Friday, May 11, 2007

FX Club Foreign Exchange Money Trading

OK...today I signed up to trade money with FX Club brokerage firm. I am starting out with a whopping 100$. Here is my plan....

100$ means you actually control a margin of 1000$

So, I plan on making 3-5 trades per day of that amount.

I will not sell any amount if I am losing money. I will only sell if I am making a profit of at least 5$.

I know this does not seem like a large amount of money, however, I am not a rich person (Few writers, aside from Stephen King, are--and Lord knows I'm no Stephen King!).

With each profit I make I will increase my investments.

If you are not familiar with foreign exchange money trading it is fairly simple. Money has a different value based on the economic viability of a nation. So you trade USD for other money, and then trade that money for other money. You gain money based on the spread---the difference between the buy and sell prices. It is KINDA like stock trading only not quite.

But what the heck, FX Club is giving me 100$ to play with, so if I lose I'm not losing my money---I'm losing theirs. Can you beat that kind of deal? I think not. The coolest thing is if I earn money, I get to keep what I earn.

My dream would be to earn enough money to buy a home. I am tired of renting! Of course, it would take a few years to do that, but who knows? Stranger things have happened! If I could make an extra 100$ to 200$ a month, then I will put that money away for my kids. They are all going to be wanting cars very soon.

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