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They take complete responsibility for their trades and acknowledge and accept the risks associated with Forex trading. Trading real money involves hard work. Many people lack the discipline and are unable to be consistent. without prior permission in writing from the publisher. Reliability of trading signals for mechanical systems is in probabilities only. If you are looking for guarantees.au before undertaking this form of investment. A system can help you become consistent. upon the whole or any part of the contents of this publication. The author of this book takes no responsibility for the individual investment decisions the reader of this book takes and recommends all readers of this book consult a licensed financial planner prior to making a decision to invest in Foreign Currency Trading Please refer to the International securities and Derivatives Group Pty Ltd Product Disclosure Statement (PDS) and Financial Services Guide (FSG) and/or supplementary FSG if required. The author and publisher expressly disclaim all and any liability to any person. There are no guarantees or certainties in trading. which can be found on the website www. in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance. risk. The reader of this book acknowledges that Live Trader Global recommends and advises all its members track and keep their own statistical results on trades and to develop a trading plan in accordance with this analysis.Disclaimer The author may be contacted at success@LTGGoldRock. recording or by any informational storage and retrieval system. electronic or mechanical. No part of this book may be reproduced or transmitted in any form or by any means. Ironically. including photocopying. it is important to only trade real money with a risk capital plan. Therefore. whether whole or partial. Trading involves the risk of loss as well as the potential for profit.isdg. The ability to be disciplined and take the trades is equally as important as any technical indicators a trader uses. Any advice given is general advice only.com Copyright © LTG GoldRock 2009 All rights reserved. The material in this publication is of the nature of general comment only. The potential to lose money is real. discipline and the ability to follow rules and trade through any tough period. trading is not for you. 7 Steps to Making a Killing Trading FX Page 1 . and neither purports nor intends to be advice. Live Trader Global GoldRock Pty Ltd is a corporate Authorized Representative of The International securities and Derivatives Group Pty Ltd (AFSL 227544 ABN 22 103 552 683). Readers should not act on the basis of any matter in this publication without considering (and if appropriate.com. whether a purchaser of this publication of not. worrying about the money aspect of trades can contribute to and cause a trader to make trading errors. taking) professional advice with due regard to their own particular circumstances.

...................................................................................................................... 7 Step 6 .. 3 Does trading with the Big Money mean I need Big Money to start with?.................. 9 7 Steps to Making a Killing Trading FX Page 2 ....... jog...................................... 7 Trading with Success...............................................Learn to Trade with the Big Money ............ 7 Crawl.................................................................................................................. 1 Introduction .......................... run and then sprint ...........Understanding probability is worth a Million Dollars ....................................................................................................................................... walk....... breeds Success .............................................................................. 8 Trading as a Business .............................................................................. 4 Step 2 ................ 7 Opening an Account .................................................................................... 8 In Summary ................................................................................................................................................................................. 6 Step 4 ............................................................................................................................Stop pretending to make Money .......................................................................................................................... 7 Step 5 ........................................ 6 Getting the Edge...................................................................................................................................................................................................... 4 Step 3 ................................................................................................................................................................................................................................. 6 Fibonacci ........................................................................ 6 News Announcements .............................................................................................................................................................................. 8 Step 7 ....................................................Risk vs Reward may as well be called Live or Die in trading ..................................................................................................................................................................................................................Finding Big Money Indicators...........................................................Table of Contents Disclaimer ...............Be honest with yourself ............ 3 Step 1 ................................Trade with a Winning Team .....................

Fewer trades doesn’t necessarily mean fewer profits. you do need to decide which one of these people you want to be and then go about setting yourself up to be a winner from the moment you decide to be a trader. if you have found success in trading has eluded you so far. And you must ultimately trade with the big money if you want to make big money. Step 1 . From day one. The big money looks for big moves and big moves don’t come from looking at small time frames. There is no warm up match. This will likely mean you will take fewer trades. Every time you enter a trade you are effectively entering a competition with the banks and you are playing a competition against seasoned veterans and major players in the Forex market. 7 Steps to Making a Killing Trading FX Page 3 . use the same equipment they use and apply the same business like systems they use to make these millions. The best way to start trading with the big money is to learn how to identify and trade with a trending currency pair and don’t base your trending decision off anything less than a 1 hour or 4 hour chart. This is where success in this field differs to other business pursuits where sometimes the outcome is not as clear. anyone serious about trading must learn how they trade. in trading you will be playing against the #1 seed every day.Learn to Trade with the Big Money Banks are the big money traders in this game and the biggest winners of all. you will likely see far more money in your trading account than when you were looking at small time frames for quick profits. With trading. Today. How do I know this? This is an immutable law of success applied to trading and works equally as well to anything else you will commit to in life. It needs to be taken seriously and become your ‘business’ if you want to make a killing in this market.. The good news is . So your success starts well before you invest one cent in these markets.. no seeded draw to see you play the rookies first. It starts with your mindset. the feedback is fast. or to refocus you.Trading is a very competitive game and a very serious business. This applies to trading as it does to just about any pursuit in life. It’s all about effort and focus. Here is an essential rule if you want to make a killing trading FX. just join them! Learn the systems they use and trade with them when the opportunity arises. It is banking traders and institutions who are taking the lion’s share of profits from the currency market and whilst hundreds of millions of dollars a day is traded by individuals on the currency markets.. You don’t have to learn to beat them you need to learn how to join them. The very people that are most likely taking your money now and draining your trading account are the banks and institutions. The following 7 steps will help you develop this mindset and mentally prepare you for your road to being a winner.. so you must be prepared and ready. very few understand how to trade with the big money. It’s cut throat.. Any money in fact.Introduction Let’s not kid ourselves . The winners don’t care about the losers and the losers just fade away. You will know how you are doing almost immediately. When you learn to trade big time frame trends. You know if you are winning or losing within minutes as there is nowhere to hide your wins or losses. to be successful you don’t necessary have to beat them at their own game and play against them . You will not succeed at anything if you simply ‘dabble’ in it. before you start trading. And you are either a winner or loser with no grey areas. If you focus and commit yourself mentally to this business … you could make an absolute killing trading Fx. The great news is they no longer exclusively hold the secrets to taking a share of these profits..

The Big Money trades with trends period. will see them succeed long term. Does trading with the Big Money mean I need Big Money to start with? Forex. but they still make millions. with persistence and good money management. So how do you effectively manage risk? You should not be risking any more than 2. This is the hidden key as to why they end up winning. and if you are going to try and trade against it you will likely end up draining your trading account. Many traders think that starting so small is a waste of their time. Up to 95% of Forex traders really have no idea on how to manage risk and the same amount of them fail. If you don’t have one already you must develop a system to calculate what 2. Banks. If your account is based in USD (for this example if your account is in another currency it does not matter the same principle applies) then you must understand that you are not always trading in USD. When they do. and even if a news announcement is coming. So take advantage of this and start learning to take small profits with the big money. They don’t exist and you would be far better spending your time learning how to manage risk and trade a system that is 60% successful with a great risk management plan.5% of your trading account on any trade.5% actually is every time you trade. but this gives you the ultimate power tool as a trader – the ability to control your risk. professional traders and institutions have strict rules and are experts at managing risks. This is no coincidence. CAUTION. Step 2 . if their bias is against a trend. This is impossible and has never been achieved in the history of trading by anyone over the long term. 7 Steps to Making a Killing Trading FX Page 4 . So why is trading such an emotional experience for most people? Unfortunately they don’t spend the time to understand risk management and to implement a risk management plan.Risk vs Reward may as well be called Live or Die in trading Risk vs Reward is at the top of the list when it comes to making a killing in Forex trading. trading trends off big time frames.The big money may enter off a smaller time frame based on a candle stick formation however their overall strategy will be based on where the major trend is on a pair. Amateur traders are looking for systems and signals that work 85% to 95% of the time. Don’t take another trade with live money until you understand and can systematically calculate this!! This is critical information for you.10c per point. they suddenly realise that trading Forex doesn’t need to be a nail biting experience and that a patience approach. Many of the world’s highest paid Forex traders have win loss ratios close to only 50%. Remember an incredible signal traded poorly will never beat a mediocre signal traded well. a $1.20 profit is definitely more exciting than a drained trading capital account. unlike any other market gives you the ability to start with smaller amounts of required capital by trading with as little as . Why? Because they know how to reduce and manage risk. Making a killing in Forex trading is not all about winning every trade. Starting from the very bottom gives you the opportunity to start trading and staying in the trades with the Big Money and although 10c pips aren’t very exciting. Winning is about how you manage your risk on every trade you take. they will stay out.

use some of the strictest risk management systems on the planet and is the reason why they are so successful. then start to manage your risk as they do. i. The reward must be equal to the stop value and if you are scaling out you must understand precisely what profit target you need in order to cover your risk.103 € Risk 2. you can trade with a 100 point stop loss and yet still risk the same money as a trade with a 25 point stop loss no matter what base currency. You might think that this sort of work is time consuming and an unnecessary effort but if you want to be a winning trader you must know that your competitors. you cannot do this as lot sizes are set in most cases and this is why I prefer the Forex market as a trader. For example. Their traders are accountable on every trade they take and they must follow a professional structure.e. as you can adjust your volume to ensure you still stay within 2. slowly! You will surprise yourself if you use this approach.10 Most people associate a bigger stop loss with more risk. If you do not know how to calculate risk.5% risk.For example. In other markets.603 EUR vs AUD rate 1. this is the risk not the reward.5%. if you take a trade on the GBPUSD (the first pair is always the base currency) using a standard 1.56 Stop loss required 25 Volume allowed for stop required 64. such as Eminis or Futures.ltggoldrock. Below is a calculator you can use on every trade you take. the risk on a 25 point stop loss is significantly different to the same trade taken with the same lot size on the USDJPY. You must strictly calculate the following before you enter a trade: • • • What is your account balance? What is the base currency rate vs the currency your account is held in? Then calculate what volume you require to ensure you stay within your risk tolerance. Don’t go for broke from day one and don’t waste your time and money in Forex trading trying to do it quickly. it will eat you up and spit you out.com Account size AUD $100. Getting rich slowly in Forex is a lot more profitable than trying to get rich quick. Understand ‘risk and reward’ and make it part of your trading plan and you will join the winners! 7 Steps to Making a Killing Trading FX Page 5 . You can make a killing as a Forex trader and get rich. You will need to do this on the run every time you trade and have the time to do this.0 2.500. very rich. Remember. I simply fill in the grey boxes and it will tell me the exact volume to trade and to ensure the stop I am using for the trade keeps me within the 2.5% Risk € 1. banks and professional traders. Once you get used to trading this way you will never trade any other way. This is not necessarily true. please visit www.5% $2.000 Account size EUR 64.00 lot size. If you want to make Forex a career and enjoy the same returns banks do in Forex trading.

The next question is finding a strategy to trade these time frames that will allow you to trade with big money. What you need is something that has an edge and your success will be determined by how you play the edge. The following are some popular strategies which professional traders use to make a killing in trading Fx. and this is not very difficult. It’s then down to your money management and how you execute.Step 3 . usually off 50% or 61. tracking it and trading it is the challenging part.Finding Big Money Indicators You can spend the next few years trying to find indicators that work 90% of the time but by the time you find one that does work 90% of the time the market dynamics change and it no longer works.e. All you need is in fact finding a strategy that works better than 50/50. The way banks and big money traders will trade news announcements is like this . They are simple yet highly profitable. A combination of a Fibonacci retracement and an entry on a wave 3 or 5 is your start to making a killing trading Forex..8% retracements. Candle stick formations on larger time frames such as engulfing candles after pullbacks also work extremely well. an interest rate announcement may be due to come out and the expectation is that the Federal Reserve will leave interest rates on hold. 7 Steps to Making a Killing Trading FX Page 6 . Professional traders are amused and amazed by the the millions of Forex traders trying to find signals that work 80% or better.. big time frames and strong on risk vs reward. This is not easy to learn on your own. For example. but only with trends. This is how banks and major money makers in Forex trade and their systems are not anything secret. while they ignore the amazing profits with much smaller odds of success. Fibonacci Fibonacci is a very simply system used by many big money traders to enter trades. then banks and big money traders will step in and usually make a killing going against this news. however if you are trading with a team of professionals (more on trading with a team shortly) you can learn this technique and potentially make a killing as banks and big money traders often do trading on news. One other type of trading system often used by big money traders is wave trading. Those principles applied daily can have a radical shift in the profits that come into your trading account. Make sure the edge is trading with the big money. Managing it. If the announcement is different to expectation. giving them an entry to go with a trend. big trends. Senior economists and advisors will usually have their own view and expectation on what an announcement will be and therefore the market will have a bias. We have already covered the type of trade set ups you should be looking for. News Announcements Many big money traders will also learn how to trade news announcements such as interest rates. taking trades following large time frame trends on 1 hour charts or larger. Essentially. Getting the Edge It is a myth that to make a killing as a currency trader you need a sophisticated and top line secret trading system that is near impossible to find. employment and jobs data. Often they will wait days and weeks just for one set of data numbers and if they are not in line with expectation they will enter large volumes. This is a skilled and highly lucrative strategy if you are able to build your knowledge and network base to understand how to read a news announcement. the market likes to move in 5 wave formations and waves 3 and 5 are usually the strong trending waves. i. A 50% to 60% success rate can see you make a killing in Forex. but finding it is not. You need to use a system that is simple and provides you with an opportunity to have at least a 50% to 60% rate of success and one that you own emotionally and can move with market dynamics.

jog. breeds Success The lack of a daily support structure and working together with a team is one of the very reasons so many people don't make money Forex trading. Hundreds of millions of dollars to be more specific. No other market in the world can teach you the skills you need like Forex can. run and then sprint There is one golden rule that you must follow if you are going to trade real money from day number one. There is no emotion and if you are a trader reading this you will be nodding and saying . They are alone and no longer on the winning team. The benefits of being a big money bank trader is that you have a team of researchers.. You always will make money in paper as you have no skin in the game and zero risk. Opening an Account When you start trading Forex. Learn the platform first and then trade micro lots of . you can open an account with as little as $200 if you wish. you either win or lose. I made money in paper. If you can't turn $1000 into $2000. but when I went live I just couldn't do it". Everybody thinks big money traders have better systems. There is no grey area. You can add more money to your account in time with your success and profits but here’s an iron clad guarantee. jog. As we covered earlier. It is why so many million dollar bank traders think they can make more money trading from home away from the environment of the bank. open an account with no more than $1000 dollars. When you go live. economists. this is probably the one. there is no hope that with more money such as $20. 7 Steps to Making a Killing Trading FX Page 7 . runners and minute by minute firsthand knowledge of what is happening in the global markets. it’s usually luck. your emotions get in the way. experience and success! Something YOU MUST have too! One of the main reasons why banks are so successful is that they trade as a team. Crawl. It is how you execute that matters and how you can work together with them that counts. This is a top line key to making money as a Forex trader. They don’t have any better systems than you have access to right now. you can potentially make a killing and get very rich slowly. Trading is a zero sum game.10 cents a point therefore making or losing just a few dollars or the cost of a cup of coffee when you start. the very base that supported their trading every day.Stop pretending to make Money There are many trading education companies that insist that you must master the art of trading paper money first before moving onto Real Money. If you don’t train your mind and emotions from day one to trade real money.Trade with a Winning Team This is so critical and if banks have a secret to trading success. So if you genuinely want to make money in Forex. you will find a sense of false self confidence. the only time you should be trading in paper is when you are learning to execute orders on the platform. It rarely ever happens and for those that do. Step 5 . They support one another. run and then sprint.10c to prove your success. is gone. Don’t kid yourself and think you can just roll with an account with $10k and trade full 1.000. sharing their years and decades of experience with their trading team. Crawl. walk. The great thing about the Forex market is that it gives you the chance to trade very small from as little as . walk. but it will usually be quicker than you think if you learn these skills. This is a myth. Their systems are not rocket science and in fact are no more likely to make them more money than you.Step 4 . only to leave and realise their support structure. The benefits and results in terms of pure profit are extraordinary. In fact.000 that you will turn that into $40. but critically they do have a winning team around them that has decades of knowledge. Trading with Success. "Yes..00 lots or you will crash and burn.

Simply be around the best you can find. you don't get paid to get emotional.Understanding probability is worth a Million Dollars In Forex. Sure you will make the odd winning trade but you will struggle. That is only possible when you understand and learn to trade with probability on your side. you can now also get your hands on. What big money traders have is an incredibly disciplined approach. trade too much money. Learning to trade probability can only be done with small lot sizes and trading a system with a professional approach in a businesslike manner. The market is random and we simply do not know which trades will be winners and which will be losers. Big money traders do it. you may as well go to the races or casino because you are gambling. But you won’t see any of it until you understand probability and not certainty.. The chances of you sticking to your plan are improved significantly as now you have someone to answer to. We just have a random probability of success. You will likely spend years and years trying to figure out how to make money consistently. This must be done with small lot sizes to start with and then build it up. in my view. You must always be honest with yourself and to your trading account. The doors that were once locked to the average investor are now open and the same money that has been streaming through. They are very professional and business like and they are also accountable. HELLO!!!! . trade with emotion and fear and never learn the million dollar pay day word called probability. If they are trading at the bank their job depends on them following the plan and trading within the risk allowed. Trading as a Business Do you have a detailed plan? Not just any plan but a well researched plan that is designed and crafted and checked and double checked by your trading team which are successful currency traders themselves. My success has come from 7 Steps to Making a Killing Trading FX Page 8 . If you are consistently losing money. Be trained and rub shoulders with people who walk the walk. if we know that over a given number of trades that a trade is likely to win more often than it loses. Who are you accountable to? Most Forex traders would make more money if they simply teamed up with someone they know and trust. senior bank traders do it. Step 7 . it’s sensible you do it too. However. Trading with probability is not gambling as the odds are in your favour and for you to be successful you must be able to take each trade that meets the plan. But in Forex trading it does not exist.Be honest with yourself This is also another critical difference between big money traders and traders that don’t make money in Forex.Unless you educate yourself with real professional traders. They are accountable to the trading room director or whoever they are trading with at all times. Sharing with them what you are doing and trading with a winning team. Long term success is all that counts. you are likely never to make money as a currency trader long term. the exact same systems that the banks use on a daily basis to drive their billion dollar profits are no longer hidden in their vaults and the same tools and systems are available to everyday investors and traders. not just talk the talk. These days. You get paid when you follow a plan with an edge and have the probabilities on your side. If you don’t. That plan does not need to be sophisticated. Losing traders skip trades. Human beings love certainty and we are surrounded by it. then if we simply apply good money management and take each trade we will likely succeed.. Yes your trading statement. million dollar traders do it and if you want to make the same returns they do. Step 6 . gave them their trading plan and allowed them to check their results every week. Why are you continuing to do the same thing? Things must change and it can start with you making a commitment from today onwards that you will be accountable by joining a trading team.

au before undertaking this form of investment. Start out trading 10 cents a point and if you are following million dollar traders trading big positions and you are consistently profitable with small volumes. which can be found on the website www. *Commissions and margins may change at any-time without notice. the solo approach is likely to lose money. To Your Success.LTGGoldRock.isdg. All you have to do is try and follow the principles and advice you now have in your hands and truly this is all you need to make a killing trading Forex. Any advice given is general advice only. Trading involves the risk of loss as well as the potential for profit. but more simple than you think. Please consult your licensed financial consultant to decide if this product is right for you. Even if you have never been a successful trader before. Making money as a currency trader is simpler than you think. not easy.educating myself from the best and not trying to reinvent the wheel and think I will be better off doing it on my own to save money. In my experience. In Summary We have now covered the only 7 Steps you need to make a killing trading Forex.com. Forex is the only market you can start to learn to invest with real money from day one. Andrew Barnett Managing Director LTG GoldRock Freecall: 1 800 4 FOREX (1 800 436 739) International: +61 7 5451 4055 Fax: +61 7 5302 6688 http://www. not make money following that type of strategy. 7 Steps to Making a Killing Trading FX Page 9 . you can leverage off them and build your investment size and continue to build it over the coming years ahead.) is a corporate Authorized Representative (Authorized Representative number # 335434) of The International securities and Derivatives Group Pty Ltd (AFSL 227544 ABN 22 103 552 683). Here it is in a nutshell. you can do this.com Live Trader Global GoldRock Disclaimer: Live Trader Global GoldRock Pty Ltd (ACN 135 321 649. Please refer to the International securities and Derivatives Group Pty Ltd Product Disclosure Statement (PDS) and Financial Services Guide (FSG) and/or supplementary FSG if required.