how to create a passive income with forex

Social Trading

HOW TO

CREATE A PASSIVE INCOME WITH FOREX

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TradingMates.com | How To Create a Passive Income with Forex 1

HOW TO CREATE A PASSIVE INCOME

WITH FOREX

Who this report is for and why it is important …

The advances in online trading and the appearance of communities of experts

have now made investing available to individuals on a scale that was

unimaginable only a few years ago. Nonetheless, social trading is still one of the

least-known tools.

Anyone, independently from his or her level of experience, will benefit from

reading this report. You don’t need to be financially literate, and you don’t need to

be an expert trader to start benefiting from social trading. As you will see later,

social trading is a powerful tool that is revolutionizing the concept of investing.

The purpose of this guide is to let you become a part of this new era in

which financial freedom can be shared to the benefit of all.

Together, let’s build a community in which we can make

this dream a reality!


Introduction

What is Forex?

What is "Social Trading"?

What You Need To Start Earning Money in the Next 24 hr !!!

Start Smart


1. Introduction

When we started using this tool, we were newbies on trading exchanges, and fully skeptical

that a passive income could be made from it; nonetheless, we were willing to dig deeper into

the matter and to find out its potential for earning. Within the first month, we were already

making a lot of money, but we never stopped to look for opportunities to reduce our risks and

to improve our returns.

The most incredible part of the story was that we were like pioneers in a no man’s land: While

almost everyone has a vague idea of what trading is, almost no one knows exactly what social

trading is and how to make money with it—and even among those who know about it, there

are still too many unknowns and mistakes that keep them from creating a stable passive

income. We went through most of these unknowns and mistakes, and we learned how to

avoid them and how to pave our way to success.

Be reassured that we currently do NOT receive any direct or indirect compensation or fee

from any company cited in this report! Our aim is to honestly and independently provide you

with the best updated information available. We constantly test and review the actors

involved with forex trading in order to improve the quality of what we deliver to our

community. If, for any reason, you are not yet a part of our community, you can join us here,

to get free updates and to help us to grow together!

In the pages that follow, you will learn how you can benefit from social trading, and you will

build a background to understand how you can start to be a part of this revolution.

Keep reading!

http://socialtrading.tradingmates.com/


2. What is Forex ?

The foreign exchange, known as forex, is the largest, most active, and most exciting financial

market in the world. Largest, because of the volume of transactions, from 1 to 4 trillion dollars

per day! Most active, because of its 24 hours per 5 days of market activities.

At his hearth forex trading, or currency trading, is about speculating on currencies value

against others. As the professional traders Alex Nekritin and Walter Peters state in their book,

“Naked Forex” , forex traders buy and sell countries, they are <<basically buying “shares” in a

country, just as a stock trader buy shares in a company>>.

Money can be made whether a currency is gaining value or losing it. For instance, forex

traders can sell EURUSD pairs whenever forecasting the euro to weaken versus the dollar, or

they can buy EURUSD if forecasting the opposite scenario.

Let’s be clear: Speculating is not betting! Speculating is taking a calculated risk to seek a high

return over a very short time period (minutes, hours, or days) as opposed to investing when

the goal is to minimize the risk for a return over a long time period (months or years).The

forex market is not only the largest and the most active one, but it also offers many other

interesting advantages over other investment options. Here are the most compelling pros:

- Free demo account: Most of forex brokers allow customers to play with a demo

account before going live with real money, giving you the possibility to test your

strategies.

- Forex trading can start with very small investments. Anyone can open a trading

account with an investment as low as $200.

- High liquidity: Liquidity is so high that orders are almost immediately filled

without the need to wait for a buyer or a seller.

- Absence of insider trading: While in the stock market an insider can take advantage

of small investors, in forex, the volumes are so high that no single investor or fund

can control the market of a currency pair.

- Few pairs attract most of the money, specifically EURUSD, EURCHF, GBPUSD, and

USDJPY. In the stock market, the money is spread over several stocks to be tracked

for investment.

Now you will be wondering, “I am not a currency expert, I am not a trader, I am not able to

calculate the risk, and I don’t have the time to follow the forex market.” Yes, that’s exactly

how we felt at the beginning!

Keep reading, and you will find out why those reasons will not keep you away from profiting

from the forex market.

Note : It’s not the purpose of this guide to explain in details forex market, you can find more free online

resources, google:“Forex”.


3. What is “Social Trading” ?

Social trading is a tool that allows expert traders to share, in real time, their trades with

potentially anyone who has an Internet connection. Looking at social trading from those two

angles is essential to understand why this is a revolution able to open the door to passive

income for anyone.

On one hand, expert traders can leverage the Internet to share ideas, detailed and proven

results, and statistics on their trading system with everyone.

On the other hand, any new trade can be shared in real time, allowing anyone to

automatically copy the same trade in real time and to benefit from it.

Several communities and platforms already allow traders to expose their trading history and

to be followed with a signal subscription free of charge or with a monthly fee as low as $20. In

the next chapter, we will discuss in detail the most popular communities and platforms for

social trading.

Do you get the big picture now? You absolutely do NOT need to be an expert trader, and you

do NOT need to spend time actively trading on your own. All you have to know is how to

copy from the experts.

Too good to be true? You certainly have often read sentences like this one: “If they are making

so much money, why would they share it with you?”

The trick to social trading is that expert traders can make a lot of money only if they share

their success with you. The more followers, the more money they will see flowing into their

pockets, thanks to broker commissions or followers’ monthly fees. And if traders want to

continue to earn that money, they have to continue to be successful traders or risk losing

their followers…and most of their monthly income with them.

On the other hand, subscribers can see a return on investment that is on a completely

different level compared to the stock market or the bond market. If a safe investment in the

stock market can bring you, on average, 7% annually, very expert traders in the forex market

can make 50% annually, with a risk as low as 0.5%. And for those who are risk-tolerant, the

forex market can grant up to 300% or more annually.

This is the true power of social trading.

Now that you know that forex is the most liquid market, and social trading is the best way to

access it, let’s see what it actually takes to start making money.


4. What You Need To Start Earning Money in

the Next 24 hr !!!

All you need to do to start leveraging on social trading is the following:

Choose an Online Broker.

Choose a Social Trading Platform and a Trading Execution Platform.

Choose a virtual private server (VPS).

Let’s dig into the details.

Choose an Online Broker

In order to place trades, you need a broker. Essentially, a broker is a third party, between you

and the market, which allows your transactions to be properly and timely executed by the

main commercial institutions operating on the forex.

There are so many online forex brokers that it is essential to know how to find a good and honest firm

through which to open an account. This is our suggested check list:

- Is it regulated?

Remember that regulation is protection! All regulated brokers have to comply with

strict rules that are meant to keep both you and the broker safe from fraud.

- When was the forex broker established?

A company that has been on the market for a long period is, most probably, a

company that is trusted by its customers.

- Trading conditions.

Broker companies gain money on spreads (the difference between the buy and sell

prices for each pair of currencies). The spread has to be variable to avoid fraud, and

has to be low. The higher the spread, the more money the broker will make from

your trades.

Besides the spread, the trading execution platforms that the broker supports could

make a difference in how fast the orders are executed and, even more important for

us, their systems could not be compatible with the social trading platforms.

- Deposit/withdrawal conditions.

Your funds have to be in segregated and insured accounts. The withdrawal has to

be easy and without limitations. Check, specifically, the deposit and withdrawal

conditions before committing your money with a broker.

Here is a list of some of the biggest and more influential broker on the forex market:

- Alpari (UK) Limited, http://www.alpari.com/

- FXCM Inc., http://www.fxcm.com/

http://www.alpari.com/

http://www.fxcm.com/


- OANDA Corporation, http://www.oanda.com/

- XM, http://www.xm.com/

Some brokers attract customers with bonuses on deposits. Don’t be fooled by bonuses: These

funds are not money that you can withdraw under any condition. They are just kind of

credits that increases the amount of risk you can take before the game’s end. Given that we

will not be trading on our own, they are of very little meaning to us.

Choose a Social Trading Platform and a Trading Execution Platform

There are several communities that allow for subscription to expert traders’ signals. The

communities differ for configurability and supported trading execution platforms.

Each community provides possibilities for exploring the history of the traders and gives

aggregated key information to evaluate the profitability and the risk related to each trader’s

strategy.

When a signal from a trader is subscribed to and it is synchronized with the trading execution

platform of your broker, each trade that is opened by the trader you are following will be

automatically opened on your broker account. Every successful trade will result in a profit in

your account, and every losing trade will result in a loss in your account.

Here are the most popular social trading platforms::

- MQL5, http://www.mql5.com/

- MyFxbook, https://www.myfxbook.com/

- FXJunction, https://www.fxjunction.com/

- SimpleTrader, https://www.simpletrader.net/

- ZuluTrade, https://www.zulutrade.com/

MQL5, FXJunction, and SimpleTrader require the MetaTrader 4 (MT4) or MetaTrader 5

(MT5) to synchronize the signal, and the broker has to support such trading platforms.

The MT4 and MT5 have to be installed locally on your laptop and configured in order to

support the signal synchronization. Typically, the brokers that support such platforms

provide a customized version of them directly downloadable from their sites. The installation

is very easy and straightforward.

SimpleTrader also support a direct integration with the broker account, but this requires

you to provide your broker account password. We suggest that you do not provide your

password to anyone. That said, most brokers allow the withdrawal and deposit of money only

with credit card or bank account transfer details provided by you, limiting the possibility of

theft from your account(s).

ZuluTrade, MyFxbook are the only social trading platform that allows a fully web-based

integration and configuration of the trading signals with your broker. This is thanks to the

agreement between those platforms and the forex broker companies. Additionally, all the

http://www.oanda.com/

http://www.xm.com/

http://www.mql5.com/

https://www.myfxbook.com/

https://www.fxjunction.com/

https://www.simpletrader.net/

https://www.zulutrade.com/


signal subscriptions are always free of charge; this is possible because they earn based on

commissions’ rates on spreads agreed directly with brokers rather than commissions on a

monthly fee charged to the end user. Last but not least, They offer the widest configurability,

allowing for the creation of a portfolio of signals from different traders with different trading

strategies and with several settings meant to customize your risk according to your tolerance

for it.

The Virtual Private Server, VPS

As previously mentioned, the forex market is open 24 hours a day, and given that most of the

social trading platforms natively support MT4, it is necessary to have a computer with MT4

installed on it and that stays switched on for 24 hours a day—that’s to avoid wasted trades

and money. Even considering that you could afford to dedicate your home computer to this

task, it would be enough for your power to go out to miss precious order synchronizations

from your signal provider.

A virtual private server (VPS) addresses this problem, allowing you to have a virtual computer

always switched on and reachable from any place, and with an Internet connection. Besides,

VPSs are usually faster in synchronizing your trade between the signal and the broker,

minimizing the unrealized profits.

Be aware that most brokers offer VPS service at no cost with deposits of $5,000 or more.

There are also many third-party VPS providers with attractive quality-to-price ratios, but you

need to consider the location of the physical VPS server.


5. Start Smart Congratulation! You made it this far! You now know that you can leverage on the experience

of professional traders to create your passive income—and you can start immediately.

Our suggestion is to start immediately but to do it smartly. Keep in mind that the golden rule

is to never invest what you cannot afford to lose! Ideally it is better not to expose yourself for

more than one third of your saving across all your investments.

Our Products

If you want to leverage our experience to set your first account and SAVE TIME and MONEY in

costly mistakes, you can buy our guide :

“5 Practical Steps to Create a Passive Income with Forex”

http://socialtrading.tradingmates.com/5-practical-steps-to-create-a-passive-income-with-forex/

Contacts

For any questions or for more information, you can contact us at:

[email protected]



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Disclaimer: the material here provided is to be intended for educational purpose only. The content

gives no warranties of profit trading currencies and the authors are not liable for decisions based on

the information provided. In view of the ongoing changes in the Social Trading market, the reader is

urged to review and evaluate the information here disclosed.

Legal Notice: All rights reserved. No part of this book may be reproduced in any material form

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