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Posted on Feb 27, 2019 at 03:51 PM
Switching into a full time trading career will require that you move a step at a time, let's walk through it and uncover a way to earn extra money asides your regular profit.
It is extremey nice to know that you are keeping up with the series, in case this is your first time joining us on this topic, welcome! This is the second episode and to catch up on all that we have discussed earlier, click here, go to the next tab to read up and come right back to this page. As we will be waiting for you.
Now that you're back what's next?
Start smart trading from home.
There are ways to protect yourself from unexpected price movements. Two musts are the Stop Loss and the Take Profit. When traders place an order, they can set an amount they’d be happy to earn. There’s no rule for this, it’s a personal preference. Same goes for Stop Loss. How much are you prepared to lose? These two functions are automatic and activate when orders hit the parameters you set. This lets a trader open multiple orders throughout the day without having to keep a minute by minute vigil.
Opening multiple orders is often referred to as diversification (not putting all your eggs in one basket or currency pair). This way, you can still meet your investment quota of the day, but your results won’t be tied to one decision. It also means that you can use your free time to do other things. Watch a movie or some trading tutorials, read a book, do the grocery shopping.
As the day keeps running. Take time to check your laptop and see how your orders are doing. Check the graphs and see the movements for the morning and maybe add a few more orders on anything that caught your eye.
How to become a full-time trader.
You can quit your job and jump in with both feet. But we strongly advice you not to do that!
Fortune favors the brave, but such impulsive action will likely end badly. Every mountain is climbed one step at a time. The very first step is to open an account and gain access to the markets.
Ever imagined why learning drivers don’t learn how to drive a car by reading the manual? Because they learn best by getting in the car and taking the first ride because they have a professional by their side to guide them to safety while at it.
Your broker has a much safer way of learning and that is why they teach you how to trade and give you a demo platform that doesn't require any cash, all you have to do is get it all set up and running.
To learn how to trade from the beginner level, click here to join our Forex Profit Academy, but if you feel ripe and educated enough to begin the demo trading click here to create your InstaForex Demo account and let's get practicing.
TIP* Once you’re up and running, play with the demo account for a few hours. Check the economic calendar, look for a price trend, and make some risk-free virtual trades. You’ll know when you are ready to start pursuing real results.
So before dropping your resignation letter or quitting that role, test your capacity on the demo account, the duration of your demo trading solely relies on you and after it you must be sure you have ready to go live and start earning real cash.
If you have gone past the demo stage and you are ready to make the decision to start trading live, then congratulations the next few steps are just for you!
Let’s get you started. The first step is to get access to the global markets through a secure and personal account.
Your 3-Step Guide to Opening a Trading Account
Step 1: Getting registered
It's very easy to open an account with InstaForex and If you want to get everything done in the next 10 minutes, be sure to have a snapshot of a valid government issued ID, snapshot of your passport photograph or a selfie (if you have none) and a screenshot of your signature written on a plain piece of paper. If you don't have them close by at the moment, I'll wait while you grab them.
Now that you have, you only need to fill in the step 1 and 2 form by clicking here.
Tip: Note that your account type should be set as standard and while choosing your leverage know that it is effectively an interest-free loan that the broker offers.
Leverage allows you to make a large investment from a small deposit. If you are looking for high profit with high risk, a higher leverage might be right for you. If you prefer slow-burning safety with lower results, then keep your leverage low. But don't worry, you can never lose more than you have, but higher leverage means faster results which could either be good and bad.
If you would not like to be charged swap for your overnight trade, you can tick the Islamic swap free account box on the account opening form and you will be excluded from being charged swap.
Step 2: Prove who you are
InstaFxNg takes security very seriously, and they check every client signing up. Just like opening a bank account, you'll need to prove who you are before getting access to the global markets.
But if you have followed the instructions in step 1 as instructed you will understand that you have all your verification documents intact already, so let's get started.
To submit your document, click here, insert your account number and follow the verification process until its complete.
Step 3: Start Trading, Making Profit and Earning Extra.
As a Forex Trader, you are not just here for the profit, you are here to seize every opportunity to earn extra, As you log into your MT4 and start trading for profit, do not forget that the profit is the primary goal and we have a program that will make you earn extra.
If you are not making profit, it means that, you have to go through an account audit or evaluation that would help you identify your weak spot and lead you to a consistent profitable trading experience before you start a full time career.
This would give you a view of how ready you are to become a full time trader. As you use our services at InstaFxNg, you stand a chance to earn rewards while you trade as a member of our loyalty reward program eveyday.
If you have followed the step 1-3 correct, it means you are already a member of our loyalty reward program and all you need to do to earn extra is keep trading.
To see how to earn more on the loyalty program, click here now.
I hope you enjoyed this series, as always I am leaving you with a question: "Would you ever consider becoming a full time Forex trader?"
Feel free to leave your answer in the comment section below.