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

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

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

Forex is different from trading stocks, but the benefits and risks are similar

The Forex markets are quite different from the stock markets largely because the price behavior of the Forex pairs is different and entails abrupt price swings. This means traders should utilize trading methods different from those that are used to trade or select stocks so that traders may fully realize the profit potential Forex offers while still minimizing risk.

Both Forex and stocks, however, are similar in that they develop repeatable price trends that give traders enormous profit opportunities for those traders with strong trading methods, disciplined trading mindsets and sound money management tactics.

One of the reasons Forex has gained in popularity is the concept of Leverage, which allows traders to take Forex positions with a much smaller account size than would be required for trading stocks, and because the margin requirements for Forex are smaller than they are for stocks. This increases the reward ratio for profitable trades, but it also increases the risk.

For example, most brokers offer at least 100:1 leverage, which is more than enough to generate significant profits while maintaining sound risk management. Other brokers will offer up to 400:1 leverage — but the risk reward ratio is not in the trader’s favor with this type of leverage.

Leverage, combined with reduced margin requirements and high profit potential are the real driving forces of the expanding Forex trading market.

Have I got to day trade forex is one of the most common questions asked about trading the foreign exchange markets. Day trading forex is very widespread but the general public can’t commit the time to day trading as it requires that you watch the markets on a to-the-minute basis. Another approach , however , is trade the forex on an end-of-day basis.

Trading from this premise will need significantly less time, impose less stress and provide profit potential no different than day trading. You will need to identify a good trading technique which is especially designed for end-of-day trading as many of the guidelines ruling day trading will not necessarily be applicable to end-of-day trading methods, or they will differ in unique ways.

Traders, especially those that are new to foreign exchange, should recognize that if you can’t earn money trading forex on an end-of-day basis you’ll not fare any better in a day trading environment. This is due to the time pressures wanted to make instant decisions on order entry, immediate placement of stop orders and profit targets – all of which are very stressed and demanding.

If you consider any of the 6 majoy pairs and look at long term charts of each pair, you’ll obviously be able to identify long-term trends which might have generated heavy profit over time . Day traders need to make fast, little profits ; end-of-day traders can have the patience to take longer, bigger profits.

So don’t believe that the only real way to trade foreign exchange is in a day trading environment. You can do as well or better trading foreign exchange on an end-of-day basis.

Did you know there are currently more than a hundred technical indicators that you can use when trading Forex? Most charting software programs and packages available will supply all these indicators to you – but the most unusual question is always : which ones should I use?

there is no sorcery in technical indicators in and of themselves as they each can tell you something about the market’s behavior at any given time. Nor is it true that any one indicator is much better than another.

What is prime to using technical indicators successfully is to choose just a couple of that complement one another and use them in an atypical manner along with powerful trading tactics.

Most trading strategies share the technical indicators they utilise for identifying potential trades – the secret to being successful with these indicators is to understand their application and their impact on the choice of trade.

The disposition for many newbie traders , however , is to over-complicate this process. They need to use too many indicators or patters, and they believe that success is reliant upon something being highly complex. Nothing may be futher from the truth – in truth, simple is better :

one. Using too many or the incorrect indicators is counterproductive, as the data that those indicators provide is counterintuitive and just plain fooling.

2. Using a few easy indicators in a uniquely powerful way can provide the

right information obligatory to make good trading choices.

3. With the right indicators and patterns, you will be much more likely to trade with discipline because you will be ready to understand an objective set of rules that the right indicators and patterns can supply.

briefly you are best of keeping it easy and using a smaller set of indicators to spot the absolute best trades – and avoid making ‘complexity’ a qualifier for judging whether a method will work or not. You will likely find that the faster the method, the more successful you will be with it.

If you need to become a Forex Trader, select one of these mindsets.

The Independent trader or the Dependent trader

Which type of trader you are will drastically affect the potential money you can make in the markets. In fact, it may well determine what the remainder of your life will look like, if it is how long you work for someone else, when and where you vacation, or where and how you live.

you may think that is’s an exaggeration, but the reality is those who take initiative can definitely affect the result of their lives ( and their trading ) versus those that let others determine the course of their lives for them.

it is critical to note that anything requiring little to no effort will produce limited, temporary or no results. Inversely, anything requiring you to think and act for yourself will produce lasting and lasting results.

Trading, whether forex, stocks, or other markets, particularly proves this true. Returning to the 2 kinds of traders, they illustrate very common mindsets – which one represents you?

The Dependent trader is looking for the easy way, wants to make a fast buck, or make it big – but never wants to put any effort into the process of achieving such things ( if such things even exist, and it should be contended that they do not ).

Dependent traders will follow the crowd, trade based on hot tips, seek out automated ‘millionaire-making’ trading programs, hear all the reports professionals and blindly place ‘can’t lose’ trades ( which do lose ), all with no plan, no thought and no understanding of what they’re doing.

Naturally they will become frustrated with their losses and mess ups and do the single thing they can think to do : they give up.

Dependent traders are the trading equivalent of lottery ticket buyers ; they know full well the chances stacked against them, but they believe anybody can get lucky, so why not them?

of course, Dependent traders exert small control over their lives and have little chance for finance success.

On the other end of the spectrum is the Independent trader. This trader wants to have control over their financial future and has learned ( or will learn ) how the markets work, which approaches to trading the markets truly work, and the easiest way to sanction themselves to trade without relying on others for advice or tips or stories.

An Independent trader understands and believes that only they can maximise their chances for success and only they can achieve their monetary and life dreams. They will search out and learn from others, educate themselves, learn from failure and attempt to accomplish bigger things.

It should be observed , however , that everyone has a little bit of the Dependent trader in them at some point. The difference being, the person on track to become Independent may take up with a mentor or lean on a reliable education source at the outset – but as their information grows, the Independent trader will start to apply what they’ve learned completely on their own.

The Dependent trader never will .

three straightforward steps to becoming an Independent Trader :

Step One : Create and execute a trading plan. Whether you want to day trade or trade at the end of hte day, or once a week – decide what fits BEST in your daily plan and then determine what sources form two and three below best align with your intention. Don’t try and apply day trading methodologies to end of day trading and vice versa, as you will probably discover they don’t and will not work.

Step Two : seek out 2-3 reputable education sources. We will provide some to you – but the goal is to spot one that you can understand and trust. Learn all you can from those sources. Then, learn how to use it on your own.

Step three : Learn from and test out multiple methods for trading. You are unlikely to be successful wihtout some foundation in trading methodologies, particularly when employing technical or basic indicators.

The steps above will require time and cash investment.You should consider them your trading education costs – it is way better to invest in yourself than to lose money too simply in the market.

One phenomenon that derails amateur forex traders time and time again is method complexity syndrome. They research a trading method, get it and the minute they receive it, they jump ahead to what they consider to be’the guts’ of the technique. In doing so, they absolutely ignore all of the other aspects of trading, including risk management, discipline, and psychology.

They get into the’guts’ of the strategy only searching for that large, mysterious, slap-your-forehead, jaw-dropping’secret’ that will suddenly unlock the puzzles of the forex universe and make them Master and commander of every currency exchange pair. All too often, they find themselves completely disappointed or the’guts’ reveal something they’d already heard about ( but had not practiced ). Amateur traders will then dismiss the strategy as ‘too simple’.

Or, the amateur trader will look for that complex formula, cryptic mixture of indicators and all too frequently what they really discover is a collection of straightforward indicators working together in an uncommon way, and they are saying,’Well I could have done that!’ – and they become disappointed or frustrated, because they wrongly think that any strategy MUST BE complicated, it can’t possible be SIMPLE! So, they postpone the strategy or return it and whinge that it’s’not complicated’ enough.

This is a major mistake – as the beginner trader will then repeat this error technique after method and they may never make the effort to learn and understand the full process of trading.

Don’t make this mistake. Understand that most trading methods out there are not complicated. They weave a smaller set of rules together in a straightforward manner ( straightforward enough that anybody can apply them ) but apply them in a rare way. Complicated systems are for computer geeks and enormous banks – if you can’t understand something, you can’t probably apply it.

Never skip ahead when learning a tough new technique for trading forex. Make certain you learn the setup, entry and exit rules ( which should exist ) ; that you learn how to defend your trade with stops ; and you learn the way to apply your method on a timely basis ( be it hourly, daily or weekly ) to get the maximum out of the strategy and to learn how all facets of what you learn work cooperatively to make you a better trader.

Remember, simple but tough – using some indicators or rules applied in a non-textbook approach – is the key to getting an edge in the markets.