Have you heard news stories about the Forex currency exchange market and the staggering profit potential it contains?
Would you like to trade a market with huge profit potential even (and especially) when the economy is in bad shape?
If you answered yes to any of these questions, you’re going to get all the information you need to enter the high profit potential world of forex trading right here on this page.
Since forex trading involves predicting the direction of "currency pairs" like the USD/EUR, a winning trade is always possible in all economic conditions. In fact, unstable economic conditions can cause even more activity in the forex world, creating huge profit potential trades on a daily basis for the savvy investor that is wise to risk management techniques and is willing to seek out high probably trading trends while avoiding choppy markets that contain higher risk and lower profit potential.
You’re probably here because you either don’t know what Forex is, exactly…or because you know a little and want to know how to actually start trading.
This letter is going to go over the basics of Forex trading as well as what it takes for you to start making actual trades.
If you’re tired of sitting on the sidelines and only hearing about stories of people making money in Forex, that’s about to change forever….
When you think of Forex, you may immediately relate it to trading stocks but that’s not the case. Forex is much different than trading stocks.
Forex is also easier to understand so that anyone with any experience level can take part in Forex trading.
By and large, Forex is much easier for the little guy or gal to manage since there are only a few major currency pairs to trade, with plenty of research available to draw on for your own trading decisions.
Becoming an "expert" on just one or two currency pairs would give you plenty of opportunities to trade day in and day out no matter which way the currency pair is trending.
Compare this to trying to stay informed about the thousands of different stocks in the stock markets, and you will get some idea of why a lot of individual investors are flocking to forex trading in droves.
Also consider the hopelessly out of date buy-and-hold stock trading strategy which has destroyed many a retirement plan with recent economic downturns, and forced millions of people to go back to work when they should have been relaxing after a lifetime of effort. Does it really make sense to continue with a buy-and-hold stock trading strategy any more?
The forex markets move more quickly than stock markets, and you have to get in and out of trades with more frequency, but compare that to being "stuck" in a buy-and-hold strategy that just doesn’t work anymore and realize that a faster moving market gives you unlimited flexibility to chart your financial future.
Complicated charts cluttered up with all kinds of indicators might help you forecast the market. The market as it was prior to producing those charts, that is.
Are all these "lagging indicators" really going to help when the market changes on you? Although these types of strategies may work in some markets, using long and complicated charts that can become irrelevant at the drop of a hat may end up confusing things more than it helps…
The truth is that improperly used technical indicators DO NOT reflect market changes quickly enough to be of much value to most Forex traders. They lag behind the market just enough to cause some real problems.
People like you and I are very different from the big commercial traders. The big dogs trade thousands of lots at a time, worth millions of dollars. They trade for banks, governments, and large corporations. They trade for people who do not accept failure.
The big time traders survive by being in the right place at the right time. They can’t afford to be wrong. Big time traders are able to see major trends days and even weeks before they take place. They anticipate tomorrow’s market, not yesterday’s market.
They don’t see ahead like that by relying on technical indicators and black box systems. They can’t afford to waste that much time. They can’t afford to be behind the market. They can’t afford to be inflexible.
What do they do instead? They pay close attention to price action while finding major support and resistance levels.
Back in the late 90’s Forex wasn’t an Internet sensation. There weren’t hundreds of people trying to teach the “right” way to trade Forex and in the process confusing a fairly simple procedure.
That was a… Read more…