Covid 19-Trade,Earn @ home - Does it really work? Forex Trading Small Account With Expert Advisor
(By Shivkumar)
Coronavirus is having a wrecking effect on the people’s lives, countries’ economy and financial global markets.During these pandemic people around the globe are being asked to work from home so that the health officials scramble for its solution.
Forex trading is quickly becoming one of the best ways to generate income from the ease of sitting at home comfortably.
So during the time of Covid 19 Pandemic traders can easily earn money by trading in the currencies market and implementing the following strategies which I also personally traded and attaching live results for your reference:-
1) Open a Forex Trading Account with a Right Broker
We need a right broker for trading during these Covid - 19 pandemic as there is huge volatility in currency market.
Secondly we also need forex broker who can support trading Micro account (1000 lot or 0.01 lot) or below micro account (Mini account).
Account Opening,Deposit,support and withdrawals should be hassle free.
Forex Broker should support EA or expert advisor.
I got my account opened to trade and use my trading experience with expert advisor.
2) Proper Risk Management
Small Account opening of $ 100 , $ 200 or $ 500, helps you trade with discipline, and put a habit of proper risk management.
For example :- as you can trade micro lot ( 1000 or 0.01 lot), your loss or profit is of 10 cents per pip. Say the market moves 50 pips down or up, your profit or loss is $ 5 or stop loss is $ 5.
1:2 ratio trade or a risk of 1% on 500 $ you only risk 5$ on each and ever trade.
Below is a screen shot of my trades.
Opened $ 100 Trading Account
Leverage 1:500
Total Trades 12
Profitable trades 10 @ 41 $ profit. Loss @ 2 - $ 7.50 April 1st 2020 to April 9th 2020.
3) Add Fund Regularly to make a yearly good Return
Lets take my current live account Example: Opened account of $ 100. Made a profit of say $ 50 a month. I add say $ 100 every month. so $ 1200 every month. Make a minimum profit of say 20 $ to 50 $ as per risk reward and compounding yearly.
Note :- Your profit rate depend on how you interpret EA,and get a grip of better entry and exist strategy. Better practice paper trading or demo account with EA with better result.
Adding Funds monthly say 100 $ - 200 $ will further enhance your compounding yearly.
3) Profits from your mistakes
As you do paper trading or demo trading use these opportunity of profits from mistakes into your live small trading forex account.
Ask these three questions when you access your mistakes.
Whats your mistake?
Why did you made it?
how will you prevent it?
4) How to use your Expert Advisor on small Trading Forex account?
Use Expert Advisor ( EA) as a navigation tool to help you in trade.
Check your EA on the signals which is gives your during trading and test it with entry and exist on demo trading or paper trading. Also do check the market structure, news and trends to perfect your entry and exit.
Look for consistent approach to maximize your ratio.
Summary
My personal experience of forex trading during these covid 19 helped me test my knowledge and have a hands on experience on Expert advisor in a disciplined way. I had a good week to start trading in FX with EA. Its a long way to go, and i have shared my above experience with you.
So Don’t let the threat of the Coronavirus shut the doors of your success. True financial freedom for you is within reach. Grab the opportunity now and join Forex trading with Expert Advisor today for a brighter tomorrow.
Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update shiv@shivfxcrypto.comFacebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto || Mobile :- +91-70439-12326
