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Originally posted by ftfl


https://secure.efxnow.com/forex2/eng/ct-dummies.pdf

It may take a little time to load, because the link is slow in finding the site and it is a large file too.

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I know when ever I got a new book to read, I used to take a brown paper wrap and cover it. So that the book will stay new and I will treasure it. That was my first instinct.

But more than that I wanted to get digging into it. Take notes if it needs but mental notes for sure. I was able to go back and forth mentally from a chapter to any ones that I read backwards just to refresh, if it need be, then patiently anticipate what the author has to disclose as the next one unfurls.

Then at the end of the day, and some times the next, I just heave a sigh of relief and say, "WOW" what a write up. Could I have "Thunk it"? Such a lovely book!
Then I take a look in the mirror and smile. That is the happiness that I derived and I had company, yes in the mirror.

The last Barber that I heard sing was Perry Como. If all the Barbers could stand upto his ideals, they all will be millionaires. So, learning a profession first becomes necessary. Then, they aim to OWN a Barber shop. I guess it follows. So it does call for a process that one has to work and then gain experience. Also it needs some investment. Ah!, here it is your time and attention.

So, initially learning is a process of investment. Here it is your time. You have to mentally prepare yourself to do it. Then,comes the discipline, just like you prepare a child every day for school with completed home work, dressing, preparing and getting ready with the lunch and other snacks for recess are the requirements, not in any order. But becomes essentials. You even shop basing these in your thoughts (mind). It is what you have to do in every field.

If you did notice, the banks operate with two decimals. i.e., Dollars and Cents. But the Forex Industry works in fourth decimal. Ah! It is called the pips. Not the orange seed that you spit out. But spells the same. Now some have gone into the fifth decimals too, which mean that the competition is so great, they will ever pare the differentials. Cut down on their rates that they charge. Isn't that great News?!

Now with the LEVERAGE of 100:1 or even better 200:1, if you can make larger profits with it, would it not be a boon to you and me. Now if with 100:1 leverage and with the profit of one digit increase in the fourth decimal point you can make $10 dollars or so, then can you not watch and keep a look out on this market and with just click the mouse on the PLATFORM that they provide you make the same with your trading. (instead of calling over the phone or going to a teller) All of this could be accomplished right from your own house or an apartment.

Imagine if you can only capture 20 points or pips per day on one LOT, how well you will progress and get into your retirement.

At the end of 22 days (22 trading days in a month, more or less) you will have 22 x 20 points = 440 .
The next level you can slowly increase it to TWO LOTS. which means,
22 x 20 x 2 = 880 points (pips)
At the end of the fourth month you should have 220 + 440 + 880 + 880 =2420
That should keep you in good stead for a long while.
Now you can move upto next level, which is trade into the 4 lots.
22 x 20 x 4 = 1760. Hey we haven't got past twelve months yet. Now you are making $17,600 each month. WOW!!

I am retired right now, imagine who is going to be my neighbor? You of course. I rather see you in a cage than roaming in the woods, Mr.Couger.

So, it does pay to read a book and master it. It does pay to master and work with a system. It does pay to show others how well you can do this all by yourself.

'GIVE A MAN A FISH, HE LIVES FOR A DAY. TEACH A MAN TO FISH, IT FEEDS HIM FOR A LIFE TIME". I know, I know, you are a vegetarian. And hope you are not allergic to carrying money in your pockets!

Now sit down and become a champion after reading the e-book. I know you can.

Freddie.

Try Vantage account from custom house . They let you convert money at good rates between Foreign currncy accounts. Their rates are better than the banks ...

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We will find a way or we will make one

People looking for a broker without tight NFA regulations can try fxdd.com - good spread - minimum account opening balance only 500$ US.

Also if you sign up at neuraltraders.info you will get free forex signals as well as market review.

Just bouncing this thread for common purpose .. Freddie had given some valuable posts on the first page .

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Fido.

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Originally posted by ftfl

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Originally posted by Cougar

I am not willing to jump into forex or anything but want to do small scale purchase of USD when its

I know, now you want to ask me can I keep on doing this BIG, in a small way? YES. Will I be making money all of the time? May be. Will I be winning all or most of the time. YES. So, how do I start? Simple. Learn the fundamentals first. Then do the same on Paper NEXT. When you are making money with it on Paper you will slowly gain confidence. That ounce of confidence will get you moving to the next level. From there you can proceed into the next level, and so on...

Where do I get that Ounce of Confidence?

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Freddie explained it better than any dummies guide would teach.
I do not trade in currency but my game is similar. I try to live by my Guru's statement. Sometime you win sometime you loose. The whole idea is to have more win than loss. I believe in that and have since been in the positive. Monthly average should be in positive OR change your strategy.