Rapid Forex e-Course
LESSON #1 - What Is FOREX and How to Take Part in the World's Largest, Most Liquid Trading Market
LESSON #2 - Why FOREX trading is quickly becoming one of the investing world's hottest, most rewarding opportunities. And, why it's our chosen 'Ideal Business.'
LESSON #3 - How Currencies Are Traded, Understanding FOREX Quotes, Market Structure And How to Love a *pip* -- soon to be your best friend! LESSON #4 - Buying (going "long") and selling (going "short") in the FOREX market. How to do it and calculate your profit or loss (you won't win ALL the time, but most of the time, YES, if you've got a good trading method).
LESSON #5 - Charting Your Way to Success: FOREX Price Charts, What They Mean and How to Use Them.
LESSON #6 - Economic Fundamentals: Or, What influences Prices In the FOREX market.
LESSON #7 - Technical Analysis: Or, How to Predict the Future by Studying the Past (even if the "past" was 15 minutes ago).
LESSON #8 - "A rising tide raises all ships" ... Or ... How To Determine if The Trend is truly your friend.
LESSON #9 - FOREX Order Types and How to Use Them.
LESSON #10 - Account Size, Lots, Margins, and the Allure of 200:1 Leverage. LESSON #11 - DEMO Your Way to Forex Trading Success ... or, How To Trade the FOREX for Free !
LESSON #12 - When to LOOK for Trades in the Market That Never Sleeps. LESSON #13 - Equity Management & Margin Control.
LESSON #14 - 200 pips to 200 pips: Small Trades to Big Trades and Somewhere in Between.
LESSON #15 - Discipline, Mental Skills and the Psychology of Trading.
LESSON #16 - Risk-to-Reward Ratios: How to Trade Like an Insurance Company. LESSON #17 - How To Get a Harvard FOREX Education on a Community College Budget.
LESSON #18 - Why You Should Get Your Eager Little Hands on the Biggest Self-taught FOREX Trading Course Packages in Existence.
LESSON #19 - Economic Indicators 101 - How to Have Half Your Trading Battle Plan Created For You.
LESSON #20 - The Ins & Outs of the Business of Trading Money for Money: The Top Questions (With Answers) We Recieve about FOREX Trading. LESSON #1:
"If you think what you do is great, you ain't seen nothing yet. I'm an FX Trader".
Those were the words I heard over three years ago, and since then, regardless of how confrontational, competitive, or in- your-face they may have seemed at the time, I'm glad I heard them. I was just introduced to what we will affectionately call, throughout this mini-course (seriously), "The World's Most Powerful Home-based Business"
Even though you, and I, have had the opportunity to take part in trading foreign currencies for profit (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings. Even though it HAS been somewhat of a loosely guarded secret, more and more investors are turning to the all-electronic world of FOREX trading for income and profit because of its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities.
But, still, whenever something SEEMS new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information. So, in this first Lesson, it is our attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists. Plus, we wouldn't want you to be the one giving the blank stare, at the parties, when someone brings it up :-)
If you'd like to make $200 to $3,000 for as little as ten minutes of work -- work that involves minimal risk, but plenty of upside potential -- then this ongoing email mini- course if for you. As a friend of mine said, “Trading FOREX is like picking money up off the floor. NOT trading FOREX is like leaving it there for someone else to pick up." Others in the industry have also said, “It’s like having an ATM machine on your own computer.”
In this 20-part e-Course series, we will show you what they mean.
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Here's the all-steak, no-sizzle explanation (one we feel you'll appreciate) of what FOREX is and how traders, like us, profit from it:
The Foreign Exchange Market, also referred to the "FOREX" or "FX" market, is the spot (cash) market for currency.
But, don't mistake what we're doing as trading the futures market, where you buy a contract to purchase a particular currency at a future price in time. What we do is much less risky than trading currencies on the futures market, much more profitable, and a lot easier, than trading stocks.
So, you're probably wondering where it's at ... or ... how to access the FX market? The answer is: FX Trading is not bound to any one trading floor and is not centralized on an exchange, as with the stock and futures markets. The FX market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.
Yes, if that's the first time you've heard about an all- electronic market, we know this may sound somewhat intriguing to you. And, it should be, because it certainly is.
Here's what you are actually trading when you participate in the Foreign Exchange (FOREX) market: Essentially, like the large banks who use the FX market to protect themselves from the fluctuating exchange rate of different currencies, as an investor, what we're doing is simultaneously exchanging one countries currency for another. So, in actuality, we're electronically trading a currency-pair and the price that is quoted to us is the exchange rate between the two currencies.
If you just said, "Huh?" ...no worries, we've got ya covered with an explanation. In other words, simply the quoted price is how many of the one currency is worth 1 of the other currency.
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Example:
EUR/USD last trade 1.2850 - One Euro is worth $1.2850 US dollars.
The first currency (in this example, the EURO) is referred to as the base currency and the second (/USD) as the counter or quote currency. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Okay, okay ... let me STOP myself before I get too deep into Currency Pair education (we'll cover that with you in Lesson #3)
Yes, this is a lot to share with you about this relatively new, exciting market of unlimited profit possibilities -- a market that has so many more advantages over other investments, and even over other businesses, that it will blow your socks off. And, being the curious, ambitious guy that you are, I know you'd like to dive in. So, stay tuned for tomorrow's email where we'll tell you why FOREX Trading is the ideal business and what its benefits are over other investing vehicles.
But ..... WAIT !!! I'll at least give you something to chew on overnight.
We get a lot of questions about FOREX - from folks who've never heard of it to advanced, highly-skilled traders.
The one question that keeps popping-up from the former group of people is this: "If people, like you, are making so much money by trading the FOREX, why would you share this information with anyone?" Here's the answer...
The FOREX has a DAILY trading volume of around $1.5 trillion dollars - 30 times larger than the combined volume of all U.S. equity markets. This means that 1,498,574 skilled traders could each take 1 million dollars out of the FOREX market every day and the FOREX would still have more money left than the New York Stock exchange every day!
Wow !
Yes, wow indeed. The FOREX plays a vital role in the world economy and there will always be a tremendous need for the FOREX. International trade increases as technology and communication increases. As long as there is international trade, there will be a FOREX market. The FX market has to exist so a country like Japan can sell products in the United States and be able to receive Japanese Yen in exchange for US Dollar.
So, before tomorrow arrives, just keep this in mind: There's plenty of money for plenty of traders to use the same trading techniques / tactics and profit immensely. And, with only 5% of the daily turnover of volume coming from banks, government and large corporations who need to hedge, imagine what the other 95% is for -- bingo, for speculation and profit.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SIDENOTE: a lot of courses will spend several pages introducing the FOREX by giving a historical perspective. In our opinion, for a trader, this is a waste of time. Yes, it could be interesting to learn about the details on Who, What, When, Where and Why but, just know that historical knowledge will not help you to become a FOREX Trader. However, we will leave you with the QUICK Info below: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Why FOREX trading is quickly becoming one of the investing world's hottest, most rewarding opportunities. And, why it's our chosen 'Ideal Business.'
As ambitious, hungry, time freedom-driven entrepreneurs ourselves, before we were introduced to the concept of Trading-For-a-Living, we had the pleasure of reviewing and seeing IN ACTION hundreds of home business plans, profit-making ideas, and ways to earn a decent income outside of a J-O-B.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SIDENOTE: while we realize the majority of you reading this know J-O-B stands for "Just Over Broke" and that you'll never become wealthy working one forever; and while we understand you're already determined to live your dreams and reach a level of REAL financial independence and Freedom, we still want you to know that it's NOT just all about money -- it's about quality of life. It's about time freedom and self-reliance. It's about families. It's about being able to life a live where you can achieve your recurring daydreams.
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We feel FOREX Trading allows you to live the life you've always wanted more so than any other income vehicle. It, in our opinion, is indeed "The World's Most Powerful Home-based Business". But, more than just analyzing them, we've been a part of quite a few (i.e., Direct Sales, delivery business, Real Estate, marketing consulting, risky investments, etc.). And from meeting with, interviewing, hearing about others in business, studying industries with intensity and/or reading about all the different "gurus of the moment", we have come to find a few SIMPLE truths:
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Business Truth #1:
Quite often people who have money don't have the time to enjoy it, and those that have the time don't have the money!
Well, here's some compelling news for you ... You don't have to sacrifice a LIFE to earn an incredibly above-average income! This isn't a pipe dream. It's purely realistic and completely optimistic to say that, yes, if you FOCUS on FOREX trading for several months, you CAN bring your life into balance.
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Business Truth #2:
Before money is earned...something, somewhere, somehow has to be SOLD. And, if it's not a repeat type (consumable) product or service, as soon as you stop whipping up the sales force your income comes to a screeching halt! ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Listen: "money" is a medium of exchange, nothing more and nothing less. There's no magic way to acquire it. The way to build wealth is to exchange a value-oriented product or service for it. But what if, rather than hiring sales reps (or being one yourself), a full-time accountant, an attorney, administrative staff, customer service / human resource personnel (in other words, "employees"), you could work by yourself and have access to multiple thousands of "customers" (no need to advertise for them either) who are ready and able to BUY from you (or SELL to you) at the drop of a hat? And, wouldn't it be incredibly cool if your business could just laugh-off such traditional hindrances as competition, collection problems, changing fads, bad publicity, political or social events, etc?
Yes, all that and, oops, we almost forgot -- it gets even better... Trade from anywhere. If you like to travel, this is a dream business. Take your laptop with you and you can trade the FOREX and make money anywhere in the world where you have an internet connection. You have total freedom of location. Can you now see why we call this "The World's Most Powerful Home_based Business?"
Business Truth #3:
A classic dilemma: for most, you can't get a job (or start a business) without experience (expertise) and you can't get experience (expertise) without a job (or being involved in business)
When attempting to make more profit than losses on the fluctuation of exchange rates between major currencies (i.e., Trading the FOREX), nobody is going to ask you for a diploma, a formal license or verify the amount of hours you've spent studying the Foreign exchange market and banking industry. Nope, it just ain’t gonna happen! All the training you'll need to get going smoothly is included IN and WITH our Rapid Forex Training Courses (and, of course, the rest of this email mini-course series will give you more solid info than even some books do).
Now that we've talked some about how FOREX Trading Obliterates, like a nuclear explosion, the 3 main disadvantageous business TRUTHS above .....
Here are the highlights on why FOREX is becoming the go-to market for private and institutional traders alike: The Main Benefits of Trading the FX Spot Market: (we'll get into some of the details after this)
· Never a 'Bear' Market!
· No Separate commissions!
· Low to Zero Transaction Costs / Narrow Dealer Spreads!
· A 24-hour Market with Superior Market Liquidity!
· It has up to 200:1 Leverage for Margin Trading!
· Streaming Executable Prices!
· Price Movements Are Highly Predictable!
· FOREX Trading is Economical and Start-up Costs are Low!
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Before we get into the details on the benefits listed above, student, trader, and all- around well-educated investor, it is important to know the differences between cash FOREX (SPOT FX) and currency futures.
In currency futures, the contract size is predetermined. With FOREX (SPOT FX), you may trade any desired amount, typically up to $100,000 USD. The futures market closes at the end of the business day (similar to the stock market). If important data is released overseas while the U.S. futures markets is closed, the next day's opening might sustain large gaps with potential for large losses if the direction of the move is against your position.
The Spot FOREX market runs continuously on a 24-hour basis from 7:00 am New Zealand time Monday morning to 5:00 pm New York Time Friday evening. Dealers in every major FX trading center (Sydney, Tokyo, Hong Kong/Singapore, London, Geneva and New York/Toronto) ensure a smooth transition as liquidity migrates from one time zone to the next.
Furthermore, currency futures trade in non-USD denominated currency amounts only whereas in spot FOREX, an investor can trade either in currency denominations, or in the more conventionally quoted USD amounts. The currency futures pit, even during Regular IMM (International Money Market) hours suffers from sporadic lulls in liquidity and constant price gaps. The spot FOREX market offers constant liquidity and market depth much more consistently than Futures. With IMM futures one is limited in the currency pairs he can trade - Most currency futures are traded only versus the USD - With spot FOREX, you may trade foreign currencies vs. USD or vs. each other on a 'cross' basis as well - ex: EUR/JPY, GBP/JPY, CHF/JPY, EUR/GBP and AUD/NZD (more on what these mean in Lesson #3 tomorrow)
More and more savvy investor and entrepreneurs are shunning traditional financial markets, like stocks, bonds & commodities and building their fortunes in the foreign exchange (FOREX) marketplace.
Here are 7 important reasons why:
1): FOREX is the largest financial market in the world.
With a daily trading volume of over $1.5 trillion, the spot FOREX market can absorb trading sizes that dwarf the capacity of any other market. In fact, when compared with the $50 billion daily market for equities or the $30 billion futures market, it becomes quickly apparent this gives you, and millions of other FOREX traders, almost infinite trading liquidity and flexibility.
2): FOREX is a TRUE 24-hour market.
The FOREX Market never sleeps. Trading positions can be entered and exited at any moment - around the globe, around the clock, six days a week. There is no waiting for an opening bell as in the case of trading stocks. It is a 24- hour, continuous electronic (ONLINE) currency exchange that never closes. This is very desirable for you if you want to trade on a part-time basis, because you can choose when you want to trade: morning, noon or night.
3): There is never a Bear Market in FOREX.
You can have access to a seamless, mutually-inclusive (two- way) exchange of currencies. Meaning, because currencies trade in "pairs" (for example, US dollar vs. yen or US dollar vs. Swiss franc), one side of every currency pair (for example, USD/JPY - JPY = YEN) is constantly moving in relation to the other. Thus, when you buy a particular currency, you are actually simultaneously selling the other currency in that particular pair. As the market moves, one of the currencies will increase in value versus the other. Of course, it is up to you to choose the correct currency to be long or short. Since currency trading always involves buying one currency and selling another, there is no structural bias to the market. This means you have equal potential to profit in both a rising or falling market.
4): High Leverage - up to 200:1 Leverage.
You are permitted to trade foreign currencies on a highly leveraged basis - up to 200 times your investment with some brokers. This is primarily attributed to the higher levels of liquidity within the currency markets. Standard 100,000- unit currency lots can be traded with as little as 1% margin, or $1,000. Mini FX accounts are permitted to trade with just 0.5% margin -- in other words, just $50 allows you to control a 10,000-unit currency position. Futures traders, who are accustomed to margin requirements generally equal to 5%-8% of the contract value, will immediately recognize that the FOREX market provides much greater leverage, and for stock traders, who must post at least 50% margin, there’s no comparison. If you’re looking for an efficient use of trading capital, this is it!
5): Price Movements Are Highly Predictable.
Although currency prices in the FX market may be volatile, they generally repeat themselves in relatively predictable cycles, creating trends. The strong trends that foreign currencies develop are a significant advantage for traders who use the "technical" methods and strategies we teach at RapidForex.com.
Unlike stocks, currencies rarely spend much time in tight trading ranges and have the tendency to develop strong trends. Over 80% of volume is speculative in nature and, as a result, the market frequently overshoots and then corrects itself. As a technically-trained trader, you can easily identify new trends and breakouts, which provide for multiple opportunities to enter and exit positions.
6:) Commission-free Trading and Low Transaction Cost
When you trade FOREX, through one of our recommended brokers (this info is in our private resources section), you'll do it totally commission-free! These brokers don't charge commissions to trade or to maintain an account, and that goes for all clients trading the FOREX through them, regardless of your account balance or trading volume. Even Mini FX traders can buy and sell currencies online, commission-free.
This is worth repeating: No FX commissions!
What about trading fees? There are none of the usual fees to which futures and equity traders are accustomed -- no exchange or clearing fees, no N_F_A or S_E_C fees. Because currencies trade over-the-counter (OTC), via a global electronic network -- in FOREX, what you see is what you get, allowing you to make quick decisions on your trades without having to worry or account for fees that may affect your profit/loss or slippage.
In the equities markets, you must pay both a commission and exchange fees. The over-the-counter structure of the FX market eliminates exchange and clearing fees, which in turn lowers transaction costs.
So, if FOREX broker don't charge commissions, how do they make money? Like all traded financial products, over-the- counter currency trading involves a bid/ask spread, which represents the prices at which your counterparty is willing to trade. Because the currency market offers round-the-clock liquidity, you receive tight, competitive spreads both intra-day and night. Stock traders can be more vulnerable to liquidity risk and typically receive wider trading spreads, especially during after-hours trading.
7): Instantaneous Order Execution and Market Transparency.
Market transparency is highly desired in any trading environment. The greater the market transparency, the more efficient the market becomes. Unlike other markets where transparency is compromised (like in the Enron scandal), FOREX markets are highly transparent (i.e., analyzing countries, and having access to real-time research / news, is easier than companies).
Because of this transparency, as an FX trader, you will be able to exercise risk management strategies in accordance to the fundamental and technical indicators we teach at RapidForex.com
The FX market offers the highest level of market transparency out of all the financial markets. Because of this, order execution and fill confirmation usually occur in just 1-2 seconds. Markets that do not offer executable prices and force traders to absorb slippage obviously compromise the trader's profit potential considerably.
In the forex world, order execution is all-electronic and because you'll be trading via an Internet-based platform, instantaneous execution is routine. There are no exchanges, no traditional open-outcry pits, no floor brokers, and consequently, no delays.
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So, by now, if you haven't caught our FOREX fever -- our belief and interest in this market of unlimited profit- making opportunities -- well ... we're just not too sure what else we can do with you :-)
FOREX trading truly is the "World's Most Powerful Home-based Business" and we invite you to stay-tuned for tomorrow's lesson on *Currency Pairs* - how to read them, calculate profits, recommended pairs to trade, etc.
...
E-nauka