How to make money on Forex? step by step instruction

Forex is an exchange market in which participants make transactions with the aim of making money from changes in the exchange rate, making profits and selling them. Forex is today the best and most active currency market in the world. Transactions start at one million dollars and daily turnover is five trillion dollars, which indicates the best liquidity. Traders (traders on stock and financial exchanges), beginners and experts in this business, are involved in making money on Forex. Exchange participants also include investment and pension funds, large and central banks in many countries, investors and large corporations.

At first, it may seem that Forex is not available to ordinary people who want to try out the role of a trader, but it is not so. There are forex traders who have organized a market where there is no need to buy and sell currencies, but the aim is to organize transactions for their rise and fall. Today we are going to talk about how to make money on Forex this way and how to use Forex without any investment.

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Making money on Forex without investment: how does it work?

It is important to note some facts about this Exchange market to better understand it. Forex is available 24/7 and was originally created for international banks and countries to exchange currencies (eg yen for dollars – this way entire states could exchange currencies).

Forex is divided into so-called trading sessions: American, European and Asian, as it is international and does not have a single exchange (this is the difference with the stock exchange).

The most important question for a beginner: is it really possible to make money on Forex without investments? Yes, in reality, along with that, there are a limited number of methods, and knowledge of the Exchange market demands each of them. Let's list these methods.

  1. Consulting. Having trading knowledge, analyzing the world currency market continuously, you can advise novice traders and take your percentage from them.
  2. Attract traders through an affiliate program. If you start attracting traders to a broker, you can also receive your percentage. In order for a person to want to become a reference for you, you need to actively demonstrate your knowledge in this area (in various resources and forums).
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Where can you get knowledge about the Exchange market if this is a completely new topic for you? Everything is much simpler here.

Start with any theory: articles on financial exchanges, notes on investments, books on trading, learn the basics of the international currency market and methods of technical and fundamental analysis.

This is really important because you are dealing with money and risk. Next, we will move on to the steps that will bring you closer to understanding how to make money on Forex with low losses and what it takes to do so.

How to Start Making Money on Forex: Basics of a Safe Start

Note that initially trading will not serve you as a stable and even risky occupation, do not rush to immediately shift the focus of attention specifically to this matter. It can happen that the exchange is not your type of earning and this is absolutely normal.

  • Initial Capital… Making money on the stock market without investments is really more of a myth than reality. To receive R$ 500 per day (respectively R$ 5,000 per month), you will need 10 times more starting capital. Why? Stable and good earnings are considered to be 3% to 10% per month, which in turn will be 30% to 100% per year. This profit is possible if the trader withdraws the profit and disposes of it for his own purposes. Of course, if you invest all the money you earn back, the annual profit will only grow (100% to 500% per year). as you may have noticed on the stock exchange everything is calculated in percentage as Forex is about investment and speculation.
  • Continuous learning. We have already given the necessary theory above, but practice plays a significant role: find a mentor to teach you and used work tools for that. Such a person must have a positive experience with Forex, but trusting his success is false, as everything will only depend on making his own decisions. Ask your teacher to report for at least one year on multiple accounts. It is also important to monitor your Forex actions in real time, ask for an explanation of your steps – so you will check the expertise. It is worth looking for a mentor at brokerages, forums, events, etc. The teacher must earn money on Forex permanently, and not consider the exchange as his hobby.
  • The moral component. Yes, it is possible to earn big and fast on Forex; at the same time, for this you will have to endure the loss of time, money and acquire fears. If you are ready to see the transaction amount + $ 247, and after 7 minutes -420 $ and not regret at the same time, but manage your account in cold bloodso this is your case. Usually, newcomers get lost in the unpredictability of transactions and are not ready to go further, gain experience.
  • remember the risks… Exactly what you don't need to do is give the last one to the exchange. novice traders lose their trading account in their first week on Forex and this is normal, because practice and theory are not enough at the beginning of the path. Let the exchange be your hobby in the early stages, not a single business.
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In fact, the technical component of the scholarship is very simple, all responsibility lies with the financial results. And then we will get even closer to the topic of how to make money on Forex and show you step-by-step instructions.

make money on forex without investments

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How to start making money on Forex: step-by-step instructions for a beginner

Before we start, I would also like to talk about one more exchange rule, decent income in a specific period gives no guarantees about a good income in the next… Therefore, relying on monetary success is not entirely logical.

  1. broker search… You will carry out trading operations on the stock exchange through a broker (company), as legally you do not have the opportunity to enter the Exchange market directly. Let's cite some criteria by which you need to choose a broker: at least three years' experience of a broker, a high rating on (top 10), the minimum deposit size, the spread indicator (the broker's commission, the lower the better), the technical part of the withdrawal money (very important!).
  2. Selection of financial instruments. The broker must provide you with a trading platform (usually this metatrader version 4 or 5), you understand it using the Internet or company management. Also check all the functions for your work and analyze their usage. Then choose a currency pair, for beginners, the ideal option would be the euro-dollar (EUR/USD), master the schedule. In perspective, you will be able to manage multiple currency pairs.
  3. Practice on a demo account. You will be able to open an account for an amount, for example $ 1000 and make transactions with it. It is important to treat the demo account like real money, try to multiply it and work through transactions as calmly as you would work with your finances. Once you have mastered where, what and how it works, proceed to the next step.
  4. open your account… Real money can be either cents or dollars, but the main thing is notdo not put a large amount at once… Gradually increase your capital, don't worry about leaking money, we repeat, this is normal and happens to all newbies. After positive results with small amounts, it makes sense to move on to higher amounts.
  5. Secure your balance point. Try trading without losses, take risks into account and carry out transactions without reducing your equity capital… Only after this step does it make sense to think about big recipes.
  6. Make your first profit. Here you will also answer the question whether it is possible to make money on Forex. You will win but chance of you saying goodbye quickly to profit is very high… Try to analyze all your actions and understand all the processes, the cause and effect relationship of the movement of currencies. Don't forget that you are working from experience and just learning.
  7. Increase your trading account. Here it is already important to think about the future and include the so-called “percentage thinking”. If you already know how to get 5 to 15% from US $ 1,000 in a month, go for the same percentage just starting at US $ 3,000 value.
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So, is it realistic to make money on Forex? Quite. This is not some kind of fiction, but the reality of many traders. The only question is to what extent this case resonates with you. Use the above information and test yourself for entrepreneurship to some degree, gambling and willpower. The exchange is definitely worth a try, because with our advice and general information on the Internet, the chance of losing money is slim. Approach this matter responsibly and we wish you luck in Forex!

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