You know how you can waste hours sitting in front of your Forex charts, hoping and praying that something will happen to give you an entry?
I’m talking about being able to predict WHEN the market is going to get hot. The Holy Grail for all traders, whether they know it or not.Īnd I’m not talking about predicting if the price will go up or down (although you’ll see shortly that’s fairly simple to do as well with CFDs). Suddenly, trading micro lot CFDs for only $3 to $43 through a Forex broker doesn’t sound so bad, does it.
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The recently approved Micro accounts require a minimum of $400 just to open a trade, then you need additional cash in your account to deal with any draw-downs.Īnd to trade a full contract on the S&P 500 or NASDAQ through a futures broker would take anywhere from $5,000 to $10,000 or more, depending on your broker’s requirements. Now compare that to traders who open actual Futures accounts to trade the S&P500 or the NASDAQ. And with multiple average daily moves of 20-40 points, you could clear $100 a session trading a single micro-lot. The NAS100 pays out at $1 per point when trading a Micro lot. This means virtually anyone who has an account with a broker that offers these CFDs can get into these trades.Īnd Don’t Think You’re Just Trading Pennies When Trading Micros. A Micro Oil trade only requires around $3 while the NAS100 takes a whopping $43. Given the amount of leverage you have available to you as a Forex trader, you can get into a Micro level S&P trade for only about $16 per contract. Specifically, I’m talking about CFDs like the S&P500 (which is called the US500 by your broker), Crude Oil (called USOil or WTICrude, which are the same chart) and NASDAQ (which is called both the NAS100 and NASTECH in the Forex world, depending on the broker).
There is a lot more to it, but all that really matters for our purposes is that Forex Brokers have been adding a lot of different CFDs lately, and by doing so they’ve given their clients the absolute best shot at banking winning trades they’ve EVER had!
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You’re damned lucky if you can get out with your skin intact on most days.īut as an experienced Forex trader, this also means you’ve picked up some valuable skills along the way, and it would be an absolute shame if you didn’t put those skills to good use when you have the chance.īecause many Forex brokers have recently started adding CFDs to the list of available charts you can now trade through your Forex broker (and Yes, several of them accept US and Canadian based clients).Ī CFD is a Contract For Difference, which is a fancy way to say it’s a way to “bet” that the price of an item will go Up or Down. It’s kind of like spending all day in Gladiator School.
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You can have a couple of great winning days in a row and then BAM! You give it all back plus some when price action starts working against you.
Prices can spike when you least expect it and either they take you out at your stop loss or they make 30-40 pip moves when you aren’t in any trades. There are hours and even days when charts remain flat. You already know how tough it is to trade Forex profitably. If You Are a Real Forex Trader And What You See Here Doesn’t Get Your Heart Racing Over All The Possibilities, Then You Might Need To Admit To Yourself That You HATE Money Newly Discovered “Glitch” In One Index Chart Hands Traders More Pips Trading One Hour on Friday Afternoons Than Most Traders Make All Week.Īre You Frustrated By Go-Nowhere Currency Pairs That Just Don’t Seem To Have Any Momentum and Volatility? Learn About A Single Simple Change You Can Make In Your Trading Charts That Will Put You In The Driver’s Seat And Leave Your Broker Begging For Mercy! Give Me 5 Minutes Right Now And I’ll Show You How Renko Enhanced (Forex CFD Trader) Is Pulling $50-$200 A Day Out of a Single Chart Trading a Single MICRO Lot AND How Anyone With An Account Balance of $100 Can Do The Same