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MAKE MONEY
EDITION 1: FOREX
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INTRO ON METHODICS
20%
20%
effort
80%
results
25$
Easy rules
Unlike stock markets with tens of thousands of different
shares, Forex works with 8 basic currencies which are the
centre of most trades. Moreover, there are significantly less
factors that influence currency exchange rates than in the
stock market.
Forex Glossary
FOREX
foreign
exchange
EUR /USD
GBP/USD
USD/JPY
USD/CHF
EUR /JPY
USD/CAD
EUR /USD
28 %
EUR /USD
Base
Currency
Quote
Currency
TOP PAIR
1/3 ofdealsall
EUR/USD
Buying price (Bid)
1.3000
1.3001
point
The smaller the spread,
the more liquid the currency!
Point (Pip)
The fourth unit after the
decimal point, which is the
smallest unit of an exchange rate.
Spread
The difference between the sell
quote and the buy quote (in pips).
State economics
Finance circulation
Interest rates
Mandatory reserve funds
Example
Politics
Stability of governments
Public statements
Change of officials
Prime Minister
of Greece announces
referendum
EUR /USD
Berlusconi
resigns
ECB announces
a new president
Nov 1
2011
Central banks
agree to stimulate
liquidity of financial transaction
Dec 1
2011
The EU cannot
agree upon
changes in the
treaty
Leverage
Example
Leverage: 1:100
Invest $1000.
Trade with $100 000!
Transaction example 1
Following news
Sept.
Sept.16,
16,2011.
2011.
EUR /USD
1.4000
1.3500
3
1.nov
2011
1.dec
2011
Choosing the
transaction
1.3000
Making the
transaction
A month later, the open position is being closed with and
exchange rate of 1.3108.
The rate difference is 692
points in my favour (1.38001.3108).
Profit $6920
692 points
(leverage)
Term
*Lot
1(lot)
10
Transaction example 2
Choosing a platform
Even if youre new to Forex, there are
beginner friendly platforms like ETORO
or Ava FX that offer you an interesting
opportunity to follow the best traders
and copy their transactions.
TOP traders
Rudolph Boyle
Follow
Follow
Alex Slovacek
Follow
Follow
Daniel Lanham
Follow
Follow
Profit
Now you can sit back and watch a
professional make transactions for you.
This is also a good way to learn Forex
actions and tips in a real-life trading
environment.
The reviews of aforementioned and other best platforms can be found in the
Platform TOP at the end of this e-book
Start gradually
Stop-Loss order
Rule of 1/6
make
soon
profit
than
If in doubt, follow
the leader
If you still arent confident about
your decisions, choose a platform
that lets you follow leaders and copy
their transactions.
Reading graphs
The market can be analysed in several time frames: 10 minutes, hours, days, weeks.
It may often seem that these indicators are contradictory. However, they arent, you
just need to combine their readings. Analyses of longer time periods show
tendencies, ignoring accidental changes, whereas daily and hourly graphs help in
choosing the moment to open and close positions.
Example
1600
1550
10
17
24
1500
November
time
X
1900
1600
1300
Aug
Sep
Okt
Nov
Dec
Conclusion
For a successful and precise market analysis, one has to use at least 2-3 time frames!
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Sidney
Tokio
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Money transactions
The best platforms provide the opportunity to use
Internet-banks, credit cards or online payment operators
PayPal or WebMoney, which are the most convenient and easy
methods of receiveing funds.
Platform
Min. Deposit
Leverage
Rating
ETORO
$50
1:400
visit site
Ava FX
$100
1:200
visit site
Easy Forex
$25
1:200
visit site
UFX Markets
$100
1:200
visit site
Plus 500
$100
1:50
visit site
Demo
1. RO platform review
best for
beginners
One of the most innovative and acknowledged platforms with the biggest number of
clients more than 1.5 million users around the globe. Reasonably considered to be
the most user, especially beginner-friendly and easy to understand platform. The
interface is really amazingly convenient and visually appealing; sparing you
complicated mechanisms and difficult-to-understand information. eToro is known for
its unique social trading tools that let you follow other traders actions, discuss and
copy the transactions of your favourite traders.
Pros
Super friendly for beginners
Community for sharing & learning
Social trading tools
Possibility to follow & copy
professionals
Facts
Founded in: 2006
Registrated in: Cyprus
Regulators: CYSEC, MiFID
Minimal deposit: $50
Leverage: up to 1:400
Spreads: EUR/USD 3 points
Payments: Creditcards, Paypal,
BankWire, MoneyBookers, Webmoney
Commissions: No*
Contacts: + 1-866-350-0881,
support@etoro.com
* Overnight commissions might be applicable
Platform pictures
visit site
best of
all-in-one
Multiple award winning platform that is known for its reliability. The platform is well
suited both for beginners and experienced traders as it is easily adaptable to your
needs and preferences. A great feature is that Ava FX lets you customize and save
your chosen layout and features. And the best part is the Mirror Trading which is
similat to eToros CopyTrader, and allows you to use the knowledge of experienced
traders by verifying your decisions and comparing them to Pros strategies. You can
also use Semi Mirroring, which allows you to see buy and sell signals in real time.
Pros
Mirror trader
Customisable dashboard
24h support
Ultra high security
Facts
Founded in: 2006
Registrated in: Ireland
Regulators: Central Bank of Ireland
Minimal deposit: $100
Leverage: up to 1:200
Spreads: EUR/USD 2 points
Payments: Creditcards, Paypal,
Webmoney, MoneyBookers, Wire.
Commissions: No*
Contacts: +1-212-941-9609,
customer@avafx.com
* Overnight commissions might be applicable
Platform pictures
visit site
editors
choice
A friendly but still serious and trustworthy platform which has raised a lot of
professionals. This platform offers one of the easiest sign-up processes and multiple
payment receival options. A pleasant feature is the super low minimal deposit - just
$25. With one trading account you can trade from desktop, smart phone, iPhone
BlackBerry or PDA. The variety of market reviews and analyses offered by this
platform is especially remarkable, which helps you make the right decisions.
Pros
Extra easy & fast sign-up
Low minimal deposit
Free market analysis news
Facts
Founded in: 2003
Registrated in: Cyprus
Regulators: CYSEC, MiFID
Minimal deposit: $25
Leverage: up to 1:200
Spreads: EUR/USD from 3 points
Payments: Creditcards, Paypal,
Bank Wire
Commissions: No*
Contacts: cs@easy-forex.com
* Overnight commissions might be applicable
Platform pictures
visit site
4. UFX Markets
UFX Markets offer their own unique trading platform which is very well designed and
pleasant to use. Unlike many other platforms out there which have multiple screens
for different currencies and charting tools, the UFX Markets platform offers a single
handy dashboard without unnecessary distractions. UFX also features a daily news
video which is very handy and saves you a lot of reading time. Regarding customer
service our advice is to use the chat instead of email which provided faster feedback.
Pros
Super fast set-up, no income or
document scans required
Daily news video
High class interface
Facts
Founded in: 2011
Registrated in: Cyprus
Regulators: CYSEC, MiFID
Minimal deposit: $100
Leverage: up to 1:200
Spreads: EUR/USD 3 points
Payments: Creditcards, Bank Wire,
Money Bookers
Commissions: No*
Platform pictures
visit site
A popular platform which has proven itself since 1999. The program is also available
for mobile devices including iPad which will allow you to make transactions wherever
you are (Highest rated broker in UKs app store). With Plus500 you can trade not only
currencies but also oil, gold, silver and even such commodities as coffe or sugar!
Pros
Ease of use
Low spreads
Premium for rst deposit till 30%
Available for many devices
Facts
Founded in: 1999
Registrated in: UK
Regulators: FSA
Minimal deposit: $100
Leverage: up to 1:50
Spreads: EUR/USD 2 points
Payments: Creditcards, Paypal,
Bank Wire
Commissions: No*
Contacts: +44 203 002 7290,
support@Plus500.com
* Overnight commissions might be applicable
Platform pictures
visit site