You must read these rules for the Million Dollar Trading Challenge:

Rule#1-Relax. There can be many days when we don’t trade. So don’t get impatient. We will only open a trade when we have a high probability trade setup. It is essential that you install MT4 on your smartphone and open my emails at the right time. So that you can enter the signal immediately without much delay. Read this post that explains how to setup email alerts on your smartphone when I email you. Once you have setup the email alerts on the smartphone, every time I send you either the forex or the binary options signal, you will get an alert on your smartphone either as a sound or vibration. When you get the email alert, just open the MT4 app or the binary options broker app and enter the trade. It is as simple as that.

Rule#2– The risk per trade should not be more than 2%. You must follow this 2% risk management rule with full discipline. Our focus will be to catch the big moves in the market with a small stop loss so that each trade has a high reward/risk ratio. We will focus mainly on GBP/USD, GBP/JPY and EUR/USD pairs. However we will also be trading USD/CHF, USD/JPY, EUR/JPY, NZD/USD, AUD/USD, USD/CAD, GBP/AUD, GBP/NZD, EUR/AUD, USD/TRY, DJIA, Gold, Silver & Oil when there is a high probability trade setup. Mostly I like to trade GBP pairs like GBP/USD, GBP/JPY, GBP/AUD and GBP?NZD. These pairs have high volatility and we will have more than enough opportunities each month to make at least 100% return. I also keep an eye on gold, silver and crude oil. We can also trade these commodities when there is a strong trend.

Rule#3– The same rule applies to the binary options signals. Binary options signals will have expiry of 30 minutes. When you get the signal and can’t open a trade within 5 minutes, just ignore the signal. You will get 4 binary options signals daily.  The same risk management rule applies to binary options. Don’t risk more than 2% of the account equity on a single trade as said above. If you are new to binary options trading, I recommend that you open an account with IQ Option. You can open an account with a deposit of $10. The minimum trade size allowed is $1 plus there is a demo account option also available. So if you have a deposit of $100, you are only going to open a trade with $2. When your account equity increases to $200, you can open a trade with $4 and when your account equity increases to $1000, you can open a trade with $20 and so on. So it is very important that you don’t risk more than 2% on a single trade. Follow this rule with full discipline and you will never suffer catastrophic losses in your account.

Rule#4-It will be a good idea to test the signals for the Million Dollar Trading Challenge on the demo account for one month first. Once you become confident in trading my signals, you can start trading live.

Rule#5-You should exercise daily. I jog 5 km daily. You can go to the gym. Taking long walks either in the morning or the evening in a nearby public park is also a good idea. Forex trading is a stressful game. It can be many hours before a signal appears. You need to be constantly alert and vigilant in making the trading decisions. Price will be moving down when it will all of a sudden change direction and start moving up then again change direction and start moving down especially on news announcement. Physical fitness is a must if you want to become a full time trader.

 

 

2 Comments

  • Ravesh Biseswar

    June 5, 2014

    looking forward to restarting our trading adventure :)

  • mahono widajat

    June 10, 2014

    I do the rule

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