How to Create a Passive Income With Forex

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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 dont need to be financially literate, and you dont need to be an expert trader to start benefiting from social trading. Social trading is a powerful tool that is revolutionizing the concept of investing. Step Inside!

TRANSCRIPT

  • Social Trading

    HOW TO CREATE A PASSIVE INCOME

    WITH FOREX

    TradingMates.com

  • 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 dont need to be financially literate, and you dont 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, lets build a community in which we can make

    this dream a reality!

  • TradingMates.com | How To Create a Passive Income with Forex 2

    Introduction

    What is Forex?

    What is "Social Trading"?

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

    Start Smart

  • TradingMates.com | How To Create a Passive Income with Forex 3

    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 mans 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 itand 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!

  • TradingMates.com | How To Create a Passive Income with Forex 4

    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 .

    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.

    Lets 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 dont have the time to follow the forex market. Yes, thats 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 : Its not the purpose of this guide to explain in details forex market, you can find more free online

    resources, google:Forex.

  • TradingMates.com | How To Create a Passive Income with Forex 5

    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 followersand 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, lets see what it actually takes to start making money.

  • TradingMates.com | How To Create a Passive Income with Forex 6

    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).

    Lets 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/

  • TradingMates.com | How To Create a Passive Income with Forex 7

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

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

    Some brokers attract customers with bonuses on deposits. Dont 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 games 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 traders

    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

  • TradingMates.com | How To Create a Passive Income with Forex 8

    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 daythats 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.

  • TradingMates.com | How To Create a Passive Income with Forex 9

    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 incomeand 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.

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