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Online Network Marketing Consultant Secondary: Full Name Comment goes here. Are you sure you want to Yes No. Be the first to like this. Embeds 0 No embeds. No notes for slide. No part of this book may be reproduced or transmitted in any form by any means, electronic or mechanical, including photocopying, recording or by any information storage or retrieval systems, without the express written permission from the author and publisher.
All materials contained herein have been copyrighted. Reproduction will be in violation of all Copyright Laws. Violators will be prosecuted. While attempts have been made to verify the accuracy of information provided in this manual, neither the author nor the publisher assumes responsibility for errors, inaccuracies or omissions.
There are no claims by the Author, Jared F. Martinez, or Market Traders Institute, Inc. This manual is not a guarantee to produce profits. Currency trading on the FOREX and trading results in general vary from individual to individual and may not be suitable for everyone. All strategies, techniques, methodologies and trades contained in this manual should not be construed as an invitation to enter and trade in the market.
Each trader is responsible for his or her own actions. Your downloading of this manual confirms your agreement with the Statement of Risk, constitutes your agreement to this disclaimer, confirms and exempts the author, publisher and Instructors from any liabilities or litigation.
I am your greatest helper or heaviest burden. I will push you onward or drag you down to failure. I am completely at your command. I am managed with care—you must be firm with me. Show me exactly how you want something done, and after enough lessons, I will do it automatically.
I am the servant of all great people and, alas, of all failures. Those who are great, I have made great. Those who are failures, I have made failures. I am not a machine, though I work with the precision of a machine and the intelligence of a person.
You may run me for profit or run me for ruin—it makes no difference to me. Take me, train me, and be firm with me, and I will place the world at your feet. Be easy with me and I will destroy you. What is the Forex? This can be achieved when the trader adopts and accepts The 10 Keys of Successful Trading. A trader must commit to live by three disciplines to become a successful trader. Three Disciplines of Successful Traders 1. A trader must believe in The 10 Keys to Successful Trading and merge them into their personality.
A trader must be committed to Continuing Education. Study technical analyses and the psychology of successful trading. A trader must make logical decisions, void of emotions, while trading. Learn to trade in control! A trader must map out a sensible equity management plan to ensure a Return On Investment.
Levels of Traders Level One Beginner Trader - Studies and paper trades for a minimum of one month with pretend currency, gaining the experience required to establish a track record of profitable performance. Level Two Advanced Beginner - Trades one or two lots with real money, learning to overcome emotions and at the same time, establishes a track record of making money. Level Three Competent Trader - Trades with control over their emotional distractions. Utilizes proper equity management and achieves a positive financial return.
Level Four Proficient Trader — Trades with confidence, education and experience. Achieves positive financial returns. Level Five Expert Trader - Instinctively executes profitable trades without emotion. This market is the arena in which the currency of one country is exchanged for those of another, and where international business is settled. The Forex is a group of approximately thousands of currency trading institutions that include international banks, government central banks, and commercial companies.
Payments for exports and imports flow through the Foreign Exchange Market, as well as payments for purchases and sales of assets. Speculators have great financial exposure to overseas economies participating in the Forex to offset the risks of international investing.
Historically, the Forex Interbank Market was not open to small speculators. With a previous, minimum transaction size, and often stringent financial requirements, the small trader was excluded from participation in this market. Today, Market Maker brokers are allowed to break down the larger interbank units and offer small traders the opportunity to buy or sell any number of these smaller units lots.
Commercial Banks play two roles in the Forex Market: For example, two companies wishing to exchange different currencies would seek the help of a commercial bank.
The Forex also includes central banks from various countries, like the U. They participate in the Forex to serve the financial interests of their country. The Forex is so large and is composed of so many participants, that no one player, not even the government central banks, can control the market.
Unlike other markets, there is not a centralized location for trading activity. Currency trading takes place via the Internet or over the phone. These banks will process transactions for large companies, governments and their own accounts. There are numerous advantages to trading on the Forex.
Liquidity In the Forex Market, there is a buyer and a seller! The Forex absorbs trading volumes and per trade sizes which dwarf the capacity of any other market. On the simplest level, liquidity is a powerful attraction to any investor. It suggests the freedom to open or close a position 24 -hours a day. Once purchased, many other, high-return investments are difficult to sell at will. Access The Forex is open 24 hours a day from about 5: An individual trader can react to news when it breaks, rather than having to wait for the opening bell of other markets when everyone else has the same information.
This timeliness allows traders to take positions before the news details are fully factored into the exchange rates. High liquidity and 24 hour trading permit market participants to take positions, or exit, regardless of the hour. Two-Way Market Currencies are traded in pairs—for example: Every position involves the selling of one currency and the buying of another.
If a trader believes the Swiss Franc will appreciate against the Dollar, the trader can sell Dollars and buy Francs. This position is called "selling short". The potential for profit exists because there is always movement in the exchange rates prices.
Forex trading permits the opportunity to capture pips from both rising and falling currency values in relation to the Dollar. In every currency trading transaction, one side of the pair is always gaining, and the other side is always losing. To trade on the Forex market, a Margin Account must be established with a currency broker. This is, in effect, a bank account into which profits may be deposited and losses may be deducted.
These deposits and deductions are made instantly upon exiting a position. Day-trading is entering and exiting positions during the same trading day.
Execution Quality Because the Forex is so liquid, most trades can be executed at the current market price. In all fast moving markets stocks, commodities, etc. You are given the option of avoiding or accepting the slippage. The Forex Market's huge liquidity offers the ability for high quality execution. Confirmations of trades are immediate and the Internet trader has only to print a copy of their computer screen for a written record of all trading activities. Many individuals feel these features of Internet trading make it safer than using the telephone to trade.More...