Monday, June 14, 2010

Forex can make you financially free

Forex can make you financially free
The Most Lucrative Part-time Job or Home Based Business Ever
The Forex market is relatively new when compared to the traditional
stock market. The Forex or Foreign Exchange Currency Market was open to the
public in 1998. In a year it will be a decade old. This is one
of the major reasons most people do not know about the Forex.
The first reason why you should take a closer look at the
opportunities in the forex market is because of its liquidity
estimated at $2 trillion daily. The other reason is that it is
traded 24 hours of the day and 6 days in a week and participation is
open to all, from individuals like you and me to very large financial

With the economic situation of our day worldwide, where there are no
more job guarantees it is not unusual to wake up one morning and find
oneself jobless. In such times, there is an increasing need for a lucrative
part-time job or home based business. This is something that you can had
absolute control over.

There are of course a multitude of money making opportunities out
there, but to be factual, it is very difficult to find a real
opportunity which will allow you to make a living from your home
computer. Even when you do, you would have to spend hours
doing market research and invest large sums of money to bring it to
fruition. That is if you have not gotten involved in a scam project.
Most of the opportunities on the web today, even if you make big
profits, may be held by someone else. In other words, when you
participate in those turnkey businesses, you do not have control.

In addition to all the "fire your boss today" opportunities, there is
a program on CNBC called Mad Money that seems to begetting to the
masses and unknowing students to invest in the stock market. In
reality this is a very expensive experiment especially for student
that do not have a lot of capital. Buying a Goggle stock for $400.00
a piece is very expensive given that your capital can be wiped out if
the stock goes against you by 100 points. That money could be better
invested in the Forex positions (trades).

The forex market which is also called FX is not really as difficult
as it seems. There is not that much technical vocabulary to learn,
and the risk is considerably low, if you compare it to the other
markets. If we assume that you have 40% loosing trades, you still
have 10 trades left to bring you profit.
The fact that part time job and home businesses seekers should really
consider is that you can choose when to trade, how much to trade and
where you want to trade; all you need is an Internet connection, and
you are ready to tap in the biggest market of the world with $ 2
trillion activity everyday in the same way banks and large corporation do.

Contrary to the trading of stocks, you do not have to start with a
$1000.00 capital. You can start with as little as $250.00.
When you trade a mini lot (10,000 units) of e.g. GBPUSD currency pair
your entry ticket costs $28.00. So when the pair goes your way 1
point, you are $1.00 in profit and vice versa.
You can also trade lesser trading units and you can trade for as
little as $1.00. It is therefore possible to turn a $28.00 investment
to a profit of $100.00 in 24 hours if the currency moves in your
direction 103 points. Imagine been able to do this 2 times a week. In
a good week, this pair moves an average of 400 points.

The Forex market is not a get rich quick scheme it is easy to learn
and understand. It is also easy to make money in the forex if you let
someone dedicated to your success teach you.

Mercedes made more money with FOREX trading than with car manufacturing this
year. It is a good way to make $100(0) a day.

Trade without money for 3-6 months on paper, than when you learn

start trading real money. Dont be greedy. 10-20 pips a day is enough.

Start with $250 and build it up to thousands slowly. When you

become a successful trader, you can live anywhere on the planet,

and never have to be dependent on a JOB (Just Over Broke).


Download Metatrader 4 from:


Read and study the whole thread.

20 pips = $20 a day
20 pips = $200 a day
20 pips = $2000 a day

George Soros from Hungary come to this country and made billions on Forex.
In one single day he made 1 billion ... really the sky is the limit ...


Here is the thread:

Let me known your results. This is my gift for you all.

Some traders searched for years unsuccessfully for this gift.

You can learn this on your own in few days.

I am artist and a philosopher with no talent for numbers. But you

dont need any talent for this, just follow the rules.



Here is the detailed description of how to install this system
in to your Metatrader:

First down load Metatrader 4 or Strategybuilder FX MT4 (there is a downloads
link at the top of the page on this forum. My understanding is that the
Metatrader 4 and Strategybuilderfx 4 are the identical. Once it is
downloaded then double click to open it and make sure it is
operational...then close it down.

Now go to click on "Indicator
downloads" which will open up the list of indicators.
If you left click on the top one (SHI Channels) you will probably get text.
So right click on it and you'll get a drop down on "Save
target as..." (I found that sometimes when I did the right click first I
would not get the window that contained "Save target as" so I found that I
had to left click first...then click back and then right click), now you
will see a "Save as" window.
In the "Save in" window at the top you want it to read "Local Disk (C). Here
is how you can get it to say that without typing it in... click on the arrow
at the right side of the upper box. You will now see a drop down
it you will see "Local Disk (C)". Click or double click on it and it should
then open up it the "Save In" box at the top. Now in the contents below you
will see "Program Files". Click or double on it and "Program Files will now
be in the "Save in" box (Ifound that if I clicked on the little file folder
to the left of the text, it opened easier). Below you'll find
"Strategybuilderfx 4 or Metrader 4". Click or double click on it and
"Strategybuilderfx4 or Metatrador 4 will now be in the "Save in" box above
with it's contents showing below. Find "experts" below, click or double
click on it and "experts with appear in the "Save in" box above. Now you
will find "indicators", on which you will click or double click and
"indicators" will now appear in the "Save in" box above with nothing in the
large area below.
Down at the bottom right corner click on "Save" you are finished
downloading that indicator.
Now go back to the ForexOvereasy indicator download page and download the
next indicator. You should find that when you click on "Save target as" it
will take you directly to the last step, with "Indicators" already in the
"Save in" box, so all you have to do is click on "Save" and its finished and
you're ready to download the next indicator. Don't forget to go back to the
home page and download the "New Stuff".

Now that your indicators are all downloaded, go ahead and open your
"Strategybuilderfx4/ Metratrader 4.
On the left side under "Navigator" click on the + next to "Custom
Indicators" which should open up and show you lots of indicators which
include the ones you just downloaded. Right click on an indicator and then
click on "Attach to chart". Do the same with all the indicators that you
want to add...and you should be ready to go.
You can switch the chart over to candlestick by clicking on the candlestick
indicator at the top just to the right of center. I suggest you do this
I find this tradestation a little difficult to use but that may be because
I'm not used to it. It has lots of features.
If you find that you want to delete an indicator, just right click on it and
click on the "Delete indicator" line. (Some of the charts may already have
some indicators installed that you may not want.)
I have some charts where the candles are very close together and some that
are just right...and I haven't figured out the remedy.

Here is the chat thread, but dont complicate a great system, which cant be

On this one page you have it all. If you follow the rules, and control your
greed, you will become independently wealthy with this system. You are
extremely blessed to read this page, as millions of new traders gave up from
a lack of a good system. Many professional trader millionaires said, that
this is the best system and if you cant work with this system, FOREX is not
for you!

See this chart how I made 50 pips (it could be $50 at start, $500 or $5000
every day) :


I see most people trying to make a system that should generate 1000 pips or
2000 pips per month, and try to enter every possible move. But the fact is,
if you want to make $18 million in 5 years, all you need is discipline and
100 pips per month. Don't believe me? Read on....

Assuming that there are 20 trading days a month, 100 pips would be an
average of 5 pips per day. It doesnt matter if you do day trading or
positional, if you do 1 trade or 100 trades, all you need is a system that
can consistently make 100 pips for you every month.

1) You need a system that can make 100 pips consistently every month per

2) Opening balance would be $500

3) Trade is done only in mini lots

4) 0.1 lot is allowed for every $500 balance. So if you have $1000 you can
trade 0.2 lots and if you have $5000 you can trade 1.0 lots and so on.

5) Emotions like greed, fear and hope have to be barred out.

6) Once you made 100 pips in a particular month, you do not have to trade
till the month is over. So if you make 100 pips in 2 days, you can quit for
the entire month.

After 12 months you will have $3,100
After 24 months you will have $26,000
After 36 months you will have $230,100
After 48 months you will have $2,050,300
After 60 months you will have $18,278,700

Suprised ?
So maybe you'd say no system can make 100 pips consistenly per month. OK,
lets say if you were right. Would you agree with me that its comparatively
easier to make 10 pips per month? Even if you target 10 pips per month, you
would yet end up with $1.8m in 5 years using the same methodology.
Trading is like painting a canvas, you should step back and try to look at
the bigger picture than a trade or a single day alone. It is so true.

So get rid of your greed and trade with nothing but common sense. Plz see
the attachment for the break up of gains per month.

Make Forex Education Your Top Priority

Make Forex Education Your Top Priority
I have been doing a ton of reading this summer. This is not atypical for me.
Reading is a way to continue my education and renew my focus on the task at
hand. I have recently been exposed to several Forex training evaluation
sites, as well attended some of those FREE Forex workshops you see on TV
(some of them are still calling me!). It got me thinking

. "What advice can I provide to all those who are eager to learn the
currency market with all that information out there without getting burned?"

I have come up with 3 Golden Rules to follow when evaluating currency
training opportunities.

1. Know Thy Self - This is probably the most important advice I can provide.
There is good training and bad training. Often the worst training has the
best marketing plans. First figure out how you best learn information. Are
you the type of person that can read a manual on rocket science and build a
spaceship or are you a person that needs to be shown things through personal
instruction and repetition? Figure out how you receive and process
information and align Forex training source that fits your method of

2. Don't Believe the Hype - There is no golden system and it will take
considerable effort to trade currencies successfully. Accepting these
realities before embarking on your Forex Journey can save you tons of money
and more importantly time spent climbing up the learning curve! If it sounds
too good to be true, then it probably is. This should be no surprise! It is
buyers beware market out there. Look for a Forex education company that can
provide you with some solid aftercare resources.

3. Be Realistic - It is a journey and all good journeys take time to develop
and flourish. This can be a remarkable journey, but one where you are apt to
lose your account a few times before you surrender to the market and learn
to take what the market is offering for profits that day. Listen to
recommendations, but make decisions based on your own criteria, because in
the Forex market this skill will serve you well!!

When reading internet-based sales letters or infomercial or forums, just
remember that everyone has an opinion, but in the end the only one that
matters is your!!

Happy Trading!!

Where Do We Go From Here?

Where Do We Go From Here?
Well, US non-farm payroll numbers where released, the market reacted and now
all the traders have retired for the weekend. For the record, US non-farm
payroll (NFP) rose by 121,000 in June. A figure I was personally watching
this morning, the revision from May (which I thought was low) was revised
from 75,000 to 92,000. Also, average hourly earnings increased to 0.5% from
0.1%, which to me reflect employers more willing to pay overtime than take
on new employees.
No USD friendly numbers!

So, where do we go from here? I am not an expert on Forex fundamentals. I
do, however, recognize the importance of fundamental analysis in maintaining
and confirming the long-term technical view of the currency pairs I trade.
Can the long awaiting sentiment change in the USD finally be upon us? Before
you get comfortable in your range-trading strategies here are a few points
to consider for your summer trading.

The Federal Reserve - My favorite people (ha, ha, not!). Will interest rates
continue to rise or will Bernanke and crew take their collective foots of
the economic breaks?

Economic News - Do the NFP numbers signal a slowing economy and can we
expect trade balance to narrow and foreign capital flows into the US slow?

Energy - Will the EU spat with Russia over energy policy have a greater
impact on the global economy? Will the North Atlantic hurricane season be as
devistating as last year? With another rough season forecast, it is sure to
spook investors!

World Politics - Will the geopolitical situation in Iran and now North Korea
be another reversal factor? Will Afghanistan's reviving insurgency rival the
intensity in Iraq?

I don't know the answers, but as we progress in the month I am taking a
keener interest in the fundamentals. I do declare myself a technical trader.
I am looking for chart patterns, wave patterns and am still best friends
with Mr. Fibonacci. However, I am learning to appreciate fundamentals more
and more to the point where I now incorporate them as an additional
confirmation in my trade plan.

Technicals are the rudder of the sail boat, but fundamentals deliver the
wind to the sails!!

Happy Trading!!

July USD Outlook

Here is what I see as a possible July USD Outlook
Possible end of tightening cycle
No Federal Reserve meeting - No interest rate
Q2 GDP will likely drop below 3% vice 5.3% in Q1
Wave 5 extension beginning EUR/USD and GBP/USD

July could be a rough month for the USD!

Forex and the Job

So you live in the western part of North America (I trade from Phoenix,
Arizona) and you have discovered the power of trading the Forex market. Your
passion runs so deep that almost instantly you are convinced that you want
to do this full time. You get your requisite training and are ready to trade
your live account. Just one problem . the job is keeps getting in the way!
Those of us who live in the Western part of the United States and Canada
have a unique challenge when it comes to currency trading. Our time zones
are not conducive to trading the European session and our window is small to
trade the New York session before we must pack it up and hit the road. The
Asian session is perfect timing, but not very active in the currencies
rookies tend to focus on first.

I absolutely love trading the European session, but I am wasted the entire
day from lack of sleep. I am very selective when I trade with London,
because you ALWAYS want to be focused and on top of your game when trading!

Here are some simple recommendations to help you through your transition

1. Do Your Homework! This is valid with any trader, but for those of us who
have a small window to trade peak hours need to be prepared to take
advantage of any pips the market is offering up. This is really not a
disadvantage. This can build and nurture a most profitable habit.

2. Go to Bed Earlier! It is very important to get your rest and trading in
the Pacific Time zone requires an early wake up call to trade the London-New
York overlap session. I awake 4:00 am pacific time to make sure I am awake
and prepared when New York opens.

3. Develop a Solid Exercise Plan! I find when I am in decent condition I can
get an additional 2 hours more of focused time out of my day. Those two
hours I dedicate to making myself a better trader.

4. Find Your Trading Style! Synergize your trading style with your trading
session. If you are like me and primarily trade from the 15-minute, 1-hour
and 4-hour charts the European and New York sessions are my bread and
butter. I use the Asian session to do my homework. If you are a position
trader a whole new set of synergies come into play.

5. Be confident in your analysis. When I first started seriously trading
currencies and juggling the job I found I had done my homework, planned an
entry only to miss it because it occurred while I was in the middle of my
mid-morning meeting. I learned very quickly to get comfortable with entry

As you can see from these simple examples that becoming successful in
currency trading requires two key elements.

Persistence will allow you to climb the learning curve and learn from your
Change of mindset to not allow life to dictate the level of your currency
trading success!

Happy Trading!!

Conquer the Crash

Conquer the Crash
A Book Review

"Conquer the Crash"
By Robert R. Prechter Jr.

If you have been trading the Forex market you will have no doubtlessly come across R.N. Elliott's Wave theory. In this book Robert Prechter, President of Elliott Wave International, details a compelling economic theory using this wave analysis. Prechter walks us through a technical, social and fundamental analysis of past economic events in a manner for which prior wave analysis is not necessary. He is leading us toward a prediction of future economic events which will leave you staggering! His stunning conclusion of an upcoming economic downturn not seen since the Great Depression will leave you thinking not only of future planning, but also of current events. Warning aside, there are a myriad of strategies outlined in this book that, once deployed, can not only allow you to survive this economic apocalypse, but flourish despite the odds.

The blog is dedicated to Forex education. During major economic downturns your financial education will be the difference between prosperity and struggle. This is must reading for traders and investors alike!!

Click Here to obtain your copy of "Conquer the Crash" by Robert Prechter.

Click Here to preview the lastest Elliott Wave International Market Perspective.

Happy Trading!!

FX Education & Training

FX Education & Training
I have been receiving an ever increasing amount of emails for those of you interested in having dialog about Forex trading strategies. Of course you can email me at I have several sites with a different emphasis within the Forex Education and Training umbrella.

FX Trade Central
This is my mother ship Forex Education and Training website. The focus on this site is to provide an approach or methodology for learning to trade currencies. I also provide a running Forex course evaluation for a comprehensive approach to learning opportunities. Click Here now to view this site!

This is my premiere training site. This is where I learned to trade currencies and am an active participant in the Online Trading Rooms where the real training takes place during active market hours. Click Here now to view this site!

Forex Journey – Blog
Frankly this is where I can talk about anything I want. I try to relay my personal experience is learning the Forex market, as well as tips and tricks along my journey. I will always be a student of currency trading. Don't click here because you are already there!

If you missed my posting on what the heck is a Lens just search back in the May/June archives. I have two lenses which are designed to provide more of a focus on my trading ( and why Forex trading is the next great frontier ( The Forex Journey Lens is the only site I post excerpts from my trading plan and current trade set ups I am evaluating.

Your risk management strategy resides between your ears. Don't listen to any sales pitch claiming one system is easier than others. It really lies in a simple formula. Dedication and perseverance! It is not as easy as the sales people make out, but it is also not as hard as the naysayer claim either! You education is truly a lifetime financial skill! No matter where you get your forex education, just get it! It is your most important investment.

Keep the emails coming! Your feedback matters!

Happy Trading!!