Learn to Trade Forex at Home In London

There's no surprise that you want to be learning to trade forex at home,  especially if you're living in London, where having extra residual income always comes in handy. But it's not just force traders, the Guardian reports that over 4 million people (reported by the Office for National Statistics or ONS) now prefer to work from home in the UK!

For years I have been searching for ways to make extra cash.  I came across a forex training course in London and found it to be one of the best ways for me to earn an income from home without having to spend 7.5 hours per day.

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During the first few years, after my children were born I earnt a full time income from home with Forex trading.

What is Forex trading?

There are various types of trading transactions across the globe. Many business trade in exchange for goods and services to enhance business growth and profits. These trades are usually performed in either cash or kind.

In today’s society most business transactions are carried-out in exchange of goods and services and not so much in kind. Trading the forex market is not much different, you are exchanging currency.

Over the last decade trading has moved from manual to automated system and online. Major institutions were only main traders (banks, fund managers and pit traders) and therefore regular folks  like ourselves would not have been able to trade foreign currencies to make money.

With advancement in technology we are able to move from manual paper trading to online trading using computers where we can buy or sell currencies to make money.

The Forex market is one of the largest markets in the world.  This market is $5 Trillion and is traded by traders who can buy or sell to make a profit from anywhere in the world.

Trading from home in London

Having lived in London for 20+ years, it has been a challenge working 9 – 5 travelling on the tube and trains, especially during rush hours, which can often be very congested. Learning to trade forex and work from home without having to get caught up in the day to day traffic and train journeys to endure cancellations – Bliss!

Some Cost Saving Benefits

• Can you imagine how much you will save not having to travel to work on public transport? You could save over £2,000 per year on a season ticket to travel into London.
• One of the most frustrating things when driving through London is traffic, traffic and more traffic.  The air pollution is bad for your health, working from home could make you a healthier person.
• You can save on petrol costs – If you use £20 a week that's another £1440 saved and if you use more, well you'll save more!
• No more daily congestion charges which at the cheapest are £10.50 a day or £5400 for an annual pass, that can never be called a bargain …can it?
• Dry cleaning bill will also be reduced as you won't need suits.  You can work from the comfort of your home, in your own casual attire.
• Not having to pay for coffees, teas and lunches means I will save at least £75 per week, £300 per month and not to mentioned annually £3,600.  
• In view of the above benefits, weight up working from home in London verses commuting into London.  Overall, you will save time, money and the benefit to your health will be tremendous.  You will have extra time to spend with family and friends.

Improve Your Trading Take a look at the trading courses available

Benefits Of Forex Trading

Being an entrepreneur that has a little business insight measuring profit is one of the most important KPI's of any business success.  Trading the markets we know can be profitable, whether you are trading Stocks or Forex.

However, Unlike the stock market, Forex trading runs 24/7 days per week, the stock markets close and open at certain times of the day, which means you can't trade unless the market is open.

The benefits of the Forex market you can trade any time of the day as the market is open across the globe.  Another benefit, you can trade anywhere in the world as long as you have internet connections to be able to buy or sell online to make profits.

If you want to make extra income, feeling tired of working 9-5 without being paid for what you are worth, single mother looking after your children, a husband who wants to look after his family and plan for their future, someone who deserves a good lifestyle or want to start your own business.

There is no doubt why trading the markets is essential to achieve your dream, to fulfil your financial freedom, to live the lifestyle you want and to leave a legacy for your family.  There are several markets you can trade from, how, with my programmes/systems it will allow you to trade all the markets using essential strategies to ensure you have maximum profits and gain your life’s fulfilment.

Getting started learning to trade forex at home

Step 1 – The Home Environment

Living in London, learning to trade from home is one of the best things I ever did.  It gives me the freedom to wake up in my pee-jays, trading from my bedroom, I don't even have to get out of bed if I don't want to.

Before working from home, there are certain things you will require. You need to have a PC plus a Laptop, a work desk, printer, reliable internet connection and a pair of headphones.

If you are not able to set up a “full  office” on the cheap side you can use your laptop to trade with an additional monitor, it doesn't require that you set up a full office with all the fancy equipment to get started.

After setting up your office with the required equipment above, the next step is to set-up a broker account. I recommend you this a broker at www.etxpartners.com and I'll show you how to set up the account below.

Step 2 – Broker (Demo) Account

When I first started learning to trade, I received an email from a broker requesting that I sign up to the platform and trade.  The benefits of going directly to a broker is you are in control of your finances.

The broker will allow you trade virtual money  by opening a demo account. It's basically the same principle as going into your favourite store, for example John Lewis or Selfridges.  If you wish to purchase an outfit for a special function, you will have the opportunity to try on the outfit before you purchase to ensure everything fits perfect.  This is just the same as a brokerage account, they would allow you to test drive before putting real money.

Opening a demo account with a broker will allow you to test the platform and see how it all works and have a little practice and familiarisation before starting to fund your account with real money.

Step 3 – Knowing what to trade

The best place to start is with the major currencies  – So within the realm of Forex that would be trading against the GBP, USD,  AUD, EUR, NZD and YEN. These are written with three letters.

As Forex is a very liquid market as a beginner you want to start with trading the major currencies as these are the most traded ones in the market.

The profits are made when :ie you predict that the value of the USD will fall against the value of the GBP, so your actions would be to sell the USD and by more GBP, that way you will make more money.  These currencies are traded through a broker by buy and selling one currency against the other.

The aim is ensure when you trade a currency against another, you are expected for the price to change, eg. buy GBP at 1.4460 and by the end of the week, price moves to 1.4470, you would have gained 10 pips.

So now I have gained 10 pips, what do you mean by that, does it equate to money value?

Ok, let me explain..

A PIP is the unit of measurement that shows the value between the two currencies.  Therefore, if the GBP/USD moved from 1.4460 to 1.4470, it means you have gained 10 pips. You can chose the value of your pip size for instance, if you decide to trade at £10 per pip value, gaining 10 pips would equates to making a profit of £100 for relatively less hours and not doing any hard work.

Step 4 – Placing a Trade

A broker's platform would allow you to place a trade on any of the currencies I've mentioned above.  To place a trade, firstly you need to check the current market price of each pair before placing your trade.

The market will trade in 3 modes, up, sideways or down.  

Placing a trade to buy or go long when the market is going up, you will make profit if it continues.  Likewise, when the market is going down, you can make money just the same if you decided to sell for example, the GBP/USD

Step 5 – Placing a Stop

The concept is pretty simple, we take out various insurances home, car, life etc to protect us from life's disasters.

Placing a stop is just the same as asking your broker to protect you from suffering to many loses.

With an insurance, you have to pay for excess, with trading your broker protects you when you place a stop.  He will ensure that you don't lose too much money when trading.  Never ever trade without stops as you can ruin your trading account in one foul swoop.

Trading is a business, and in all business you need to protect your capital to ensure you gain maximum profits.