Free Forex Trading Training

Mission Phoenix's Mastering the Forex is Killing the Forex Market

noreply@blogger.com (Mission) — Fri, 15 Aug 2008 06:27:00 +0000

I hope that everyone is profiting in the forex market right now with their Forex Trading System. I wanted to show some more of my live trades, I was expecting these types of moves due to the extended corrective patterns we have been in.

The Mission Phoenix Forex Course Goes Live Very Soon. Head on over and check it out. Learn Forex, How to trade, and the secret forex strategies that make this kind of proven profits.

-Mission Phoenix,
Live Life Abundantly and Share That Abundance.

ADX Indicator in Forex Trading - Video

noreply@blogger.com (Mission) — Sun, 06 Jul 2008 17:25:00 +0000

Today we’re going to learn about the ADX indicator or as its referred to as the average directional movement index in our metatrader platform and how we can use this tool for developing our forex trading strategy.

The average directional Index or ADX, is an indicator that is use to determine the strength of a prevailing trend. The ADX is measured on a scale from zero 100 with a series of lines that illustrate the trend, the strength of the positive direction and the strength of the currencies negative direction. These series of lines are actually three indicators all built in to want into the one ADX.

There are 2 direction movement indicators, one of them being the positive directional movement referred to as the green line in the video. The negative directional indicator in the video is the red line, between these 2 lines you can see the fight between the bulls of the bears and who is dominating that fight. When the green bull line crosses the red bear line then we see that the bulls have just taken charge of the currency pair and can be marked by the change in price movement.

An aggressive buy signal could be taken when the green line crosses the red and vice versa when the red crosses the green without taking into context the blue ADX line.

The blue ADX line is a measure of the strength of the trend for the foreign currency pair. When the ADX line is above 20 or 25 for our case in the forex trading video is an indication that currency pair is trending (we only trade during trending markets remember). We then watch the ADX line and should be in a position on that currency pair and ride that trend as it approaches and even exceeds a value of 40.

Here is when the fun kicks in. Currency pairs can remain overbought of oversold for extend periods of time which is what we always hope for (well when we are making money on a move). So what we watch for is for when the ADX line crosses the 40 line and then moves south towards the 20 line. This is our indication that the trend is over.

Make your trading easy with a proven method of forex trading that makes it easy forex.

-Mission Phoenix
Live Abundantly and Then Share That Abundance

RSI Indicator in Forex Trading - Video

noreply@blogger.com (Mission) — Sun, 06 Jul 2008 16:34:00 +0000

RSI Indicator in Forex Trading - Video

Today we are going to learn about the RSI indicator in Forex Trading. The RSI indicator is a technical momentum indicator which is also a lagging indicator as like all the other indicators. Where does the computers I need to the recent gains to the recent losses in an attempt to determine whether of the currency pairs going to be overbought or over sold, you will see that that the RSI’s number ranges from zero to hundred.

It is deemed to be overbought once he RSI approaches the 70 level and it tends to be overvalued at that level becomes a good candidate for a pullback that. It may correct when it reaches that level, but not necessarily, always remember that it is on a relative basis, and likewise as the RSI approaches 30 is an indication that this currency is undervalued, on a relative basis. Always remember that when using lagging indicators in forex trading everything is on relative terms, meaning that yes the currency is overvalued at the current time (much like the U.S. housing market is some locations), but that doesn’t mean that it won’t continue heading in the same direction. If it was easy, everyone would be rich right!?

The best way that I like to use RSI is rather than looking to see whether it's relatively overbought or oversold is to take divergence into account. Divergence in currency trading is the most powerful trading tool, but most people don't like to use divergence.

Another great way to get these oscillators is to just draw trend. What direction is it heading in? Is there a breakdown out from a triangle? Is there a trend that you can see clearly? Look for times when there is a momentum shift, or a reversal in the indicator. Does the indicator reverse when the currency pair runs out of steam? This may be a big indication that the preceding trend is over and the currency pair may reverse.

The RSI indicator has gained popularity here in recent times however it is never an indicator that should be used by it self. The RSI indicator should always be used with other tools in making entry position decisions with your forex trading strategy.

-Mission Phoenix
Live Abundantly and Then Share That Abundance.

Forex Currency Nicknames

noreply@blogger.com (Mission) — Wed, 02 Jul 2008 19:13:00 +0000

Recently I’ve had a few questions about the various nicknames that certain currency pairs have. This can be very confusing, because some commentators, wallets and news feeds will refer to currency pairs in their nicknames, which makes it difficult to follow along and or even participate in the conversation.

There are really nicknames for two different categories. One naming convention refers to actual currency pairs, while the other naming conventions refer to the individual currency itself.

Individual currency nicknames are as follows:

USD = Greenback or Buck

EUR = Euro

GBP = Pound Cable

JPY = Yen

CHF = Swissy of Franc

CAD = Loonie

AUD = Aussie

NZD = kiwi

The most popular currency pair nicknames along with their symbols are shown below:

USD/JPY = Dollar Yen

GBP/USD = Sterling

EUR/USD = Fiber

USD/JPY = Gopher

EUR/GBP = Chunnel

GBP/CHF = Geppy

It makes it easier when following CNBC other news broadcasts to understand what the terminology is in the special language that is used in this Forex trading niche. It’s also helpful, because financial commentary usually is at such a rapid and fast-paced that when you hear an awkward name such as the key we wore the sterling or the fiber that you don’t get hung up asking the question, “what is that”, and then this the following news announcement.

These are the major names of the Forex currency pairs and of the actual currencies, I hope this helps and defines some use for this information. Learning everything in the Forex market takes some time. There are some great courses out there that help with this, it’s also easier to learn from and mimic successful traders, and there are very few courses out there that I would recommend to friends and family. And since friends and family have been wanting me to teach them how to trade for a couple of years now. I decided to fill that need and provide the best quality course available online.

Make it Easy Forex, Learn Forex Trading with the best for Forex Day Trading System.

-Mission Phoenix

Live abundantly, and then share that abundance

Watch my Trades for me | Mission Phoenix is Leaving for 1 Week

noreply@blogger.com (Mission) — Sat, 07 Jun 2008 12:59:00 +0000

Mission Phoenix is going out to share abundance.

I leave in 5 hrs and I'm so excited that I get to get out of the daily routine. I will be going out to refresh, and renew my spirit, and strengthen my soul! This is not about me though. It is about sharing abundance, and it's about ministry.

You see people have a hard time about trading and making money in this way because they feel guilty subconsciously and they do not feel that it is right. Well that is wrong, I will tell you that right now. You see the forex market is even greater than any other market because we are dealing with the money flow globally between the massive amount of banks in the world. You are just capturing some of that money flow.

What you do with that money can then in turn do wonderful and marvelous things.

Don't feel guilty, trade the forex, live and love. When I tell you to go out and do something for someone else in the forex videos there is a reason for that. When you share abundance , when you share love, you will receive those things in which you desire.

To learn a little more about Young Life and what I will be doing this week Check out Mission Phoenix's philanthropy page.

Live abundantly and then share that abundance.

-Mission

So you want to "Learn Forex Trading"

noreply@blogger.com (Mission) — Fri, 06 Jun 2008 04:33:00 +0000

So you want to "Learn Forex Trading".

The way to learn currency trading is the exact same way that all the great, successful people out there tell you how they became successful in what they did. Take anyone, Robert Allen, Robert Kiyosaki, Anthony Robins, Napoleon Hill, the list goes on and on. The secret to being successful is to:

Align yourself with someone who is successful, someone who proves results to model and learn after
Get a "plan," use a strategy, a system, that will allow you to repeat the result of those that are already successful.

Beyond that, I would suggest reading Napoleon Hill's "Thing and Grow Rich." In it there a couple of key points that critical to success among those that I think are important:

Desire - You must passionately desire what you want
Imagine - You must imagine, visualize, and feel the feelings of already having that desire
Take Action - You must take action, start learning about how to accomplish that desire
Formulate a Plan - You must formulate a plan, and borrow one if you don't have one, and place that plan into action
Persistence - Thomas Edison reached 10,000 failures before perfecting the light bulb, when you meet with temporary defeat, truly successful, the truly rich view that temporary failure as an opportunity to try out the next plan until they find the plan that works for them to create abundance!

You have to develop a strategy in the 4x day trading, having the right forex trading system is
critical to anyone's success. If you don't have that forex trading strategy then you can borrow one from some who is already found success in the forex market.

Check out this Forex Video (your forex tv), this one is almost 15 minutes long.

Get started today with your Online Forex Trading, make it fx trading easy with Mission Phoenix.

Live Abundantly and Then Share That Abundance,

-Mission

Forex Trading | Stochastics |

noreply@blogger.com (Mission) — Thu, 05 Jun 2008 17:06:00 +0000

This Forex Trading Lesson is on Stochastics and how it is used in the 4x.

The stochastics is a funny indicator, many forex traders feel that it is good for nothing and that you cannot trade using the stochastics. This is not true. The stochastics indicator is a good indicator but with all indicators you have to know how to use them. The secret to using the stochastic in forex trading is that you must use the stochastic on a longer term time frame. If a trader were to use the stochastics alone on the daily time frame and have enough patience and self dicipline, that trader would surely become very wealthy.

Currency trading is just like any other trading or day trading. When you lean how to trade the forex it all just seams to click. The only difference with the forex market is due to the highly leveraged nature of the currency market. This highly leveraged market plays horrible games with our emotions.

With the right currency charts, the right forex trading eduction, you can build a great forex strategy that will prove out to yield massive wealth over time. Remember this is never a get rich quick type of deal. It takes hard work, consistency, and a clear mind.

Get started today with your Forex Day Trading System, make it easy forex with Mission Phoenix.

Live Abundantly and Then Share That Abundance,

-Mission

A Little Break - Developing Forex Courses - Giving Back to Charity - Please Help

noreply@blogger.com (Mission) — Mon, 17 Mar 2008 12:00:00 +0000

Hey Everyone,

I wanted to apologize for not havening anything up for a while. You all are really excited about the upcoming forex course that I am putting together and well. It's a lot more worth than I thought it would be.

One reason it's a lot of work is because this isn't going to be some rinky dink little ebook, but video training. Because I feel that you have to have this kind of quality in order to do well in the forex.

On another note!!! Giving back is at the heart of Mission Phoenix values. It is required of people such as myself to give back. I started giving back when I had nothing. I just started with $1. I STRONGLY feel that it started changing my life. Along with a couple of other things that I also include in my training, the giving back and a change in outlook really changed my life.

Mission is not about just talking about giving back, Mission is also about doing and volunteering time.

With that said...

Mission Phoenix is participating in a 2-Day Cycling tour with the MS150. This is a organization racing to find a cure for Multiple Sclerosis. Mission will be in a group of 13,000 cyclists, cycling from Houston Texas, to Austin Texas, for an excess of 150 miles.

Please help Mission Phoenix raise money for this great Charity. Hundreds of people view this blog, so I encourage you to donate even $1, or $2, or $5. This is what I talk about when I say that as a community, as a collective fellowship. We can make a difference in the world.

To go straight to the MS150 donation website to donate click here....
MS150 Website Donate Link

To go to Mission's Website on Multiple Sclerosis where there is also a link to Donate go here.....
Mission Phoenix's Multiple Sclerosis Page - Learn More & Donate

Please help us fight this disease. The Donation is also Tax deductible for those of you living in the US.

Live Abundantly & Then Share That Abundance,
Mission

FXCM Announcement | Introducing Metatrader

noreply@blogger.com (Mission) — Wed, 06 Feb 2008 17:06:00 +0000

I just stumbled on this and I find this VERY interesting.

This could be enough for me to move some funds back to FXCM to give it a try.

I do like FXCM as a broker, my biggest beef with them wast that they did not have a trading platform that I agreed with.

Metatrader is not the best either, but I do believe it is the best free platform there is. Most traders use Metatrader, and because of that I do all of my analysis and teaching using metatratder. I will also be doing some tutorials in the free learning platform section of my site as well as advanced tutorials of how you use metatrader in the paid subscribtion area of my site.

The best means of trading the forex is by an independent data feed that is paid for from a high quality source. This is essential when trading with hundreds of thousands of dollars. For most people the Metatrade and the free platforms are just fine.

Here is the announcement:

MetaTrader
Trading Software

FXCM plans to introduce the MetaTrader online trading platform in the beginning of 2008. Because many traders have expressed an interest in this trading platform, we would like to keep them informed of our progress. Please complete the form below if you would like us to send you information about the upcoming release of MetaTrader.

Like I said very interesting.

more videos to come very soon,

-Mission
Live abundantly and then share that abundance.

Forex Training | Forex Trading

FX Trading Videos | 422 PIPS PROFIT | Trading Is Not Always Roses

noreply@blogger.com (Mission) — Wed, 23 Jan 2008 19:22:00 +0000

FX VIDEOS 422 PIPS PROFIT TRADING IS NOT ALWAYS ROSES

Forex Training Forex Trading

In this Forex Trading blog post where I show another Free Forex Video we look at some live trades showing you some real proof that with the right education and the right method anyone can master the Fore Market. We will show that MISSION PHOENIX has got 422 pips of profit, and this method is so easy anyone can do it. However it is critical that one must know how the markets behave to ensure protection.

I can not stress enough that a trader needs forex education in order to succeed in currency trading. Why is it is so critical? We will see in these next videos MISSION talking about closing trades that are very successful trades all because of a specific candle formation or because of specific things that are happening in the currency pair, and on the charts.
─ How does MISSION PHOENIX know these things?
─ How does MISSION PHOENIX know that the current price movements are over?
─ How does MISSION PHOENIX know to either close the trade all together or should to move stop losses to lock in profits?

MISSION PHOENIX knows these things because:
─ Of extensive knowledge of how the markets behave,

I don’t have a crystal ball
I have just learned how to listen to the foreign language of financial charts, It is a great symphony that once you learn how to really “hear” the music you can really enjoy living to it.

─ Only using those things that work

I found the secret to forex trading. What it all boils down to is that all people make trading too hard.
This is EXCELLENT because anyone can now learn how to trade currencies in the 4x markets in a very short time
Only 5% of all traders know this secret, and they aren’t telling. I’m actually going to make a lot of people mad by sharing this.
o I’m going to make even more people mad because the brokers out there and everyone else don’t want you to master the market because they want to keep taking your money.

─ having years of trading experience.

Now I know you may not have years of trading experience and that you want to get up to speed and start trading like a pro as soon as tomorrow.
Anyone may tell you that this is impossible - Well YOU CAN!
How you are going to do that is by finding a mentor and a teacher that can teach you all of the things that they know and not hold anything back (or at least hold back only those things that do not work).
What this does is takes off the years of learning the markets (the way I had to do it), and supercharges your learning curve so that you don’t have to make the same mistakes that many have.
This drops years off of your trading dues. Your dues that you have to pay to the all powerful trading gods that unleash fury on new traders

Just a little investment in the beginning can save you tens of thousands of dollars gaining you trading knowledge. So with some patience and some time investment and the appropriate education you can have that account balance soaring in no time.

All of this training was not around when I started and now that I have been trading successfully I see that the training out there is not sufficient enough, that is not up to my standards of what people should be learning.

Why are my standards higher? Well friends and family are wanting to start doing what I do and I can not find anyone out there who I trust to send them too. So I’ve taken this into my own hands. So I’m developing the means to give them my training, an elite training that will help them. There is only one of me though and I hope that my posts are coming fast enough for you guys. Along with my philanthropy, blogging, developing my training courses, and trading for myself, that leaves little time.

I am also committed to helping others and that drives a lot of fulfillment in my life so I volunteer a lot of my time to making a difference in other people’s lives as well. Since that is very important to me and a core value of mine that I do not want to sacrifice I also have to find time for that as well.

So back to trading. In this video I will talk about take profit orders for the first time. I don’t use them that often because I used to and found that they limited my profit potential. Here is what happens:

─ You get in at the start of a good trend and you put in a take profit order for 250 pips profit and it’s hit!

─ WHOOO HOOO, great job 250% profit

─ Then as you feel really good about yourself you go on trading

Here is where many people meet their fx trading challenges
Many people pick the wrong times to get in on other pairs and suffer minor losses but now they still have 75 pips of that 250 left
Then they go to check out that old chart to only find that if they would have stayed in they would have >700 pips profit.
Ugh! Right!? If you would have only stayed in then you wouldn’t have had those small losses and on and on and on.

─ This is the real life of trading!!!! No one will tell you this and they will hide it in their systems that they tell you about

─ They also will not tell you that it’s never perfect, I was being very generous with the above example. Usually traders loose all of their profits plus some when they move on and try to trade other things.

Those systems out there give you the signals and they look good on paper but look at the time frame that they are on and ask yourself some questions about what trading style that is.

─ Are you at your charts for those periods of time?

─ By the time you would have gotten to your charts could you have entered a position in enough time to make a profitable trade?

─ What about the exit signal

Are you checking your charts are that time?
By the time you would have gotten to your charts would it still be a profit?

─ How about the trading style?

Do you have to sit at your charts looking for these trading opportunities for hours upon hours?
Does your wife, family, or friends complain that you work all day and then you sit at your charts all night?

─ Those systems look all great on paper, but in real life they stink

─ Really evaluate them and try to apply real life to the trades, you will find that most of the time you will lose and lose big when they are claiming great profits

So Lets Set The Record Straight

You will watch:
─ MISSION PHOENIX get into trades late
─ MISSION PHOENIX get out of trades late
─ MISSION PHOENIX be very imperfect
─ MISSION PHOENIX make mistakes on a daily basis
─ MISSION PHOENIX win big in the forex currency trading market.

How can I win so big with such a lazy proven system?
─ Because I’m a “little” lazy and I HATE to loose.
─ I sought out my method and my education and tailored it specifically for me

Guess what; I have found that there are a whole bunch of people out there just like me.

This works for anyone and when I started talking with some of my trader friends I found that I was making just as much as them or blowing them out of the water.

In this video we are going to see some more trades that I’m in, 5 of them if I remember correctly. MISSION PHOENIX will also show you that as traders we sometime see some losses during the trade. Does that mean that we close the trade for a loss? No it doesn’t! Not unless there is something telling you that you should close the trade (how do you know if something is telling you, because you use your education and know that the market is telling you that there is nothing wrong and to not close what is going to be a winning position, or it could tell you the opposite and alert you to get out).

In these trades We have 500+ pips profit and we will see that We have an open trade with 99+ pips loss for a total 422 pips profit in trades in 1.5 days!

Now we might stay in these trades for days or weeks? Depends, we will see, but my hunch says “NO” (Really It’s Not a Hunch, I Don’t Have Hunches, there is something telling me that these trends are close to over) and we will look at that in the video as well. I am preconditioned on these trades to jump ship at any sign of things not working out.

Why? Well we will talk about trading mentality versus the specific situation at hand and how we know things could reverse on us for a substantial correction at any time.

This is very important in trading and the key to much success and failure. Just this post alone is worth so much, and you will never get this teaching in a seminar, I’ve taken most of them and the stuff they don’t want you to know, what I’m sharing right here in this blog is what makes and keeps profits, and there is even more that I want to share with you.

We will see how emotionless I am during these trades and with profits and losses:
─ How I am able to do this?
─ What protection mechanism am I using?
─ What is it that has been kept a secret from you?

This is really cool stuff guys. Let me know what you think, feel free to leave comments on the blog below. I read all comments.

Let me know what issues you have in keeping those profits that they do not teach you how to protect, and we’ll see about getting that worked out for you.

I hope you enjoy the video; it is long at 29:12 in length.

-Mission
Live abundantly and then share that abundance.

Forex Training Forex Trading

Video is 29:12 in length

Robert Kiyosaki Why the Rich Get Richer

noreply@blogger.com (Mission) — Tue, 22 Jan 2008 17:14:00 +0000

This was just too good, that I had to post it. A little change in pace, I know from complete forex training, but the ideas are still the same. Also take special note, who you take your financial advice from, who influences your investing?

Robert Kiyosaki Why the Rich Get Richer

Investing in Better Research by Robert Kiyosaki author of Rich Dad Poor Dad and The Cash Flow Quadrant

Posted on Thursday, January 17, 2008, 12:00AM
A few days ago, a reporter asked me if I was losing money in real estate. My reply was, "No, I'm making money."
Confused, he asked, "How can you be making money during the subprime disaster?" I explained that since the real estate market took a downturn, there were more people renting rather than buying, which is great for my apartment business. I also informed him that I'm raising rents since demand for affordable apartments is so high. When someone moves out, I increase the rent and new tenants line up, which means my cash flow is increasing.
He then asked, "Are you looking for new investments?"
A shocked look came over his face when I said, "I've been investing heavily in the stock market since August 2007. I've moved several million dollars into the market."
"The stock market?" he stammered. "Stocks are crashing. Why are you in the stock market? Besides, I thought you were a real estate investor?"
Ignorance Isn't Bliss
As Warren Buffett has said, it's important for society to have accurate and informed sources of information. While I agree, I sometimes wonder about the intelligence of many financial journalists, both in print and the electronic media.
For example, lately on financial TV stations, the reporters have been talking about the run-up in gold and asking, "Is it time to invest in gold and gold stocks?" What a ridiculous question. Now isn't the time to be investing in gold or gold stocks -- that time was 10 years ago, when gold was below $300 an ounce. Investors should've taken substantial positions when gold was cheap. For reporters to be talking about gold today is no different than them reporting on the hot real estate market in 2005, just before the top blew off.
I had dinner with a friend of a friend the other night and he was telling me about the Rothschild formula for investing. According to him, this involves not participating in the first 20 percent or the last 20 percent of an investment run-up. Instead, it's investing in the middle 60 percent, when risks are low and the direction of the price is determined. As the asset value approaches what appears to be the last 20 percent, you sell and move on to another asset class.
As we all know, most amateurs (and, possibly, many reporters) only participate in the last 20 percent.
Take Notes
I wondered if the reporter who asked why I was investing millions in stocks was an investor himself. I did my best to explain to him that there are two things professionals invest for: 1) Capital gains, and 2) Cash flow.
I said, "The amateurs who come in at the top 20 percent of a market are generally investing only for capital gains. In the last real estate boom, the 'flippers' who got no-document, zero-down loans paid very high prices, and hoped for a greater fool than them to take the property off their hands.
"These are some of the people being faced with forecloses today. They're the investors who make the news -- not the investors who are making money."
The reporter then asked me, "So what do you invest for?"
My reply? "Both. If I can, I want both capital gains and cash flow."
I went on to explain that I was investing millions in stocks that were paying a high dividend -- cash flow -- and also had their prices battered down by the market crash, a loss of capital gains.
Spelling It Out
He wasn't the brightest reporter, since he had trouble with the idea of investing for both cash flow and capital gains. After about an hour of explanation, he finally began to understand that I'm not just a real estate investor -- I'm someone who invests for capital gains at a great price, or cash flow at a great price, regardless of the asset class. If the deal is right, it doesn't matter if it's in real estate, commodities, a business, or paper assets.
Here's an example of capital gains for a great price: Back in the 1990s, every time I had some extra cash I would buy some gold or silver. Although I didn't receive any cash flow from gold or silver I knew I was purchasing the metals at a great price, and that someday those prices would rise again.
An example of buying for cash flow at a great price is when I buy a stock that pays a dividend. I wait until the stock market dips and then buy, which is what I'm currently doing. One of the better companies I've been buying is a bulk cargo shipping company that's hauling U.S. grains to India. The more the dollar drops in value, the more grains we export. Every time the market drops, I buy more of this stock at a great price, because I love the cash flow from dividends.
Finally, an example of buying both capital gains and cash flow at a great price is when I find an apartment building at a bargain, and then increase the rents. By doing so, I increase the cash flow and the property value, which translates into capital gains.
Leave It to the Pros
When I watch professional football, I love listening to John Madden because I know he knows what he's talking about. He's been both down in the trenches and in front of the bench as a coach. He knows the game. By that token, one financial reporter I respect is Bloomberg's Kathleen Hayes. She's a savvy reporter who knows what she's talking about. I wonder about some of the other financial reporters.
The problem with much of the financial news in print and on the web, radio, and television is that it comes from journalists who may not be investors. When I listen to most journalists whine and cry about the subprime mess, the slowdown in the economy, and the volatile stock market, I can all but tell that they're not really investors. None of these events really has much impact on professional investors, who follow market trends and are familiar with the underlying fundamentals of the assets they investing in.
So the next time you hear a reporter ask, "Is this the time to be getting into stocks, bonds, real estate, gold, silver, or oil?" remember that it's probably the time to be looking elsewhere. And keep in mind the Rothschild formula of investing. You never want to be too early -- and you also never want to be too late.

Forex Training Forex Trading

I have more videos on the way, the markets have been moving pretty good lately. I'm afraid that I may be slowing down for a little while. Everything has moved so well that we may enter a corrective period, this is when I stay out and protect my profits until we start trending again.

Live trades - 380 pips Profit!!! - Free Forex Training Video

noreply@blogger.com (Mission) — Sat, 19 Jan 2008 15:57:00 +0000

Live trades - 380 pips Profit!!! - Free Forex Training Video

Forex Training Forex Trading

This is another video showing the analysis of the CAD/JPY and the GBP/JPY and real trades. Here I am managing my trades. I just took a look at what the charts were doing and decided to make a video of it because things were starting to reverse on me and when these signals start happening there is no telling how far it will retrace.

It is very easy to trade when the currencies are trending, I only trade during trending periods because it is so easy to make so much profit. I have found that, when people start to try to trade during corrective time frames that even though the general direction was correct and the trade entry was correct, the currency does not behave in the appropriate manner and makes the trader go through very wide ranging swings. This in turn is very hard on the trader's emotions and the trader closes out the trade for a loss or stop losses are misplaced and hit.

Enjoy the video we are doing quite well this month. I ended up closing out these trades immediately after the video for 380 pips profit.

It is very important that traders invest in their eduction. What that investment is does not have to cost a lot of money. However what a trader MUST invest in that does cost something substantial is time. Time is absolutely one of the most important aspects to trading. Don't get me wrong I only want you spending about 15 min maximum looking at charts and trading at a time, but it takes time, it takes months of 15 min sittings looking at charts. This then becomes experience and it is only experience that make you a good trader.

No can we shorten the time that it takes to become a good trader? Well for that it would require somehow sitting with an experienced trader and seeing the analysis done in the same manner that you were trained.

I have not been able to find out there in this world a place where you can receive this type of education that specifically teaches how to trade with a longer term trading and a shorter term investing approach that also mentors it's students over any desired time frame, for a reasonable monetary cost to the students. There are a few programs out there, but the style of trading they teach you require that you sit in front of your computer for hours on end and trading on charts that are much more noisy and make you incur more losses. They also cost a fortune.

Because of this injustice to the consumer and because this is special knowledge that all the free forex learning sites out there will not give you mission phoenix is developing course ware at this very moment that starts at the beginning and take you to professional level. Mission Phoenix is also going to be mentoring you and you get to decide on what level, weekly, or daily. Mission Phoenix wants you to not spend an fortune on your investment education and therefor is developing a lifetime membership of mentorship and coaching that is far less than the cost of many seminars and internet coaching packages out there.

So stay tuned for good things to come!

Live abundantly and then share that abundance!
-Mission

The Trials of a New Forex Trader - Another Case for True Forex Training

noreply@blogger.com (Mission) — Thu, 10 Jan 2008 15:12:00 +0000

The Trials of a New Forex Trader - Another Case for True Forex Training

For this post I wanted to share a good post from a beginner out there in the market. Sometimes I take for granted my method, my education, and my results. It's hard fore me to remember the days of so much uncertainty and all of this seams so simple now. It is very important that you get to sit beside a professional from time to time. To actually do this costs extreme amounts of money, however there are a few professional traders out there that deliver this type of service through the internet via videos. It is vital that mentorship be a part of training. It takes time to start seeing the same things that the profession starts seeing. You can be trained but then people forget, they have to see how the whole thing is put together, time and time again.

Like I said there are mentorship programs out there that are pretty good. I have only found one of them that I sort of like, and I barely found that one. Remember these guys are making tons of money and could careless whether other people out there get it or not. You must find someone who is more interested in teaching and helping others as a driver. There are very few individuals out there that feel this way and that do this. That is why I am here, I'm driven to help my friends and family, and in doing so the means in which I am getting this done lends itself to everyone out there in the world.

So I found this blog post by Colin McGinley. The following is quoted and taken directly from him, and I am not the author of any of the following. Colin did a great job capturing what it is like as a new trader without knowledge and education and utilizing a method that gets you consistent results and prevents you from trading during the times that most people loose all of their gains.

Written by Colin McGinley
My first post of the new year is going to be of the slightly grisly kind. I am going to break down some of the figures that come from my trading results during December 2007.

If you read my blog last month you’ll know that I completely lost control of my trading situation and basically imploded my trading account.

Hopefully I’ll be able to focus on more positive, forward looking topics soon but I have posted a monthly review of my performance each and every month on this blog and I think it is important that I do so as usual. It sort of marks the end of one stage of my trading career and the start of another. After such a traumatic event nothing can ever be the same again.

I closed out 25 entries during December. Only eight of these entries were closed out in positive territory. Fully 14 of those entries were fatefully closed out when I threw in the towel on my positions on December 19.

My account return for the month was -79.09%. To get the true impact of my disastrous December this is what my account equity for the whole of last year looks like on a graph:

The simplified, short hand version is that I was overleveraged and did not handle my losses well at all.

There were many minor errors and mistakes in the prior weeks that culminated in this undesirable result. My trading had become ragged. I needed a break from trading to recharge my batteries but didn’t do so. I didn’t avail myself of the opportunity to extradite myself from the situation when I had the chance. I was pushing myself too hard. I was becoming impatient. I didn’t follow my gut. I didn’t step back and see the bigger picture often enough.

Obviously I want to try and make sure that I don’t make the same mistakes again going forward.

It’s pretty easy to quantify the ways in which this experience has not been pleasant at all. Losing money is never nice. Losing lots of money is even worse. Having to tell your spouse exactly how much money you’ve just lost is something I don’t ever want to have to do again. Especially when future use of that money was linked to potentially moving house or your child’s education.

You doubt if you have what it takes to be a successful trader. Your confidence takes a severe blow.

On the other hand there a few positives that can be taken from the situation. In a way I have the opportunity to completely reboot my trading approach. I can step back and examine my whole trading plan. I can pick over two years worth of trading results to try and determine what things worked well for me and what were my weaknesses.

I am currently putting in place tweaks to my trading plan, mainly on the money management side. The plan for the immediate future is to lock in these changes and to slowly start building back up my confidence by getting back into the market.

I just really love this post, and Colin I'm working hard to get you on the right track. As many of you have mentioned to me I haven't posted anything in a little while. I have been working frantically along with trying to trade on developing a course for you guys. I know my profits are unlike anyone else out there and you want to know how I do it. It very simple, yes it is, and I want to teach. So I've been hard at work developing the course for all of you. It is going to be quite thorough and well I think awesome. I can't wait to start hearing the success stories. So stay posted and we are going to start making some great profits.

Forex Training Forex Trading

-Mission

Live abundantly and then share that abundance!

Free Forex Trading Analysis - Continued GBP/JPY Analysis

noreply@blogger.com (Mission) — Tue, 08 Jan 2008 14:05:00 +0000

Free Forex Trading Analysis - Continued GBP/JPY Analysis

The forex markets are really fun and it's now finally great that the currencies are starting to move after a considerable time of consolidation. Our Great British Pound (GBP) vs. Japanese Yen (JPY) has turned out to be a very profitable trading currency.

Forex Training Forex Trading

Where we left off we were looking at a little Elliot Wave Analysis, We used some Fibonacci analysis as well to look at current price movement. I was also biased towards taking a long position, however notice how I did not allow my bias take over and place a bad trade. In the analysis we say cases for both positions. Long or Short (going up or going down). The deciding factor was how the currency behaved at a critical support resistance zone. When the currency broke that zone, then retested the zone and continued down that was a good low risk entry position downward.

Again we are going to take another look at this currency and see if it is now time to get it. As will most analysis in the currency market the decision is to wait. We spend most time waiting as a currency trader and that takes some patience. However, we are just looking at 1 currency, I am looking at all currencies when I am doing my analysis , and there is typically one currency that is always trending.

It is important to understand that we do not "go to the market," meaning that we go looking for entry points. Entry points should scream out at you, and then when you have the confidence and the patience to then tell that market that is screaming at you "ok, so you're telling me to get in, I'll tell you what, you continue your move and if you retest the new broken support zone and then continue in the same direction that I will believe you and then I will get in." This is called the "market coming to us." We then tell the market to give me proof, it does and we then see we have entered at the beginning of a trend.

So back to waiting. Here is another video showing that same GBP/JPY currency pair, and again we are waiting to see what happens and at this point our job is to do nothing but observe.

Video length is 9:12

Forex Training Forex Trading

Free Forex Training Video - Possible Trade Entry Video GBP/JPY

noreply@blogger.com (Mission) — Fri, 28 Dec 2007 02:31:00 +0000

Free Forex Training Video - Possible Trade Entry Video GBP/JPY

Entering and exiting a trade is everything when trading. It's all about timing. Here is a great example of the forex market behaving as it always does. When I first looked at this chart the emotions kick in and it looks like a great opportunity. But then when my experienced eye kicks in I see that the move is almost over and I should not join the crowd. Instead my technical analysis tells me that it is time to wait.

I and you too should be doing a lot of waiting in the forex market. If you are waiting then you are trading. If you are always trying to make something happen, then you are a member of the heard.

There are always entry and exit signals that have specific technical analysis basis, those entry and exit points are the tools that make very successful traders.

I also mention in this video the difference between trading systems and trading methods. A trading system in a hard core set of rules that governs entry and exits, whereas a trading method is what an experience trader uses. A trading method is a method of trading based on special knowledge and experience, it understands that each situation is different and allows the user to make more accurate assumptions that a trading system can. A trading method is a living and breathing method whereas a trading system is not. A trading method is much better suited for the living, breathing markets.

I hope you enjoy the video looking at technical analysis of the GBP/JPY. Please contact me and give me your feedback, or comments.

This is a 25 min Video. Wanted to let you know before you dove into watching it.

*UPDATE* - since this video was created you can see that the support resistance zone was broken and the currency pair is headed down. I will continue to stay out of this pair on the short term until something more substantial starts to happen. I am anticipating something relatively soon, but it may be after the new years before anything really starts happening.

Forex Training Forex Trading

Live abundantly and then share that abundance.

It's time to make the world a better place.

-Mission

Forex Trading Systems | Forex Software - What's the difference?

noreply@blogger.com (Mission) — Fri, 14 Dec 2007 18:28:00 +0000

Free Forex Training 102 - Forex Trading Systems Forex Software - what's the difference?What core things do successful Forex Traders know?

Forex Training Forex Trading

I found a good press release today that has some good comments that I wanted to share with you. I have bolded some of the key points that are important in forex trading.

Below is a direct quote from the press release:

"There has been significant bad press specifically on forex trading software, and there are certainly some scams online to be aware of, however there are most definitely bonafide options as well. Using forex trading software and systems eliminates the risk involved in currency trading, as Andreas Kirchberger of Forex Killer states "proven software which does the thinking for you and therefore eliminates the human error factor".

There are essentially 3 main factors of successful forex trading software and systems. Firstly selecting your term of trading is crucial to your currency trading success. There are essentially 3 time frames: long term, medium term and short term. The long term trader will hold on to their currency for months. The short term trader, sometimes known as a scalper, is seeking quick fire trades and immediate profits. The medium term trade is the lowest risk option, and require the least amount of capital to realize profits.

Justin Kuepper, a contributor to Investopedia.com, suggests favouring a medium term trade will "help you save money and ultimately become a profitable retail forex trader".Secondly, analysis of technical statistics is required. The currency marketplace is essentially a continuous supply of data which needs to be interpreted and correctly exploited for profit. One needs to be able to understand market fluctuations and be aware of key indicators of a market swing.

This is the attraction of forex trading software, as it will interpret this data and help you make educated decisions on future trades more frequently.Finally, timing of your trades is crucial to your success. John Chen of Profitable Trend Forex System attributes timing in terms of joining a trend as a key ingredient in currency trading success. There are essentially two main orders or decisions one needs to incorporate in one's forex trading system, theses are 'stop loss' and 'take profit'. 'Stop loss' is an order to cease trading when the currency reaches a certain point. 'Take profit' is a more conservative approach to a market upswing, which will result in profit, but not risk a massive collapse." This article comes from 24-7pressrelease.com and is referencing the forextradingsoftwarereview.com website. I did not write the article I am just citing it and want to document where it comes from.

This is a really good article/press release that has some really good points about what profitable forex traders do. Here is my summation and added comments to this article.

Forex has gotten some bad press lately - The forex market is a wonderful market, lets get that straight first. However, there are scams and questionable brokers around every courner. With the right education you can identify these with ease and have a great forex experience.
It is not illustrated well and I will clarify this more in my following Forex Trading Software vs. Forex Tading Systems post - There is a big difference between forex trading software and forex trading systems. One step farther is that there is a big difference in following a forex system blindly or actually knnowing everything about that system and the trading methodology. This only comes from quality Forex Training, this type of forex training is rarely free. If the demand is great enough and you would really like to learn more about forex training, I have an idea that could give you the forex training for less than your monthly starbucks cost. But I won't waste my time if no one is interested so please contact me.
Your term of trading - or your trading style (scalper vs. swing trader vs. investor) makes a big difference in your time investment, your stress levels, and your forex career. What I share with you is going to the medium term style as is what you can do easily without quiting your current job, it takes very little time per day to do, and you can produce expert level gains and results with this term.
The medium term forex stylecombines the best of the highest reward with the lowest risk (scalpers have the lowest risk, however they also have the lowest profits per trade. They make up with this by the number of trades they make - sometimes a hundred+ per day, we don't have this kind of time to invest and we can do the same with a few minutes per day).
Technical analysis of statistics is required (in our language technical analysis is required). That sounds really hard, but if you see that this line "/" is sloping up and this line "\" is sloping down, then you can do technical analysis.
Successful traders uses analysis to determine when to enter and exit trades
Some people use Forex Trading Software to give them signals. I personaly do not trust software, and I know for a fact that it does not always work!!! I will explain this in my following Forex Trading Software vs. Forex Tading Systems post. Trading software tells you when to buy and sell. Easy right,,,,that's what I want!!!! Well it's not that easy. These systems work well during trending markets. So you can make huge gains during a trend, and when you get to a correction you end up loosing it all if not more. OUCH!!! Yes I have been there.
People use Forex Trading Systems to trade by looking at the technical analysis indicators and getting buy and sell signals from those indicators. When looking at the charts you can also take into account other little things, like cases. "Well in this case you would do xxxxxxx, and in that case you would do yyyyyyy" This is something that Forex Trading Software does not do a good job it. It is not human and cannot make those type of descisions.
#8 leads me to this point and that is that taking the last bolded item of the article. Taking the signals (timing) in context or in conjuction with the overall trend of the market is very key to a Forex trader's success. Always go in the direction of the trend and trade with common sense, something a computer does not have. This may all be greek to you but with the right forex training this becomes very elementary and easy.

I have developed over 40 automatic trading advisors, I am an engineer by education and know a thing or two about computer programming. It has taken me a very long time to develop a trading advisor that works. I'm in the long phase of testing it. It is the closest thing to being intelligent enough to know to only trade during tending markets and to not trade during corrective periods.

Trading advisor & automatic trading programs (they execute the trades for you while you are out on the beach) are very hard to come by, the ones that are profitable and work are worth millions of dollars and will only be sold for that. It is much easier for you (unless you have a couple of million dollars to purchase one of these) to gain your forex training and start trading on the medium term time frame.

Forex Training - will never fail you (only your emotions will)

Forex Systems without education - Will produce profits, and will produce losses, you are at the mercy of how much either of those are by cercumstance and luck.

Forex Software - Same as the forex system but can get you into bigger trouble due to the fact that you could be in a corrective period and the software could give you numerous false signals resulting in numberous consecutive loosing trades.

Get you forex education is by for the best means of creating a successful forex career. You won't need anything else except a computer and an internet connection.

If you are interested in me creating a good educational source please contact me. You guys/gals have been great so far and I just wanted to thank you for coming to my blog, you inspire me.

Live abundantly and then share that wealth with those who need it.
-Mission
Forex Training Forex Trading

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

noreply@blogger.com (Mission) — Wed, 12 Dec 2007 04:38:00 +0000

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

Hey Everyone,

Some interesting things happened on this trade. Well I say interesting when really this is kind of normal for the forex market.

I'm so accustomed to the forex market that when you guys come to me for help that I typically respond with what are you talking about, it always happens likes this. This has been actually been an interest of mine over this past month. I have a retirement account that I am still managing and it has just been funny lately, when really it is the same old thing. I've just been growing accustomed to the forex markets. Friends, I always tell people that they need to trade at a minimum of 3 months in a forex demo account before live trading.

Please hear me on this one!!! Look at the gains that I am getting on these trades...it is realistic to double your account every couple of months. REALLY LISTEN TO ME NOW!!! If you could double (that is 100% rate of return on your entire account balance) in 6 months (and we can do it every 3 or 4). Is it worth it to take a little break and "LEARN" the markets, get a feel for the markets, get all messed up like me because you are accustomed to the forex market. This is what you want...I cannot stress enough how lucrative this market is. Now outside of brokers, we have to be better than them. Only 5% of the traders out there can have the success that we are seeing here. Stand by be and you will be in that 5%.

So how to we double our accounts? lets say I risk 3% of my account balance on every trade. I have $10,000, so I riske 3%...that is risking $300. Got it? if not contact me, I want you to make money...so please ask me, I WILL answer any question you have. So we trade with $300. Lets say that I can average 100 pips per trade (I believe I am averaging about 135), So that means that I am make $300 on my 1st trade. I then have $10300 and I riske 3% = $309 (so we stick with our .3 lots or $300 risk) (1 lot trades in the forex market = $1,000 of currency, this would be trading with .3 lots = $300) So now we make $318 with our 100 pips profit. So now our account balance is $10,627. What is 3% of $10600? It is $318. So we are sticking with our $300 risk or .3 lots.

BORING...right!!!! So If I'm making a little over $300 per trade on average (forget the compounding interest), how long does it take to double my account balance. 34 trades is how long. Well I get this many pips every other day or 2 or 3 days. So that is why I say you can double your account balance every 3 or 4 months. I make BIG PIPS, period! That how I trade, my mediocre trades are 100 pips, I get 200 - 700 pips all of the time! I have even had a few 900 - 1000 pip trades. Trading in this manner is also the easiest on you, it's the funnest. I mean how many people can turn $100 to $1000 in one to 4 months time?

HONESTLY....its REALLY boring though! This is not fast money....Could you? Well yes, I'm tempted all the time....(Mission....you make 100 pips profit all the time, why not risk 50, 70, 80% and make some big bucks).....well, it never works out that way. WHY? Emotions! Its a lot easier to see a -100 pip move on $300 (it's only $300 and I made that yesterday), and so I am confident in the indicators and the trends and everything else (yes, I make mistakes too when I enter the market but the overall trend takes care of everything). Then the trade works out...it always does, and I can manage the trade better that way. But when I see that I'm -$7000 on an account, no one can take that kind of loss in a day, or hours, or even minutes in this market. So you close the trade for a HUGE loss!

So if you are looking for excitement (pants flaming and leisure suites in Manhattan), then you've come to the wrong place.

All we do here is make money, in a very boring way. Sorry for the disappointment....but I at least hope that you like the video!!!

In this industry we ALWAYS use stop losses!!!! PERIOD! Now I have traded without them, but this was a big mistake. Don't loose $15K on one trade like I did because of no stop loss. Yes, I have lost, so listen to me when I harp! Lucky I make $17,400 a few hours before on 4 trades. It still REALLY hurt though. I couldn't trade for a week after that.

Forex Training Forex Trading

Have fun guys!!!

Enjoy

Live live abundantly.
-Mission

Part 3 Stop loss-Free Forex Training Video

noreply@blogger.com (Mission) — Mon, 10 Dec 2007 23:31:00 +0000

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 3

Hey Everyone,

I'm glad that you've made it back. I'm continuing to show you what kind of profit potential you can make and how we can lock in profits using stop losses in the forex markets.

This is a short little video showing you that I'm moving the stop loss to another support / resistance zone where I know that if it breaks that zone it will continue to move the opposite direction for a more substantial retracement.

I'm locking 134 pips profit and sitting at about 280 pips profit for the trade.

Forex Training Forex Trading

So I hope that you enjoyed this little video and please "digg it" to the right as this helps other people find this great information so that we can protect them as well. Believe it or not, the more people that find this great industry the better trading opportunities we will see.

If there is a certain topic that you want me to cover please get in touch with me and I will focus on that topic next.

Live abundantly!
-Mission

Stop Losses Continued GBP/AUD : Free Forex Training Video

noreply@blogger.com (Mission) — Sat, 08 Dec 2007 14:21:00 +0000

Here is the continuation of the 1st Free Forex Training Video covering stop losses and how we use them to protect ourselves and lock in profit.

I really hope you enjoy this video I had fun making it and adding in the extra tidbit of information that I find quite amusing.

I'm really glad to see that you guys are loving this stuff, and that gives me the fuel to give you more great information. I'm making 200 pips profit in this trade, that should prove to you that we are going to see some good things here.

Enjoy!

Forex Training Forex Trading

Have a great day!, and I will post more soon.

Live Abundantly and then Share that Abundance
-Mission

As an aside, there are some great things happening in the markets right now. The USD looks strong and there are some opportunities that may be coming up soon.

Disclaimer: Remember, all the opinions and thoughts are my own personal opinion and should not be taken as trading advice and you should always get advice from your financial advisor before taking any actions.

I really don't like that in this day and age we have to use disclaimers!

Have a great weekend!

Stop Losses - Free Forex Training Video - Locking in profits and protecting accounts

noreply@blogger.com (Mission) — Fri, 07 Dec 2007 01:09:00 +0000

Free Forex Training Video on the use of Stop Losses in the Forex Market:

I wanted to get some video content up and show you how we protect ourselves in the Forex Markets when we are forex trading. We want to do 2 things:

Protect ourselves from massive losses
Lock in Profits - so we can be happy and breath easy!!

I hope you enjoy the Free Forex Training Video on stop losses. Please digg it, stumble it, blink it, whatever you use if you like it.

Forex Training Forex Trading

Have a great day and we will learn more about forex training soon!!!

Live Abundantly and then Share that Abundance
-Mission

Forex Training 102 - FOREX BROKERS! -- PART 3

noreply@blogger.com (Mission) — Tue, 04 Dec 2007 00:30:00 +0000

Forex Training 102 - FOREX BROKERS! Who do I give my money to? Whose advice and training do I trust? -- PART 3

Let’s talk about brokers in the Forex industry as a whole as part of your premiere free forex training.

THIS IS A VERY IMPORTANT POST. PLEASE READ FOR YOUR PROTECTION!!!

From Part 2 we have a sense of how to determine what kind of broker we are dealing with.

There is another very important topic I want to cover and that is concerning training. I have been doing Technical Analysis for over six years now and know quite a bit about trading in all markets. I have invested thousands of dollars in my trading education and have receive a very good one. I feel that the difficulty of the material…these secrets are not worth paying thousands for, however the few that are teaching the secrets are controlling the price because they know people with pay it or they won’t invest and that is fine with them.

The next thing I want to cover is all of this FOREX TRAINING that is out there. Have you noticed that all the free training out there is BROKER DRIVEN? This is clearly evident when you go to the site that is offering the free training and there is nothing but advertisements about brokers among everything else. Something that you as a consumer must know is that you are entering a new world. That world is the currency exchange world. This world is entirely online and is a global world, a world that is deregulated, a world that is making more money that any other industry. So then you tell me, “Well Mission, I want to be a part of that world!” There are two money making aspects of the forex world. One is clearly by the traders who reap in huge profits in this industry (by the way, only 5% of forex traders are these guys), the other money making aspect of the forex world is on the brokers side, the side we cannot get a hold of unless we are the one’s scamming people out the their money and getting paid by the brokers (that’s just not my style). So excluding those big traders (the banks and very select few), we are talking about small traders, you and me. The guys who trade with less than hundreds of millions of dollars. There are a lot of us out there, and we are hungry to be in this market. Statistics in the forex market shows that most people loose money in the forex markets and the brokers are banking on this. So what happens? To continue making profits the brokers have to lure more people into this market. How do they do that, by offering more incentives, some like free training? They also boast no commissions; the commissions are just built into the trades with the spread (well go over this later). This also ties into PART 2 of the previous post, can you see how the bad brokers can take advantage of all of this.

An interesting fact to know is that brokers are paying massive dollars for marketing, pay per click advertising for the forex industry is some of the highest paid. These guys are making so much money and most forex traders that I know are loosing money. The money is going somewhere, with some careful attention you can see that the brokers are ending up with it.

The brokers can care less if you loose all of your account or not, they would actually like you to slowly loose your account balance because then they would make more money. This wild world of forex trading can be very easy if you have the right education, but what kind of education do you get from the brokers. Honestly it is very basic, and had been available online fore free more many years. You have to be very careful with your brokers. Chose a broker that is not concentrating on training, and get your training elsewhere, chose your broker by Part 1 & Part 2 of the FOREX Trading 102 posts. There is training available out there that is relatively cheap. I say cheap because remember in the forex you can make 100% profit on 1 trade which I will show you in a video soon. So let’s say you invested $500, there are training programs out there that will pay for themselves in 1 or 2 trades.

It is critical that you get educated before investing money in the forex market. It is critical that you practice in a demo account before you invest any hard earned money. I cannot give you all my secrets here, but a can give you a lot of them. Most of all I want to educate you enough that you can make informed decisions about brokers and also about trading. I want to keep you from making the same mistakes that many people are still recovering from.

I don’t mean for these first few post to scare you out of the forex marker, it is highly rewarding and fulfilling. There is just some work that we must do before we blindly jump into the market.

Hang with me and I’ll be showing some cool stuff coming up in the future. Some real life trades!

Live abundantly and share that abundance with others!

Forex Training | Forex Trading

Forex Training Trading 102 - FOREX BROKERS! Who do I give my money to? Whose advice and training do I trust? -- PART 2

noreply@blogger.com (Mission) — Fri, 30 Nov 2007 19:15:00 +0000

Forex Training Trading 102 - FOREX BROKERS! Who do I give my money to? Whose advice and training do I trust? -- PART 2

Let’s talk about brokers in the Forex industry as a whole as part of your premiere free forex training.

THIS IS A VERY IMPORTANT POST. PLEASE READ FOR YOUR PROTECTION!!!

In the last post I left you at the Swap Test for brokers and how to determine what level of integrity the broker has.

Test 2 is the ECN test. This is going to take some explaining so I’m going to first teach you about the different orders system and how 1 is corrupt and the other is legitimate (in my eyes at least).

Simple Definition:

ECN = Electronic Communication Network – An electron system that brings buyers and sellers together for the electronic execution of orders / trades.

Order House/Market Maker = A broker that takes orders and may not necessarily place that order on the ECN to complete the trade. The broker may find 2 people within the firm that match up and complete the order that way.

You have to call up the broker and ask them what their structure is and how they place their orders. They should tell you (without thinking about it), that the orders go straight onto the ECN for execution and they do not handle any executions of orders, they just submit them via automated computer means.

The other type of broker could hold your order and bet on you loosing you money. So they will show you (virtually via the data stream) that you order went through, they hold the order in their “safe keeping,” betting you you loosing money (since most people do in the forex – because they don’t invest in their forex trading education). So you loose some money, but really that order never went to the market, the broker just kept it the entire time. This may not seam like a problem at first but what happens when you invest in your education and you end up making huge gains time and time again? Well since they didn’t put that order on the market, they will be responsible for taking money out of their account putting it in yours, which they will not like very much.

This type of broker may also have the ability to manipulate the data stream, so lets say you have a trade in place with pretty substantial stop loss (your protection point – a stop loss liquidates your trade at a price that you set that if it breaks you know the trade was wrong, protecting you from massive losses). If the bad broker has flagged your account as being a big winner and a risk to them, they will look at your stop loss and can manipulate the data engage your stop loss, after several of these they will have all of their money back.

Another question to ask them is if you place a trade with them can you see the trade go through on the level II (level two) data? If they say yes, ask what name it will appear as. If they cannot provide the name, beware, if they say no, beware. No I have not told you what this is yet, and it’s a little more than this post can handle. I am considering making a video to better illustrate this point.

This is a good breaking point for today….

To be continued……

Live abundantly and share that abundance with others!

Forex Training | Forex Trading

Forex Trading 102 - FOREX BROKERS! Who do I give my money too? Whose advice and training do I trust? -- PART 1

noreply@blogger.com (Mission) — Thu, 29 Nov 2007 23:59:00 +0000

Forex Trading 102 - FOREX BROKERS! Who do I give my money to? Whose advice and training do I trust? -- PART 1

Let’s talk about brokers in the Forex industry as a whole as part of your premiere free forex training.

THIS IS A VERY IMPORTANT POST. PLEASE READ FOR YOUR PROTECTION!!!

I’m about to make a lot of brokers not happy with me, but it is my duty to tell you that the forex industry is not all that credible. There a lot of shady things going on in the forex market and its not something that we can really prove is going on. There are some tests that we can do to see if we can get the sense that our BROKER is cheating us.

The Forex market is a market that is traded electronically around the world so you have the virtual trading floors all over the place throughout the world. There are different laws and regulations all throughout the world so as you could probably imagine the forex market is the wild west of the 21^st century.

Let that sink in. It is your responsibility to know that you are in a very risky, wild, frontier. That no one will protect you here and that you are on your own. At the same time the rewards of taking on this challenge are unbelievable! You WILL win big!!! You will loose! Its how we win and how we loose that determines whether we win our financial war. Another note to take is that when you win big, don’t get excited about it, it’s part of the job, and when you loose, don’t get excited about, it’s part of the job.

Now back to brokers! There are 2 types of brokers, ok ones, and bad ones. That’s about it. Now the brokers have their own challenges to deal with and we don’t make it any easier on them, but that is all the slack I’m going to give them.

There are 2 areas that we can look at with brokers that give us an idea as to which side of the line they lay on. These are 2 policies the brokers operate by and they are:

Swap Rates Test – The easiest to determine & most brokers will not pass this test

ECN Test – is to determine whether the broker is an ECN broker or an order house/market maker/bucket shop – more difficult to determine – usually take calling the broker and talking to someone. (Update…this will be covered in the next post, the to be continued post that I will post very shortly, like tomorrow…this is in an effort to keep the post to a length limit for your convenience).

To keep this post shorter I will only cover the simpler swap rates and a generic question to call the broker with to determine the broker’s integrity.

Let’s talk about swap rates. What is a swap? A swap is a funny thing that the brokers are required to do. Basically the brokers are not allowed to hold a trade over night, so they must swap your trade out with a fresh new trade. You never see this happen and everything still looks the same but when this actually takes place someone has to pay for the swap. What that payment is, is interest. Depending on the position or direction of the market the swap/interest rate is either positive or negative. So let’s take the EUR/JPY and buy it (buying the EUR) and hold it anticipating that the trade is going up. When I hold it over night, the broker swaps it out, and because of how the finical markets work there is a +swap/interest payment that gets paid to me. So I make money on top of money. This Japanese Yen position is actually called the CARRY TRADE! Interesting right? Take a look at any JPY chart and look at that very long term trend, and then remember the words of Alan Greenspan talking about the unwinding of the carry trade. This is a whole other topic all together.

So we can either have to pay out swap rates or receive swap rates for holding trades over night. Well the brokers determine what the swap rates are. They have to pay or receive a swap rate themselves when they make the transaction and they basically give you a cut of that. You will notice that a swap is greater in one direction or the other. We use these numbers to determine the integrity of the broker. If the swap rate is a 3:1 ratio this is not good. A 2:1 ratio is the least that we will take from a broker. The ideal case would be a 1:1 ratio. Now what do I mean about all of this?

Simple Definition:

Swap long = the interest paid or deducted from you while holding the trade over night for a long position - meaning we buy the Euro in anticipation of the chart increasing in value.

Swap short = the interest paid or deducted from you while holding the trade over night for a Song position - meaning we buy the Dollar in anticipation of the chart decreasing in value.

Let’s take the swap rate for the EUR/USD of an unnamed broker:

EUR/USD:

Swap Long = -.29 (when I buy the Euro vs. Dollar to go up I will have to pay an interest charge every day I hold this)

Swap Short = .21 (when I sell the Euro vs. Dollar to go down I recieve an interest charge every day I hold this)

When we compare these rates we just divide the 2. For this example this shows that the broker is taking their cut, but not taking complete advantage of us. This is actually a really good rate.

.29 / .21 = 1.38 or 1.38:1

Lets look at some more currency pairs…

AUD/CAD: Swap Long = .2 / Swap Short = -.36 -- .36/.2= 1.8 or 1.8:1 = acceptable

GBP/JPY: Swap Long = 3.02 / Swap Short = -3.87 -- 3.87/3.02= 1.3 or 1.3:1 = acceptable

When you see a currency swap rate this is: 1.75/.6 = 2.9:1 which is unacceptable this is a broker who takes advantage of you.

So it looks like this is a good broker….so far (& I hope so since this is my broker). Go ahead and do this for every currency pair, it is a good exercise and can be easily done in excel, this will also serve as your record when brokers want to change swap rates on you.

Brokers change their swap rates, so be careful of this. I called this broker who is not in the U.S. and talked with them and told them that this is how we as customers evaluate them. I complained to them because they increased their swap rates to a ratio of higher than 2:1. Within about 3 months they switched the ratios back, and since that time they have even gotten better.

So this broker passes TEST 1 the swap test.

I will end this post here and will post a separate post for the continuation…

There is a lot of training to be had so that you can survive the Wild West, again if you have to get started right away please get some more training. The trading system in the links section of the blog (upper right) is a good place to start.

To be continued……

Live abundantly and share that abundance with others!

Forex Training | Forex Trading

Forex Trading 101 - What is a PIP? How does Leverage Work?

noreply@blogger.com (Mission) — Thu, 29 Nov 2007 05:12:00 +0000

Forex Trading 101 - What is a PIP? How does Leverage Work?

When I am doing Forex Training one of the most frequent questions that I get asked when first talking to
people about forex trading is "What is a PIP?"

Pip stands for Percentage Increment Point

Since currency trading is buying one currency against another there are no shares to purchase. What you purchase is that actual currency. When you trade currency exchanges you are entering a position in that exchange, so you are positioning yourself on the side of one currency versus they other.

Lets talk in terms of the Euro and the USD. If I have information that is telling me that the USD is declining in value then I may want to buy a currency that is versus the USD. So we could buy the EUR vs. USD or (EUR/USD). As the USD falls the difference in the value between the EUR & USD gets larger. Well how do we define that? Money vs. Money. Money/Money=% right, if 5 apples out of 10 apples were bad (the difference between some being good and some being bad) well how do we define that 5 apples/10 apples = .50 or 50% are bad. So this would be a type of Percentage Increment Point or PIP, in this case it is 50 PIPS (because I only
gave you to 2 decimal places).

Lets say we are keeping track of the EUR/USD and for hypothetical reasons we are going to say that on Jan 1st 2008 it took $1.0000 EUR = $1.0000 USD. So if we looked at the charts we would see the price on that chart as 1.0000.

Well then we check that chart again on Jan 5th 2008 (great day in the year) we see that the chart price has changed to $1.0050. This means that now $1.0000 EUR = $1.0050 USD, it takes more USD to equal EUR, also meaning that the value of the USD fell by $0.0050, or a half of a cent.

Since I gave you the amount in 4 decimal places we are going to call that change 50 pips. Here are some more examples of this:

Change = PIPS
$.0001 = 1 PIP
$.0005 = 5 PIPS
$.0060 = 60 PIPS
$.0700 = 700 PIPS

So know you understand how a pip works. How does that translate to profit?

Well lets take out example of a change in the EUR/USD of $.0050

If I took $1000 and purchased Euros on Jan 1st 2008, and then sold those Euros for Dollars on Jan 5th 2008, I would have made a WHOPPING $5.00 because of the difference $1005 ($1,000 * $.0050 = $5).

Why then is there a FOREX craze going on? (and it's just getting started)

Well here is were the FOREX market comes alive. Ohh MY IT'S ALIVE!!!

This Beasts name is LEVERAGE. It is much like having your very own BIG FOOT (some say fictitious man-like beast roaming the forests with incredible strength). While having BIG FOOT as a friend is nice because you don't need a jack to change a car tire, no one would ever pick on you again, you might even get into some really cool clubs. While all of that is very cool, it sure does hurt when the dumb oaf steps on your foot, takes out walls in your house, destroys your neighbor's car, damages public property. He's a REAL Liability to have around!!!

So unless you have a shock collar to train Big Foot you better be very careful with him! Same goes with leverage, I actually recommend getting a shock collar and wearing while trading, shock yourself right before you place a trade just so that you are reminded that LEVERAGE can be VERY BAD. Please don't put a shock collar on yourself, I was only kidding.

So how can leverage be good and bad. Leverage works like this, it is a loan. Very hard concept, right?

Well in the stock market you can get leverage of 2:1 or 4:1 but really no higher. That means that if I used my $1000, when I placed the trade they actually placed the trade for $4000 (considering 4:1 leverage).

The FOREX market offers much higher leverage, brokers offer varying amounts from 50:1, 100:1, 200:1, and some 400:1. The most common is 100:1 leverage.

Wait one jiffy minute here, do you mean to tell me that if I had $1000 and I was able to trade with 100:1 leverage that would mean that I would be actually trading with $100,000. Why YES that is exactly what I mean!

So now you see that that with that same $1000 and that same Jan 1st - Jan 5th trade with 50 PIPS gain would go from $5 with no leverage to 100 X $5 = $500 and your new balance would be $1500.

This is what drives this new FOREX craze. That is a 50% gain in just a few days. So when we talk about PIPs we loosely associate that to percent gain. Most of the major pairs (currency pairs) pay 1% per PIP with leverage, others are slightly less but that is a whole different conversation and we will save that one for later.

So how is leverage bad? The previous case also hold true if your information was wrong and instead of buying the Euro you bought the US Dollar, that would have yielded a -50 PIP return and now your $1000 would be only $500, ouch!

Earlier I mentioned the information telling me what I need to do. That is what I am here for, I'm going to be showing you the secrets of the systems. Those things that have been kept secret from the many I am going share with you, mainly because this is really easy and I feel guilty
for not telling people how to make their lives better.

There are huge profit potentials in the Forex Market, and I myself have made huge profits, it is not unlikely to make 100, 200, or even 300 PIP profits in 1 day. Just today there was a 485 PIP move in the GBP/JPY (Great British Pound vs Japanese Yen) in 11 hrs.

Stay tuned! I will be showing you some really cool things to come, I will even be uploading some videos showing you examples of some really great gains and how you protect yourself with stop losses. Some of the things I will be showing will be worth THOUSANDS of dollars.

Add me as a friend, get in touch with me, tell me what you want to learn in this industry and I will do my best to getting to everyone's questions and posting the secrets pertaining to those questions.

Please subscribe to my Feeds and that will alert you as to when I have posted something new. It does save time.

If you are dying to start in the forex market and you cannot wait for me to teach you stuff please get some eduction in the forex market before putting any real money in it. A good start to Forex Trading can be found here: Forex Training | Forex Trading

Have fun, and live intentionally!

I am Mission, and I have been given a charge, a quest so to speak from a higher calling to
help all of those that want to learn.

Welcome to the Ultimate Forex Trading Blog

noreply@blogger.com (Mission) — Wed, 28 Nov 2007 04:26:00 +0000

We are going to have a lot of fun here, so hold on to your shorts!!!

Videos and great demonstrations are soon to come introducing you to the great forex trading markets and showing you real live profiting trades that produce astounding rates of return.

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