Forex.for.Everyone.Revised.pdf

Forex for Everyone - Learn to trade the Forex market like a professional.

Forex for Everyone

Introduction:

I hope that you have purchased this course because you are serious about

starting a career in trading or want to hone the skills that you already have. I

intend to keep things basic and to the point.

You probably already know about the Forex market. I donÓt want to take up space

here explaining what the Forex market is and the history of it. Odds are that you

have already bought material that explains that. If you are a beginner you can

find basic Forex information on the Internet or in those cheap $4 ebooks on ebay.

I offer you a clear, concise, simple trading method that can be grasped in one

afternoon. Many times you have heard to ÐKeep it SimpleÑ. This is what IÓve

done. ItÓs really all you need to know to successfully trade the Forex market.

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Forex for Everyone - Learn to trade the Forex market like a professional.

Beginners want to learn all that they can and try all of the technical indicators

available to them in their attempt to find the ÐHoly GrailÑ. After extensively

testing all indicators and methods, a trader usually returns back to the basics.

ItÓs like the spiritual metaphor where the farmer who tills his soil and works on his

land decides to search for enlightenment. Eventually, after years of spiritual

search for enlightenment, he finds what he was looking for right there, on his

farm, tilling his soil and working his land. The journey is necessary however to

discover and appreciate this.

Trading is a journey. ItÓs a skill honed from hours of research, backtesting and

trading. With the right attitude, learning from your mistakes and striving to

improve, you too will become the Trader Warrior. He/She is already within you,

waiting to emerge.

I make no apologies for the amateurish look of this ebook. I am a full time trader

who makes a living from it, and happens to sell ebooks about trading. I am not an

ebook seller who does not trade and has to sell expensive, professional looking,

and fancy ebooks to make a living. You all know the ones I refer to.

Acknowledgment

I'd like to thank my mentoring student, Greg, with his tremendous help in

organizing the material in a logical and intuitive manner. His editing has been a

godsend.

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Forex for Everyone - Learn to trade the Forex market like a professional.

Summary of the material we will cover:

1. The logic of our trading method. A general big picture view of the dynamics

that govern our trading.

2. Moving averages and trend.

3. Introduction to the six market conditions we trade

4. News and how it effects our trading decisions.

5. The trading charts we use.

6. Outline of the trading tools we use

7. Putting it all together.

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Forex for Everyone - Learn to trade the Forex market like a professional.

Trading Overview:

1. Acquire the news that will be coming out today.

2. Determine the current market conditions and price location on the chart.

Determine if you will be trading with the trend or counter-trending. If you

follow the Forex mid-term system, check the hourly trend and current Elliott

wave.

3. Determine the Day Type. One of our six market conditions.

4. Assume that Day Type Market condition will continue until market conditions

change.

5. Wait for price to setup for a trade. If a trade sets up per our rules then:

a. Using our technical tools we enter the trade.

b. Place stops and use proper money management.

c. Exit the trade per our exit rules.

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Forex for Everyone - Learn to trade the Forex market like a professional.

The Logic of our Trading Method:

Markets are dynamic. They have energy. They are in constant motion. They

move up and down in a natural wave like manner. The waves may change

direction, but they are always moving. Waves can be large and far apart, or small

and close together.

When the waves are moving up the market is in an uptrend. When waves are

moving down it's in a downtrend. When the waves are moving sideways, the

market is in a range. Price will trend for an undetermined amount of time before it

runs out of energy. It then moves into a range bound condition. After price has

had enough time to gain energy it will begin trending again.

In physics for every reaction there is an equal opposite reaction. Take a rubber

band and stretch it apart. When you let go it returns to the middle, or the

equilibrium point. The markets act the same. They extend up or down to a point in

technical analysis terms called overbought or oversold, then eventually reverse

and return to a equilibrium point.

The point of balance on a chart, or the equilibrium area, is the 200 simple moving

average. Price tends to move to the 200ma, then away from it. If price is above

the 200ma it's called Bullish Mode. If price is below the 200ma it's called Bearish

Mode.

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