Good day friends, how many of you are glued to your MetaTrader MT4 trading terminal every day? I have quite a few friends who are active forex traders and have been in the markets for quite a few years. They are very dedicated and work hard, but as many other retail traders they have a day job they need to attend to which leaves them with two options: The first one is to spend the rest of their free time analyzing charts and finding trading opportunities while neglecting their families and ruin their overall social life and the second one is to cater to their social needs and try to enjoy life with what they have while neglecting the forex market and the potential profits which they want to use in order to better their life.
As you see my friends, many are left with two terrible choices. The reason many of us are in the forex market is to earn additional income so that we may improve our overall lifestyle which will lift out family. In order to that, many tend to neglect one in favor of the other. Overall, this is not a good combination and I urge forex traders to make sure and balance both out. My name is Maithripala and I am from Trincomalee, Sri Lanka. I have started with forex trading about five years ago as a part-time trader. I am working full-time as a pharmacist and I have face the same dilemma as others.
Most believe that money is their biggest issue when it comes to forex trading, but I think time is an even bigger problem. I have learned in my first two years as a part-time forex trader that in order to become successful, you need to treat forex for the profession it is. There is a reason professional firms employ scores of analysts, traders and portfolio managers. At the end of the year, they are happy if they returned 8% to 12% per year. I am talking about professional traders here, so I am not sure what makes most think they can outdo this from their living room with placing a few trades here and there. Being unrealistic is a bigger forex trading killer than bad risk management.
I choose my forex broker and open an account with $4,200 which was a combination of savings and a small bank loan I was happy to take out. Taking a loan is not something I recommend, but with my salary and that of my wife it was well within our means. I lost about $2,000 in my first six months and that forced me to take a break and educate myself a lot more about forex trading. There is much more to it than charts and technical indicators and an economic calendar. Assuming I could match the average provisional annualized return on my $2,200 which were left after my losses, I would earn roughly $200 per year. Now this is not bad and much better than what I would get at the bank in interest payments, but is it worth the hard work required?
That is a tough question to answer and for me it was not easy. I decided that in order for me to keep going, I needed to make some adjustments. I knew building a good income stream through forex trading requires time and patience. This is how I created my Trader Oriented FX Revenue Stream. First I needed a partner to help me through this process and for me it was my wife. It allowed us to spend more time together and keep expanding out forex trading capabilities. I also decided to become an affiliate with my forex broker, PaxForex. I am sure you read plenty of good and bad things about affiliate marketing and different affiliates have a different approach and a different outcome.
Those who focus on profits are likely the ones who have bad experiences. Let me give the following example: Assume that your doctor sends you to the pharmacy in order to get the medicine you need to get healthy, but instead of telling you what to get he simply points you to the pharmacy where you should figure it out yourself. Most will not know what to get and possible pick medicine which will make them feel even worse. That’s the same as a forex affiliate sharing links on social media. It will not help anyone and those who follow are likely to end up with losses which will further move them away from their goal of earning money as a forex trader.
You need to take care of your traders if you want to be successful. I like to get to know my potential traders before sharing my link. Another big mistake is to simple message your links to people you don’t know. This spam approach is bad for everyone. I contact new potential clients, talk to them about forex and ask them what it is they need. We talk about the time issue and my task is to offer them more than just a link. I offer them a service which will improve their life before placing forex trades. Some take advantage of trading signals which I share or of market analysis and commentary which I provide. Take care of your traders, and they will take care of you.
My Trader Oriented FX Revenue Stream has led me to add a great income stream from forex trading and those profits go into my trading account. After I dropped from $4,200 to $2,200, I have now recovered to over $8,000. My balance keeps growing and now instead of earning just $200 per year I am approaching $1,000 per year. My wife and I will now repay our bank loan and maybe take out a bigger one in order to invest in our business. After we reach $2,000 per year in income, my wife will quit her job and focus full-time on the affiliate side of our growing firm. In order to make things easier, we take advantage of the free trading signals which are provided by forex broker and then determine which trader would benefit how from which signal.
In some cases, we also provide non-forex related assistance to affiliates in order to help them with their business needs. This consultant service is also rapidly growing as demand is great, especially from foreign firms who seek to establish a presence here in Trincomalee which is the biggest shipping refueling hub for global maritime traffic. The opportunity to provide non-forex related services in return for traders signing up as our affiliates at PaxForex was made possible through a contact who liked the trader oriented approach we offered. In most cases when you work hard at something and are not driven by money, the business can take you to places you never thought possible. I think over the next five years I will buy the pharmacy I work at and focus full-time on my Trader Oriented FX Revenue Stream. I invite you today to take advantage of the great opportunities offered by PaxForex and their affiliate department, contact me below if you need assistance to get started. Together we can boost your profits through hard work, dedication and smart partnerships!
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