Thursday, April 25, 2024
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Grab Your Slice of a Multi-Trillion Dollar Market

Grab Your Slice of a Multi-Trillion Dollar Market with a PC or Mac in the Comfort of a Back Bedroom or Poolside

I stood there speechless…watching a group of guys tapping away on their keyboards…as graphs and numbers whizzed across the screen.

What were they doing?

They were trading currencies….but with an unusual twist.

I had never seen it done like this before.

I was invited to sit in with this small group of traders by a family friend. They

were trading currencies in the FOREX market.

Now…hold on….I know what you’re thinking ….”This super high risk stuff”.

Before jumping to conclusions …hear me out.

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I thought this was high risk too, and I’m not a rookie.

I traded currency futures as a fulltime money manager for eight years.

But I was completely clueless about the FOREX market….until this little get together.

A $3 Trillion Raging Torrent of Cash at Your Fingertips

Anyway, the FOREX market is a $3 trillion raging torrent of cash.

It’s much different (and less expensive) to trade than currency futures.

But what’s in it for you?

I’ll show you …. and how you can make money trading the FOREX markets in

a second.

But first, I’ll give you some background to help you get started.

This business can be run from anywhere in the world.

The group of traders I mentioned traded FOREX from a back office in a

charming historic building in the village of Rockport Maine.

After my exposure to this market I learned about traders making money in this market from luxury tents in the desert, from small back bedrooms, from empty warehouse offices, from a boat moored at a marina in Fort Myers FL, and from a press box at a major league baseball game!

FOREX is the largest electronic marketplace in the world.

The FOREX market is used by banks, governments, drug cartels, ex-patriots,

international corporations, sheiks, kings, and tiny speculators like you and I.

The best part about this business is you can start trading with less than $2500.

I know several entrepreneurs who started with $1000!

Granted…you can lose money in the FOREX market. Don’t kid yourself.

But I’ll show you how professional traders limit their losses – and you can copy their strategies.

When I talk about “limiting your losses” here’s what I mean…

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A professional currency trader told me, “Managing losses is more important

than making money in this business”.

He added, “Making money is the easy part”.

For this trader managing losing trades became the focal point of his strategy.

There’s an old adage in the FOREX and currency trading markets which states:

“Cut the losers short and let the winners run”

This means a trader needs to learn how and when to cut losing trades, and when and how to let the “winning” trades run wild.

Sometimes it’s easier said than done.

I’ll show you a sound strategy for limiting losses in this week’s issue.

FOREX – or “FX” – stands for Foreign Exchange. It is the largest and most

liquid financial market in the world – 30 times larger than all the U.S. equity markets combined.

“Foreign exchange” is the simultaneous buying of one currency and selling of another.

About 5 percent of the daily volume in this market is from companies and

governments which buy or sell products and services in a foreign country or

must convert profits made in foreign currencies into their domestic currency.

The remaining 95 percent is produced by individual speculators and traders

who participate in the market for profit.

For most entrepreneurs, the best trading opportunities are with the most

commonly traded (and therefore most liquid) currencies, called “the Majors.”

Today, more than 90 percent of all daily transactions involve trading “the

Majors”.

The Forex Currency “Majors” are:

The U.S. Dollar
The Japanese Yen
The Euro
The British Pound
The Swiss Franc
The Canadian Dollar
The Australian Dollar

The FOREX is a true 24-hour market.

In fact, the FOREX begins trading each day in Sydney and moves around the

globe as the business day unfolds in each financial center – first to Tokyo, then

to London, and then on to New York.

Unlike other financial markets, investors can respond to currency fluctuations caused by economic, social, and political events at the time they occur – day or night.

The “FX” market is considered an Over the Counter (OTC) or “interbank”

market, because transactions are conducted between two counterparts over

the telephone or via an electronic network.

And get this…

FX trading is not centralized on an exchange, as it is with the stock and futures markets.

The most significant difference between the FX market and the currency

futures market is participants in the FX market deal on a principal to-principal basis.

In the currency futures market, participants deal, instead, through brokers in an “open outcry” exchange.

Okay here’s the good news…..

Internet brokerages now give individuals access to this market.

The low entry costs (sometimes as low as $500 as I said) have drawn thousands of small investors, traders, and speculators into the market.

But that’s not all…..

Announcing New “Mini” FX Accounts for Smaller Traders and

Investors

The new “mini” FX accounts are a great way for small traders, investors, and speculators to make money too.

Most of the new “mini” FX accounts can be opened with less than $1000. The contracts are about a third of the size of a standard FX contract.

Here are some top brokerages which offer both regular and “mini” FX accounts:

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HotSpotFX
Forex
FXCM
GAIN Capital
Saxo Bank
GCI Financial
IG Foreign Exchange
Global Forex
ForexClub
AFM
CitiFXPro

All of these brokerages will help you open an account and get started trading.

Most FOREX brokerages offer step-by-step practice tutorials too.

Listen…

The sheer number of currencies traded in the FX market serves to ensure extreme volatility on a day-to-day basis.

There will always be currencies which are moving up or down, offering

opportunities for profit (and commensurate risk) to traders.

Believe it or not, extreme volatility is actually a good thing!

It simply means a market is moving like crazy. This means when you’re on the

winning side of a trade you’ll make money much faster!

The FOREX offers a ton of ways to lower risk and enable traders to profit in

both rising and falling markets.

FOREX also makes it possible to leverage positions (the most attractive

aspect of currency futures), with low margin requirements.

Best of all, FOREX charges zero dealing commissions!

FOREX Basics — Easier Than You Think!

1. Buying and Selling Currencies

Currencies are always priced in pairs. All trades result in the simultaneous

purchase of one currency and sale of another.

While trading on FOREX, you would execute a trade only at a time when you

expect the currencies you are buying to increase in value relative to the one you are selling.

If the currency you are buying does increase in value, you must sell the other

currency in order to lock in a profit.

An open trade (or open position), therefore, is a trade in which a trader has

bought or sold a particular currency pair and has not yet sold or bought back

the equivalent amount to close the position.

2. How Base Currencies Are Quoted

The first currency in the pair is considered the base currency; the second is the counter or quote currency.

Most of the time, the U.S. Dollar is the base currency, and quotes are expressed in units of 1 USD per counter currency (for example, USD/JPY or USD/CAD).

The only exceptions to this convention are with the Euro, the Pound Sterling, and the Australian Dollar, which are quoted as dollars per foreign currency.

FOREX quotes always include a bid and an ask price. The “bid” is the price at which the market maker is willing to buy the base currency in exchange for the counter currency.

The “ask” is the price at which the market maker is willing to sell the base currency in exchange for the counter currency. The difference between the bid and the ask prices is referred to as the “spread.”

The cost of establishing a position is determined by the spread, and prices are always quoted using five numbers (for example, 134.85), the final digit of which is referred to as a point or a “pip.

For example, if USD/CAD is quoted with a bid of 134.85 and ask of 134.90, the five-pip spread is the cost of trading this position.

From the start, therefore, the trader must recover the five-pip cost from his profits, necessitating a favorable move in his position in order to simply break even.

3. The Rollover Transaction

In the spot FOREX market, trades must be settled within two business days. For example, if a trader sells a certain number of currency units on Wednesday, he must deliver an equivalent number of units on Friday. Some currency-trading systems may allow for a “rollover,” with which open positions can be swapped forward to the next settlement date (giving an extension of two additional business days).

The interest rate for such a swap is predetermined – and, in fact, these swaps are actually financial instruments that can be traded on the currency market.

In any spot-rollover transaction, the difference between the interest rates of the base and counter currencies is reflected as an overnight loan. If the trader holds a long position in the currency with the higher interest rate, he would gain on the spot rollover.

The amount of such a gain would fluctuate day to day according to the precise interest-rate differential between the base and the counter currencies.

Rollover rates are quoted in dollars and are shown in the interest column of the FOREX trading system. Rollovers do not affect traders who never hold a position overnight, since the rollover is exclusively a day-to-day phenomenon.

What is Margin?

Trading in the currency markets requires a trader to think in a slightly different way about margin.

Margin on the FOREX is not a down payment on a future purchase of equity. It’s a deposit to the trader’s account which will cover any currency-trading losses in the future.

A typical currency-trading system will allow for a very high degree of leverage in its margin requirements, up to 100:1.

The system will automatically calculate the funds necessary for current positions and will check for margin availability before executing any trade.

The FOREX Learning Curve

The learning curve is substantial, especially if you’ve never traded currency futures, options, or equity markets. Therefore, in order to accelerate your understanding of this market, you’ll need to read as much about it as you can.

I’ve listed a few books below that will help. There are also dozens of FOREX trading seminars available. But, as always….buyer beware.

The best FOREX trading seminar would be one conducted by someone who is a successful trader but is also a skillful teacher. Not everyone can teach.

A quick search on Google for “FOREX Training” or “FOREX Seminars” will produce a slew if results.  The best resources are usually based on other people’s recommendations….so read the testimonials.

You’ll find hundreds of books (and reviews) on Amazon.com and AbeBooks.com (used books) too.

A personal recommendation from the League of Power:

The Insider Code FOREX Trading Course:

https://leagueofpower.wpengine.com/insidercode.htm

$50,000 Practice Account Absolutely Risk Free!

At Forex.com you can sign up for a $50,000 FOREX practice account absolutely free. That’s right. A “practice” account. This enables you to try the FOREX waters without risking a dime!

On top of that, Forex.com is packed with free tutorials, webinars and live instructive classes. It’s a great resource for beginning FOREX traders.

Another way to get up to speed in this market would be to work as an intern or apprentice at a FOREX trading firm. That’s how I learned! You’d be amazed by how much you can learn about the FOREX markets by assisting experienced traders.

Because of the opportunity for large profits the FOREX markets are hard to resist.

So it’s a good idea to understand and manage the “risk” potential too.

A Sound Strategy for Limiting Losses

One of the greatest aspects of the FOREX market is the ability to place “stop loss orders”.

A “stop loss order” is an order to buy or sell when the price of a FOREX contract drops or rises to a designated level.

For example, let’s say you buy the Japanese Yen and sell the US Dollar at a certain price point. But the market moves against you….in this example the Yen falls in value in relation to the US Dollar.

You can place a “stop loss order” BEFORE you enter this trade to protect yourself and limit downside losses.

When the “stop loss order” is triggered (automatically and electronically) you would be removed from the trade, and your position would be liquidated.

I always trade using “stop loss orders”….even when seasoned traders tell me I don’t need them!

If you trade the FOREX markets you’ll need to familiarize yourself with the various methods of risk management, like stop loss orders.

This truly is a great digital business opportunity for startup entrepreneurs.

Have fun and trade wisely.

Regards,

Marc Charles

“The King of Business Opportunities”

(Ed Note: Marc Charles is referred to as “The King of Business Opportunities” ….and for good reason. He should be known as “The King of Legitimate Business Opportunities”…because he’s launched, bought, sold reviewed and advised on hundreds of businesses and money making opportunities. He understands legitimate opportunities. Marc has agreed supply League of Power members with crucial updates regarding legitimate business and money making opportunities.)

Action Plan

You need to move on this if you want to start making money.

The one constant I see in startup entrepreneurs is inaction.

Entrepreneurs can be given a clear strategy and formula for making money. But oftentimes they want to “think about it” or evaluate it until they’re blue in the face.

I’ve instructed people to act first…and then “think about it”.

I’m not talking about acting on frivolous or ridiculous information! I’m talking about taking action after you’ve received a legitimate formula, business and strategy for making money.

You can sign up for a $50,000 FOREX.com practice account absolutely risk free today.

You don’t have to spend or risk a dime!

What’s more, you won’t have to give anyone your credit card or personal information either.

It’s that simple!

Valuable Resources:

Recommended Books on Trading FOREX Markets

Trading Global Currency Markets, by Cornelius Luca

An Introduction to Foreign Exchange and Money Markets, by Reuters Financial Currency Markets: How to Access and Trade the World’s Biggest Market, by Phillip Gotthelf

Opening a FOREX trading account

Global Forex Trading
FXCM
Saxo Bank
Crown Forex
FX Solutions, LLC
Forex.com
XPRESSTRADE


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Sponsored Content

These content links are provided by Content.ad. Both Content.ad and the web site upon which the links are displayed may receive compensation when readers click on these links. Some of the content you are redirected to may be sponsored content. View our privacy policy here.

To learn how you can use Content.ad to drive visitors to your content or add this service to your site, please contact us at [email protected].

Family-Friendly Content

Website owners select the type of content that appears in our units. However, if you would like to ensure that Content.ad always displays family-friendly content on this device, regardless of what site you are on, check the option below. Learn More

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