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

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

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

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.