Copy Trading with ForexTime: Potential Risk and Reward, How to Identify Good Strategy Managers to Copy Trades

Forex trading doesn't have to be too hard for regular investors. Technology has changed and now you don't need to spend hours analyzing the markets and place your trades. You can leverage the trade copying technology to copy exact trades from other professional traders who are successful and know what they are doing with their money. For new traders, statistically 85% of them who just get started blow their accounts in less than 6 months. Now you can use ForexTime, the most trusted and regulated broker in the world, to copy trades from other traders who have consistent winning results. 

Potential Risk/Reward in Copying Trades

Knowing the risk is so important for a successful trading. Everything has risk involved. So is the trade copying. When you copy a trader, it means all the trades he/she takes will be automatically copied into your account in the same proportion of that trader's account. All the data and performance are all his/her past performance, and it has no way to guarantee the same future performance. That's why choosing a good trader is so important. Be aware that it is not a 100% sure game. However, you can analyze the traders' past performance to see their trading style or strategy. Through this, you understand the risk that the traders may take in their trading. You see how long you should keep your capital with them to see the same result. Most successful traders trade for a long term profitability; thus, do not rush to withdraw your capital from him/her. Give it enough time to show. Through the past statistics available on ForexTime, you can see lots of information. 

How to Identify Good Traders to Copy Trades

It's not very difficult to pick a good trader to copy trades into your account. ForexTime has its good built-in ranking system that you just need to turn on the tab "Top Strategy Managers Only". The platform will show the top traders ranking. However, you don't just go and choose the number 1 trader right away. You can click on each trader and analyze his trading style and performance. I will show my own strategy to pick a good trader to copy trades. Note that this is my personal way and experience to choose the traders. It doesn't guarantee the perfect way to do that.

First, I look at the overall performance chart since his start of trading on the broker. I look for a consistent up movement of account balance. Looking at the overall chart, we can also understand his trading style whether he is using scalping or swing trading style. Scalping trading means taking many trades during the day and take a small profit gain. Scalping trades sometimes last for minutes or to 1 hour maximum. Scalping takes advantage of quick price movement. Scalping usually trades on 1mn to 15mn charts. Swing trading is trading on long time frames such as 1 hour to day or even week. Swing trades might take 1 to 3 days to close the positions. I prefer swing traders personally. They take few trades but profit lots of pips for each trade. However, profiting lots of pips means potential lots of pips lost as well. But trading long term trades is more in line with institutional traders. For example, this trader who is currently number 1 in ForexTime ranking. 

To my analysis, this trader is a good long term trader and he takes swing trading style. He takes few trades but each of his trades win many hundreds to thousands of pips. You should also pay attention to his drawdown on the chart above. He also occasionally gets hit to his stop-loss, which caused the drawdown. 

Above is the snapshot of the same trader. This shows that he makes about 35.64% per month or 13.67% per week. His all time growth is 3536.62%. He has the maximum drawdown when he lost of 44.16%. Average daily win and loss are also important to consider. His total time on the broker and trading is 212 days. You should avoid traders who has traded less than 30 days. They are too new to judge his performance. I think it's even better to pick traders with more than 2 months on the platform. 

The risk level should be 3 maximum. The number of followers is also a good indication that his followers stick to him and are making money with him. This trader has 696 followers at the moment and the total fund on management is 1.1M$, which shows that lots of money are being managed so the strategy manager should have a solid trading performance. 

The maximum drawdown is also an important indicator of a good trader. It shows how he takes care of the losses he incurred. The above trader is good but the little bad point of his performance is 44% drawdown, which is almost 50% of the account. Note that the figures shown on the platform might not be too accurate. There are more information in the chart tab where you can find out even more information about his past trading. 

Each strategy manager on ForexTime set his/her commission rate on profit the followers make each month. It is usually 30%, and there is no guarantee of you making profits. You should carefully assess the risk. Each trader allows the minimum capital to start. Most traders allow 100$ to start. You can start investing with a trader with a low amount like 100$ first to see the trader's real performance before considering adding more capital. 

Open an account with ForexTime here

Key Affiliate/Internet Marketing Resources You May Need

Just as a carpenter needs a toolbox for himself to do his work more easily and efficiently, we as internet marketers also need those resources for ourselves to complete the tasks in the process of our work. Here I will share some marketing resources you might need as a successful internet marketer.

Hosting and Domain

If you want to start your own blog or webpage, you need to build a website. To have website, you need to register a new domain name like makemoneyonlinewithaffiliatemarketingtips.com, ibotoolbox.com, etc. You can register your domain with namecheap.com, which is the service I have been using for many years and I also highly recommend it. You need to pay yearly fee for your domain name around 10$ per domain per year. Then, you need your hosting server to host your website files so I recommend Hostgator.com, one of the most popular hosting services out there. You can choose Baby Plan to start and with Baby Plan, you can host unlimited domains under one server. Namecheap and Hostgator are seperate services so after you receive the nameservers from Hostgator, you must update your Namecheap domain with Hostgator nameservers so that it will link each other. After updating the nameservers, you may need to wait around up to 48 hours, mostly less around 12 hours for domain to propagate or connect.

Content Management System (CMS)

Content management system is the software installed in your hosting server to run your website content. Here I recommend using Wordpress because it is the popular and easy to use one. Installing wordpress can be done in one click. It is easy and when you have it installed, you then can write the articles, include media pictures, videos for your posts easily just like you are writing articles in your MS. Word.

Email Marketing

If you want to build lists of prospective customers for future contacts for new promotion or follow-ups, you can use email marketing service to do that. There are many popular email marketing services out there such as Aweber, MailChimp, GetResponse, etc. This service allows you to set pre-written emails or new emails and then you can schedule your emails to be sent to all your customers automatically at once. I guess we don’t have time to send one email by one email, right? Yes, that’s it. This service also lets you create opt-in forms so that you can place the code anywhere to receive new leads automatically on the cloud. You can build many different lists by paying their monthly service fees. It is one of the most used methods by top internet marketers and it is the lifelong asset for your business.

Media Tools

In content creations, you will need various tools to create your contents such as articles, pictures, videos, audios, etc. So you may need Camtasia/Screencast to record your screen activities. It is a good way for you to create the video tutorials. You may need Adobe Photoshop to edit pictures because you want to make your own unique images, not copied ones. You also need the video camera sometimes to record yourselves and edit them into videos to post on your Youtube Channel. In addition, to edit your videos, you need some software for that purpose as well.

Skill Resources

Lastly, I want to tell that now everything can be learnt through Google. Google contains all types of information. If you are not sure about anything, you can research on Google engine. For example, you are not sure on how to register your domain name and set up your hosting, wordpress, etc, you can go and search for those tutorials on Youtube. Just type search with the key terms like “how to install wordpress on Hostgator tutorial”. It will show the available videos and articles to help you step-by-step. Actually, I have learnt everything about internet marketing through Google and Youtube.

In conclusion, I hope you enjoy my article here and you learn the required information to start your internet marketing business. My resource here is not exhaustive, and you may need more tools to help you but I hope this can serve as basic. If you want to learn the professional methods to make money online from affiliate marketing, check out Super Affiliate System review here.

Top 3 Mistakes of New Traders

Trading seems untouched by many people. I started trading back in 2015. The main purpose of starting it is just to test new way of making money because I am too familiar with the traditional brick and mortar business since I was born. After I had traded for a while with some losses and difficulties, I realized that though it was modern to trade, it was still as hard as the usual businesses to make money. So here I share the top three mistakes when I started, wishing I should have known them earlier.

First, many don’t understand how the market actually works before they start. They don’t understand the risk in the markets. The markets are based on free market model whose prices change according to the global supply and demand. The markets are 70–90% dominated by the big financial institutions around the world such as central banks, intermediary banks, investment funds, hedge funds, etc. The price movement at any single moment is the result of buying and selling volumes matched from traders around the world. Trading is purely speculative on the mass market sentiments.

Another mistake is they don’t take time to learn how to trade properly. Many think it easy to make return. Some decided to invest huge amount of money since the start without taking time to learn. They should seek the real experts to coach them on how to trade in a professional manner. Success in trading depends on the understanding of professional technical analysis such as price action, the right trading methodology and risk management techniques. All these can be learnt only from a genuine successful trader.

Finally, traders don’t manage their emotions in trading. Emotions are the enemies of your trading. If you ask many losers in trading, they will tell you that their failures are due to their inability to manage their harmful emotions. Trading needs you to follow the rules and trading plan strictly. No emotions should be used to attach to your trading. As a trader, you need to be patient until you reach the goals. Greed and fear are the greatest emotions which drive many traders lose their shirt. Again, let emotions run but don’t let them affect your trading.

In short, these three mistakes were the obstacles I experienced which made me unsuccessful back then. However, now I reached a level of a so-called professional trader, able to accept all the good and bad aspects of trading and finally making money consistently. I am sure you can do it as I can too. Also visit my Auto Binary Signals Review, the binary options signals software I have been using for years to trade binary options successfully.

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Cheating Internet Scheme Everyone Needs to Be Aware Of

People who come to find the way to earn money online are usually amazed by some scammers who put up the websites to cheat innocent people who don't have enough experience in the online scams.

That scheme is called High Yield Investment Programs, in short HYIP. Most hyips claim they will reinvest your money by their trading expertise in financial markets such as stocks, commodities, Forex, etc. The unfortunate fact is 99% of those types of sites are all scammers. Let's look at these banners I took from www.azhyipmonitor.com.

Most of these websites are run by a few admins. The scripts can be bought online and installations can be done with support and tutorials. That means even I don't have any coding skills, I also can put up these types of sites to scam people.

Let me mention the biggest scam in Cambodia run by a company called EBC, Empire Big Capital. EBC operated from around 2013 until 2015. The groups who run it are a few people from Hong Kong and Cambodia. In its operation, EBC promised monthly profit of 10%, which was a low profit rate compared to other hyips on the internet. EBC said it trades the client money in the stocks and Forex markets. In fact, it is just a ponzi scheme. Ponzi scheme means the program will be still running only with new money coming in to profit existing investment funds. EBC has scammed millions of dollars from Cambodian people in almost all provinces. Some farmers even borrowed the money from the banks to invest in EBC. Now EBC is gone and no authority can get those money back to the investors who lost the money.

I would recommend to stay away from these sites. You will be over 99% scammed. However, why do I still have recommendations to Ethtrade.org? I have observed Ethtrade for almost one year. I have also invested some money there. Ethtrade trades only cryptocurrencies. Ethtrade is the only recommended company from my blog. Ethtrade doesn't give fixed return. It depends on the profits from their daily trading activities. Ethtrade has traders across different regions. Ethtrade trades only from Monday to Friday. Some days I see my profits on investment is only 0.15% but some days up to 1%. Ethtrade keeps 50% of profits from trading so it has a large pool of funds to secure the investment funds from the clients.

Hence, when you see hyip sites, please be super careful! However, if you really want the right way to earn money online, you need to have some hard work, patience, and skills. I suggest you to learn how to trade binary options or Forex. Trading requires skills and practices so you can trade on demo account first. Trading Forex or binary options can get you to the right money making method. Besides, you can do blogging. Blogging requires time but it can reward you in the long term. To succeed in blogging, consistency is the key. Just keep writing on your blog. I have other recommendations so you can go through my blog or other blogs.

Trading Binary Options or Forex by Using Support/Resistance

Support/resistance levels are the basic price action tool any traders can use to decide their trade. No matter which level of trading experience you have, professional traders cannot ignore the support/resistance levels. In fact, support/resistance is seriously integrated into their trading methods. So I will show you my personal way to make use of support/resistance levels to trade binary options or Forex.

Support level is the bottom line that determines the level where price is expected to bounce back up after falling. The strength of each support level depends on how many touches the price has done and bounced back. A good support may have at least two or more touches to the level. See the picture:

Resistance level is the top line that determines the level where price is expected to bounce back down after rising. The strength of each resistance level depends on how many touches the price has done and bounced back. A good resistance may have at least two or more touches to the level. See the picture:

Note: the support/resistance levels at the higher time frames always have more weight (strength) than the counterparts at the current or lower time frames. That's why professional traders always go to draw the support/resistance levels at the higher time frames first before they actually find the entry points at their current time frame.

Now you know how to draw the support/resistance levels. What's next?

We then need to observe the price when it reaches those levels. We want to find out if the price is going to break through the levels or bounce back. To easily trade the support/resistance levels, here I will show just how to trade the price bouncing back.

So we are going to add one more indicator to identify overbought/oversold conditions. Overbought level means the level at which the price is rising to an extreme point by which the price is expected to move back down. Oversold level means the level at which the price is falling to an extreme bottom level by which the price is expected to move up.

In this case we will add Stochastic Oscillator to the chart with default setting. We can use other indicators to identify overbought/oversold conditions but they work the same.

When the price moves to touch a support/resistance level, we need to wait for what the price is doing (to break through or to bounce back). Remember we trade bounce-back only. We also have the method to trade break-out but I will show you in the next post.

Then we look at Stochastic Oscillator. We can confirm the overbought/oversold conditions only the stochastic oscillator is in the over 80 zone (overbought) and under 20 zone (oversold). So now we have two confirmed indications. We need to wait for one more confirmation.

This last confirmation requires your knowledge of reversal candlestick patterns. There are many patterns to learn. You can search on Google about them but engulfing reversal pattern is the most powerful one. However, we can see on our naked eyes when the price should fall back or rise back when it reaches certain levels.

[caption id="" align="alignnone" width="449"] Bullish Reversal Patterns[/caption]

[caption id="" align="alignnone" width="1210"] Bearish Reversal Patterns[/caption]

In Summary

To trade support/resistance, you need to have three different confirmations according to my explained system above.

1. The price has touched strong support/resistance levels.


2. Stochastic Oscillator shows that the price is being in the overbought/oversold conditions.


3. We look for the reversal candlestick patterns to form their clear shapes.


4. Enter the trade.

If you need suggestions on how to set stoploss level and take profit level, please comment below. If you need to know what expiration is suitable for binary options trading, please comment below too. I hope you have learnt a sweet system from me today. Practice will make you understand it even better.

Example trades

4 Hour Time Frame, Resistance level from D1 Time Frame

4 Hour Time Frame, Support Level from D1 Time Frame

None-Scam Ways To Make Money Online

Making money online is still a controversial topic even when now we have seen many have already been making money from it as their full time income. The problem arises from the fact that online is the anonymous place where many can rip others off and run away without tracing them. So some people are taking advantage of the trend in which many are greedy when they turn to online for income. They want to be fast rich with time and freedom Internet can provide. That's why I will recommend the only ways that prove you are staying away from scammers.

Running Your Online Shop in Your Local Areas

Opening your own online shop is much easier now with Facebook. Young businessmen have seen this potential and some have made good money from online shop. To open your online shop, you need to have some capital to buy the goods ready to be resold. You can order online goods from big companies such as Amazon, Alibaba, etc. However, it takes at least 15 days for your goods to arrive. Instead, you can contact local suppliers that are selling their products in their shop. When you receive orders, you can go and buy from those suppliers and resell for a higher price to get your profit margin. Right now, there are a few delivery services. They charge some small fee to deliver your products. To get your products seen by potential customers, you can spend some money on Facebook advertising. This is the fastest way to get some orders, especially for your new online shop which not many people know about. The best way to do it is create a new page on Facebook about your products and use it in your advertising. The bad part of online shop is sometimes you receive fake orders or from people who are playing around with your business. But make sure try to make your service as perfect as possible, thus improving your reputation and driving more sales.

Blogging

Blogging is an old way of making money online but it is still the main businesses many people are making a killing money online from when their website becomes an authority site. Any people who want to extend their reputation or businesses always have their personal blog whether to make money or just to share something. Blogging is about choosing your favorite niche, and start to write about it on your blog. You need not spend any money with blogging for a starter. For instance, wordpress.com allows you to create your very own blog in minutes and what you have to do is to write useful contents on it. No need any technical experience because all these platforms design WYSWYG concept for you. When your blog is receiving many daily viewers or followers, you can monetize it by placing ads (Google Adsense), promoting affiliate products, or sell your own products there.

Youtube Vblogging

Doing videos can make you money with Google Adsense. Youtube is the biggest video platform which allows its publishers to create and upload their videos and then monetize those videos by showing ads. Before you start video blogging, you need to find your own interest. Something that you have knowledge or skill about can be your niches. You then start to create your own videos and post them about that niche. However, Google has just started to restrict ads on videos. Now your video needs to have at least 10,000 views before ads can be shown. Adsense is not the only one monetizing method; you can use your videos to promote your products or affiliate products or build your followers in your niche for further benefits.

Forex Trading And Binary Options

Making money online can also be done by trading. You can do two types of trading: Forex and Binary Options. In Forex here, I also include Stocks, indices, and commodities too because now you can trade all these assets right from your computer software, specifically Metatrader 4/5. You can trade binary options from your browsers. Trading here is about speculating the movements of the prices of those financial assets. People now can trade cryptocurrencies such as bitcoin, ethereum, ripple, dash, etc. as well from their computer. Success in this area needs the right training and experience. You have to be careful with HYIP (high yield investment programs). Many hyips make use of Forex trading or other types of trading as their method to advertise their hyip ponzi scheme. Most hyips don't trade and their income depends on incoming funds. Usually they will close down their site when no new funds are coming to support existing investments or they run away with millions of dollars. The main feature of scam hyips is they do not show the real identity of people behind. About trading, choosing the right broker is also the critical part of success. The key is the get the right coaching and build up the necessary skills. The Forex broker I recommend is XM and Alpari and my binary options brokers I recommend are 24option, Stockpair, Iqoption, and Binary.com.

Freelance Services

Providing online services is also the smart ways to make money from home. You can go to the websites such as Upwork.com, Toptal.com, Elance.com, Freelancer.com, etc. to become a freelance worker. You can get paid in hour basis or project basis. With freelance, the most demanding skills include web development, mobile development, software development, designs, content writings, customer services, virtual assistant, marketing and consultancy, or you can post small services like video creations, logo designs, paintings, video posting, or content writing on gigs on Fiverr.com. To become the top freelancer, you have to provide great services to your customers. When you receive a lot of positive feedback, your service will rank higher, making you receive more orders.

Conclusion

All the ways to make real money online I have mentioned here are not exhaustive in any way; I know that there are more ways to make legit money online. So this post can be updated with more methods if you recommend below. By the way, when you make money online, please try online legit ways. Avoid any types of businesses that are more likely to be a scam. Building an online business requires time and efforts and it is not the way to get rich fast. I hope you will find your right way and keep doing it.