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Trade for a Living

"Choose a job you love and you will never have to work a day of your life."
- Confucius.

When we wake up in the morning, we have two simple choices.
Go back to sleep and dream, or wake up and chase those dreams.

Now, imagine this...

You wake up each morning to get ready for:

bulletRush hour traffic.
bulletBosses to report to.
bulletOffice politics.
bulletFrantic meals.
bulletStruggling with the workload.
bulletFear of retrenchment.
... and the list goes on and on...

This is the typical routine of a wage earner.
You trade your time and talent for money.
The moment you stop working, your active or earned income also stops.

What if you can decide:

bulletWho you want to work with or independently?
bulletWhat income you want to make for the day?
bulletWhen you want to work and to take a break anytime you wish?
bulletWhere you want to be as long as you have 3G or wifi access?
bulletWhy you should be playing your favorite game instead of going shopping and dinning?
bulletHow you want to enjoy your vacation and still get paid for your traveling?
 ... and most of all, the time you can truly enjoy with your family and friends.

This is the lifestyle of a passive income earner.
You
know how to use the power of leverage to build a successful business.
Leveraging allows you to work once and get paid over and over again.

Trading is, without doubt, the very best lifestyle that anyone can imagine.
While successful traders won't blame others for the money we lose occasionally, neither do we have to be apologetic to anyone for our winnings.
In other words, there is no necessity for us to be politically correct and that can make a great difference in the enjoyment of life as a trader.

Is it possible to trade for a living?
First the Bad News...
Trading for profit is tedious and stressful because you need to constantly monitor which direction the price is going and you must act fast to take your profits and cut your losses when the trend changes suddenly.

Trading profitably for a living is even harder because you will be up against the professionals who are already making a wonderful living from the markets.

The Good News is that profitable traders are not born but made as demonstrated by the famous Turtle Traders experiment and that trading ideas can be programmed to do all the hard works for you.

Trading was more teachable than I ever imagined. Even though I was the only one who thought it was teachable... it was teachable beyond my widest imagination. - Richard Dennis.

If you are new to trading, you need to be aware of marketing hypes and unrealistic promises from some self-proclaimed gurus who would have you believed that you can retire rich within months by attending their 2-3 days of training.

I should know better, because I have spent thousands of dollars personally on trading courses which I didn't find value for the money!
Take a look at
Trading Courses – Does it work? and think again before you part your money for courses that promise to teach you trading secrets that will make you rich.

On second thought, why would some of these gurus waste time teaching when they can make more money trading, unless it is the other way around?
Of course there are genuine trainers with the altruism of empowering the masses. But they are the exceptions rather than the rule.

I gained more by investing my time at the libraries, the internet especially the forums, and the studying of charts.
So can you!

My IDLE approach to trading successes:

I - Identify price patterns - they are repeatable!

D - Determine Entry and initial Exit prices.

L - Let the prices come to me and not the other way round chasing prices.

E - Execute and manage the trade strictly and according to trading rules.

Manual Trading:
The most important lesson I learned from Forex trading and from sports arbitrage is this:
Never trade on hope. Only trade with the odds in my favor.

We can never eliminate risks in trading. The best we can do is to minimize them.

Guessing what will happen is gambling. Responding to what has happened is to play safe!
Hence our trading decisions should be driven by what the market dictates and not on how we feel.

If we want to be successful traders, then we have to be ruled by our heads and not by our hearts.
There is no room for emotions and gut feelings in trading!

You don't have to be good to get started.
You must get started to be good at what you are doing.

Here is a news report of how ordinary folks have succeeded in the Forex market:

Screen shot taken on 18 June 2007 from Bloonberg.com

If you are new to trading, I strongly recommend that you learn as much as you can about technical analysis and chart patterns.
Don't rush to gamble with real money until you are happy with your trading plan and it's performances with your Practice Account.

However, try not to dwell on your practice account for too long.
This is
because we tend to make different decisions with real money than we do with practice money.

Fortunately with brokers offering Forex Micro lot trading, it is easy to begin live trading with a couple of hundred dollars and risking as low as 10 cents per pip movement.
No other financial instruments offer such a low barrier to trade with real monies.

The truth is that anyone can learn to make money from Forex Trading as long as he/she can stay disciplined with a Profitable Trading Plan that incorporates High Probability Setup and Trigger, effective exit rules with good Money Management.

I know of newbies who have become profitable within a few months of their live trading.
The common trait of their successes is their discipline to trade their plans.

Profitable trading is not just about making the right entries but the guts to exit unhesitatingly when your entries were wrong and the patience to ride the trend for as long as possible when the prices move in your favor.

But few traders have the discipline to stick to their trading plans to become consistently profitable.
It is also not the preferred way to earn a living since they have to continue to trade to make money.

As a manual trader, you are no different from any wage earner.
The moment you stop trading, your income also stops.

Automated Trading:
While trading manually with discipline can be profitable, I soon realized that it isn't easy to trade for a living by watching the Forex market constantly and dealing with the emotional ups and downs of trading.

The thought of buying an EA to overcome the problems of manual trading was appealing if not for the fact that most of these trading robots that are being sold online are known to be more marketing hypes than substance.
I
f these robots are able to earn you thousands of dollars every month, would the creators sell them to you at a low price of $99?
The only way for us to be able to trade profitably is through hard work and constant learning.

Fortunately for me, the experience I had gained from creating my Arbulator software as an aid to sports arbitrage trading spurred me to translate my Forex trading rules into Expert Advisors or EAs for short for automated trading.

The challenging process of conceiving, developing and testing my EAs on demo accounts over several months before trading live, have enriched me tremendously in furthering my understanding of my own personality and the intricacies of profitable trading.

Please click  (requires Flash plugin) to see and hear the fruit of my labor.

There are limits to what we can do with commercial EAs because the markets are dynamic and require the developers and the traders to adapt to the changes quickly to remain profitable.

Hence, the best automated trading systems are the ones that we can call our own.

If you are already an active trader, the smarter way to trade is to automate your trading by converting your profitable trading rules into trading robots or EAs.

As an automated trader, you will get to enjoy passive income from your automated trading instead of deriving active income from your manual trades.

In summary, the 6 advantages and benefits of an automated trading system are:

bulletEliminates emotion
bulletEliminates need for constant decision making
bulletEnsures consistency of approach
bulletRisk control
bulletSame approach can be applied to many markets
bulletApproach can be tested for statistical reliability

Passive Earning:
But why just trade when you can also earn residual income and rebates for your trading?

Unless we have a well paying job and the discipline to save for years we will probably not have accumulated enough assets like properties which can be rented out for passive income.

So what can the majority of us do to prepare for our retrenchments and retirements?

Do the words of J Paul Getty, the world renowned billionaire, "I rather earn 1% from 100 people's effort than 100% of my own effort." get you thinking?

If so, here is an outstanding passive income opportunity for anyone of you to seize right away...

It is not only the simplest way to Earn Risk Free Income globally, it is also absolutely FREE... and maybe, the only chance left for you to become financially independent!

The Affiliate Program has given me the opportunity to work smart and the incentives to do well for my passive income.

We welcome you to today.

If I can do it, so can you.

"If you focus on work, you get lifetime earned income. If you focus on relationships, you get lifetime passive income."
"会做事,一辈子的工钱。会做人,一辈子的财务自由。"

When you have opened an account at , do if you would like me to work with you to become a smarter Forex trader.

The end of labor is to gain leisure. - Aristotle.

DISCLAIMER : The contents of this and related websites/webpages are for information only and should not be used as a basis for making any specific trading decision.

Loo Kee Sin 吕其新

Create Your Badge

The Choice is Yours, the Time to Act is Now, and the Clock is Ticking...

Why just trade when you can also earn residual income and rebates for your trading?

Increasing number of Individuals, Corporate Traders, Money Managers and Website Owners have already opted to become our traders and our partners in this $4 trillion daily turnover Forex market. 
As an individual retail trader at FXPRIMUS, you experience a level of fund safety, trade execution and service quality that is normally reserved only for large, institutional investors.

We welcome you to now to enjoy the same advantages as the institutional traders and expand your income potential while offering your referred clients one of the highest available level of service and support.
Please ascertain your eligibility in your application.

Automate your Trading for FREE?

Would you like to trade with your very own EA?
We have helped several of our traders to become more productive by automating their trading rules for FREE.

Sign up for a Live Account Today and have it funded...

and it would be our pleasure to share knowledge and tips on trading and automation with you.


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