Hello experts gurus beginners i want to earn 5$ per day please can soem one tell me any good system from which i can earn 5$ per day if its from 1 trade or hundreds of trades like earning few cents on every trade and complete 5$ per day
please can some one help me in this Thanks
Sure, simple
Follow these steps and you’ll have $5 per day
but. FOLLOW THEM TO THE LETTER
-
Learn to actually trade to begin with (not because this is difficult, but because it would be naive of me to tell you didn’t need to know anything except to follow these steps)
-
Have a Look at Indexes. I recommend you start with US2000 (Also called RUSSELL US2000 index)
another one to keep an eye on is S&P500
but focus on US2000 to start with
You’ll notice it’s only been around a few years and you’ll notice it’s only been going up.
this is what makes it easy
- in light of 2. don’t get the wrong idea,
it doesn’t mean you don’t need to think or you don’t need to be careful… of course you do.
but to get $5 per day
the minimum trade size is 1.0 Lots (Approx $1 per pip) but find out what it works out to in your currency…
let’s call it $1 per pip for now
so…
4. You want to start with around $3,000
5. You want to trade no larger than 2.0 Lots (Max $2 per pip)
6. You’ll set a stop loss where you feel comfortable and set your take profit to 3 Pips (this will give $5)
you will be able to easily maintain this
- you’ll actually find that if
- You put 1 trade down and let it run for months, you’ll accumulate a decent amount
- have a secondary trade to bring in your $5 per day and let the first trade build up
at the time of writing this post (2346hrs 28th November 2017) Sydney Time
it would currently be a good time to enter (Buy)
1510.0 would be your optimal entry point, but … anything up to 1523.0 is fine
8. just let it ride from there, and as you get into around 10 pips in profit , set your stop loss to Break Even.
let the trade accumulate 40 pips then put yourself 10 pips in profit (Give it 30 pips breathing space to move) and for every 10 pips it goes up, secure yourself another 10 pips with your stop loss
Now…
9. on the way up at every 100 pips open another trade and repeat the process.
you’ll find that you’ll easily get 3 or 4 concurrent trades happening with good risk managment.
so…
10 at some point your Stop Loss is going to get taken out, but it doesn’t matter because it’ll be in profit.
on the pull back you can still re enter the position that you got taken out at or get a lower entry point
point is… this will easily get your a consistent $5 per day, not a problem
YOU’RE WELCOME
3 Likes
Thanks alot for this advice i will start from 2k$ but still i did not understand the strategy sir please
Yes, indeed: someone posting in a beginners’ trading forum and thinking in terms of “$5 per day” is bound to have $3,000 capital to start with.
It’s much more realistic, with trading, to think in terms of average monthly income, with the awareness that averages aren’t always “smooth” and will necessarily include some losing months, too.
Next, you need to be aware that a very small minority of traders ever gets as far as making a few % monthly return on their trading capital.
And then, in view of your username, it would also help you to know that it probably won’t be possible to do it all with “binary options”, because they carry a huge “house edge” against you, when compared with most other kinds of trading. Any way of making some money from binaries can be done more easily, more safely and more productively with other kinds of trading.
Good luck with your long learning-curve.
Needhelpbinary… Martin K is someone I would listen to here… DO EXACTLY as he has laid out above… and also read back through his previous posts over the last couple of years… some of his posts contain diamonds… absolutely priceless.
Edit: As Charlie says, stay away from “Binary Options”…Deck is stacked against you from the outset…
yes but i am looking some indicator some pattern some strategy with the help from which i can get few $ per day pleas Thanks
Not what you want to hear, but the fact that that’s what you’re looking for actually illustrates the reason you can’t yet become successful. Your needs are perfectly understandable, but your entire orientation for resolving them is a misguided and inappropriate one, coming from a perspective of “not yet enough understanding about the realities of trading to formulate good questions”.
You’re basing your inquiry on a premise that’s sadly mistaken: namely, that it’s possible without a long education and a lot of practice and much trading capital to start trading and earn a steady $5 per day. I’m afraid that simply isn’t so, but understanding why it isn’t so requires considerably more experience and understanding than you have, at the moment.
1 Like
Laughing Charlie
hi mate
I’m not concerned with DOES HE HAVE $3,000
its irrelevant
the question was HOW DOES HE MAKE $5 A DAY
the answer is MANAGE YOUR MONEY and TRADING and to not start with something stupid like $400 hehe
as for Monthly income
i totally agree, YOU CAN CERTAINLY HAVE AN ENTIRE 2 WEEKS THAT ARE COMPLETELY SHIT AND NOT WORTH TRADING
but… it depends on which instrument you are using as well
at the end of the day, at least he has $2,000 that’s respectable
1 Like
Needhelpbinary
-
i just noticed your name. DO YOURSELF A FAVOUR, Never Trade Binary options… Seriously… ok
you are guaranteed to lose your $2,000 DO NOT IGNORE THIS ADVICE -
ok, let me explain it again, i’ll make it a bit simpler
Step 1. Open a Demo account and fund it with DEMO MONEY to the balance of $2,000
Step 2. Set up your chart with US2000 (RussellUS2000 Index)
Step 3. READ UP ON THE INDEX AND UNDERSTAND WHAT IT IS TO BEGIN WITH … ok
Step 4. when you’re ready ON YOUR DEMO, Place 1 Trade… LOT SIZE 1.0 Lots (this is the minimum)
Step 5. Get your crosshair and Measure until the middle number gets to 100 (this will be 10 pips)
Make note of how much money you made, so you get a feel for how much you are risking if you set a stop loss at 10 pips for example
to give you an idea
the current price of US2000 is
1516.0
if i wanted to enter at 1516.0 and i wanted to profit 10 pips (ignoring all pip spreads for now) i would set my stop loss to …1526.0 this is 10 pips
does that make sense
Step 6. at first since you don’t know any better AND YOU ARE ON DEMO… Just BUY the Market… ok
then figure out if you bought too high or too low
Actually you can’t buy too low, the lower the better, but too high is possible
Now… Just watch it and get a feel for it
so… now you want to keep an eye on your MARGIN LEVEL % Make sure it always stays under 1000% (1 thousand percent), but higher is better
a heads up, it’s not unusual for the market to pull back 30 -40 pips, so don’t freak out if it does.
just get used to holding the position
i say, if it goes 50 pips the wrong way, max 60 pips, GET OUT OF IT
but usually you should find that you can cruise between (up to 40 pips)
now. obviously at times you need to wait for a lower entry
but once you have it… HOLD IT LONG TERM
Hold it for a month or a few months
now, if you want you can do this
if you have a good entry point
Place 2 trades
let 1 run a week
and the let the other JUST RUN
this way you can AVERAGE $5 per day
and to get $5 per day, you’ll just simply need to accumulate 4 or 5 pips in profit THAT WILL BE EASY
YOU’LL SEE
TRY IT ON DEMO FOR LIKE 2 WEEKS TO A MONTH TO GET USED TO IT
then you can go live with $2,000
trading at a lot size of 1.0 - 2.0 Lots DON’T GO LARGER THAN THAT… You don’t need to anyway.
does that make sense ?
1 Like
LaughingCharlie
You’re correct
that’s why i told him to do it on demo first with $2,000 to see if he can pull it off
no sense in losing the kid $2,000
1 Like
Forex trading is very simple. Easily you can make $5 from forex. Just following few steps carefully it is possible. For beginning you should learn first how to trade, where to trade and whom to trade? This will be possible when you know the very basic things forex trading. Then practice for some time in demo platform. SO that you will understand how market moves and how the currency works.
Needhelpinbinary
hey mate
RE indicators… ok
it is completely pointless (and i say this from 7+ years experience and the fact that i trade successfully) to ask someone “what indicator should i use”
you see, the thing is… i can tell you this
HERE’S MY SETUP
i use HA (Heiken Ashi) Candlesticks (set to average 3 Japanese Candles per HA Candle)
i use another HA that averages 6 Japanese candles for 1 HA
i use Bolligner bands set to 2 SD (Standard Deviations)
i use another bollinger band set to 3 SD
i use Fib Retracement Levels
and beyond that i use Correlating pairs
THAT’S IT
so basically, Heiken Ashi, Bollinger and Fib
Nice and Simple
now, can we argue that i should be using a MACD… of course we can
can we argue that i should use an RSI … of course we can
we can argue anything
and we can fill my screen up with so much crap that it’s not funny… ok
WHY I CHOSE THESE FEW INDICATORS is
BECAUSE IT WORKS FOR ME
the way i choose an indi is
let’s say you say to me … Martin, MA (moving averages are the best, you’ll never need anything else)
ok
i’ll pop on an M.A. and i’ll place a trade on demo
and i’ll make decision BASED ON THE DIRECTION OF THE MA
NOW… IF THE M.A. proves to ring true… I’LL CONTINUE TO USE IT
if the MA isn’t really doing shit… i’ll fuck it off
so does that mean that these ones work for me
YES THEY DO
does it then mean it will work for you
NO… NOT NECESSARILY
so… you can try what i have, and IF IT WORKS FOR YOU… Awesome… go with it.
but you should develop your style of trading and use what indicators feel comfortable for you and what makes sense to you
that’s the best advice anyone can give you regarding indicators
start going through the EXPERTS and INDICATORS section in MT-4 1 by 1
and
- LEARN WHAT THEY ARE BEFORE YOU USE THEM and understand how they calculate stuff
- TEST THEM IN A DEMO ENVIRONMENT and give them a degree of trust and see if they prove their worth
if they don’t… DON’T USE THEM, you’ll lose money
ok
2 Likes
thanks mate i appreciate that comment.
however… hehe
- have you been stalking me, aka (A few years ago) yeah… hehe
- i don’t know about a few years ago. i think there might be some comical value to it
but… TRUTH BE TOLD, I’ve have come a very very very long way since those posts
granted it took several thousand dollars to get there… hehe
and yes, with enough patience and determination i got it all back and now life is good.
it can be done… for sure
but I WANT TO MAKE THIS CLEAR
if i want to be stubborn i can
Stubborness and patience got me to the point where i am today and a strict sense of trading
Meaning
i decided at one point to DEFINE EACH STEP OF MY TRADING
i got Charting software called CLICK CHARTS (it wasn’t much, but i paid for it)
that’s what worked for me, but the point is, i got a flow chart going
i laid down a plan and i traded everymorning straight off the chart
if i got to a point where it didn’t flow, i tweaked it and tweaked until it became this big thing which I JUST FOLLOW and it works
Defining trading steps is important
but back to the point
i can’t remember what advice i gave back them
i would imagine some would be correct
some might (very likely) be somewhat correct but mostly incorrect… i don’t know
but thank you anyway for the comment , it’s nice when someone says that sort of thing
i do appreciate it
be cool
1 Like
Thanks for all the help you give me here i tried binary option but i lose money so i moved to forex from last 6 months i am trading i tried many many strategies in demo like i make my balace some 1k$ and i earned alot from it but in demo i am earning and in real i am losing
first i tried support and resistance
then i tried Fibo
i tried 200 ema and rsi when market is above from 200 ema and rsi is over sold i go for a buy
when market is down from 200 ema and rsi is over buyed i go for a sell
now i am working in CAP CHANNEL TRADING on d1 working very good for me on demo last night i did 8 trades till now all in profit
but in real nothing is working for me just nothing
so i need a consistent thing from which i am able to earn 5$ every day any consistent thing please sory for my bad english
needhelpinbinary
hehe
don’t worry about your english mate, it’s cool
i inderstand you enough to know what you are saying… all good.
Listen
let me speak from my heart ok…
I have a little problem… I like to help people too much hehe.
i feel like i would want to take every newbie here and show them what i know
but it doesn’t work that way
LET ME TRY AND SUMMARIZE 7+ years of experience
-
i started like you
-
i lost up to around $20,000 (not all in one hit, but i did)
-
i later learned to trade and got it all back
-
OH BY THE WAY… hehe, IF THIS SOUNDS LIKE A SPEECH… IT’S NOT… Just listen… ok
-
so when i got it back and started getting profitable, i had this urge to help my friends (and i did) and YOU LEARN SOME FUNNY THINGS
like… sometimes your friends CANNOT BE HELPED. it’s really sad, but it happens
and because of that, some people cannot be helped either… ok -
TRADING IS NOT FOR EVERYONE, Learn this lesson, you must have discipline, patience and a lot of other things i don’t have time to explain
-
now HERE’S WHAT I WAS GETTING AT
at one point i (and you) may try to help newbies hehe
but you know what happened to me… i started getting called a scammer
and i don’t need that crap
so i stopped doing it
THE REASON IS THIS…
I REALLY DO HAVE A WAY TO MAKE MONEY ON FOREX (it’s not bullshit) ok
but
a) if i try to tell people, first of all… the Scammers will call me a scammer and they will market themselves as the good guys… hehe it’s a trick to suck newbies in
b) i truly can explain to someone how to make approx 100,000 a year (BUT… HERE’S THE THING)
WILL THEY BELIEVE ME
Answer : No, Probably not
so, i get called a scammer again… LOL (What can you do huh)
Mate, AFTER ALL THIS EXPERIENCE, i can tell you this
based on your comment
YOU SOUND CONFUSED
you are overwhelmed with information
you are talking about doing this and that and then this other strategy and MA’s and whatever…
STOP DOING THAT
SIMPLIFY IT
it’s like this… ok
Plain and simple
let me give you some 100% Guaranteed Rules to follow
TAKE A PEN AND PAPER, you’ll thank me
RULE 1. Never trade if you feel upset or stressed
RULE 2. Never trade if you feel very happy
RULE 3. NEVER trade unless your emotions are NEUTRAL (sort of like a robot)
RULE 4. let’s say you start with $2,000 … NEVER TRADE unless… IF YOU WERE TO NOW LOSE THAT $2,000 IN ONE HIT,… You could honestly say to youself… IT DOESN’T REALLY MATTER
if you can’t do that, You should not be starting with $2,000
RULE 5. if you can’t seperate the emotion of earning money from money… DON’T TRADE.
you need to understand MONEY IS A TOOL, ok, it’s not your best friend, it’s not a dog or a cat, it does not deserve emotion
now… yes… YOU INVOLVE EMOTIONS because you work hard for it.
but when trading, FORGET THE HARD WORK that was required to make the money
RULE 6. you must LEARN for at least 1 year if not a bit more
RULE 7, you will know that you are ready because, IF YOU CAN TRADE CONSISTANTLY FOR 6 MONTHS (But a min of 3 Months) and still be profitable… you can then trade live
you must not go live before you prove you can do this
if you never get there, then you never get there
RULE 8. this is what CONSTISTANTLY means
it means… you dont’ trade 0.01 lots then jump up to 0.10 lots
it means you trade around the 0.01 lot mark and go up slowly and do that consistently
Never risk more than 2% of your entire capital on any one trade
RULE 9. Never have more than 2 trades at a time running
these are some good rules to live by
oh
Have a trading plan
have a goal and know what the daily or monthly goal is as well
ok
2 Likes
this answer will be shorter… ok
Look… first
forget $5 per day
focus on X % per day
not X $ per day
next. go back to basics. Start with Support and Resistance again
now… when you lose a trade
ask yourself WHY DID I LOSE
Losing is important
but, you MUST ALSO LEARN FROM YOUR MISTAKES
otherwise you don’t get anywhere
DO YOU HAVE A TRADING PLAN
as in… Do you have a procedure ON PAPER that you follow every time you sit down to trade ?
IF YOU DON’T
MAKE ONE… do it now
then try trading again and let me know what happens … ok
1 Like
another thing i just thought i should say to everyone is this
WHEN YOU GET TRADING RIGHT, AND LEARN TO DO IT PROPERLY, IT SHOULD BE SOMEWHAT RELAXING.
i noticed several years ago, It was a bit stressful, even when it wasn’t there was a degree of pressure always.
then
i learned how to do it
i now feel like, i get up , i do my thing, have a coffee, start trading… go to work do a few jobs, some more trading, do a few more jobs… come home, some more trading while i’m watching tv with the wife
it should become part of your lifestyle and should not be a constant stress factor
it should be relaxed. if you are not doing that, SOMETHING IS WRONG
1 Like
Yes from last 8 years i am working online
I MADE LOTS OF WEBSITES FOR CLIENTS
I RANKED MANY WEBSITES FOR CLIENTS
I PROMOTE MANY BUSINESS FOR CLIENTS
I DESIGN MANY THINGS
I BRING MANY SOCIAL MEDIA FANS , VIEWS , FOLLOWERS , LIKES
I RANKED AMAZON PRODUCTS
I WORKED ON ADSENSE
ETC ETC
BUT I GTE TRADING THE MOST INTERESTING ONE AND RELAXING ONLY WORK THAT WHY FROM LAST 6 MONTHS I AM WORKING DAILY 20 HOURS A DAY IN FRONT OF MY LAPTOP SO I CAN LEARN IT VERY QUICKLY I JUST NEED A HONEST GURU HOW CNA GUIDE ME PROPERLY
ok,
so…
-
are you then BUSINESS PROMOTER on skype is that correct
-
that’s great you have those skills
so… why can’t you make $5 a day seeing that you have these skills ?
I mean Ad Sense help alone would cover that.
I’m an I.T. engineer by trade
i also help people with Ad Sense
i can easily charge $120 per hour or more
why can’t you charge $5 per hour or more ?
lastly
as for Forex and “Need a guru to guide you properly” hehe
well. i wouldn’t call myself a guru of trading
i would call myself a Guru of I.T. Definitely and Electronics… sure
Trading is something that i just leaned how to do and is now working very well for me .
as for helping
i can help
but honestly , it takes a hell of a lot of time to explain evertyhing
I’M NOT GOING TO DO THAT
what i’m going to do is
SHOW YOU HOW TO START CORRECTLY AND SAFELY
the learning part is up to you… ok
like i said before, it took me a min of 3 years to learn it
anyway, which one are you on skype ?