FOREX

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FOREXBASICS & SECRETS15 MINUTESThe quick & fun way to learn forex tradingContains illustrations.Doesn’t contain water.THIS CONTENT IS COPYRIGHTED.YOU ARE NOT ALLOWED TO COPY, EDIT,SHARE IT OR ANY OTHER USE WITHOUT PERMISSION.

FOREX IS NOT FOR EVERYONE!Forex trading is a profession with relatively unlimited profit opportunities. However, youhave to be aware that you will need not only knowledge and intuition, but also theability to work under stress and the courage to take risks. Don’t believe those whoguarantee easy money with Forex, because Forex, like any other trade, requires hardwork, discipline and sometimes luck as well.Before beginning in the Forex world, ask yourself if you have the following traits thatdescribe a good salesperson:A quick witThe ability to work and keep calm under stressThe courage to take risksPersistence and the ability to make quick decisionsIf you meet at least three of these criteria, it’s worth trying, because all the rest can belearnt!YOU DON’T HAVE TO BEGREAT TO START. BUTYOU HAVE TO START TOBE GREAT!

INTRO ON METHODICS20%The famous economist Pareto concludedthat 80% of pea harvest comes from 20%of pea plants.20% of people control 80% of all money20% of employees give 80% of all company profitIt’s enough with 20% of the vocabulary of a foreign languageto be able to communicateThe Pareto success principleWhat this means is that 80% of anyresult come from 20% of the actions wedo. The rest of our effort is usuallyunnecessary. The key to success is findingout which knowledge and actions are thenecessary 20%.20%effort80%resultsThe essential 20% of ForexThis e-book contains the most importantinformation and techniques that willallow you to begin trading in the Forexmarket quickly and efficiently, sparing80% of the unnecessary information.

Advantages of forex tradingMake money even in times of crisisWhile the stock market and commercial bank deposits are indeep depression during the crisis, Forex profits, because anychange in currency can be used to make profit. A fallingmarket is as profitable for Forex trading as a developing one.Work while lying in a hammockAll you need to start making money is a computer ora smart phone and an Internet connection. Your workspace and goals are up to you!25 Start with 25Unlike other finance markets, Forex doesn’t require bigsavings for you to take part. There are good and reliableplatforms with minimal deposits of as little as 25! Seethe Top of the Best Platforms at the end of the e-book.Easy rulesUnlike stock markets with tens of thousands of differentshares, Forex works with 8 basic currencies which are thecentre of most trades. Moreover, there are significantly lessfactors that influence currency exchange rates than in thestock market.Take your money whenever you wantA 50 billion market isn’t just a miraculously beautifulnumber – it is also what ensures that you can sell or buyany amount of currency you wish at any moment.

Forex GlossaryFOREXforeignForex is an international currency marketwith daily deals worth 4 billion.exchangeThe most common currency pairsThe trade in Forex occurs between twocurrencies, because one currency is beingbought and another – sold at the sametime.EUR /USDGBP/USDUSD/JPYUSD/CHFEUR /JPYUSD/CADEUR /USD28 %EUR /USDBaseCurrencyQuoteCurrencyTOP PAIR1/3 ofdealsallEUR/USDBuying price (Bid)1.3000Selling price (Ask)spread1.3001pointThe smaller the spread,the more liquid the currency!Point (Pip)The fourth unit after thedecimal point, which is thesmallest unit of an exchange rate.SpreadThe difference between the sellquote and the buy quote (in pips).

What influences exchange rates?Central banksState economicsFinance circulationInterest ratesMandatory reserve fundsExampleGDP, inflation, debtSales amountsInterest from investorsPoliticsStability of governmentsPublic statementsChange of officialsHOW THE EUROEXCHANGE RATE DROPPED.Prime Ministerof Greece announcesreferendumEUR /USDBerlusconiresignsECB announcesa new presidentNov 12011Central banksagree to stimulateliquidity of financial transactionDec 12011The EU cannotagree uponchanges in thetreatySource: Morgan Stanley Research, Bloomberg.

The Golden Tool of ForexTermLeverageLeverage allows one to go through withdeals involving amounts of money thatexceed the amount originally invested.This is an opportunity to gain significantprofit with even small changes inexchange rates.ExampleLeverage: 1:100Invest 1000.Trade with 100 000!Besides, each point by which the exchangerate changes will be multiplied by 100, in your favour!The leverage effect, naturally, also worksthe other way around – in case of loss itincreases its amount. However, there is asolution to loss – the Stop-Loss Order.While using Leverage, the profit potential is limitless, but the loss will neverexceed the original investment. The bestplatforms let you set a Stop-Loss Orderand automatically close the positiononce the exchange rate drops below thedeposit.Make sure you havesettheStop-LossOrder before you starttrading!

Transaction – example 11Following newsSept.Sept.16,16,2011.2011.Information about a repeated crisissituation in Europe appeared as early asseptember 2011. It was already possiblethen to predict that the euro exchangerate should drop soon.World braces for secondwave of the crisisEUR /USD1.400021 lot* ( 1380) selling position isbeing opened, with a leverageratio of 1:10 and an exchangerate of 1.38001.350031.nov20111.dec2011Choosing thetransaction1.3000Making thetransactionA month later, the open position is being closed with andexchange rate of 1.3108.The rate difference is 692points in my favour (1.38001.3108). Profit 6920692 points(leverage)Term*LotA lot is the standard transaction size in theForex market, that equals 100 000 unitsof the base currency.A mini lot 10 000 units.A micro lot 1 000 units.x1(lot)x10

Transaction – example 21Choosing a platformEven if you’re new to Forex, there arebeginner friendly platforms like ETOROthat offer you an interesting opportunity– to follow the best traders and copytheir transactions.2Follow the leadersStart following the best traders andwatch their activities.3TOP tradersRudolph BoyleFollowFollowAlex SlovacekFollowFollowDaniel LanhamFollowFollowCopy the leadersAfter you choose a top trader whoseactions you wish to copy, decide upon anamount of money to invest into copyinghis transactions and press “copy”. ProfitNow you can sit back and watch aprofessional make transactions for you.This is also a good way to learn Forexactions and tips in a real-life tradingenvironment.The reviews of aforementioned and other best platforms can be found in thePlatform TOP at the end of this e-book

10 tips for a successful start1Start gradually6Don’t open many positions at thesame time. It’s better to choosefewer positions, but weigh each ofthem carefully.2Stop-Loss orderAn essential mistake beginnersis closing the transaction tooand thus not using the fullpotential. Trends last longerthey might seem at first!7People often forget to limit their lossand therefore have to step out of thegame very soon. With the Stop-LossOrder, you will be able to control thesituation if the rates changeunexpectedly.3Rule of 1/6Stick to the planEach good trader has their own plan,and the best make an effort to holdon to it. Those who have the time,make daily transactions, otherschoose long-term strategies. Keep itsteady!5Multiple time framesDiferentiate the time frames ofanalysis: weekly graphs are used toobserve trends, daily and hourlygraphs – to observe the best time toopen and close positions.makesoonprofitthanDon’t play againstthe trendTransactions against a trend usuallyresult in loss. Wait for a beneficialtendency and then make your move!8Specialists advise against riskingmore than 1/6 of your free capitalwhenyouaren’tcompletelyconfident.4Don’t stop the profitIf in doubt, followthe leaderIf you still aren’t confident aboutyour decisions, choose a platformthat lets you follow leaders and copytheir transactions.9Trends have momentumBeginners often don’t know thatwhen trends start, they developquickly because they are increased bytraders following them. Use trends inyour favour!10 Close the unsuccessfulDon’t hold unsuccessful positionsopen for a long time. Experienceshows that it’s best to close themearly and move on to others.

Reading graphsThe market can be analysed in several time frames: 10 minutes, hours, days, weeks.It may often seem that these indicators are contradictory. However, they aren’t, youjust need to combine their readings. Analyses of longer time periods showtendencies, ignoring accidental changes, whereas daily and hourly graphs help inchoosing the moment to open and close positions.ExampleMULTIPLE TIME FRAME ANALYSIStimeXLet us look at a daily graph.What do most traders dowhen they see such a curve?They assume that it’s thebeginning of a downwardtendency and bid on the dropof the currency exchangerate. And they’re wrong!1600155031017241500NovembertimeX1900Now let’s look at the samecurrency over a longer periodof time. We see that thedaily shift was accidentaland the tendency is upwardand not the other wayaround.16001300AugSepOktNovDecConclusionFor a successful and precise market analysis, one has to use at least 2-3 time frames!

Best hours for tradingAlthough the Forex market is open24 hours a day (except onweekends), there are hours which arebetter for making transactions. It’sthe London session, which is themost active period, and the timewhen the London session overlapsthe New York session.Trading sessions GMT (Greenwich Mean 00003:002:001:024:02322:00Best timeLondonNew YorkSidneyTokioTrading sessions EST (Eastern Standard 30:0020:0010:0240:02322:00Best timeLondonNew YorkSidneyTokio

How to choose the right trading platform?There are many companies that offer margin trading (Forex) services, and withoutthe knowledge of the essential criteria, it’s easy to get confused in the large offerand choose an unsuitable or, in the worst-case scenario, an unreliable serviceprovider. What is the most important when choosing a platform provider, and howdoes one orientate themselves in so many offers? Below is a compilation of someadvice from several professionals in the Forex market, which can be narrowed downto four basic criteria:Reputation of the companyEvaluate the popularity of the platform provider – whetherthere are any complaints about the services and what thosecomplaints are, what the customer service is and whether ornot profit payments are ever delayed.Convenience of the user interface123You have to evaluate how easy and convenient it is to use theplatform, what analytical options and extra tools it uses. It isbest to check it by using demo accounts that are offered by thebest platforms.Commission for paid transactionsThe commission payments for transactions are described by theSpread, which is the difference between the bid and offer priceof the currency. The bigger it is, the more you will have to paythe service provider. In commercial banks that offer Forex platforms, these commission payments are usually higher thanindependent platforms.Money transactionsThe best platforms provide the opportunity to useInternet-banks, credit cards or online payment operators –PayPal or WebMoney, which are the most convenient and easymethods of receiveing funds.

Best platforms of 2012PlatformMin. DepositLeverageRating1ETORO 501:30visit site2Plus500 1001:30visit site3Ava FX 1001:200visit site4ForexYard 1001:400visit site5Easy Forex 251:200visit site80.5% no šā CFD sniedzēja privātoieguld t ju kontiem zaud nauduDemoAll of these platforms offer free demo accounts so you canpractice before trading with real money!

1. ЕТОRO platform reviewbest forbeginnersOne of the most innovative and acknowledged platforms with the biggest number ofclients – more than 1.5 million users around the globe. Reasonably considered to bethe most user, especially beginner-friendly and easy to understand platform. Theinterface is really amazingly convenient and visually appealing; sparing youcomplicated mechanisms and difficult-to-understand information. eToro is known forits unique “social trading tools” that let you follow other traders’ actions, discuss andcopy the transactions of your favourite traders.Facts Super friendly for beginners Community for sharing & learning Social trading tools Possibility to follow & copyprofessionals Founded in: 2006 Registrated in: Cyprus Regulators: CYSEC, MiFID Minimal deposit: 50 Leverage: up to 1:400 Spreads: EUR/USD 3 points Payments: Creditcards, Paypal,BankWire, MoneyBookers, Webmoney Commissions: No* Contacts: 1-866-350-0881,support@etoro.com* Overnight commissions might be applicablePlatform picturesvisit site

2. Plus 500 platform reviewbest ofall-in-oneYour capital is at risk80.5 % no šāproduktu sniedzēja privāto ieguldītāju kontiem zaudē naudu, veicot CFDtirdzniecību. Jums būtu jāapsver tas, vai varat atļauties uzņemties augsto naudas zaudēšanasriskuA popular platform which has proven itself since 2008. The program is also availablefor mobile devices including iPad which will allow you to make transactions whereveryou are (Highest rated broker in UK’s app store). With Plus500 you can trade not onlyCFDs on currencies but also CFDs on oil, gold, silver and even such commodities ascoffee or sugar!Plus500 CY Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission(License No. 250/14).Plus500AU Pty Ltd (ACN 153301681), licensed by: ASIC in Australia, AFSL #417727, FMA inNewZealand, FSP #486026; Authorised Financial Services Provider in South Africa, FSP #47546. Youdo not own or have any rights to the underlying assets. Please refer to the Disclosuredocuments available on the website.FactsPros Ease of use Tight spread Available for many devices You can also trade CFDson commodities Founded in: 2008 Registrated in: Haifa, Israel Regulators: CySEC Minimal deposit: 100 Leverage: up to 1:30* Spreads: tight and variable Payments: Creditcards, Paypal,Bank Wire Commissions: No Contacts: here* Leverage can be changed according to yourregion, here you can find the exact numbers:https://www.plus500.comPlatform picturesvisit site

3. Ava FX platform revieweditor’schoiceMultiple award winning platform that is known for its reliability. The platform is wellsuited both for beginners and experienced traders as it is easily adaptable to yourneeds and preferences. A great feature is that Ava FX lets you customize and saveyour chosen layout and features. And the best part is the “Mirror Trading” which issimilat to eToro’s “CopyTrader”, and allows you to use the knowledge of experiencedtraders by verifying your decisions and comparing them to Pro’s strategies. You canalso use Semi Mirroring, which allows you to see buy and sell signals in real time.Pros Mirror traderCustomisable dashboard24h supportUltra high securityFacts Founded in: 2006 Registrated in: Ireland Regulators: Central Bank of Ireland Minimal deposit: 100 Leverage: up to 1:200 Spreads: EUR/USD 2 points Payments: Creditcards, Paypal,Webmoney, MoneyBookers, Wire. Commissions: No* Contacts: 1-212-941-9609,customer@avafx.com* Overnight commissions might be applicablePlatform picturesvisit site

4. My Trade Markets platform reviewForex Yard offers the fastest registration - you will be able to start trading in 10minutes. This platform is known for the quick transaction processing and it offersfixed spreads. For the beginners it offers step-by-step instruction videos.Pros Fastest set-up Choise between downloadable orweb platformFacts Founded in: 2004 Registrated in: Cyprus Regulators: CYSEC, MiFID Minimal deposit: 100 Leverage: up to 1:400 Spreads: EUR/USD 3 points Payments: Creditcards, Bank Wire Commissions: No* Contacts: 357-250-250-25,support@forexyard.com* Overnight commissions might be applicablePlatform picturesvisit site

2. Easy Forex platform reviewA friendly but still serious and trustworthy platform which has raised a lot ofprofessionals. This platform offers one of the easiest sign-up processes and multiplepayment receival options. A pleasant feature is the super low minimal deposit - just 25. With one trading account you can trade from desktop, smart phone, iPhoneBlackBerry or PDA. The variety of market reviews and analyses offered by thisplatform is especially remarkable, which helps you make the right decisions.Pros Extra easy & fast sign-up Low minimal deposit Free market analysis news You can trade also withcommoditiesFacts Founded in: 2003 Registrated in: Cyprus Regulators: CYSEC, MiFID Minimal deposit: 25 Leverage: up to 1:200 Spreads: EUR/USD from 3 points Payments: Creditcards, Paypal,Bank Wire Commissions: No* Contacts: cs@easy-forex.com* Overnight commissions might be applicablePlatform picturesvisit site

Forex trading is a profession with relatively unlimited profit opportunities. However, you have to be aware that you will need not only knowledge and intuition, but also the ability to work under stress and the courage to take risks. Don’t believe those who guarantee easy money with Forex, because Forex, like any other trade, requires hard

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