Simulated Forex Trading Is Necessary For Success

Forex Simulator Trading, Forex Simulated Trading, Forex Futures Trading, Forex Online Option Trading, Account Forex Online Trading
How do you get good at anything? Let's put it this way, when was the last time you were successful at something the first time you tried it?

Just like learning skydiving, you don't want to get severely hurt trading forex before you learn how to do it correctly. So what is the forex equivalent of tandem skydiving? Simulated forex testing, of course.

By practice trading, you can develop a profitable system that you are comfortable without losing all your money. The first step to doing simulated forex trading is to backtest strategies that appeal to you. Because you are only testing with play money, try anything and everything! Look for systems on the internet, create your own or use no system at all.

When something works, find ways to improve it. If something doesn't work, get rid of it. It's that simple.

Once you have a system that has backtested well, it is now time to do more simulated forex trading. This time, you will still be testing with play money, but now you will be using a demo account to trade in live market conditions. Most forex brokers offer demo accounts for free and are perfect for trying out a broker platform and testing the practical aspects of your new found system.

If your system does not work, go back to your backtesting. Then demo test again and again. When you are comfortable with your new system, put some money in a live account and trade! This is why you need simulated forex trading.

Forex Simulator Trading, Forex Simulated Trading, Forex Futures Trading, Forex Online Option Trading, Account Forex Online Trading

Top 10 Free VPN Services Review

1. OpenVPN – Free VPN client

OpenVPN.net is a SSL/TLS based VPN, it provides high security and privacy. The biggest difference between PPTP VPN and OpenVPN is you need install OpenVPN client software to use OpenVPN service, and OpenVPN DO NOT work on mobile devices such as iPhone, iPad, Windows Mobile and Android. But OpenVPN works on Windows, Mac and Linux.

 

2. PacketiX.NET – Free VPN client

PacketiX.NET is a Japan VPN service. It is actually a premium service, but they have PacketiX.NET online test service as well which is free to use. The service is fast and reliable and it is easy to use as well. Just download the VPN connection manager, install and connect! It works on Windows and Linux only.

 

3. UltraVPN – an OpenVPN client

UltraVPN is a French VPN client that hides your connection from unwanted ears and allows you to use blocked applications. It is also based on OpenVPN service. Traffic is quota is unlimited. Bandwidth is up to 500Kb/s depending on network conditions.

 

4. Hotspot Shield – The most popular free VPN client

Hotspot Shield is possibly the most popular Free VPN client in the world. It made waves when Hulu was launched as it allowed users to watch Hulu even when it was blocked. Now, they have US & UK based VPN services which you can use to protect yourself from WiFi Snoopers, identity thefts and censorships. The best part is, Hotspot Shield provides unlimited bandwidth and works on both PC & Mac.

 

5. CyberGhost – Free VPN service

CyberGhost is a free VPN service from Germany which helps you route you through a German IP. The free service is limited to 10GB traffic every month, which is more than enough for surfing on websites, chatting and email. The paid service is also affordable. 

Update: The free service is limited to just 1GB per month now.

 

6. TorVPN

TorVPN is one of the latest entrants into the VPN market. TorVPN is great for bypassing strict content filters, browsing the web anonymously, securing your VOIP communications or remote access to your home/office workstation. With TorVPN you can get an OpenVPN server, SSH access, PPTP & TOR proxy. Free vpn access is restricted to 1GB per month and works on Windows, Mac, iPhone & iPad.

 

7. SecurityKiss

SecurityKiss is a tunnel service which ensures security and privacy once your data leaves your computer. It redirects all your traffic through an impenetrable tunnel to our security gateway. Everything in the tunnel is encrypted.

 

8. Your-Freedom

Your-Freedom makes accessible what is unaccessible to you, and it hides your network address from those who don’t need to know. The free service lets you use it for 6 hours a day (up to 15 hours a week). You can either download their software or use the OpenVPN mode. Windows, Mac & Linux platforms are supported.

 

9. USA IP

For free user, you don’t need to register, just download the USAIP.pbk file, and then double-click on the file and select one of the USAIP PPTP connections. After that, you can access the USA IP free VPN services with the username demo and the password demo. But you will need to reconnect the USA IP network after every 7 minutes.

 

10. MacroVPN

A new player in the VPN field. MacroVPN does provide a Free VPN service, but it is more like an extended trial. There is a limit of 2GB traffic and 256kbps speed.

Today, it seems somewhat queer to hear from someone’s mouth that he or she is wandering here and there in search of desired job. Despite the fact that hunt for job isn’t really a doodle for anyone; whether skilled or moderately accomplished person nonetheless the internet suggest you direct ways to find jobs online. But most net savvy do not know what is the apt process to find or apply for a job through internet. Sometimes, they have to counter trouble for not knowing the proper ways, which could lead them to ideal destination. The majority of online job seekers assume that there are only three means to apply for jobs online: resumes, advertisements and organization. But you should know about other sources also and these are:

•     Job relocation or sending resume
•     Replying for the ads related to your professional field
•     Responding for news paper ads
•     Seek out private employment organizations and firms
•     Visiting to employers places
•     To ask for an ex-teacher or professor for job-guidance
•     Get on with a civil service examination
•     To go to any company, factory or manufacturing unit of your predilection
•     Use of the phone books yellow pages to show the field of your interest

Would you believe that 10% of US population waste its time in search of jobs online and theirs search come to an end easily when they have to give up for finding no positive results. The main cause of the failure lies in improper course of action, in other words the lack of confirmation of your own criterion, interest domain and expertise. After being sure about these things you will not be banned by any bar to find excellent job. Apart from above cited facilities the web provides you many other ways to find jobs online, these are:

Common Effective Ways

Networking: networking system allows you to get connect with numerous persons simultaneously. It is very effective mean to get a link of the peoples and employers associated with your concerned professional field.

Advertisements: The advertisement of top companies and firms is another supportive option for job hunt but liability of the ads should be judged by the users before applying.

Referrals: referral process has been highly admired by vast amount of internet users. Under this referral one can simply hire another person as his candidate for the company or product and this makes ones automatically an employer of the production. This referral benefits are unlimited; the more referrals one makes the more benefit he or she gets.

Career Websites: The careers websites are specifically are those build with the purpose of career making in a particular sphere of interest or profession. With the launching of many jobs searching websites for job hunters, it has turned out to be hyperbolically easy. But the pathetic economic heartbreak seems claiming for more career sites.

Job Fairs: A job fair organized by specific companies and industries is another appealing way among other ways to find job online. You just search out the name of the attracted industry from the list, send impressive resume and be prepared to work with distinguished organization.

Essential Elements of a Successful Trader

Courage Under Stressful Conditions When the Outcome is Uncertain

All the foreign exchange trading knowledge in the world is not going to help, unless you have the nerve to buy and sell currencies and put your money at risk. As with the lottery “You gotta be in it to win it”. Trust me when I say that the simple task of hitting the buy or sell key is extremely difficult to do when your own real money is put at risk.

You will feel anxiety, even fear. Here lies the moment of truth. Do you have the courage to be afraid and act anyway? When a fireman runs into a burning building I assume he is afraid but he does it anyway and achieves the desired result. Unless you can overcome or accept your fear and do it anyway, you will not be a successful trader.

However, once you learn to control your fear, it gets easier and easier and in time there is no fear. The opposite reaction can become an issue – you’re overconfident and not focused enough on the risk you're taking.

Both the inability to initiate a trade, or close a losing trade can create serious psychological issues for a trader going forward. By calling attention to these potential stumbling blocks beforehand, you can properly prepare prior to your first real trade and develop good trading habits from day one.

Start by analyzing yourself. Are you the type of person that can control their emotions and flawlessly execute trades, oftentimes under extremely stressful conditions? Are you the type of person who’s overconfident and prone to take more risk than they should? Before your first real trade you need to look inside yourself and get the answers. We can correct any deficiencies before they result in paralysis (not pulling the trigger) or a huge loss (overconfidence). A huge loss can prematurely end your trading career, or prolong your success until you can raise additional capital.

The difficulty doesn’t end with “pulling the trigger”. In fact what comes next is equally or perhaps more difficult. Once you are in the trade the next hurdle is staying in the trade. When trading foreign exchange you exit the trade as soon as possible after entry when it is not working. Most people who have been successful in non-trading ventures find this concept difficult to implement.

For example, real estate tycoons make their fortune riding out the bad times and selling during the boom periods. The problem with trying to adapt a 'hold on until it comes back' strategy in foreign exchange is that most of the time the currencies are in long-term persistent, directional trends and your equity will be wiped out before the currency comes back.

The other side of the coin is staying in a trade that is working. The most common pitfall is closing out a winning position without a valid reason. Once again, fear is the culprit. Your subconscious demons will be scaring you non-stop with questions like “what if news comes out and you wind up with a loss”. The reality is if news comes out in a currency that is going up, the news has a higher probability of being positive than negative (more on why that is so in a later article).

So your fear is just a baseless annoyance. Don’t try and fight the fear. Accept it. Have a laugh about it and then move on to the task at hand, which is determining an exit strategy based on actual price movement. As Garth says in Waynesworld “Live in the now man”. Worrying about what could be is irrational. Studying your chart and determining an objective exit point is reality based and rational.

Another common pitfall is closing a winning position because you are bored with it; its not moving. In Football, after a star running back breaks free for a 50-yard gain, he comes out of the game temporarily for a breather. When he reenters the game he is a serious threat to gain more yards – this is indisputable. So when your position takes a breather after a winning move, the next likely event is further gains – so why close it?

If you can be courageous under fire and strategically patient, foreign exchange trading may be for you. If you’re a natural gunslinger and reckless you will need to tone your act down a notch or two and we can help you make the necessary adjustments. If putting your money at risk makes you a nervous wreck its because you lack the knowledge base to be confident in your decision making.

Patience to Gain Knowledge through Study and Focus

Many new traders believe all you need to profitably trade foreign currencies are charts, technical indicators and a small bankroll. Most of them blow up (lose all their money) within a few weeks or months; some are initially successful and it takes as long as a year before they blow up. A tiny minority with good money management skills, patience, and a market niche go on to be successful traders. Armed with charts, technical indicators, and a small bankroll, the chance of succeeding is probably 500 to 1.

To increase your chances of success to near certainty requires knowledge; acquiring knowledge takes hard work, study, dedication and focus. Compile your knowledge base without taking any shortcuts, thereby assuring a solid foundation to build upon.

Accept Losses in Forex Trading

Accept Losses in Forex Trading

The lack of a proper trading plan which includes precise rules for entering and

exiting a trade will most certainly guarantee failure over the long term. Beginners

usually suffer from the same common ailments. They abandon trading plans purely on

impulse because things are not going exactly as how they had envisioned. Repeatedly

they use unreliable methods that fail to produce a profit. Many traders hold on to

losing positions telling themselves “it is going to turn” when every indicator says

otherwise because they cannot bear the thought of a loss.

Why do they torture

themselves? Why don’t they just identify what’s going wrong and make a change? For

some people recognizing that a trade or even a trading method is not working and

making a change is easy, but for others it’s very difficult. They have to look at

their limitations admit that they have made a mistake and that’s hard because it

hurts our ego. Psychologically it’s risky, it’s often easier to fool ourselves.

Just keep going, living in a state of denial until your account is depleted. If you

recognize any of these traits in yourself you must stop trading immediately.

Take

a good look at what has been happening, try and identify the problem. If you look

close enough you may see a pattern. This is why it is vital to record every trade

and as much information about it as possible. You have to break out of old patterns

and see things in a new light.

You will never be a successful trader if you

continue to live in a state of denial. What can be done to return to reality? There

is a lot you can do. First of all make sure you are not trading under stress. When

stressed out you can’t see clearly, you become rigid and unable to see alternative

views. One of the easiest solutions is to trade smaller. The smaller the trade the

less the stress, especially for the beginner. If you are experienced and in a

loosing streak reduce your contracts until you get your confidence returns. Some

people need to take a break altogether. Get away from it all. Take your mind off

the trading.

The second thing you can do is to make sure you have a life. Trading

can be addictive especially when you are winning. Do not put all your emotional

eggs in the trading basket. You need to have other roles that give your life

meaning and purpose. By defining your identity in a variety of ways, you will not

place un-natural importance on trading events. Therefore, you will be able to take

losses in stride and look at your trading more objectively.

Finally, radical

acceptance is a key mental strategy for coping with market uncertainty. Many

traders make the mistake of thinking they can control the markets. Nobody can

control the markets. We must learn to accept anything that comes our way and to

trade accordingly. Adopt the attitude that trading is a journey and that all we can

do is go where the markets take us.

To succeed on this journey you cannot afford

to lose too much. Manage risk and just accept what you get and enjoy the ride. This

way you will trade more freely and creatively. Don’t live your life in denial.

Accept your limitations, work around them, and become a winning trader. Write out

your trading plan with precise entry and exit points. Most important set your stops

and mentally decide you will not break them. Test your system on paper and when

confident test in real time with the minimum contract size. You will have losing

trades, accept them with grace and go on to the next trade.

Benefits of Using a Forex Signals Provider

Benefits of Using a Forex Signals Provider

The Forex market can be intimidating and confusing if you are a beginner. Experts and gurus have spent years acquiring experience and knowledge by making expensive mistakes. If you are venturing into forex for the first time, it's almost a guarantee that you will lose money. You may lack the knowledge and skills to make profitable trades.

To overcome the challenges ahead, have two options. The first option is to learn everything on your own. However, as mentioned earlier, be prepared to lose money to pick up the lessons. Also, the learning curve is rather steep. The complex and sophisticated analysis methods can put the most intelligent people off. Not everyone wants to get involved in research and analysis. For sure, it's more fun to be trading and making money in real time.

The second option, is to use a forex signals provider. A forex signals provider is a service provider. To use the service, you will have to join as a member and pay subscription fees. But many service providers claim that the fees are very affordable. That may be true, assuming that you make lots of profits based on the signals that are provided by the service provider.

There are a few special benefits that deserve special mention.

1) Ability to move around while waiting for signal instructions.

You don't have to be hooked to your computer when using a signal service provider. Signal instructions can now be emailed or SMS to you. That means you can be receiving instructions even when you are on the move. You may then execute the trade based on the instructions you receive.

2) Shorten the learning curve.

This is a huge benefit. Instead of spending all your time learning how the forex market works, you can start trading immediately. You can skip right past the complex analysis stage and get involved in the action.

3) Minimize trading risk.

For all new traders, all trades are considered risky due to lack of knowledge and skills. If you don't wish to lose money upfront, then you have to depend on a forex signal provider for reliable instructions. All the decisions are made for you by the service provider - when to buy, when to sell, and what is the stop and loss entry.

4) No need to monitor trades manually.

Sometimes, forex traders get up in the middle of the night just to trade an order. With the instructions given, you don't have to do that anymore. Simply execute the order based on the instructions.

To start trading in the forex market, all you need is an Internet connection, a little money (to start trading), and a forex signals membership. The membership will provide you with signal instructions. You wait for the instructions to arrive, and you execute the order. Once you have done that, all you need to do is to wait for the trade to become profitable.

Before you start investing with real money, you can trade based on the instructions you receive on a hypothetical basis. Once you acquire enough confidence, you may then start trading with real money.

Forex Simulated Trading

Forex simulated trading helps investors practice their forex trading before risking any money. For that reason, taking part in an online forex trading simulation is essential for the long-term success of any trader. The lower the experience level of a trader, the longer that trader should be actively involved in online simulated forex trading.

Before using a simulated forex trading system, it is important that the system is a live simulation program that provides lifelike results. The forex trading simulation system should allow the trader to execute practice trades at prevailing market prices using real time, streaming data.

Our simulated forex trading program meets all these requirements and more. Before putting real money to day trade currencies, a trader can sign up for a 30-day demo that provides lifelike executions, streaming charts, technical analysis, news, market commentaries and other features. The program could also be used to simulate day trading. A snap shot of the forex trading system running in simulation mode is provided below.
The example above of the forex trading simulator shows three currency pairs that consist of four of the major foreign currencies: the US Dollar (USD), the Swiss Franc (CHF), the Euro (EUR), and the Japanese Yen (JPY). The real-time, streaming graph shown is a candlestick graph of the Dollar / Yen (USD/JPY) exchange rate in 10-minute periods. The graph is enhanced with a technical analysis study consisting of 10-period and 20-period Simple Moving Averages and a horizontal channel between 120.2906 Yen and 119.9100 Yen.

Whether you are an experienced stock day trader or a novice to the trading world, you could benefit from taking our online forex simulated trading program for a test drive. See how good you are at forex trading by using our online currency trading simulation. If you have any questions about simulated forex trading or any other of our services, don't hesitate to contact us about forex simulated trading.

Learn Forex Trading

Gone are the days, when people with small bundles of notes surely would draw your attention at the airports/ international bus terminus/ important office areas, who are ready to exchange your currency to your desired foreign exchange at a commission. The literacy, the spread, the entrants of various professionals, automated software, revolutionary online forex trading companies have been able to put a control over the entire unorganized sector to pave the way for complete professionalism and to offer a much more convenient and systematic way of Forex trading. At the inception phase, people, mainly the large corporations used to perform their Forex trading through various banks or major financial institutes, who used to operate at the international level. The overwhelming popularity of Forex of today's modern world due to the liberalization and global economic polices is empowered by the telecom boom, the immense reach of Internet and the unimaginable advantage of advanced technology. The instantaneous effect and up-to-date news provided by the Online Forex Software exchange trading platform in the regime of online Forex, have given you the classical opportunity of taking decisions and immediate implementation. Online Forex trading has been standardized over the years after the initial teething problems, and today's Forex participants get an almost secured access through various online Forex trading companies, which is free from all encumbrances. The technology, its application in case of online Forex has been drastically improved with the increasing awareness of people at large. The success lies in bringing a wider gamut of people into Forex trading platform and in turn the entire Forex Software exchange trading platform has become commercially viable. If we want to look into the current Foreign Exchange market, we can find a reasonable number of stakeholders beyond the predominated traditional Multi National Companies or MNCs, banks, brokers and the final impetus has given by the wide acceptance of a large number of commoners, who get engaged in Forex trading due to various reasons including even as a mere hobby. The latest encryption methodologies and plenty of guide and trend analysis will make you secured and comfortable even if you are a first timer dabbling into online Forex trading. The concept of margin trading, implying the traded on margin, saves you for a huge amount of deposit in the Forex. The margin deposit varies between banks and it is always in percentile terms of the original amount, which the bank allows you to play. A simple example will show you the actual potential. Suppose a bank has kept the margin deposit as 2%, which implies that you need to deposit only $20000 USD to trade two million dollars and also you may gear up your profit by 200%. As the coin has got two sides, the 2% margin deposit in Forex may also take you to the road of losses by 200%. The rule remains same, when the offline Forex trading changes it face to online Forex trading. As every investment carries the potential risk of both profit and loss, the luck of an aggressive online Forex trader may sway anywhere between 2 to 25% on a daily basis on an average. Just for the knowledge base, the beginner in Forex trading must be aware of that the interest rates on your deposit varies greatly depending upon the currencies and the prevailing practice is to play in multiple currencies, popularly known as Base currency and variable currency in the world of Forex both in traditional platform and in online Forex platform. Your awareness level, your analytic power, your intuition are the key driven forces to transform you to an informed Forex trader and to optimize your Return on Investment (ROI) in the most prospective financial market of today's economic world

How To Be Successful Forex Trader ?

Today there are many people in the world that are using Forex to make money. Forex trading is buying and selling currencies to make profit from it. It can be a great money making business if you can do it right. It is the type of business that you can make thousands of Dollars each month if it is done correctly.There are some major advantages to Forex Trading.
* The long hours that the forex market is open, it trades 24 hours a day for 6 days per week and is the most liquid market in the world. So even if you have a full time job you can still come home and trade. It is a great way to start out, paper trade build up confidence start achieving financial success then you can leave your current job.
* It doesn't matter what the market is doing as you can just as easy go long (buy currency) or go short (sell currency) so there is never a bad time unlike buying stocks. The liquidity means that you have no problem selling.
* You don't need thousands to start. The reason that you don't need massive bank balance is because you can use leverage, in some cases you can get 400:1 so if you have $1000 you can leverage that into $400,000, which can make for great profits. Also you don't pay brokerage or commissions. If you are looking for a great Forex Broker feel free to visit us and we can show you the best forex brokers in the markets.
* The market will never go broke. Unlike share trading where companies can collapse it is very unlikely to happen in Forex. Imagine if the USD was worth $0, so you can see very unlikely.
* If you are new to the foreign exchange market, you do not have to worry about spending thousands of dollars to learn or buy a course. There is online forex trading course that will explain how the forex market works and a forex tutorial will also explain about fundamental and technical strategies that are available to you as a forex trader.
* Work your own hours if you don't feel like trading then you don't have to, it will always be open tomorrow.
* To learn Forex Trading is very simple today all you need is a computer and forex broker
* To ensure that you can become successful in Forex Trading make sure that you get some education, as knowledge is power. You can start out learning online or through books it doesn't have to be through expensive course.
* Have Fun and enjoy it.

Forex Trading - The 3 Biggest Lies

Everyone that is involved in Forex Trading for awhile would have all heard these 3 misconceptions about Forex Trading, but beginner traders continue to fall for them. These are also some of the reasons why many Forex Traders end up going broke.

So how can we avoid these common traps and make money from Forex Trading?

Firstly lets look at the 3 areas to avoid when you are starting out Forex Trading.

Making Regular income and Profit:

This is misconception number 1.

Think about this for a moment how can you make regular income from something that changes as frequently as the Forex Market. No matter how great the system is the market simple changes all of the time, how often have you been in a well trending trade only to see something strange occur and a nice profit turns to a break even or worse a loss? So the next time you see or hear of someone saying make x% profit every month's run!

Ability to Predict Forex Prices in Advance

This is misconception number 2.

This is the biggest crowd puller, think about it can you see into the future? No. No matter how great the theory, how well it has been back tested you still cannot have a theory that works 100% of the time. Think about it if there was a theory that worked 100% of time we could predict future results. So the theory would need to take into account, all interest rates cuts and rises, speeches from the banks and monetary authorities as you can see highly unlikely. No Impossible.


Make Massive Profits minimal Exposure:

This is misconception number 3.

Many of us would have seen systems advertising the make 100% gains and have less than 1% drawdown. This is not reality and you can see the real results to support this outrageous growth rate to drawdown that has been audited.

So consider this and Improve your chances!

The common fact to trading is that over 95% of all traders will lose their money and the ones that do believe at least one of the above

So how you can become successful as a forex trader is understand that you can make profits in the long term, that making money is going to be up and down and that Forex trading is a game of odds not certainties. They also understand that to make money you need to take risks, the old saying of risk versus reward.



If you want to get involved in Forex trading and win you can, by getting a good solid Forex education and good Forex mentoring. In some cases you can find a Best Forex Brokerthat can assist you. If you are looking for a great Forex Broker, look at the CFD FX Report they have recently researched all the Forex Brokers and have come back with who they believe to be the best.

You can win and enjoy huge rewards for your effort, if you understand the challenge of Forex trading and what the reality really is. If you understand this, you're on your way to long term currency trading success.
Also make sure that you have a good trading plan and stick to that trading plan.

Forex Trading Systems Scam

Have you ever encountered an online promotion for a forex system, strategy or software? If so, I bet that the promoter promises great wealth in no time, something like " this incredible system makes $3, 000 a day " or " I am making money in my sleep using this automated trading software " and so on. Very tempting for some of us. And as this " Forex Systems " hype is relatively new, even veteran traders ask themselves whether these systems are for real.
The exactness is that some of these forex merchandise are indeed total scams. But absolute is again not logical to foresee that ALL of them worth nobody. Luckily, we live in the hot poop ticks, locality a scam cannot hold office close for spun out. So if you encounter a forex system, strategy or software for sale, conclude not carry lazy and search the net for relevant blogs, forex forums and reviews. If the product is a scam, you will familiar conceive physical quite delicate. However, lease ' s spiel that you treasure a decent, reliable Forex System - what rap you assume from sound? Will positive well deliver? Fine, flying start by commercial the following questions:
Am I disciplined?
Most traders purchase a first-rate trading system or software but operate not have the discipline to trade according to the system ' s rules. Some traders achieve not credence the system they have tried bought and endeavor to chicken feed the rules from day one. Others certainty the system prime, but next a few bad trades source losing confidence and contract apprehensiveness and attraction genie their decisions. I itch admit - substantial was very insolvable for me to faith a system that was created by someone too many. Solitary when I tacit the logic late the system I began to fashion confidence, traded stow away discipline and somewhere made profits.
Are my expectations fitting my ration?
The size of your trading invoice will halt your lifelike profit expectations. If you have a mini account ( a keep of between 500 to 10, 000 US dollars ), irrefutable means that for trading the EUR / USD, a 1 pip movement in your favor equals 1 US dollar in profit. So if you are a very rad trader stifle a very superb trading system, a stupendous trading point veil a total of 500 pips hike, equals US$ 500 in profit. I guess you cannot quit your job yet. But if you have a one million dollar account, you can definitely earn US$ 1, 000 per pip. So it takes only 3 pips to make US$3, 000 a day. I hope you get the point.
Do I have enough knowledge?
Even the best system is operated by a real person. And each trader is a unique individual. Consequently, if you ask a group of traders to trade the same system, under the same conditions, you will probably get totally different results. Yes, some traders do make money in their sleep using profitable forex systems, but the human factor will always be there. So get yourself a good trading system, but do not stop there. Be ready to acquire a sound knowledge in forex trading and keep expending your knowledge over time.