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    Forex Trading: Master The Basics of Currency Investing in a Few Hours-- The Beginner’s Guide: 3 Hour Crash Course
    Forex Trading: Master The Basics of Currency Investing in a Few Hours-- The Beginner’s Guide: 3 Hour Crash Course
    Forex Trading: Master The Basics of Currency Investing in a Few Hours-- The Beginner’s Guide: 3 Hour Crash Course
    Ebook159 pages2 hours

    Forex Trading: Master The Basics of Currency Investing in a Few Hours-- The Beginner’s Guide: 3 Hour Crash Course

    By Edward Day

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    About this ebook

    Discover A Little Known Method to Start Forex Trading in Less Than Three Hours...

    Are you feeling unfulfilled in your work? Are you looking for exciting new ways to earn money and learn new skills?

    Surveys have found that 45% of people are bored of their work. What if it didn't have to be that way? What if there was a way for you to become a player in the biggest financial market in the world?

    Good news, there is! And you don't need a masters degree to access it: all you need is three hours to learn the basic principles behind forex trading, and you'll be all set to take your place in the most liquid market in the world.

    Maybe you thought trading currency was just for bankers and math whizzes, but you were wrong. Being a successful trader doesn't require more than 8th-grade math skills.
    College drop-outs such as 23-year-old Luke Blackburn are the perfect example that anyone can become a millionaire after learning to trade forex.

    Whether you're looking for a lucrative side hustle or a completely new lifestyle, forex trading has its doors open to you… and you can do it all in your pajamas from the comfort of your couch!

    In Forex Trading - 3 Hour Crash Course, you'll learn everything you need to make sense of the forex market and start trading. Here's just a glimpse of what you'll discover:


    Exactly why you can make real money on the forex market
    Everything you need to demystify the jargon
    The secret behind why forex is the best market to play
    All the skills you need to decipher currency quotes and start making money fast
    A blueprint on how to prepare a winning trading strategy
    How to keep your cool in a volatile market
    The top 5 currency pairs to start trading with
    The secret to finding the exact broker you need
    Why 95% of aspiring traders fail - and how you can do better

    And much more.

    With the right resources and three hours of training, even 16-year-old teen traders have turned $193 into $77,371 within less than a year.

    Worried this could be just as boring as a day at the office? No chance! With such an exciting and varied market at your fingertips, anything could happen, and once you've got the basics, there's even more you can learn to become even better and more successful.

    This is just the beginning of your journey. George Soros made a jaw-dropping $1 billion in a single day.

    If you're ready to earn real money quickly, start reading today and begin the journey of a lifetime.

    LanguageEnglish
    PublisherEdward Day
    Release dateApr 18, 2020
    ISBN9781393225331
    Forex Trading: Master The Basics of Currency Investing in a Few Hours-- The Beginner’s Guide: 3 Hour Crash Course

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    • 5/5
      Very sound trading advice. Keeps it really simple in this text. Easy for beginners to understand. I have about 2 years of exp and read a few other trading books. This book repeats concepts such as risk management, candle sticks, higher time frames, but this text gets to the point and easy for beginners. If you really can follow this text to the letter, I won't be surprised to see your trading improve.

    Book preview

    Forex Trading - Edward Day

    Introduction

    "T rading doesn’t just reveal your character, it also builds it if you stay in the game long enough." - by Yvan Byeajee

    If you’ve ever read anything to do with trading then odds are good that you’ve heard all about currencies and forex trading. FX trading as it’s often referred to is different from stock trading in many ways and these distinctions are often lost on many traders. They jump into the forex market without paying any attention to the principles that govern the forex market and get burned.

    Some traders go the opposite direction and stay away entirely from forex. They feel that the risks are far too high and that volatility and liquidity concerns are unmanageable. Then there’s the newbie trader who knows nothing about stocks or forex or even the markets and simply wants to make money.

    No matter which case applies to you, I’d like to extend you a warm welcome. You’ve made an excellent decision by purchasing this book. My aim in writing this book is to not just illuminate the wonderful world of forex trading for you but to also help you become a better trader. Forex market success often carries over into the stock market because the rigors of trading FX more often than not make one a better trader.

    In addition to this the simple fact is that there is more money to be made in forex as compared to trading stocks. It’s no secret that the stock markets around the world these days are dominated by high frequency algorithms that push prices too much in a given direction for the average retail trader to be able to make a profit.

    Did you know that this is not the case in forex? This is just one of the many surprising things you will learn in this book.

    From Beginner to Professional

    This book is aimed at beginners to the forex market. When writing books of this nature, it is essential to make some assumptions. To include the highest number of people who can find this book useful, I’ve also assumed that most readers of this book will be beginners to trading as well. Even if you are a stock market trading expert, I urge you to take the time to read the sections on the basics of the forex market and about the instruments available since they function very differently to stocks.

    Perhaps the biggest point of difference is the astronomical leverage you can access in the forex markets. Understanding and managing leverage is the key to your success since it both boosts your profits massively and creates losses that exceed multiples of your capital. A good forex trader understands that risk management is the key to success over the long term.

    Let’s get something clear right off the bat. It is easy to make money in forex. That’s right! It really isn’t difficult for you to have a string of profitable trades that will increase your account balance. What is tough is keeping that money you’ve made. The combination of leverage and easily spotted trading conditions have caused many a trader to blow up their accounts spectacularly.

    The numbers are stark. According to a study conducted by the American Fx broker FXCM, 95% of accounts that are opened end up closing within a year due to a loss of capital (Rolf, 2020). Of the remaining 5%, only a small fraction last two years and an even smaller fraction end up remaining open for five years.

    Mind you, retaining capital for five years is no guarantee of profits. Making money and keeping that money are two very different things when it comes to FX trading. Does this mean you should simply stick to stocks? Hardly.

    For one thing, the degree to which the forex market moves is far greater than the movements you will see in the stock market. This is a very good thing for you as a trader since the further the market moves, the greater is your money making potential. Think of it this way: If something moves just 5 points a day, there’s only so much money you can make.

    If it were to move 100 points per day, you’d obviously make a lot more! This is pretty much what happens with the FX market when compared to the stock market. Learning how to take advantage of these movements is what this book is all about. You’re going to start off by understanding what the forex market is and how different it is to the stock market.

    You’re then going to go on a deep dive and understand how forex currency instruments work. This is a very important chapter. If you cannot understand the instruments you’re trading, you don’t have much of a chance of success. You will also learn about the importance and danger of leverage and how you can use it wisely.

    There are also some nuances with regards to brokers you need to understand when it comes to FX. You see, the forex brokerage space is a bit like the Wild West compared to the orderly small town that is stock market brokering. The rules are a bit different here and there are some shady practices you could fall victim to.

    You’re going to learn all about these and most importantly, how to protect yourself from them. Once this is done, you’re going to learn how you can read price charts. Too many traders jump right into indicators and all sorts of fancy geometrical shapes and don’t pay any attention to how price actually behaves.

    You’re going to learn an extremely simple method and some easy to spot patterns that will help you identify market conditions and will help you use the right indicators at the right time. Speaking of which you will also learn which indicators are the best to build a trading system around and why.

    The fact is that many indicators don’t work very well these days thanks to oversaturation but the key is to learn how to use them properly. Risk management and mindset are also important points that will be covered here and you need to incorporate these lessons into your trading strategy.

    We’ll end by looking at your trading plan and how you can build one in an optimal manner. Sounds good? The only thing left to address is your reasons for listening to me. There are many self-appointed gurus in this space so why are my words the ones you ought to listen to? I'm glad you asked!

    Why Listen to Me?

    At this point in my life, I am a full-time forex trader and I’m proud to say that it hasn’t been an easy journey. You see, back when I started out, there were no books written about forex and there were no websites dedicated to providing you with trade signals or in-depth market research.

    I was a regular guy with a degree in accounting, working as an accountant and being about as happy as an accountant can possibly be. In other words, I was bored out of mind with all the numbers I was crunching and my ability to get excited at the prospect of shifting expenses to capital expenditures was about spent.

    One of my clients intrigued me immensely, since I had to audit his brokerage statements to calculate his profit and loss figures. I had seen many brokerage statements until that point in time but the stuff I saw here was nothing I could recognize. On further explanation he told me that he was a forex trader and urged me to attend a trading seminar he was attending in town.

    Intrigued I went and it’s safe to say that it got me hooked. I signed up for all the forex courses that were available at the time and was consumed by the market. My happiest moment occurred in 2008 when I could finally say goodbye to my full-time job and live off my trading. I currently am a guest speaker at many forex seminars across the country and mentor people looking to achieve success with their trading.

    While forex is one of my passions, my deepest passion lies in my thirst for knowledge and in sharing everything I’ve learned. This is what motivated me to achieve success with forex in the first place. Despite having a natural inclination to be a trader, it was hard work that got me here.

    I have no special talent and neither am I a genius. I’m just a guy much like you are. My persistence and unwillingness to give up is what brought me here and these are the same things that will fuel your success as well. As I said, you’ve made a great decision to pursue forex trading.

    Now, it’s time for you to go ahead and put some action behind that initial motivation. A world full of riches awaits you. Are you ready to work for it?

    Chapter 1: The Basics of Forex Markets

    Before jumping into the exciting strategies to make money, you first need to understand the environment you’ll be operating in. The forex market is a very different beast from its stock market cousin. While the principles of success remain largely the same in both, the underlying mechanics often create huge differences in the way the instruments in the markets behave.

    The biggest difference or advantage that the forex market has is that it allows the trader to literally pick and choose when they want to trade. Let’s begin by looking at how this is possible.

    Timings

    Stock markets around the

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