:

Her
eist
heOut
li
newear
egoi
ngt
obeusi
ngdur
ingt
hecour
seoft
heTr
aini
ng

*
Stage1*

❇I
NTRODUCTI
ON

❇WHATI
SFOREX

❇WHATI
STRADEDONFOREX

❇WHOI
SAFOREXBROOKER

❇TRADI
NGTI
MES&TRADI
NGSESSI
ONS

❇TERMI
NOLOGI
ESUSEDI
NFOREX.

❇FORMSOFTRADI
NG

❇CURRENCYPAI
RS.

❇MT4I
NTERFACEPART1

*
STAGE2*

❇WHATI
SAPI
P

❇CONCEPTOFBI
DANDASKPRI
CE

❇WHATI
SASPREAD

❇FORMSOFTRADI
NGORDERS

❇CONCEPTOFTAKEPROFI
TANDSTOPLOSS

❇LEVERAGE

❇LOTSI
ZE

❇RI
SKMGT

❇COMMONMI
STAKESBYTRADERS

❇TRADI
NGPLAN

❇MT4I
NTERFACEPART2
*
STAGE3*

❇HOW TOKNOW WHENTOACTUALLYBUYORSELL

❇HOW TOGENERATESI
GNALSFORYOURSELVES.

❇INDI
CATORS.
..
MovingAv
erages,
Stochast
ic,
MACD,
Bol
l
ingerbands,
RSI
,ADX,
Par
abol
i
cSAR,
ATR,I
chi
moku.
..
.et
c

❇TI
MEFRAMESANALYSI
S

❇SUPPORT&RESI
STANCELEVEL

❇CANDLESTI
CKANALYSI
S

❇FI
BONNACCILEVELS

❇PI
VOTPOI
NTS

❇ELLI
OTWAVES&FRACTALS

❇CHARTPATTERNS

❇MARKETSTRUCTURE

❇DEMANDANDSUPPLY

*
STAGE4*

❇PUTTI
NGI
TALLTOGETHER

❇FOREXTRADI
NGSTRATEGI
ES

❇MENTORSHI
P

❇LI
VETRADI
NG

❇FOLLOW UP
Thisi
st heout
li
net
hatwearegoi
ngt
obeusi
ngov
ert
hisnextCoupl
eofweeks,
Sol
et'
snot
e
them downandfol
l
owclosel
y

I
faTaskorassi
gnmenti
sgiv
enouti
nt hegroup,
Tryandjoi
nyourf
ellowcoll
eaguesinthe
gr
ouptoat
temptdoi
ngthem.
..I
t'
sal
ltobroadenyourknowl
edgeofthiswonderf
ulfi
eld.

Alsoduri
ngthecourseoft
heTr ai
ningandy
ouhav
eanyquest
ions,
dowel
ltoaskandf
eel
free
becausethi
sisaTraini
ngClass.

Thoughast i
megoeson,wemightatt
endt
othem quest
ionsattheendofthecl
assesiftheyar
e
i
nterr
upti
ngthefl
owoftheseminar
,soal
waysnot
ey ourquest
ionsdowninyourexer
cisebooks
sothatuwon'
tfor
get

*
WHATI
STRADEDONFOREX*

Whatistr
adedont
heForexmar
ket
?Hmm!t
hisi
saquest
iont
hatpopsupal
lthet
imeont
he
i
nter
net,
andpeopl
e'
sminds.

Thisisnotaform ofmar
ketwher
eyoubuycl
othesorshoesi
nst
eadi
nFor
exmar
ketwet
rade
thefoll
owing:

1.GOLDE

2.SI
LVER

3.SHARESEU

4.CRYPTO

5.COMMODI
TIES

6.SHARESUS

7.SHARESUK
8.BONDS

9.ENERGY

10.CRYPTO1

11.I
NDI
CES

12.USA

13.FOREX

14.SPOTOI
L

15.FUTURES

Sowhatweact
ual
l
ydoi
sthatwear
econst
ant
lyt
ransact
ingi
ntheabov
eit
ems.

*
TRADI
NGTI
MESANDTRADI
NGSESSI
ONS*

Ther
ear
evar
ioust
radi
ngt
imes/
tradi
ngsessi
onsi
nFor
exmar
ket
.Theyi
ncl
ude:

SYDNEYSESSI
ON

TOKYOSESSI
ON

LONDONSESSI
ON

FRANKFURTSESSI
ON

NEW YORKSESSI
ON

Thesessi
onnamesar
eder
ivedf
rom t
hemaj
orci
ti
esi
nwhi
chmostoft
het
ransact
ionsar
e
bei
ngcarr
iedout
.

:
We’
l
lbeki
cki
ngof
fwi
tht
hef
ir
stt
opi
cont
heSt
ageOneout
li
ne.
.
*
INTRODUCTI
ONANDWHATI
SFOREX*

WHATI
SFOREX?

Forexi
saShor
tformforFOREIGNEXCHANGEi
tisoneoft
hel
argestmar
keti
nthewor
ldwi
tha
tot
aldai
lyl
i
qui
dit
yof$5.3Tr
il
li
ondol
lar
s.

TheNewYorkStockExchange,
whichisthesecondlar
gestmarketi
shavingadail
ytr
ading
vol
umeofover$169Bill
ionDol
l
ars(Checkonli
neforcl
ari
fi
cat
ion)whil
ethecry
ptomarket,
hasa
tot
almar
ketcapofjust$262Bi
ll
ionasoftoday,Not
e:Thi
sisnoteventhedai
lyvol
ume.

Thesest
atist
icsar
eonl
ine-dowel
ltoconfi
rmt
hem.Thi
sist
oshowt
hemassi
vel
i
qui
dit
yont
he
Forexmarketandhowhugethemar
ketis.

*
TERMI
NOLOGI
ESUSEDI
NFOREX*

TogoLONG.
..
.meanst
oBUY

TogoSHORT.
..
..
.meanst
oSELL

*
BULLI
SHMARKET*

Amar
kett
hati
sgoi
ngt
rendsupwar
d.

*
BEARI
SHMARKET*

AMar
kett
hatt
rendsdownwar
d.

Acur
rencypairt
hati
sbul
l
ishmeansacur
rencypai
rthati
smov
ingupt
rend.Samet
ermi
nol
ogy
wi
tht
her ev
ersecase.

*
BULLS*

Buy
ersar
eref
err
edt
oasBul
l
s

*
BEARS*

Sel
l
ersar
eref
err
edt
oasBear
s

*
RANGI
NG*

AMarketi
ssaidt
ober angi
ng,i
samar
kett
hatdoesn'
thav
eapar
ti
cul
ardi
rect
ion.I
t'
snei
ther
mov
ingupwardsnordownwards.

*
TRENDI
NG*
Amar
kett
hati
sei
thermov
ingupwar
dordownwar
d.

*
HAWKI
SH*

Thi
ster
mi smostl
yusedwhenr ef
err
ingt
otheCentr
alBankGovernororpersonnelofacountry
.
Whentheyar
eHawki sh,t
heyt
endtobeli
ber
alonint
erestr
ateandarewill
ingtoincreasei
t.Thi
s
i
sgoodnewsf ori
nvestor
s.

*
DOVI
SH*

Thi
sist
heopposi
teofHawki
sh.

Fi
nanci
alpersonnel
whoar
eDov
ishar
ever
yrest
ri
cti
ve.Theydonotwantt
otamperwi
tht
he
i
nter
estrat
e.

Theymayt
ryt
oreducei
twhi
chmeansbadnewsf
ori
nvest
ors.

Sy
dneySessi
onr
epr
esent
sAust
ral
i
aandot
hercount
ri
esar
oundt
hatTi
mezone/
regi
on.

Tokyosessi
onsomet
imescal
l
edASI
ANSessi
onr
epr
esent
sJapanandsomeoft
heAsi
an
count
ri
es.

LondonSessi
onr
epr
esent
sTheUni
tedKi
ngdom andt
hecount
ri
esar
oundi
t.

Fr
ankf
urtsessi
onwhi
chi
sinGer
manyr
epr
esent
sEur
ope.

NewYor
kSessi
onr
epr
esent
sTheAmer
icas.

_
*Not
e:For
exi
sa24hourmar
ketbutnotopenonweekends(
Sat
urday&Sunday
s)*
_
*
WHOI
SAFOREXBROKER*

For
exBr
oker
sar
efi
rmst
hatgi
vesy
ouaccesst
otheFor
exMar
ket
.

Theyprovideyou,atrader,
accesstot
hef
inanci
almar
ketbyall
owingyouaccesst
oat r
adi
ng
account.Theygiv
et r
adersLeverage(
wewouldseet
hatsoon)theyal
soprovi
desuppor
t
funct
ionstothetraders.

Bel
owar
evar
iousbr
oker
sint
heFor
exMar
ket

1.Hot
for
ex

2.Fxt
m

3.Fxcm

4.Fbs

5.Li
teFor
ex

Andmanymor
e..
.

Wewoul
dseemoredetail
edi
nfor
mat
ionandexpl
anat
iononwhatf
orexbr
oker
sar
elat
eroni
n
t
hecour
seoft
hist
rai
ning.

Eachsessionhasitsownopeningandcl
osi
nghour
sandal
lsessi
ononl
ylast
sfor9hour
s
Sydneysessionopensat9PM GMT

Toky
osessi
onopens11PM GMT

Londonsessi
onopens7AM GMT

Fr
ankf
urtsessi
onopens8AM GMT

NewYor
ksessi
onopens1PM GMT

_*
Notetheseti
mesasy ouwouldbeneedi
ngt hem fortr
adi
ng.Alsonotet
hattheti
mezonesare
i
nGMT( GreenwichMeri
dianTi
me).Togettheirappropr
iat
eclosi
ngtimeforeachsessi
on,
add
9hour
st othei
ropeni
ngti
me.*_
:Sy
dneysessi
onthatwouldcloseat6AM GMTaf
teraddi
ng9hour
stoi
tsopeni
ngt
ime(
9PM)
.
Usethesametechni
queforeachsession.

TIP:I
tisgoodtot
radet
hemar
ketwhen2ormoresessi
onsar
eopenatthesametimebecause
volat
il
it
ywil
lbehi
ghwhent
woormoresessi
onsar
eopenedatthesameinst
ance.

Morevolati
li
tymeansmoremoneyforafor
ext r
ader.Aforext
raderwoul
dn'
twantt
otradea
si
lentmarketbecauset
her
ewon'tbemuchfluctuat
ionsandfl
uctuat
ionmakesmoneyfora
tr
ader.

AnotherExampl
eisoft
hisconceptwoul
dbetheLondonandFrankf
urtsessi
onwhi
chwil
lbe
openatthesametimeatsomepointinwhi
chtheTokyosessi
onwouldjoi
nthem.(
More
vol
atil
i
ty)

*
NFP*

Anacr
ony
mforNONFARM PAYROLL.

Av
eryi
mpor
tantNewsEv
enti
ntheUS.

Al
somostoft
hecur
rencypai
rshav
especi
fi
cnamest
heyar
ecal
l
ed.

Thedol
l
ari
ssomet
imescal
l
edGr
eenback.

ThePoundi
scal
l
edt
hecabl
e

TheNewZeal
anddol
l
ari
scal
l
edt
heKi
wi

TheAust
ral
i
andol
l
ari
stheAussi
e

TheCanadi
andol
l
ari
scal
l
edt
heLooni
e

Oi
li
sref
err
edt
oast
heBl
ackGol
d

*
FORMSOFANALYSI
S

Ther
ear
ebasi
cal
l
ytwof
ormsofAnal
ysi
sinFor
ex:

FUNDAMENTALANALYSI
S&

TECHNI
CALANALYSI
S

[
09/
04,
15:
46]:
*TERMI
NOLOGI
ESUSEDI
NFOREX*
Likeeveryfi
eldthereis,youwoul
dhavetogetfami
li
arwi
thit
sTermsandTer
minol
ogi
es.I
n
forex,t
hisdoesn'tchange.Youneedt
olear
nitster
minol
ogytocommuni
cat
ewitht
hemarket
,
analyst
sandf el
lowt raders.

*
FUNDAMENTALANALYSI
S*

Al
soknownasNewsTr
adi
ng.

Herey
ouareanal
yset
heFor
exmar
ketwi
thr
espectt
otheNews.I
t'
sbeensai
dthatNewsi
s
whatmov
esthemarket
.

Every
dayvar
iousnewsarebeingpubli
shedbymajorcount
ri
esandtheyei
therposit
ivel
yor
negati
vel
yaf
fectthecur
rencypai
rinv
olvedandt
heny oumakeyourtr
adi
ngdecisionbasedon
thenewspubli
shed.

Weseet hesenewsonCNN,
Bloomber
g,CNBCet
cAl
soYourMT4Apphasasummar
yofnews
sect
ion.

Someothersi
tesl
i
kef
orexf
act
ory
.com,
dai
l
yfx.
com ar
epl
acesy
oucanf
indasummar
yoft
hese
news.

AsaFor ext
rader
,whet
hert
henewsisposit
iveornegati
ve,t
hisisnoneofyourbusiness
becauseyoumakemoneybothways.Thoseint
oCryptoTradingwouldtel
lyouthatyouonl
y
makemoneywhenaCoi nisappr
eci
ati
ngbutinForex,wemakemoneybot hway s.

I
faCurrencypai
risappr
eci
ati
ng,Wegol
ongont
hepai
r,whenacur
rencyi
sal
sodepr
eci
ati
ng
basedonthenews,wegoshortont
hepai
r.

*
NONFARM PAYROLL*

Thi
sisanewsr
eleasedbyt
heUni
tedSt
atesofAmer
ica.

Amongal
lthenewsrel
easedbytheUS,
thi
sist
hehighestbecausei
tcausesthemostvol
ati
l
ity
i
nthemar
ket.NonFarm Pay
rol
li
soneofthebi
ggestnewsthatever
ytraderawai
tson.

MostTradersTradeonceamont h.Theyfundthei
raccountsspeci
all
yforNFPandcl osef
orthe
month.Peoplemakewhaty ouwouldbepai di
nay earj
ustonanNFPaf t
ernoon.Thati
show
massiveNonFar m Pay
rol
lnews.Itcauseshugevolat
il
it
yinthemarket.

I
t'
saNewst hatcontai
nsvari
ousdataandstat
ist
icsr
eleasedbyt
heUSBur
eauofLaborand
St
ati
sti
cs.I
t'
sveryinfl
uent
ial
asanindi
catorofUSEconomybecauset
heUSFeder
alReserv
e
makesmonetar
ypol
icydeci
sionsbasedonthi
sdat
a,henceI
nvest
ors,
Financi
alAnal
yst
s,For
ex
t
rader
s,St
ocktr
ader
smaket radi
ngdecisi
onsont
henews.

I
tisr
eleasedev
ery1stFr
idayoft
heMont
hby8:
30am EST.
i.
e1:
30pm GMT(
Niger
ianTi
me)

Thedat
arel
easedi
ncl
ude:

.1)
.NonFar
m Pay
rol
li
ncr
ease

Thisisthenumberofnewj obsaddedintheUSlaborsectori
nt heprev
iousmonth.Thi
sdata
i
ncludesemploymentinthemanuf act
uri
ngsect
or,constr
uctionsector
,goodssect
oretc
excludi
ngfarm worker
s(hencethename),al
soexcludi
ngpr i
vatehousehol
demployeesandnon
profi
torgani
zati
ons.

I
tal
soi
ncl
udes:

1.Unempl
oymentr
ateoft
heUS

2.Whi
chsect
orsoft
heeconomy
,thesej
obswer
eaddedmost
ly

3).Thi
sisal
soanEconomici
ndi
catorbecauseev
enift
henumberofwor
kersdoesn'
tchange,
buthowevert
hei
rear
ningsi
ncr
easeditwouldhavet
hesameef
fectasi
fthei
rnumberincr
eased

4).Samealsocouldbei
nterpr
etedinrever
se,ift
heirear
ningsreduced.Thenlast
lythedata
i
ncludesarevi
sionofpr
eviousnonfarm payr
ollbecauseinvest
orscompar et
hesev alues
whethert
herehasbeenani mprovementorreducti
on.Thisalsogi
vesy ouanideaifthe
economyisgrowingorr
educing.

I
NTERPRETATI
ONOFNFP*

Whenmor ejobsareadded,
itmeanst
hatbusinessventur
esaregrowi
ngandremembert
hat
thesenewlyempl
oy edwoul
dbepaidhencemor epeopl
ewoul dhavemoneyt
ospendongoods
andservi
cesther
ebyincr
easi
ngthegrowthoftheeconomy .

However
,whenthenumberofjobsaddedreduces,
ther ev
erseoccur
s.Peopl
ewon'
thav
e
moneytospendongoodsproducedandservi
cestherebydwindl
ingt
heeconomy.Al
sotheUS
gov
thasanamountofmoneypai dtotheunemployed.

Whenmor ejobsareadded,morepeoplewoul
dbeemployed,t
hisr
educest
heunemploy ment
rat
e,astheunemployedcit
izensr
educe,l
essmoneyl
eavesthegover
nmentpocket
,hence
boosti
ngtheeconomy .Thi
sisabreakdownonwhatNFPentai
lsandwhyit
'ssovol
ati
le.It
's
usual
l
yrel
eased1stFr
idayofev
erymont
h.

*
TECHNI
CALANALYSI
S*

Thi
sform oft
radi
ngiswheny ouanal
yset
hemar ketusi
ngIndi
cat
ors,
Chart
sPatt
erns,
Candl
esti
cks,
Fibonacci
,Suppor
tandResi
stance,Pi
votPoi
nts,
Ell
i
ottwav
esetc

Whenyouuseanyoft
heabov
et oanaly
zethemarket
,It'
scall
edTechni
calAnal
ysis.Major
ityof
whati
sli
stedont
hecour
seoutl
i
near eTechni
cal
Analysi
s.It
'sthemostpopul
arform oftr
ading.

Thisi
sbecausehighvol
atil
enewsisnotreleasedevery
daysoy oucan'
tj
ustdependon
FundamentalAnal
ysi
salone.AsaForexTrader,youmustlear
nhowt otradethemar
ketusi
ng
Techni
calAnaly
siswhentheNFPisnotav ail
ableasthi
smakesy ouacompl et
eFor
exTrader
.

Amongt
he2maj
orFor
msofAnal
ysi
s,

Noonei
ssuper
iort
oeachot
herandal
sonoonei
susedi
nisol
ati
on.

Wej
ustent
eredt
hepr
act
ical
sect
ionoff
orexwher
eal
lhandswoul
dbeondeck.

Fort
hissect
ionyouneedyourMT4App.OpentheApptor
egi
sterf
orademoaccount
.The
appl
i
cati
onautomati
call
ycreat
esademoaccountfory
ou.

Li
keIsai
dear
li
er

Fort
hiscomi
ngpar
tst
obemor
eint
eract
ive,
Wewoul
dal
lneedt
oopenourMT4Apps

Let
'sOpent
heAppsot
hatwecanRegi
steri
t.Wewoul
dal
lSt
artwi
th*
DEMOACCOUNTS*

SOOPENTHEAPP,
ITWOULDAUTOMATI
CALLYCREATEADEMOACCOUNTFORYOU.

Uwoul dseewher
eiswr
it
tenst
artwi
thoutRegi
str
ati
onThataut
omat
ical
l
ycr
eat
esaDemo
accountfory
ou

I
FYOUDIDN'
TSEESTARTWITHOUTREGI
STRATION,
ANDITTAKESYOUTOAPLACEWHERE
I
T'SASKI
NGYOUTOSELECTBROKER,
JUSTSELECT*METAQUOTESDEMO*.

THENFI
LLI
NYOURDETAI
LSONTHENEXTPAGETHATWOULDCOMEOUT.

THI
SSECONDMETHODWOULDALSOCREATEADEMOACCOUNTFORYOU
Thi
sDemoAccounti
swhatwewoul
dbeusi
ngf
orNow

CURRENCYPAI
RS

EUR.
..
..EURO

USD.
..
.USDOLLARS

GBP.
..
.GREATBRI
TISHPOUNDS

CHF.
..
..
.SWI
SSFRANC

NZD.
..
.NEW ZEALANDDOLLARS

AUD.
..
..AUSTRALI
ANDOLLARS

CAD.
..
.CANADI
ANDOLLARS

JPY.
..
.JAPANESEYEN

CNY.
..
..CHI
NESEYUAN

et
c

[
09/
04,
15:
46]:

SoasToMakeourCl
asst
odayeasi
erandSmoot
h

Ensur
eyouar
eseei
ngt
hatpagecont
aini
ngt
he*
CURRENCYPAI
RS*

ony
ourMT4.

ToAccesst
hePage,
Fol
l
owt
heI
nst
ruct
ionsIwoul
dOut
li
neBel
owt
oEnsur
eUgett
othat
i
nter
face
[
09/
04,
15:
46]:
Thesear
esomeoft
hel
i
stofPopul
arCur
renci
est
radedont
heFor
exmar
ket

Wi
tht
hei
rabbr
evi
ati
onsandFul
lmeani
ngs

Asuobser
veony
ourMT4.
..
..

I
t'
smost
lywr
it
tenast
hei
rabbr
evi
ati
ons

[
09/
04,
15:
46]:
Amongt
hosepai
rsofCur
renci
es

Thef
ir
stCur
rencywi
thi
nthepai
riscal
l
ed

*
THEBASECURRENCY*

WHI
LE

ThesecondCur
rencywi
thi
nthepai
riscal
l
edt
he*
QUOTECURRENCY*

Let
'snot
ethesedown
[09/04,
15:46]:
ForThoset
hathav
eLoggedi
n,Uwoul
dseewher
eCur
rencypai
rsar
eli
sted,
Likeinthei
mageabove

Ev
eni
fit
'si
nadi
ff
erentf
ormat
,Don'
twor
ry.

Themosti
mpor
tantt
hingf
ornowi
sthatUar
eseei
ngt
her
eCur
rencypai
rs

Wewoul
daddr
esst
heFor
mat
slat
er

[
09/
04,
15:
46]:
Anot
herexampl
eis

*
GBPJPY*

I
nthi
ssecondexampl
e

Gr
eatBr
it
ain(
GP)Poundsi
stheBasewhi
l
eJapaneseYenI
stheQuot
e

.
.

Becauset
heGPBi
sst
rongert
hant
heJapaneseYen

[
09/
04,
15:
46]:
Let
'st
ake*
USDCAD*asanexampl
e

I
eThef
ir
stCur
rrencypai
ront
hati
maget
hatIupl
oadedabov
e

USDol
l
arsi
sst
rongert
hant
heCanadi
anDol
l
ar.
(Ibel
i
eveweal
lknowt
hat
)
HenceUSDi
stheBasewhi
l
eCADi
stheQuot
e

[
09/
04,
15:
46]:
Ani
mpor
tantt
hingt
onot
eher
eist
hat

TheBaseCur
rencyi
sal
way
sst
rongert
hant
heQuot
eCur
rency

(
wit
hfewexcept
ionsandwewoul
dseewhysoon)

[
09/
04,
15:
46]:
Let
'st
ake*
USDCAD*asanexampl
e

I
eThef
ir
stCur
rrencypai
ront
hati
maget
hatIupl
oadedabov
e

USDol
l
arsi
sst
rongert
hant
heCanadi
anDol
l
ar.
(Ibel
i
eveweal
lknowt
hat
)

HenceUSDi
stheBasewhi
l
eCADi
stheQuot
e

[
09/
04,
15:
46]:
Ani
mpor
tantt
hingt
onot
eher
eist
hat

TheBaseCur
rencyi
sal
way
sst
rongert
hant
heQuot
eCur
rency

(
wit
hfewexcept
ionsandwewoul
dseewhysoon)

[
09/
04,
15:
46]:
Amongt
hosepai
rsofCur
renci
es

Thef
ir
stCur
rencywi
thi
nthepai
riscal
l
ed

*
THEBASECURRENCY*
WHI
LE

ThesecondCur
rencywi
thi
nthepai
riscal
l
edt
he*
QUOTECURRENCY*

Let
'snot
ethesedown

[
09/
04,
15:
46]:
AlsoBesi
deeachoft
hosepai
rs.
..

Uwoul
dseesomesetofNumber
swr
it
tenbyt
hesi
de.
..

Justf
ocusont
hef
ir
stnumberf
ornow

[
09/
04,15:
46]:Thenthenexti
mportantthi
ngi
t'
stel
l
ingy
oui
showManyQuot
eCur
renci
esdo
y
ouNeedtoget1UnitoftheBaseCurrency

Soi
nthi
scase,Uwoul
dneed360Nai
rat
obeabl
etoget1USDol
l
ar

[
09/04,15:
46]:Thatnumberi
stel
li
ngyou,howmanyUni
tsoft
heQuot
eCur
rency
,Uwoul
d
needtoget1uni
toftheBaseCurr
ency
.

Let
'snot
etheabov
est
atementdown,

Iwoul
dexpl
aini
ndet
ail
snow

[
09/
04,
15:
46]:
Anot
herexampl
eis

*
GBPJPY*
The6t
hpai
rint
hati
mageabov
e

I
nthi
ssecondexampl
e

Gr
eatBr
it
ain(
GP)Poundsi
stheBasewhi
l
eJapaneseYenI
stheQuot
e

Becauset
heGPBi
sst
rongert
hant
heJapaneseYen

[
09/
04,
15:
46]:
LetmeuseaLocal
scenar
iot
ogi
vey
ouguy
sanexampl
e

I
fyouhav
eaCur
rencypai
rbt
wUSDandNai
ra

I
e

*
USD/
NGN*
..
..
..
360

Thi
sisf
ir
stt
ell
i
ngy
out
hatUSDi
sst
rongert
hanNai
ra,
henceUSDi
stheBaseandNai
rat
he
Quot
e

[
09/
04,
15:
46]:
Nowwheny
ouseet
hesef
ewexcept
ions.
.

Don'tbot
hertoomuch.
..
.Aboutwhyt
heWeakeronei
swr
it
tenf
ir
stev
ent
houghi
t'
squi
tegl
ari
ng
thattheQuot
eisst
ronger

Whaty
ouj
usthav
etodoi
stot
akenot
eoft
hem,

I
tdoesn'
taf
fecty
ourt
rades.

I
t'
sjustf
ort
heknowl
edgesake,sonot
ethem down.

Theyar
ethepai
rsIl
i
stedabov
e

[
09/
04,
15:
46]:
LikeIt
oldy
ouguy
s..
.Thatt
heBasei
sal
way
sSt
rongert
hant
heQuot
e

Ther
ear
eoccasi
onsi
nwhi
chi
sSt
rongeronesar
ewr
it
tenast
hesecondpai
r
Exampl
esi
ncl
ude

*
AUDUSD*

USdol
l
arsi
sst
rongert
hanAust
ral
i
andol
l
ars

*
NZDUSD*

USdol
l
arsi
sst
rongert
hanNewZeal
anddol
l
ars

*
EURGBP*

Poundsi
sst
rongert
hanEur
o

Ual
way
sknowt
hem becauset
heyst
artwi
thzer
opoi
ntsomet
hingwr
it
tenbesi
det
hem

[
09/
04,
15:
46]:
Sot
hati
swhatt
hatnumberbyt
hesi
de,
Alway
stel
l
sU.

HowmanyQuot
ecur
renci
esdoy
ouneedt
oget1Uni
toft
heBaseCur
rency

Ibel
i
evet
hisi
scl
ear

Letmegi
veanot
herexampl
eont
heChar
ttomakei
tmor
ecl
ear
er

:
Howev
erApar
tfr
om t
hosef
ewexcept
ions

Gener
all
yinFor
ex.
..TheBasei
sal
way
sst
rongert
hant
heQuot
e,Nowt
hisi
swher
epeopl
e
al
waysgetconf
used..
..

Becauset
hosewhot
aughtt
hem usedt
hewr
ongsemant
ics

UBUY.WHENYOUKNOW THATTHEMARKET*
WOULD*GOUP

WHI
LE

USELLWHENUKNOW THATTHEMARKET*
WOULD*GODOWN

Wewi
l
lnowmov
etoanot
herVer
yimpor
tantPar
tofFor
ex

Let
'sl
i
stencl
osel
yher
e

Thi
siswher
emanypeopl
eal
way
sasksQuest
ions

Howev
er,Fory
ourFoundat
iont
obeSt
rongi
nFor
ex,
Uneedt
ogr
abt
hisconcept
.Al
so,
no
matterwhichoneiswri
ttenf
irst,AlwaysknowthatthePri
ceuseebesi
dei
tisHowmanyoft
he
QuoteCurrency,uwouldneedt oget1uni toft
heBaseCur r
ency
.NowasUsual
,Iwoul
dusea
Localscenari
otoexpl
ainthi
st opic,bytheti
meI'm done

Thi
sseemi
ngl
ycompl
exconcept
,woul
dlookv
eryeasyt
ou

Bel
i
eveme,
not
hingi
shar
dinFor
ex

Justtel
lyour
sel
fthati
fYoungy
oungBoy
swhoar
enotev
enhal
faseducat
edasUcandot
his,
thatutoocandoit

[
09/
04,
15:
46]:
Letmeuset
hisAnal
ogyt
oexpl
ainwhatImean.

Fort
hoseofy
ouwhoar
enotNi
ger
ians.

Iwoul
duse2namesi
nthi
sbr
iefAnal
ogy

Name1:
Buhar
i(Hei
sthecur
rentpr
esi
dentofNi
ger
ia)

Name2:
Jonat
han(
for
merpr
esi
dent
)

Nowl
et'
sgett
otheAnal
ogysoast
ounder
standi
nal
ayman'
swayhowFor
exact
ual
l
ywor
ks.

WhenJonat
hanwasi
npower
.

Dol
l
arwasatat
imear
ound180Nai
rat
o220Nai
ra

Let
'sj
ustt
aket
heav
erageandsay200Nai
ra.

WhenBuhar
ient
eredpower..
.Someofy
ouwoul
drecal
lthatar
ound2016,
atsomepoi
ntDol
l
ar
shutupt
o500Nairaperone.

Assumingy ouknewDoll
arwouldappr
eci
ateagainstNair
aliket
hisanduhad2Mi l
li
onNai
ra
l
yingfal
lowi nt
heBankaccount,Uknewfrom yourexperi
enceasaForextraderthat
uncert
aint
yinGov er
nmentweakensacur
rencypairandyouusedt hi
syour2mi l
li
onandbought
doll
arsandkeptin2015.

I
twoul
dgi
vey
ouabout$10,
000.

Now1y
earl
ater
,Dol
l
arj
ustescal
atedt
o500Nai
raperdol
l
ars.

Andy
ouwentt
otheBank,
cashedouty
our$10,
000andexchangedi
tbackt
oNai
ra.

I
twoul
dnowy
iel
dU5Mi
l
li
onNai
ra(
rememberuj
ustst
ocked2mi
l
li
onNai
ra)
.
Thatmeansumade3Mi
l
li
onNai
raPr
ofi
t

[
09/
04,
15:
46]:
Let
'sf
ir
eon

TheBi
gQuest
ioni
sNow

*
WhenDoy
ouBuyandWhenDoy
ouSel
l
*?

[
09/
04,
15:
46]:
Ify
ounot
ice,Icar
eful
l
ylabel
ed*
WOULD*

Idi
dn'
tsay

UBuywhent
heMar
keti
sgoi
ngUp

Assumi
ngIsai
dthat
,Iwoul
dst
il
lbecor
rectbuty
ouwoul
dgetmor
econf
used

Uwoul
dst
artaski
ng,
Whobuy
sanyi
tem wheni
t'
sgoi
ngUp

[
09/
04,
15:
46]:
Thi
sisj
ustar
awAnal
ogy,
becausei
nFor
exmar
keti
t'
sev
enmor
eint
erest
ing.

Udon'
thav
etowai
tfor1y
earormont
hst
omakeMoney
.

TheseCurrenci
esareConstantl
yFluct
uati
nginmi nutes(
whatIusuall
yref
ert
oasVolat
il
it
y).
,
soit'
sthoseopport
uniti
escausedbytheseFluctuat
ionsi
nthePriceofoneCurr
encywi
th
respectt
oanotherthatFor
extradersmaketheirmoneyfrom.

Becauset
heyhappensDai
l
y.

That
'swhyBankswoul
dnev
eral
l
owy
out
olear
nFor
ex.

Theypr
eferUcomet
othei
rBanksandf
ixt
hemoneyf
ormeager
eint
erestr
ates.

SoLetmeexpl
aint
oUguy
s..
.

Whatwear
eact
ual
l
ydoi
ngi
nFor
exi
nver
ysi
mpl
eter
ms

Justf
oll
owmeher
ecl
osel
y

I
fyouaredoingany
thi
ngelse,j
ustf
ocusfrom nowonwar
dsToevenshockyou,I
nvest
ment
Bankscont
ri
butemorethan70%ofthet
otalLi
quidi
tyi
nFor
ex,t
heyuseyourMoneytoTrade.

Dri
veBi
gcar
sandLi
vei
nBi
gHousesandgi
vey
oupeanut
sasi
nter
estormeager
eamount
sAs
Sal
ary.
Thi
sisbasi
cal
l
ywhatwedoi
nFor
ex.
..

Thi
sisnott
henor
mal
mar
keti
nOshodi
orI
dumot
aorAccr
amal
lthatYouBuyandSel
lCl
othes.

Forsomet
hatwoul
daskwhatar
eyouBuy
ingandSel
l
ing.

NowaskYour
sel
f..
..
.Di
dyouuset
hat2Mi
l
li
onNai
rat
odoanyBusi
ness.
?

Theansweri
sNOYoupr
act
ical
l
ydi
dnot
hing,Whatj
usthappenedr
ightt
her
ewasFor
ex.

Ul
ever
agedont
hef
luct
uat
ionsi
nthePr
iceofDol
l
art
oNai
rat
omakey
our
sel
fMoney
.

Wi
thoutDoi
ngany
thi
ng.
,Uj
ustsatathomewhi
l
etheFor
eignExchangemar
ketdi
dthej
obf
orU.

Ihadt
osi
tdownt
oty
pet
hisanal
ogyi
nthel
owestt
ermst
hatev
ery
onecanunder
stand.

Wit
hti
mei
twoul
dgetcl
ear
er.
.ButIhopey
oual
lar
ehav
ingani
deaofhowwemakemoneyi
n
For
ex

SoI
ntheabov
eAnal
ogy
..

Uwoul
dnot
icet
hatudi
dn'
treal
l
yBuyorSel
lanyr
eal
commodi
tyt
omakemoney
.

Ut
ookadv
ant
ageoft
hechangei
nExchanger
atet
omakemoney

*
STAGE2*

❇WHATI
SAPI
P

❇CONCEPTOFBI
DANDASKPRI
CE

❇WHATI
SASPREAD

❇FORMSOFTRADI
NGORDERS

❇CONCEPTOFTAKEPROFI
TANDSTOPLOSS

❇LEVERAGE

❇LOTSI
ZE

❇RI
SKMGT
❇COMMONMI
STAKESBYTRADERS

❇TRADI
NGPLAN

❇MT4I
NTERFACEPART2

[
09/
04,
15:
46]:
SoI
nSummar
y

Wehav
eseent
hatWeBuyWhenweknowAcur
rencyPai
r*woul
d*Ri
se

AndweSel
l

WhenweknowaCur
rencypai
r*woul
d*f
all

TheBi
gQuest
ioni
s*_
howdoweknowwheni
twoul
dri
seandwheni
twoul
dfal
l
_*

[
09/
04,
15:
46]:
Thati
sWhatTechni
cal
Anal
ysi
swoul
dtel
lyou

Candl
est
icks

Fi
bonacci

El
l
iot
twav
es

I
ndi
cat
ors
 Pi
votpoi
ntet
c

Wear
egoi
ngt
her
e

Justf
oll
owmest
epbyst
ep

[
09/
04,
15:
46]:
Wear
eSt
art
ingwi
tht
heTopi
c

*
WHATI
SAPI
P*

PIPI
STHEBEDROCKOFEVERYTHI
NG,
IREPEATEVERYTHI
NGWEAREGOI
NGTOBEDOI
NGI
N
FOREX.

[
09/
04,
15:
46]:
Sowhydi
dyouBuy*
USD/
NGN*

I
Ntheabov
escenar
io

UBought*
USDNGN*becausey
ouknewbef
orehandt
hatt
hev
alue*
Woul
d*Ri
se

Takenot
e*Woul
d*

[
09/04,
15:
46]:Formostcur
rencypai
rsi
nFor
ex,
West
artCal
cul
ati
ngt
hepi
psf
rom t
he*
4th
deci
malpl
ace*

Howev
ert
her
ear
efewexcept
ions.
.
Wewoul
dst
artwi
tht
hegener
alones,
bef
orewegot
otheexcept
ions

[
09/04,15:
46]:Ify
oumissthe*
ConceptofPi
ps*her
e,bel
i
evemey
ourf
oundat
ioni
sgoi
ngt
o
beshakyal
lthr
oughyourFor
exj
our
ney.

Cur
renci
esar
egaugedi
npi
ps,Tr
adeor
der
sar
epl
acedi
npi
ps,Pr
ofi
tsar
ecal
cul
atedi
npi
ps.

Pr
act
ical
l
yev
ery
thi
ngwear
edoi
ngi
nFor
exi
nvol
vesPi
ps.

Sot
akey
ourt
imet
ounder
standt
hisv
eryI
mpor
tantt
opi
c.

[
09/
04,
15:
46]:
Let
'snowgett
ohowt
oCal
cul
atei
t

Thi
siswher
eIneedmaxi
mum concent
rat
ionf
rom Ual
l

.
.

I
fyouar
edi
str
act
edbef
orenow,
pleasest
ayf
ocusedf
rom nowonwar
ds

[
09/
04,
15:
46]:
TODAYMARKSTHEREALBEGI
NNI
NGOFYOURFOREXJOURNEY

I
FYOUHAVENOTBEENFOCUSEDBEFORE,
PLEASESTARTFROM TODAY.

ALLWHATWEHAVEBEENDOI
NGSI
NCEI
SINTRODUCTI
ON,
TODAYWEARESTARTI
NGTHE
MAINFOUNDATI
ON

[
09/
04,
15:
46]:
Let
'snowf
ir
eon
API
Pist
hesmal
l
estuni
tinwhi
chaCur
rencypai
rcanchange.

I
tcanal
sobesaidtobeastandar
dizeduni
tandt
hesmal
l
estamountbywhi
chacur
rencypai
r
i
nfor
exmarketcanchange

[
09/
04,
15:
46]:
Soi
fUSDCADwhi
chi
scur
rent
lyat“
1.4098”

Makesamov
eof1pi
p

I
t'
snewv
aluewoul
dbecome1.
4099

[
09/
04,
15:46]:A*
pip*i
sauni
tofmeasur
ementusedt
oexpr
esst
hechangei
nval
uebet
ween
t
wocur
renci
es.

I
f*EUR/
USD*mov
esf
rom *
1.1050*t
o*1.
1051*
,that*
.0001USD*r
isei
nval
uei
s*ONEPI
P.*

*
Api
pisusual
l
ythel
astdeci
mal
placeofapr
icequot
e.*

[
09/
04,
15:
46]:
Let
'sgoal
i
ttl
ebi
thi
gher

Iwoul
dgi
veguy
sassi
gnment
sfory
oual
ltopr
act
icet
ooaf
tert
oday
'sCl
ass

Assumi
ngwewer
enowt
oldt
hatGBPAUDmadeamov
eof*
10pi
ps*f
rom 2.
0370

Wewouldasusual
addt
hef
igur
e10f
rom t
he4t
hpl
aceddeci
mal
numberandwewoul
dhav
e
ournewval
ueas
2.
0370>>>>2.
0380

Let
'snowseet
hel
ongmet
hodagai
n

[
09/
04,
15:
46]:
It'
sjustl
i
ket
he*
CELL*ofFor
ex

Thoughasugof
urt
her
,Uwoul
dlear
nthatt
her
ear
esmal
l
erv
ersi
onscal
l
edmi
cropi
ps.
.

Butl
et'
snotgetany
thi
ngcompl
i
cat
edf
ornow

[
09/
04,
15:
46]:
Fort
hel
ongmet
hod

Si
nceIwast
oldt
hatt
heMar
ketmadeamov
eof2pi
ps.

Remembert
hator
igi
nal
l
y

It
oldy
ouguy
sthat1PI
Pfora4deci
mal
placecur
rencypai
ris0.
0001

Sot
hemov
emadebyGBPAUDi
s2pi
ps

Iwoul
dhav
e

0.
0001*2=0.
0002

Iwoul
dnowaddt
his0.
0002t
otheor
igi
nal
val
ueof2.
0370
Wewoul
dnowhav
e

2.
0370+0.
0002=2.
0372

*
Sameanswer
*wi
tht
heabov
e

[
09/
04,
15:
46]:
Cur
rencymov
esgener
all
yinFor
exar
emeasur
edandcal
cul
atedi
npi
ps

Sohowdi
dIget1.
4099?
?

Iadded1t
othe4t
hdeci
mal
placednumbert
her
eandi
tincr
easedf
rom "
8"t
o"9"

[
09/
04,
15:
46]:
Let
'sseet
hatsecondexampl
eabov
ewher
eGBPAUDmov
edby2pi
ps

Nowf
rom t
hatv
alueof2.
0370

Itol
dthatGBPAUDmadeamov eof2pi
ps(
remembert
hesear
ejustt
ent
ati
veassumpt
ions,
just
tomaket heLect
urescl
ear
er)

Sol
etsf
ir
eon

Whatwoul
dmyanswerbe,
ifGBPAUDmakesamov
eof2pi
ps?
Iwoul
dsi
mpl
yadd2t
othe4t
hdeci
mal
placeof2.
0370

AndIwoul
dhav
emyansweras

2.
0372

Let
'sseet
hel
ongmet
hod

[
09/
04,
15:
46]:
Sobef
oreIst
art,
Letmer
epeat

ThePi
pisbei
ngcal
cul
atedst
art
ingf
rom t
he4t
hdeci
mal
place.

Soi
gnor
ethatnumbersuper
scr
iptbesi
deal
lthepai
rs.

[
09/
04,
15:
46]:
Int
hef
ir
stmet
hod

Wej
ustdi
rect
lyadded1

Tot
hel
astdeci
mal
placednumberoft
hatv
alueof1.
4098

Andwei
mmedi
atel
ygot1.
4099

[
09/
04,
15:
46]:
LETSSTARTWI
TH*
JPYPAI
RS*

ForJPYpair
sEgUSDJPY.
..
..Thepi
psCal
cul
ati
onstar
tsfr
om t
he2nddeci
mal
placedi
git
.Ify
ou
noti
cethati
t'
snotupt
o4decimalpl
acel
i
keother
sthatwedi
dbefor
e..
.
Let
'sseesomeexampl
es

[
09/04,
15:
46]:Nowf
ormostcur
rencypai
rsi
nFor
ex.
..
.Thepi
pCal
cul
ati
on,st
art
sfr
om t
he4t
h
deci
malpl
ace.

Nowt
her
ear
esomecur
rencypai
rst
hatar
enotupt
o4deci
mal
place.

Someoft
hem hav
especi
fi
cway
sofCal
cul
ati
ngt
hem .

Exampl
eoft
hosepai
rsar
e

JPYpai
rs

Eg

USDJPY

EURJPY

GBPJPY

AUDJPY

NZDJPYet
c

Anot
herpopul
arExampl
eisGol
d

i
e

XAUUSD

[
09/
04,
15:
46]:
*Usi
ngt
hel
ongmet
hod*

Themov
emadewas*
10pi
ps*
Remembert
hat1PI
P=0.
0001

So10pi
pswoul
dbe

0.
0001*10=0.
001

(
not
icet
hezer
osr
educed)

Sot
ogett
henewv
alueofGBPAUDwehav
e

0.
001+2.
0370=2.
0380

*
sameanswer
*

Iknowsomeonewoul
dask,Si
ncet
heshor
tcuti
seasy
,Whyt
eachust
hisl
ongmet
hod

Aswegohi
gher
,itget
smor
ecompl
i
cat
edespeci
all
ywi
thnumber
sthatar
enotr
oundnumber
s

Wewoul
dseet
hatsoon

[
09/
04,
15:
46]:
*Let
'sgot
othel
ongmet
hod*

Fort
heLongmet
hod,y
oushoul
dtakenot
ethat
ForJPYpai
rs

1PI
P=0.
01

Nol
onger0.
0001,
li
kewesawf
orot
hergener
alpai
rs

[
09/
04,
15:
46]:
SoLet
'suset
heLongmet
hodt
oSol
vet
heexampl
eabov
e..
.

Remembert
hatf
orJPYpai
rs

1pi
pequal
s0.
01

Hencef
rom t
heabov
eexampl
e,si
ncei
tmadeamov
eof2pi
ps.

Wehav
e

0.
01*2=0.
02

Addi
ng0.
02t
otheOr
igi
nal
figur
e,i
twoul
dnowbecome

108.
44+0.
02=108.
46

*
sameanswer
*asabov
e

[
09/
04,
15:
46]:
Let
'snowgett
othel
astexcept
ionwhi
chi
sGol
d
Byseei
nghowt
oCal
cul
atepi
psonGol
dieXAUUSD

Gol
disr
epr
esent
edasXAUUSD

Because,
ift
heChemi
cal
For
mul
aforGol
dint
heper
iodi
ctabl
eisAU

SosomeBr
ooker
swr
it
eitasXAUUSDi
nst
eadofGol
d

[
09/
04,
15:
46]:
Let
'sgoal
i
ttl
ebi
thi
gher

Assumi
ngUSDJPYmadeamov
eof10pi
psf
rom t
hatVal
ueof108.
44

Thenewv
aluebysi
mpl
yaddi
ng10f
rom t
he2nddeci
mal
placenumberwoul
dbe

108.
54

*
Usi
ngt
hel
ongmet
hod*

ForJPYpai
rs1PI
P=0.
01

Hence0.
01*10=0.
1

Addi
ng0.
1tot
heor
igi
nal
val
uewenowhav
e

108.
44+0.
1=108.
54
*
sameanswer
*

[
09/
04,
15:
46]:
Iusual
l
yCal
l*Gol
d*MyBoss.
..

TheVol
ati
l
ityi
sthehi
ghest
..

I
tcanmov
e1000pi
psonagoodday

Onl
yGol
dcandot
hat

[
09/
04,15:
46]:
From t
hati
mageofUSDJPYabov
e..
.It
'scur
rent
lyat*
108.
44*aspoi
ntedatby
t
hearr
ow

Fr
om t
hatVal
ue.
..I
fitmakesamov
eof2pi
ps.

TheNewv
aluewoul
dbeat*
108.
46*

Howdi
dwegett
his

West
art
edaddi
ng"
2"t
otheseconddeci
mal
placenumberwhi
chi
s"4"andi
tincr
easedt
o"6"

That
'showwegot*
108.
46*

[
09/
04,
15:
46]:
*Let
'sgett
otheLongbutaccur
atemet
hod*

ForGol
d1pi
pmov
e=0.
1

Hencef
ort
hat2pi
pmov
e,wehav
e
0.
1*2=0.
2

Addi
ngt
his0.
2tot
heor
igi
nal
val
ueof1620.
08

Wehav
e

0.
2+1620.
08=1620.
28

[
09/
04,
15:
46]:
Let
sGoHi
gher

Assumi
ngXAUUSDmadeamov
eof5pi
psf
rom t
hatsameVal
ueof1620.
08

I
twoul
dbeasf
oll
ows

ForGol
d1pi
pmov
e=0.
1

Hencef
ort
hat5pi
pmov
e,wehav
e

0.
1*5=0.
5

Addi
ngt
his0.
5tot
heor
igi
nal
val
ueof1620.
08

Wehav
e
0.
5+1620.
08=1620.
58

[
09/04,15:
46]:Yest
erdaywediscussedext
ensi
vel
yonPi
psandsawWhatisapi
pandhowt
o
Cal
culat
epipval
uesamongv ar
ioustypesofcommonl
ytr
adedCur
rencypai
rs

[
09/
04,
15:
46]:
Fort
heexampl
eonewegav
ewher
eUSDCADmov
ed1PI
P.

Theact
ual
cal
cul
ati
oni
s0.
0001*1=0.
0001

Ther
efor
eyouadd0.
0001wi
thy
ourcal
cul
atort
othator
igi
nal
val
ueof1.
4098

Sowehav
e.

1.
4098+0.
0001=1.
4099

Useet
hatt
hismet
hodl
ooksl
onger
,thoughi
t'
sther
eal
wayofdoi
ngi
t

Assi
gnment1

I
fAUDUSDatacur
rentpr
iceof0.
6583makesamov
eof10pi
ps,
whatwoul
dbei
tsNewv
alue

Assi
gnment2

I
fUSDJPYatacur
rentpr
iceof110.
06makesamov
eof20pi
ps,
whatwoul
dbei
tsNewv
alue
Assi
gnment3

I
fXAUUSDatacur
rentpr
iceof1641.
00makesamov
eof5pi
ps,
whatwoul
dbei
tsNewv
alue

*
CONCEPTOFBI
DPRI
CEANDASKPRI
CE*

Thati
showBankmakest
hei
rMoney
.

Theyj
ustmade#200,
000pr
ofi
tfr
om U.

I
njustaspaceof24hour
s.

Thati
swhyBankswoul
dal
way
sbeKi
ngov
ert
hemasses.

Theycont
rol
thef
lowofmoney
.

Andwoul
dal
way
scont
inuet
oli
vei
nBi
ghousesandDr
iveBi
gcar
sandpayt
hewor
ker
speanut
s.

[
09/
04,
15:
46]:
From t
heI
mageabov
euwoul
dseesomet
hingl
i
ke

*
USDCAD*.1.
40981.
4100
1.
4098.I
sthe*
BidPr
ice*

Whi
l
e

1.
4100.I
sthe*
ASKPr
ice*

]:
Let
'snowgett
owhatt
heymean

*
BIDPRI
CE*I
STHEPRI
CETHATBUYERSAREWI
LLI
NGTOBUY

WHI
LE

*
ASKPRI
CE*I
STHEPRI
CETHATSELLERSAREWI
LLI
NGTOSELL

Wr
it
ethosedef
ini
ti
onsdown.

Wewoul
dbr
eaki
tdownnow

Fr
om Gol
dpai
rthatIl
abel
l
edabov
e..
.Thepr
icei
scur
rent
lyat1620.
08

.
..
.i
fitmakesamov
eof2pi
ps.
TheNewv
aluewoul
dbe1620.
28

Howdi
dwegett
his?
?

Asusualusi
ngt
heshor
tcutmet
hodweadded"
2"t
othe1stdeci
mal
placenumberwhi
chi
sthe
f
igur
e"0"

:
Let
'ssayur
ecei
ve$10,
000,
fr
om af
ri
endabr
oad.

Anduwal
kint
oaBankt
oexchangei
t, Bankwoul
dtel
lyout
hatt
hel
atestCBNr
atei
slet
'ssay
#350.

Sot
heywoul
dgi
ve#3.
5Mi
l
li
onNai
raasequi
val
entt
othe$1,
000

Let
'ssayt
henextday
..

Uwal
kint
othatsameback.

Uhadanemer
gencyandy
ouneededt
otr
avel
abr
oadandy
ouar
erequest
ingf
orsame$10,
000.

Theywoul
dnowt
ell
yout
hatt
hei
rownBankr
atei
s#370

Soy
ouwoul
dnowhav
etopay#3.
7Mi
l
li
onf
orsame$10,
000

I
nthissi
tuat
ion,
#350herei
stheBi
dprice,whi
l
e#370i st
heAskpr
ice.
]:Todaywear
egoi
ngt
o
beansweri
ngthequest
iont
hatmanyofyouwereaski
ngmeviamyDM befor
e

Whyar
ether
e2pr
icesbesi
deeachquot
e.
UknowIalway
stel
lyouguy
sthatIl
i
keTeachi
ngi
nst
epst
hatwon'
tov
erl
oady
ouwhoi
s
l
ist
eni
ng.

Asweappr
oachthatar
eawewouldt
ackl
eitandyouwouldunderst
andi
tbet
ter
:Asusual
,I
woul
dusewhati
shappeni
ngar
oundustoexpl
aint
heseconcepts.

Ial
way
sli
kesi
mpl
i
fyi
ngt
hingsf
ormyst
udent
s.

Forexisnotmeanttobehar
d,i
t'
speopl
ethatt
ryt
omakei
tcompl
exsoast
omonopol
i
zet
he
businessfort
hemselv
es.

Sot
hemeani
ngoft
hisabov
eist
hatwheny
oupl
aceaBUYORDERi
nFor
ex

I
twoul
dact
ivat
efory
ouusi
ngt
heAskpr
ice

(
remembert
hatt
heAskpr
icei
sthePr
icet
hatSel
l
ersar
ewi
l
li
ngt
oSel
ltoU,whoi
stheBuy
er)

Whi
l
einr
ever
se

Wheny
oupl
acea*
SELL*ORDERi
nFor
ex

I
twoul
dact
ivat
efory
ouusi
ngt
heBI
Dpr
ice

(rememberthatt
heBIDpri
ceist
hePri
cet
hatBuy
ersar
ewil
li
ngtoBuyfr
om U,whoi
sthe
Sell
er)
:Rememberfrom t
heexampl
eIgav
eabove370Nai
rawastheAskandi
t'
sbi
ggert
han
theBidpri
cewhichwas350Nair
a

*
SoAl
soi
nFor
ex.
..TheAski
sal
sohi
ghert
hant
heBi
dpr
ice.
..
*

Justl
i
kewesawi
ntheexampl
eabov
e:

USDCAD. 1.
4098. 1.
4100

Let
'scomebackt
oFor
ex

I
nFor
ex,
theBi
dandAskpr
icewor
ksameway
.

Howev
ernotasexuber
antast
heoneBanksexpl
oituswi
th.

Thedi
ff
erencebet
weent
hese2i
nfor
exi
sjusti
npoi
nts

SoTheBi
dPr
icei
sthatpr
icet
hatBuy
ersal
soi
nFor
exar
ewi
l
li
ngt
oBuywhi
l
e
Askpr
icei
sthepr
icet
hatt
heSel
l
ersar
ewi
l
li
ngt
osel
l
.

Her
eBuy
ersandsel
l
ersar
enothumanbei
ngs.

I
t'
sthemar
keti
nthi
scase.
.

YouBuyf
rom t
hemar
ketandSel
ltot
hemar
ket
.

[
09/
04,
15:
46]:
Let
'sr
elat
eitt
oourexampl
eofbanksabov
e

I
ntheExampl
eIgav
eabov
e,

Wheny
oubroughty
our$10,
000t
otheBank,
Uar
ethesel
l
eratt
hati
nst
antwhi
l
etheBankwas
t
heBuyer
.

Sot
heygav
eyout
hei
rBi
dpr
iceof#350.

Becauset
hati
sthepr
icet
heyar
ewi
l
li
ngt
oBuy

Whi
l
einr
ever
se

Wheny
oucamebackt
henextdayt
haty
ouwantt
otr
avel
foranemer
gency

Unowbecamet
heBuy
er(
nol
ongert
heSel
l
er)

Uneededt
oBuydol
l
arst
oTr
avel
urgent
ly.

Nowt
heBanki
nthi
scasebecamet
heSel
l
er.

Sotheygav
ey out
hedol
l
arsatt
heirAskpr
icewhi
chi
sthepr
icet
hatSel
l
ersar
ewi
l
li
ngt
oSel
l
(r
emembertheyar
enowthesel
l
ers)
[
09/
04,
15:
46]:
Thati
swhy
,theywoul
dnev
erwanty
out
olear
nFOREX.

BecauseForei
gnExchangei
ssoLi
qui
dthati
tcanchangey
ourFor
tunear
oundi
njustf
ew
weeksofTradi
ng.

Howev
ert
hisMonopol
yofknowl
edgei
sbei
ngci
rcul
atedamongt
heEl
i
tes

[
09/
04,
15:
46]:
Let
'snowmov
etot
henextconceptRel
atedt
othem

*
WHATI
SASPREAD*

*
SPREAD*i
sthedi
ff
erencebet
weent
heBI
DandASKpr
ice.

[
09/
04,
15:
46]:
Int
heexampl
eIgav
eabov
e.

TheSpr
eadi
s#370-#350=#20

TheSpr
eadi
s20Nai
ra.

Thati
sthepr
ofi
toft
heBanks.

SoalsoinForex,
theSpr
eadi
sthepr
ofi
toft
heBr
ooker
s,howev
eri
nthi
scase,
it'
sver
ysmal
l
becauseit
'smeasuredi
npi
ps.

[
09/
04,
15:
46]:
TakePr
ofi
tandSt
opLossar
eFor
msofMar
ketor
der
s
Let
'sst
artwi
th*
TAKEPROFI
T*

[
09/
04,
15:
46]:
Rememberi
nFor
exwear
eal
way
sdoi
ng2t
hings.

Buy
ingandSel
l
ing

Let
'st
akeascenar
iowhenwear
eBuy
ingandgi
veanexampl
e

[
09/
04,
15:
46]:
TheSpr
eadv
ari
esbet
weenTr
adi
ngSessi
ons.

Whent
heVol
ati
l
ityi
shi
ghandmanymar
ket
sar
eopenatt
hesamet
ime.

Thespreadi
sal
wayssmal
l(meani
ngt
hatyoupayBanksl
essercommi
ssi
ons)
,thati
sanot
her
advant
ageofTr
adi
ngwhenmanymarket
sareopen

Howev
erwhenonl
yonemar
keti
sopenort
heVol
ati
l
ityi
slow,t
hespr
eadsar
eal
way
sbi
gger

[
09/
04,
15:
46]:
Sot
hati
showt
heSpr
eadwor
ks.

Wewoul
dmov
etoanot
heri
mpor
tantt
opi
ctoday

*
TAKEPROFI
TANDSTOPLOSS*

[
09/
04,
15:
46]:
So

*
TAKEPROFI
T*i
saFor
m ofmar
ketor
der
.
Thatt
ell
syourBrokert
oCl
oseyourTradeforYouandLocki
nyourPr
ofi
twheny
ourTr
ade
movesacertai
nnumberofPi
psinyourdesir
eddir
ecti
on.

Ev
eni
fyouar
enotonl
i
ne

[
09/
04,
15:
46]:
Asat
rader
,Uwoul
dnotal
way
sbeonl
i
nemoni
tor
ingal
lyourTr
ades.

I
t'
snotasi
fweFxTr
ader
s,j
ustgetaseatandst
ayi
nfr
ontofourl
apt
opsal
lday
.

Someofy
ourt
radesmayst
ayov
ert
heNi
ght
,somemayl
astf
or2day
s.

AndUmayhaveadat
ewit
hy ourBabe, Uhav
eChampi
onsLeaguetowatch,UrFr
iendsthat
j
usthammer
edononebi
gtradeishost
ingaPart
y,Uev
enhaveyourworktogotoifyouarea
worker
.

Soy
ouhav
emanyengagement
s

That
'swher
eMar
ketor
der
scomei
ntopl
ay

[
09/
04,
15:
46]:
Let
'ssayuent
eredacur
rencypai
r

Let
'scal
li
tAAA/
BBB

And.I
t'
scur
rent
lyat$40

Andf
rom y
ourTechni
cal
orFundament
alAnal
ysi
s.
Uf
oundoutt
hati
t*woul
d*soonr
ise

Soy
oui
mmedi
atel
yopenedy
ourMT4andCl
i
ckedon*
BUY*

[
09/
04,
15:
46]:
Andy
ourTar
getpr
ofi
tfort
hispar
ti
cul
arTr
adei
sjust50pi
ps.

Udon'
twantt
obeGr
eedy
.

Li
keIal
way
stel
lmySt
udent
s,Nev
erbeGr
eedyi
n.For
ex.

El
i
minat
eGr
eed,
Pickt
hel
i
ttl
eUcanandmov
eon.

Ev
eni
fyoucan'
tmake$100dai
l
y.

Ev
eni
fit
'sonl
y$50,
umakedai
l
y.

Mybr
otheri
naweekt
hat
's$50*
5=$250(
#90,
000)

Whopay
su#90Ki
naweek.

I
t'
sgoodf
orast
artandabegi
nner

Wi
tht
ime,
uupgr
adet
o$100dai
l
y

That
's$500weekl
y

(
#180,
000)
Soy
ougr
owgr
adual
l
y

[
09/
04,
15:
46]:
Sol
et'
sfi
reon

Let
'ssayuent
eredacur
rencypai
r

Let
'scal
li
tAAA/
BBB

And.I
t'
scur
rent
lyat$40

Andf
rom y
ourTechni
cal
orFundament
alAnal
ysi
s.

Uf
oundoutt
hati
t*woul
d*soonr
ise

Soy
oui
mmedi
atel
yopenedy
ourMT4andCl
i
ckedon*
BUY*

[
09/
04,
15:
46]:
Sot
hati
showTPwor
ks.

Oncey
ouseti
tatt
hatpar
ti
cul
arpr
iceony
ourMT4,
whet
hery
ouar
eonl
i
neornot
.

I
tcl
osest
heTr
adef
orUandLocksy
ourpr
ofi
t.

Let
'snowOpenourMT4,
toseewher
etosetourTPoni
t.

Sot
hatwecanal
soseepr
act
ical
exampl
eusi
ngReal
pai
rs
[
09/
04,15:
46]:Assumi
ngIwantt
oBuyUSDCADatt
hatCur
rent*
ASKPRI
CE*of1.
4100seeni
n
t
heimageabov
e

AndIwantaTakePr
ofi
tof30pi
ps.

WhatIwoul
djustdoi
stoAdd30pi
pst
othatFor
merv
alueof1.
4100andIwoul
dhav
e

*
1.4130*

Ihopeever
yoner
emember
edourpi
pscal
cul
ati
onofy
est
erday
..
..Thi
siswher
ewear
egoi
ngt
o
beusingi
t

[
09/
04,
15:
46]:
OpenYourMT4.
..

Cli
ckonthei
conpoi
ntedatbyt
heRedar
rowf
rom anypageuar
ecur
rent
lyont
otakeut
oyour
*char
ts*

ThenCl
ickontheiconpoint
edatbyt
hePur
plear
rowt
otakeut
oanot
herpagewher
eyouwoul
d
seewheret
oinputinyourTP

[
09/
04,
15:
46]:
Andy
ourt
argetf
ort
hisTr
adei
sjust50pi
ps

Udon'
twantt
obegr
eedy
.

Fory
out
osetaTar
getpr
ofi
tat50pi
ps

Uaddi
ttot
hepr
iceuent
ered,
whi
chwas$40
Soy
ourTPwoul
dbeat$90

Soany
time,
thecur
rencypai
rAAA/
BBBSt
art
sCl
i
mbi
ngandReaches$90

Evenify
ouarenotonli
ne,YourMT4t
hroughy
ourBr
oker
’sser
verwoul
dcl
osetheTr
adef
ory
ou
automati
cal
l
yusi
ngy ourMT4andaddthe$50pr
ofi
ttoy
ouraccounti
mmedi
atel
y

[
09/04,
15:
46]:
Let
'st
akeaAust
ral
i
anDol
l
ars/Uni
tedSt
atesDol
l
arsatt
heCur
rentAskPr
iceof
0.
6013

Let
'ssayIwantt
oBUYt
hepai
randIwantaPr
ofi
tof50pi
ps.

Formet
ogetaTPof50pi
psf
rom t
hatt
rade

Iwoul
dneedAUDUSDt
ori
set
o0.
6063(
0.6013+50pi
ps)

HenceIwoul
dgot
omyTPboxandt
ypei
n0.
6063

WhenAUDUSDr
isesto0.6063,
myBr
okerwoul
daut
omat
ical
l
ycl
osemyTr
adef
ormeandadd
myprof
itt
omyaccount
.

[
09/
04,
15:
46]:
SoMyTPf
ort
hatt
radewoul
dbe

1.
4130

Iwoul
dgoi
ntot
hatTPboxspaceandt
ypei
tin.

SoI
mmedi
atel
ytheCur
rencypai
rri
sesdur
ingi
t'
susual
fluct
uat
ionsandget
sto1.
4130
MyBr
okerwoul
dimmediat
elyCl
oset
heTr
adef
orme,Whet
heram onl
i
neornotandt
henAdd
myPr
ofi
ttomyaccount
.

(
Not
icet
hatIused*
Askpr
ice*becauseIwasBuy
ing,dur
ingSel
l
ingwewoul
duseBi
d)

Let
'sseeanot
herexampl
e

[
09/
04,
15:
46]:
Thespacel
abel
ed*
A*i
swher
eyoui
nputy
ourSTOPLOSS.

Whi
l
e

Thespacel
abel
ed*
B*i
swher
eyoui
nputy
ourTAKEPROFI
T

[
09/
04,
15:
46]:
InSel
l
ingaCur
rencypai
ratt
heFor
exMar
ket
.

Uar
eSell
ingaft
erUhav
efoundoutf
rom y
ourTechni
cal
orFundament
alAnal
ysi
sthatt
hePr
ice
*
would**
Fall
*

Hopewer
emembert
hat

Soast
hePr
icei
sfal
l
ing,Uar
emaki
ngmoney
.

Thi
sist
heOpposi
teofBuy
ing

[
09/
04,
15:
46]:
Rememberi
nBuy
ing,
wear
emaki
ngr
efer
encet
otheAskpr
icenott
heBi
dpr
ice

That
swhywearemaki
ngr
efer
encet
o0.
6013andnot1.
6011(
theot
herpr
iceont
hel
eftwhi
ch
i
stheBi
dpri
ce)
SoWhenAUDUSDr
isesandget
sto0.
6063(
whi
chwoul
dbea50pi
psmov
e)

MyBr
okerwoul
dcl
oset
heor
derandKeepmypr
ofi
tsi
nmyFor
exaccount
.

[
09/
04,
15:
46]:
SoHav
ingseenwher
etoI
nser
ttheTakePr
ofi
t.

Let
'snowdosomepr
act
ical
Exampl
esofhowt
oCal
cul
ateTakepr
ofi
t

[
09/
04,
15:
46]:
SoLet
'sgett
othe*
SELL*SCENARI
O

Let'
sFocuscl
osel
yfr
om her
eonwar
ds,
thi
siswher
epeopl
eal
way
sgetconf
usedandask
questi
ons

Howev
erencourageyour
sel
fthati
fpeoplewhodidn'
tev
engot
oschool
aret
radi
ngf
orexand
doi
ngthebasi
caddit
ionandsubtr
act
ionsthaty
outoocandoi
t

Sol
et'
sfol
l
owcl
osel
yfr
om her
e

[
09/
04,
15:
46]:
Soi
mmedi
atel
ythePr
iceFal
l
sfr
om $100t
o$55.

TheBr
okerwoul
daddy
our45pi
pspr
ofi
ttoy
ouraccount
.

That
'st
hebeaut
yofFor
ex,Umakemoneybot
hway
s.

Whet
heraCur
rencyi
sRi
singorFal
l
ing,
it'
snoneofy
ourbusi
ness.

Uj
ustent
eri
nther
ightdi
rect
ionandmakey
ourbar
[
09/
04,
15:
46]:
SoI
mmedi
atel
yPr
iceFal
l
stot
hatLev
el.

YourBr
okerwoul
daut
omat
ical
l
yaddy
ourpr
ofi
tforU.

Soi
nsummar
ywehav
eseent
hatWhi
l
eBuy
ingourTPi
sup

Howev
eri
nRev
ersewhi
l
e

Sel
l
ingOurTPi
sbel
owt
hepr
ice

Sowewoul
dst
opher
efort
oday
.

Wewoul
dcont
inuef
rom wher
ewest
oppedf
rom t
mrw

IWoul
dDr
opAssi
gnment
sthatYoual
lwoul
duset
oPr
act
iceanddr
opt
heAnswer
sont
hepage.

[09/
04,
15:
46]:
Letmegi
veanot
hert
ent
ati
veexampl
e,bef
oreweuseReal
char
tsandsee
exampl
e

[
09/
04,
15:
46]:
Let
'snowseePr
act
ical
Exampl
es

Let
'ssayaf
terourAnal
ysi
s..
.

Wef
oundoutt
hatEURCHFwoul
dfal
l
.
Sowedeci
dedt
oShor
t(Sel
l
)EURCHFpai
r.

Remembernowwear
eint
erest
edi
nthe*
Bidpr
ice*becausewear
eSel
l
ing.

Andt
heBi
dPr
icei
scur
rent
lyat1.
0556i
nthei
mageabov
eandIwantandIwantaTPof60pi
ps.

Whatwoul
dbet
hev
alueofmyTP.

Her
ebecausewear
eexpect
ingi
ttof
all
.

OurTPwoul
dbebel
ownotabov
e.

Sosubt
ract
ing60pi
psf
rom 1.
0556

Wehav
e1.
0496

HenceIwoul
dinput1.
0496i
ntot
hesameTPbox,
weusedwhenwewer
ebuy
ing.(
SameTPbox
i
susedbothwhenuarebuyi
ngorsel
l
ing)

SowhenEURCHFf
all
sandr
eaches1.
0496,
myBr
okerwoul
daut
omat
ical
l
ycl
oseandaddmy
pr
ofi
tforme

[
09/
04,
15:
46]:
Let
'sseeanot
herexampl
e..
.

Let
'ssayt
hataf
terMyAnal
ysi
s.
EURweakenedbecauseofaBadNewsandIwantt
oShor
t(Sel
l
)EURJPY.
..

AndIonl
ywantaTPof40pi
psf
rom t
hatcur
rent*
Bidpr
ice*of117.
14

Takenot
e:Bi
dpr
ice,
becausewear
esel
l
ing

Whatwoul
dmyTPbe?

Iwoul
djustsubt
ract40pi
psf
rom t
hatcur
rentBi
dpr
icebecauseI
'
m sel
l
ingandIwoul
dget
116.
74

HenceIwoul
dinput*
116.
74*i
ntot
heTPbox.

Whenpr
iceget
sther
e,MyPr
ofi
tswoul
dbeaut
omat
ical
l
yaddedt
omyaccount
s

[
09/04,15:
46]:*STOPLOSS*i
sanot
heri
mpor
tantf
orm ofMar
ketor
der
,whi
chi
sli
ket
he
opposi
teoftheTakePr
ofi
tor
dert
hatwesawy
ester
day.

HereUaregi
vi
ngy
ourBr
ookerandI
nst
ruct
iont
oCl
osey
ourt
radewhent
hemar
ketwant
stogo
agai
nsty
ou.

[
09/
04,
15:
46]:
Assi
gnment1

Assumi
ng,
wewantt
oBuyEURUSDf
rom t
hecur
rentaskpr
iceof1.
1024andIwantaTPof45
pi
ps.

Whatwoul
dbemyTPv
alue
Assi
gnment2

Assumi
ng,
wewantt
oBuyUSDCADf
rom t
hecur
rentaskpr
iceof1.
3405andIwantaTPof60
pi
ps.

Whatwoul
dbemyTPv
alue

Assi
gnment3

Assumi
ng,
wewantt
osel
lUSDJPYf
rom t
hecur
rentbi
dpr
iceof107.
89andIwantaTPof40
pi
ps.

Whatwoul
dIi
nputi
ntheTPbox

Assi
gnment4

Assumi
ng,
wewantt
osel
lNZDUSDf
rom t
hecur
rentbi
dpr
iceof0.
6255andIwantaTPof35
pi
ps.

Whatwoul
dIi
nputi
ntheTPbox

THEGROUPWOULDNOW BEOPENSOTHATEVERYONECANSTARTDROPPI
NGTHEI
R
ANSWERS

[
09/
04,
15:
46]:
Let
'ssayIwantt
oBuyGBPJPY.
.

Att
hatAskpr
iceof133.
98.

AndIwantaTPof40pi
psandIdon'
twantt
oloosemor
ethan5pi
ps.
Whatwoul
dbenowbemyTPandSL

MyTPwoul
dbeat134.
38

(
ieaf
teraddi
ng40pi
pst
othecur
rentpr
ice)

AndmySL

Woul
dbeat133.
93

(
aft
erSubt
ract
ing5pi
ps,f
rom t
hecur
rentpr
ice)

Iwoul
dnowt
ypei
nbot
hint
otheTPandSLBoxr
espect
ivel
y.

[
09/
04,
15:
46]:
Let
'ssayIwantt
oBuyaCur
rencypai
rnamedAAA/
BBB.
..
..
..

Andt
hepr
icei
sCur
rent
lyat$40

AndwantaTPof50pi
ps

(
SoIwoul
dsetmyTPat$90,
wesawt
hispar
tyest
erday
)

Nowaft
erset
ti
ngmyTP,Iwoul
dalsotel
lmyBroker
,thatl
ookMrManI
'
m Buy
ing,
soIwantmy
t
radet
obeopenonl
ywhenthepri
ceisgoingup.

Thati
fthepr
icet
ri
est
ogodownbyl
et'
ssaymor
ethan10pi
ps,
ClosemyTr
adef
orme.

Soy
ouonl
ywantt
ost
ayi
nthet
radewhent
hepr
icei
sgoi
ngup.
NowUgav
eyourBr
okeraSt
op-
lossor
derof10pi
ps.

Remembert
hei
nit
ial
pri
cewas$40,

Sof
oraSt
op-
lossof10pi
ps.

Ushoul
dseti
tat$30,Soanyt
imethepri
cerev
ersesandstar
tsfal
li
ngwit
houty
ourknowl
edge,i
f
i
tget
sto$30.Yourt
radewouldcl
oseforu,pr
eventi
ngfur
therl
osses,ev
enify
ouarenotonl
ine

[
09/04,
15:
46]:
Nowl
et'
sgett
ohowt
oCal
cul
ateSt
op-
lossi
ntheopposi
teScenar
iowhi
chi
s
Sel
l
ing.

Fol
l
owcl
osel
yfr
om her
e,soasnott
ogetconf
used,
takey
ourt
imet
ounder
standi
t.

Rememberi
nSel
l
ing,
Uar
eonl
ymaki
ngmoneywhent
hepr
icei
sFal
l
ingl
i
kewesawy
est
erday
.

[09/
04,15:
46]:Marketi
salwaysgoi
ngupanddownandsomet
imesaNewsmaypopupand
swaythemarketi
ntheopposit
edir
ect
ioni
nwhichy
ourTr
adewasplanned,Butwi
thaSt
op-
l
ossorder.

I
mmedi
atel
ythemar
ketwant
stochangeandgot
heopposi
tedi
rect
ion,

YourBr
okerwoul
dcl
oset
heTr
adef
ory
out
hroughy
ourMT4,
eveni
fyouar
enotonl
i
ne.

Let
'sseewher
etoputt
heSt
op-
lossor
deri
nourMT4

[
09/
04,
15:
46]:
Let
'ssayIwantt
oBuyaCur
rencypai
r

CCC/
DDD
Andt
hepr
icei
sat$100

AndIwantaTPof40pi
psandaSt
op-
lossof5pi
ps(
meani
ngIdon'
twantt
oloosemor
ethan5
pi
ps)

MyTPwoul
dbe$140

Whi
l
emy
.St
op-
lossshoul
dbeat*
$95*

Soany
timet
hepr
icewant
stof
all
,andi
tfal
l
sby5pi
psf
rom $100t
o$95

MyBr
okerwoul
daut
omat
ical
l
ycl
osemyTr
adef
orme.

Pr
event
ingmef
rom f
urt
herl
oss,Ev
eni
fyouar
enotonl
i
ne.

TechnologyofMT4hasmadeForexsoi
nter
est
ing,Ucont
rol
howmuchy
ouear
nandal
sohow
muchy oudon'twannal
oosei
ncasemar
ketrev
erses

Let
'sseesomer
eal
exampl
esnow

[
09/
04,
15:
46]:
Let
'sseeanot
herexampl
e
Let
'ssay
,Wewantt
oBuyUSDCADandwewantaTPof50pi
psandaSLofj
ust10pi
ps.
..

Fr
om t
hatAskpr
iceof1.
4100

OurTPwoul
dbeat1.
4150(
ieaf
teraddi
ng50pi
pst
othecur
rentAskpr
ice)

Whi
l
eourSLwoul
dbeat1.
4090(
aft
ersubt
ract
ing10pi
psf
rom t
hatsameAskpr
ice)

Soy ounowgototheTPboxandt
ypei
n1.
4150andgot
otheSLboxbyi
tsl
eftandt
ype1.
4090,
thencli
ckonBuyButt
on.

Oncepricet
riest
ofall
inst
eadofr
isi
ngandfal
l
sto1.
4099,t
heMT4woul
daut
omat
ical
l
ycl
ose
yourt
radesforu,ev
enifyouar
enotonl
ine.

[
09/
04,
15:
46]:
Got
othesamePl
ace,wher
ewesawwher
etoputi
nTP,y
est
erday
.

TheBoxi
nthet
woscr
eenshot
slabel
ed*
A*i
swher
eyout
ypei
nyourSt
opLoss.

Thef
ir
stscr
eenshoti
sforI
OSuser
.Whi
l
ethesecondi
sforAndr
ioduser
s

[
09/04,
15:
46]:
SoLet
'ssayIwantt
oSel
lCur
rencypai
rTTT/
UUUandt
hepr
icei
scur
rent
lyat
$80.

AnduwantaTPof50pi
ps.

Rememberher
euar
esel
l
ing,
soy
ourTPi
sal
way
sbel
ow,soy
ousetI
tat$30.(whi
chi
s50pi
ps
bel
owt
hei
nit
ial
pri
ceof$80)

Nowlet'
sgett
oSt
op-
loss,Whi
l
eSel
l
ing,
Udon'
twantt
hepr
icet
ori
se(
thatwoul
dbegoi
ng
agai
nstU)

Sof
orSel
l
ing,Usety
ourSt
op-
lossabov
ethepr
ice.

I
ncasei
fitt
ri
est
ori
se,
Uar
etel
l
ingy
ourBr
ookert
ocuty
ouof
fthemar
ket
.

Soassumi
ngIdon'
twantt
oloosemor
ethan5pi
ps.

Iwoul
dnowsetMySt
opl
oss5pi
psabov
ethei
nit
ial
pri
ceof$80

HencemySt
op-
losswoul
dnowbeat$85.

I
fyounot
icet
hisi
sexact
lyt
heopposi
teofwhatwedi
dwhi
l
eBuy
ing

Whi
l
eBuy
ing,
OurSLwasbel
owt
hepr
ice,
Nowi
t'
sabov
ethepr
ice

[
09/04,
15:46]:Let'
ssayIwantt
oSel
lEURJPY(EUROVsJapaneseYen)att
hecur
rentBi
dpr
ice
of*
117.78*becauseIknowi
twouldf
all
soonfr
om myAnal
ysis.

AndIwantaTPof53pi
psandIdon'
twantt
oloosemor
ethan5pi
ps.

Whatwoul
dbemyTPandSL?
MyTPwouldbeat*
117.
25*(
aft
ersubt
ract
ing53pi
psf
rom t
hatcur
rentBi
dpr
icebecauseIam
sel
l
ingwhi
l
e,

MySLwoul
dbeat*
117.
83*af
teraddi
ng5pi
pst
othecur
rentBi
dpr
iceof117.
78)

Not
icet
hatIam usi
ngBi
dpr
iceher
eandnott
heAskbecausewear
eSel
l
ing

[
09/
04,
15:
46]:
Let
'sseeanot
herexampl
e

Let
'ssayIwantt
oSel
lCur
rencyGGG/
HHH

andt
hepr
icei
sCur
rent
lyat$100

AndIwantaTPof60pi
psandIdon'
twantt
oloosemor
ethan10pi
ps.

MyTPwoul
dnowbeat$40.(
bel
owt
hecur
rentpr
icebecauseI
'
m sel
l
ing)

Whi
l
emySt op-
losswoul
dbeat$110(
abov
ethemar
ketpr
ice,becauseIdon'
twantt
oint
he
mar
ket
,ift
hePairwant
stor
ise)

Let
'sseer
eal
exampl
esnow
[
09/
04,
15:
46]:
OurNEXTt
opi
cis

*
LOTSI
ZE*

*LOTSIZE*i
stheamount/quant
it
yofaTr
adet
hatuboughtorSol
d.I
t'
ssomet
imescal
l
edy
our
Posi
ti
onsize/Tradesi
ze

[
09/
04,
15:
46]:
SoPi
psCal
cul
ati
oni
sbasi
cal
l
yst
rai
ghtf
orwar
dify
oul
ear
nhowt
oCal
cul
atei
t

I
t'
snotRocketsci
ence ,
Justbasi
cal
l
yAddi
ti
onandSubt
ract
ion.

Justnot
ewheny
ouar
eBuy
ingorSel
l
ing

[
09/
04,
15:
46]:
Wewoul
dMov
eont
oanot
herI
mpor
tantt
opi
cfort
oday
.

TheSecondQuest
iont
hatmanypeopl
ehav
ebeenaski
ng.

HowmuchdoIuset
ost
artFor
ex.
,OrhowmuchdoIuset
omakeapar
ti
cul
ardai
l
ytar
get
.

Af
tert
hisTopi
c,Uwoul
dhav
eaBet
terUnder
standi
ngofhowMoneyi
smadei
nFor
ex

[
09/
04,
15:
46]:
Let
's.Seeanot
herex
ampl
e
Let
'ssaywewantt
oSel
lAUDUSD.
..
..
duet
oweakeni
ngofAust
ral
i
andol
l
ars

AndweareSel
l
ingf
rom t
heCur
rent*
Bid*pr
iceof0.
6079.
(t
akenot
eBi
dpr
icebecausewear
e
sel
l
ing,
)

AndIwantaTPof40pi
psandaSLofj
ust10pi
ps.

Wher
ewoul
dbemyTPandSL?

MyTPwoul
dbeat0.
6039(
iesubt
ract
ing40pi
psf
rom t
heBi
dpr
iceof0.
6079)

Whi
l
etheSLshoul
dbeat0.
6089(
aft
eraddi
ng10pi
pst
othecur
rentBi
dpr
iceof0.
6079)

[
09/
04,
15:
46]:
InFor
exMar
ket
,theseCur
renci
esar
enotBoughtandSol
dsi
ngl
y.

Theyar
eboughtandSol
dinPackscal
l
edLot
sizes.

Thati
swhatmakesthegai
nappr
eci
abl
e,i
fnoty
ourpr
ofi
tinFor
exwoul
dhav
ebeen$0.
0001or
somethi
ngl
iket
hat
.

Butbecauseubuyt
hisCur
rencyi
nBul
k/PacksknownasLot
size.That
'swhyt
hegai
nis
appr
eciabl
e.

Let
'sseet
het
ypes

[
09/
04,
15:
46]:
*SoI
nSummar
y*
Whi
l
eBuy
ingy
ourTPi
sabov
e(becausey
ouwantt
hepr
icet
ogoup)

whi
l
eyourSt
opLossi
sbel
ow(
becausei
fitst
art
sgoi
ngdown,t
hat
'sagai
nsty
ourt
radepl
an)
.

I
NREVERSE

Whi
l
eSel
l
ing,
YourTPi
sbel
ow(
becausey
ouwantt
hepr
icet
ofal
l
)

Whil
eyourSt
opl
ossshoul
dbeabov
e(becausei
fitst
art
sgoi
ngup,
that
'snoty
ourt
radepl
an
agai
n)

WEWOULDDOSOMEASSI
GNMENTS,
LATERATTHEENDOFTODAYSLECTURE

[
09/
04,15:
46]:
*STANDARDLOT*CONTAI
NS*
100,
000*UNI
TSANDI
SREPRESENTEDONMT4
BY*1.
0*

*
MINILOT*

CONTAI
NS*
10,
000*UNI
TSANDI
SREPRESENTEDONMT4BY*
0.1*

Whi
l
e

*
MICROLOT*CONTAI
NS*
1,000*UNI
TSANDI
SREPRESENTEDONMT4BY*
0.01*
[
09/
04,
15:
46]:
THEREAREBASI
CALLY3TYPESOFLOTSI
ZES

❇*
STANDARDLOT*

❇*
MINILOT*

❇*
MICROLOT*

Let
'snot
ethem down

[
09/04,
15:
46]:AsUsual
Iwouldal
way
suset
hingsar
oundy
ou,
toexpl
aincompl
exmat
ter
sof
For
extoUsoastomakeitsi
mpler
.

Let
'sassumeWehav
e3Tr
ader
sA,BandCt
hatdeal
sonJeansWear
s .

Uknowf
ort
hem t
omakePr
ofi
t,t
heycan'
tj
ustbuysi
ngl
epai
rsofj
eansf
rom t
heWhol
esal
er.

Theyneedt
oBuyt
heseJeansi
nBundl
esf
ort
hepr
ofi
tmadet
obeappr
eci
abl
e.

ThoseBundl
esar
eWhatweCal
l*LOTSI
ZES*

Now
Assumi
ngTr
aderAbuy
s100,
000bundl
esofJeans

And

Tr
aderBbuy
s10,
000bundl
esof Jeans

Whi
l
e

Tr
aderCbuy
sjustonl
y1,
000bundl
esof Jeans.

Uwoul
dagreewi
thmethatTraderAwoul
dmakemor
emoneyt
hanTr
aderB,whowi
l
lint
urn
makemor
emoneythanTraderC.

Andwhatdetermi
nedhowmanyBundl
esof Jeanst
heyboughti
stheCapi
tal
theyI
nvest
edi
n
theBusi
ness.

Thati
saTy
pical
il
lust
rat
ionofLot
siz
es

[
09/04,
15:
46]:Iwoul
dshowuwher
etoi
nputt
hem onMT4soon,Let
'sj
ustexpl
ainwhateach
oft
hem means

Si
tti
ght

[
09/
04,
15:
46]:
*LEVERAGE*

Lev
eragei
stheabi
l
ityt
ousesomet
hingsmal
ltocont
rol
somet
hingbi
g.

I
nthecaseofFor
ex,
usi
ngasmal
l
erCapi
tal
Baset
ocont
rol
alar
gerl
otsi
ze
[
09/
04,
15:
46]:
For*
STANDARDLOTSI
ZE*

1PI
P=$10

For

*
MINILOTSI
ZE*

1PI
P=$1

WHI
LE

FOR

*
MICROLOTSI
ZE*

1PI
P=$0.
1

Let
'snot
ethem down

[
09/
04,
15:
46]:
Int
heI
ll
ust
rat
ionabov
eTr
aderAboughtSt
andar
dLot
size

Whi
l
eTr
aderBboughtMi
niLot
size

Whi
l
e

Tr
aderCboughtMi
croLot
size
Let
'snowseet
hePi
pEqui
val
entofeachl
otsi
ze

[
09/
04,
15:
46]:
SoI
f3

Tr
ader
str
adesaCur
rencypai
r.

And3oft
hem made50pi
ps.

Let
'ssayTr
aderAt
raded1St
andar
dLot
sizseoft
hepai
r

Whi
l
eTr
aderB,
traded1Mi
niLot
sizeoft
hepai
r

Andt
heLastTr
aderC,t
raded1Mi
croLot
sizeoft
hepai
r.

Tr
aderAwoul
dmake50pi
ps*$10=$500

Tr
aderBwoul
dmake50pi
ps*$1=$50

Whi
l
e
Tr
aderCwoul
dmake50pi
ps*$0.
1=$5

Soeventhought
heyst
il
lpart
ici
pat
edi
nthesamet
radeandt
hemar
ketmov
edi
nthei
rdi
rect
ion
fort
hesameamountofpips.

Therepr
ofi
tswer
edi
ff
erentbecauset
heamountoft
hatpar
ti
cul
arCur
rencyt
heyboughtwas
di
ffer
ent

Ibel
i
evet
hisconcepti
snowcl
ear
.

[
09/
04,
15:
46]:
Thi
sledt
othePr
oli
fer
ati
onofFor
exBr
oker
s

NowFor
exBrokershadsomanyCust
omer
sar
oundt
heWor
ldt
hatTheycoul
dsol
vet
hatSi
ngl
e
pr
obl
em ofCapi
talForUs.

NowthoseWor
ldBankset
crequi
resacer
tai
namountofMoneyf
orsomeonet
obeabl
eto
Tr
adewith.

ButBecauseBr
okershavePul
l
edmanyamountofmoneyt
oget
her
,Wear
enowal
l
owedt
o
Tradet
hroughourBroker
s.

Soinst
eadofanindi
vi
dualTradi
ngwith1mi
l
li
onDol
l
ars,Ucanact
ual
l
ypl
aceATr
adewi
thas
Li
tt
leas$10becauseudidntgoalone.
Uwentt
othemarkett
hroughy
ourBr
oker,
whoi
srecogni
zedbyt
heWor
ldBankasa
f
ormi
dabl
efor
ce.

Becausei
thasal
argecapi
tal
Base.

Ibel
i
evet
hissi
mpl
eil
l
ust
rat
ioni
sunder
stood.

[
09/04,15:46]:
Tounder
standt
hisConceptofLev
erage,
let
'st
akeabr
iefhi
stor
yofhowFor
ex
wasini
tial
l
y

I
nit
ial
l
yinFor
ex, i
t'
snotany
onet
hati
sal
l
owedt
oTr
adeFor
ex.

Justasweseecur
rent
lyi
nNewYor
kSt
ockexchange.

For
exar
eonl
ytr
adedbypeopl
ewecal
ltheKabal
s.

*
MENOFWALLSTREET*

Usual
l
yInv
est
mentBanks,Ri
chMen,
Monar
chs,
BigBusi
nessMen,
Companyowner
set
c

[
09/
04,
15:
46]:
*ForAndr
iod*

TheBoxont
heRi
ghtl
abel
edbyt
hel
ett
er*
B*i
sthespacef
ori
nput
ti
ngi
nyourTP.

Whi
l
ethespaceont
heLef
tisf
orput
ti
ngi
nyourSt
opl
osswhi
chwewoul
dseenext

[
09/
04,
15:
46]:
NowSt
il
lont
heI
ssueofCapi
tal
.
Let
'sdi
scussanot
herTopi
cthatmakesusgai
nsomuchwi
thsuchaLi
tt
leCapi
tal

*
LEVERAGE*

[
09/
04,
15:
46]:
Nowl
etmet
akeNewYor
kSt
ockexchangef
orexampl
e

ForUt
otr
adei
nTheFl
oorofNewYor
kSt
ockexchange

Ushoul
dbemaki
ngaSpeci
fi
camountofMi
l
li
onsofdol
l
arsperanum

Ushoul
dn'
tbeowi
nganyMor
tgage

YourTaxdocument
sar
eupt
odat
e

Wi
thsomanyusel
esscr
it
eri
asj
ustt
oli
miti
ttot
heEl
i
tes

[
09/
04,15:
46]:
Sot
hat
'swhyUneeda*
Wri
tt
en*Tr
adi
ngpl
anbef
orey
ouki
ckof
fyourFor
ex
j
our
ney

Takenot
eoft
hatwor
dwr
it
ten

Uneedt
owr
it
eitdown

[
09/
04,
15:
46]:
Soal
soi
twasi
nFor
ext
hen

CommonMenl
i
keUandMewoul
dn'
thav
ebenef
it
edf
rom t
hisLucr
ati
vebusi
ness.

Nowduri
ngthei
nventoft
heInt
ernet
,Thewor
ldbecameaGl
obal
Vil
l
age,
int
hatUcanBuyand
Sel
lfr
om any
wher
earoundtheWorld

[
09/04,
15:46]:
Iwoul
dshar
ewi
thUal
l
,Myper
sonal
Tradi
ngPl
ant
hatInor
mal
l
ygi
vemy
St
udents
Thi
sPl
anshoul
dbel
i
keaGui
de,
sot
hatUcanusei
ttof
ormy
our
s.

I
tmusn'
tbeexact
lyl
i
kemi
ne,
howev
eri
t'
sjustaGui
de

[
09/
04,15:46]:
Whi
l
efor
mingy
ourpl
ans,especi
all
yyourt
arget
s,makei
treal
i
sti
cdependi
ngon
y
ourcapacit
y

BecauseIsetmyt
argetat$100perdayoranot
herper
sonset
shi
sat$500perday
.

Thatshoul
dnoti
nfl
uencey
our
s

Al
way
smakei
treal
i
sti
c

[
09/
04,
15:
46]:
*MYTRADI
NGPLAN*

❇Iwoul
dear
n100%ofmyt
radi
ngequi
tyi
n1mont
h

❇Iwoul
dsetaneart
erm goalandmakeatl
east25%makeatl
east25%ofmyt
radi
ngCapi
tal
in
1weekandIwoul
dplott
histargetdai
l
y

❇IfIam behi
ndmyt
radi
ngpl
anf
ort
hequar
ter
;Iwoul
dtakeabr
iefbr
eakt
ore-
eval
uat
emy
t
radingsyst
em.

❇Iwoul
dnott
rademor
ethan3mar
ket
sperday(
iemor
ethan3cur
renci
espai
rs)

❇IfIhav
emorethan4loosi
ngt
radesi
nar
ow,
Iwoul
dtakeat
radi
ngbr
eakof2day
sto
r
eaccesstheMar
ket.

❇Anyt
imeItakeabr
eak,Iwouldcloseloosi
ngtr
adessetpr
otect
ivestopsonaWinni
ngtrades
andTPatr
easonabl
etar
gets;shouldIbeunavai
labl
eandMarketgetstomyTar
getlevel
.

❇Iwouldtake70%outofmyaccountandi
nvesti
nnonFxr
elat
edbusi
ness(
li
keReal
est
ate)
andr
einvest30%.

❇Iwoul
drecor
dmydai
l
ytr
adeact
ivi
ti
esi
nmyt
radi
ngl
ogandr
evi
ewt
hem weekl
y.

❇Iwouldknowmyr
ati
osandr
esul
tsandwoul
dwor
ktoi
mpr
oveont
hem byatl
east5%per
week.

❇Iwoul
dinv
est4hour
saweekt
oupdat
emyKnowl
edgeonFor
exandl
ear
nnewTr
adi
ng
St
rat
egi
es

[
09/
04,
15:
46]:
Inev
ery
thi
ngUdoi
nli
fe,UneedaPl
an

Ther
eisasay
ingt
hatwhenonef
ail
stopl
an,Uar
epl
anni
ngt
ofai
l
.
[
09/
04,
15:
46]:
Sol
et'
sst
artwi
thTr
adi
ngPl
ans

*
TRADI
NGPLAN*

[
09/
04,
15:
46]:
Nexti
sthatUneedt
ofol
l
owt
hispl
anj
udi
ciousl
y.

Nev
ert
ryt
oadj
usti
ttosui
tyourpr
esentmar
ketcondi
ti
onsorbi
ases

MostTr
ader
snegl
ectt
hisVi
tal
aspectofFor
ex.

Al
sowhi
l
efor
mingy
ourpl
an,
itneedst
obe

SMART

SPECI
FIC

MEASURABLE

ACHI
EVABLE

REALI
STI
C

TI
MEBOUND

Youneedt
ofact
oral
ltheabov
eint
oconsi
der
ati
on

Iwoul
dwantevery
one,togetaPaperandwrit
eitdown.Isai
dwr
it
eitdownbecause,
Uwoul
d
tendt
ounder
standeachconceptasyouscr
ibblei
tdown

[
09/
04,
15:
46]:
Theabov
eisasummar
izedv
ersi
onofmyTr
adi
ngPl
an

I
tshowst
hesal
i
entpoi
ntsi
nthepl
an

Ipr
int
edthi
soutandpast
edonthewal
lnearmyTr
adi
ngdesk,
becauset
hemor
eyoul
ookati
t,
Uwouldbemoreobli
gedtof
oll
owthepl
an

[
09/
04,
15:
46]:
Nexti
sthati
t'
simpor
tantt
oal
way
srev
iewy
ourpl
an

I
fyoul
ookatt
hesecondpoi
nti
nmypl
an
Rev
iewi
tweekl
y

i
eatt
heendoft
heTr
adi
ngweek

[
09/
04,
15:
46]:
Thenasunowgr
owi
nFor
ex,
Ucannowi
ncr
easey
ourcapi
tal
.

Hencei
ncr
easi
ngy
ourdai
l
ytar
get

At
imewoul
dcomet
hatuwoul
dn'
tdependony
oursal
aryagai
nforany
thi
ng.

Soal
way
sst
arti
tst
epbyst
ep.
..
.Wi
tht
imeu'
l
lgett
her
e

[
09/
04,
15:
46]:
Checky
ourTr
ansact
ionhi
stor
yfort
heweek.

Hav
eyouachi
eved1/
4thoft
hispl
an.

Wher
ear
eyoucur
rent
lyandwhatpar
tofy
ourt
argeti
sremai
ning

Thatwoul
dinf
luencey
ourTr
adi
ngf
ort
heupcomi
ngweek

[
09/04,15:46]:
Maybei
fyouar
efew$behi
ndy
ourt
argetandy
ouanal
ysedonl
y2cur
rency
pai
rslastweek.

Umi
ghtaddonecur
rencypai
rthi
sweekt
omakei
t3andmaxi
misey
ourpr
ofi
ts

[
09/
04,
15:
46]:
Themai
nai
m ofFor
exi
nthi
sear
lyst
agei
stosuppor
tyournor
mal
expenses.
Somet
hingt
omakeunotdependonsal
aryal
one

I
fyoucanhi
tyourt
argetof$100i
naweek.

I
namont
hthat
's$400.

Whi
chisal
most144K(
around2000Ghanacedi
s)andi
t'
smor
ethansomepeopl
e'
ssal
aryi
na
mont
h

[
09/
04,
15:
46]:
Iff
orast
art
,Umake$20perday
,bel
i
evei
t'
sagoodst
art

Foral
i
ttl
ecapi
tal
of$100t
o$200,
Ucansetupy
ourt
argetat$20t
o$40perday
.

I
naweek,
mybr
othert
hat
's$100t
o$200.

That
'sequi
val
entof36kt
o72Ki
naweeki
nNai
ra

Ar
ound500t
o1000Ghanacedi
s

[
09/
04,
15:
46]:
Wit
hthi
sucansuppor
tyour
sel
fandy
ourf
ami
l
y

Whet
heruar
einschool
,doi
ngadayj
obori
ntobusi
ness.

I
tsanaddi
ti
onal
sour
ceofi
ncomet
oev
ery
one

[
09/
04,
15:
46]:
Maybe,
usetat
argetof$100perday(l
et'
sassumeuhav
eacapi
tal
of$500)
.
Theny
ouhav
eal
readymade$99.
2.

SomeofyourFxcol
l
eaguesj
ustcal
l
edy
out
hatDonal
dTr
umpj
ustpul
l
edt
hepl
ugonI
randeal
thaty
oushoul
dBuyBrentOi
l

Andy
oui
mmedi
atel
yrushbacki
ntot
hemar
ket

[
09/
04,
15:
46]:
Inst
eadofwai
ti
ngf
ort
henextTr
adi
ngdayasi
fthemar
ketwon'
tcont
inuet
mrw

[
09/
04,15:
46]:SoUmustel
i
minat
ethatf
act
orofGr
eedwhi
l
efor
mul
ati
ngort
ryi
ngt
ost
ickt
o
y
ourTr
adingpl
an

Byt
aki
ngt
hemar
ket
,sl
owandst
eady
.

Uwoul
dal
way
sbecomf
ort
abl
ewi
thf
orex

SoIbel
i
eveev
ery
onewoul
duset
hisweekwear
eent
eri
ngandf
ormul
atet
hei
rownTr
adi
ngPl
an

[09/04,15:
46]:Af
terf
ormingthepl
an,Ucanchatmeupt
ohelpU.Rev
iewitori
fyouhav
eany
clar
ifi
cati
onwit
hanyaspectoftheTempl
ateIgav
ewhi
chudon'
tunder
stand

Li
keIsai
d,i
t'
saMent
orshi
pPr
ogr
amme,notj
ustaSemi
nar
.

HenceIwoul
dal
way
sbet
her
etoof
ferany
oneGui
deandSuppor
t

[
09/
04,
15:
46]:
Nomat
terhowgood,
umi
ghthav
eanal
ysedt
hemar
ket
.

Youmaynotknowwhenamajornewswoul
dberel
easedandi
tcoul
dchangethedir
ect
ionof
themar
ket.(
that
'swhyi
t'
sal
waysgoodt
olookatt
heEconomi
ccalendarbef
oret
hebeginni
ng
ofev
eryweek)
.

Butbyset
ti
ngy
ourSt
op-
loss,nomat
tert
henewswhet
heri
t'
sagai
nsty
ourdi
rect
ion,
Uwoul
dbe
prot
ect
ed

[
09/
04,
15:
46]:
Let
'smov
eont
othenextt
opi
c

*
COMMONMI
STAKESMADEBYTRADERS*

Anot
heri
mpor
tantpr
inci
plei
nli
fe,
ist
olear
nfr
om ot
herpeopl
esmi
stakes

[
09/
04,
15:
46]:
Anot
heri
mpor
tantaspectofoft
hePl
ani
soncey
ouhav
ereachedy
ourt
arget
f
ort
heday
.

Al
way
scl
oseandgoandr
estf
ort
hatday
.

Thecashf
lowwoul
dst
il
lcont
inuet
mrw.

For
exmar
kethasbeenar
oundf
ordecades,
soi
twon'
tcl
oset
hatday
.

Soal
way
stakey
ourbowof
f,whenur
eachy
ourt
arget
.

UGuy
swoul
dnot
icet
hati
mmedi
atel
yIr
eachmyt
arget
,Iwoul
dcl
osef
ort
heday

[
09/
04,
15:
46]:
Aft
erf
ormi
ngt
hePl
an,Ensur
eUwr
it
eitdownorpr
inti
tout(
Ver
yimpor
tant
)

Andpast
eitnearwher
eyout
hink,
Uwoul
dbemaki
ngy
ourTr
adeAnal
ysi
s

[
09/
04,
15:
46]:
Geti
ntot
her
eal
mar
ketandt
radeandAnal
yzewi
thy
ouremot
ionsont
hel
i
ne.
..
That
'smakesy
oust
ronger
.

Dwel
l
ingint
hefantasywor
ldwoul
dmakey
ouf
eel
rel
axedanduwon'
tl
ear
nbecauseuwoul
d
al
wayssayt
oyourself

"
it
'spapermoney
"

[
09/
04,
15:
46]:
Tel
lme,
howcany
oumoni
tor,
al
ltheset
rades

I
tal
lbowsdownt
o*Gr
eed*

Becausey
ouwantt
oGr
abev
erysi
ngl
epi
pint
hemar
ket

Si
ncei
ts$5.
3Tr
il
li
ondol
l
arsl
i
qui
dcap,
uwantt
ogohomewi
thashal
foft
hemar
ketv
olume

Asi
fther
ewon'
tbeanot
hermar
ketday

[
09/
04,
15:
46]:
Nexti
sPapert
radi
ngf
ort
ool
ong

PaperTr
adi
ngi
ssameasDemoTr
adi
ng.
..

Ev
ent
houghi
t'
sgoodt
odemot
rade,butdwel
li
nthef
ant
asywor
ldf
ort
ool
ong

[
09/
04,
15:
46]:
The1sti
sNothav
ingaTr
adi
ngPl
an.
..
..

WhichIhav
eal
readyhi
ghl
i
ght
edabov
eoft
hei
mpor
tanceofPl
anni
ngy
ourTr
adesf
rom dai
l
yto
weekl
ytoMont
hly
[
09/
04,
15:
46]:
Nev
erwai
ttol
ear
nfr
om y
ourownmi
stakes.
.

Thosethathav
egonethi
spartaheadofUwouldt
ell
Uthisar
ewhatpeopl
ehav
edonewhi
ch
di
dn'ty
iel
dpositi
ver
esul
tsandhenceushoul
dmodifyy
ourownact
ions

SoIwoul
dbehi
ghl
i
ght
ingsomeoft
hesemi
stakessoasweal
lshoul
dbewar
yofi
t

[
09/
04,
15:
46]:
Ont
hesesi
tes,
Uwoul
dseei
mpor
tantr
eleasesf
ort
heweek

Nowbefor
e,i
mpor
tantmaj
ornewsev
ent
sli
keNonf
arm Payr
oll
whi
chi
scomi
ngupt
omor
row
(
ie*8t
hofMay*)
.

For
exanal
yst
susedt
orel
ease,
whatwecal
lfor
ecast
s

Thesef
orecast
stendt
ocomei
nthef
orm off
igur
es

WhenmanyForexanal
ystshast
hesamev
alue,
thatv
aluear
ri
veduponbymaj
ori
tyofFor
ex
anal
yst
siscal
l
edconsensus

[
09/04,15:
46]:It
'sbet
tert
oopenmult
ipleposi
tionsononetr
ade(i
eononecurr
encypai
r)and
monit
oritj
udi
ciousl
y,t
hantoopenmul
tiplecur
rencypai
rsanddi
str
acty
ourat
tenti
on

Iwoul
dteach,
Ual
ll
aterhowt
oent
ert
hemar
ketmul
ti
plet
imesonapar
ti
cul
arcur
rencypai
r.

Wecal
li
t"Ri
dingt
heTr
end"

[
09/
04,
15:
46]:
Nexti
snotUsi
ngaSt
opl
oss.
.
Al
way
sremembert
oputi
tinal
lyourt
rades

Technol
ogyhasmadei
tther
etopr
otecty
ouraccount
s

[
09/04,
15:
46]:Thel
astbutnott
hel
east(
aswewoul
daddr
essot
her
sasweencount
ert
hem
wi
thint
hecour
seoft
heTraini
ng)
.

I
sAnt
ici
pat
inghowt
heNewswoul
daf
fectt
hemar
ket

[
09/
04,
15:
46]:
Nexti
s

Openi
ngsomanyTr
ades

Uwoul
dseesomeoneopen

GBPUSD

EURUSD

USDJPY

USDCHF

AUDUSD

AUDCAD

EURJPY

GBPJPY

EURCAD

EURGBP

NZDUSD

Onl
yoneper
son
[
09/
04,
15:
46]:
Sononeedt
ogeti
nqui
ck,
eveni
fit
's40pi
ps,
ucoul
dcat
chi
t'
sOk

Thant
ryi
ngt
ogeti
near
lyandcat
cht
hewhol
e100pi
ps.

I
t'
sal
way
sgoodt
obepat
ientwi
tht
hemar
ket

[
09/
04,
15:
46]:
Rememberwet
alkedaboutFundament
alAnal
ysi
s

Wement
ionedt
hatFundament
alAnal
ysi
sisTr
adi
ngt
hemar
ketusi
ngt
heNews

MT4showsui
mpor
tantNewsr
eleasesi
nit
sNewssect
ion

Ucanal
sousef
orexf
act
ory
.com

dai
l
yfx.
com

i
nvest
ing.
com

my
fxbook.
com

[09/
04,
15:46]:Wehaveseensomeoft
hesedur
ingt
hecour
seofourTr
aini
ngandwewoul
d
seemoreastimegoeson

Howev erasaf
orm ofaGui
de,
Inor
mal
l
ygi
vemyst
udent
saLi
nkt
oav
ideot
owat
cht
hat
expl
ainsmostoft
hese..
.

Howev
erasut
radeandgr
owi
nFor
ex,
uwoul
dhav
eal
ltheseaty
ourf
inger
ti
ps.

[
09/
04,
15:
46]:
BecauseIt
oldy
ouguy
sthat1.
0Lot
sizegi
ves$10perpi
p

And

0.
1Lot
sizegi
ves$1perpi
p
Uwoul
dseesomeonet
ryi
ngt
ogoanduse1.
0Lot
siz
eona$100or$200account

Becausehewant stogetrichover
night
.That'
swhatweCal lOvertr
adingi
nForexAlwayssti
ck
toaLot si
zecommi ser
atetoyouraccount
.Nevergetgreedy
.Themar ketwoul
dalwaysbethere.
Evenifit'
s0.
1, Uarestart
ingwit
h.It'
ssti
l
lOK.Ifyoumake$20dai lyandyoucoul
dn'
treach$30
dail
y.It'
ssti
ll
fair$20dailyi
s$100i naweek.It
'snotbadforastart
erAst
imegoesonu
progressto$70t o$80to$100dail
yetc

Asugoalongi
nthecour
seofy
ourTr
aini
ng,
uwoul
dbeseei
nghowweappl
yal
lthese
pr
act
ical
l
y

Somanytrader
s,woul
dnowgoaheadandstar
tmakingtr
adi
ngdeci
sionswi
tht
hosef
orecast
s
becauset
heywanttogeti
near
lyandmakehugepr
ofit
s.

That
sabi
gmi
stake,
tomake,

Al
way
swai
tti
l
lthemai
nNewsi
srel
easedbef
orer
idi
ngt
het
rend,
creat
edbyt
henews

Wewoul
dlear
nvar
iousSt
rat
egi
esonhowt
otr
adeNonf
arm pay
rol
lsoon

Ont
het
opi
cof*
Riskmgt
*

I
tscomposedofal
ltheset
opi
cswehav
ebeent
eachi
ngi
nthi
sst
age2.

Topi
csl
i
keLotsi
zeSt
opl
oss,Tr
adi
ngpl
an,
Greedel
i
minat
ionet
cIt
'sal
laspect
rum

Sot
hesear
ethecommonmi
stakesmadebyTr
ader
s.

Soit
'sal
way
simpor
tant
,tonot
ethem downandt
ryasmuchaspossi
blet
oav
oidt
hem dur
ing
yourFor
exj
our
ney