Simple Way To Become Self Employed And Work From Home

There a lot of ways to become self employed but no matter how you decide to pursue this lofty and admirable goal there are two things one must have a proper mindset and skillset.

Learning to Trade and Blog are just a couple of the Skillsets taught to the able and willing here on Fx4Felons.

You also have to have a legitimate  opportunity that can produce the results  you are looking for as far as the amount of income you're looking to make.

Im not going to get into all the different ways and programs out there, I covered this subject in the Home base vs forex article here on the blog. Over the next few minutes i'm going to focus on the forex market because i believe it gives average people the best opportunity to start a home business with unlimited income potential.

The foreign exchange market is the biggest most liquid market on the face of the planet with a daily turnover of 5 trillion dollars. You can watch an in depth video on it’s beginnings here. But here’s my simplified explanation.

When you start a forex business your job title is a retail currency trader and your product is literally money. You will be buying and selling money. Different currencies have different exchange rates and this is the key to making money in forex. The price of currencies go up and down over and over again 24/7. So if you buy a certain currency say at 1.00 and it changes to 3.00 then your profit would be 2.00 minus broker’s fees. You can also make money when a currence decreases if you put in a sell order and the price goes below the price at which you bought initially. If that sounds confusing just put it on a shelf it’ll make more sense later. Just understand you make money by buying and selling money from all over the world just like any other product or service.

You may be wondering how do you know when to buy and sell to make money. This is done by looking at and analysing price charts. Here is one way they appear and what they will generally look like if you learn from this site:

What you are looking at above is a price chart. They come from a software called mt4 click here if you have not downloaded it yet. If you look to the far right of the picture you can see a list of the prices and at the bottom are dates. In the middle are japanese candlestick and the three green lines are called bollinger bands. The combination of all these give signals of when and when not to buy or sell.  

Price charts also have different time frames like 1 minute, 5 minute, 15 minute , 30 minute, 1hr, 4hr, Daily, weekly and monthly. You will be taught to only trade the longer time frames day, week and month because the make more money and you don’t have to spend hours at the computer trading. You can trade the shorter time frames and can even make money in the short term but most don’t make long term money doing it because the shorter time frame are unpredictable and it take a lot more understanding and energy.

So in simple terms you will be a business owner and your product is money. You buy and sell monies from all over the world. Your software and knowledge of how to use the software guide you in making purchasing decisions that can make profits or losses for you. One of the biggest benefits of this industry is you can open a demo account which is a practice account that doesn't risk your real money. Once you can keep a positive cash flow in your demo then you can open a real live account and make the same amount as you did in the demo account. It doesn’t get any better than this in my opinion.

This is by no means a comprehensive explanation of the forex market or how to make money trading currencies. I just wanted to put something into simple terms. If you are new here the one of the first things you should do is go register at my mentors site LuckScout.com. Registering allows you to earn points that will turn into cash that you can use to open a real live account once you pass phase one which is demo trading and making profits in your demo account.

You should also be reading The Master Key System.

This is the Mindset portion taught here at Fx4Felons.

This will teach you how to think like the wealthy. Don’t neglect this task remember Mindset + Skillset is what allows one to get needs met on every level not just one or the other. Well that’s it for now. You have a a lot of information to digest so I will end here. Remember im here to help so feel free to ask questions. Good Luck!