As announced on Saturday; there are again some tremendous opportunities this week for earning money with foreign exchange @ MyPrivateTrade. The pair EUR/USD opened 200 pips lower than Friday, and is still decreasing. USD/JPY opened about 100 pips lower, EUR/JPY even over 300 pips and GBP/USD is steady right now.
There have been some suggestive remarks (on the Dutch GOT forum for example) that I get paid when you join up with MyPrivateTrade. Yes doh … what else would be my motivation to help you get success? I get about €0.75 on every trade somebody in my team makes (doesn’t matter if you win or lose money). Let me explain that in more detail. The cost of the spread (investment you make) when you open a real (not demo) trade is -5 pips. In that spread is the cost of the platform (offered to you by Simray Holding; owner of MPT) you’re using and the reward for the agent that you joined up with. The whole idea of this, is that an Agent with more experience helps you to get success. The more success you get, the longer you will use the platform, which is great for everyone (Simray, you and me).
Then there’s a difference between being an Agent (cost €650) and being a trader (cost €300). As a trader the full €300 can be used as trading capital (and you won’t get ‘commission’ of other traders/agent signing up through you). As an agent it is ‘only’ €300. “Why? What happens to the €350?” An agent can do the same as I do; help other people to get into this business. An agent requires different skills than ‘just’ a trader. You can reinvent the wheel for yourself, or get help from more experienced Agents and Simray themselves. To cover the expenses of the time of 1 or more experienced Agent(s) invests you, he (me in this case) get’s paid an extra €100 ‘training allowance’.
I could sit on my ass and only ‘recruit’ people, but after I recruited the last person, the first would have ran into losses or disappointment and have left again. This is a helping business. I only get paid more when I help people to get more success.
“Wow wow backup pal! What about that part you earn money when I lose?” Another reason for me to help you get more success. How much trades will you make when you keep losing money? What joy would I have from that? I’m here for the long run; for a steady stream of money, not quick profits.
But look at it from the other side. It doesn’t matter if you earn €1 or €500 (for example). I would still get €0.75 per trade (per pip). That’s pretty cool right? Well … hmz at least it’s a honest system!
The last few days I’ve been talking about keeping your profit open for a week, and get tremendous profits. Does it really work like that? It could. Momentum trading helps you in some ways, but of course you can’t predict the future to a full 100%. Sometimes you win, sometimes you lose. Forex is daytrading, or sometimes even hours of minute trading (depending on the changes in the market). I don’t say that because I get paid on more trades. I tell you cause I learned the hard way myself. It’s very important to set a ‘stop loss’ (as mentioned in the trainings you get), unless you ‘play’ with a balance of more than €2000. Most people don’t or can’t afford that … yet. So pick your target, and stick with it. Get out of a bad trend (or wait a bit longer for a change) and take small profits to grow your balance.
“Pip, spread, wtf?!” I’m a computerengineer, not a financial expert; and don’t want to be either. Using the MyPrivateTrade demo platform for a few days or weeks and asking the person who introduced you, will get you the required knowledge to start making money online! And remember … it’s a never a bad moment to start with Forex. It’s VERY different from stocks and bonds, cause it’s day not year trading.
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