How to Make a Few Extra Bucks a Month From Online Currency Trading

ByFlaviu Serban

Many people made several resolutions in the New Year. When crafting yours you may have decided on how to make a few extra bucks a month. You may also have decided to learn to make money online in a legitimate and honorable manner. Whatever resolutions you have made, it is in your own good to take the right steps to make them a reality.

The best way to make a few extra bucks a month online in a legitimate and honorable manner is through online currency trading also known as forex trading.

It goes without mincing words that we could all use some additional cash these days to help pay some bills. The challenge is finding the time to figure out what to do to bring in the extra bucks.

To get started with online currency trading, you must first understand the basics. You must understand that currencies are traded in pairs, where you are buying one currency and selling another at the same time. The most popular forex trading pairs are the EURO/USD and USD/YEN.

To make a few extra bucks a month, you must find a broker that is right for you. Then, open a new online trading account with the broker.

The next thing is to open a demo account with the broker. You can decide on opening three demo accounts and test your knowledge of the market for a few weeks or months before opening a live account.

It is important that you get a good hands-on practice on your demo account before you commit real cash.

At this juncture, I must let you know that some brokers are scammers. It is in your best interest to do a good research and review of online currency brokers before you register with anyone of them.

One good way brokers scam their clients is by manipulating the bid/ask spreads. Choose a broker that is registered with the Commodities Futures Trading Commission (CFTC) and the National Futures Association (NFA).

It is wise you invest in your continuing education about the forex market so you understand the intricacies of the market.

Once you have opened your demo account, you can now choose a currency pair and open the chart on the trading platform.

Then, you select a 15-minute timeframe. Add MACD and 200 EMA indicators to your chart.

At this point, you can now place your order. It is important that you set your stop loss and take profit levels before you proceed.

Then you can submit your order and wait for a confirmation.

Basically, following these steps can help you make a few extra bucks a month. This particular trade will help you achieve a successful take profit. If the price gets to the take profit level, you will see a reasonable profit of over $70.

You can make this kind of money effortlessly if you decide to take the bull by the horn today.

What if I should show you a simple system that you can start using today even if you are a complete newbie in online currency trading that will make you some extra bucks a month, would you be interested? Click here now to get started!