How to get profit without trading Forex
- Follow the Affiliate program, Introduce Broker, and White Label
- Using Expert Advisor (EA)
- Use Percentage Allocation Management Module (PAMM) Account
- Forex Autopilot Trading, ZuluTrade
1. Follow the Affiliate program, Introduce Broker, and White Label
2. Using Expert Advisor (EA)
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
- Please find a forex broker that provides PAMM Account facilities. Then please open a trading account at the forex broker.
- 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.
- If we choose PAMM Investors, we are required to deposit funds that will be managed by the PAMM Trader.
- 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.
- 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 …
- 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
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 https://www.zulutrade.com/ 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),
- We as forex traders can still set some trading limits that we will execute such as the number of lots and so on.
- 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.
- All profits earned are ours and do not need to share with ZuluTrade like when we open a PAMM Account.
- 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.
- 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.
- 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.
- 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.
- 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.