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Have you ever thought about getting into trading but you feel anxious about risking your own money?
What if I told you there is a way to enter the trading game using other people’s money(OPM)?
Would that interest you?
But before we get into that, if you’re a newbie, you’re going to need
to learn the basics of HOW to trade.
For starters, you are going to need a laptop or a desktop computer.
Yes, you can trade on your smartphone, but it is much more difficult.
Having a computer with a good size screen will make things much easier.
Where to get funds to trade with? Click here> OneUpTrader
and choose which level of challenge you would like to complete.
OneUpTrader is where you will be getting your funded
trader account from, once you pass one of their trader challenges.
Now, you will want to decide on which asset(s) you would like to trade.
I like to trade the Nasdaq micro futures, and you will find this in your trading
platform under the symbol MNQ. You can also trade regular futures contracts,
but you will be placing your capital at HIGH RISK! With micros, you can
still make plenty of money, and keep your risk at a more manageable level.
You will also want to consider what time of the day you want to trade.
Technically, the markets are open from 5PM CST until 3:10:PM CST,
Monday through Friday, and you can open trades at any time during those hours,
BUT the best time to trade is when there is the highest VOLUME of
trading in the markets, which is during what is called the “New York Session,”
from 8:30 AM CST, until market close at 3:10 PM CST.
The type of instruments we are trading
are called CFD’s, or “Cash for Difference.” A “buy” trade is called
“going long,” or also, a call option. When you “sell,” you are technically
BUYING a put option, or taking a “short” position, aka “going short.”
Your profit on each trade is calculated by the DIFFERENCE
of how much price has moved from your entry point,
thus the terminology of “cash for difference.”
Here’s an example of my trading on Mondy, 1/27/2025. Started at 6:00CST and
this screenshot was taken at 8:50CST. I could go ahead and exit, but
I have a take-profit target preset, and I am waiting for price to hit my target.
I had messed up and taken some trades that I shouldn’t have, so I was down $645,
but I got back in later and ended up closing that trade at about $1,500
for a total profit of $941.36. I could keep trading and try to make some more moola,
but NOPE screw that! $900 before lunch is not too shabby!
Not bad for a few hours just sitting around listening to your favorite metal bands, or Nicki Minaj or
whatever you like to listen to. I like to listen to Iron Maiden, Metallica, or
Slayer while I’m working out and waiting for my trade to play out.
One VERY IMPORTANT point to take notice of…you will do well to avoid
having any trades open 2 minutes before or 2 minutes after a high-impact news release,
and some prop firms have a hard rule that you may not trade during
certain news releases, like FOMC, PMI, unemployment numbers, non-farm payroll, etc.
To stay abreast of news releases effecting the financial markets, CLICK HERE.
Make sure to update the time zone once there. High-impact news releases
are designated by a RED BOX next to the news event.
The reason for staying out of the markets during these news releases
is that the market can react violently and unpredictably,
and you run the risk of losing much or ALL of your account balance.
RISK MANAGEMENT is the most important skill that you can learn!
Remember this. Proper risk management coupled with
a mature command over one’s own mind and emotions
is an UNSTOPPABLE combination!
Now, I am going to give you the ultimate CHEAT CODE
to winning in the markets. This is, as I mentioned in the title,
how you can make money trading even if you have a full time job.
Next, you will want to learn about using TradingView if you aren’t already familiar with that.
I like to have my browser
open to TradingView and do my analysis from there before taking trades on MetaTrader.
This isn’t absolutely necessary, but I find it makes my life easier.
Another alternative you may wish to consider is linking your trading account
to already-successful traders’ accounts to automatically copy their winning trades.
Just be sure to read the terms of your preferred prop trading firm carefully
to be sure whether they allow copy trading or not.
Watch this Video on our Copy Trading Service
If you do not have the capital required to start with that program,
also search on their channel for cent accounts.
With a cent account, each penny counts as one dollar,
so if for example you deposit $100 you can trade that
as if it were $10,000.
If you’ve made it this far, congratulations! People who “don’t have time” to read a “long” article like this
most likely aren’t ready to do what it takes to get good at trading.
This ain’t no get-rich-quick scheme, PLAYA!
Now, here is the MOST important piece of the trading puzzle…
Thanks for reading, and I hope that you find this information useful.
To Your Success!
Sammy Heath