You eliminate the grunt work from Forex trading when you trade with Forex signals. You are not required to conduct any market research. Pro traders who provide the indications conduct market analysis. Using Forex signals, in fact, does not necessitate much knowledge of how to trade Forex. All you need to know is how to enter the signals correctly on MT4. Many good Forex signal providers are now accessible on the market, and you may use trade copier software to mimic their precise trades.
In this post, we'll look at how you may transform a $1,000 investment into a $1 million profit by using a Forex signals source. Auto trading refers to the use of trade copier software to automatically duplicate signals to your MT4 account without your intervention. Of course, the trade copier program must be installed appropriately.
Money management is becoming one of the most crucial aspects of trading. Due to the use of different money management strategies, two traders may make the same number of pips but end up with different capital gains. The value of a sound financial management system cannot be overstated. So, we'll look for a signals source who can consistently make 1000 pips or more every month. Assume you find a signal service that consistently makes at least 1000 pips per month, and you are satisfied with the service after trying it on a demo account.
The Fixed Fractional Money Management System will be used. This implies that when you first start trading, you will only be able to trade with one mini lot, and as your account grows, you will be able to trade with twice as many mini lots. As a result, you'll begin with one small lot. When trading with a 1 mini lot, 1000 pips is $11000=$1000. So, if you make 1000 pips, your account will be doubled to $2000. You will now trade with two small lots. When trading 1000 pips with two mini lots, the result is $21000=$2000. So, you've doubled your account balance to $4000 once more. This is how things are going to go. When you double your account at each level, you double the amount of mini lots, and if you're making 1000 pips, you'll always double your account balance. The following is an example of how your account balance is progressing:
$2,000 = $1000 + $1*1000
$4,000 = $2000 + $2*1000
$8,000 = $4000 + $4*1000
$16,000 = $8000 + $8*1000
$32,000 ($16,000+$16*1000)
$64,000 = $32,000 + 32*1000
$128,000 = $64000 + $64*1000
$128,000+
$256,000 = $128*1000
$512,000 ($256,000+$256*1000)
$512,000+$512*1000=$1,024,000
So, if you consistently make 1000 pips every month, you'll have a million dollars in your account at the end of eight months. And if you produce more than 1000 pips per month, you'll get there a lot faster.
