More professionals take up Forex Trading for secondary income
Money, The Straits Times, Monday, 25 October 2010
More professionals and executives are turning to Forex Trading. They want to take care of their career, earn more money and maintain a carefree lifestyle; Forex Trading is seen as a good fit. According to Terraseeds Market Technician’s chief trainer Ms Binni Ong, “We observed a 50% increase in the number of professionals coming to our Tflow® Course over the last two years. They do not quit their full time jobs, but are able to earn secondary income through trading.”
She adds, “Professionals such as lawyers, engineers, accountants, chief financial officers choose the Terraseeds Tflow®. This highly sophisticated proprietary trading method predicts future prices and movement. It utilizes Applied Elliott Wave and Advance Fibonacci theories. These are popular techniques used by financial institutions like banks to generate profits. ”
The best feature of the Terraseeds Forex Tflow® System is it allows the trader to “earn money while he or she ‘sleeps’.” A trader typically starts with analysis of the market either during the start of the week or head of the day. Using the analysis, he or she is able to pre-determine entry level, maximum loss and target profit. Once orders are entered into the trading platform, he or she can then leave for work or go to sleep. It is a hands-off style of trading and does not require the individual to be glued to the screen.
When a trader applies this method, he knows the reward to risk proposition clearly. Such a methodology makes traders feel secure with the trade position. It is a boon to professionals who want to focus on their career. Tara Ng, a former chief financial controller says, “Terraseeds Forex Tflow® System is a blessing to people who are trading. I would describe it as a system that has low and controlled risks. Moreover, it is specially designed for people who don’t have much time to do ‘time-consuming research’.” She added that her success rate is about 60-70% More professionals take up Forex
Trading for secondary income since she first started 3 months ago and return is about 3 times of risk.
Ms Ong agrees with the assessment, “We have a doctor who works in a polyclinic making consistent profits of about 500 to 1000 pips in a month. He particularly likes the ‘earn while you sleep (EWUS)’ strategy because it allows him to place his trade before leaving for work.” She adds, “He tells us that this was really a stress-free way of making second income without having to sacrifice family, friends,
There are several reasons why forex trading is a top choice among professionals or executives:
- The Forex market trades 24 a day so trades could be done at anytime of the day
- A low capital outlay is required because of the use of leverage; trading can be done with deposits as little as USD250
- Traders can choose from an increasing number of established brokers operating in Singapore
- Position size for trades are scalable; it can be as little as USD 200 to a few hundred thousands so each individual can trade according to his means
- There is plenty of price movement everyday so there are many opportunities to make money
- Brokers’ trading platforms offer controlled risk trading with pre-established maximum loss
Ms Ong also observed that a well-regulated environment by the Monetary Authority of Singapore has very much contributed to the flourish of currency trading in Singapore. Education plays a part too. Schools like TerraSeeds runs regular free introductory sessions on Forex trading for professional and executives to get acquainted with the currency market as an alternative source of income.