Mac X
Maceo Jourdan is recognized as an expert trainer, trader and author of three best-selling trading books and Home Study Courses including "How To Get Filthy Stinking Rich Trading The Forex" book and Home Study, "How To Trade The Harmonics of The Foreign Exchange Markets" Vol. 1, 2 and 3. Maceo has trained over 1,300 students in large seminars, one-on-one and small groups. Get Forex Trading information from Maceo at http://www.TheInsiderCode.com.
Articles by this Author
Here are three types of trading systems in the Forex market. Two are based in the GBP, and one is based in volume trading.
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It is possible for you to get these powers very, very quickly. In order to be able to use them, it is going to take a little bit of time. Now first things first is we have got to be able to get the information into your head.
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Forex Trading - An Introduction to the World of Forex – Part 1
- By Mac X
- Published 07/2/2008
- Unrated
We were doing business in, actually over twenty states. We had well over 400 employees, some agents, vendors. It was a very big operation. It was also during this time that I got introduced to trading.
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Most of us have been walking the planet for 20, 30 or 40 years now. Some of us I know I have talked to, 70 years. It seems like well, I have always walked. We don’t have a conscious idea of how long it took.
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I have literally used this technique to learn very complex subjects in half the time as very skilled supposedly, expert people. In fact, you can use this technique inside for three weeks to become just as knowledgeable and almost as proficient as someone who has been using and understanding that information for ten or fifteen years.
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This is also by the way, a very quick and easy way to learn foreign languages. Just a side note here, one of the reasons why we as adults don’t learn foreign languages as fast as children; this is a personal belief is because we are trying to build the associations at the same time we are trying to learn basic vocabulary. So this is some very advanced cutting edge learning technology that Psychologists and educators even at this point, are just now starting to use.
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Researches have found out that on any information that you read, hear or see; meaning a video or something like that you are going to forget 60% of it inside of 48 hours. Sixty percent; in fact, most people inside of three days, are going to forget 80 to 90% of what they heard. Most of the time it is because they are sitting too long, they are taking notes; they are trying to do what most of us found in school. It’s called cramming which is try to shove all the information in our brains as quickly as possible.
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Here is the most important part and this is something I don’t want you to feel nervous about; just give it a try. Just trust me on this. The last thing is, take a complete break for at least one day, preferably two days. The ideal thing is of course, is we’re talking about going through five discs, would be to go through just one, two, three, four and five Monday through Friday, one disc per day and then take the weekend off.
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For those of you who don’t know, you have got to be careful with some of the guys out there in the Forex market because what happens is interbankfx will pay them money to get you to sign up and trade. I don’t want that pressure at all. I don’t get a dime from these guys. They are just one of the better brokers out there and they have got some really good support. When you go to the interbankfx.com website, you can sign up for a demo account. On that demo account, you will have access to the meta-trader software platform. You will be able to get support and get help if something is going wrong with the software, if you demo account isn’t working. I regularly call these guys to make sure they are answering the phone and if they can answer questions. Up to this point, they have done a really good job. If for some reason that changes, I will let all the members know as soon as possible so you won’t have to deal with them anymore.
The other reason why I like interbankfx, especially if you are just getting started in the Forex, is you can start trading; literally it is ten cents per tic so you’re not risking a lot of money but you are still in there with real money so you get that effect. I think that is the last housekeeping note I had here.
The reason why I wanted to load up my trading screen is because I wanted to go through this whole twenty minute exercise. Believe it or not, one of the things that was hardest I think, for people to believe was that is was only going to take twenty minutes to get the game plan in the marketplace.
There was just disbelief that they would be able in twenty minutes to get any kind of game plan in the market. So what I want to do here is talk a little bit about some of the opportunities that I see in the marketplace and also I am going to go through after those opportunities, exactly this twenty minute game plan. So you will have a very good idea that not only is possible, but exactly how to do it on your own computer. You should see on your screen a weekly chart. If you are seeing the video portion of this of course, don’t worry about it. We are just getting to it.
The reason why I start with the weekly chart is because this is where the really big opportunities are in the Forex market. I know that the course is on short term momentum day trading but the one thing that I learned over time, the number one mistake amongst day traders, even day traders with a lot of experience; they forget that the big money players in the market are looking at longer term charts. In fact, most of the guys that I knew in the hedge fund business would probably have a coronary, would have a heart attack, if someone told them they had to look at a five minute chart.
They would have no idea as to what to do with something like that. I mean these are guys that are looking at, in some cases, five year charts. For every bar, it’s five years of times or a year or quarters, months, weeks certainly; maybe a daily.
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One of the things that especially rookie traders miss is that the market is driven really by the big money players. They are going to think to themselves based on fundamental research; based on quant research, based on talking to bankers, based on inside information, based on corporate mergers and acquisitions information, based on money flow that the British pound is going to be significantly higher inside of six to eight months.
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If the market is going to break and it is going to make a move, I want to know where my first target is. You can see it is just above 9505. One thing you can notice is that the last one, two full weeks were not able to break through either the high or the low. The reason why that is important is if for some reason big money is not willing to sell lower than this price, but they are not willing to buy above this price either.
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The objective for this last portion is going to be introducing to you the whole idea of the planning process. You can get a review of this by going to the membership website and looking at the weekly wrap up. The weekly wrap up, I usually have some good intentions of trying to show you my twenty minute process without any commentary.
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The tool can be dangerous and deadly in the wrong or uneducated hands. Now we are dealing with finances here so it’s not going to directly kill you, inure or maim you. It can do serious financial damage if you’re not careful. When you are watching the videos, it is important that you understand what I am talking about. That is why I wanted to make sure that you would have this cutting edge learning technology so you can get that stuff.
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