Written by: Sam Onigbanjo, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Earning money and having time for what you really want including, family, vacations, fun and relaxing should be within your grasp if you are over 25 years old and it’s not, I get it the world economic system is not fair at all! You’ve probably heard the saying the rich get richer and the poor poorer!
Well, I have good news for you, trading the markets, does not need a good CV, university qualification, good credit score or the ability to pass and get accepted for a job by an Interview panel.
By the way, I have been trading the markets since 2015 and have trained over 500 people, with quite a few of them making more money than me now!
So, here are my 5 trading forex tips that you must grab hold of
Secret number 1:
Always take out time to read the little-known but entirely free calendar about all capital market (including forex trading) news worldwide! This is the source that many shining and impressive forex websites secretly get their data from. This site covers the news about important decisions that create volatility and move global markets. It also tells you when the news about a currency, commodity, indices, crypto or even metal will come out and if the news meets the expected forecast! With this forex news portal, you can’t go wrong.
Read closely I’m about to share a secret, do you want to know one of the main sources (the secret sauce) of many traders that makes them millions, it's forex factory, and here’s the thing - it’s absolutely free!
Here is the link for forex factory.
Secret number 2:
As a new stock market trader and even for some more experienced traders, the biggest secret to trading is mastering your emotions. You need to learn to develop the heart and mind of a trader! As a forex trader, you can make money buying with the bulls or you can make money selling with the bears. Red is great and so is Green, your responsibility is to ride the winning trend. The trend is your friend.
That said no side or trend stays the same in the stock markets or in forex trading it changes direction, hence if you do not believe in sticking to one thing then trading would be perfect for you because there are reversals, retracements and breakouts that make staying consistent simple foreign and not attributes that help you win in the game of trading.
Here is the strategy that I teach to my most timid and cautious traders, I call it the 1% forex trading strategy, where I ask people just like you to imagine earning 1% of whatever they have in your savings per day! Then Imagine multiplying that thrice a day for 3 days a week.
Let me make it easier:
$1,000 on trade yields 1% =$10
3 times a day $30
3 times a week $90
I won’t even add the compound interest on the growth but if I did this 4 weeks per month it would mean my $1,000 generated $360 or 36% growth in 30 days. How does that appeal to your minimal risk and curiosity?
Now think about that, you can work and trade, have a full life and trade, you just need to give no room to excessive greed, fear or negative thinking… after all, it’s the largest market in the world! Real millionaires, billionaires, governments and businesses are involved, so why not you? I’m here to say I believe it is your turn to experience an incredible and new cashflow
Secret number 3:
Never ever rush in to a forex trade, the markets are open 24 hours a day and provide well over 300 opportunities per day for you to make anything from 1% to 100% in a 24-hour window! Yes and that’s the truth, but remember the markets also provide an opportunity to lose anything from 1% to 100% in a day for the trader in a hurry. If you are thinking of opening a simple trading account for free may I recommend my affiliate link?
Click here.
Its an absolutely free forex trading account registered and regulated in the UK and many other countries in the world. It also comes with a standard auto 50% stop loss safety pre-set to help guard your capital, One more tip you can reduce your leverage on trade to x1 to really help keep your capital safe.
Secret number 4:
Traders do best in communities: Isolation and loneliness facilitate mistakes, poor decisions, and constant wrong interpretations of can data wipe out your entire trading account. To become a truly successful forex trader you must understand your Fundamentals.
Remember,
Secret 1 - Access the forex factory,
Secret 2 - Your psychology (master your emotions, The Big One)
Secret 3 - Ensure you undertake your technical analysis
You must learn to blend all 3
Secret number 5:
My last secret this, to trade forex markets or stock markets you need to recognise that the behaviour and approach required for success here is often counter-intuitive to what you would expect in a workplace or a business. Being busy means truly little in trading, what is more, important is your ability to select winning trades and having the patience and discipline of knowing when to enter and exit a trade. Also, minimise your losses and maximise your wins. Meaning Losing is part of trading!
As an achiever, accepting losing is tough, and many people entwin losing trades with failure, which is so wrong. The markets cannot be controlled.
This article was written by Sort after multiple award-winning author, forex trader, forex trainer and public speaker Sam Onigbanjo, CEO of Capital Markets Academy, Sam is a regular forex and stock market contributor in Business Insider, The Evening standard, The Daily Express and more you can ask questions or join one of his complimentary “Live” webinars to test and taste if trading the markets is for you
Sam Onigbanjo, Executive Contributor Brainz Magazine
Sam Onigbanjo, is a leading coaching voice in helping people develop the skills and confidence to trade the capital markets and get a grip on their financial life. He is a seasoned public speaker and storyteller, this really helps him communicate skills in a less daunting manner to his audience. As a man he shares his struggle to financial Independence and why he knows it means so much to people to be in control of their own time and what impact it makes on spending time with loved ones and fulfilling life long dreams. Sam is the CEO of Capital Markets Academy and trains people from all over the world online and in person.
