How to Make Money Trading Forex

I am writing this to help, I am not trying to sell anything or telling

you this is the best way to trade forex. There are many better ways to
do it I am sure but I just want to relate how I do it and make money
day in/day out. Forex is an immensely complex set up and I know
many folks are keen to get into trading it. I am saddened by the
number of people who get ripped off by all sorts of scams, this is not
one of them.

If you have any doubts please stop reading now and move on and do
something more productive with your time.

I will be more than happy to get constructive comments or questions.

The two sites I am affiliated to are clearly shown and I am only

putting these in the guide as I have special arrangements to obtain a
trading bonus and help which greatly reduces your risk of failure
and it was not possible to get it any other way.

OK so now I am going to issue a warning regarding the nature of forex

trading: Trading Forex has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the financial markets. Accordingly, only
genuine "risk" funds that can afford to be lost should be used in such
trading. If you do not have this surplus capital you should not trade in the
foreign exchange market.

OVERVIEW

In this post I will tell you exactly step by step how I personally make
money trading forex using the MT4 trading platform and a trusted broker.
The system runs pretty much on autopilot with just a check each morning
and evening.
I have been making money using this method for the last four years. You
can do the same and make money.

My aim was to average a growth rate of my capital of 7% per month, as

by the laws of compounding you will double your investment every 10-
12 months. (Actual performance is variable depending on your risk
appetite, personally I aim for between 3 and 5 %)

This is not Binary options and it is not a get rich quick scheme and it
requires patience and effort on your part but I will show you exactly how
to do it.

I will also declare an interest in two of the sites you will need to sign up
to, the rest I am not affiliated to in any way, I just use them.

You may think what you are about to read you already know about, in
that case please carry on with what you are doing but ask yourself are you
really making a life changing amount of money or just playing around,
what I am about to show you has worked for me and it can and will work
for you.

The basic thread with much of my current business philosophy is ‘not re-
inventing the wheel’. For many years I thought you had to innovate to
build a successful business, that is not the case, life is too short, so try
what a lot of very successful people do, look around and see what other
folks are doing and if they are successful copy them or improve on what
they are doing.

HOW I STARTED WITH FOREX TRADING

I came to forex via a guy who was working on my house in 2013, he

considered himself an ‘expert’. He had spent a lot of money and time on
training courses over the years and was a bit of a demon at setting up
fancy charts and indicators on the MT4 platform. He really looked like he
knew what he was doing, I was very impressed with his knowledge. In
fact so much so when he came up with a wizard idea as to how I was
going to pay for my house renovations it looked like a brilliant
proposition.
I would open an account with a broker, deposit 5,000 Polish zloty, he
would trade the account and within one week he would have more than
doubled the account, I would get my money back and then he could carry
on making limitless amounts of money and I could pay him for the
renovations. Well a no brainer especially when he said that in the unlikely
event he lost the money, I could pick a job from his quotation sheet and
he would do it for free.

So off we go, it took him just over two days to lose the lot and he rebuilt
the gable end wall of the house for free.( yes it cost me 5,000 zloty the
quoted price)

What happened? I looked through the trades and if I had placed exactly
the opposite trades he had, I would have more than doubled my money in
those two days, he was when ‘trading’ like a demented woodpecker at the
key board. He blamed everything, including my internet speed the broker,
my computer, in fact everything except himself.

I decided to read up and have a go myself with a demo account, I was

hopeless, chasing my losses making stupid trades and realised by
December 2013 I was getting nowhere and decided that it was too
difficult and I should give up.

Then by chance I discovered that there was a bit on the MT4 trade
window that gave you access to expert traders and if you found out how
to do it you could copy them for free or there were some you could pay
for.

So had a play around with that, trouble was it was hopelessly unreliable
and I was not going to trust my hard earned money to it but it was a start.

I started looking at copy trading in general, there are many, many

systems, Zulutrade being a well known one, FX Junction, and some social
trading sites like eToro.
Also you could get signals either by emails or SMS.

Again trying them first with a demo and then with small live accounts I
just could not make money and could not understand why.

It was possible to try and copy traders making huge returns but when
plugged into any of my accounts they sometimes made a small profit,
which then quickly turned to a loss and a blown account.

My conclusion was that copy trading did not work, it was some sort of
scam or I was missing something. So during the first few months of 2014,
I read everything I could about forex trading and started to come across
traders who were making serious money for real. Plus I discovered lots of
scammers. The best site I found was The Forex Peace Army. Trouble is it
is a huge site and to take it all in would be a lifetime’s work.

Eventually from the FPA site I found one signals site that had a 5 star
rating so had a close look. The brains behind the site was a guy called
Nick Macdonald. Now Nick had been down pretty much the same route
as me and given up until he hit on the idea of getting on a plane and
hunting down Forex traders who were making money and persuading
them to let him copy their trades in real time with his accounts.

This worked a treat and he started making money and pretty soon he had
a new business which is still going and growing today.

So how do I make money with his system, it should be easy, right? Well
it is up to a point but there are a lot of things that you need to learn that
his site will not tell you and there is a very good chance you are going to
fail, even using one of the best copy systems going and a decent trader.

OK now you have two options.

 You can let my site First Avenue Solutions do all
the heavy lifting, all you have to do is open an
account with FxPrimus, pay a monthly sub and a
performance fee (59 GBP/mo plus 25% of the
monthly net profit on a high watermark basis.)

I will select the appropriate trader to suit your

risk profile and initial deposit. All of the VPS
and payment to the trader is included in the
subscription.

OR if you are competent with computers and can

follow instructions you can do the DIY version

 You can read exactly how to do everything

yourself in the instructions below.

TRADING FOREX, A STEP BY STEP DIY GUIDE

I have given you the overview and background so let’s get down to
how you are going to start making money, step by step. I advise
you to only use the broker and VPS recommended as I know
everything works fine and is compatible.
1. Broker. You need to open an account with FX Primus, I am an IB
with them and if you follow this link you will go in under my
network. Yes I will get a small commission but I have arranged for
you to get a 100% deposit bonus. This bonus if you follow through
the steps below reduces your risk level in trading by 50% which is
going to be very important as potentially it can also double your
returns.

The link to open the account is HERE.

The type of account to open is an ECN account with a leverage of

1:1

Currency is up to you but USD is probably the best as it is easier to

set up the copier and lot sizes.

You will need Picture ID and proof of address

Download the MT4 platform software for your device, let’s say to
your office computer.

Make sure you keep safe the MT4 passwords you get.

If everything has gone right when the account is open you should
in the members area see on the left had side a button for
promotions, go there and click on the Double Dynamo promotion,
if is not showing contact me directly and I will get it approved, do
not skip this and follow the instructions before depositing any
money, we will be discussing how much money to deposit later on
as it has a huge effect on the risk levels.

2. You need a VPS(Virtual Private Server) and you need this

particular one, a Basic set up with Forex VPS here.

Sign up for an account, you pay via Pay Pal. The cost is $34.99 per
month.

Yes again this is my referral link but this is the last one and you
need this particular company because it is part of Nick’s set up and
you get backup 24/7 which integrates with the signal system
 Do not think you can get away without a VPS, you will for a while
maybe but you will more likely blow the account because your
computer has some internet connection problem or is turned off
accidentally. Cutting corners here will not work.

Select a server in Manchester or London, England as this gives you

the lowest latency overall.

I use Windows server 2008 on my VPS, make sure you keep your
login, IP address and password.

Download the MT4 platform again from FXPrimus onto your VPS
terminal

3. Now let’s go over to the signals side of the set up. Go to Connect
Forex http://bit.ly/2hlVE7X on your office computer.

This is the business end of the set up and you need to pay special
attention to make sure you get everything right.

Sign up for an account and get onto the site.

First go to the top right hand menu and print off the user manual
pdf and read it.

Then you need to download the EA onto your MT4 platform

located on your VPS, take your time there are very specific
instructions in the user manual. If you are stuck contact email
support and they will do it for you.

The EA is best attached to the USD/GBP chart on your MT4

platform, only install the EA on the VPS on one chart.

4. You need to select which trader you are going to use now, so head
on over to the market place. You need to be doing this on your
office computer not the VPS.

Now there are some real high performing signals, 10% per day for
example but unless you are really experienced or desirous of
blowing your account in double quick time forget them for now
until you see how this works.
My strong recommendation is one of the Blackwave signals, either
Blackwave California low risk or Blackwave Pacific medium risk,
you get a one week free trial, they are what I use and the trader is
based in Dublin and has a good record.

I am going to explain now why most people have problems with

copy trading in general and how to avoid them, so pay close
attention.

This is the part where you are going to decide how much money it
is safe and possible to trade with. If you do not understand it do not
just deposit the money and hope for the best unless you want to
blow the account and end up with zero. So read below very
carefully.

You are going to be following a master account, when trades are

placed on the account, a copy is made to your account, likewise
when a trade is closed, it closes on your account. This is why the
VPS is vital, you need the connection with the master account 24/7.
Trusting to luck on your home or office PC is not a very smart
option, it will fail at some time.

OK so lets look at a situation:

a)

Master account has 5,000 USD

Copier account has 5,000 USD

Master account places a trade of 0.02 lots and a copy trade is

placed on the follower account of 0.02 lots.

b)

Master account has 10,000 USD

Copier account has 5,000 USD

Master account places a trade of 0.02 lots and a copy trade is

placed on the follower account of 0.01 lots
The copier scales down the size of the trade to take into account the
different equity size

c)

Master account has 5,000 USD

Copier account has 10,000 USD

Master account places a trade of 0.02 lots and a copy trade is

placed on the follower account of 0.04 lots

The copier scales up the size of the trade to take into account the
different equity size

OK SO WHAT COULD POSSIBLY GO WRONG HERE ?

What goes wrong is the copy software only works up to a point and
unless you understand the next example you are trading at many
multiples of risk to the master account and if the master account
goes into drawdown you could wipe out all of your money.

d)

Master account has 5,000 USD

Copier account has 1,000 USD

Master account places a trade of 0.01 lots and a copy trade is

placed on the follower account of 0.01 lots

The copier cannot scale down the size of the trade to take into
account the different equity size as the minimum lot size is 0.01
lots.

So why does it matter, well it matters a great deal because you are
now running at 5 times the risk of the master account so a small %
drawdown on the master account is going to be 5 times higher on
your account, so what looks like a low risk account to be following
becomes a very high risk one.

Decision Time
OK so this brings us to the decision, what account are we going to
copy and how much money are we going to put into our account.

I expect you want to put the minimum and see how it goes?

Let’s take an account I follow and use that as a low risk example.

Blackwave California

Master Account size: 3,000 USD

Max historic draw down 17.4%

Lot size looking at the closed trades data 0.01

So you could easily follow that account with an equity of 3,000

USD or greater.

In 9 months the account has gained 45%

Now this is where you are going to be glad you have an account
with FX Primus as you get a 100% deposit bonus and as you trade
you get some of it each time credited back as real cash.

Thus you can follow this account with just 1,500 USD of your own
money.

You are not going to make a profit though because you are paying
for the VPS, plus the trader you are copying. However you can try
out the system pretty much risk free and put more money in once
you are confident of what you are doing.

The other end of the spectrum is another account I follow:

Goldstar

Master Account size: 89,000 USD

Max historic draw down 26%

Lot size looking at the closed trades data 0.09

 So to follow that account you would need an equity of 10,000 USD
or greater unless you start to accept higher risk.

The message here is you really need to pick the signal you are
going to copy with great care and look at the history of the
signal not just in terms of profitability.

5. Copier settings

All we need now is to select a trader/signal to copy and set the

parameters and deposit some money into your trading account.

Go to the signal you wish to copy and click copy, you can set
everything up before you pay.

Account Settings

Account number and password

Connection method EA

You can have alerts by email and paid for SMS’s

Tick the box to disable the signal

Risk Management

Choose risk multiplier using account equity if you want to take into
account the deposit bonus.

Account currency (your account) This is not an exact science and

that is why it is best to have your own account in USD

Risk multiplier, leave at 1.0 or less re read my explanation of lot

sizing and be very careful what you do with this setting

Account Protective Settings

Maximum lot size, leave at zero unless you have an account much
bigger than the master account and wish to limit the lot size
 % Max Draw down. You can get the open trades closed when the
draw down exceeds a pre set limit. This is really a last back stop
and a very blunt instrument. I suggest you set it as a minimum just
above the max draw down historically of the signal or leave alone.
If a catastrophe happens it may save some of the account.

Advanced Settings

Set slippage at 7 pips as this seems to pick up the majority of trades

if you are using the VPS locations I recommended above

Copy take profit and stop loss, I usually just copy the take profit
levels as this avoids the broker seeing your stops.

Right so now you can pay for the signal and un tick the disable
signal box and look on the control panel and see what is
happening

Any open trades on the master account should be loaded as and

when they are in your favour, otherwise sit back and wait for the
trades.

If you have any problems get onto the email help and you will get a
quick response.

Should the above look too complicated, my website

www.firstavenue solutions offers an easier answer. I have 10 spots
open for new members and then that is it as we will be at capacity.
You can register using my name as referrer and the number 0001.

Most of you should be able to do it all for yourself though, Good

luck with your trading.

Important Links:

 FXPrimus The broker

 Optimised Forex VPS

 First Avenue Solutions

 Forex Signals Site

 My Direct e-mail: info:firstavenue.solutions