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Forex Trading doesn't have to be confusing and complicated. This FREE REPORT tells you, in everyday language, how to get started trading online in the Forex Market

Forex Trading doesn't have to be confusing and complicated. This FREE REPORT tells you, in everyday language, how to get started trading online in the Forex Market

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    Forex trading system secrets   free  report Forex trading system secrets free report Document Transcript

    • Forex Trading System Secrets Copyright2012 – Miroslav Brezinsky Limits of Liability / Disclaimer of Warranty:The author of this information and the accompanying materialshas used his best efforts in preparing this course. The authormakes no representation or warranties with respect to theaccuracy, applicability, fitness, or completeness of the contentsof this course. He disclaims any warranties (expressed orimplied), merchantability, or fitness for any particular purpose.The author shall in no event be held liable for any loss or other 1
    • damages, including but not limited to special, incidental,consequential, or other damages.This manual contains information protected under InternationalFederal Copyright laws and Treaties. Any unauthorized reprintor use of this material is strictly prohibited. We actively searchfor copyright infringement and you will be prosecuted. 2
    • Table of ContentsChapter One An Introduction To ForexChapter Two The History of ForexChapter Three Forex TodayChapter Four Understanding Currency ConversionChapter Five The Candlestick ChartChapter Six Understanding Market TrendsChapter Seven Forex Volatility And Market ExpectationChapter Eight Your Forex Future 3
    • Chapter One – An Introduction ToForexOf all the methods and systems for making money online,perhaps none is as popular and widespread as "Forex." Forexrefers to the trading of International currencies and makinga profit from the difference in the respective exchange rates.The word "Forex" is a combination and contraction of twowords "foreign" and "exchange."The old saying, "Where theres smoke, theres fire" isespecially applicable to Forex currency trading. Becausethere is a lot both. Every day millons of trades are conductedon the only truly Global unrestricted financial market.Owing to the fact that Forex profits are derived from thedifference in the exchange rates between the currencies ofcountries, there is no "central authority" governing the Forexmarket. Because of this, its very difficult to manipulate theForex market. In comparison to the stock market, which canbe, and is regularly manipulated by the most powerfulinvestors.The amount of money exchanged every day with Forextrades are truly staggering. Anywhere between 1 trillion and1.5 trillon U.S. dollars. An astronomical amount, to be sure.Seemingly daunting to the non-expert wanting to participate.But the good news is, you can get a piece of the "Forex Pie"with no risk. Owing to the fact that many Online Forexbrokers offer a practice account. Usually with $10,000 or soto get up to speed.This will allow you to “get your feet wet” without riskingdrowning! 4
    • Chapter Two – The History of ForexWhile even non-traders are familiar with the term “Forex” itslikely you dont know that the Forex market is an indirectresult of the Vietnam war. For the lowdown we go backthrough the mists of time to 1971. The Place: BrettonWoods, Nova Scotia, Canada.The United States proposes to the other Major Nations of theWorld that they tie the value of their currencies to the (then)mighty U.S. dollar. Which was mighty because it was backedby Gold. In other words, the U.S. treasury did not(then)print more money than its equivalent in Fort Knox.The other Nations agreed. But soon, as often happens withpositive agreements, the Bretton Woods Agreement wentSouth. The reason: the Vietnam war. Saddled with anenormous war spending debt, a man named Nixon took theU.S. off the gold standard, and the Government printingoffice(treasury division) went into overdrive.Printing money like there was no tommorrow. What therewas - was, predictably - Massive inflation. Which caused theother signatory nations to the Bretton Woods Agreement, to 5
    • wave it, and the "mighty" U.S. dollar a big, and definite "byebye."This was the beginning of the Forex market, as the Worldsother countries began establishing values for their currenciesbased on National economic conditions. The obviousconsequence was a difference in the value of one countriescurrency, relative to another. Thus the phrase "exchangerate" entered our language. Followed Swiftly by "ForeignExchange." Which, even more swiftly, was shortened to"Forex."These “early days” of Forex trading were more complicated.Due to the number of players on the European market, andthe mind-numbing number of respective currencies. At thattime you had the franc,the pound, the lira and countlessothers to contend with.However this situation was improved in 1992 with theemergence of the European Union, which established theEuro in 1999 as the currency of record across all of Europe.With the exception of Britian, still clinging to its poundsterling.Chapter Three – Forex Today 6
    • With this simplification of the currency conversion process,the “landscape” of the Forex market became more easilytravelled. Now, the main countries trade in five currencies:U.S. dollars, Australian dollars, British pounds sterling, theEuro, and the Japanese Yen.As you would expect from looking at these currencies, themajor players include the majority of the European nations,the United States and the Asian markets. Japan isparticularly present here. And Australia has also joined theForex foray. Chapter 4: Understanding Currency ConversionLike any new business venture, youll need to begin with abasic understanding of how it works. With Forex this meansnoting the values of different currencies and studyingdomestic market trends as well as foreign ones This will giveyou the basic prepartion necessary to understand and act inthe area of currency conversion, which is the “bottom line” inForex trading.Working With Multiple Currencies 7
    • Now that you are “armed” with a basic understanding ofcurrency conversion and market trends, your next task willbe to get a basic idea of current rates of currency exchange.Happily, this is not difficult. And more good news – its free.Youll find more sources than you can possibly use on theinternet. Comparing this information should give you a fairlyaccurate “baseline” from which to operate.Forex-SpeakLike any specialized profession, Forex has a language all itsown. One of its most unique and amusing words is the “pip.”Not, as you might imagine, referring to the seeds of an appleor lemon!In Forex trading a “pip” is the smallest fraction, or decimal,in which a currency can be traded. The U.S. dollar is oftenexpressed to the hundredth of a cent (the fourth decimalplace).Another commonplace word that has a different and uniquemeaning in the “Forex Language” is “yard.” As you mightexpect, it doesnt refer to that expense of grass behind your 8
    • house where your lawn chair resides. In “Forex-Speak” -“yard” refers to the quantity of currency as opposed to itsvalue and is equivalent to one million units of the currency inquestion. So, while a “yard” of Euros and a “yard” of Yenare the same quantity, there is no equivalent value betweenthe two.Forex TrendingGetting into the Forex Market is a lot like a sailboat trip. Thenight before the voyage, you check the weather forecast.Look at the barometer. Note the condition of the sea. Pourover your charts. Check the boat to make sure everythingswatertight. And, above all, that you have life preservers.Its the same with Forex. Except, sadly, there are no lifepreservers! So youll want to make doubly certain yourpreparations are the best they can be. Or it is your wallet –not your life that will feel the pain!Like your sailboat trip, youll want to pour over charts. But ofcourse they wont be the nautical variety. Solid informationfrom experts is what you need. And its easily obtained.Informed opinion in newspaper financial pages; listening toand comparing the advice of market analysts will prepareyou for your “Maiden Forex Voyage.” 9
    • This “financial intelligence” will help you track marketingtrends and make educated predictions about where themarket may be headed. Giving you the ability to decidewhen to buy and when to sell.Chapter Five – The Candlestick ChartOne of the most useful “weapons” in your Forex info arsenalis something known as a “Candlestick Chart”.These chartsare basically a combination of a line graph and a bar graphthat show the trend of various stocks, indexes, or otherinterests over a specified period of time.This will easily allow you to determine if a stock is up ordown, when the last major change in its journey occurred,and how long its likely its present path will continue.Not only will the Candlestick Chart give you currentinformation, but with it you will also be able to researchcommodities, prices and market trends for years past. This“historical data” will enable you to see “the big picture” withregard to whatever the object of your search may be.The Candlestick Chart will help to answer your questions andconcerns, and help to determine if its a good idea topostpone your action on a particular possibility until the 10
    • market takes an upswing, or whether its better for you toact now.Chapter Six- Understanding MarketTrendsLike the stock market, the Forex market is also affected byrumours, innuendo, and, of course politics. A rumour that alarge company is in financial difficulty can send its shares ona one way trip to the basement. Creating an opportunity asits share prices plummet.Also, when countries have a downturn in their ecomonies,the resulting depression and inflation will create adevaluation of its currency.Wars and natural disasters can, and frequently do, producesimilair effects.Bottom Line : If you dont already act from the boy scoutmotto: “be prepared” - now is the time to get with thatprogram!By paying attention to World events, social trends, and, yes,rumours, youll be “prepared” for currency fluctuations andbe ready to profit from them. 11
    • Chapter Seven : Forex Volatility and Market ExpectationGiven that the tendency for fluctuation is much stronger –and often occurs faster - in the Forex market than on thestock market, what can you do to prepare for thiseventuality?The short, and honest answer, is to understand , as preciselyas possible, the reason for the flucuation. This will enableyou, armed with your research of current and past trends, tomake an informed action decision.There are two principal causes for the volatility of the ForexMarket. The first, and most obvious, is a deliberate currencydevaluation by a Government. You may recall Russiaattempted this in 1998 - announcing that they intended todevalue the ruble. The obvious consequence was thathearing this news, the Russian people rushed to their banks.And in one day the ruble fell by 25%. Bad news for theRussian economy. But good news for Forex traders who hadtheir fingers on the pulse of World events. 12
    • The second, and usually most unpredictable variable incurrency exchange rates is the interaction of the currenciesthemselves. For example, a currency with a history of greatstability may, inexplicably experience devaluation. Therecould be any number of reasons. But none of them matter.The end result – the downturn – is what youll have to dealwith.Again – be a boy scout - “be prepared!” This is your best,and only “antidode” to “market fluctation fever!” Yes, it willtake experience. Not to mention a certain amount of“intestinal fortitude.” You must act, when it is time, in yourbest judgement to act.Dont second guess yourself. Just do it! Yes, sometimesyoull be unsuccessful. Sometimes youll make a bad call. Butthe more action you take, the more success youll have inthe long term. Isnt that so with anything?Bottom Line : Constantly changing currency conversion ratesand market volatility ensure that there will be no certaintieson any given day in the Forex Market. If youre good withthat (and do your homework – daily) Forex will be good foryou. 13
    • Chapter Eight – Your Forex FutureWhile it"s true that enormous returns are possible withForex, (Ask Warren Buffet or George Soros) they are usuallythe result of enormous and long term investments byextremely experienced traders. (Think Warren Buffet andGeorge Soros.) If youre not in the billionaire/millionaireclass, the cold shower of reality is that your returns will berelative to your investment. And if your idea of a Forexinvestment is less than three digits, frankly youd be betteroff buying a lottery ticket.Bottom line: There is no “free lunch.” But there is a real,honest and accessible opportunity to make money online,wherever you choose, with Forex Currency Trading.More GOOD NEWS!To aid novice traders gaining knowledge and experience,most Online Forex Brokers offer a practice account. Thisenables new traders to familiarize themselves with thesystem, trading "virtual practice money" and not their lifesavings. 14
    • Then, when theyre ready to start trading with their ownmoney, theyll have (at least) a basic understanding of whatworks and what doesnt. Allowing them to begin their tradingcareers with confidence borne of experience.Special Bonus:Discover how to build a sustainable FOREX business online thatgenerates income for you each month. This is NOT a scam or a"get rich quick" program. This is a the method I use myself.http://signup2text.com/recommendsETForex Resources:All of the following can be of value, depending on HOW youchoose to trade:Forex Striker Historys first patented Forex RobotOption Bot Binary Options IndicatorMillion Dollar Pips An automated pips systemElectroForex Forex training and advice 15