Power Forex Profit Principles: SPECIAL NOTE: This Is The March, 2009 Update

SPECIALNOTE:ThisistheMarch,2009update towhatIthinkisoneofthemostpowerful reportsIhaveeverpublished,anditsindirect responsetotherequestsmystudentshave beensendingmeforyears.Theyveessentially beenpleadingwithmetoshowthemhowthey canpotentiallyprofitintheForexmarkets. Heresthedeal:Justlikeanyothermarket, mosttradersarelosingtheirshirtwhenthey tradeForex.Thatsmainlybecausetheyre goingaboutitallwrong,andmanyhavebeen misleadbyunscrupulousindividualsor questionablebrokerspromisingseemingly overnightriches.
. Forexisstillalittlelikethewildwest,so theresnaturallyalotofconfusionand misinformationoutthere.Inthisspecialreport,PowerForexProfitPrinciples,Im goingtocovermanytacticsandstrategiesusedbysuccessfulForextradersall overtheworld.Butunfortunately,onlyabout5to10percentofallForextraders areactuallyawareofthisinformation.Iwouldstronglysuggestyouprintoutthis reportandreaditmorethanonce. GoodTrading,
PowerForexProfitPrinciples
BillPoulos
CopyrightProfitsRun,Inc.
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Pleasetakeafewsecondsandprintthisentirereport rightnow.Hereswhy: Whenyouprintthisreportout,thechancesthat youllactuallyreaditandlearnsomethingnew abouttradingtheForexmarketswillincrease dramatically.Ihaveacollectionofdigitalreports onmycomputer,andtheonlyonesIvereadall thewaythrougharetheonesIveprintedout. Whenyouprintthisreportout,youcanreadit anywhereinyourhouse(orontheroad,forthat matter).Ilovemyfamily,butmyofficeissmack dabinthemiddleofthehouse,soitsahightraffic area.SometimestheonlywayIcangetasolid chunkoftimetoreadsomethingIfindonlineisifI printitoutandtakeitsomewhereelseinthe house. Thereisanactivityinthisreportthatrequiresyou toanswersomequestions.Theimpactofthis activitywillbemuchgreaterifyouactuallygetout apencilorpenandactuallywriteonthisreport.I highlyrecommendyouspendafewmoments completingthisactivity.Yourfuturecoulddepend onit.
PLEASEPRINTTHISREPORTNOW!
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DISCLAIMER:Forex(offexchangeforeigncurrencyfuturesandoptionsorFX)tradinginvolves substantial risk of loss and is not suitable for every investor. The value of currencies may fluctuateandinvestorsmayloseallormorethantheiroriginalinvestments.Risksalsoinclude, butarenotlimitedto,thepotentialforchangingpoliticaland/oreconomicconditionsthatmay substantially affect the price and/or liquidity of a currency. The impact of seasonal and geopolitical events is already factored into market prices. The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited fundsandsuchmayworkagainstyouaswellasforyou.Theuseofleveragecanleadtolarge losses as well as gains. Under certain conditions you may fins it impossible to liquidate a position. This can occur, for example, when a market becomes illiquid. The placement of contingentordersbyyou,suchasstoplossorstoplimitorderswillnotnecessarilylimitor preventlossesbecausemarketconditionsmaymakeitimpossibletoexecutesuchorders.Inno eventshouldthecontentofthiscorrespondencebeconstruedasanexpressorimpliedpromise orguaranteethatyouwillprofitorthatlossescanorwillbelimitedinanymannerwhatsoever. Past results are no indication of future performance. Information contained in this correspondence is intended for informational purposes only and was obtained from sources believedtobereliable.Informationisinnowayguaranteed.Noguaranteeofanykindisimplied orpossiblewhereprojectionsoffutureconditionsareattempted.Revision0620090308.
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100,000Traders&TheirForexFrustrations
DearTrader, Theinformationyouholdinyourhands(orareviewingonyourcomputer)has thepotentialtodramaticallyincreasethepipsyoupulloutoftheForexmarkets, anditdoeshavethepotentialtochangeyourlife.Thatsnothype,becausethe potentialisreal.Itsuptoyoutomakeithappen,andmygoalwiththisreportis tohelpyoudiscoverinhoursanddayswhattookmedecadestorealizeabout successinthemarkets. Ivebeentradingthemarketssince 1974,andIvebeenteachingthousands ofstudentsaroundtheworldwhatit takestosucceedinthemarketssince 2001.Sosomepeoplethinkofmeasa grizzledtradingveteranbecauseIve seensomuchoverthepast3decades. Sure,Ivescrapedmykneesandhave beenthroughafewbumpsandbruises overtheyears,butIseemyselfasafilter foryou,orsomeonewhohastheability tosiftthroughallthejunkandnoise thatsoutthereandtellittoyoulikeit is. So,Imaycomeacrossalittleharshin thisreport,butIdontbelieveinsugar coatinganythingorgivingyoufalse hopesofsuccess.Thereareenough swindlersdoingthatalready.Iwantto giveyouthefacts,likeemornot,soyoureempoweredtotakeactionandmake positivedecisionsonhowtosucceedintheForexmarkets. Foryearsnow,mystudentsandreadershavebeenpleadingwithmetoshow themhowtotradetheForexmarkets.Andmanyofthemactuallytookmystock tradingcoursesandstartedtellingmeaboutallthemoneytheyweremakingby applyingthosecoursestotheForexmarkets.Theyessentiallyprovedtomewhat
TheyNearlyBeggedMetoHelpThem
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Iknewtobetruemarketsaremarkets.TheresnothingmagicalabouttheForex markets,becauseallmarketsareultimatelydrivenbyhumanpsychologyfear andgreedandsupplyanddemand.Sure,everymarkethasitsown peculiarities,butifyouunderstandhowthebasicdriversofhumanemotions work,youcanpotentiallysucceedbiginanymarket. AsIresearchedtheanswerstomystudentsquestionsaboutForex,themoreI realizedthattoomanytradersweregettingsuckeredandtakenbylessthan honestForexbrokers,aswellastheholygrailpeddlerswhowerepreying uponthewideeyeddesperationoftraderswhothinktheycangetrichquick tradingthepopularForexmarkets. Excuseme,butwhatIfoundwasdisgusting.Ifoundmoremisinformation,lies, andhypeaboutForexthatIhadseeninsometime.AndthatswhenIdecidedto putallmyenergyintodispellingthisjunksoIcouldgivemystudentsandreaders asourceoffactual,actual,solid,realisticForexProfitPrinciplesthattheycould usetopotentiallyprofitintheForexmarketsagainandagain. SotomakesureIdidntmissanybigquestionsorconcerns,Isurveyedover 100,000activetradersseveraltimesandaskedthemonequestion: Ifyoucouldsitdownandhavelunchwithme,whatisthetopquestion youwouldaskmeaboutForextrading? Thatsit.Plainandsimple. Almostimmediately,thequestionsbegantopourin.Youknowwhatitslike Mondaymorningwhenyoucheckyouremailandtheresatonofitfromoverthe weekend?Well,itwaslikethatmultipliedbyahundred,orathousand.People wereconfusedmorethanIrealizedaboutForex. Then,morerecently,IaskedasimilarquestionbutthistimeIaskedmyreaders toposttheirreplytomyForexblog.Onceagain,hundredsuponhundredsof commentswereposted.Andtheamazingthingwasthatthecomments, questions,andchallengeswerenearlyidenticaltomypriorsurvey!
IWasShockedandExcited
Quitehonestly,theseresponsesoverwhelmedme.AtfirstIthoughttomyself, HowcanIpossiblyaddressallthesequestions?Theresjustnotenoughtimeto
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doit!ButthenInoticedsomethingamazingIstartedseeingthesame questionsoverandover.SoIbegantoputthemintocategories,andafteralong 12hourday,Iwasshockedandexcited. Why? Well,Iwasshockedtofindthat,indeed, mostofthequestionsfellneatlyintoa handfulofbroadcategories.ButIwas excitedbecauseIhadpersonally experiencedwhatallthesequestions wereasking.AndIknewwithouta shadowofadoubtthatIcouldhelp thesetraders. Butitgetsbetter,becauseIrealizedthat ifasurveyof100,000tradersresultedin acore,commonsetofquestions,then millionsoftradersallaroundtheworld probablyhadthesameconcerns. Sothisreport,thePowerForexProfit Principles,ismyanswertothetop questionsIreceivedfrommyreadersandstudentsaboutForextrading.Now letsgetrightintothenittygrittyandclearupthesequestionsonceandforall. Areyouready?Letsbegin.
AreYouDependentorIndependent?(NEW)
WhenitcomestotradingForex(oranymarket),Ifindtherearetwotypesof traders.Andthetypeoftraderyouarecoulddrasticallyimpacttheamountof moneyyoumakeinthemarketsitcouldevenforeverdetermine,inpart,what therestofyourlifelookslike,howmuchlongeryouworkaregularjob,where yougoonvacation(andhowoften),whereyoulive,andevenyouroverallhealth. Thatmaysoundlikeanexaggeration,butifyouplanonsupplementingor replacingyourcurrentincomewithtradingForex,thenIthinkyoullfindthose statementsabovearequiteaccurate.Hereswhy
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Youreprobablywellawareatthisstageinyourlifethatanythingthatrequires almostlittleornoeffortproduceslimited,temporary,ornonexistentresults.And thatanythingthatrequiresyoutothinkforyourselfproduceslasting,ongoing, andperhapsevenpermanentresults. ThisisespeciallytruewhenitcomestotradingtheForexmarkets. Overtheyears,Iveobservedthattherearetwotypesoftraders.Now,Irealize thesearegeneralizations,buttheyillustratetwoverycommonmindsets.Which oneareyou? TheDependentTrader:Thistypeofpersonisusuallylookingfortheeasyway out,lookingtomakeaquickbuck,orwantstostrikeitrich.Theythinkits possibletofollowthecrowd,blindlyplacetradespumpedoutbyasystemthat cantlose,andquittheirjob.Thebottomlineisthatthistypeoftraderis dependentonsomeoneelsefortheirfinancialsuccessforever,forlife.Yes,The DependentTradercanbesuccessfulwiththisattitude,butIbelievetheoddsof successarelow(probablyaround5%). TheIndependentTrader:Thistypeofpersonwantstohaveasmuchcontrolof theirfinancialdestinyaspossible.Theyunderstandthatwhentheyknowhowthe marketswork,theyreempoweredtoplaceinformedtradeswithouthavingto relyonsomeoneelse.SomeonewhoisanIndependentTraderknowstheyare maximizingtheiroddsofsuccessinthemarkets,whichcanmaketheirfinancial andlifelongdreamscometruethatmuchmorequickly.Thebottomlineisthat thistypeoftraderholdsthekeystothekingdom,andhascontroloftheir financialfuturefortheirentirelife,nomatterwhathappens. IfyouthinkyoumighthavealittleoftheDependentTradermentalityinyou, thatsOK.Iunderstand,becauseyouarenotalone.Itsonlynatural.Butwhen youlearntobreakoutofthatmindsetandmovetowardbecomingan IndependentTrader,everythingcanbegintochange. ThatswhyoneofmygoalswiththisreportistohelpmakeyouanIndependent Trader.Willthisreportalonedoit?No,ofcoursenot.However,itshouldgive youafasttracktowarddiscoveringtherightwaytotradetheForexmarketsfor you. Iwantyoutounderstandandfeelthepower,peaceofmind,andexcitementthat comewithplacingatradeindependently.Everythingmakessense.Everythingis
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doneforareason.Youknowwhattodo,nomatterwhatthemarketdoes.Every singletime. Itsawesome Forexismorepopularthanever.Letstakealookattheaveragedailyturnoverin theForexmarketsoverthepast20years.
TheCurrentStateoftheForexMarket(NEW)
$3.2TRILLIONadayin2007,withnosignsofslowingdown.Thisspells opportunityforyouasaForextrader,andthisisoneofthebesttimesIcanrecall tolearntotradeandtostarttradingtheenormouslypopularandpotentially profitableForexmarkets. Why? Withtheworldsfinancialmarketsinturmoil,megatrendsintheForexmarkets haveseldombeenbetter.Yousee,thepressuresthatarecausingdisruptionin

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thestockmarketsaroundtheworldarealsocausingawesometrading opportunitiesintheForexmarkets. WithForexyoudontneedtowonderwhenthemarketwillstopgoingdownor whenitwillrecoverandhowlongthatwilltake.WithForex,thesixmajorpairs arealmostalwaysupordowninwhatIcallmegatrends,providingtrading opportunitiesrighthere,rightnow. Theproblem,though,isthattoomanytradersarentsurehowtotakeadvantage ofthoseopportunities,orhowtospotthosetradestheycouldbemaking.Orif youhavenevertradedtheForexmarkets,yourewonderingabouthowyou couldparticipate.Oryouarewonderinghowtocontrolriskandgetintoafree tradesituationwhentradingthesemarkets.Ifyourelikemanyindividuals,then youknowyoumustcontrolriskfirstandforemost,butarentsurehowtodo that. Asofthiswriting,theU.S.Dollarhasralliedagainstmostmajorcurrencies,the continuedeconomicfalloutfromthehousing,bankingandcreditcrises,andthe weakeningeconomy,buttheriskofmassivedollarinflationinthefaceofthe unprecedentedU.S.governmentspendingcouldatsomepointsendthedollarin reverse.ButregardlessofwhathappensfromheretheDollarwillcontinueto providegreattradingopportunitiesversustheothermajorcurrenciestimeand timeagainandyoucanbesuresomeonewillberidingalongrunofhundreds,or eventhousandsofpipsasitdoes. Why?Becauseasgovernmentsaroundtheworldscrambletoprovideliquidityto thecreditmarketsandrefloattheeconomies,theywillbedirectlyimpactingthe valueoftheirrespectivecurrenciesastheyrelatetooneanotherwhichthenacts todrivethesixmajorcurrencypairsupordowninverytradabletrends. Economistsandothermediagurusarealltryingtopredictwhatwillhappento theeconomy,whenitwillrecoverandwhenthestockmarketswillrecover.All ofthisisgenerallyunknowable,butForextradersdonthavetowaitfora recovery. Atfirstglance,youmighttakesuchgloomyreportingbythegovernments,the economists,andthemediaandask,WhywouldIwanttotradeinthismarket? Hereswhy:Thoseeconomicdifficultiesaroundtheworldcreatetrading opportunitiesalmostdaily.And,asIsaid,rightnow,theyarecreating
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extraordinaryopportunitiesintheForexmarkets.Whenamegatrenddevelops, youhavetheopportunitytogetonboardandridethetrendandthengetoff beforethetrendreverses.Whichmeansthisisagreattimetobegintrading Forexbecauseyoucouldhavetheopportunitytocatchahugerun. ThisisalsothebesttimetoLEARNtotradeForexbecauseyoucantakeyour tradingmethodasyoulearnitandapplyittothemarketstowatchthose breakoutshappen.Plus,youllbeabletogetarealhandsonexperience understandinghowthosebreakoutsform,whereyouwouldenterandexitthe marketandhowyouwouldprotectyourselfwithproperriskmanagement. So,ifyouvebeensittingonthesidelineswaitingtotradeForex,Ithinknowis oneofthebesttimestobeginortolearntotradeForexbecauseofthegreat trendsdrivenbytheeconomicturmoilintheworld. TheForexmarketsarecreatingtradingopportunitiesrightnow.Ifyouvebeen missingthosemarketmovingopportunities,dontmissanotherone. Ithinkitsimportanttosay,though,thatas Forextradingcontinuestogainpopularity oneoftheunderlyingproblemsyoumayface istheideathatyoumusttradeForextothe minute(ordaytrade)thisdrivesyououtof thepictureifyoucantcommitthatkindof time,anditcreatesinevitablelossesifyoure illpreparedforthedemandsofdaytrading. Ibelievethistalkabouthavingtodaytrade Forexiswrong;thatitis,inpart,drivenby brokers,whoearnthedifferenceinthe spreadoneverytrade,andwhowould naturallywanttheconstantflowofspread profits. CanyoudaytradeForex?Yes.(Ievenhavea ForexdaytradingmethodIteachmy studentswhocanhandleitbutitsnotfor everybody.) Doyouhaveto?Notatall.
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Infact,recentanalysisofpartoftheonlineadvertisingworldconfirmsthat brokersdominateseveralsectorsoftheForexadvertisinglandscape,eventothe pointofdrivingupadcosts.Atfirstglance,thiswouldappearcounterproductive, untilyourealizetheinfluxofhundredsofthousandsofnewtraderstoForexis payingforitselfintheformofnewaccountsandspiralingspreadprofits. WithmorecompaniescomingonlinetoofferservicesrelatedtoForex,youmust takeasmartapproachtotradingcurrencies.Thereisalogicalreasonthatthe numberofbrokersofferingForextradeshasincreaseddramaticallyoverthelast fewyears:brokersaremakingmoneyonyourtrades,whetheryoudoornot. Infact,youshouldrepeatthatlinetoyourself: MyForexbrokermakesmoneywhetherIdoornot. Thisisnottoblamebrokers,butitistopointoutwhatisasimplefact:ifyou,the trader,donottakeaneducatedapproachtotradingForex,youwillloseyour money. ItshouldalsoremindyouthatyouneedtoknowHOWtotradeForex.Youmust haveacompletetradingmethodthathelpsyoutakeadvantageofevery opportunitythemarketoffers. WhileForexpresentsexcitingandprofitabletradingopportunities,itisvery importantthatyoulearnhowtotradecurrenciesandthatyouhaveatrading planthatyoucanexecuteeverydayoftheweeknomatterwhathappensin themarkets. ToomanytradershavejumpedintotheForexwaterswithoutproperplanningor learning,andhavedrowned.Dontbeoneofthem. Instead,beoneofthesuccessfulForextraderswhohaveasolidtradingmethod andexecutetheirtradingplandiligentlytotakemoneyoutofthemarket,again andagain.
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IhearalotaboutForextradingandamvery interestedinlearningmoreaboutit.Canyougive meabriefoverviewofthebasicsofForex?

UnlikestocksandfuturesthattradethroughexchangesortheNASDAQ,Forex tradingisdonethroughmarketmakersthatincludemajorbanksaswellassmall tolargebrokeragefirmslocatedaroundtheworldwhocollectivelymakea marketona24/7basis.TheForexmarketisalwaysopenandisthelargest financialnetworkintheworld(dailyaverageturnoveroftrillionsofdollars). ForextradinginvolvestradingcurrencypairssuchastheEUR/USDpair(Euro/US dollarpair)whereabuyerofthispairwouldactuallybebuyingtheEuroand simultaneouslysellingshorttheUSdollar. TheformatofaForexpairisYYY/ZZZ,wherethefirstcurrencyiscalledthebase currencyandthesecondcurrencyiscalledthecountercurrency.Thepricefor aForexpairisexpressedintermsofthecountercurrency. Forexample,thepriceoftheEUR/USDpairisexpressedinUSdollars(the countercurrency)as1.3667.Thismeansthatthebasecurrency,theEurointhis case,equalsUS$1.3667.ThepriceoftheUSD/JPYpairisexpressedinJapanese Yenas108.02,becauseforthispairtheJapaneseYenisthecountercurrency. Thismeansthatthebasecurrency,theUSdollarinthiscase,equals108.02 JapaneseYen. Pricesareexpressedinpips,whicharenothingmorethantheminimum incrementthatacurrencypairpricecanchange.Forexample,iftheEUR/USD pricechangesfrom1.3790to1.3791,thepriceissaidtohavegoneupby1pip. Mostmajorpairsarepricedto4decimalswhichistheequivalentof1/100thof onepercent.TheexceptionwouldbetheJapaneseYenpairthatonlytradesto2 decimals.Thisisbecausethereareusuallyover100yentothedollar. Forexpairquotesareonabidaskbasis.Thebidisthepricethatthemarketis willingtopayaselleratapointintimeforaspecificcurrencypair.Theaskisthe pricethatthemarketiswillingtoselltoabuyeratapointintimeforaspecific currencypair.Thedifferencebetweenthebidandtheaskiscalledthebid/ask spread.Forexample,atypicalEUR/USDquotecouldbe1.3784bid1.3787ask whichisaspreadof3pips.Sincethespreadishowthemarketmakersare compensated,thereisnocommissionwhenplacingatrade.
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Also,itisimportanttonotethatthespreadwillvarydependingonmarket conditions.SothequoteitselfforanygivenForexpairisthebidask combinationatapointintimebasedonthemarketdrivenfloatingexchange rate.Thequotationliststhebidpricefirst,thentheaskprice.FortheEUR/USD exampleabove,thequotewouldbeexpressedsimplyas1.3784/1.3787or 1.3784/87. Tradingisdoneinlots,either100,000unitstandardor10,000unitminilots.For example,forastandardlotpurchase,iftheEUR/USDquotewas1.3784/1.3787, thenbuyinganEUR/USDpairmeansbuying100,000Eurosandsellingshort $137,870USdollars.Therefore,forastandardlotinwhichtheUSDisthe countercurrency,1pipwillequal$10($1foraminilot).Forothermajorcounter currencypairs1pipwillrangefrom$8to$10. Forexdealersofferleverageashighas100:1andsometimeshigher.At100:1 leverage,1standardlotpairinwhichtheUSDinthebasecurrencywouldrequire $1,000inmargin($100,000/100).Ontheotherhand,a1minilotpairwould requireonly$100inmargin($10,000/100).Iftheaccountvaluefallsbelowthe marginrequirement,thedealerwillcloseoutthetradeautomatically.
HowdotheForexmarkets operateona24hourbasis?
Activetradingsessionsineachcountrysfinancialcentersaroundtheworldtake placefromSunday5:00PMESTtoFriday5:00PMEST.Forthemajorfinancial centers,tradingstartsinSydney,thenmovestoeachfinancialcenterinthis order:Tokyo,London(andEurope),NewYork.Thedailysessionfordaily chartingpurposesendsat5:00PMEST(coincidentwiththeNewYorkclose), butthemarketdoesnotactuallyclose. Herearethetimeintervalsforeachofthemajorfinancialcentersexpressedas EST. Sydneysessionstartsat5:00pmandendsaround2:00am. Tokyosessionbeginsat7:00pmandendsaround4:00am. Londonopensat3:00amandendsaround12:00am. NewYorksessionopensat8:00amandendsaround5:00pm.
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Togiveyouavisualrepresentationofthis,heresafigureshowingthesame businesshoursforthevariousregions.Inthisfigureyoucanseetheoverlap betweentheLondon(andEurope)sessionandtheNewYorksession,between8 amand11amEST.Thecurrencymarketsexperiencethehighestvolatilityand volumeduringthatoverlap,whichalsocoincideswiththereleasesofimportant USeconomicreleases.
Figure1ForexMarketsTimeline
Canyoutakemethroughatypicaltradescenario?
Letssaythecurrentbid/askquoteforEUR/USDis1.3802/05andyouwantto buythepairbecauseyouthinktheEuroisgoingtogainontheUSdollar.Soyou buy1standardlot.Whenyoudothatyouareactuallybuying100,000Euros(1 standardlot)for$138,050USdollars(100,000x1.3805).At100:1leverage,your initialmargindepositwouldbe$1,381forthistrade. Soinourexample,letssaytheEuropairgoesupandisnowtradingat1.3865/68 andyoudecidetosellandtakeprofits.Youwouldthensellyour1standardlot. Whenyoudothatyouareactuallyselling100,000Euros(1standardlot)for $138,650USdollars(100,000x1.3865).Sinceyoubought100,000Eurosfor $138,050andsoldthemfor$138,650,youmadeaprofitof$600or60pips. IfontheotherhandtheEuropairwentdownto1.3775/78andyousoldat 1.3775,youwouldhavealossof$300($138,050$137,750).Andagain,ifthe accountequityfellbelowthemarginrequirement,thetradewouldbe automaticallyliquidated.However,thisshouldneverhappentoyouifyoufollow soundriskmanagementrules.
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WhattypesofordersdoIusewithForextrading?
Therearedifferentordertypesfor differenttradingneeds. MarketOrder:Thisordertypeisusedto enterorexitthemarketimmediatelyat thecurrentquotedprice.Ifyouwantto buyyouwillbefilledattheaskingprice. Ifyouwanttosellyouwillbefilledatthe bidprice. LimitOrder:Thisordertypeisusedto buyorsellapairatapredetermined price.Abuylimitorderwillonlybefilled ifthemarkettrades(ask)atorbelowthe limitprice.Aselllimitorderwillonlybe filledifthemarkettrades(bid)ator abovethelimitprice. StopOrder:Thisordertypeisusedtobuyorsellapairatapredeterminedprice. Abuystoporderwillonlybefilledifthemarkettrades(ask)atorabovethestop price.Asellstoporderwillonlybefilledifthemarkettrades(bid)atorbelow thestopprice.
HowmuchcanIexpecttomakewithForextrading?
Itisveryimportanttohaverealisticexpectations.ThetruthisthatForextrading isnotagetrichquickproposition,despiteallofthehypetothecontrary.That doesnotmeanthoughthatthereisntmoneytobemade. OneoftheappealsofForextradingisthegreatleveragethatisoffered. However,leveragecanworkfororagainstyouandthereforeitiscriticalthatyou followgoodtradingmethodsalongwithsoundriskmanagementprinciplesto havetheopportunitytounlocktheprofitpotentialthattheForexmarketshave tooffer.
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Forexseemstobequitedifferentfrom tradingstocks.Whatarethebenefitsand risksincomparisonandwouldamuch biggeraccountbeneeded?

InadditiontotheForexattributesexplainedinthebasicsofForexquestion above,theForexmarketsareindeeddifferentfromthestockmarketsinthat theirpricebehaviorisdifferentwithusuallymoreabruptpriceswings.This requiresdifferenttradingmethodsthanthosetypicallyusedforstocksinorderto takefulladvantageoftheprofitpotentialthatForexhastoofferwhileatthe sametimedesigningtherightstrategytominimizerisk. Ontheotherhand,theyarealikeinthatbothForexandstocksaremarketsthat developrepeatablepricebehaviorthatpresentprofitopportunitiesforthose traderswithgoodtradingmethods,soundmoneymanagementprinciplesand disciplinedtrading. BecauseofthehighleveragethatForexoffers,Forexpositionsrequireamuch smalleraccountsizethandostockstradingsimilarsizedpositionsasForexmargin requirementsaremuchsmallerthanstockmarginrequirements.Andsothe rewardcanbemuchgreaterwithForex,butatthesametime,theriskismuch greater.Butthiscanbedealtwitheffectivelywithgoodtradingtacticsandgood moneymanagementrulesthatallowformaximizingprofitpotentialand minimizingrisk.
HowdoIfindareliableForexbroker?
Unlikestockandfuturesbrokers,notallForexbrokersareregulated.Itisvery importanttoopenanaccountwitharegulatedbrokerorbankthatisaregistered memberofaregulatingbody.Sincethereisnocentralmarket,thereisnoglobal regulatoryagencyresponsibleformonitoringtheactivityofthecurrency markets.Therefore,regulationislefttoeachcountry. IntheUnitedStatestheFederalReserveBankmonitorsthebankingsystemand theCommodityFuturesTradingCommission(CFTC)hasjurisdictionoverall FuturesandForexactivity.Whentradingintheforeignexchangemarkets, individualsshouldonlytradewithaCFTCregisteredentitythatisalsoamember oftheNationalFuturesAssociation(NFA)andisregulatedbytheCFTC.Fornon
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USbroker/bankentities,besurethatthebrokerorbankisregisteredwiththat countrysappropriateregulatorybodies. Inadditiontoworkingwitharegulatedbroker,youwantabrokerthathaslow spreads.Thesespreadsarecalculatedinpips,whichisthedifferencebetween thepriceatwhichacurrencycanbeboughtandthepriceatwhichitcanbesold atanygivenpointintime.Thisishowtheforexbrokersorbanksmaketheir moneysincetheydontchargecommissions.So,obviously,lowerspreadswill saveyoumoremoney. Tradingtoolsarealsoveryimportant whenchoosingaForexbroker. Specifically,youwantabrokerthatwill giveyougoodchartingandtrading softwarethathastheabilitytoplotthe indicatorsthatyourtradingmethod uses.Thisbringsupanimportantpoint. Youshouldnevergolookingforcharting softwarefirstandthentrytouseor developatradingmethod. Instead,youshouldfirstgeteducatedon agoodtradingmethod(ordevelopyour own)andthenfindchartingsoftware thatwillletyouimplementthismethod. Iveseentoomanytradersstubbornly useinadequatechartingsoftwarejust becausetheirbrokergaveittothem. Dontmakethismistake. Thankfully,unlikestockbrokers,manyforexbrokersdoprovideyouwithvery adequatechartingandtradingsoftware,allbundledtogether. Otheraspectstowatchforwhenselectingabrokeraretheleveragelevelsand accounttypes(standardandminiaccounts)offered.Mostbrokersofferatleast 100:1leveragewhichismorethanadequateformosttraders.Somebrokersalso offergreaterleverage,upto400:1.Thistypeofleverageiscompletely unnecessaryastheriskrewardratiocanquicklygoagainstyouifyouuse excessiveleverage.(Illcoverthisinmoredetaillaterinthereportinthequestion aboutriskmanagement.)
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Dependingonyouraccountsize,youwillwanttobesurethebrokeryouchoose offerstheappropriateaccounttypes.Standardandminiaccountsaretypical. Thestandardaccounttypicallyrequiresminimuminitialcapitalof$2,000or more,whiletheminiaccounttypicallyrequires$300ormore.Leverageof100:1 shouldbeavailableforeitherastandardoraminiaccount.
WhatarethebestForexpairstotrade?
IbelievethatnotallForexpairsaresuitablefortrading.Whatweshouldbe lookingforastradersareliquidmarketsthathavesufficientpricemovementto makeatradeworthwhile.Withthatinmind,thefollowingpairsarethemost widelytraded,mostliquidpairsandtheonlyonesthatIwouldconsidertrading: EUR/USDEuro/USdollar GBP/USDBritishPound/USdollar(oftenreferredtoastheCable) USD/JPYUSdollar/JapaneseYen USD/CHFUSdollar/SwissFranc USD/CADUSdollar/Canadiandollar AUD/USDAustraliandollar/USdollar AndtofurthersimplifyForextrading,youcouldeasilylimityourtradingtothe twomostliquidandwidelytradedpairs,theEUR/USDandtheGBP/USD.This reallystartstoreducedemandsonyourtimefortradingactivitieswithoutgiving upgoodprofitpotential.
Whatisthebesttradingplatformand chartingsoftwareforbothbeginnersand moreexperiencedtradersalikeandwhere shouldIobtainthemostreliabledata?
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Theanswertothisquestionstartswithyourbroker.First,Ihighlyrecommend thatyouonlyopenanaccountwitharegisteredbroker.Havingsaidthat,most Forexbrokersprovide,freeofcharge,anonlinetradingplatformthatisintegral withdecentchartingsoftware.Thiswayyouhaveyourchartingsoftware,your datafeedandyourtradingplatform(theabilitytoplacetradesonline)allinone location.Ibelieveyoucanconsiderthedatareliableandtheorderexecution properaslongasyouaredealingwitharegisteredbroker. However,sometradingplatformsandchartingsoftwarearemoreintuitiveand easiertousethanothers,soinselectingabroker,youwanttoopenademo accountfirstandgetthefeelforthatbrokersplatformtoseeifitiscomfortable foryou.Youwillbeabletodetermine thiswithalittlepapertradingovera fewdaysandweeks. Also,youwanttobesurethatyour brokerschartingsoftwareisabletoplot theindicatorsthatyourtrading methodscallfor.Mostwillbeableto dothis,butnotall. Inaddition,sometradersprefertoalso useadditionalupscalecharting softwareindependentfromthedealer, suchasofferedbyMetaTrader. MetaTraderandothersofferadditional chartingcapabilityaswellastradealert capabilitythatsometradersfinduseful.
Isitbettertousefundamentalor technicalanalysiswithForextrading?
Theanswertothisquestiondependsonyourtradingmethod.Themarketsare indeedmovedbyfundamentals(balanceoftradedata,moneysupply,interest rates,economicandfinancialreports,etc.)butonlythroughtheprismofhuman
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psychology.Itisnotthefundamentaldataorinformationthatissoimportantas muchasitisthemarketsreactionstothatinformation. Manyadvocatetradingonthefundamentals;however,acasecanbemadethat tradingonthefundamentalsisextremelydifficultduetothefactthatthe marketsalwaysimmediatelyandcontinuouslyaredigestinganyandall fundamentaldataandtodothissuccessfully,youneedtobeavailableonareal timebasisatwhateverhourofthedayornightthatthenewsislikelytoimpact themarket.Then,youneedtoactonthatnewsbeforeoratleastinthesame instantthattherestoftheworlddoesorelsetheopportunitycouldbelost. Whilesomedotradethefundamentalssuccessfully,Ibelieveusinggoodtrading methodsbasedontechnicalanalysisisaneasier,lessdemandingwaytotrade withfargreateroddsofsuccess.ThisisbecauseIbelieve,asdotechnicaltraders ingeneral,thatanyandallfundamentalsarealreadyalwaysreflectedintheprice ofthemarketatanyinstantandsoIwouldratherapplytechnicalanalysistothe marketsandtradethemonmyterms,whenIwanttotradethemandhowIwant totradethem,withaslittletimespentintheprocessaspossible.
Iamnotabletodedicatethetimeittakestoday tradethemarkets.IsitpossibletotradetheForex marketsonanendofdaybasissoIcantake advantageofthemarkettrendswhileworkingmy regularjoborwhensleeping?

Thisisaverycommonquestion;becausesomebelievetheonlywaytotradethe Forexmarketsisbydaytradingthemarkets,whichgenerallydoesrequirea significanttimecommitment.WhiledaytradingisverywidespreadintheForex markets,Ibelievethatatradercandoaswellorbetterwithfarlesstime commitmentbytradingthemarketsonanendofdaybasis.Ofcourse,inorder todoso,youmusthavegoodtradingmethodsspecificallydesignedforendof daytrading. Ithasoftenbeensaidthatifyoucannotmakemoneytradingonanendofday basis,youwillnevermakemoneybydaytrading.AndIbelievethatappliesto theForexmarketsaswell.Thisisbecausethetimepressuretomakeinstant decisionsonorderentry,immediateplacementofstopordersandsettingprofit
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targetsisverystressfulanddemandingofyourtime.Whilesometradersprefer daytradingandareabletohandleitsrigorsandhavethetimetoallocatetoit, otherspreferendofdaytradingthatcanbedoneinaslittleas20minutesaday whilethemarketsarequiet. Letslookatacoupleofexamplestomakethispoint.
Figure2EUR/USDDailyChart
Figure2isadailychartoftheEUR/USDpairshowingagreatupmoveinthe marketfrommidOctobertoearlyDecember2006.Thiswasabouta900pip movethatoccurredinalittleover30tradingdaysandagoodendofdaytrading methodshouldhavebeenabletogetonboardandcapturearound700pipsof thismove.Withagoodendofdaytradingmethod,itcouldtakelessthan20 minutesadaytoenter,placestops,manageandexitthetradewithverynice profits.
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Figure3EUR/USD5MinuteChart
Figure3is5minutechartoftheEUR/USDpairshowingtwogreatdownmoves from7:00AMto11:00AMSeptember3,2007.Thefirstdownmovewasfor about21pipsandlastedfor8barsandtheseconddownmovewasforabout20 pipsandlastfor5bars.Agooddaytradingmethodshouldhavebeenabletoget onboardandcapture12pipsofthefirstmoveand11pipsofthesecondmove. Withagooddaytradingmethod,itwouldhavetakenpotentiallyseveralhoursto capturethesetwomoves. Nowyourenotalwaysgoingtogeta900pipmoveonthedailychartsandyoure notalwaysgoingtogettwo20pipmovesinamatterof4hoursonthe5minute charts,butIthinkthisexamplemakesthepointthatthepotentialgainforthe timeinvestedisfargreaterwithendofdaytrading.
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HowisitpossibletotradetheForexmarketsonan endofdaybasisusingdailybarchartswhenthe marketsarealwaysopen?

Mostgoodchartingsoftwareandtradingplatformsprovidedbyagoodbrokeror bankincludetheabilitytoplotdailybarchartswherethedailybarclosesat 5:00PMEST.ThistimeisselectedbecauseitiscoincidentwiththeNewYork sessioncloseandtheSydneyopenwhichisarelativelyquiettimeinmost marketsuntiltheTokyosessionbeginsat7:00PMESTfollowedbytheLondon (andEurope)sessionbeginningat3:00AMEST.Wecanthenusethesedailybar chartstodeveloptradingstrategiesthatrequireonlytheuseofthesecharts withoutrequiringintradaycharts.
Figure4showsaplotofadailychartfortheEUR/USDpairusingVTTraderwhich isarepresentativechartingsoftware/tradingplatform.Onthischart,eachbar representsonedaystradingactivityfromthehighpriceofthedaytothelow

Figure4EUR/USDDailyChart
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priceoftheday.Thehorizontalmarkto theleftofadailybaristheopenforthe day(thisisbasedonthefirsttradeafter 5:00PMEST).Thehorizontalmarktothe rightofadailybaristhecloseforthe day(thisisbasedonthelasttradeasof 5:00PMEST).So,asyoucansee,daily barchartsarereadilyavailableinthe 24/7Forexmarkets. Alsoplottedonthischartareafew technicalindicators.Twosimplemoving averagesareplottedinblueandredand theADXindicatorisplottedatthe bottominbrown.Asimplemoving averageiscalculatedbyaddingupthe pricesforanumberofbarsanddividing thatsumbythesamenumberofbars. Movingaverageshelptodeterminethe prevailingtrendsofthemarket.The ADXindicatorisacomplexformulathathelpstodeterminethedegreeof trendinessofamarket.Theseareonlyafewoftheindicatorsthatareavailable throughVTTraderinapplyingtechnicalanalysis. Ifyoulookcloselyatthechartfromlefttoright,youcanseethatthismarketwas inanuptrendandthenlaterformedadoubletopbeforefallingintoadown trend,onlytoreverseagainintoanuptrendattheendofthechart.Thistypeof behavioristypicalofwhatyoucanexpecttoseeonadailychartandthese shortertermtrendscandefinitelybetradedusinggoodendofdaytrading methods. Agoodendofdaytradingmethodshouldbebasedonanevaluationofthe marketafterthedailybarclosesat5:00PMESTfortradeopportunitiestobe consideredaftertheopenofthenextbarwhichoccursasofthefirsttradeafter 5:00PMEST.Inactualpractice,becausethemarketsarerelativelyquietduring thistime,tradesforthenewdailybarcanbeplacedanywherefrom5:00PMto 7:00PMESTwhentheTokyosessionbegins.Tradinginthismannerthenrequires onlyafewminuteseachdayatthesametimewithoutworryingaboutanopen positionifitisproperlyprotectedwithstopsandprofittargets.
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Figure5GBP/USDDailyChart
Figure5,showsaplotofadailychartfortheGBP/USDpairusingVTTraderwith thesametechnicalindicatorsasthepreviouschart.Withthissoftware,itisa simplemattertotogglefromonepairtotheotherforquickvisualanalysis. Ifyoulookcloselyatthechartfromlefttorightagain,youcanseethatthis marketwaschoppingsidewaysuntilamajormoveupoccurredoveraperiodof morethan20daysandthenthemarketreversedabruptlyandretracedthat entiregainevenfaster.Afterwhichanewrallystarted.Again,thistypeof behavioristypicalofwhatyoucanexpecttoseeonadailychartandthese shortertermtrendscandefinitelybetradedusinggoodendofdaytrading methods.Youcanalsoseethatifyoudonotpaycloseattentiontorisk managementthattheseabruptswingscoulddogreatdamagetoyouraccount. Likeanyendeavorthatoffersgreatreward,youmustgetthepropereducation andtraininginordertostayoutoftroubleandrealizethatpotential.
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Whataretheattributesofagood Forextradingmethod?
Agoodtradingmethodshouldbeassimple aspossibletoprovideapowerfuledgeto thedisciplinedtraderthatisbasedupon specificsetupconditions,entryrules,initial stops,andexitstrategy.Inadditionthe managementofpositionsizeandnumber ofpositionsmustbeaccordingtostrict moneymanagementrules.Agoodtrading methodalsomustberelativelyeasyto follow. SetupconditionsThesearethespecific requirementsthatmustbemettoconsider apairforatrade.Theserequirementsare expressedintermsoftechnicalanalysisindicators,patternsandpriceaction.The aimhereistoonlyconsideratradewhenthemarketmeetsthesepreset conditionsandtostandasideotherwise.Thisisoneofthewaysrequiredtoput theoddsinyourfavor. EntryRulesOncethesetupconditionsareinplace,entryrulesdefinethe triggernecessarytoactuallyenterintothetrade.Thisusuallymeansthatprice mustbehaveinacertainwayinordertotriggerintoatradeusingeithera market,stop,orlimitorder. InitialStopRulesThesearetherulesthatgovernhowanewpositionshouldbe protectedfromanadversemoveinthemarket.Sincethereisalwaysriskwhen tradingtheForexmarkets,itisveryimportanttoknowtheappropriateplaceto placetheinitialstoporder.Placedtooclosetothemarketrisksbeingstopped outprematurely.Placedtoofarfromthemarkettakesontoomuchrisk.Thisis oneofthemostcriticalaspectsoftrademanagement.EffectiveInitialStops shouldbeplacewhereyoudontexpectthemarkettogoandifitdoes,the premiseofthetradeisoverandyoushouldexitthetradewithasmallloss. ExitStrategyRulesTheserulesgovernhowtomanageatradetoexitthetrade profitably,iftheInitialStopRuleshavenotbeenappliedtothetrade.Theserules
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shouldstrikeabalancebetweenprotectingopenprofitsasmuchaspossibleand exitingamarkettoosoonandmissingfavorablemarketmoves.
Whydontallsetupconditions triggerintopositions?
Thereisacommonmisunderstandingamongmanybeginnersthatifatrading methodisgoodthenanytimethesetupconditionsasdefinedbythatmethod occur,thenthatmeansitsOKtogoaheadandenterthemarket.Asseasoned tradersknow,thisisnotalwaysthecase. Inordertohaveanedgewhentradingthemarkets,asuccessfultraderwaitsfor conditionstodevelopthatmaysignalagoodtradeopportunity.Butwhenthese conditionsdevelop,whichareusuallycalledsetupconditions,thatoftentimes onlymeansthatthetradershouldbeonalerttoatradingopportunity. Anactualtradedoesnotoccurunlessafterthesetupconditionsareinplacea triggeralsooccurs.Thetriggerisnecessarytoconfirmthatthemarketwillmove intheintendeddirectionbeforeenteringthemarket.Thisisaveryimportant concept,asitiscommontohaveseveralsetupconditionalertsthatdonot trigger. SothemoralofthisstoryisthatitisperfectlyOK(andexpected)forsetup conditionstoNOTtrigger.Thatmeansconditionsarenolongergoodforthe trade,andyouarebeingprotectedbecauseyoudidntenterthattrade. Amateursandbeginnerswillsometimesassumeatradingmethodisnot workingbecausesetupconditionshavenotbeentriggeredintoaposition. Nothingcouldbefurtherfromthetruth.
Whatarethebesttechnicalindicatorstouse?
Atlastcountthereareover100technicalindicatorsavailableinmostcharting softwarepackages.Thereisnomagicintheindicatorsthemselvesastheyall strivetotellyousomethingabouthowthemarketisbehavingatapointintime. Anditisnotthatsomearebetterthanothers,ratherthekeytousingindicators successfullyistoselectonlyafewthatcomplementeachotherandtousethem inanuncommonmannertogetherwithpowerfultradingtactics.
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Thetendencyofamateurtradersistoovercomplicatethings.Theywanttouse (ormisuse,really)toomanyindicatorsandpatterns,andthinkthattobe successful,theremustbeabunchofcomplexitythatisrequiredinagoodtrading method.Nothingcouldbefurtherfromthetruth.Simpleisbetter,byfar,for severalreasons. 1. Usingtoomanyorthewrongindicatorsiscounterproductive,asthe informationthatthoseindicatorsprovideiscounterintuitiveandjustplain misleading. 2. Usingafewsimpleindicatorsinauniquelypowerfulwaycanprovidethe rightinformationnecessarytomakegoodtradingdecisions. 3. Withtherightindicatorsandpatterns,youwillbefarmorelikelytotrade withdisciplinebecauseyouwillbeabletounderstandanobjectivesetof rulesthattherightindicatorsandpatternscanprovide. LetmecommentonaphenomenonthatIseetimeandtimeagain.Hopefully, youwillnotfallvictimtothis.Hereitis:Youresearchanewtradingmethodand ultimatelybuyit.Thenyouquicklyflipaheadtowhatyouconsidertobethe meatofthemethod,andtotallyignorethemoreimportantaspectsofrisk management,discipline,andpsychology.Thenyouexaminethemethod,looking forabig,mysterious,jawdroppingsecretthatwillletyoupredicteachand everymarketmovelikeamoderndayNostradamus.Youlookforacomplicated formula,oryoulookforsomecrypticcombinationofindicatorsthatmustbe good,becausetheyrejustsocomplicatedlooking!Wow! Thenwhathappensisyoulltypicallyburnyourselfouttryingtoapplyit.Youll becomefrustratedwhenthemethoddoesntwork.Or,youllblameyourselffor notbeingsmartenoughtounderstandorapplythemethod.Thenyoullputthe methodontheshelf,onlytooccasionallyglanceatitinwonderfromtimeto time.Wonderingwhyyoucouldntgetwhatyoustillassumetobeagreat methodtowork.
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Buthereswhatcanalsohappen.Intheexampleabove,afteryoudiscoverthat themeatofthemethodisverysimple,easytounderstand,andonlyusesafew commonindicators,youbecomeperplexed.Youmayevenbecomedisappointed. Afterall,inyourmind,youexpectedsomelabyrinthineskeletonkeythatwould unlockthemysteriesoftheforexmarketsonceandforall.Youmayevenbe temptedtothrowinthetowel,instantlygiveupthemethodandsenditback justbecauseitsnotcomplicatedenough. What?!Thatsjustcrazy.ButIhaveto admit,Iwentthroughaperiodinmy younger(andpoorer)dayswhenI thoughtabitlikethat.Timeand experiencehavefinallytaughtme,and muchtomyrelief,thatcomplicatedis usuallynotgood,andsimpleisalmost alwaysbetter.Ifthosetradersthatare stillcursedwiththatcomplexity mindsetwouldjusttryasimple tradingmethod,theywouldbedoing themselvesaHUGEfavor(notto mention,potentially,theirtrading accounts).Thisgoesforbothtrue beginnersaswellastraderswhothinkof themselvesasexperts. Again,thekeyhereissimple,but powerful.Usejustafewindicators, appliedinamannerthatisnottheusualtextbookapproach.Thatiswhatcan giveyouanedgetradingthemarkets. Incidentally,theunfortunatetruthofthematteristhattheold80/20rulewill comeintoplayhere(exceptintrading,itsmorelike90/10,or95/5),and80to 95%ofthetradersthatjustreadthissectionandnoddedtheirheadsin agreementwillcompletelyignorethisadviceandfallrightbackintothetrap describedabove.Itsanearcertainty,andthatstoobad.SoIreallyurgeyouto gobackandreadthissectionagain,andhopefullyyoucanescapetheself sabotagingpatternsthatareseparatingmosttradersfromfailureandsuccessin themarkets.
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Letstakealooknowatsomeexamplesofafewindicatorsthatcanbeusedto formthebasisofverypowerfultradingmethods.
Figure6USD/CHFDailyChart
Figure6showssometypicalandnotsotypicalindicatorsappliedtotheUSD/CHF pairusingVTTrader.First,noticethattwosimplemovingaverageshavebeen plottedonthechart(inblueandred).Thesearecommonlyusedindicators.I havealsoplottedmovingaverageenvelopeswhichareafixedpercentageabove andbelowthebluemovingaverage.Thesearenotsocommonlyusedandcan beveryhelpfulsupportingvariousquickhit,inandouttradingstrategiesthat onlyneedattentiononceadayatthe5:00PMESTdailyclose.
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Figure7USD/JPYDailyChart
Figure7showssomeadditionalindicatorsappliedtotheUSD/JPYpairusingVT Trader.Onthischart,Iamapplyingalongertermmovingaverageinpurple togetherwithtwoveryshorttermmovingaveragesinbrown.Thelongterm movingaverageisbasedontheclosingpricewhiletheshorttermmoving averagesarebasedonthehighandcloserespectively.AlsoincludedistheADX atthebottomofthechart.ThisiswhatImeanwhenIsaythekeytodeveloping anedgewhentradingthemarketsistocombineafewindicatorsinan uncommonway.Eachoftheseconfigurationsisdesignedtoexploitacertain behaviorinthemarket.Buttheindicatorsaloneareinsufficient;onlywhen combinedwithpowerfultradingtacticsdoesthepowerofagoodtradingmethod emerge.
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Figure8USD/CADDailyChart
Figure8showsaconfigurationwereviewedinanearlierquestionappliedthis timetotheUSD/CADpairusingVTTrader.OnthischartIamapplyingtwo simplemovingaveragesplottedinblueandredandtheADXindicatorplottedat thebottominbrown. Thissetofindicatorswhencombinedwithdifferenttradingtacticsisdesignedto capturelongertermmovesintheForexmarketssuchasoccurredonthis USD/CADpairbeginningatthelefthandsideofthechartandcontinuingforover 5months.Thesemegatrendscanonlybecapturedbytradingthedailybar charts.
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Figure9AUD/USDDailyChart
Figure9showsanothercombinationofindicatorsappliedtotheAUD/USDpair usingVTTrader.Onthischart,Iamapplyinganintermediatetermmoving averageinredtogetherwithslowstochasticsandADXinthetwopanelsbelow thepricechart.Theintermediatetermmovingaverageisbasedontheclosing price.Thissetofindicatorswhencombinedwithdifferenttradingtacticsis designedtocapturesuddentrendreversalwavessuchasoccurredonthis AUD/USDpairjusttotherightofthecenterofthechartandcontinuingfor almost3months.
WhatsimplestrategycanIuseto findgoodentrypoints?
ThegeneralapproachthatIuseistodevelopspecificsetupconditionsthat,when presentinthemarket,indicatethatIshouldconsiderenteringintoanew position.Sothefirstthingistoidentifytheconditionsthatoccurrelatively
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infrequentlyinthemarket,butthatwhentheydo,ahighprobabilityopportunity mayawait. Thisisaveryimportantconcept,becauseoneofthekeystosuccessfulForex tradingistowaitpatientlyfortheprimeopportunitytoenterthemarket. Amateurstoooftenbecomeimpatientandwanttotradejustforthesakeof tradingandconsequentlyenterthemarketunderotherthanidealconditions. Thisgreatlyreducesthechanceofasuccessfultrade.
Figure10GBP/USDDailyChartEntryPointExamples
Amateurtradersthatdothisare,ineffect,tryingtoforcethemarkettocometo themontheirterms.Guesswhat?Themarketdoesntcare!Itsgoingtodowhat itsgoingtodoandthereisnothingyoucandoaboutitexceptforonething. Andthatistowaitforthemarkettodevelopaccordingtopredefinedsetup conditionsandonlywhenthathappensisitappropriatetoconsideratrade.In thatway,yourenotforcing,butratherwaitingforthemarkettocometoyou, whichmakesaworldofdifference. Anotherkeyconcepttofindentrypointsthatiscommontomosttypesoftrend tradingistoattempttobuyintosupportlevelsandsellintoresistancelevels.The

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successorfailureofthisattemptliesintherobustnessofthesetupconditions definedinthetradingmethod. Oncethesetupconditionsareinplace,specificentryrulesneedtobefollowedto triggertheactualtrade.Forexample,oneofthepairsthatyouarefollowing maymeetthesetupconditionsforalongtrade.Now,dependingonthetrading method,theentryordercouldbeaStoporderthatsays,Onlybuyifthemarket tradesaboveacertainlevelwhichconfirmstheresumptionoftheuptrend.Or,it couldbeaLimitorderwhichsays,Buyonlyifthemarkettradesdowntoa supportlevel,definedbyamovingaverageorFibonaccileveloroldhighs,etc. Thereisnoonerightwaytodothis.However,thepreciseentrytriggerpointhas tobeintegraltotheotherfeaturesoftheoveralltradingmethod,including plannedriskinthetrade.Theentrypointrulesofthemethod,bynecessity,will determinethestoplosspointandconsequentlyplannedriskinthetrade.The twogohandinhand.
HowcanIdeterminetheinitialstoploss, trailingstops,andexitpoints?
Besidesmoney/riskmanagement,Ibelievethisisoneofthemostimportant questionsregardingagoodtradingmethod.Itshouldgowithoutsayingthatas soonasyouenterthemarketwithanewposition,aninitialstopordershouldbe enteredtoprotectthepositionagainstanadversemoveinthemarketoranexit strategyshouldbeemployedtocoverthetradeifthemarketclosesadversely.If suchamoveoccurs,asisoftenthecase,youwantyourpositionliquidatedand outofthemarketwithaminimalloss. Theconsequencesoffailingtodothisarethatyouwillnotbesuccessfulat tradingperiod.Infact,everytradeyouputon,youshouldplantolose,sothat youaresuretoplaceyourstoplossorderorcoverthetradeonanadverse close.Otherwise,whatwouldhavebeenasmalllossturnsintoabigloss, throwingtheentirerisk/rewardratiooutofkilteragainstyou. Thatbeingsaid,whereshouldthestopbeplaced?Theshortansweris,Where youdontexpectthemarkettogo;or,morespecifically,wheretheassumption inputtingonthetradeisnolongervalid.Forexample,ifalongpositionwas enteredintoafteranuptrendorbreakoutmarkettradedbackdowntosupport, aninitialstopcouldbeenteredbelowtherecentlowbecauseifthemarketdoes
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gothere,support(asdefinedbythatlow)wouldhavefailed,andthereisno longeranyreasontobelongthemarketsogetout!Dontwaitaroundforitto comebackinyourfavorbecausetheoddsareagainstit. Ifthemarketgoesinyourfavoroncetheinitialstopisinplace,thenyouneeda setofrulesthatwillallowyoutoexitthemarketprofitably.Thisposesareal dilemma.Ifyouexittoosoon,youmaysecureasmallprofit,butmissoutonall thosebigmovesthatoccur(andthebigprofitsthatgowiththem).Ontheother hand,ifyouwaittoolongtoexit,themarketmayreverseandtakeawayallof youropenprofitsandevenputyouintoalossposition.
Figure11GBP/USDDailyChartInitialStop,TrailingStops,&ProfitTargetExamples
Sowhatdoyoudo?Well,thefirstthingistorealizethatthereisnomethodthat canforecastwhetherornotaparticularmovewill: Goagainstyouimmediately Gouponlyalittlebeforegoingbackdown Goupalotinyourfavor

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Forexample,afteryouenteralongtradeinanuptrend,theresabsolutelyno waytopredictwhatwillhappennext(contrarytowhatthesocalledgurustell you).Becauseofthis,youabsolutelyneedanexitstrategy,becausetheriskof lossissignificantnomatterhowcarefullyyouplanyourentriesandexits. ThefollowingistheverybestexitstrategythatIbelievepossiblewhentrading theForexmarketsonanendofdaybasis.IcallittheOptimalProfitExit Strategy.Itsastrategythatscalesoutofatradeintwosteps.Thisstrategyis firstandforemostabouttakinganinitialprofitassoonasappropriate,thereby takingsomemoneyoffthetableandreducingtheriskinthetradeatthesame time. 1. Steponeistocover1/2ofyourpositionatapredeterminedprofittarget. Theprofittargetismodest,butenoughtomakethetradeworthwhileand thespecificlevelisalsodependentontheoverallmethodbeingused. Oncethatinitialprofittargetishit,youshouldmovetheinitialstopupfor theremaining1/2ofthepositiontothelowestlowofthepast3daysfor anuptrendtradeorthehighesthighofthepast3daysforadowntrend trade.Yourenowoutof1/2ofthetradewithaveryniceprofitandatthe sametimeyouarepreparedtoridethemarketasfarasitwantstogoin yourfavorfortheremaining1/2ofyourposition. 2. Theremaining1/2positionshouldremainprotectedbyatrailingstop alwaysbasedonthelowestlowofthepast3days(foranuptrendtrade). Andsoasthemarketcontinuestomoveup,youshouldcontinuously movethestopupwithit.Thislocksinasignificantportionofthe remainingopenprofitbutalsogivesthemarketenoughroomtotrade downabitwithoutshakingyououtofthetradeifitmoveshigher. Withthisstrategyyoushouldbepreparedtotakeadvantageofthemarketafter enteringatradenomatterwhatitdoes.Andthatsabigdeal.
TheOptimalProfitExitStrategy
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HowcanIfindaForexmethodthatworksalmost allofthetimewithminimalornolosses?
IcallthistheHolyGrailSyndromeand,ofcourse,theHolyGrailoftrading simplydoesnotexist.IvetalkedaboutthisconceptmanytimessinceIstarted trainingindividualstotradethemarketsbackin2001,butitbearsrepeating here. Foryears,Irefusedtobelieveinthis conceptandwasforeverlookingforor tryingtodevelopamethodthatwould alwayswinwithnolosses,orcertainly neverexperiencetwolosingtradesina row.Iwastedyearsofmylifewiththis falseimpressionaboutwhatitwould taketotradesuccessfully.Dontfall intothesametrap.Whiletheholygrail oftradingdoesnotexist,norwillitever; thankfully,itisnotnecessaryinorderto besuccessful. WhatisnecessaryasIhaveemphasized repeatedlyinthisreportisatrading methodthatgivesyouanedgeinthemarket,thedisciplinetotradeitandof coursesoundmoneymanagement.Thatsoundssimple,andinsomerespectsit is,untilyoufactorushumansintotheequation.Considerthesequestions. 1. Doyouhaveanedgeintradingthemarkets?Whatisit?Ifyoudont know,thenyoudonothaveanedge. 2. Howaboutdisciplinecanyoureallyfollowyourtradingmethodwithout fail,especiallyaftertwosuccessivelosingtrades?Whataboutthree?Or willyoudropthemethodandsearchforsomethingelse?Whenthat happenstheHolyGrailSyndromeisatwork. 3. Thenthereismoneymanagement.Areyouallocatingtheappropriate leveloffundsandcontrollingthedegreeofriskoneachtrade?
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ThereasonmosttradersloseisthattheycannotanswerYestoallthree questionslistedabove.AndIbelievethatthekeytomusteringthediscipline neededtobeawinneristohaveamethodthatdoesindeedprovideawinning edge,thatisrelativelysimpletoapply,andthatusessoundmoneymanagement practices.Onlythen,inmyopinion,canonemustertherequireddisciplineto tradeeffectively. SodoyourselfafavorandabandonthesearchfortheHolyGrail.Instead,finda goodtradingmethodthatfitswithyourpersonality,applysoundmoney managementpractices,andtradeitwithdiscipline.
HowcanIminimizedownsideriskwhilestill capturingqualitygainsintheForexmarkets?
First,youmusthaveagoodtradingmethod.Butevenmoreimportantly,you musthavestrictmoneymanagementrules;withoutthem,evenagoodtrading methodwilleventuallyfail.Ihavefoundthatinordertobeeffectivewithrisk management,youmusthaverulesthataresimpleorelseyousimplywont followthem. Forexample,oneriskmanagementmethodiscalledOptimalf.WhileOptimalf hasalotgoingitforit,Ibelieveitistoocomplicatedtobeofpracticaluse. InsteadIbelievethebetterapproachisasfollows:Simplyrisknomorethan2% ofyouraccountsizeonanyonepositionandnomorethan8%ofyouraccount sizeonallopenpositionsatapointintime.Riskinthiscasemeanstheamount youplantoloseifthetrade(s)goesagainstyou. So,asyouraccountsizegrows,youwouldbeabletoplacelargerandlarger positions.Whenyouhavealosingtradeortwo,youwouldbereducingthe amountriskedandthereforethepositionsizeonthenexttrade.Sothisisavery simpleselfregulatingconceptthatkeepsyourpositionsinproperalignmentwith youraccountsizeatalltimes.ThisisparticularlyimportantinForextrading, giventhetremendousleverageofferedbythebrokers.Thelastthingyouwant todoistoovercommittoatradejustbecauseofthebrokerslowmargin requirements.Bytheway,IbelievethatmostForextradersthatenduponthe losingenddosobecauseofpoorriskmanagementmorethananyotherfactor. Letslookatanexample.Supposeyouopenanaccountanddontunderstand theimportanceofriskmanagement.Youelecttorisk30%oftheinitialaccount
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sizeoneachtrade(becausethebrokersmarginrequirementsallowit)andthen promptlylosethreetradesinarow.Youraccountwouldbealmostcompletely wipedoutafteronlythreetrades. Ontheotherhand,letssayyouunderstandtheimportanceofriskmanagement andriskonly2%oftheaccountsizeoneachtrade.Nowletssayonceagainyou losethreetradesinarow.Thistimeyouwouldhavelostlessthan6%ofyour initialaccountsizeandstillhaveplentyofcapitalleftforadditionaltradeswhere onegoodtradecouldmorethanoffsetthethreelosers.Youmightsaythatthisis anextremeexample,butIthinkitmakesthecase;whenyoutradewithproper riskmanagementrules,youstayinthegame.
WhataccountsizedoIneed totradetheForexmarkets?
Thereisnoonerightanswertothat question.First,youshouldonlytrade withfundsthatyoucanaffordtolose. However,Forexbrokersallowyouto tradestandardlotsandminilots.The margin(dependingonthepairyouare trading)forastandardlotisaround $1,000andforaminilotaround$100. Sotechnically,youcouldopenan accountwith,say,$500andtrade5mini lots.Ofcourse,youwouldbeviolating yourriskmanagementrulesandwould probablyenduplosingyourstake. Thekey,onceagain,istorisknomore than2%ofyouraccountsizeonanyone tradeandsoifyouweretoputon1mini lotandrisk50pips,thatwouldbeabout $50ofriskinthetrade(foraUSdollar countercurrencypair).Thatmeansyou wouldhavetohaveanaccountsizeofat least$2,500($2,500x2%=$50)toputthattradeonwithoutviolatingtherisk managementrules.
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Inmanyrespects,theForexmarketsarejustlikeanyotherliquidmarketssuchas stocks,mutualfunds,bonds,orcommodities.Butthereisonesignificant differenceinthattheForexmarkettrendsaregenerallystrongerandlonger lastingandoccurmorefrequentlythandothetrendsinothermarkets.Infact,it isquitecommonforaForexpairtobeginanewtrendthatlastsforseveralweeks orsometimesevenmonths.IcallthesetheForexmegatrends.Whenyou combinethesemegatrendopportunitieswiththeabilitytoleverageasmall account,thatiswhereyoucanfindthefavorableopportunitiestradingForex. Megatrendshavebeenknowntooffer300to700pipranges.Nowthoseare trulybigmoneyopportunities. Thequestionthenbecomes,Whatstyleoftradingisneededtotakeadvantage oftheopportunitiesofferedbythesemegatrends?Well,wecanruleoutday tradingbecausedaytradingonlyfocusesonintradaychartsthatarebasedon5 minute,10minute,etc.barsandtheintradaytrendsthatdeveloponthesecharts withtheobjectiveofpickingoff20to50pipprofitopportunities.Andwhenthe dayisdone,theprocessrepeatsitselfforthenextdaywithoutanyregardtoany megatrendthatmightbeunderway.Theproblemhereisthatthetimehorizon importanttothedaytraderisonlyonesingleday. Thatleavestradingonanendofdaybasiswithdailybarorcandlestickcharts. Herewehaveatimehorizonofseveraldays,weeks,andevenmonthswithin whichamegatrendcanbeidentified.Byapplyingagoodtradingmethodto thesedailycharts,itispossibletogetonboardamegatrendatalowerriskpoint andthenwiththerightexitstrategy,ridethatmegatrendforallitsworth, exitingneartheendofthetrendafterseveralhundredpipsofprofit. Letslookatsomechartstoillustratethispoint.
Wherearethebigmoneyopportunities tradingForex?
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Figure12USD/CAD10minuteBarChartfor11/30/07
Thisatypicaldaytradingtimeframewherethedaytraderattemptstocapture 20to50pipsofprofitsometimeduringtheday.Thisoftentimesrequiresseveral hoursofmonitoringthemarketinordertospotanytradeopportunitiesthatmay bepresentthemselvesthatday.Thedailyrangefromthedayshightothedays lowwasabout90pips
Figure13USD/CADDailyBarChart9/07to11/07
HereyoucanseeatypicalmegatrendthatbeganinearlySeptember07and didntenduntilearlyNovember07,lastingover8weeksandprovidingover1200 pipsofprofitopportunity.Nowthatisamegatrendbyanydefinition.Compare

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thatopportunitytotherelativelysmallopportunitysometimesavailabletoday traders.
Figure14AUD/USD10minuteBarChartfor11/30/07
Heresanotherexampleofanintraday10minutebarchartwithadailyrangeof about80pips.Daytradingthischartrequirespotentiallylonghoursandlimited opportunity.
HereisanothertypicalmegatrendthatbeganinmidMarch07andendedin midApril07,lastingover5weeksandprovidingover600pipsofprofit
Figure15AUD/USDDailyBarChart3/07to4/07
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opportunity.Andoftentimesthesemegatrendswilloccursimultaneouslyacross severalForexpairs.Thedifferenceinopportunitiesbetweendaytradingand endofdaytrading,especiallywhenyouconsiderthatitonlytakes20minutesa daytotradethedailybarcharts,speaksforitself.
HowdoIdeterminewhenthetrendisoptimal forprofitableswingtrading?(NEW)
Swingtradingintrendingmarketshasthepotentialtocapturesignificantmarket movesinamatterof5to20pricebarswhetheroneistradingintradaybarsor dailybars.Thisisaverypowerfulwaytotradeasmajorprofitopportunities presentthemselvesinthesetrendingmarketsthataswingtradercantake advantageofwithagoodtradingmethod.Thechallengeistogetonboardthe emergingnewtrendathighprobability,lowriskpointssothatifthetrenddoes notdevelopasexpected,thetradeisstoppedoutwithasmallloss.Andifthe trenddoesdevelopasexpectedintoasignificantmove,thetradeispositionedto takefulladvantage. However,muchofthetimethemarketsarenottradinginatrendbutratherina sidewayschoppyfashion.Andwhenthemarketsaretradingthisway,therewill benotrendfollowingopportunitiesandconsequentlyattemptstogetonboarda newtrendwillbestoppedoutforaloss.Eventhebestswingtrading,trend followingmethodswillgetchoppedupwithaseriesoflossesinthesesideways, choppymarkets.Andthisiswheremanytradersbecomedisillusionedandbegin toabandonanotherwisegoodtradingmethod. ADXtotherescue.Thisisawonderfulindicatorthatisdesignedtoidentifywhen amarketistrendingandwhenitisnot.Thisisanidealindicatortoaddtoagood swingtradingmethodthatsignalssideways,choppymarketslikearedflagthat saysdonottradeinthesemarkets.WhentheADXislow(lessthan16),thatis theredflagstayout.WhentheADXgoesbackabove16,thenanewtrendis likelyemergingandworthyoftradinginaccordancewiththerulesofagood trendfollowingmethod.Assuccessfultradersknow,itisjustasimportantto knowwhentotradeasitistoknowwhennottotradeandtheADXindicatoris aninvaluableaidinknowingthedifference. ThefollowingchartexampleswilldemonstratehoweffectivetheADXindicator canbeasawarningofnontrendingmarkets.
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Figure16AUD/USDADXExample
Figure17EUR/USDADXExample
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Figure18GBP/USDADXExample
Unlikefreestockbrokerprovidedchartingsoftware,mostfreeForexbroker providedsoftwareisactuallysufficienttosupportForextradingoperations.Each Forexbrokerusuallyhaseitheraproprietarysoftwarepackageoraversionofa standardpackagesuchasMetatrader4.Ineithercase,thechartingsoftwareis integratedwithanorderplatformsothatbuy/sellorderscanbeplaceddirectly fromthechartingsoftwarescreenswithouthavingtoswitchtoanotherorder venue. Thedifferencesamongbrokerprovidedsoftwareandtradingplatformsare minorasmostprovidetheflexibilitytoviewpricechartsinanytimeframeaswell asapplyanyoftheover100technicalanalysisindicatorscommonlyusedinall trading.Likewise,theintegratedtradingorderplatformsareverysimilarinthe mechanicsrequiredtoplaceanorder.ThisisverygoodnewstoForextraders becauseitmakessettingupchartsandcharttemplatesasimpleeasyprocess. Andwhenitcomestoplacingorders,asimpleclickonthechartoftheForexpair beingtradedisallittakestobringuptheorderwindow.
Whataresomeofthedifferencesbetweenvarious brokerprovidedForexsoftware?(NEW)
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Hereisanexampleofatypicalbrokerprovidedchartingsoftwareandintegrated tradingplatformbyGFTcalledDealBook360.Thisparticularchart(Figure19)isa dailybarchartoftheUSDCHFpairusingcandlesticks.Withaclickofthemouse, youcanchangethetimeframeto5minutebars,10minutebars,hourlybars,etc. Whatevertimeframeyoudesireandthechartwillimmediatelychangeforyou. Oryoucancreatemultiplechartswithdifferenttimeframesforthesamepairor fordifferentpairsallappearingonthesamescreenforeaseofcomparisonfrom onecharttotheother.
Figure19DealBook360
Thenextchart(Figure20)showsanorderwindowthatpopsupbysimplyright clickingonthepricechartandindicatingtheytypeoforderdesired.Inthiscase, itisanordertosellshort1lotatthecurrentmarketbidpriceof1.0185.Clicking thesubmitbuttonwillbringupaconfirmationwindowwhichwhenclickedwill immediatelyplacetheorderandyouwillbefilledatoraroundthecurrent marketbidprice.Whilethestrategiesandtradingmethodsusedtotradethe Forexmarketsrequireagooddealofstudy,theprocessofactuallyplacingorders isveryeasytodo.
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Figure20DealBook360
Figure21showsanorderwindowthatpopsupwhenyouclickonthepricechart andindicatethatyouwanttobuy1lotoftheUSDCHFpairatthemarketprice whichinthisexampleisat1.0189ask.Again,byclickingonthesubmitbutton,a confirmationwindowwillappearwhichwhenclickedwillimmediatelyplacethe buyorderandyouwillbefilledatoraroundthecurrentmarketaskprice.
Figure21DealBook360
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Figure22showsanorderwindowthatpopsupwhenyouclickonthepricechart andindicatethatyouwanttobuy4lotsoftheUSDCHFpairusingaStoporder (whichwillonlybefilledifthemarkettradesatoraboveyourstopprice).Inthis case,youmustenterthestoppriceintheaskboxbecausethisisnotamarket order,butratherastoporder.Thenclicksubmitandtheorderconfirmation windowwillappearwhichwhenclickedwillimmediatelyplacetheorderbutin thiscaseyouwillonlybefilledifthemarkettradesatoraboveyourstopprice. Whenplacingconditionalorderssuchasstopordersyouwillalsoneedtospecify whethertheorderisgoodforthecurrentsessiononlyorgooduntilcancelled.
Figure22DealBook360
Figure23showsanorderwindowthatpopsupwhenyouclickonthepricechart andindicatethatyouwanttosellshort1lotoftheUSDCHFpairusingaLimit order(whichwillonlybefilledifthemarkettradesatorabovetheyourlimit price).Inthiscase,youmustenterthelimitpriceinthesellboxbecausethisis notamarketorder,butratheralimitorder.Thenclicksubmitandtheorder confirmationwindowwillappearwhichwhenclickedwillimmediatelyplacethe orderbutinthiscaseyouwillonlybefilledifthemarkettradesatoraboveyour limitprice.Andlikethestoporder,youwillneedtospecifywhethertheorderis goodforthecurrentsessiononlyorgooduntilcancelled.
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Figure23DealBook360
Figure24showsanindicatorwindowthatisusedtoplotanyoftheover100 technicalanalysisindicatorsavailable.Inthisexample,MovingAverageSimple hasbeenhighlighted.Thiswillbringupawindowaskingfortheparametersfor thisindicator,inthiscase,itwouldbethelengthofthemovingaverage.
Figure24DealBook360
Oncethelengthparameterisentered,aclickofthesubmitbuttonwill immediatelyplottheselectedmovingaverageonthepricechart(Figure25). Otherindicatorscanthenbeaddedasdesiredinthesamemanner.Also,itis

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veryeasytosaveyourchartsettingsandindicatorsasacharttemplateforeasy retrieval.
Figure25DealBook360
Figure26showsanotherbrokerschartingsoftwareandtradingplatform,namely Forex.com.
Figure26Forex.com
AndFigure27showsathirdexampleofchartingsoftwareandtradingplatform fromMetaTrader4whichissoftwareusedbyseveralbrokers.Inbothcases,the
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formatisalittledifferentthanwithDealBook360butthefunctionalityisthe sameandjustaseasytouse.
Figure27MetaTrader4
Andthereareofcourseseveralotherchartingsoftwareandtradingplatforms availablewithotherbrokerswithalmostallofthemworkingverysimilartothese examples.Letstakealookatanotheroneofthem,VTTrader,inthenext section.
HowareordersplacedwithForexbrokers?
PlacingForexordersismostcommonlydoneonlinethroughyourbrokersorder platformthatisoftenintegratedwithyourbrokerschartingsoftware.Thisis veryeasytodoonceyouunderstandtheordermechanics. FollowingareexamplesoftypicalorderplacementsusingVTTradercharting softwareandorderplatform.Thisinformationisreadilytransferabletomostany brokerschartingsoftwareandorderplatformastheyareallverysimilarinthe waytheyoperate. Improvidingthisinformationheresimplytodemonstratehoweasyitistoplace ForexordersbecauseIgetalotofquestionsfromnewcomersaboutthis.If youreamoreexperiencedtrader,thenthisinformationwillbeoldhattoyou.
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Figure28AUD/USDDailyBarChart11/07
Hereisatypicaldailybarchart;inthiscaseitisfortheAUD/USDpair.Iwilluse thischarttodemonstratehowtoplaceamarketordertobuythispairandthen howtoplaceastoporderprotectingtheposition.
Figure29Initiateanordertobuyatthemarket
Inordertoplaceanordertobuyatthemarket,werightclickonthechartabove thecurrentmarketpriceandthenawindowpopsupasshownonthischart. Next,selectBuyinthepopupmenu.

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Figure30OpenPositionsWindow
AnotherwindowwillpopupcalledOpenPositions.
Hereyouwanttoenterthenumberoflotsyouwillbebuying.Inthisexample, wewillplaceamarketordertobuy1standardlot.(Theprocedureforaminilot accountwouldbethesame,exceptyouwouldbebuying1minilotinstead.)So youjusttypein1intheamountperaccountrowandclickOK.

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Figure32RequestforConfirmationWindow
Thiswindowisrequestingconfirmationthatyouwanttogoaheadandplacethe order.JustclickOKandyourmarketorderwillbeimmediatelyplacedand becauseitisamarketorder,itwillbefilledimmediatelyatthecurrentask price.
Figure33AUD/USDDailyBarChart
OnceyouclickOKabove,youarenowlong1AUD/USDpairandyouare returnedtothedailybarchart.
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IfyouthenclickontheOpenPositionstab,awindowwillopenthatshowsyour currentposition;inthiscase,thatyoubought1AUD/USDpairat0.8844(under theopencolumn),theclosecolumnshowsthecurrentprice.Othercolumns includestop,limit,andopenprofit/loss.Toenterastoporder,toprotectthe longposition,youjustrightclickonthestopboxandanewmenuopens.
Figure35OpenPositionsWindowwithRightClickMenu
Fromthismenuyouthenleftclickonthewordstop.
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Figure36OpenPositionsWindowwithStopOrderWindow
Withinthiswindowyouthenenteryourstopprice;inthiscase,weentered 0.8744,meaningwewanttosellthepositionifthemarketdropstothatprice. Andthenleftclickthesubmitbutton.
Figure37OpenPositionsWindowwithRequestforConfirmationWindow
ThenanotherwindowwillpopupcalledRequestforConfirmation.After reviewingyourordertoconfirmthatitiscorrect,goaheadandleftclickonthe OKbuttonandtheorderwillbeentered.
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ThiswillreturnyoutotheOpenPositionswindow,showingagainthatyou bought1AUD/USDpairat0.8844,butnowitalsoshowsunderthestop columnthatyouhaveanopenstopordertosellat0.8744.Ifyouwantedtoalso enteralimitorderabovethemarketataprofittargetlevel,youwouldjustclick onthelimitcolumnandfollowthesameprocedureasabovetoalsoentera limitorder. Thatsallthereistoit.Andonceyouhavepracticedthisprocedureseveral times,itwillbecomesecondnaturetoyou.
Iamgoingtobeverycandidwithyourightnow,andIriskalienatingmyselffrom mostoftheotherForexeducatorsoutthere.However,Ihadtomakeadecision: tellyouthetruth,orkeepmymouthshuttomakegoodwiththe"oldboys" networkofForex"gurus". Deepbreath...hereitgoes... I'vehadmyeyesontheForexmarketsforyears,asIspentatonoftimecarefully researching,testing,andtweakingeverycourse,system,andmethodIcouldget myhandsontoseewhatwasgoingon.So,IthinkI'veseenitall,andforthemost partit'sugly.

The4"GoldenRules"ThatMostTraders WillNEVERLearn(NEW)
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Ihave4"goldenrules"thatIusetodetermineifatradingmethodisgoodforme: 1. Itmustbeacompletemethod,withsetupconditions,entryrules,initial stoprules,andexitstrategyrules,leavingnodecisiontochance. 2. Itmustincludespecificriskmanagement,moneymanagement,and portfoliomanagementguidelines. 3. Itmustbebasedontechnicalanalysis,butitmustnotbea100% mechanicalsystem. 4. Itmusttakelessthan20minutesadaytoapplyafterlearninghowto tradewithit. Letmetalkaboutitem#3aboveforamoment,becausethisiswherealotof traderscanpotentiallylosealotofmoney. Whenyourelyonacomputertomake100%ofyourtradingdecisions,youdo notlearnhowtobecomeatrader,andyouneverwill.Instead,youlearnto followdirections.Thiscanbeextremelydangeroustoyourportfolio,because almosteverysystemI'veseensince1974hasbeenbacktestedandcurvefit, whichmeansitwillultimatelyfail,oratleastnotliveuptoitspasthypothetical results. Now,thatstatementmightgetmeintotrouble,especiallywithyoungertraders, whotendtobelievethatyoucancreatea100%mechanicalsystemthatnever(or rarely)loses.Folks,that'scalledtheHolyGrail,andaweekdoesn'tgobythatI don'tgetanemailfromsomeonewhothinkstheyhavefoundit. Bytheway,thisbecomesevenmoredangerouswhenyoubaseyourlivelihood onathirdpartyservicethatfeedsyousignalseverydaywithouttellingyoutheir "secretformula".Whatwouldhappentoyouiftheywentoutofbusiness? (Justfortherecord,IbelievesomemechanicalsystemsAREgood,atleastfor awhile,butIalsobelievetheonlywaytomaximizetheiruseisifyoutruly understandhowtotradeinthefirstplace.)
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WhatMOSTForexMethodsLookLike(NEW)
IfyoutakeacloselookatmostofthesocalledForextradingmethodsand systemsonthemarket,youllfindtheyrelitteredwithproblems.Specifically 1. Incompletemethod.ManyofthecoursesteachaTONoftheoreticalstuff, whichisallveryinteresting,butleavesyouabsolutelynostepbystep roadmaptohelpyoumakemoney. 2. Lackofriskmanagement.Verylittle,oracompleteabsenceofanyrisk management,moneymanagement,orportfoliomanagementguidelines. 3. Fundamentalanalysis.AbouthalfofthecoursesandsystemsIveseenare basedonfundamentalanalysis,whichgenerallyrequiresalotofstudying (time)andcanbeextremelysubjective. 4. Daytrading.AlmosteverycourseorsystemIveseenrequiresyoutobe gluedtoyourcomputerforhoursatatime. NOWONDERsomanytradersare"losingtheirshirts"attemptingtotradethe Forexmarkets! Canyou"getrich"usingadaytradingmethodor"blackbox"systemthat's incomplete,lacksriskmanagement,orisbasedonfundamentalanalysis?Sure youcan.YoucanalsowinamillionbucksplayingblackjackinVegas. Look...tradingisanumbersgame,andtosucceedyouneedtostacktheoddsin yourfavor.Sowhynotcontroleverythingyoupossiblycan?Whynottakethe guessworkoutofeverydecisionyouhavetomake?Whynoteliminateasmuch uncertaintyaspossiblesoyoucanremovethestressandstrainmostpeople associatewithtrading,andreplacethatwithconfidenceandpurpose?
Howimportantisittohavea tradingmentor?
Masteringgoodtradingmethodscanbedonewithoutamentor,butIhighly recommendhavingaccesstoamentorbecauseamentorcandoseveralthings foryouasaForexstudent.
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Withamentor,youhavetheopportunitytodramaticallyshortcutyourlearning curvebycheckinginwithyourmentorfromtimetotimeasyoustudythecourse materialandpracticeapplyingthenewtradingmethodstaughtinthecourseby papertrading.Thisalonewillsaveyouagreatdealofstudytimeaswellascostly mistakes. Whileyoumusttakeresponsibilityto studyandmasterthetradingmethods, yourmentorcanansweranyclarifying questionsonthecoursematerialthat youmayhave. (Caution:manysocalledForex mentorsmerelyoffercanned materialandsketchy,ifany,support. Besureyourmentoroffersa dedicatedsupportteamtoanswer yourquestions.) Anotherkeyroleforthementoristo verifythatyourinterpretationof varioustradeopportunitiesinreal timemarketsiscorrect.Icanttellyou thenumberofbeginningtradersor eventraderswithsomeexperience thatgiveuponagreattradingmethod becauseitdidntworkforme.And thereasonitdidntworkforthemisthattheywerenotapplyingthetrading methodscorrectlyinthefirstplace.Withoutamentor,thesetradersnevereven knewwhyothersweresomehowsuccessfulwiththemethodbuttheywerent. Butworseyet,thosethathadaccesstoamentorneveraskedforhelpfromtheir mentor.Eitherwaytheyendupmissingmasteringthegreatmethodthatthey havebeforethem,onlytogoontosomeothermethodthatmayormaynotbe goodandjustkeeprepeatingtheprocesswithsuccessneverhavingbeen achieved. Amentoralsoprovidesencouragementandperspectiveontherealworldof trading.Thishelpsyouovercomeanylearningchallengesalongtheway.
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Realisticexpectationsareanotherthingamentorcanhelpwith.Somany beginnersfallpronetothegetrichquickhypeandthereforeexpecttoachieve doubledigitreturnsmonthinandmonthout.Thatisnottherealworld.There willbeprofitsandlossesandgoodmonthsandbadmonths.Asadiligent student,youneedtounderstandthisandstaydisciplinedasyouawaityournext greatprofitopportunity. Insummary,havingaccesstoamentorwhilemasteringagoodtradingmethod cangreatlyenhanceyourprobabilityofsuccess.
Forexfreedominjust20minutesaday?
AsIsaidbefore,Ivebeenteachingthousandsoffolksjustlikeyouhowtotrade themarketssince2001.Backthen,therewasaTONoftradinginformationonline (andoffline,forthatmatter).Andtoday,thisinformationseemstohave multipliedexponentially.Sowheredoyoubegin?Well,tradingisavery personalbusinessandIvealwaysmaintainedthatyouneedtotradewitha methodthatfitsyouremotions,tradingstyle,andpersonallifestyle. Butwhatareweallreallytryingtoachieve?Honestly.Itsnotadigitaltrading accountpaddedwithabunchofzerosisit?Sure,weallwanttomakeaprofit(a BIGprofit,right?),butwhatweultimatelywantiswhatthatmoneycandoforus. Theressomethingtobesaidaboutlifestyle,andyouneedtoaskyourselfavery personalquestion.Whatstherightmixoftradingandnontradingactivityfor you?Whenitcomestobalancingthis,IthinkIvebeenthroughitall.Inmyearly days,whenIwaskillingmyselftocaptureprofitsdaytrading,mylifeoutside tradingsufferedandtooksomebigbruises.Irememberatleastafewtimes whereIwouldbeinaverycriticalmeetingatmydayjob,wheremyfocuswas needed100%totrulybeeffective,butmymindwouldwandertothatopentrade Ihadjustplacedanhourearlier.Sonotonlydidmyeffectivenessatworksuffer, butmytradingdid,too. AndtherewasalsoastretchoftimewhenIdgethomefromalongdayofwork, seemywifeandkidsatdinnerandthendisappearintomytradinglairwitha potofblackcoffee,asmywifeputthekidstobedandfellasleepwithoutme. Thesearesomeoftheeventsthatdrovemetodiscovertradingmethodsthat onlyrequirednomorethan20minutesanighttoapply.AndwhenIbegan
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sharingthemwiththeworldin2001,IfoundoutIwasnotalone.Therewere thousandsoftradersouttherewhofeltjustlikeme. However,thatsjustmyexperience,andmystory.Youneedtolookatyourstory anddecidewhatsrightforyou.Youmaylovestaringatchartsforhoursonend alldaylong.Ifthatsyou,Ireallyhopeitworksoutforyou.AllIknowisthatsnot forme. Buthoweveryoudecidetotradethe Forexmarkets(oranymarkets),you needtodooneoftwothingstobe successfulbasedonmyexperience: 1. Dedicateyearsofyourlifetotest, experiment,tweak,try,invent, etc.agoodtradingmethodon yourown. 2. Investinagoodtradingmethod developedbysomeonewhos alreadygonethrougheverything describedinitem1above. Waybackinthe1970s,Ididnt understandthis,soIchoseoptionone.It tookmeyearstofinallycomeupwith thecoretradingconceptsthatIknowtobetrueandeffective.Thefunnythingis, Iranintoahandfulofgreattradingmethodsthat,hadIhadtherightmindset andunderstoodtheconceptsItalkaboutinthisreport,Iprobablywouldhave avoidedyearsoflossesandfrustration. AllIknowisthatifIhadatimemachine,Idgobackintimeto1974andslapmy youngerselfinthefaceandsay,Donteventhinkaboutit.Goodmethods alreadyexist.Findthem,andtradethem.Idalsogivemyselfacopyofthis report! So,sometraderswhineandcomplainaboutspendingmoneytolearnhowto trade.Ortheymoanabouthavingtosubscribetoamonthlydatafeedservicefor goodtradingdata.Ijustdontgetit!Tradingisaseriousbusiness.Inthebroader picture,Ibelievespendingmoneyontradingeducationoronchartingsoftwareis
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anabsolutenecessityforquicklyreachingyourtradinggoals(andthankfully,with Forextrading,mostbrokerswillgiveyougreatsoftwareforfree).Sure,youcan gotothelibraryorreadeveryfreearticleyoucanfindonline.Ilookatitthisway: Youregoingtospendthemoneyonewayoranotherlearninghowtotrade; eitherinlosingtradesovertime,orupfrontingoodtradingeducation. Letmebeclear.Thisreportisnotatradingmethod.Itsmerelyacollectionof questionsandanswers.Yes,Ibelieveitcontainssomeverygoodinformationthat canbeusedwithanytradingmethodonthemarket,whetheritsyourownor someoneelses.Butthisinformationisonlyonepieceofthelargertrading puzzle. Personally,ifIcanlearnjustonenewinsightoronenewnuggetofinformation whenImevaluatinganewtradingmethod,thenwhatevertimeormoneyI investedinitwastotallyworthittome.Andasyoubecomeamoreexperienced Forextrader,youllseesomeofthesameconceptscoveredagainandagainin varioustradingmethodsandcourses.ButthatsOK! RememberwhatIsaidaboutsimplicity.Youdontneedanoverlycomplex methodtobesuccessful.Ifyoulearnjustonenewtechnique,orifyouseea familiarconceptrephrasedinawaythatcreatesnewclarityforyou,thenyour timeandinvestmentinthatmethodshouldhavebeenwellworthit.Thisis makinggradualimprovementstoyourtradingsuccessovertime,andits somethingIbelieveallofusastradersshouldstrivefor.
WhyAreYouInterestedInForex?
Asyouredigestingandassimilatingalltheinformationinthisreport,Iwantyou tothinkabouttheunderlying,corereasonswhyyoureactuallyinterestedin tradingtheForexmarkets.Formosttraders,itsbecauseyouwanttoimproveor changesomethingthatsnotworkingforyou. So,tohelpyouout,pleasetakeafewminutesandcompletethisshortactivity thatIlearnedfromStephenPierceafewyearsago.Ithinkyoullfindthatitwill helpyouclarifywhereyouare,whereyouwanttogo,andwhatitsgoingtotake togetthere.Ifyouhaventalreadydoneso,Ihighlyrecommendyouprintthis entirereportoutsoyoucanactuallywriteonitandfillinyouranswerstothese questions.Ivefoundbydoingitthatway,thisexercisewillbemuchmore effectiveforyou.
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Now,heressomegoodnewsandbadnews.Thebadnewsisthattheoddsare stronglyagainstyoucompletingthisactivity.Why?Becausemostpeoplethink theyjustneedthehardstuffwhenitcomestotrading,andspendnotime workingontheirmentaledgebutmostpeopledontsucceedinthemarkets, either.Gofigure. Andthegoodnews?Ifyoureunlikemostpeopleandactuallytakeafew momentstocompletethisactivity,thenyoullautomaticallyhaveanedgeover allthetraderswhorefusetodoit.Thinkaboutthatforaminute (Bytheway,ifyoureananalyticalpersonlikeIam,youmightfindthisactivitya littleweirdoruncomfortableIknowIdid!Buttrustme,itforcesyoutothink aboutwhatyoureallywantinlife,andthefirsttimeIdidthisactivity,itwasvery profoundforme.Soifyourefeelingalittleresistance,goaheadandsmash throughitandcommittotakingthefirststeptocreatingthefutureyouwant RIGHTNOW.)
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1. Whatisyourultimatedream?Thiscanbeanythingyouwant(forexample, retiringearly,travelingtheworld,sendingyourkidstocollege,starting yourowncharity,etc).Describeasifyoualreadyhaveandarecurrently experiencingitrightnow(forexample,Iretiredatage40andam currentlyonaworldtraveltourwithmywife.Sofar,wevevisitedItaly, Spain,andPortugal,andhave8morecitiestovisitthisyear.) _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ 2. Whatdoesyourdreamlooklike?Describeitinasmuchdetailaspossible. (Continuingwiththeexampleabove,MywifeandIarehealthyandhappy asweeffortlesslytravelfirstclassfromcountrytocountry.Aprivate limousinepicksusupateachairportwelandatwhisksusofftothenext 5starhotel.) _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ _____________________________________________________________ 3. Whatdoesyourdreamfeellike?Again,useasmuchdetailasyoucan.(For example,Itfeelssogoodtobefreeandtobeclosetomyfamily.The stressandstrainIusedtowakeupwithwhenIstruggledtomakeends meetisnowgone.Ifeeltotallyrelaxedandincontrolforthefirsttimein mylife.) _____________________________________________________________ _____________________________________________________________ _____________________________________________________________
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_____________________________________________________________ 4. Writedown5compellingreasonswhyyouMUSTtransformthisdream intoreality.(Forexample,Mykidsaregettingolder,andIMUSTspend morefreetimewiththembeforetheygrowupandmoveaway.) 1)___________________________________________________________ 2)___________________________________________________________ 3)___________________________________________________________ 4)___________________________________________________________ 5)___________________________________________________________ 5. Finally,writedown5thingsthatMUSTCHANGEinorderforyouto achieveyourdream.(Forexample,IMUSTdedicateatleast20minutes everydaytostudyingsuccessfulForexmentors,orIMUSTfindagood tradingmethodIcanrelyonsoIcanhaveconfidenceinplacingtrades.) 1)___________________________________________________________ 2)___________________________________________________________ 3)___________________________________________________________ 4)___________________________________________________________ 5)___________________________________________________________
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Now,savethesepagesandkeepthemsomewherewheretheycanbereviewed everyday.EventhoughIdidthisafewyearsago,Istillkeepmyanswersnextto mytradingcomputer.Itinspiresmetostayfocusedandontarget,andIhope thishelpsyoudothesame.
ForexSurveySummary
Itwasalotoffungoingthroughallthe questionsIgotfromconductingthis surveyonForextrading.Weallthinkwe haveuniqueproblemsandquestions, buteverytimeIdoasurveyIm remindedthatwerenotsodifferent afterall. Remembertogobackandrereadthese questionsandanswersatleastafew times.Somethingthatyoumissedthe firsttimethroughwillundoubtedlyjump outatyouinsubsequentreadings. AlsorememberthattheForexmarkets arenotmagicalormysterious.Theyre justmarkets.Period.Andyoucan potentiallypullprofitsoutoftheForex marketsjustlikewithanyothermarket. SowithagoodForextradingmethodin hand,youshouldbewellpositionedtoaddForextradingtoyourownpersonal tradingtoolkit. Idliketothankeveryonewhotookthetimetosendmetheirtopquestions.In doingso,youhelpedalotoftraderswhowillreadthisreport.AndIhopeyougot atleastoneusefulnuggetofinformationaboutForextrading.Remember,you arenotaloneinyourquesttosuccessfullytradethemarketsasalways,Iam heretohelpyou.
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ForexProfitAcceleratorReReleaseDate: Tuesday,March24th,2009
Figure39ForexProfitAccelerator
InSeptember,2007,mylongawaitedForexProfitAcceleratorhomestudycourse wasreleasedtothetradingcommunity,andall950copiessoldoutinabout10 days! Now,finally,ImabouttorereleasealimitednumberofcopiesonMarch24th, 2009.ThisgroundbreakingcourseisallaboutachievingForexfreedominjust20 minutesaday,anditwillbereleasedat10amEastern(NewYorktime)onthat Tuesday. Icantwaitfortraderstogettheirhandsonthis!Itsacomplete,stepbystep guidethatshowsyouhowtotreatthe24/7Forexmarketslikeendofday markets.Butinsteadofshowingyouhowtotradejustonemethod,theForex ProfitAcceleratorrevealsfourcompletemethodsthatdramaticallyincreaseyour abilitytopotentiallypullmorepipsoutofthemarkets.
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IMade2AstonishingForexDiscoveries
ThoseofyouwhohavebeenfollowingmyteachingsknowhowmuchILOVE TRADING!EventhoughIhaveasolidsetofmethodsandtechniquesIuseformy owntrading,Imconstantlytinkeringaroundinmytradinglab.Besides spendingtimewithmyfamily,itswhatIliketodoinmysparetime.Some peopleliketoplaygolf.Idratherbetrading. Now,becauseofmypositioninthetradingeducationcommunity,Iam approachedquitefrequentlybyothertraders,systemsdevelopers,companies, younameit.Manyofthemsendmeevaluationcopiesoftheirprogramsand methodstogetmyprofessionalfeedbackandopinion.SomeofthematerialI receiveisquitegood,buthonestly,mostofitisincomplete.ThereasonItellyou thisistoimpressuponyoutheamountoftradingmaterialIhaveinmypersonal libraryIhaveaTON,andIbelieveIveseenjustabouteverytypeofprogramon themarket. InreviewingallthismaterialandinexaminingallthequestionsIvebeen receivingfrommyreadersandstudentsaboutForex,Imadetwokeydiscoveries thatwereastonishingtome. First,thereseemstobeaflawintheperceptionofhowmoneycanbemadein theForexmarkets.Andtheflawisthis:itseemsthat95%ofallForextraders onlythinktheycanmakemoneydaytradingthesemarkets.Itactuallymaybe higher,maybe99%.Thisperceptionisverydangerous,inmyopinion,because notalltradersarepsychologicallyequippedtohandledaytrading,sotheygetin overtheirheadsandgeteatenaliveuntiltheirtradingaccountsareemptied withinafewminutesorhours.Iveseenithappen,anditsnotaprettysight. IvealreadytoldyoumyopinionondaytradingwhileIoccasionallydoday tradeandevenhaveadaytradingForexcourse,IpreferendofdayForex trading.Ifyouprefertodaytrade,thenmorepowertoyou,butthevastmajority ofmyreadershavetoldmetimeandtimeagainthatdaytradingisnotforthem, either.Andthatsgreatnews Why? BecausetheotherdiscoveryImadewashowtotreatthe24/7Forexmarketas anendofdaymarket.Thisremovesallthestressandstrainassociatedwith tradingona24hourbasis.Ithasoftenbeensaidthatifyoucantmakemoney
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tradingonanendofdaybasis,youllnevermakemoneydaytrading.Itendto agree. Butitgetsevenbetter WhenyoutreattheForexmarketsasendofdaymarkets,Ivefoundtheycan offerfarmoreprofitpotentialthantheminorswingsmanydaytraderskill themselvestocapture.Andwhenyou learntherightwaytotradeForexasan endofdaymarket,youcanquicklyjump fromonebigswingtoanotherastheyre drivenbytheForexmarketgiantsthe bigbanksandotherfinancial institutions,includinggovernments.But whilethesebehemothsreactslowlyto marketchangesduetotheirsheersize, assoonasyoulearntospotabigswing, youcangetonandridetheircoattails. Andbythetimetheyveturnedtolook overtheirshoulder,youllhavealready goneontothenextbigswing. Forexample,supposeseveralmajor financialinstitutionsthinkthatthe JapaneseYenisundervaluedversusthe dollarandthattheJapanese governmentwillsoonacttostop artificiallysuppressingthevalueoftheYen.Collectivelytheymightbeginslowly buildingwhatwillbecomeverylargepositionsinthemarketbysellingshortthe USD/JPYpair.Iamtalkingabouthundredsofthousandsofstandardlots. WhethertheJapanesegovernmentactsornot,themarketmightdropas expected,inpart,duetotheeverincreasingshortpositionsofthesefinancial institutions.Iftheyareright,wesmalltraderscanapplytradingmethodsthat willspotthesemovesandjumponboardatamomentsnotice.Wecanprotect ourpositionswithinitialstopsandridethewavetogoodprofitsifthemarket followsthroughonthedownside.Andwecanjumpoutjustasquicklyaswe jumpedin.Thebiginstitutionssimplycantmovethatfastwithoutdamaging theirpositions.
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Thebottomlinehereisthatwearepreparedtoridethetrendonthecoattailsof themegatraders,butwithalevelofagilitytheydonthaveandtodosoto minimizeriskandmaximizeprofitwhiletheyrestilltryingtounwindtheir positions. ThisisaBIGDEAL!Ifthoselastfewparagraphsdidntmakesense,pleasego backandreadthemagain.WhatthismeansisthatwiththeForexProfit Accelerator,Ifoundawaytoshowyouexactly,stepbystep,howtoidentify whenaForexpairislikelytomakeamoveUPorDOWN.Andnomatterwhich wayitgoes,Icreatedspecifictradingrulesthatletyoutakeadvantageofthose movesandridethemforahugepotentialprofit.AndheresthekickerIdont justshowyouhowtodothisoneway Igiveyoufourcompletemethods,allbasedonmytimetestedprinciples,that allowyoutoidentifyasmanyprofitabletradingopportunitiesaspossible. AkeypartofthesemethodsismyOptimalProfitExitStrategy,whichIdescribed earlierinthisreport.Ishowyouhowtouseitinexactdetailinmycourse,soyou willalwaysknowhowtotakeprofitsoutofyourtradesasquicklyaspossible. AndthatswhyIdecidedtonamemycoursetheForexProfitAccelerator becauseIshowyouhowtotrulyaccelerateyourForexprofitswithmyfour methodsthatyoucanuseindividuallyortogether,synergistically,tomaximize yourprofittaking. SothebottomlineisthisnomatterwhathappensintheForexmarkets,with theForexProfitAccelerator,youwillalwaysknowexactlywhattodoeverytime youplaceatrade.Noexceptions.Nomattertheoutcome.Itsthatsimple.
4MethodsandaWedding:Lock MeUp&ThrowAwaytheKey
Icouldnothavegottenthiscoursedonewithoutmysonandpartner,Greg.Hes amasteratunderstandinghowtoclearlycommunicateandeducatecomplicated conceptstoindividuals.Andthoseofyouwhoownmyothertradingcoursescan thankGregformakingthemsoeasytounderstand. InthecaseoftheForexProfitAccelerator,Ihadfourcompletemethodstoteach Iveneverdonethisbeforeinahomestudycourse,soIwasntsureifIwould
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evergetitdonebecausethiscourseissoHUGE.Butlikeanythingelseinlife,I setadeadlineandthengottowork.Thedeadlinewasmynephewsoutoftown wedding,so,likemanytimesbeforewhenIvecreatedmycourses,Greglocked meawayinhis$20,000professionalrecordingstudioandkeptmefedandalert soIcoulddeliverandteachmybestForexmethodsaseffectivelyaspossible. AfterIwasdone,IwasonaroadtriptoVirginiawithmywifetothewedding, whileGregfinishedthingsupathome.Idroveawayconfidentthattherewould beagreatlookingForexcoursewaitingformewhenIreturned. ButIwasntpreparedforwhatIsaw whenIgotback. HereswhatImeanwhenGregshowed methefinalversionofthecomplete ForexProfitAcceleratorcourse,Iknew wehadachievedanewlevelofquality withourhomestudycourses.Everything aboutthiscourseisthebestIhaveever seen(andImnotjustsayingthat becausethisismycourse).Thelucky fewindividualswhohavealreadybeen throughthecoursehavegivenmethe samefeedback. Imconstantlyraisingthebarinorder toprovidethebestqualitytrading informationtomyreadersandstudents, andIfirmlybelievetheForexProfit Acceleratorisbyfarthemostextensive ForextradingcourseIhaveeverseen.Iknowthatmightseemlikeabrazen commenttomake,butherearethefacts.Ivebeentradingthemarketssince 1974,soIbelieveIveseennearlyeverythingoutthere.Also,Ivebeen developingtradingcoursessince2001,andIvespentcloseto$100,000ofmy ownmoneyresearching,developing,andproducingthiscoursetomakesureits absolutelythehighestqualityonthemarket.SobasedoneverythingIveseen,I cantthinkofanyothercoursethatcomparestotheForexProfitAccelerator. Manytradersaregoingtobetotallyblownawaywhentheylearnthecontentsof thiscourse.Andnotonlythat,theForextradingeducationmarketisabouttoget
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turnedonitsear.ThiscourseisgoingtoraisethebarsohighthatIpersonally thinkothersubstandardcourseswillneedtobecompletelyoverhauledandre doneiftheyhopetocompetewiththequality,content,andeffectivenessofthe ForexProfitAccelerator. (Infact,atleastoneofmycompetitorswassoimpressedthatheprivatelytold methatheisplanningonredoingallofhiscoursesusingthesametechnology weusedtodeveloptheForexProfitAccelerator.)
HowtheForexProfitAcceleratorisDifferent fromOtherForexTradingCourses
Ikindofalreadytouchedonthisearlier,butIwantedtorevisitithere.A commonquestionIhavebeenreceivingis,Howisthiscoursedifferentfromall theotherForexcoursesoutthere?Theotheroneis,IfIalreadyhaveagood Forexcourse,doIneedthisone?Thesearefairquestions. Herearetheanswers:ThiscourseisdifferentfromalltheotherForexcourses thatIveseenbecauseitdrasticallycompressestheamountoftimeyouneedto spendactuallytrading(20minutesanight)byshowingyouhowtotreatthe24/7 Forexmarketsasendofdaymarkets.Further,itgivesyounotone,butfour complete,stepbystepmethodsthatletyoujumpontheswingsdrivenbythe bigbanksinordertomaximizeyourprofitpotential. AnddoyouneeditifyoualreadyhaveaForextradingcourse?Itreallydepends onyou.Ifyourealreadysuccessfullydaytrading,enjoyspendingtimelookingat charts,andarentinterestedinonlyspending20minutesanighttrading,then thiscoursemaynotbeforyou.However,ifyourelikeme(andmostofmy readers)andwanttolearnhowtospendaslittletimeaspossibletrading(while potentiallypullinginmorepipsthaneventhemostdieharddaytraders),thenthe ForexProfitAcceleratorisdefinitelyforyou. OnemorequestionIvebeengettingis,Isthiscoursesimilartoyourother tradingcourses?AndtheanswertothatoneisthistheForexProfit Acceleratorissimilarinitsgoalofteachingyoustepbysteptradingmethodsyou canownforlife,however,itcontains4totallyuniqueandbrandnewmethodsI designedspecificallyforthenuancesandpersonalitiesoftheForexmarkets.
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Imadesurethiscoursecouldbeunderstoodbybothnovicesandexpertsalike,so ifyouconsideryourselfthelatter,youcanprobablyskipoveralltheintroductory materialandbegintradingevenmorequickly.AndImcertainthatyoullstillfind massivevalueintheForexProfitAccelerator. AnyonewhoknowsmeknowsthatIamallaboutseekingthetruthand discoveringtradingtacticsthatWORK.Ijustdontcareabouttheopinionsor ideasofothersocalledgurus.Ionlycareaboutresults.Andthisistheexact reasonIcreatedmyForexProfitAcceleratorcourse.SoIcanteachhonest,hard workingtraders(justlikeyou)moreofthestrategies,tactics,andtrading philosophiesIhaveworkedsohardtodiscoveroverthepast30+yearsthatcan potentiallyimprovetheirtradingresultsandbottomline.Period.
HeresWhatsInsidetheBigWhiteBox
TheForexProfitAcceleratorcontains seven(7)CDROMsofhandson,stepby stepvideoscreencapturetutorialsthat willletyoudiscovertheexactstrategies andtacticsthatwillhelpyoufindthose spotsintheForexmarketswheremajor swingsareabouttobeestablished.AndI teachyouhowtopotentiallyprofitno matterwhichwaythemarketsmove.I alsoincludefourtradingblueprintsthat summarizeeachofthefourForexProfit Acceleratormethodssoyouhaveahandy, ataglancesummaryyoucankeepright nexttoyourtradingcomputersoyou alwaysknowexactlywhattodoeverytimeyouplaceatrade. Theresalsoa160pagefullcolorreferenceguidewithallthechartsusedinthe CDROMs.Mystudentsreallylovethesereferenceguidesbecauseitsveryeasy tofliptoanypagetogetaquickrefresherontheconceptsyoulearnontheCD ROMs.Also,inordermakesureyougetoffontherightfoot,Iincludea12page QuickStartGuidethatanswersthemostcommonquestionsabouthowtostudy andlearnmosteffectivelywiththeForexProfitAccelerator.
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ImcurrentlyindiscussionswithsomeofmytradingassociatesandImworking onevenmoresurprisebonusesandaddonsthatImgoingtoincludewiththe course.Idontwanttomentionanythingjustyet,butIthinkyoullbereally surprisedwhenyouseewhatelseImgoingtoinclude.Imdoingmybesttopull outallthestopstomakesureyougettheabsolutebestForexlearning experienceontheplanet!
WhyAmIDoingThis?
Someofmyreadersaskme,Bill,whydoyouspendsomuchtimehelpingus out?Goodquestion,indeed.Idospendanawfullotoftimeanswering questionsfromnotonlymystudents,butsubscriberstomyfreeemailreports, too.HeresthedealasIsaidbefore,Ireallydolovetrading.Nokidding around.Imwhatyoumightcallatradingnerd.Thosethatknowmeshouldbe surprised,however,becauseIwastrainedasanengineerandIhaveamasters degreeinfinance. Andincaseyouwerewondering,itsnot justaboutthemoney.Sure,Imrunning abusiness,buthonestly,Idontneedthe moneyfrommytradingeducation businesstosurvive.Ihaveasolid pensionfrom36yearsasanautomotive executive,IRAsand401(k)sthatpayme everyyear,andIalsohaveanother completelyseparateautomotive consultingbusinessthatrequiresvery littleofmytime,buthasearnedme morethanmostpeoplemakeworkinga fulltimejob.Soifyoupullmytrading businesscompletelyoutofthepicture, myfamilyandIareverycomfortable. Wearetrulyblessed. ThatswhywithmytradingbusinessI decidedtopaymyemployeesverywell, andIdecidedtopackasmuchvalueas possibleintoallmyproducts.Ialsobelieveingivingbackanddonatingtomy favoritecharitableorganizations.SoIthinkImreallyluckyandinaunique positionbecauseIdontneedtoputmyselfthroughanyunnecessaryfinancial
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stress,whichgivesmetheluxuryoftakingmytimetoreallyhelpoutmy students. Ivelivedanamazinglifesofar,andatmyageitfeelssogoodtobeabletohelp somanypeopleoutfromaroundtheworld.Ithinkthisismytruecallinginlife, andImreallygladImabletobeabletomentorandcoachsomanytradersso thatthey,too,havetherealpotentialtoachievethefreedomtheyrelookingfor.
CanYouDoIt,Too?
AquestionIgetaskedalotis,ImnotsureifIhavewhatittakestobesuccessful withyourtradingcourse.CanIachievethesameresultsasandbeassuccessful asyourotherstudentsare?Thisisanaturalconcernandafairquestion andherestheanswer:Youdontneed tohaveamastersdegreeinfinancelikeI do,nordoyouneedtohaveover30years ofexperienceridingtheemotionalroller coastersofthemarkets.Allyoureally needisthedesireanddrivetowantto improveyourForextrading,andthenthe abilitytopullthetriggerandtakeaction onwhatyouvelearned. Canyoudoitalone?Maybe,itcertainlyis possible.Butthequestionthenbecomes, Howlongwillittakeyou,andhowmuch moneywillthemarketsuckoutofyour tradingaccountbeforeyoufigureitout? Iknow.Ivebeenthere. ButIalsoknowforafactthatevenifyou onlylearnandapplyjustoneofthefour methodsIexposetoyouintheForex ProfitAcceleratorthatyoullbetradingwith100%confidencefromdayoneand youllalsobeusingtimetestedtradingprinciplesthat90%ofallForextraders dontevenknowabout.
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InsiderVideoBackOnlineForYoutoWatch
Ijustputbackuponeofmymostpopularinsidervideosthatyoucanwatch onlinerightnow.Its8minutesand43secondslonganditstakendirectlyfrom theForexProfitAcceleratorcourse.ItrevealspartofmyOptimalProfitExit StrategyfromoneofmyfourForexProfitAcceleratormethods. Gotothiswebpagerightnowtowatchthisbrandnewvideo:
www.forexprofitaccelerator.com/4pack
Onthatpage,underneaththevideo,youllseeabluebackstagepassaskingfor yourFirstNameandPrimaryEmailAddressthatgivesyoufreeaccesstomy PriorityPipPullerslist.Itlookslikethis:
Dontworry,youdontneedtoenteryournameandemailtowatchmyOptimal ProfitExitStrategyvideohowever,ifyouhaveanyinterestinsecuringacopyof theForexProfitAccelerator,Ihighlyurgeyoutogofillouttheformonthatpage andjointhePriorityPipPullerslistNOW. Why?For2veryspecificreasons

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1. ImlimitingtherereleaseoftheForexProfitAcceleratortoaverylimited numberofcopiesbecauseIwanttomakesurethatImabletosupportmy nextgroupofForexProfitAcceleratorstudents.Iusedthisapproach successfullylastyearwithanotheroneofmytradingcoursesandthe studentsthatwereluckyenoughtogetacopyreallyappreciatedthe personalattention.Plus,Ijustdontbelieveitsfairtosell,say,5,000 copiesofthiscoursewhenIknowinmyheartthattheresnowayIcould supportthatmanynewstudentsrightnow. 2. Imalsolimitingthisreleasetoonly7days.After7days,orsooner,Iwill removetheorderpage.Why?BecauseIdontwanttoworryabout shippingoutmorecopiesoftheForexProfitAcceleratoreveryday.Idont wanttospendtimeansweringorderingquestions.Iwouldratherputmy energyintomakingsureallmystudentsthattookactionandpurchased theirowncopyofthecourseduringthefirstweekunderstandthe materialsandhavealloftheirquestionsansweredinatimelymanner.
Now,ifyoudontgetyourcopyduringthefirst7days,Icantguaranteewhen theForexProfitAcceleratorwillbeavailableagain.Itmaybe4weeks,itmaybe 4monthsactually,thelasttimeIletinasizeablegroupofstudentswasOVER8 MONTHSAGO. AllIknowisthatifyoudontclaimyourcopyduringthefirst7days,youWILL havetowaittogetyourcopy,andmaybealongtime.Thisisnotamarketing gimmick.Heresthewebpagemydeveloperjustputtogetherformethisis exactlywhatyoullseeontheorderpageafterthefirst7daysareup:
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SoifyouhaveANYinterestinpickingupyourowncopyofForexProfit Acceleratorwhenitsreleased,youreallyneedtojointhePriorityPipPullerslist. Thetradersonthislist(basedonfirstcome,firstserved)willhavetheircourses shippedfirst. IwillevensendthePriorityPipPullersaspecialorderlinkthatwillbeactivated ONEFULLHOURbeforetheofficialreleasetime.Thatmeanstheycangettheir handsonthecourseat9ameasterntimeonTuesday,March24th.Onehour mightnotseemlikealottoyou,butIvewatchedmyowntradingcoursessell outinthepastveryquickly,soonehourmaybethatextratimeyouneedto guaranteeyoureceiveyourowncopyoftheForexProfitAccelerator. Nowforsomepricinginformation.
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SomeofmybusinessassociatesarerecommendingthatIraisethepriceofmy courseforitsnextrelease.WhileIdoplanonraisingthepriceatsomepoint,Ive alreadydecidedtokeepitatthesamepriceastheSeptemberrelease.The detailswillbeannouncedonMarch24th. Ihavealsodecidedtoofferapaymentplansoyoucansplityourinvestmentinto threepaymentsoverthreemonths.Thismakesitultraeasytogetstartedright away,andisalwaysapopularrequestfrommystudents,soImhappytodoitfor themandforyou. HereswhatelseIknowIvespenttensofthousandsofdollarsofmyown moneyoverthepastthreedecadesjustontradingeducation:books,tapes,CDs, seminars,etc.Younameit,Iveprobablyseenit.AndIvealsosacrificedthe betterpartofmyyoungerdayslockedawayinmystudy,mynosepressedagainst thecharts,tryingmybesttowatchmykidsgrowup,butquietlywishingIcould havespentlesstimestudyingandmoretimewithmyfamily.So,whileIstilllove trading,itHAStakenatollonmeovertheyears,bothonmywalletandonmy personallife.Anditwouldnothavebeenpossibletoputtogetherthe informationcontainedinmyForexProfitAcceleratorcoursewithoutthatkindof personalsacrifice.Butthankfully,youdonthavetogothroughwhatIdidwhen youbecomeastudent.Iessentiallygiveyoutheculminationofmylifesworkin themarketsonasilverplatter. Youshouldalsoknowthatmyactualpayingstudentshavetoldmeinthepast thatIshouldNOTbesellingmytradingcoursesforthepricesIsellthematthey thinkIshouldraisethepricedramaticallybecausetheydontwanttoomany peopletogettheirhandsonthisinformation.
SuccessStoriesfromMyStudents!
BackinSeptember,Iquicklysoldoutofmyinitialprintingof950copiesofthe ForexProfitAccelerator.AsIexpected,thischartergroupofstudentsdiscovered justhowpowerfulmycourseis.Anditseemsliketheywriteinnearlyeveryday totellmeabouttheirsuccess. Herearejustafewoftheirkindwords.AndImwillingtobetthatyoullbe sendingmeyoursuccessstory,too,afterafewweekswiththeForexProfit Accelerator.
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"Just wanted to let you know that I woke up this morning (12/5) to a profit of $2,228.00 on the gbp/usd pair, Instant Pips downtrend, a trade I entered only yesterday. Needless to say, this method works. I appreciate all the work you do and for letting all of us know what you're up to. You're that rare guy who truly cares about his students. This is an incredible method!" -Lee Meddin, Davis, CA*
"Have only done 2 trades to date both of which won and covered course costs. I've bought a truckload of programs and systems over the years and this is one of the few that actually works." --Peter M., Australia* "I am thoroughly happy with FPA course. I have been trading the Forex markets using your principles and trading rules set out in the course for about a month now and by and large have been very successful in making good profits... I must congratulate you once again for a fab course and it is the best investment I have ever made. Your ongoing interest in your students' well-being and success is really great. Thank you." --Rawlston W., London, United Kingdom* "First of all, let me say thank you *so* much for coming up with the FPA. I just wish I'd had it when I first started trading Forex a couple of years ago. I could have saved myself a good deal of money on trades I should have never made in the first place. I started trading live with the FPA on 10/15. I've certainly had more winning trades than losing ones. Thank you again for the great trading system and the wonderful customer support. I've already told friends of mine who trade Forex about it; they can't wait for your next release so they can get in on it!" --Laura G., Lakewood, CO* CopyrightProfitsRun,Inc.
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"I'm very glad my father and I decided to buy FPA in September. On October 9th we did our first trade. Until now we made 12 trades only with 1/4 lot and the profit is amazing, more then $4,000! And that in 5 weeks. Now we are confident with the system we are ready to trade with more money. The system was easy to learn, after one week we could make our first trade. I appreciate the updates, and the extra tactics. We are going to use them too." --Frans & Ingrid H., The Netherlands*
"I have to confess this is by far the most profitable and user friendly trading method I have come across. I am more than exited about my future in Forex trading since I enrolled in your profit accelerator program. Many thanks to you and your team for this tremendous job." --Fred B., South Africa*
"So far, about 55% net gain with just the Instant Pips method! Very satisfied. I like your time-saving and conservative approach very much. Course is very easy to understand and I love the colored quick reference cards." --Ted R., Tokyo, Japan*
"I commenced trading the Forex Profit Accelerator live in October. I found the course to be very well-presented and thorough in its content. I have really appreciated the follow-up you provide and the bonus videos. I have been trading Forex for about 2 years and until doing your course I was very unhappy with my performance. I was trading short time periods and was really getting tired of looking at charts all night trying to capture a few pips. Now that I am trading on a daily basis I am really enjoying it as I do not have to spend hours in front of my computer. I really appreciate the way all 4 systems work together. Again, thank you for a great educational package and keep up the good work." --Garry M., Australia* CopyrightProfitsRun,Inc.
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"In my demo account I started trading using the FPA on Oct 12th. In that time I have closed a total of 24 trades with a net profit of 1,140 pips and I currently have three open positions with profits of 409 pips on the Euro, 534 pips on the Swiss Franc and 350 pips on the Yen. Not too shabby! I'm impressed." -Doug M., British Columbia*
"After 1 month of paper trading, I'm up 85% on a $10K portfolio. I appreciate the prompt responses to my numerous questions." --Dave C., Petal, MS* "I have implemented 3 of the methods on Metatrader and have made over $7,000 on 5 winning trades - no losers yet... it could have been a lot more if I had taken all the trades triggered. It has been very useful to have your Pip Feeder to verify my signals. Thank you for the high quality of the presentation and explanations. It does a lot for confidence levels to know one is using a quality product that has been thoroughly researched as well as the knowledge that you are continuing to support us." --Peter A., South Africa* "What can I really say about your FPA program? Just one short sentence would suffice, and it is, 'brilliantly super'. I have paper-traded it and made paper profit of more than $6,000 in three days. Thanks, Bill, for introducing the FPA to me and developing a system that is far superior than I have come across in this age of dime-adozen of new so-called winning systems that are literally flooding the market. Keep on the good work, Bill." --Jeff F.*
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"I have been paper trading since I received it, and have made about a $12,000 profit. It is a very easy to understand and complete method. Much better than I have had from other systems. Thank you very much for this system, I will be using it from now on. " --Yvonne F., Mohave Valley, AZ*
"Wow, what a program. I have just retired after 39 years of teaching and was looking for something to do. You gave it to me on a silver platter. I have been doing very well paper trading. I think if I were live with my trading, I would be paying for my health insurance right now. A couple of more weeks and I think I'm going to put some real money into the market. That is a scary thought for me but I feel confident with your system and with your support I will make some serious pips. Thanks for all you are doing and keep the faith!!!" --Jim M., Red Lion, PA*
"In my demo account I started trading using the FPA on Oct 12th. In that time I have closed a total of 24 trades with a net profit of 1,140 pips and I currently have three open positions with profits of 409 pips on the Euro, 534 pips on the Swiss Franc and 350 pips on the Yen. Not too shabby! I'm impressed." --Doug M., Maple Falls, WA*
"It's been going great. For the first time in the few years since I've been trying to trade the Forex, I have the confidence to place the trade and let it go. Knowing exactly when to get in, where to place stops and when to get out along with just looking at the charts EOD fits my personality." --Randy M., Chattanooga, TN*
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"In my first 2 weeks I had no losing trades. You know exactly how much money you're risking before you go into the trade. I'm very, very impressed so far with my results. I've always wanted to quit my job and become a full time trader... with FPA I will be able to achieve my goal. This really can be done in 20 minutes a day." -Robert Cormier, Auburndale, FL*
"I started paper trading two weeks ago with $50,000 and I am up to $70,000 with no losing trades yet. I have sent in my application to open an account and plan to start trading with real money soon. I am very impressed with the system so far. As a matter of fact, I am considering buying all your other products as soon as I make enough (real) money to pay for this one." --Robert C., Columbus, GA* "Admittedly I had my doubts about the course, but since I started using the program I found that I can consistently make profits. I have one goal and that is to make a minimum of 2% of my portfolio a week. I have been able to do just that and a lot more with this program. I love the four step program (set-up, entry, stop loss, exit). These four steps help me stay focused and keep my emotions out of the trade. This is my third time starting over in the Forex market. I have come to realize that the two previous times I did not have a complete trading method. With your program, I have the confidence that I finally have a complete trading method, the knowledge to use that method, and the knowledge to recognize other complete trading methods." --Eric N., Nottingham, MD*
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"I am doing very well with the system. I am getting around 200 pips a week so far on paper. Thank you for developing the system." --Doug, Australia* "I am loving your FPA course. Also, I have just purchased your Quantum Swing Trader course and can't wait to get my teeth into it. Great work, Bill." --Rawlston W.* "I must say how much I am impressed with your level of integrity. You have done everything that you said you would do - especially the tight number of teaching materials that were sold. You set down a deadline, and you kept the deadline. If it were not for duplicated orders that paved the way for 44 or so unsold packages, I would not have been able to obtain the CDs. You credibility was further enhanced when I listened to the interview that I downloaded from the web today. By the way, I must say that the quality of the CDs is really very good - the presentation itself and the content." --Syling L., Murrieta, CA* "I appreciate all the work you do and for letting all of us know what you're up to. You're that rare guy who truly cares about his students. This is an incredible method!" --Lee M., Davis, CA* "Love the methods and course. Having a lot of fun learning. Never even knew what Forex meant until I read your e-book and your course is making it easy to learn and actually understand how to trade." --Sean D., Morris, IL* "I have asked many questions as a new student and customer support has been excellent. Thanks for your patience and instructions." --Wayne E., Lakeland, FL* CopyrightProfitsRun,Inc.
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"I wish I would have seen this 3
years ago, it would've saved me $8,000. If you want to do something other than work all the time, this would be the way to go. You have everything you need. The support that you get is unbelievable. For the price you have to pay, it's very cheap. You're going to become the CEO of your own company. Buy the program, and your future will look bright." -Jim Miller, Red Lion, PA*
"I think it is excellent and very well done. You have done a great job in setting it all out and explaining it." --Weston B., New Zealand* "I am very, very pleased with your whole program. This material you put together is extraordinary. I appreciate the constant updates and feedback you are giving us; it bolsters moral 10 fold. Thanks for the many tips and tutorials." --Courtland D., Tampa, FL* "Thank you for the details provided in the package. I want to confirm to you that I have already made three times the cost of the package in just a week. Once again, I sincerely thank you for your assistance and love." --Mohammed S., London, United Kingdom* "Thank you so much for being the real deal." --Jerry C., Modesto, CA*
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"I was indeed impressed with the material contained in the course, particularly in the quality of the CD presentation modules. I have no doubts that this is the most sensible purchase I have made for my trading education these last 10 years. Great job!" --Keith D., Australia* "You have been a lot of help and there is much love for you here." --John T., Port Orchard, WA* "Amazing array of to-the-point study material, especially in the way it is presented. Written theory backed up by visual practical training on the graphs, just like having my mentor standing at my side, although we are an ocean apart. Great job, and my commendations to both you and Greg for providing me with an heirloom to pass on to my family." --Mike G., South Africa* "To date I have purchased from you Super Divergence Blueprint, Instant Profits, Quantum Swing Trader, MMPP, and now Forex Profit Accelerator. You know what I have found? They all work! The good thing about creating quality products that really work and being a person of integrity is that when you create something new - such as the Forex Profit Accelerator - people who know you and have bought trading systems from you before will want to deal with you again. This Forex Profit Accelerator course looks phenomenal. I didn't think anyone could top the MMPP course, but this looks just as good as or better than MMPP. One of the things that I am really excited about with the FPA is that the trends tend to go on for long periods of time. I am hoping that gradually, using these methods, I will be able to leave my job and just spend 20 minutes per day as you have suggested. Thanks, Bill, for this!" --David H., British Columbia, Canada*
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"I am extremely pleased w/ the
results. Following your trading methods I have gotten back what I paid for the course 4 times over within the first 4 weeks. You make the course so easy to understand with the cd's and trading examples along w/ the manual for quick reference. Thank you for your support and sincerity. After I fully learn and have mastered this program I intend to look into your other courses." -Darwin M., Roseville, CA*
"I have had your course open and have been studying it from the minute that it arrived at the house on the 26th of September, 2007. This is by far the most complete trading course that I have ever seen on Forex. Thank you for your email as it suggests to me that number one, you care, and number two that you have integrity. I don't mind paying for a course when the person who's selling it cares, and has integrity." --Wayne P., London, United Kingdom* "I am very excited about these methods, and trading in general. I wish to thank you for your guidance." --Ernie W., Hermiston, OR* "Great course, by the way. After spending tons of money on other courses without results, I find your course very powerful yet easy to understand. Thanks for your excellent course, Bill." --Robert M.*
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"My FPA package arrived here in Auckland, New Zealand a week ago. My first impressions were of quality and professionalism, both in the written manual and in the production of the CD's. Thank you very much for making such a fantastic course available. My first Forex transaction (using NZ dollars to purchase your course in USD) will be the best Forex trade I'll ever make - it will be the key to unlocking many more trades in the future which will repay that initial transaction many times over. Thanks again for a brilliant course." --Steve M., Auckland, New Zealand* "Congratulations on another great product. My success with QST prompted me to try the FPA product. I have gotten through the first two strategies. Again, a wonderful presentation of a great system and rules." --Kurt B., Ponte Vedra Beach, FL* "Your crystal clear presentation of the methods absolutely rocks! High-class education." --Hans D.R., Sweden* "Course pays for itself in first two days of trading. ABSOLUTELY AMAZING! My first two trades were: Long 2 EUR/USD, Instant Pips for a 45 pip profit on 10/9, Short 2 USD/CAD, Pip Maximizer 2 for a 46 pip profit on 10/4. Thanks for a great course. I was really unsure about how useful the information would be compared to its cost, but I'm a true believer now." --David V., Sugar Land, TX*
*Norepresentationisbeingmadethattheseresultscanorwillbeobtainedinthefuture,orthatlosses werenotincurredsubsequenttothedateonwhichthetestimonialwasprovided.Thereisasubstantial riskoflossassociatedwithtradingforex,futures,stocks,andoptions.Onlyriskcapitalshouldbeused.
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TheMegaTrendsMyStudentsHaveBeenEnjoying
IfyoumissedoutonyourchancetograbmyForexProfitAcceleratorduringits lastrelease,heressomeofthepippotentialthatyoumissed.Checkoutthese megatrendsthatalloccurredsinceSeptember,2007thatyoucouldhavetaken advantageofbyapplyingtheForexProfitAcceleratortradingmethods.
Figure40USD/CAD9/07to11/07:Over1,300PipsofProfitPotential*
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Figure41USD/CHF8/07to11/07:Over900PipsofProfitPotential*
Figure42USD/JPY11/07:Over900PipsofProfitPotential*
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Figure43AUD/USD01/08to04/08:1,400PipsofProfitPotential*
Figure44EUR/USD02/08to5/08:2,100PipsofProfitPotential*
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Figure45USD/CHF01/08to03/08:2,200PipsofProfitPotential*
Figure46USD/JPY01/08to03/08:2,100PipsofProfitPotential*
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Figure47USD/CHF11/08to2/09:2,160PipsofProfitPotential*
Figure48USD/JPY11/08to1/09:764PipsofProfitPotential*
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Figure49EUR/USD10/08to1/09:2,524PipsofProfitPotential*
Disclaimer: Hypothetical performance results have many inherent limitations, some of which are describedbelow.Norepresentationisbeingmadethatanyaccountwillorislikelytoachieveprofitsor losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performanceresultsandtheactualresultssubsequentlyachievedbyanyparticulartradingprogram.One ofthelimitationsofhypotheticalperformanceresultsisthattheyaregenerallypreparedwiththebenefit ofhindsight.Inaddition,hypotheticaltradingdoesnotinvolvefinancialrisk,andnohypotheticaltrading recordcancompletelyaccountfortheimpactoffinancialriskinactualtrading.Forexample,theabilityto withstandlossesortoadheretoaparticulartradingprograminspiteoftradinglossesarematerialpoints whichcanalsoadverselyaffecttradingresults.Therearenumerousotherfactorsrelatedtothemarkets ingeneralortotheimplementationofanyspecifictradingprogramwhichcannotbefullyaccountedforin thepreparationofhypotheticalperformanceresultsandallofwhichcanadverselyaffectactualtrading results.
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Finally,Imsoconvincedthatyoullbenefitfrommynewcourse,Imgoingto haveamoneybackguaranteeonthepriorityenrollmentformwhenitsreleased tothepubliconTuesday,March24th,2009. Well,thatsaboutitforthisreport,myPowerForexProfitPrinciples.Ireally hopeyouvefoundsomevalueinthisreportthatwillhelpyouinyourtrading. DontforgettowatchthefreevideothatrevealsmyOptimalProfitExitStrategy. AnddontforgettojointhePriorityPipPullerslist.Heresthewebpageagain whereyoucanseethevideo:
www.forexprofitaccelerator.com/4pack
GoodTrading, BillPoulos P.S.YoucantracktheprogressoftheForexProfitAcceleratorreleaseandmake commentsontheinformationinthisreportbyvisitingtheForexProfit Acceleratornewssiteatwww.forexprofitaccelerator.com/news2.
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TheForex4Pack
ReadyformoreForextrainingmaterials?Goaheadandaccesstherestofthe Forex4Packmaterialsbelow: EssentialForexTrading&SoftwareBasics (Releasedate:Friday,March13th,1009) Irecordedthisvideoseriesespeciallyforbeginner Forextraders.YoulllearntheessentialbasicsofForex trading,alongwithalivewalkthroughofsomeactual tradingandchartingsoftware.Isticktowhatyou needtoknow,soyoucanbegintradingASAP. AccesstheEssentialForexTrading&SoftwareBasics videoshere: www.forexprofitaccelerator.com/4pack TheForexRiskShield (Releasedate:Saturday,March14th,2009) TheForexRiskShieldreveals4timeswhenyou probablyshouldNOTbeplacinganytrades. Remember,youwanttomaximizeyouroddsof success,soknowingwhenNOTtotradewill automaticallygiveyouasortofriskshieldtokeep yououtoftrouble. AccesstheForexRiskShieldvideoshere: www.forexprofitaccelerator.com/4pack
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(Releasedate:Sunday,March15th,2009) ThereareplentyofForexbrokersallovertheworld youcanchoosefrom.Thisisntsurprising,giventhe hugepopularityofForextrading.Butthischoicealso presentsachallengehowdoyouknowwhich Forexbrokerstotrust?Tohelpyouout,Icreateda 10pointscorecardyoucanusetoevaluateany Forexbrokerontheplanet.DoesyourForexbroker passthetest?Usethescorecardtofindout. AccesstheForexBrokerScorecardhere: www.forexprofitaccelerator.com/4pack
TheForexBrokerScorecard
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Power Forex Profit Principles: SPECIAL NOTE: This Is The March, 2009 Update

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Power Forex Profit Principles: SPECIAL NOTE: This Is The March, 2009 Update

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doneforareason.Youknowwhattodo,nomatterwhatthemarketdoes.Every singletime. Itsawesome Forexismorepopularthanever.Letstakealookattheaveragedailyturnoverin theForexmarketsoverthepast20years.

IhearalotaboutForextradingandamvery interestedinlearningmoreaboutit.Canyougive meabriefoverviewofthebasicsofForex?

Forexseemstobequitedifferentfrom tradingstocks.Whatarethebenefitsand risksincomparisonandwouldamuch biggeraccountbeneeded?

Whatisthebesttradingplatformand chartingsoftwareforbothbeginnersand moreexperiencedtradersalikeandwhere shouldIobtainthemostreliabledata?

Iamnotabletodedicatethetimeittakestoday tradethemarkets.IsitpossibletotradetheForex marketsonanendofdaybasissoIcantake advantageofthemarkettrendswhileworkingmy regularjoborwhensleeping?

targetsisverystressfulanddemandingofyourtime.Whilesometradersprefer daytradingandareabletohandleitsrigorsandhavethetimetoallocatetoit, otherspreferendofdaytradingthatcanbedoneinaslittleas20minutesaday whilethemarketsarequiet. Letslookatacoupleofexamplestomakethispoint.

HowisitpossibletotradetheForexmarketsonan endofdaybasisusingdailybarchartswhenthe marketsarealwaysopen?

Figure4showsaplotofadailychartfortheEUR/USDpairusingVTTraderwhich isarepresentativechartingsoftware/tradingplatform.Onthischart,eachbar representsonedaystradingactivityfromthehighpriceofthedaytothelow

Sowhatdoyoudo?Well,thefirstthingistorealizethatthereisnomethodthat canforecastwhetherornotaparticularmovewill: Goagainstyouimmediately Gouponlyalittlebeforegoingbackdown Goupalotinyourfavor

Thisatypicaldaytradingtimeframewherethedaytraderattemptstocapture 20to50pipsofprofitsometimeduringtheday.Thisoftentimesrequiresseveral hoursofmonitoringthemarketinordertospotanytradeopportunitiesthatmay bepresentthemselvesthatday.Thedailyrangefromthedayshightothedays lowwasabout90pips

HereyoucanseeatypicalmegatrendthatbeganinearlySeptember07and didntenduntilearlyNovember07,lastingover8weeksandprovidingover1200 pipsofprofitopportunity.Nowthatisamegatrendbyanydefinition.Compare

Heresanotherexampleofanintraday10minutebarchartwithadailyrangeof about80pips.Daytradingthischartrequirespotentiallylonghoursandlimited opportunity.

opportunity.Andoftentimesthesemegatrendswilloccursimultaneouslyacross severalForexpairs.Thedifferenceinopportunitiesbetweendaytradingand endofdaytrading,especiallywhenyouconsiderthatitonlytakes20minutesa daytotradethedailybarcharts,speaksforitself.

Figure24showsanindicatorwindowthatisusedtoplotanyoftheover100 technicalanalysisindicatorsavailable.Inthisexample,MovingAverageSimple hasbeenhighlighted.Thiswillbringupawindowaskingfortheparametersfor thisindicator,inthiscase,itwouldbethelengthofthemovingaverage.

Oncethelengthparameterisentered,aclickofthesubmitbuttonwill immediatelyplottheselectedmovingaverageonthepricechart(Figure25). Otherindicatorscanthenbeaddedasdesiredinthesamemanner.Also,itis

Andthereareofcourseseveralotherchartingsoftwareandtradingplatforms availablewithotherbrokerswithalmostallofthemworkingverysimilartothese examples.Letstakealookatanotheroneofthem,VTTrader,inthenext section.

Hereisatypicaldailybarchart;inthiscaseitisfortheAUD/USDpair.Iwilluse thischarttodemonstratehowtoplaceamarketordertobuythispairandthen howtoplaceastoporderprotectingtheposition.

Inordertoplaceanordertobuyatthemarket,werightclickonthechartabove thecurrentmarketpriceandthenawindowpopsupasshownonthischart. Next,selectBuyinthepopupmenu.

Hereyouwanttoenterthenumberoflotsyouwillbebuying.Inthisexample, wewillplaceamarketordertobuy1standardlot.(Theprocedureforaminilot accountwouldbethesame,exceptyouwouldbebuying1minilotinstead.)So youjusttypein1intheamountperaccountrowandclickOK.

Thiswindowisrequestingconfirmationthatyouwanttogoaheadandplacethe order.JustclickOKandyourmarketorderwillbeimmediatelyplacedand becauseitisamarketorder,itwillbefilledimmediatelyatthecurrentask price.

Withinthiswindowyouthenenteryourstopprice;inthiscase,weentered 0.8744,meaningwewanttosellthepositionifthemarketdropstothatprice. Andthenleftclickthesubmitbutton.

ThenanotherwindowwillpopupcalledRequestforConfirmation.After reviewingyourordertoconfirmthatitiscorrect,goaheadandleftclickonthe OKbuttonandtheorderwillbeentered.

Now,savethesepagesandkeepthemsomewherewheretheycanbereviewed everyday.EventhoughIdidthisafewyearsago,Istillkeepmyanswersnextto mytradingcomputer.Itinspiresmetostayfocusedandontarget,andIhope thishelpsyoudothesame.

Dontworry,youdontneedtoenteryournameandemailtowatchmyOptimal ProfitExitStrategyvideohowever,ifyouhaveanyinterestinsecuringacopyof theForexProfitAccelerator,Ihighlyurgeyoutogofillouttheformonthatpage andjointhePriorityPipPullerslistNOW. Why?For2veryspecificreasons

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