I have 2 major Forex announcements for you that were just
announced.

1. On next Monday, September 14th, at 10am Eastern, a brand
new Forex training course will be released to the trading
community from one of its most respected educators, 35+ year
trader Bill Poulos.

* It’s called, “The Forex Time Machine”, and you’ll want to
get a copy when it comes out.

(I’ve seen a preview copy, and it’s packed with some of the
best no-nonsense, “what works now” Forex training I’ve ever
seen.)

If you saw Bill’s “risk eraser” training videos (& companion
“cheat sheet”) he released a few days ago, then you’re
probably as excited as I am about the way he teaches you to
“erase risk” on every Forex trade you make.

If you missed these videos, you can still see them here for
awhile longer:

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f8

I’ll have more info soon on the Forex Time Machine, but for
now — MARK YOUR CALENDAR for Monday, September 14th, so you
don’t miss out.

2. To celebrate the release of his new course, Bill is going
to GIVE AWAY the first copy to one fortunate trader…

-and it could be you.

To be considered for the giveaway, just go here:

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f7

(That takes you to his private, invite-only training website
- it’s simple.)

That’s all for now. I really hope you absorb Bill’s
complimentary training videos if you haven’t already. He
reveals some pretty profound concepts in them that will
definitely help out your Forex trading.

I have a 3-part Forex training “kit” for you that’s online
RIGHT NOW…

You may have already seen Part 1, which was released last
week & shows you how to “erase risk” on every Forex trade
you make.

Well, Part 2 was just released today & it reveals the 6
steps that you need to do to make sure you’re AUTOMATICALLY
protected when you trade…

-regardless of your experience level, the method you use, or
the type of trader you are (day trader, end-of-day trader,
etc.)

And to make sure you really “get it”, the entire process is
mapped out on the 3rd part — a slick “cheat sheet” that you
can print out and keep by your trading computer, so there’s
no second-guessing.

* As a bonus, you also get an inside look at an actual LIVE
Forex trade that puts this 6-step plan into action so you
can experience “risk erasing” firsthand.

This is some of the best “complimentary” Forex training
you’re going to see this year, and I don’t expect it to stay
online forever, so go ahead & get your hands on it here
right now:

http://www.forextrainingmaterial.com/y/?i=1042601&u=4&l=f6

(That link takes you to the private training website where
Part 1 was posted last week. It’s an “invite-only” link.)

Good Trading,
Joe

p.s. There’s also a major Forex announcement on Part 2 of
this video training that I’m REALLY excited about.
Seriously, this is some KILLER training. Check out what
folks are saying about Part 1 (there are over 300 comments
like this on the training site!)

“This is the most sensible information I have ever heard
about currency trading.”

“Now I’m glad I signed up for your emails. This video was
very informative and enlightening. You have revealed so many
simple errors that one can make while trading and how to
avoid them. Keep it up. Looking forward to part 2. Cheers!”

“Really thnx an amaz.ing video from an am.azing trader thnx
and CANT WAIT TO SEE PART TWO”

“It’s a most wonderful video I’ve seen talking so deeply on
how to erase risk while others talk on how to minimise it. I
recommend this video for all active traders. I’ve gained so
much from it. Cheers.”

“every and each second of this video was a rich lecture. I
appreciate your great effort.. thanks and regards.”

“Very enlightening stuff. Probably the best information i
have had on how to manage risk effectively in forex trading.
Thank you.”

Get access here:

http://www.forextrainingmaterial.com/y/?i=1042601&u=4&l=f6

Why Forex Time Machine? It is a complete trading system Forex Time Machine is most recent Foreign exchange course that teaches 3 separate trading techniques that you can apply to any time period. This is actually incredible — it isn’t important if you are a stock trader, an off-the-cuff trader , an end-of-day trader – these techniques work across multiple timeframes. In reality, you will find you can do almost all of your trading activities in less than 20 mins a day if you would like ( the casual trader or end of day trader ) or you can trade as often as you would like.

New to Currency exchange Trading? We have got you covered… For those that are new to currency exchange trading, the Trading and Basics part of the Forex Time Machine course is a refreshing, detailed look into the world for foreign exchange trading. All of the key subjects that you will have to get going are covered in this module. You may discover what a foreign exchange “pair” is, the simple way to trade the currency exchange pairs, ways to master the technical indicators that are employed in the techniques, the easy way to manage leverage and margin properly, understanding and idendifying trends, and much more. This seventy five minute segment will answer any beginner question about currency exchange and foreign exchange trading and when you are done, you can be in a position to take on the markets! Learning Expectations? Know precisely what to expect…

Learning foreign exchange can take an incredible effort – so in the Background and Overview section of the Forex Time Machine, you will find precisely what you should be expecting to gain from the course and the path you will take to get there.

You will discover the six foreign exchange pairs that are most fitted for trading with the Forex Time Machine techniques and you can even jump right in the water with detailed trading examples — this instant immersion will surprise you as it shortens your learning curve significantly. Foreign exchange trading Strategy 1 – the 1st system covered in the Forex Time Machine course is the Breakout technique. Breakout is intended to capture short term profits on trades typically lasting only 1-5 bars. This technique’s goal is to capture 10-50 pips per trade and minimize your risk exposure. You will learn the way to plot the technical indicators and the way to use the entire rules to the strategy so you can identify the setup conditions, the entry and exit points and where to put first and continuing stops. Once you are finished getting a handle on the Breakout strategy, you can see what I mean about having a trading methodology that you own for life. Foreign exchange trading Method 2 – The 2nd foreign exchange trading system covered in the Forex Time Machine course is the Momentum Technique . This technique is meant to capture trends that are ‘heating up’ in the foreign exchange markets.

Standard trades will last from 2-6 bars, and have profit goals of 25-100 pips. Again, you may learn the entire rules for setup conditions, entry and exit points and stop loss targets, together with plotting the technical indicators for this technique. As you can see, if you were learning Forex Time Machine at this time, you would already have 2 trading strategies with different methods to attack the markets.

So, let’s add a 3rd method! Currency trading Method three – The third strategy covered in the Forex Time Machine course identifies trend reversals and works to guard you against fake ‘with the trend’ signals. Everyday trades are in the 2-6 bar range and target profits of 25-100 pips. You can learn the way to apply the indicators to this strategy, the way to identify the setup conditions, when to get in and when to get out of the trade, and the way to manage your stop losses to snatch to most profit potential. So there you have 3 separate strategies to take on the foreign exchange markets – but remember, each technique instructs you how to go LONG or SHORT the market…so truly you have 6 methods to trade the currency exchange markets in ONE SINGLE COURSE. But we are still not done, because in the last segment, Bill teaches you the most significant aspects to changing into a successful trader — these are lessons which will last you a lifetime and lessons he has developed over his very own 35 years of trading.

Bringing it all together – Risk Management This part of the Currency exchange Profit Accelerator course is one of the finest which has ever been made and actually the most vital. You’ll spend a major period of time teaching yourself on risk management, its significance and the way to incorporate it into your trading plan.

In all of the trading education, from courses to books and videos, failure to follow Risk Management rules is the number one KILLER Pathogen for most traders. If you are not followng risk management rules, you are certain to lose your cash quicker than those that are. You will learn how to shield your account balance and the best way to protect each trade you place.

That is awesome considering there are 3 different strategies you can work with. But when you hear the feedback about Forex Time Machine – and I do – I hear three common themes about what traders like MOST in the Foreign exchange Profit Accelerator course : – it is a complete trading technique.

Forex Time Machine teaches the exact setup conditions, precise entry rules, intial stop rules and different exit systems for every one of the 4 strategies it contains. Traders love this because most strategies out there don’t provide this ( though many are now starting to copy me ) — and without each of these elements, setup conditions, entry, exit and stop loss rules, no technique should ever be considered complete. – It contains 3 unique trading strategies. Many traders are surprised by this because most courses out there hardly teach foreign exchange traders a single strategy — and yet, Forex Time Machine teaches 3 unique techniques. The most significant aspect here is that the 3 strategies it teaches gives forex traders more chance to maximise their profit potential without accelerating their risk. – It teaches Risk Management. This is one of the most complete, yet simple to comprehend teachings on Risk Management on the market. The postulate of getting rid of risk in each trade is the latest ’secret weapon’ for successful forex traders who have worked out the easy way to beat the banks and brokers.

In the Forex Time Machine course, not only do is it simple to comprehend and implement the danger management strategies, but you may find out how to incorporate it into YOUR trading life – that’s education you’ll own forever! Here is a quick overview of what you receive in the Forex Time Machine trading course.

Bringing it all together – Emotional Control Next learn the significance of DISCIPLINE and the way to get Emotion out of your trading. Your goal is to learn how it’s possible for you to exert more control over yourself to guard your trading activities and to make better calls when trading.

Actually, this is the most complete course, that covers all of the critical subjects, from Basics to the trading techniques to chance management. Currency trading Plans The Forex Time Machine also incorporates unique Foreign exchange Trading Plans . These plans make it super simple to plan and place your daily trades.

The plans lay out the step-by-step guidelines to follow for every one of the techniques and will seriously scale back your time in the ditchs — you will get so good at trading with the plans, you are going to be able to do it in less than twenty mins. Complete year of Student Support Profits Run continues to pass some time and money building the best student support team in the bizz after you have become their student.

There is not any feud on this point : if you have questions, their support staff has answers. They’re prompt and intensive when responding. That is critical, because most ‘gurus’ just about vanish after you have acquired their course. One hundred percent Guarantee But perhaps the most surprising part to the Forex Time Machine course, according to other traders, is the ninety day refund. We haven’t found anyone else doing this. You will get three full months to check Forex Time Machine and take it for a test. And, if you decide to not keep it, they take it back, no questions asked. Forex Time Machine – Sum up The Forex Time Machine is one of the most complete, complete trading strategies on the market. New currency exchange traders, old currency exchange traders — does not matter — there are lessons and systems for everybody in this course. Following the step-by-step instructions is a breeze and gives you total confidence in getting a grip on the 3 different methods. Forex Time Machine should get your nod for the best foreign exchange trading Methodology on the market. Check it our for yourself, and make us aware if you accept.

http://www.forextrainingmaterial.com/y/?i=1042601&u=4&l=f6

You’ve likely heard the term foreign exchange lately – it is starting to become one of the most up to date trading trends in the markets today. That’s a trend we suspect will continue but today, I would have liked to take a few moments to indicate why as well as why you need to take advantage of trading foreign currencies.

Just a couple of years back, the foreign exchange markets were dominated by the giant brokers and major banks around the planet. Today, the ‘little guys’ have got in on the action – and the expansion in currency trading has increased from $1.9 trillion to nearly $3 trillion in that short space of time ( that’s the typical daily turnover in the markets – a 50% expansion in turnover ).

But why should you trade Forex?

First, the currency exchange markets are highly liquid ( in the major pairs ) and have a strong tendency to ‘trend’ regardless of what is happening in other markets ( stocks, commodities, bonds ).

That liquidity also creates incessant volatility – and the volatility is where the ability to profit from those trends happens. The greater the volatility, the bigger the profit potential.

2nd, the exchanges have been beaten down, rallied, fallen, rallied – and there are robust suggestions that another ‘fall’ is coming. The doubt in these markets is keeping them from a particular direction, or trend. In the currency exchange markets , however , traders don’t have to fret about’bull’ or’bear’ markets – the currencies are always in a trend ( whether up, down or sideways ).

furthermore, the financial upheaval driven by the credit tightening and the enormous state responses means investing or trading in the stock markets will never be the same – but these same events helped to create even bigger opportunities in the foreign exchange markets.

foreign exchange trading is not without risk – and frankly, the general public approach the currency exchange markets totally wrong. The current business and financial conditions make this one of the best times to take on currency trading, but only if done properly.

35+ year trading vet and currency exchange educator, Bill Poulos, has latterly released a new video on the RIGHT way to approach trading currency exchange.

See, most traders go into forex trading with the idea of getting rich fast. And they come out pretty poor.

What Bill shows you is how to get into trading currency exchange by managing risk FIRST and taking profits SECOND. It’s extremely turning the currency exchange community the other way up.

Watch this free video – see whether you disagree with him :

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f2

We were chatting with some currency exchange traders about one of the Problems inspiring them while their trades were ongoing and found a standard issue – watching winning trades become losing trades.

As we’ve discussed before, if you are not handling your foreign exchange trades, from entry point to exit point, you are going to see this happen to you – and it’ll likely occur often .

Here’s the base of the issue :

A trade is entered along with a preliminary stop loss. What most traders do is try to get ALL their profit at once, but they don’t actually have a ‘target’ -

When the trade initially gets moneymaking, many traders will ’screengaze’ – they get targeted on how much they have made or are making at that moment. What they don’t do is plan for exiting the trade – they overstay in the trade and often watch their profits evaporate when the market turns against them ( and then compound that mistake by staying in EVEN LONGER to ‘get back’ those lose profits ). This is a losing offer in foreign exchange trading.

in short , they let greed make them lose sight of the point of the trade.

what’s the point of a trade? To maximize gain and minimize risk – it IS that easy.

Maximizing gain doesn’t mean you exit a trade at the comprehensive ‘Top’ – it means that for the duration the trade is on, you have a set of rules that establish where you may exit for profit – and it isn’t where you suspect it is! More on that in a bit

Minimizing risk means more than only setting that 1st stop loss – you MUST manage your stop losses throughout the period of a trade.

When currency exchange traders enter a trade they must protect their capital first and think profit 2nd. When their position starts trending up, they can take the right action to protect their capital AND their profits.

In fact, most successful currency exchange traders presume they’ll lose on each trade. They perform this psychological trick to make sure their risk plan is always top of mind! Once a trade turns in their favor ( much to their surprise ), the 1st steps they take is get themselves into a break-even trade situation ; followed by assertive stop loss management to maximize their profits on the trade.

They think risk first, profit 2nd.

Watch this video to see how it’s done :

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f2

One of the dirty little secrets in the forex market over the previous couple of years has been the big expansion in supposed’robot’ trading – androids are nothing more than automated programs that work off fancy mathematics based primarily on historic market patterns.

But there’s a real problem with androids : they do not work.

Oh, you may hear all the fancy talk about how so-and-so turned $10,000 into $ 150,476 in just 7 days

but it’s not true. It’s hype and it’s based totally on ‘hypothetical’ historic trading.

Fact : Most foreign exchange traders who use forex bots LOSE money.

Truth : androids lose money because they have disproportionate RISK MANAGEMENT rules built into them.

What the androids go after are tiny, quick profits – 3 pips, 7 pips, 9 pips. And over the course of a chain of trades, the Robot’s ‘Winning Percentage’ will be awfully high – 85-95% winners.

BUT the androids have a deadly issue : their stop losses are out of line with classic reward to risk ratios, usually on the order of 15 or 1:10 ( that suggests you, the trader, are hazarding $10 to win $1. In betting, this is often known as’sucker betting’ and you’re the sucker. ).

here’s what’s really going on with those androids : The stop losses are set so wide that ONE TRADE can wipe out the profits from those’85%’ winners. That is because the gains you are making on the winners are miniscule compared to the losses you take with the built-in risk – or lack therein.

mucky little secret 2 : The proportion of winning trades is inversely proportionate to the reward:risk proportion. The higher the share of winning trades, the lower your reward ratio ; the lower the share of winning trades, the higher your reward ratio.

this suggests if a Robot makes a claim to have 90% winning trades, your reward to risk ratio will be around 1:10.

Truth? Don’t fixate on ‘winning percentages’ – concentrate on handling the danger in each trade and keeping the reward to risk ratio in YOUR favor.

Watch this video proof of how this concept can radically change your currency trading :

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f2

I had an opportunity to chat with Bill Poulos today and posed that question to him. Did you know what he said?

‘most experienced forex traders wait too long to move stops to protect their positions and frequently watch their profits disappear.’

And that wasn’t all – he went on to explain a simple concept, similar to Gambler’s Ruin that permeates the foreign exchange trading world.

fundamentally, once a trader sees profit in a trade begin evaporating they get only targeted on getting back the lost profits. They forget to see the need to protect the profits that they still have in the trade. The result? A reversal continues, the once-profitable trade becomes a bad trade and the trader’s disappointment mounts.

I have seen this myself and it’s the easiest trap to fall into, because you convince yourself that the Euro dollar just hit that intra-day high and it can get back up there! Except – it doesn’t and it continues to drag back till your 20 or 30 pip gain turns into a 20 or 30 pip loss.

that could be a pretty grim example – but have you had that happen to you?

What do you do?

Bill had an answer for that, too!

he said most traders don’t know what the available profit potential is for any single trading event – that is, they don’t set profit targets which allow them to take what the market gives them and then exit the trade in multiple steps. And, without a method that protects capital first and manages profits second, there is not any way the average forex trader can survive in the foreign foreign exchange markets.

in order to position yourself correctly, traders MUST have a multi-part system – one that teaches them the way to identify the BEST available trades, clearly sets out a profit target, helps manage the taking of those profits and from the outset, teaches traders the way to protect their precious capital!

He calls this handling risk first, taking profits second – and it’s truly revolutionary thinking.

Watch the 1st part of his new, free video series on this here :

http://www.yourforexangle.com/y/?i=1042601&u=4&l=f2

Currency trading takes place thru major banks, market makers, and brokerage hourses around the planet, who together make a marketplace for trading currencies on a near 24/7 basis.

The foreign exchange market is always’open’ ; it’s the 7-Eleven of the trading world and is the largest finance network in the world with daily average turnover totaling trillions of dolaars.

it is also an expanding market, as more traders turn to foreign exchange trading and away from stocks.

At its simplest, trading foreign currency involves 2 currencies traded similtaneously, called a ‘pair’. Fore example, the EUR/USD pair, trade the Euro against the US greenback. In this example, a buyer of this pair would be ‘buying’ the Euro and ’selling’ the US Dollar.

currency exchange pairs are described in the following format : XXX/YYY

XXX, the 1st currency in the pair, is called the ‘base’ currency. YYY, the second currency in the pair, is called the ‘counter’ currency in the pair. Prices are always expressed in terms of the counter currency.

For example if the current cost of the EUR/USD pair is shown as 1.3667, this would imply that one EU Dollar ( the base currency ) equals $ 1.3667 US dollars.

Most major pairs are priced to four decimals, or 1/100th of one %. The exception to this is the japanese Yen pair, which trades only to 2 decimals. This is because there are usually over a hundred Yen to the dollar.

In an instance where the US Dollar is the base currency, the USD/JPY pair for example, costs here are expressed in japanese Yen. If this price is 108.02, this means that the base currency, the US dollar, equals 108.02 jap Yen.

Forex costs are expressed in pips. What’s a pip? A pip is simply the minimum increment that a currency pair price can change. For instance, if the EUR/USD price changes from 1.3790 to 1.3791, the costs is said to have gone up by 1 pip.

currency exchange pair quotes are on a bid-ask basis. The bid is the price the market is prepared to pay a seller at the point in time for a specific currency pair. The ask is the price the market is ready to sell to a buyer at a [point in time for a specific currency pair. The difference between the bid and the ask is called the bid/ask spread.

Currency exchange  costs are always listed as Bid price first, Ask price second.

for instance, a standard EUR/USD quote coule be 1.3784 Bid // 1.3787 Ask in which case the quote price is alleged to have a spread of three pips.

The spread is how market makers are compensated, vs ‘commissions’ paid for trading stocks or options. The spread can and will vary depending on a number of factors, including but not limited to : current conditions, the particular broker or market maker you use ( some do charge higher spreads than others ), the currency pair being traded ( more thinly traded currencies frequently have higher spreads ).

For the EUR/USD example above, the quote would be expressed simply as 1.3784/1.3787 or 1.3784/87.

very similar to buying shares of stock, currency exchange trades in ‘Lots’. There different types of lots, including : standard, mini and micro.

Standard lots trade 100,000 units of a currency pair. Mini lots trade ten thousand units and micro lots trade 1,000 units.

for example, for a standard lot purchase, if the EUR/USD quote was 1.3784/1.3787, then buying this pair would mean buying 100,000 Euro dollar dollars and selling short 137,870 US greenbacks.

There are several different order types you should understand in order to trade Forex.

Market Order: This order type is used to enter or exit the market immediately at the current quoted price. If you want to buy you will be filled at the ask price; if you want to sell, you will be filled at the bid price.

Limit Order: This order type is used to buy or sell a pair at a predetermined price. A buy limit order will only be filled if the market trades at or below the limit price you determine. A sell limit order will only be filled if the market trades at or above the limit price.

Stop Order: This order type is used to buy or sell a pair at a predetermined price. A buy stop order will only be filled if the market trades at or above the stop price. A sell stop order will only be filled if the market trades at or below the stop price.

Here’s a classic trade eventuality :

let’s assume the current bid/ask quote for the EUR/USD is 1.3802/05 and you would like to take a long position as you assume the EU Buck will gain on the Dollar.

We’ll also say that you are only purchasing one Standard Lot.

When you purchase this pair, you are actually buying 100,000 Euros for $138,050 US greenbacks. Using leverage, at 100:1, you would need to have an initial margin deposit of $1,381 for this trade to happen.

Let us then presume that the EU Dollar indeed gains on the Dollar and trades now at 1.3865/68 and you decide to sell and take your profits. You would sell you 1 Standard Lot at a profit of sixty pips ( 1.3865-1.3805 ).

When you sell this pair, you are selling 100,000 Euros for $138,650 US greenbacks. Since you purchased the 100,000 Euros for $138,050 and sold them for $138,650, you made a money profit of $600.

If on the other hand the Euro went down to 1.3775/78 and you sold at 1.3775, you would have a loss of thirty pips, or $300. ( $138,050-$137,750 ).

When using margin and leverage, it is important that you employ sound risk management rules to make sure that your account equity never falls below margin necessities – if it does, your position will be automatically liquidated and you may maintain a important loss.