Forex Trading doesn't have to be confusing and complicated. This FREE REPORT tells you, in everyday language, how to get started trading online in the Forex Market

1. Forex
Trading
System
Secrets
Copyright2012 – Miroslav Brezinsky
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has used his best efforts in preparing this course. The author
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of this course. He disclaims any warranties (expressed or
implied), merchantability, or fitness for any particular purpose.
The author shall in no event be held liable for any loss or other
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2. damages, including but not limited to special, incidental,
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3. Table of Contents
Chapter One An Introduction To Forex
Chapter Two The History of Forex
Chapter Three Forex Today
Chapter Four Understanding Currency
Conversion
Chapter Five The Candlestick Chart
Chapter Six Understanding Market Trends
Chapter Seven Forex Volatility And Market
Expectation
Chapter Eight Your Forex Future
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4. Chapter One – An Introduction To
Forex
Of all the methods and systems for making money online,
perhaps none is as popular and widespread as "Forex." Forex
refers to the trading of International currencies and making
a profit from the difference in the respective exchange rates.
The word "Forex" is a combination and contraction of two
words "foreign" and "exchange."
The old saying, "Where there's smoke, there's fire" is
especially applicable to Forex currency trading. Because
there is a lot both. Every day millons of trades are conducted
on the only truly Global unrestricted financial market.
Owing to the fact that Forex profits are derived from the
difference in the exchange rates between the currencies of
countries, there is no "central authority" governing the Forex
market. Because of this, it's very difficult to manipulate the
Forex market. In comparison to the stock market, which can
be, and is regularly manipulated by the most powerful
investors.
The amount of money exchanged every day with Forex
trades are truly staggering. Anywhere between 1 trillion and
1.5 trillon U.S. dollars. An astronomical amount, to be sure.
Seemingly daunting to the non-expert wanting to participate.
But the good news is, you can get a piece of the '"Forex Pie"
with no risk. Owing to the fact that many Online Forex
brokers offer a practice account. Usually with $10,000 or so
to get up to speed.
This will allow you to “get your feet wet” without risking
drowning!
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5. Chapter Two – The History of Forex
While even non-traders are familiar with the term “Forex” it's
likely you don't know that the Forex market is an indirect
result of the Vietnam war. For the lowdown we go back
through the mists of time to 1971. The Place: Bretton
Woods, Nova Scotia, Canada.
The United States proposes to the other Major Nations of the
World that they tie the value of their currencies to the (then)
mighty U.S. dollar. Which was mighty because it was backed
by Gold. In other words, the U.S. treasury did not(then)
print more money than it's equivalent in Fort Knox.
The other Nations agreed. But soon, as often happens with
positive agreements, the Bretton Woods Agreement went
South. The reason: the Vietnam war. Saddled with an
enormous war spending debt, a man named Nixon took the
U.S. off the gold standard, and the Government printing
office(treasury division) went into overdrive.
Printing money like there was no tommorrow. What there
was - was, predictably - Massive inflation. Which caused the
other signatory nations to the Bretton Woods Agreement, to
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6. wave it, and the "mighty" U.S. dollar a big, and definite "bye
bye."
This was the beginning of the Forex market, as the World's
other countries began establishing values for their currencies
based on National economic conditions. The obvious
consequence was a difference in the value of one countries
currency, relative to another. Thus the phrase "exchange
rate" entered our language. Followed Swiftly by "Foreign
Exchange." Which, even more swiftly, was shortened to
"Forex."
These “early days” of Forex trading were more complicated.
Due to the number of players on the European market, and
the mind-numbing number of respective currencies. At that
time you had the franc,the pound, the lira and countless
others to contend with.
However this situation was improved in 1992 with the
emergence of the European Union, which established the
Euro in 1999 as the currency of record across all of Europe.
With the exception of Britian, still clinging to it's pound
sterling.
Chapter Three – Forex Today
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7. With this simplification of the currency conversion process,
the “landscape” of the Forex market became more easily
travelled. Now, the main countries trade in five currencies:
U.S. dollars, Australian dollars, British pounds sterling, the
Euro, and the Japanese Yen.
As you would expect from looking at these currencies, the
major players include the majority of the European nations,
the United States and the Asian markets. Japan is
particularly present here. And Australia has also joined the
Forex foray.
Chapter 4: Understanding
Currency Conversion
Like any new business venture, you'll need to begin with a
basic understanding of how it works. With Forex this means
noting the values of different currencies and studying
domestic market trends as well as foreign ones This will give
you the basic prepartion necessary to understand and act in
the area of currency conversion, which is the “bottom line” in
Forex trading.
Working With Multiple Currencies
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8. Now that you are “armed” with a basic understanding of
currency conversion and market trends, your next task will
be to get a basic idea of current rates of currency exchange.
Happily, this is not difficult. And more good news – it's free.
You'll find more sources than you can possibly use on the
internet. Comparing this information should give you a fairly
accurate “baseline” from which to operate.
Forex-Speak
Like any specialized profession, Forex has a language all it's
own. One of it's most unique and amusing words is the “pip.”
Not, as you might imagine, referring to the seeds of an apple
or lemon!
In Forex trading a “pip” is the smallest fraction, or decimal,
in which a currency can be traded. The U.S. dollar is often
expressed to the hundredth of a cent (the fourth decimal
place).
Another commonplace word that has a different and unique
meaning in the “Forex Language” is “yard.” As you might
expect, it doesn't refer to that expense of grass behind your
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9. house where your lawn chair resides. In “Forex-Speak” -
“yard” refers to the quantity of currency as opposed to it's
value and is equivalent to one million units of the currency in
question. So, while a “yard” of Euros and a “yard” of Yen
are the same quantity, there is no equivalent value between
the two.
Forex Trending
Getting into the Forex Market is a lot like a sailboat trip. The
night before the voyage, you check the weather forecast.
Look at the barometer. Note the condition of the sea. Pour
over your charts. Check the boat to make sure everything's
watertight. And, above all, that you have life preservers.
It's the same with Forex. Except, sadly, there are no life
preservers! So you'll want to make doubly certain your
preparations are the best they can be. Or it is your wallet –
not your life that will feel the pain!
Like your sailboat trip, you'll want to pour over charts. But of
course they won't be the nautical variety. Solid information
from experts is what you need. And it's easily obtained.
Informed opinion in newspaper financial pages; listening to
and comparing the advice of market analysts will prepare
you for your “Maiden Forex Voyage.”
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10. This “financial intelligence” will help you track marketing
trends and make educated predictions about where the
market may be headed. Giving you the ability to decide
when to buy and when to sell.
Chapter Five – The Candlestick Chart
One of the most useful “weapons” in your Forex info arsenal
is something known as a “Candlestick Chart”.These charts
are basically a combination of a line graph and a bar graph
that show the trend of various stocks, indexes, or other
interests over a specified period of time.
This will easily allow you to determine if a stock is up or
down, when the last major change in it's journey occurred,
and how long it's likely it's present path will continue.
Not only will the Candlestick Chart give you current
information, but with it you will also be able to research
commodities, prices and market trends for years past. This
“historical data” will enable you to see “the big picture” with
regard to whatever the object of your search may be.
The Candlestick Chart will help to answer your questions and
concerns, and help to determine if it's a good idea to
postpone your action on a particular possibility until the
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11. market takes an upswing, or whether it's better for you to
act now.
Chapter Six- Understanding Market
Trends
Like the stock market, the Forex market is also affected by
rumours, innuendo, and, of course politics. A rumour that a
large company is in financial difficulty can send it's shares on
a one way trip to the basement. Creating an opportunity as
it's share prices plummet.
Also, when countries have a downturn in their ecomonies,
the resulting depression and inflation will create a
devaluation of it's currency.
Wars and natural disasters can, and frequently do, produce
similair effects.
Bottom Line : If you don't already act from the boy scout
motto: “be prepared” - now is the time to get with that
program!
By paying attention to World events, social trends, and, yes,
rumours, you'll be “prepared” for currency fluctuations and
be ready to profit from them.
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12. Chapter Seven : Forex Volatility and
Market Expectation
Given that the tendency for fluctuation is much stronger –
and often occurs faster - in the Forex market than on the
stock market, what can you do to prepare for this
eventuality?
The short, and honest answer, is to understand , as precisely
as possible, the reason for the flucuation. This will enable
you, armed with your research of current and past trends, to
make an informed action decision.
There are two principal causes for the volatility of the Forex
Market. The first, and most obvious, is a deliberate currency
devaluation by a Government. You may recall Russia
attempted this in 1998 - announcing that they intended to
devalue the ruble. The obvious consequence was that
hearing this news, the Russian people rushed to their banks.
And in one day the ruble fell by 25%. Bad news for the
Russian economy. But good news for Forex traders who had
their fingers on the pulse of World events.
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13. The second, and usually most unpredictable variable in
currency exchange rates is the interaction of the currencies
themselves. For example, a currency with a history of great
stability may, inexplicably experience devaluation. There
could be any number of reasons. But none of them matter.
The end result – the downturn – is what you'll have to deal
with.
Again – be a boy scout - “be prepared!” This is your best,
and only “antidode” to “market fluctation fever!” Yes, it will
take experience. Not to mention a certain amount of
“intestinal fortitude.” You must act, when it is time, in your
best judgement to act.
Don't second guess yourself. Just do it! Yes, sometimes
you'll be unsuccessful. Sometimes you'll make a bad call. But
the more action you take, the more success you'll have in
the long term. Isn't that so with anything?
Bottom Line : Constantly changing currency conversion rates
and market volatility ensure that there will be no certainties
on any given day in the Forex Market. If you're good with
that (and do your homework – daily) Forex will be good for
you.
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14. Chapter Eight – Your Forex Future
While it"s true that enormous returns are possible with
Forex, (Ask Warren Buffet or George Soros) they are usually
the result of enormous and long term investments by
extremely experienced traders. (Think Warren Buffet and
George Soros.) If you're not in the billionaire/millionaire
class, the cold shower of reality is that your returns will be
relative to your investment. And if your idea of a Forex
investment is less than three digits, frankly you'd be better
off buying a lottery ticket.
Bottom line: There is no “free lunch.” But there is a real,
honest and accessible opportunity to make money online,
wherever you choose, with Forex Currency Trading.
More GOOD NEWS!
To aid novice traders gaining knowledge and experience,
most Online Forex Brokers offer a practice account. This
enables new traders to familiarize themselves with the
system, trading "virtual practice money" and not their life
savings.
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15. Then, when they're ready to start trading with their own
money, they'll have (at least) a basic understanding of what
works and what doesn't. Allowing them to begin their trading
careers with confidence borne of experience.
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Forex Resources:
All of the following can be of value, depending on HOW you
choose to trade:
Forex Striker History's first patented Forex Robot
Option Bot Binary Options Indicator
Million Dollar Pips An automated pips system
ElectroForex Forex training and advice
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