How To Turn $500 Into $150 Million Trading Forex And Commodities?

Super Profit Scalper

Can you turn your $500 into $150 million trading Forex and commodities in the next few years? You might say it is impossible. Well, this is exactly what Richard Dennis did in 1970s and 80s. Richard Dennis once upon a time was a small time trader. He started with only $500 and over the next decade turned that small amount into a fortune of $150 million. Today, he is considered to be a trading legend.

Let’s take another example. Bruce Kovner was once upon a time a NYC Taxi Cab Driver. He wanted to trade Forex and commodities but didn’t have any money. So, he borrowed $3,000 on his master credit card and made his first trade in soybean futures contracts. He made $40,000 in that trade and then watched that amount drop to $23,000.

This was his first trading lesson that taught him the importance of risk and money management. He once said that the most important thing in trading is risk and money management. Over the next few decades he made a fortune of around $4.5 billion. Today, he runs his own hedge fund Caxton Associates, LLC that is ranked amongst the top 10 in the world.

These two stories illustrates one simple fact that is plainly overlooked by most. You don’t need a large sum of money to succeed at trading. What you need infact is proper training, the right methods, patience, persistence and of course discipline. What you should do is start small and over time compound that small amount into a fortune.

If you have been thinking about learning Forex and futures trading but postponing it because you didn’t have large sums of money, then you must know this fact that you can start trading with even $200 on micro lots and over the next few months turn that into a few thousand dollars. Then turn those few thousand dollars into a few hundred thousand dollars.

But to do that you will need the right training and the right trading system. Most of the info is now freely available online. Some of the free Forex trading systems are real good. First practice that trading system on your demo account. Market will be always there waiting eagerly for you to attack them. So don’t rush! First prepare yourself by getting proper training and then practice what you have learned. Once, you have mastered your trading system, start with not more than $500 and trade micro lots. Grow that $500 into $4,000 in the next few months. This will be the best Forex training you will ever get! Once, you have done that. The road is all open for you to make a fortune trading forex and commodities.

Mr. Ahmad Hassam has done Masters from Harvard University. Watch these Forex Income Engine Trade Alert Software FREE Forex Training Videos. Try the Macro Millionaire Coaching Program RISK FREE for 90 days!

4 Principles of Choosing Automated Forex Trading System

SetForget Pattern Profit

Charts, graphs, tables, analysis… If you start online trading forex, all these things come into your life immediately. A smart forex trader quickly figures out that it is impossible to make money on forex without a good trading strategy. And creating such a strategy can be very time-and-effort-taking, since currency trading demands always keeping a watchful eye of the forex market and currency prices. And this means charts, graphs… and you know.  Is there a way out to spare you all these “delights” and to make a profit at the same time? Yes, with the advent of computers and the Internet it became possible for everyone, and this way out is called automated forex trading systems, or forex robots.

If you search on the web, you’ll find out that there are a number of forex trading systems on offer.  But how to choose the best forex robot that would suit your needs?  That would become your helping hand and a reliable advisor in the tough world of currency trading?

Let’s review some points that will help you not to get lost in the diversity of forex trading systems.

  1. Chose your type of control
  2. Generally, there are two types of forex trading systems, which differ on the level of control they provide the trader with for making operations. The first is an automated signal system which makes a forex signal for the trader to enter or exit the trade. It is based on a set of market conditions prearranged in an algorithm. This type of system provides more control, since it leaves the decision whether to make an order or not to the trader. Second type of forex robots is fully automated forex trading system, where the trader even doesn’t have to enter the orders – it will be done by the system itself in case it “decides” that this is a profitable deal. It doesn’t leave much control to the trader.

  3. Search for reliable and tested software
  4. It’s better to choose the forex EA which has been successfully used for live account trading for a year or at least three months. It means that the system has proved its effectiveness in currency trading.

  5. The more currency pairs – the better
  6. Focus on a system that is optimized for dealing with at least 5 currency pairs – in this case you have more trading opportunities.

  7. As easy as can be

Your forex robot is supposed to be easy to install and set up, which means that it will be user-friendly and not complicated at all! To use such a robot is as easy as can be both for the novices and experienced forex traders.

 

Article was written by Alexander Collins. Founder and creator of forex expert advisor which works profitable sicne launching in 2007.

Canadian Dollar is a Commodity Currency Profitable for Forex

Pips Wizard Pro

To start with, Canada is considered one of the ten largest crude oil exporters in the world, and this makes its currency, Canadian dollar, very lucrative for Forex traders who like to speculate on the oil prices. This speculation appears to be very profitable, since the loonie (as the Canadian dollar is often called) is a classical commodity currency.

The essence – when the oil prices are rising, Canadian dollar strengthens respectively (against US dollar in particular), since price for oil is denominated in the greenback. Accordingly, forex trades prefer to go long for the US dollars and to go short for Canadian ones when the oil prices are falling. It must be mentioned that this strategy appears to be very beneficial for the Forex traders in the majority of cases.

Every Forex trader willing to make profit on the Canadian dollar should keep in mind that one of the key factors supporting the strength of the Canadian dollar is the closeness of the two major stable buyers of Canadian oil – the USA and Japan. What is more, Canada is said to have the second largest reserve of oil in world, which is important in the context of constant flourishing demand for this commodity that is most likely to continue in future. This results in the fact that Canada and Canadian dollar are ready to meet and satisfy the world demand for oil.

As far as Forex market analysis is concerned, when using technical charts in order to spot the correlation between the Canadian dollar performance in relation to the oil, it becomes obvious that this correlation is very tight. It means that if the Canadian oil takes the leading positions, its dollar’s value rises, too. Thus, oil movements turn out to be a reliable indicator which prompts a Forex trader whether to sell or to buy the Canadian dollars.

Another thing to remember is that one more way to speculate on the correlation between Canadian dollar and oil is exchange-traded funds concentrated on the Canadian currency.

However, the main conclusion is that relations between Canadian dollar and such commodity as crude oil which is Canada’s major export are very profitable for forex trading. In particular this refers to the USD/CAD currency pair. In addition, the price action of the oil indicates to the trading opportunities as far as Canadian dollar is concerned.

 

This guest post is written by Alexander Collins who is a founder of Forex company. Forexeasystems can offer every trader wide range of forex trading systems that work since 2007.