How to get profit without trading Forex

How to get profit without trading Forex

How to get profit without trading forex, can you ? can you Maybe most of you are wondering whether it is possible. We really can still get profit or profit from forex trading activities even though we don’t do Open-Close currency trading positions like most forex traders do. So this is most likely very suitable for those of you who still want to benefit from the forex market even though you do not want to do forex trading transactions or maybe because you do not have free time to run this business or it could be because you are not sure of your own abilities.
If you are curious and want to know what ways we can do to get profit without having to do forex trading then please just look at some lists of ways that we have summarized as below,
  1. Follow the Affiliate program, Introduce Broker, and White Label
  2. Using Expert Advisor (EA)
  3. Use Percentage Allocation Management Module (PAMM) Account
  4. Forex Autopilot Trading, ZuluTrade
Each of the methods above is very easy to run by anyone and these methods will be discussed in detail one by one.

1. Follow the Affiliate program, Introduce Broker, and White Label

Affiliate Program, to join this affiliate program is very easy. The trick is, you register to be a forex broker customer that you want to promote then you immediately register to become an affiliate.Next you will get an affiliate code whose content is the promotional code, usually in the form of a banner or registration form, which you must then promote to other prospective customers. To make a promotion then you can read the Term of Condition first so that what you will do later does not conflict with what is prohibited by your forex broker which if violated only brings harm to yourself.
To promote to prospective clients, customers, then you must have a very effective marketing strategy so that clients who register through your promotional code continue to increase in number. Some examples of promotions that are most widely carried out by those who do business forex broker affiliation is by way of promotion through websites or e-mail which is certainly accompanied by promotions using Google Adwords or Facebook Ads. Especially for websites highly recommended are websites / blogs that discuss business / financial issues, or even about forex trading.
To be able to get the kickback profit, we must be able to recommend a large number of clients and have a high quality so that the commission we will get will be even greater.
The Introduce Broker (IB) program, by becoming an Introduce Broker (IB) of a forex brokerage company, you will get a bigger commission / result if compared to running an affiliate program. And to become an Introduce Broker (IB) you will be demanded to be busier because you are a representative of a forex brokerage company so that you have the duties and responsibilities starting from registering new customers, complaints from customers, and directly fostering customer knowledge such as holding training or training about forex trading. So it can be said that the IB is an agency or an individual who is a direct representative of the forex broker and to become an IB, it is recommended that you know more about the forex world so that you can deal with customers who register through you.
If you want to become an IB, you are advised to form an agency, have an official website, and a physical office so that your prospective customers will be more confident about your own existence as an IB. And please note that by becoming an IB you also have the advantage if compared to running an affiliate program, that in addition to getting a bigger commission by becoming an IB, you can also give rebate bonuses to your customers. And this can be a special attraction for prospective forex traders to be able to join you.
The White Label program is a licensing program offered by forex brokerage companies to their partners. This means that you have to buy a license to use a trading platform so that you can become a forex broker who has his own name. But to become a white label, a forex broker company is quite heavy because we must be an official legal entity and have a large capital.
The advantage of running this program is that you have your own forex brokerage company and all customer commissions will be your own benefit but if there is a loss then you also have to bear it yourself. So the bottom line is to run a white label program so you are having a forex broker company yourself.

2. Using Expert Advisor (EA)

You can also use the help of robots / software to execute Open-Close positions on your forex trading so that you can still get profit even without having to do forex trading itself. This method is also commonly referred to as Automatic Automated Trading or Forex Trading, but keep in mind that the robot / software used to execute forex trading like this is made only based on technical analysis. So that the robot / software has not been able to anticipate the execution decision if it turns out that there is a news that fundamentally greatly influences currency price movements.

When you use the MetaTrader trading platform you will find an automatic trading facility called Expert Advisor and there are very many of them sold through this trading platform. Before you decide you will buy an EA, please check the quality of the EA that you can, starting from the review and comments column, so you don’t regret buying EA at a fairly expensive price. And if we see why there are so many forex traders who use this EA because by using EA,

  1. We as forex traders, especially those who always use technical analysis to execute forex trading, are not too bothered to do analysis because of EA which will determine when it’s time to enter or exit the market. Our job as a forex trader only needs to enter some parameters that EA needs.
  2. You will have more free time because your time will not be consumed to carry out technical analysis all the time so you can do other activities. And this is perfect for those of you who are only concerned with profit / profit without worrying about the methods / ways to trade forex.
  3. When you use EA, at least your emotions will be more controlled / reduced because those who do all your transactions are robots / software. Yes, even though it will still be emotional if the final result of EA matches / is not as expected.

Even so, we must always remember that the name robot / software which we then call EA is a tool and not a substitute for humans. And this robot / forex trading software is man-made as well which is sure to have errors so that we as users must also be vigilant when using it. Because based on some cases there are also many forex traders who experience losses when using this EA. So it is obligatory to know what its shortcomings are so that we are able to optimize its usage.

  1. EA is a software, if it is made based on the wrong program, there will be many mistakes made by the EA so that it could be only the loss that the user can get.
  2. EA is made only based on technical analysis and is not sufficiently able to fundamentally analyze currency price movements. So that if there is economic news that can affect the price of the currency then we must be vigilant. Because if we are not aware, only loss / loss we get.
  3. The type of EA that circulates among forex traders is very diverse because the name of technical analysis is also diverse in shape, moving average, stochastik, RSI, and so on, so the results obtained will vary.
  4. Most EAs are only successfully applied to the currency movement trend which is clearly a bullish and / or bearish form. Many cases that occur EA will result in losses if applied when the market is sideways.

3. Using Percentage Allocation Management Module (PAMM) Account

Is a trading account that has many functions, including managing its own trading funds or managing funds from other forex traders. So basically, PAMM Account allows us to be a fund manager who is in charge of managing funds from investors and we as fund managers can get a bigger profit / profit because the funds used also increase. But to be able to manage funds from investors we must be able to show that we can produce consistent profits / profits so investors are sure to put their money into your PAMM Account.
So, if we open a PAMM Account at a forex broker then we can use it as a fund manager in charge of managing funds from investors and will benefit in the form of greater profits because the capital we manage is also increasing. Then we can use the PAMM Account to become a passive investor whose job is to entrust capital to forex traders that you consider capable of making large and consistent profits. So that we as passive investors do not need to painstakingly analyze and trade forex.
Every PAMM Account performance we can monitor its performance from time to time, starting from the beginning of trading forex until now. So before you decide which PAMM Account to join, at least you first learn about the performance it has. And don’t let you miss this, because your capital / money will be managed by other people so you have to be really sure of the performance of the account so that there is no regret in the future.
We need to know that the PAMM Account is always controlled / monitored by the broker so that it is safer to deposit capital in the PAMM Account than deposit money with other forex traders. In addition, through the PAMM Account, everything is safe and transparent for each transaction position and profit is made proportionally as shown in the above picture or in accordance with the agreement.
Well, you can’t wait to know how to open this PAMM Account. No need to worry because the method is very easy and fast, namely,
  1. Please find a forex broker that provides PAMM Account facilities. Then please open a trading account at the forex broker.
  2. Please register the PAMM Account at the forex broker and usually we will be given the choice of whether to open a PAMM Trader in charge of managing funds or PAMM Investors who only need to deposit funds into the PAMM Trader.
  3. If we choose PAMM Investors, we are required to deposit funds that will be managed by the PAMM Trader.
  4. And if we choose the PAMM Trader then we have to deposit a deposit which is usually called the Manager of Capital and without these funds, we cannot be a fund manager. And after that, please offer your PAMM Trader to investors. But remember, please also convey the performance you have while running a forex trading business.
Even so, to run a PAMM Account is not as easy as we imagine, yeah! why ? because ,
  1. When we open a PAMM Investor and then look for a PAMM Trader who is able to generate consistent profit / profit is not easy because the past performance is not a reflection of the present. Because we don’t know what will happen tomorrow …
  2. And when we open a PAMM Trader and then look for a client alias PAMM Investors to want to be invited to join us is also not easy to do because we have to be able to show consistency in generating profits for them and this requires a short time. And we must continue to maintain our performance as a PAMM Trader or else investors will run away.

4. Using Forex Trading Autopilot, ZuluTrade

Also known as Automatic Forex Trading is a program that is in charge of providing trading conditions (trading and buying) then executing it into the broker system. This trading signal is a signal sourced from professional forex traders who join ZuluTrade and ZuluTrade itself is not a broker but rather a broker who works with brokers and trading signal providers or we can also call ZuluTrade a copy trading.

ZuluTrade is not the same as EA because ZuluTrade is filled by professional forex traders who are tasked with giving signals which are then copied by forex traders like us to be executed in the forex brokerage system that we have.
 So to open a ZuluTrade account it’s very easy, that is, please open the page then open an account and finish. But to be able to run a ZuluTrade account then you must have a forex trading account where the broker works with ZuluTrade if not then you cannot run this trading copy.

For consideration when using ZuluTrade, the following are some advantages compared to other programs such as Expert Advisor (EA),

  1. We as forex traders can still set some trading limits that we will execute such as the number of lots and so on.
  2. We can also also open transactions manually and in ZuluTrade we can still modify transactions that are still running right. So ZuluTrade is flexible to the decisions of forex traders.
  3. All profits earned are ours and do not need to share with ZuluTrade like when we open a PAMM Account.
  4. We don’t need to be a reliable analyst because all the signals provided in ZuluTrade have been provided by professional forex traders and all we need to do is copy the signals they provide and then execute.
  5. Then this is the most interesting part, we as forex traders do not need to have to constantly monitor the monitor screen, it makes you tired, bro, because this is the task they will do, namely the forex traders professionals and ZuluTrade.
Now, after you know what are the advantages of using the ZuluTrade program, now is the time for you to also know what the disadvantages are,
  1. ZuluTrade is the same as the copy trading, so there is a delay time that is the time needed to execute a signal from a professional trader into your broker system so that the results are not necessarily the same as the results of professional traders that we copy the trading system.
  2. When using ZuluTrade we will not be exposed to spreads but we have to pay commissions because ZuluTrade is similar to a broker. So you have to issue trading fees in the form of spreads to your broker and also the commission to ZuluTrade, but the amount of this commission is not too big anyway. And the commission obtained by ZuluTrade from you will also be shared with professional traders who provide the forex trading signal.
  3. Now this is part of the difficulty, bro, it turns out that extra work is needed to find good trading signals because past performance does not reflect current performance so we have to evaluate performance as well as this.

How, interested in using one of the programs above? if you are interested please practice to do it but don’t forget to always use the DEMO Account first, especially the number 2, 3 and 4 methods.

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