Forex Trading Made E-Z does it make money?As forex trading becomes more and more popular as a way to make money online, many people are looking for information on forex trading made easy expecting to make a fortune overnight. In fact it is not that simple to make money with forex trading. Forex (foreign exchange) trading has huge potential and certainly does make some people rich, but it is risky too. You need to know what you are doing and have patience and a cool head.

Many people who are new to the forex market will take the first system they see online and start trading on the basis of it without doing any testing and probably without even understanding the system thoroughly. Even if it is a great system you could lose money that way. Even the best forex trading system goes through bad patches. It is vital to allow for them by setting your risk low enough. If you don’t do that, a bad run could wipe you out.

Of course, it is also important to follow the system in its entirety to make money with forex trading. Do not try to cut corners just because something seems too complicated or takes more time than you want to give it.

For example, your system might tell you to consult two indicators on a chart before opening a trade. You understand the first indicator, but not the second. Or maybe you cannot find that second indicator on your chart. But it’s not okay to ignore it. If you go ahead on the basis of just the first indicator, you will almost certainly lose. That second step was there for a reason!

You will only have a chance to make money with forex trading if you understand that the perfect forex trading system simply does not exist. There is no holy grail system for forex trading made easy that will work for all traders in all situations.

Every system has its good and bad runs, and any system will suit some people’s trading style better than others. That is why it is vital to test a system before going live. This means both using a demo account and doing your own back tests. Do not rely on anybody else’s back tests because you need to know that you can operate the system correctly yourself.

Forex trading made easy means starting out with a system that is based on following trends in forex prices. When you follow a strong trend, you do not have to rely on predictions. Trying to predict the forex market is much harder than it sounds and not something that a beginner should attempt. It is much easier and more profitable to ride the wave that is already strong. Then all you need to do is identify when to close the trade.

Risk management is vital too. Every trader suffers losses from time to time and the only way to protect yourself is to keep the loss is as small as possible by using a stop loss. Even forex trading made easy as possible is never profitable 100% of the time, and you need to be prepared for that.

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The main point of any currency trading tutorial is to help you make money with forex trading. You do need some understanding of the currency foreign exchange (forex) market and the risks involved in speculative trading even if you want to use a hands off method of trading.

Hands off methods of forex trading include forex robots or automated trading systems, also known as expert advisors. These are programs that you download and install on your computer. They will communicate with a forex broker platform to trade for you automatically any time that your computer is switched on.

The second easy way to get into forex trading is through signing up for a forex alerts or signals service. These guys will watch the market for you and tell you when to trade. Messages will come in by email and/or SMS signalling the moment to open a trade, close a trade, and sometimes they will advise on the stop loss position to manage your risk.

Thirdly you can opt for a managed account. Here somebody else will manage your funds for you. Many of the best forex managers will only deal with large accounts, so this option may not be ideal if you only have a small amount of capital. Also, you should do your due diligence very carefully and check whether the management company is a member of any regulatory bodies that might protect you against loss or fraud.

You should be aware of course that forex trading is risky, like all speculative investment. Even if you are paying for one of these services there is no guarantee that it will be profitable at any particular time. All you can say is that it probably has a better chance of being profitable than you would if you went in as a beginner and tried to trade for yourself.

It is true that there are advantages in learning to trade for yourself through a currency trading tutorial or other training program. It does take time and you will need to use a demo account probably for several months, so you will not have any chance of making real money for a long time, but it has the advantage that you are not reliant on anybody else’s service or system. Once you have mastered the art of trading for yourself, you should be able to adapt your skills and always be able to manage your own account.

Many beginners start out with a forex robot or expert advisor and if you can pick up one of the best ones and set it up right, this can be a good option. However, you do need to be familiar with the basics of forex trading just to understand the settings and manage your risk. Risk management is one of the most important aspects of currency trading – get this wrong and you can go broke even with a profitable system, because you will not make enough allowance for the inevitable losing runs. So when you are looking for a currency trading tutorial, make sure you get one that covers risk management in detail.

If you want to learn day trading for the forex market then you will want to know about forex scalping. Scalping is a quick and apparently simple technique that many traders try at some time in their trading history. Some become addicted and never consider any other strategy.

However, other traders find it too stressful or run up against another problem and revert to longer term strategies. You may hear them say that scalping is too risky, but then so is any forex trading strategy. You may also hear that scalping is one of the most difficult ways to make money with currency trading. But then the people who do it every day will say that the opposite is true. Who do you believe?

There are certain disadvantages to scalping which need to be taken into account when you want to learn day trading. First, the brokers often do not like it and may close your account if you are successful. This is particularly likely with market makers and other brokers who operate by matching your trade themselves and then seeking to cover their position in the market. They do not like it because the quick in and out nature of this technique means that they do not always have time to arrange their cover, so if you win, they lose. There is also a way of scalping within the spread that prevents some brokers from collecting their due profits.

Because of this, if you want to apply a forex scalping system, whether manual or with a robot, it is best to check with your broker before you start and be prepared to switch if there is any problem.

If you are a beginner, it is best to get your experience in longer term trading systems before trying forex scalping. Beginners do not tend to do well with this technique, often because they are attracted to it for the wrong reasons. For example, they want to make quick profits. Sure, you can do that, but you can make quick losses too. Beginners often have trouble handling the losses and may panic under pressure, making bad decisions for the outcome of their trade.

Some people feel more comfortable with forex day trading strategies, including scalping, because it means they do not have to leave a trade open for very long. Again, in most cases this is a fear based motivation and not a good reason for adopting this strategy. If you feel very stressed out by the idea of leaving a trade open while you take time out or sleep, you should try to adjust to that by trading with very small amounts in a micro account at first. Do not take up scalping which is even more stressful.

The market changes fast and it is unforgiving. You can easily be caught out if you do not have a lot of experience and a cool head. Having said that, if you do have these qualities, then armed with a good forex scalping system you can learn day trading and make it very profitable.

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If you are tired of struggling to work out your own signals for a successful trade in the forex market, you may be thinking of signing up for a forex signals or alerts service. These are messages sent out by a company that will analyze the market for you and advise you when you should open or close a trade based on their system.

Forex alerts may include other information, such as guidance on where to set your stop loss. This can be very useful, especially if you are new to currency trading. However, do not place too much importance on this. The stop loss regulates your risk so it is probably better to calculate it yourself according to your own fund size and how much risk you can personally accept.

As with all forex systems, it is best to test the forex alerts on a demo account before you go live. This will give you a good idea of how the system works and whether it is likely to take you out of your comfort zone, particularly in relation to losses. There will be some losses and it is important that you get used to the idea of that and do not lose confidence whenever the alerts are not 100% correct.

Many people have a problem with testing out something that they are paying for. They want it to cover its costs right away. This is understandable but if you think about it, you can see that you will have more chance of making money in the long term if you become familiar with using the forex alerts in a risk free way at first.

Some companies will send their forex trade signals free for a certain time on a trial basis. This gives you the chance to test without feeling that you are wasting your money on the fees.

When it comes to paying for forex signals, providers may either require a monthly membership fee or charge on a per signal basis, or possibly a combination of the two.

Forex trade signals are usually sent by email or by SMS. Often you will pay for SMS alerts through your phone company. It can be cheaper to receive them by email only and some people do this if they have good access to email. It does mean of course that you are tied to your computer to a much greater extent.

You would probably want to shop around and get a few recommendations before you join a forex alerts service. Forex trading forums are a good place to pick up information about other traders’ experiences with these companies. You may also be able to compare the results. Keep in mind, however, that results published on the company’s own website may be chosen carefully to cover their more successful periods. An independent site which proofs the results by receiving the forex signals at the same time as customers would be more reliable.

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FX trading is a risky business as I am sure you know. It can also be extremely confusing. If you do an internet search you will find so many forex systems, plans, strategies, tactics and techniques that it will make your head spin. All of this seems designed to get you to buy into yet another system that will probably be no better and no worse that the one that you have already.

Many times, traders are easily diverted even though they know that if they could only stick to one thing consistently they would have a much better chance of success. So what drives us away from the path that we know could lead us to success? The answer, most all of the time, is fear.

Fear of failure

We may be under a lot of pressure to make money with forex trading. The pressures can be internal, in our own minds, or external, coming perhaps from a spouse or friends who challenge us to make good and make money. At the same time, we may lack confidence either in ourselves or in our system. We keep seeking out more foreign exchange tutorial information instead of getting started with actual trading.

Getting over fear of failure is pretty simple if you can start to see everything as a learning experience. In this way of looking at life, there are no mistakes, only learning opportunities. It will help if you reduce your stress by keeping your risk low and testing your system thoroughly in demo before going live.

Fear of success

Fear of success is often harder to deal with and it is surprisingly common in our culture, especially if we have grown up in a family or subculture where successful people are disliked or mistrusted. Parents often instill the fear of success into their kids without even realizing it.

For example, your parents may have taught you that being good or popular was more important than being financially successful. Fine, except that it is easy for a kid to interpret this as meaning that successful people are not good or popular.

Often this belief will be internalized so that as you grow up you are not even conscious of it. But as soon as you get anywhere near financial success, something always goes wrong. You screw up. Why? Because somewhere deep inside, you believe that if you are successful, you will be a bad person and everyone will hate you. That’s fear of success, and it will wreck your chances of making money from forex trading if you do not deal with it.

Master your fears: the secret to success

You can help yourself out by taking small steps to success. Trick yourself by setting small, easily achievable goals that pretty much anybody could do. Do not have goals that involve huge amounts of money or luxury goods. Do not let yourself daydream about those things, either. Concentrate on increasing your funds by 20%, then when you did that, another 20%. Nobody is going to hate you for having 20% more in your investment account.

If you need further reinforcement, take a look at some successful forex traders that you know online. It will soon be clear that they have not become different people since they learned to trade currency profitably. In the end, all you have to do is give yourself permission to be successful. That is the message of this foreign exchange tutorial.

One of the most important pieces of forex information that you must have if you are going to have any chance of making money with forex trading, is how to set up your trading plan. Having a good solid plan that you can stick to, will make all the difference between profit and loss for many people.

Remember that the majority of people starting out in forex trading lose money, so it is vital to do everything you can to make sure that you are one of the successful ones. Having a plan will give you a good start over most people who just start trading with no idea of where they are going.

Having a profitable system is important of course but there are many of those out there. Most people think that the system is the only thing that matters and spend all of their time searching for the perfect system that is guaranteed to make money for anybody. But no such system exists. Although there are a lot of good systems, no system will be successful without a trading plan that is tailored to the individual trader.

This means that you need to work out your plan for yourself. Do not be alarmed however because it is quite simple. Your plan just needs to include three things:

1. Position size

This can be expressed in the number of lots that you will take on each trade. It may vary according to the strength of your signals or it may be the same for every trade, but it should be clearly set out. Do not vary your position size according to intuition, and do not vary it according to whether your previous trade was successful or not.

When you are deciding on your position size, you should also consider your leverage and what percentage of your total funds will be committed to a trade. This is part of your risk management strategy and it is important forex information that you should always have at your fingertips.

2. Stop loss

Your plan should include a stop loss, expressed in terms of pips. Again you should consider the risk that you are taking as a percentage of your overall funds. In most cases you could aim for a risk of around 2% per trade. However, with some systems or if you have a very low starting fund, you may want to go higher than that to avoid your stop loss being triggered too often. Just be aware that if you do that, you have a greater risk of going bust.

3. Profit level

You should also set the exit point for a successful trade, i.e. how many pips you are aiming to make. If you do not set this you will often be tempted to hold out as long as possible, hoping that the trend will continue your way. Often times you will be caught out by a sudden reversal and a profitable trade could be turned into a loss. So it is very important to decide ahead of time how much profit you will take.

Once you have your plan, it is important to keep to it consistently. Avoid the temptation to trade when the signals are not quite right, or to follow your gut feelings in anything, at least until you have many years’ experience of the market. Also, reduce distractions while you are trading. This will help you to avoid making stupid mistakes and keep you concentrated so that you can make the best of all of the forex information that you have learned.

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Sure you can pick up currency trading basics fast. Many people get completely lost in charts, indicators, software platforms, fundamental analysis, commodity currencies and so on until they hardly know where to begin. But the principles of forex trading are really quite simple.

Currency trading is available to anybody with a high speed internet connection. It is a very special type of investment opportunity that offers the possibility of making a lot of money and becoming financially free. At the same time, it is very risky. People who are drawn in to start trading before they know what they are doing are likely to lose money.

Whether you are a beginner or a successful trader, you will need to take account of these 5 golden rules to increase your profits from forex trading.

1. Understand your forex system

You will need a profitable system to start trading on the currency markets. This is simply a set of rules that tell you when the market conditions are right for opening and closing a trade, what your position size should be, etc. There are many systems available online through ebooks and videos, or you can develop your own by trial and error using tips that you can pick up on websites such as ours.

But whether you figure out your own forex trading system or invest in one that is known to make money, you must test it for yourself in a demo account before you go live. This will ensure that you can make it work for you and it will give you a chance to fully understand how it works. You should not be risking real money until you are sure that your system works.

2. Be consistent

Once you know that your system is going to be profitable for you in the real market, you should have confidence in it and not be discouraged by the occasional loss or diverted by advertising for other systems. If you keep switching systems, opening trades based on your intuition or changing the rules of your system after you go live, you will only lose money.

3. Cut your losses

All systems will have a proportion of losing trades and you better be ready for them. The way to do this is to always have a stop loss that will be triggered to minimize your loss when things go against you. Never hold on, hoping that a bad trade will come good. Get out fast and wait for a better trading opportunity.

4. Learn from your mistakes

We all make mistakes and there is no point beating yourself up over them. However, make sure you learn from them before you forgive, forget and move on. Whether it was a distraction that made you enter the wrong figure in a box or a temptation that you gave into, it is worth making a note of what happened in your trading records.

5. Do not get excited

Forex trading can be an exciting business but it is very important to stay calm when you are trading. Early success may lead you to become over confident and start risking too much. Avoid that temptation. Early failures can discourage you and make you give up too soon. Do not let your feelings dictate your trading.

If you put our golden rules into practice in your own trading, you will soon see how you can overcome the complexities of the market to make the currency trading basics work for you.


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Grab your copy of Forex Trading Made E-Z now before he wises up and takes it off the market!




Forex trading systems that are based around following a trend are likely to be both simple and effective. It is well known in the currency trading world that the trend is your best friend.

It is very easy to create trend lines on any forex chart, but most people prefer to use candlestick charts for this because the candlesticks are such a clear visual signal. When trend lines are forming, you can use them as a signal to buy or sell the currency pair.

The first step in using trend lines for forex trading systems is to determine whether the market is rising, falling or is stable within certain parameters. Of course there will always be fluctuations, but at certain times you will see clear patterns.

1. If the price is rising

If the price is going up, first draw a straight line through the highest highs on the chart. This line will be sloping upward. Then draw another line through the lowest lows on the forex chart. If this line is also going upward and is approximately parallel to the first, you have an upward trend.

You can then use these two lines as support and resistance lines. This means that you can assume that while the trend continues, the price will remain in the area between these two lines. Therefore, any time that the price hits the top line you could sell, on the assumption that it will fall back. In a sense this strategy means going against the trend, but you would only hold that position for a short time.

Alternatively, any time that the price hits the bottom line you could buy, on the assumption that it will soon rise again. In this case you are following the trend which is often a better strategy. However, you must keep in mind that there will at some point be a true reversal and you may be caught out by this.

2. If the price is falling

If the price is going down, you can follow a similar method to the previous system. The lines you draw will be going downward but you would still buy when the price hits the lower line and sell when it hits the upper line.

3. If the price is stable

If the price is really not going anywhere, then the lines that you draw through the highest highs and the lowest lows will either be horizontal and parallel to each other, or they will be converging (drawing closer together) or diverging (drawing apart). If they are horizontal, you could use them as support and resistance lines in the same way. If they are diverging, it is not a good time to trade. Wait for a trend to form.

If the lines are converging, they may indicate a breakout. In this case you should not treat the lines as support and resistance lines but wait for the price to go beyond either one of them and continue in that direction. So if the price breaks above the upper line you would buy, expecting it to continue in that direction for a while. Equally, if the price breaks above the lower line, you would sell.

Like all forex strategies, these are not guaranteed. There is always a risk of trades going against you, so you should check your signals against other indicators and always use stop losses. Always test your forex strategies in a demo account before going live. These steps will help you to develop simple but successful forex trading systems.

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What is currency trading? Also known as forex or foreign exchange trading, it is a way of making money online that you may have seen advertised on TV, in magazines or online. Forex and FX are simply short ways of referring to foreign exchange which involves buying and selling currencies on the world’s financial markets.

Of course, exchanging currencies is something that people do all the time when they go on vacation or on a business trip overseas. You simultaneously sell your own country’s currency and buy the currency of the country that you are visiting. Businesses are also involved in currency transactions when they import or export goods.

However, foreign currency trading is very different from this. It is a speculative investment, which means that the trader does not really want the currency that he is buying. He is just investing in it with the hope that it will increase in price. Later, he will trade it back.

Access to the global market is provided by forex brokers who allow the small time trader to find somebody to exchange with. This is all done online and almost instantly. Just about anybody with a computer and a broadband connection can become involved. The market is even open 24 hours a day Monday to Friday so you do not have to be online during the daytime if you have other commitments.

All currency transactions involve an exchange, because you have to give one currency in order to get another. This means that you are always dealing in two currencies. These are known as currency pairs. Each currency has a three letter code, for example USD for US dollar, EUR for euro, GBP for British pound. The most traded pair is EUR/USD, the euro and US dollar.

Traders are able to control much more money than they actually have themselves. This is called leverage or trading on margins. It works through a broker. You would invest a certain amount in your forex trading account with the broker. Let’s say you invested $1,000 in a mini forex trading account. When you wanted to open a trade, you might put up $100 of that. If you used 100 times leverage, which is pretty low for the forex market, you could control a trade of 100 x $100, i.e. $10,000.

The broker guarantees the remaining $9,900 but he does not have to risk losing his money because he can close the trade if things go against you and you lose what is in your account. Of course, you would not want to risk all of your money, so you would put in place what is called a stop loss that would close your trade automatically if you started to have a loss beyond a certain point. In this way you could limit your risk to $50 or less. You would not want to risk more than 5% of your funds which would be $50 on a balance of $1,000.

Most experienced traders recommend risking less than this, say 2%. This is a very important question because risk management done well or badly can make or break the forex trader. If you are thinking of getting into financial forex trading you will understand that it is risky and not all of your trades will be successful. You could have several losses in a row or a slowly decreasing fund balance. It is vital that your risk per trade is low enough that a good part of your funds will remain intact through a situation like that, so that you can recover the balance later if things begin to go well again. It is also important to be able to remain calm under pressure so that you do not make mistakes at critical moments.

The advantage of leverage is that it allows a successful trader to make a lot of money in a short time. However, it is important to remember that money can be lost quickly too. Fortunately, most brokers offer a demo account facility so that you can try out the system and practice your forex trading skills without risking any real money.

Now you understand what is currency trading. But did you know you can get a currency trading robot to trade for you?

Our top recommendation for a currency trading robot is FAP Turbo which has been getting great results for ordinary users and in the independent tests that we have seen online.


Forex mini accounts attract many beginners to forex trading. These usually allow you to trade one-tenth of the standard lot size, which means that it is possible to trade with only one-tenth of the investment capital that you would need for a standard account.

Standard accounts date back to the time when forex trading was done by telephone connection with dealing desks. At that time there were very few private individuals involved and those who were, usually had plenty of money. It wasn’t cheap or easy before the internet so there would be no point unless you had a lot of money to invest. For this reason, standard accounts usually require a minimum investment of over $10,000 and some brokers require $50,000. From this type of account, if using 100 times leverage, a trader would stake 1,000 currency units to control a standard lot size of 100,000 currency units.

However, these days the internet has put forex trading within the reach of ordinary people who probably would not want to invest so much money from the start, even if they have it. To cater for these individuals, brokers began offering mini accounts where the lot size is one tenth of standard. That means that with 100 times leverage you stake 100 currency units to control a mini lot of 10,000 units.

Although the currency unit that you are dealing with might not always be dollars, for convenience we will assume this means that you are staking $100 on each trade. Think about that for a moment, because if you are not comfortable with that amount of risk, you probably should not be considering mini forex trading accounts.

The alternative is a micro account where you would trade with ten times less again. So generally this means staking $10 to control a position size of $1,000. Of course, your profits will be ten times less – but so will your losses.

It is important to think carefully before you start trading with a forex mini account. Many people are drawn to opening mini forex trading accounts with the absolute minimum of funds because they want the higher profits. What they do not think about is the risk. Of course you can set stop losses so that your risk is lower than the amount staked on the trade, but it is important to have the stop loss at the optimum point for your system so that it is not triggered by minor fluctuations.

So how much capital should you have to open a forex mini account with relative safety?

Some brokers will let you open a mini forex trading account with just $250 but it is much better if you have at least $1,000 and preferably $5,000 available for your trading, even if you do not put it all into the broker account right away. You must be able to withstand the occasional run of losses, both psychologically and financially. If $250 is all that you have in the world, you would be better advised to open a micro forex trading account. Forex mini accounts are too risky in that situation.