How To Start Forex Trading In Malaysia – Housewife Earns Extra Income by Trading Forex Part Time

September 4, 2010 by  
Filed under Forex Trading Market

How To Start Forex Trading In Malaysia

In Japan and Korea, there are millions of housewives who are trading foreign exchange currency online part time and making small daily profits to earn extra income. In fact, there are an estimated more than 40 million educated forex traders are trading forex online for living.

In a recession time like now, less money made from the Husband caused less money given to the Housewife as well. When many companies are retrenching and pay cutting, the income of the Husband, who is the only one who make money, would be definitely affected. Therefore, the Husband might also provide less and less monthly allowances to the housewife for food and other daily necessities. With all the cleaning and nursery jobs for the beloved kids, it is not easy to get a part time job and earn extra income for the family. What else can a desperate housewife do?

Eventually, full time housewives could trade forex online part time and make extra income like USD50 to USD100 per day for food, groceries and other necessities. What does a housewife need? All they need is just a computer with internet access at home. Then, they need to learn a proven and tested forex trading strategies and start trading. How To Start Forex Trading In Malaysia

Somehow, some housewives may have other concerns, like they have no time to look at the forex market! The Forex market is running 24 hours from Monday to Friday only. Forex Traders can always enjoy lifestyle and quality time with their families during weekends. A part time forex trader will only need 1 to 2 hours per day to make money from the lucrative online forex market. A currency pair like USD/JPY moves up or down within 200 to 300 pips in a day. To earn USD100, a good fx trader will only will need to profit 10 pips within a very short period of time. Housewives just have to scarify 1 hour of their afternoon nap time or 1 hour of watching TV time to make extra money daily.

There is another advantage of a housewife trading forex. In general, women are more discipline compared to men. The secret of every successful forex trader is using proven and tested forex strategies coupled with conservative money or risk management and very tight discipline (follow the winning forex strategy all the time). Many male currency traders tend to imply their own theory using existing forex strategies and sometimes enter to a trade even though it is not a confirmed trade!

So, how a housewife shall start to make part time extra income in forex trading? First, learn to trade forex with a reputable financial school. In Malaysia, there are more than dozens of forex schools but not all are very good. Find a forex training course that will provide continuous supports and coaching is very crucial. After that, start practicing your forex trading online until there is a consistency in monthly profits, for example at least 5% to 10% per month. Then, just continue to trade forex and make extra money part time every day. How To Start Forex Trading In Malaysia

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Forex Trading Malaysia Legal – Things to Be Careful With While Trading Forex

September 4, 2010 by  
Filed under Forex Trading Market

Forex Trading Malaysia Legal

For many years, currency trading has become a profitable way of earning money. Since the Forex market is one of the fastest growing markets in the world, more people are getting involved to ‘grow’ their money with trading Forex. As promising as it sounds, there are still a few things you should be careful while trading Forex. Here are some tips to help you earn more money while trading Forex.

Most people may think trading Forex gives a good opportunity to earn fast money and try their luck in succeeding in the Forex market. However most of them fail to because they lack understanding about how the Forex market works. If you think you can succeed in this market in a short time and with great luck, you are wrong. You have to spend lots of time understanding the mechanics of Forex trading. Please remember that there is no such thing as fast money and earning by luck in Forex. Forex Trading Malaysia Legal

There are lots of claims to automate your income with Forex bots or software. Please take note that there are no such thing as automatic income. To understand the software you need to spend great time to understand how Forex works and monitor the software closely. Like any other robots, the function is to help you automate your trading and make your life easier but if you are not in charge of your trading, you will suffer great financial loss. Please check out reviews online before purchasing a Forex bot in the market.

Remember when you were in school and your teachers told you to not only study hard but also smart? Same principles apply in Forex trading. Most traders think that as long as they work hard without any help, they will succeed. It is best to learn from a reputable Forex trading company or consultant rather than just learning by trial and error.

Another thing to be careful about in this market, is to always be alert at all times. As the market fluctuates fast, you must always be on your toes. You must always be updated about the world market news at all time and keep in touch with political events.

Never trade Forex for fun or based on emotions. Unless you have money to burn, trading currencies takes lots of dedication and hard work. If you allocated certain funds to invest in Forex, just invest with those funds and not more. Even though trading Forex is legal, it is quite similar to gambling so you must promise yourself you must always be in control and do not let the trading be in control of you. Forex Trading Malaysia Legal

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Online Forex Trading Malaysia – Beginner Forex Traders Do Not Expect to Make Easy Money Too Fast in Trading Forex

September 3, 2010 by  
Filed under Forex Trading Market

Online Forex Trading Malaysia

Beginner forex traders always expect to make easy money very fast in trading forex online! This is one of the common pitfalls for beginner to forex trading to lose money in the volatile and fast moving online foreign exchange currency market.

After 3-day intensive yet comprehensive foreign exchange currency training in Kuala Lumpur, Malaysia, one of our Malay forex trader students is very exciting to create his wealth and achieve financial freedom. As he is very desperate in making money due to his current unemployment, the beginner to fx trading expects to trade for living and achieve wealth freedom in a few months time! How does he plan for it? This new currency trader is targeting 200% earning per month by trading currency!

After a month of live and trading forex online, I checked the trading result of this Malay student trader. And guess what? He is losing a lot of money in his fx trading account. According to him, because his capital is small, so he does not use the money management theory and risk management method in his currency trading. As his has yet to master the skills in technical analysis and start to profit small trades consistently, we just wonder how he is working toward his target of 200% per month earning… Online Forex Trading Malaysia

To get 200% in the volatile forex market is possible, but not to every forex trader, especially beginner fx traders! First, as a new currency trader, you need to learn a proven and tested forex trading system that have at least 70% to 80% winning chances over a long period of trades in foreign currency market. Coupled with a conservative & low risk money management, first the beginner fox trader can target to earn 10% per month first. For illustration, set the risk management level at 1%. Put very little trading time in lucrative currency market, such as 1 to 2 hours per day. Do only 1 currency trade based on a 70%-80% winning strategy. Out of 20 trading days, there will be 14-16 profits and 4-6 losses in the forex trading. After deducting the losing trades, you shall get around 8% to 10% profits per month! If a beginner fx trader can follow this simple trading plan, then you shall get consistency in trading forex and start trading for living plan…

In order to earn more, make sure the currency trader obtain the above consistency first. Then, perhaps the forex trader can increase his risk to 2% per trade. The result will be doubled. After fine tuning the discipline and mindset of a fx trader, the fx trader can perform more trades in online forex market and thus increase the monthly winning percentage, steps by steps!

Remember, all wealth is accumulated, with the ‘know how’ formula from the successful wealth master. Luck and fortune will not fall on everyone. 80% of forex traders lose money because of their wrong mindset and lack of discipline, not because of their currency trading strategies. The best forex training course shall consist of 3 important elements: a proven and tested forex trading system + money management/risk management + successful trader’s mindset… Online Forex Trading Malaysia

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