Chapter 1:

The World of Global Trading

Successful trading is an art form. Successful traders focus on the art of trading. They invest wisely,
because they understand the laws of trading. They know when to invest, where to invest and how
to protect their investments.
One of the most common mistakes made in trading is jumping right in to the market, without
understanding where its going, and without knowing the signs that the market provides. Its kind
of like jumping into the water without knowing how to swim: the odds are against you.
Trading these days is done mainly in the short term, in what is known as day trading or aggressive
trading, meaning that trades are bought and sold within a short time frame.
Day trading is done with highly liquid assets, meaning that the value of the traded asset can change
a great deal in a short time. This enables large, quick profts, and is therefore more attractive to
most traders.
Long term trading is called passive trading, and involves trading in time frames of months or years,
in the hopes that the value of the invested asset will increase over time.
Global trading is done by buying and selling various products. All of these products can be defned
under the umbrella terms of assets, or fnancial instruments.
Lets list the most popular fnancial instruments.
Currency pairs are currently the most traded assets in the world. They refer to the ratio between
the currencies of two diferent countries.
The frst currency in the pair - the one on the left - is the base currency, while the one on the right
is called the counter currency.
In trades involving currency pairs, the trader buys or sells the base currency at the current market
price, and then takes a proft or a loss according to the movement of the base currency relative to
the counter currency.
In todays market, not only currency pairs but also commodities and raw materials are traded,
including metals such as gold, silver and iron, and agricultural products such as corn, cofee, rice
and wheat.
A futures contract is an agreement which states that a certain product will be bought or sold at
some time in the future, at a predetermined price. Oil has a potential for future profts, since as
countries develop, the demand for oil grows higher and higher. The price of oil is mainly infuenced
by varying levels of supply and demand.
Crude oil is the main source of energy in the world today, and has become more and more popular
over the past 50 years among traders of various kinds.
Stock indices provide information about the performance of certain groups of stocks.
A stock index has a value that changes according to the total performance of the group of stocks
represented by it.
The index can be, for example, the weighted value of all stocks in the group.
Indices can be invested in the same way as single stocks, with returns that are proportional to the
change in the index.
Supply and demand form the foundation of economics - To understand this principle, we need to
understand that as demand for an asset increases, or as its supply decreases, the assets price will
rise, and vice versa.
The following is an example that illustrates this principle:
Lets say a farmer has 5 regular customers. Each day, his chickens lay 10 eggs. One day the chickens
only laid 5 eggs, although the same number of clients wants to buy eggs, there arent enough eggs for
everyone making his clients more willing to pay more for each egg, resulting in an increase in the price
per egg,
In other words, the supply decreased (less eggs),
but demand did not decrease, resulting in an
increase in the value of the eggs.
This can also go the other way around:
Lets say that one day, the chickens decided to
lay 15 eggs. So now, the supply has increased,
but the demand remains the same. In order to be
able to sell all the eggs, the seller must lower the
price of the eggs.
In other words, the supply increased, causing
a decrease in the value of the eggs.
Demand is also subject to change - for example, if one day
the chickens lay their usual 10 eggs, but fewer customers come to buy
them. The seller may fnd himself left at the end of the day with unsold eggs, requiring him to lower
their price.
In other words, the supply remains the same, but the demand decreases, so the value of the eggs also
decreases.
The following is an example from the global trading market:
If a poor economic statistic is announced in Britain, many traders will want to sell the British Pound.
In other words, the supply of Pounds will increase, resulting in a decrease in the currencys value: a
decrease in the value of the British Pound.
Another example: if a crisis in an oil-rich Arab country is announced, the price of oil will increase, due to
fears that the supply of oil will decrease as a result of the sensitive developments in the region.
What is a Binary option?
A binary option, meaning an option of either 0 or 1, is a quick and simple method of trading in
which the trader has only two available options. The trader invests a certain amount of money and
decides whether he believes the assets price will rise or fall during a predetermined time frame.
If the trader is correct, he immediately receives the amount he invested, with the addition of his
earned proft. If he turns out to be wrong, the invested amount will be lost.
When trading on a simple, easy to use binary option trading platform, the maximum proft and
loss amounts for each trade are displayed, along with a time frame for their expiration.
Binary options are one of the easiest ways to trade. They enable the trader to earn high returns
in short time frames, and therefore have become very popular among traders from all over the
world.
Traders who make guesses without any advance knowledge can really only be called gamblers.
Only when a trader has acquired knowledge of the market, can he actually be considered as
making an educated, well-founded decision that carries a high chance of success.
This is exactly the purpose of this course - to provide you with the knowledge, rules and tools
needed to succeed in this type of trading.
Trading in binary options is rapidly becoming one of the most popular ways to invest, no matter
what your fnancial goals may be.
Whether you are interested in short-term investing, or aim to expand your investment portfolio,
trading in binary options will suit you well.
The following are several concepts and components related to binary options:
In the Money - A fnancial term denoting that the option is proftable.
Out of the Money - A fnancial term denoting that the option is not proftable.
At the money - A fnancial term meaning the option expires at exactly the same level as it was
at the time of the initial purchase, in this case the full investment amount will be repaid to the
investor.
Execution price - The assets price at the time the trade was executed.
Expiration price - The base assets price at the options time of expiration. This price determines
whether the option is in the money, out of the money or on the money.
Binary options exist for several types of fnancial assets, including forex, commodities,
stocks and indices, and ofer several advantages:
Simplicity will the price close above or below?
Binary options are easy to understand, and are traded with full transparency.
The trader only needs to consider the assets market price. Limited risk and predetermined
returns.
A binary options returns are predetermined, and therefore the potential risk, as well as the
potential proft are known in advance.
Binary options are adaptable to most of the widespread trading strategies and methods.
Binary options are issued 24/5. Traders have the option to trade at any time, since binaries exist
for a wide variety of global assets, from stock exchanges throughout the entire world.
Advantages of the trading platform
All of our clients receive, free of charge, a variety of tools to help them to trade efectively and
proftably.
The platform is innovative, and ofers clients an easy, intuitive way to trade in leading fnancial
markets including forex, commodities and indices.
The trading platform is 100% online, which allows traders to trade immediately, from anywhere in
the world, with no need to download or install any additional software.
We combine an unparalleled variety of binary options and, using our breakthrough technology,
ofer speed and precision for a wide variety of trading arrangements.
In the past, trading required a deep understanding of the fnancial markets and their complex
lexicons. Our intuitive platform enables our clients to trade and proft immediately due to its
simple trading process and user-friendly design.
Our platform is optimized for online trading in binary options.
Binary options are the quickest, most efective way to convert your fnancial knowledge into
signifcation profts.
"Learning to accept a loss in trading
is the hardest thing that traders need to learn."
Chapter 2:
Trading Psychology & Capital
Management
Trading Psychology
Psychology is a critical component of trading. Calm traders are better traders.
The more emotional you are, the higher the chances that you will make mistakes while trading.
The actions of trading are simple to perform, but are very difcult psychologically. The difculty
lies in accepting rules that dont always seem logical, and in sticking to the rules strictly and
consistently.
Optimal trading is when your actions are completely disconnected from emotions, using rationality
only; however this situation is practically impossible.
So, want to know how remain calm while trading?
Join us for a lesson where we will learn about how psychology afects your trading, how to identify
emotional states, and how to trade in the right state of mind.
inhales ... exhales
Before I provide tips on
keeping the rules, I will
explain the difculty
involved by providing a
quick explanation of the
way the brain works.
The brain is divided into
two hemispheres: the
right hemisphere, and the
left hemisphere. The left
hemisphere is the analytical
part of the brain. This part is
responsible for all things objective,
scientifc, logical, rational and intellectual.
The right hemisphere of the brain is the part that is imaginative, artistic, intuitive, sensitive and
emotional. It also lacks any sense of time.
Therefore, each time we act logically, we are using the brains left hemisphere.
The worst time to solve problems is when youre using the right hemisphere - when you are
experiencing an emotional storm.
Important technique that will help you to use the rational part of your brain and disconnect from
your emotions.
Your trading platform includes a display area that shows the current proft and loss status for your
open positions. You must remove this information from your view at all times - simply ignore this
display area, or remove it.
The changing proft and loss display is the traders emotional barometer. The only thing that
should interest you is the bottom line - the proft or loss at the moment of closing the trade. Dont
deviate from your strategy because of the displayed changes.
Its important to know how to identify an emotional trader. When trading emotionally, you will be
nervous and tense, youll sweat, and will be very hesitant.
If you notice these symptoms occurring, stop everything. You cannot be an efective trader in this
state.
Get away from the computer, have a glass of cold water, make a strong cup of cofee, and try by
all means necessary to disconnect from whats going on in your computer at the moment. Music,
meditation or a dance are also possibilities - whatever will help you disconnect and calm down.
It might sound irrational to just go and leave everything in the middle of a losing trade, but you
cant infuence the market trend, and you cant take a calculated, logical action in this state, so best
to relax, since only then will you be able to come back and trade efectively.
One of the most important rules in trading is to trade calmly and rationally. Dont let your emotions
take over and divert you from your chosen strategy. If you need to change plans, its very important
to change them from a place of understanding and calm regarding your substitute plan, rather
than from a place of fear and confusion. The indecision of fear is the best way to ensure repeated
losses.
Traders tend to stay in losing trades because, as long as they havent exited the trade, the loss is
still only on paper, and has not yet become real. The moment you leave the trade, the loss is
realized, and the money is gone.
Traders who know how to take real losses will be wise enough to exit failed trades early, and to
plan and move on to other trades which have higher chances of success.
We all want to be successful traders
But success in trading depends a great deal on your mental attitude towards trading. Luckily, an
attitude is not an inborn trait that stays with you for a lifetime - its
something that can be changed.
To succeed, you must avoid the traits that characterize
unsuccessful traders. These include:
* Spontaneity
* Lack of confdence
* Pessimism
* Jumping from one technique to another
* Impatience
* Constantly being connected to the computer
* Lack of capital management knowledge
* Fear of recognizing losses
Trading with these traits will result in near-certain losses.
Your chances of success will increase considerably if youre able to adopt the
following traits:
* Discipline
* Motivation
* Optimism
* Remaining logical and rational
* Patience
* Enjoying the trading itself
* Knowledge of proper risk management
* Independence
* Calm acceptance of losses
These traits can turn trading into a fun game, where the chances of winning are higher.
To become a successful trader, you must:
* Learn and understand the rules and principles of trading.
* Learn how to manage your capital strictly and wisely.
* Plan a trading strategy that is appropriate for the market condition, based on knowledge
and technical analysis, which we will cover later in the course.
* Try to reach a stage where the trading system is working for you.
* Identify your weak traits, and work to overcome them.
Important rules that will help you psychologically:
Its absolutely necessary to learn how to trade properly. If youve reached this lesson, youre already
on the right track. The information youre learning will calm you down, and will give you tools to
handle the situations you will invariably encounter.
Its important to identify where your trading actions are coming from - the left or right hemisphere.
If you are being emotional - stop everything, calm down, and only go back to trading once your
hands have stopped sweating.
Dont stay glued to the computer - you probably have a lot of other things to do anyway, so take
some time to take care of those as well. The market is constantly moving, whether youre looking
at it or not. Execute your trades according to the strategy youve created, and then go about your
business.
Capital Management
Each investment type includes the elements of chance and risk. Chance is the proft on
your investment, and risk is the loss of some or all of your investment. There are 2 types of
investments:
Passive investment: in investments of this type, the chance is greater than the risk, but the returns
will usually be low relative to the investment.
Aggressive investment: in investments of this type, the chance is lower than the risk, but the
returns will usually be high relative to the investment.
Another important way to reduce risk is to distribute your investment over a broad range of
trades. Proper, rational management of your fnances, including distribution of your investments,
will make the diference between a successful investment, which can be managed over time, and
a failed investment, which will clear out your investment portfolio in no time.
Proper capital management will preserve your capital over time, enable you to trade more calmly,
and greatly minimize the damages you incur during losses, which are an inseparable part of
trading.
As Ive already said, losses are an inseparable part of trading. However, losses can certainly be
minimized.
Proper capital management focuses on keeping your losses low and your proft potential high.
Statistics have shown that the maximum loss that an experience trader can allow himself to lose in
a single trade, without harming his proft potential, is 5% of total capital. An investor who risks, say,
25% of his investment portfolio on a single trade, is practically ensuring that he will lose his entire
investment portfolio after a short series of losing trades. Series of losing trades is something that
happens from time to time to even the most experienced traders.
This mistake results from attempting to earn a large amount over a short period of time. Greed is
the traders worst enemy.
Proper exposure management can be implemented based on one of two rules:
Stable investment with low risks - using the strict 5/15 rule for risk management:
5/15 refers to the investment percentage in a single trade, relative to the investments percentage
out of the entire portfolio.
For example, if an investor has a $10,000 account, he can allow himself to risk up to 5%, meaning $500,
on any single trade, and up to $1,500 of the entire portfolio. In other words, if the investor risks $500 on
a single trade, he can concurrently open a maximum of 2 other trades, at an additional risk of 10%.
The total risk of all open positions must not exceed 15%.
Aggressive trading with high risk - this involves the more permissive 10/30 rule for risk
management:
The more permissive rule allows the trader to risk up to 10% on each trade, with a maximum of
30% of the entire portfolio. This rule is intended for traders who prefer aggressive trades, or for
traders with small accounts, in order to provide them a certain degree of maneuvering room.
For example, if an investor has a $10,000 account, he can risk a maximum of $1,000 on any single
trade, and up to $3,000 of the entire portfolio. In other words, if the investor risks $1,000 on a single
trade, he can open a maximum of 2 other trades concurrently for an additional risk of 20%, with the
total risk of all trades being no more than 30%.
In general, the permissive rule is considered to be the highest level recommended for risk
management. Its best to try gradually reducing total exposure down to the stricter level of the
5/15 rule.
The exposure management process leads directly to the next stage of the allocation management.
In efect, the rules of exposure management dictate to the investor the size of the trades he can
open.
For example, a passive investor with an account of $10,000, who manages his portfolio according to
the 5/15 rule, can risk up to 5%, meaning he will not lose more than $500 per trade. If for example he
places a stop loss order 100 pips from the entry point, the investor can open a trade of up to $50,000.
Similarly, an aggressive investor who uses the permissive 10/30 rule will be able to risk up to 10%,
meaning $1,000 per trade, and therefore will be able to open a trade of up to $100,000.
Exercise
Question 1:
What trait can be attributed to a good trader?
A. Spontaneity
B. Lack of self-confdence
C. Pessimism
D. Discipline
Question 2:
What trait can be attributed to a poor trader?
A. Patience
B. Optimism
C. Independent
D. Fear of recognizing losses
Question 3:
To become a successful trader, you must:
A. Learn and understand the rules and principles of trading.
B. Learn how to manage your capital strictly and wisely.
C. Plan a trading strategy
D. All of the above.
Question 4:
How can you calm down while trading?
A. Listen to music
B. Meditate
C. Dance
D. All of the answers are correct
Question 5:
What is the maximum loss that an experienced trader can allow himself to lose in a single
transaction?
A. 5%
B. 25%
C. 40%
D. 50%
Question 6:
For a passive investor with a $10,000 portfolio, how much can he risk in a single
transaction?
A. 5% which is $500
B. 10% which is $1,000
C. 25% which is $2,500
D. 40% which is $4,000
Question 7:
If an aggressive investor has a $10,000 investment portfolio, how much can he risk in a
single transaction?
A. 5% which is $500
B. 10% which is $1,000
C. 25% which is $2,500
D. 40% which is $4,000
Question 8:
Proper capital management focuses on:
A. Keeping losses low
B. Proft potential high
C. A and B are correct
D. None of the above
Answers:
D,D,D,D,A,A,B,C
"An economist is an expert who will know tomorrow
why the things he predicted yesterday didn't happen."
Charles M. Schulz
Chapter 3:
Market Analysis
There are two basic types of market analysis:
Fundamental analysis - This type of analysis tries to predict future market movements according
to a countrys economic news.
Technical analysis - This method analyzes current market movements in comparison to past
market movements. In other words, it tries to predict future trends using past movements, with
the help of indicators provided by your trading platform.
Fundamental analysis evaluates the economic position of countries, and the ways in which
economic news afect the value of their currencies and equities, or the value of the goods exported
by those countries. The economic news published by a countrys economists has a great deal of
infuence over market movements.
Since the USA is the largest economy in the World, it is very important to follow it.
Fundamental analysis is based on macro-economic data that is provided for that country or
currency, where each country or economic block ie: Euro Zone, releases a number of particularly
signifcant and important statistics every month.
These announcements often have an efect on the currencys strength. Below are a number of
particularly important types of news announcements, which have a particularly strong infuence,
and usually cause very strong fuctuations in currency markets:
* Gross domestic product
* Retail sales
* Employment/unemployment rate
* Interest rate decisions
* Minutes from the most recent interest
rate meeting
* Speeches made by influential figures
in the market
* IFO business climate survey
* PMI- Purchase Managers Index
* CPI- Consumer Price Index
* ZEW- Sentiment Index (Relevant only in Europe)
Market announcements are indicators of an economy's performance. Experienced traders
know how to incorporate these announcements into their strategy. Its important to note
that, before an announcement is made public, forecasts for that announcement are made by
experts. In many cases the value of the underlying asset refects the forecast, but when the
actual announcement difers from the forecast, the market can become much more volatile and
interesting.
The following is an example which illustrates the efect such an announcement can have on the
market:
On April 27, 2011, an announcement was made regarding a decision taken for the interest rate in the
USA. The forecasts predicted a reduction of 0.25 percent, but in reality the interest rate remained the
same. This resulted in support for the USD, as can be seen with the assets rise in value on the chart.
Technical analysis is the study and investigation of the markets behavior using charts.
Trading systems enable traders to analyze the market using various types of charts. Chart analysis
requires the development of visual skills. To develop these skills, lets frst learn about the three
most common types of graphs:
A line chart is the most simple and basic of the three types of charts. It is created by connecting
various price units over a given time period. Each point only represents the closing price.
The line connecting all the points creates a chart that helps to identify trading trends, as well as
support and resistance levels.
Technical analysis usually requires more specifc information than that provided by a line chart, so
this chart is less appropriate for in-depth analysis.
A bar chart includes lines that present diferent price levels over a given time frame, distributed
on a graphical diagram. These lines denote the following information:
High price - this is the high point of the bar, representing the maximum bullish power for that bar.
Opening price - displayed to the left of the bars body, representing the price when the bar
opened. A bars opening price is usually identical to the closing price of the preceding bar.
Closing price - reveals the results of the fght between the bulls and the bears over the course of
that bar. The closer the closing price is to the high price, the stronger the bulls victory over the
bears over the course of that bar.
Low price - the low point of the bar, representing the strongest point the bears reached over the
course of that bar.
The distance between a bars high and low points signifes the intensity of the battle between
the bulls and the bears. A short bar indicates a calm, quiet market, whereas a long bar signifes a
volatile, stormy market.
The Japanese candlesticks chart is similar to the bar chart in that it also represents the closing,
opening, high and low points for that bar, but using a diferent display, which helps identify various
trading patterns.
The diference between the charts is that, in the Japanese candlesticks chart, the closing and
opening prices are enclosed in a rectangle.
The use of diferent colors illustrates the increase or decrease in price over the course of the bar.
This is the most common type of chart.
Lets illustrate the use of Japanese candlesticks on a one-hour time frame.
This candlestick opened at 12:00 and closed at 13:00. If the market falls, the candlestick body
begins to form in a downwards motion. If the market changes direction and begins to rise, what
was previously the candlesticks body becomes a thin wick, also known as a shadow. If the rise
continues beyond the opening price, the candlesticks body begins to get created in the opposite
direction. If the price reaches a peak and then begins falling again, a shadow is created in the
upper part of the candlestick.
The fnished candlestick refects the opening price, high price, low price and closing price for that
one hour time frame.
If the candlestick closes at a lower price than the opening price, its considered a bearish candlestick,
while if its closed at a higher price than the opening price, its called a bullish candlestick.
The combination of many candlesticks creates a complete chart.
Over the years, economists have tried to characterize and fnd patterns in market movements,
in order to try and predict the markets future movements. Believe it or not, there are some who
managed to develop theories that have been used for over 100 years.
One of those economists was Charles Dow, who created the Dow Jones Index in 1882, and is
considered the father of
technical analysis. The
books that he authored
in the 19th century are
considered to this day
to be the foundations of
technical analysis.
Six rules form the
foundation of Dow's
theory, and are no less
relevant today than they
were in his day.
The following are Dows
six rules, with explanations
immediately to follow:
* The price movement refects the
assets economic data.
* The market movement is comprised
of three main series of trends:
* The major trend is characterized by three transition phases.
* The leading indices must be coordinated (by uptrend or downtrend) in order to confrm a trend.
* The trading volume must confrm the direction of the trend.
* Until proven otherwise, it should be assumed that the trend will continue its original direction.
The market movement is made up of three main series of trends:
Major trend - all the trends that appear in the weekly, monthly and yearly time frames. The major
trend is a trend that has been going on for several months, and may continue for fve years or
more.

Secondary trend - all the trends that appear in the daily time frames. A secondary trend will
usually continue for about two weeks, and may continue for up to half a year.
Minor trends - all trends appearing in the intraday time frames (from one minute to several
seconds). Minor trends continue for at least a day, and may last from up to a month.
Trends are characterized by three transitional phases:
The accumulation phase - the frst phase of a trend, where only the most experienced and
professional traders enter the market. For example, if the market was in a downtrend, this is the
point where the experienced traders notice that the market data is falling, and therefore begin to
sell.
The public participation phase - represents the second and longest phase, where the experienced
traders enter, followed by the less experienced traders. This is also the phase where the trend
gains the most strength.
The distribution phase - the stage where the professionals who began buying in the frst phase
realize that the trend is about to reverse, and realize their gains. They are followed by the other
traders, who close their trades, thus reversing the trend.
Several special terms have been created to describe concepts in the global trading market.
The following are the most important terms to know:
Pip
This refers to the smallest possible movement in the market. In most cases, it refers to a change in
the value of the fourth digit following the period.
Bulls and bears
Another important concept is bulls and bears, or bullish and bearish.
The terms "bear" and "bull" are thought to derive from the way in which each animal attacks its
opponents. The term bulls comes from the fact that bulls ram and fing their victims upward,
meaning that the bull indicates an upwards movement in the price. Therefore, a bullish trend is a
rising trend - the prices move upwards. A bullish trend indicates a rising trend.
A bullish candlestick is a candlestick that indicates a rise in price.
The term bears comes from the swipe motion made by bears, which goes from top to bottom,
meaning that the bear indicates a downwards movement in the price. Therefore, a bearish
trend indicates a downtrend. A bearish trend indicates a falling trend. A bearish candlestick is a
candlestick that indicates a lowering in price.
The market moves in wave-like motions, rising and falling. When the market moves upwards for a
certain period, its called an uptrend. Similarly, when the market moves downwards for a certain
period, its called a downtrend.
One of the most important tools in trading is the ability to identify the current trend in the market.
Well go into trends in more detail later in the course.
Peaks and troughs
A peak is a candlestick that is surrounded on both sides by two candlesticks that are lower than
its highest price.
A trough is a candlestick that is surrounded on both sides by two candlesticks that are higher than
its lowest price.
Support and resistance
The support level is the lowest price level that the market has reached. When a trough is repeated
several times, a straight line can be drawn between the troughs. This line represents the support
line.
The resistance line is the opposite: a line that passes between the peaks reached by the market.
Ranging / converging market
Ranging occurs when the market price stays at around the same level, with very little change. In
this situation, the support and resistance levels are very close to one another.
Breakout
A breakout occurs when a ranging market suddenly erupts into a dramatic rise or fall, which breaks
through the previous support or resistance level, as can be seen in the diagram
Entering into a trade at the breakout point will usually result in high returns.
A B C D
The market is forever moving in waves. What goes up must come down, and what goes down will
eventually rise back up. Rises or falls are never absolute: theres always a correction, meaning that
at the height of the trend, the trend corrects itself and tries to return to its previous value, and then
the price continues in the direction of the trend.
We mark the reversal points on the waves with the letters A B C D. These markings will serve as the
basis for the various market analyses that will be performed. It is therefore very important to learn
how to recognize them.
Exercise
Question 1:
What represents the high price in a bar graph?
A. The maximum bullish power for that bar
B. The strongest point the bears reached
C. Opening price on the graph
D. Closing point on the graph
Question 2:
In a Japanese candlestick graph, a candlestick has been created when the market goes
down and then goes up. That candlestick closes with the closing price higher than the
opening price; what will the candlestick look like?
A. Bearish candlestick with a shadow at the top of the candlestick
B. Bearish candlestick with a shadow at the bottom of the candlestick
C. Bullish candlestick with a shadow at the top of the candlestick
D. Bullish candlestick with a shadow at the bottom of the candlestick
Question 3:
What guides the technical analyst?
A. Gross domestic product
B. Speeches made by infuential fgures in the market
C. Interest rate decisions
D. None of the answers are correct
Question 4:
How long does a secondary trend last?
A. One to two days
B. One to two weeks
C. One to two months
D. One to two years
Answers:
A,D,D,B