos in the world today on virtually any topic/field you want to learn.

The registration requirements for trading Forex online include:
  • You need a platform -just like in online stock trading, you must register an account online with some top brokers. The ones I have used over the years and still use include Alpari, Instaforex and Forex-metal.
  • Your means of Identification (either your international passport, Driver's license or National ID card), and your utility bill showing your current address e.g. NEPA bill, Waste Management bill or Bank statement showing your address.
  • Like I explained in the article on general requirements for making money online as a Nigerian, you need a computer system/laptop and a very good internet connection.
After you have registered with one of the brokers I mentioned above, or any of the over 200 that actually exist today (mind you, there are also fraudulent ones, so regularly check scam review sites such as forexfraud.com, Forex Peace Army, before sending your money to anyone), you should then download their Metatrader platform. MT4 is the most popularly used platform today, but the use of MT5 is slowly gaining traction.

How To Make Money From Forex Even While You Are Asleep
In order to install a robot to trade for you, you will need to go to this site to register- MQL5. (You can also buy Forex books or subscribe for trading magazines on the site.)

After you have registered, log into the site.

This is a screenshot of the website and the different signals/robot you can subscribe to

The rectangle encloses 6 best signals/robots that you can subscribe to.

The first is the most outstanding in terms of performance, and it is a signal named MAKNYOSS.

The first arrow points to the amount you will have to pay for subscription monthly-$21, the second points to the percentage growth of the balance-2427% in 26 weeks (last arrow), 528 represents the number of subscribers and 55 represents the number of trades the robot used in achieving that growth percentage in 26 weeks. [The most expensive here is Sapient which is $35 monthly]

Alternatively, you can log on to that site/subscribe for the robot and install it on your account through the platform as you can see in the picture below


After you have log in, go to signals at the bottom of the platform and click on it. You will see the signals/robots arranged in order of performance. You can see that Maknyoss is #1 here again.

It is best you install it first on a demo account to test it with the same amount you will eventually deposit  in your live account for the robot to trade with.

You can use this link to watch a video explaining it better.

I will continue from here.

If you have any questions, or suggestions or comments, please don't forget to contact me, or leave it in the comments section below. I will be glad to respond to them.
Thank you.

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