Can Trading 10 Pips A Day Make You Rich on the Forex Market? PDF Print E-mail
Written by Adam Woods   
Wednesday, 24 March 2010 20:30
The foreign exchange market or forex, is the most volatile market in the world and boasts a massive $3 trillion being traded every day. In certain countries earning money from the forex market as a second income can be tax free.
by AdamWoods


The foreign exchange market or forex, is the most volatile market in the world and boasts a massive $3 trillion being traded every day. In certain countries earning money from the forex market as a second income can be tax free.

The forex currencies shift 100's of point's everyday and taking a slice of this shift out of the middle of a trend is often the safest and most reliable way of making money. Professional traders around the world use this method of trading with the trend to make them rich.

The forex market like most other markets moves in waves and it steps in the trended direction. When the currency is moving in the desired direction it is good practice to try and enter the trade as it is making a new high or low on that particular trend. The trend may only make a new high of 10-20 pips before it reverses back again this is why trading 10 pips at a time is a great way of making stress free profits from the forex market. Depending on the amount you trade per pip will depend on whether or not it can make you rich.

If you imagine setting yourself up to trade one of these 10 pip trades at 10 pips a day and you enter the trade just as it spurts in the right direction. The trade travels 20 pips in the right direction so you move your stop loss up to the breakeven point. The trend continues with slight draw backs for a further 50 pips, that would be a huge profit of 500.

Even if you only managed to get the 10 pips every day at 10 a pip that is a massive 2000 a month tax free. Trading this method often sees trends in the region of 30-100 pip moves. I will let you do the mathematics, but in answer to the title of this article I would say that trading this method can definitely make you rich

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

Adam had been trading forex for years with little success. Adam, at first had no experiance of the forex markets so he joined Colin Atkin's selected members club. Colin is a professional trader who shares his trading live, all you have do is copy what he does and take the proceeds. Since Adam joined Colin he has had the cash to invest in other business opportunities.