Millionaire Forex Trader Secrets PDF
Millionaire Forex Trader Secrets PDF
Millionaire Forex Trader Secrets PDF
FOREX TRADer
SECRETs report
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What is Forex?
PLUS
My Top 5 Tips for a Successful Trading Career
This early success in my career, got I was now a Vice President in the was at 24 with a six figure salary
me hooked on trading Forex. I could Foreign Exchange business for and a vice-presidency in a major US
see what it could do, I was in awe of a major investment bank (Mellon bank yet I was (in my language)
the sheer size and scale. If the UK Financial Corporation) in the United a salary slave. Yes I had great
Stock market was a paddling pool States, not bad for a guy in his early bonuses, yes I had a fantastic salary
this was the Atlantic Ocean! twenties! but boy did I have to put the hours
Because of my success with the in. Whilst all the time, my trading
Virtual Trading Desk, I was soon Here I was lucky enough to be account was beating my salary into
gobbled up by a big US Bank (my working around some of the very a pulp.
signing bonus was more than my best traders in the world I had
salary from my previous job and, as exclusive access working with high I realised that I, and most people live
you can imagine, my parents were powered Forex traders every single in a world where TIME = MONEY.
ecstatic!). day. Not the big names (i.e. Soros, In other words, the harder I worked
Buffet etc) you hear the more money I made.
bandied around the
Internet and in the Ask anyone how to quadruple their
media - but the real income and their brain asks How
Forex traders who can I work four times harder?.
quietly toil away day Trading changed all of that for me.
after day, bringing in
multi-million dollar I didnt just learn how to make
fortunes for the money trading, from my years
investment banks, working on trading floors around
proprietary trading the world I completely changed
floors and hedge funds my perception of money, wealth
they work for. and time. I discovered that when
you learn how to trade successfully,
Making money trading your perception of money changes
flourished - and it forever.
was at this time that
I stumbled upon a
concept that led to a
complete shift in my
thinking. Up until this
point, I had worked
hard, I had won awards
for my degrees at
university and there I
Through Investing and Trading (both emotional and financial) and tools that others have discovered
(where your money works while I definitely learned the hard way, for before us, and use them to our
you dont), I realised I could make example I have no shame in telling benefit.
exponential income and that in this you that I
case, time is disproportionately burned
related to money. seven
trading
I realised that Money Makes accounts
Money and when you dont just along the
understand that, but you know that way. We
(meaning you do it) Life changes, all have
it literally takes on new meaning. our own
How? You feel lighter, less stressed, journeys to
less worried, different somewhat experience,
nonchalant - its like the big struggle mine led
is over... me to the
realisation
So I continued trading, learning that i could try and gamble this
new strategies, testing everything market or i could use strategies I decided that if Sir Isaac Newton
I came into contact with. I proofed that professionals use and that work. can acknowledge this, so can I. The
my strategies with the traders at Latin is nanos gigantum humeris
work, at my bank and at other I am reminded of this nearly every insidentes meaning: One who
banks. I realised that technical day. When I look at the outer-ring develops future intellectual pursuits
analysis (pouring over charts) is for of a British two pound coin, the by understanding the research and
academics and that strategies inscription reads Standing on the works created by notable thinkers of
(specific rules for entering and Shoulders of Giants. the past.
exiting profitable trades) is what the
game is all about. This was where The words were taken from a letter
the money came from, and before written in 1676 by Isaac Newton to
long it was obvious to me that I his fellow scientist Robert Hooke,
did not need to be a salary slave acknowledging the debt he owed to
anymore. others, if I have seen further it is by
standing on the shoulders of giants
Dont get me wrong this wasnt Meaning, the fastest and most
easy, I certainly have the scars efficient way to success is to use the
After I officially retired from work at people to trade, I should move the London. It employs full time traders
28 I decided to set up a trading students (the cult!) out of the house executing the very strategies I
floor, from my home. and form a proper school and that discovered on my travels around the
is exactly what we did. trading floors of the world, and which
Since those early days, I have been I now impart to new traders who are
passionately sharing the secrets Today, only five years later I have committed to making this work for
with everyone I have come into spoken on almost all major market them too.
contact with. At first it was friends channels including CNBC and
and family but before I knew it, I Bloomberg. The success of the graduates (which
had 17 people camping out at my combine instruction and, importantly,
house trading on my lounge floor I also headline the major investment coaching) has led to being written
from laptops, and Knowledge to events (IX, Euromoney and Master- about in two books, Bets in the City
Action was born in only 3 short Investor to name a few) and by Sally Nicoll where I turned the
months. personally own one of the highest authors trading career around, and
performing private trading floors - she attributes her trading success
My partner suggested that seeing as which is registered and regulated by to our programme and Instant
I was so passionate about teaching the Financial Services Authority in Intuition by Anne Jirsch a well
known psychic who researched my
extraordinary trading profits to
discover if it was based on some
god given gut feel or little known but
easy to use strategies (hint: its
not the former!)
I was also the first (and still only) trading educator to put my
neck on the block by launching a LIVE trading floor where we
actually published the actual trading accounts and results of our
traders.
However, if you just want to grab the if you are serious about producing
tools for FREE, presented here in this a secure income stream and have
document... be my guest. Seriously, always wanted to know exactly how
no love lost. Take them with my to do this properly and consistently
blessing and pass them on to your then speak to my team and get
friends. I have nothing to lose. registered I guarantee you will not
look back!
If you are serious attend Ultimate
Forex and have your hand held
through the trading process and Anyway, without
do what I did STAND ON THE
SHOULDERS OF GIANTS - there further ado... lets
is no substitute for live one on one
trader coaching with strategies - get STARTED!
Due to magnitude of the Forex market, this noise from one or two individuals is smoothed out because of the sheer
size - again. This translates into reliable signals. The power comes when your trading strategies are reliant on
trading these clear signals.
What you are looking at below is a chart of the EURUSD. You are looking at Pivot lines below (well talk more about
these later on), just for now notice how the price bounces ever so accurately off these lines. Trading Strategies that
work, are those which use these type of clear undeniable trading signals.
Take a look at the following example. You can see the spread on Greggs the Bakers is 80 points. That is because
Greggs is not a heavily traded stock ( you dont get many people buying a stock that is $33 a share) and therefore
the spread is wide. This is because Greggs doesnt split its stock, it wants to attract long term investors who are
interested in the dividend it pays out for holding the stock. A trader then would have to pay 80 points just to get into
the trade. At $10/pt this puts the trade at a -$800 loss just on trade entry.
However in the Forex market, the spread is unaffected by market conditions. The spread is always fixed, so you
always know exactly what prices you are dealing at. Why? There are, as said before no size restrictions in the
Forex markets.
EUR / USD
through a central exchange but most good data
providers can give pretty good estimates.
Trade in the Direction of the Trend Wait for the pull back.
We must never trade against the trend. Whether we We look to enter the trade as the bounce is occurring
are trading currencies, stocks, commodities or the In the following diagram, we see the trade is clearly in
indices we must always trade Long (Buy) when the an uptrend. By the way, that is defined as higher-highs
chart is moving upwards and Short (Sell) when the (higher peaks forming) and the higher-lows (the troughs
chart is moving downwards. To consistently reap short are higher as we move from left to right).
term profits and I mean very healthy profits that you can
more than live off, we need to make sure our trade entry As the stock pulls back (1) to the moving average line
meets the following objectives: (thats the blue line in this diagram), we see a series of
red (seller) bars selling off in an uptrend. When the price
1) W e are trading in the same direction as the trend approaches the moving average we would expect it to
ALWAYS! bounce off. We are therefore looking for a reversal bar
2) We wait for the trade to pull back, i.e. if the stock is (red changing back to green in this instance) and looking
moving up, let it retrace to a level and bounce for trade entry around this area.
3) The bars (price bars) are small in length not overly
Now the bounce is occurring we are looking for a small
elongated i.e. volatility and hence risk should be
(undersized) reversal bar, as we see volume increasing
small.
into the move.
1. Retracement to moving
average, major/minor
support or trend line
4. Moving Averages in
Direction of Trend
2. Reversal
Bar
3. Trend
1. Undersized
Reversal Bar
2. Volume into
the move
The small undersized reversal bar really sets up the it. Why? Generally in the height of excitement of a move
strategy of the play. We use this bar alone to work out the full stretch of the accordion player if you like, must
where to place both our entry and our initial stop loss. pull back to allow profit takers to realise their profits. Its
this movement that causes the market to retrace and our
Whats the rationale here? Firstly, there are more buyers novice investors immediately eat a loss.
than sellers in this particular market hence why the
stock is in an uptrend. Thats pretty obvious you say What can we do? We must wait to see the direction of
yes it is. However, no markets move in a straight line, the trend established and the line of the trend. Then
they move up and then they pull back. notice the early profit taking which pulls the currency
back to the line of current trend direction. Now we enter
Most novice investors enter a trade that is clearly moving only on small entry bars - with low risk (i.e. the price
strongly in a direction, only to see it reverse on them bars are small).
almost immediately and take their precious capital with
Lets take a look at some examples of this pivotal based In summary, we want to see the pull back occur and
trade in action. Here on EURUSD we have identified a reverse back towards the direction of the trend when
number of pivots along the trend setting up. this reversal of the retracement is confirmed this is our
confirmation of entry.
At Ultimate Forex, graduates learn exactly how to
identify these key turning points and place low-risk The rule therefore can best be remembered as:
managed trade around these crucial points. With a chart
like this, these types of trades yield literally hundreds of
pips. At a trade size of $10/pt or 1 Standard lot, you are
Buy on the bounce, not on
looking at between $2500 and $3000 profit per trade. the stretch
Your Reward: Risk ratio should be 2:1. In Forex trading, we even take 1:1 reward risk trades in some instances, but
this is only when trading the higher probability strategies which offer 90+% probability of success.
Looking at this trade we may well decide to enter the trade if it breaks through the roof of the consolidation that
has formed between 350 to 345 (consolidation is where the price is in a tight range between the two price points).
Clearly our stop loss (the point where we exit the trade if it goes against us) must be placed just below the support
line at 345 (say 342 to be safe). The Long (buy) entry of the trade, would be placed just as the trade breaks through
the 350 price, (around 352 to be sure).
:1
Reward
(Target Price - Entry Price)
Risk
(Target Price - Entry Price)
If the target profit price is at least three times the risk then the trade makes sense. If not, look elsewhere. You may
well be right, and the share may well go up, but trading like this is too risky and will most likely lead to failure.
The Common, but serious mistake that many full time traders Make and How to Avoid It!
OK, so weve decided that the Reward outweighs the coached him, he had never once had a profitable year
Risk, great news. Now the next important question: and this was his third year! After I taught him to trade-
size correctly he made 115% that very next year!
How much money should I place on the trade?
So you get the gravity of importance. Lets cut to it
Sadly, most novice and full-time traders alike make a
grave mistake at this important fork in the road. Most The position you take (your stake or number of shares
traders simply pluck a number out of thin air or worse you buy) on any one trade should be determined by your
still lazily choose the same amount on every trade they account size, the perceived risk and the proportion of
place big mistake huge! your account you are willing to risk.
This is a classic MESS-UP. Ask your novice, Lets assume you have a trading account of $10,000.
intermediate or semi-pro, not what instruments they are You should only ever risk a small percentage of your
buying or selling but in what quantities - the answer you account on any one trade I recommend that you
will get in most cases? A blank stare never risk more than 2%, and realistically 1% is a
much better risk level. This is the key to success. Most
In fact I once coached a guy, (well call him Punter Pete) failures are because people get greedy and wipe out
who would always spread bet $40 a point on any trade early on.
he traded.
So, using this strategy, you can still make profits since your winning trades outweigh the losses from a larger number
of losing trades.
Position Size =
(1% x account value)/(entry price-stop less)
The Account Risk is determined by the total value of your trading account (in this case $10,000) multiplied by 1%, so
effectively we are saying we cannot lose more than $100 on any trade (i.e. 1% of $10K is $100).
Now we look at the Risk on the trade effectively this is the difference between where you entered the trade (entry
price) and where you exit if it all goes wrong! (Stop loss).
Now, the key question, once trade risk is handled is how to select winning trades. Or more importantly, how to build
a list of trades that are most likely to go in your favour. Notice, I dont even consider looking for trades until I have the
risk management piece handled thats how important it is.
The Trigger Point (TP) is attained 9. Best exits from longs (buys)
on the come when you sell into a crowd
alignment of: just as upward price action
approaches resistance
1. Support/Resistance analysis
10. Only sit through a re-tracement
2. Pattern Recognition
IF your trade plan and time is
3. Evaluation of Risk : Reward targeting several price waves
4. Time Frame Agreement and 11. Expect retracement If your
Indication trade plan targets a larger move
and a consolidation range forms
Squeezing the Trigger after an initial move up, place a
stop just below the range in case
5. Know Trade Size, Stop Loss and
it moves the wrong way. The
Trade Length (no. of days) First
moment the consolidation
6. After entry note your fill price is broken to the upside,
and recalculate risk if necessary move your stop.
7. Measure volume and price
immediately following your entry
is it moving as quickly before
entry as after?
8. EXIT IMMEDIATELY should price
hit a level that proves the trade
wrong Trade Exit
The rules we learn from our daily lives are just so very different from those in the trading world and its the reason
why we are practically hardwired for failure from the start.
For example, throughout life most of us associate the following Exciting = Good (think Casino hall versus
Examination hall).
Apply this to the trading world and it spells disaster. People mistake potential trades that are exciting-looking and
moving for profitable ones. Put simply, if a trade is already moving its too late. It has already moved and therefore it
is time for you to move on!
Yes! Yes!
Yes! Profit = $1000!
20pts in only 2 hours
Boring
Amateurs wait for trades to prove their worth by moving excitingly (the same way people are seduced into casinos)
our intrepid trader jumps in only to see the position reverse and almost immediately run into a loss.
The answer?
Never enter trades that are currently As he watches in earnest, the trade
moving quickly, look for trades that comes all the way back and runs
are about to breakout and enter for him into a loss. You could make a
a low risk entry following a pull back, 30% profit in 2 weeks, and spend the
and try to place your stop loss close next 2 months giving it back. Traders
to a consolidation. use peaks and troughs on charts to
pin-point likely turning points that
Another rule that doesnt work very could end profit run and not their wrist
well in the trading world is Time = watch. Remember the rule: panic
Money. If we are seduced into trading buying leads to panic selling.
off a tip or getting into an exciting
trade and we make a quick profit it What is the best way for a private
is often very easy to imagine that we investor to take their investment
are in for a big win. returns into their own hands? Is there
a preferred route? Having trained
For example, if Punter Pete makes thousands of investors young and
a quick $1000 from a 20 point move old, private and professional I can tell
on the EURUSD at a bet size of you this whether number cruncher
$50/point in only 20 minutes then or starving artist, single mum or
its quite conceivable that his profit retired stock broker they are all
expectations from the trade will be in controlled by the same emotional
the order of $3,500 to $4000. Why? state Greed.
Because he, like most of us have
been conditioned to believe that time How do we counter this state?
is directly related to money and with Can it all be harnessed in a couple
his $1000 potential profit, he decides of hours or days?
to wait a while longer to see if he can
squeeze any more profit out of the
trade.
Listen. After trade entry ask yourself this question when is my trade most at RISK? Answer? Very early on.
in other words, just after you have entered the trade. Given you have entered the trade when the bars are small
(undersized) and the stop loss is close, the distance between the stop loss and entry price will naturally be quite
small.
Our primary objective is to move the stop loss to approximately breakeven. When we have moved the stop loss to
approximately breakeven (based on PRICE and TIME), our next objective is to take ground i.e. lock in profits.
Long $10/point
Risk limited to $10x3 points =$30 Risk
Trend
After the trade has moved into profit and we have reached breakeven we can now look to build the trade.
When a breakout long goes in your favour, consider adding to your position the moment it has cleared intraday
volatility.
Add $5/point
Add $5/point
Long $10/point
Risk limited to $10x3 points =$30 Risk
Trend
Why?
If the trade goes against you (hits stop) your loss is tiny bet size is small
If the trade goes in your favor, you are:
1) Already in profit and now milking it
2) Protected as your stop loss is clear from volatile swings.
When I first started trading, I made notice the way I have structured the 2) They have a clearly defined set of
all the mistakes, I didnt trade size, questions (below) is centered around goals and a plan
I didnt plan, my strategies were outcomes, rather than percentages 3) They have a successful trading
ineffective and I didnt goal set. In or monetary amounts. There is good methodology and they stick to it
fact, its a wonder I ever made it in reason for this your subconscious
4) They trade size every trade they
trading looking back at the earlier cares only about outcomes and not
place
mistakes. If I took a losing trade, monetary amounts. So this exercise
in my darker moments I would ask will work on your internal drive
A smart move RIGHT NOW would
Why am I doing this? Who am I and the build towards a successful
be to PRINT this next section out, if
kidding?! and without defining my trading career.
you havent yet already printed this
goals, I remember answering that
report out. Spend a little time on
question with I have no idea!? You may initially find this exercise
your own really thinking hard about
And then I would take a few weeks somewhat uncomfortable. Thats
the answers to these questions and
out to heal or at least try and forget. ok too we all do. Just know that it
answer honestly. Be honest and
is something that must be done to
have fun with this part of the process
Had I defined my goals clearly, and really focus you on what you want
if you put the time in now to get
learned how to risk manage correctly remember destination first, vehicle
this part nailed when it comes to
it would have been a minor set-back selection - second.
implementing the strategy (the doing
in my journey to financial freedom.
part) youll be miles ahead of those
For me it was a competitive Whenever I am asked by the media
that skimped out on this section. DO
streak and a supportive trading Greg, How do you know if youve
THIS!
environment that kept me going got a star trader in the making on
you could say I had a lot of good one of your Ultimate Forex courses?
references and mentors around me I simply tell them the same I will
every day, so it wasnt long before I tell you there are no star traders
had corrected and got back on the in the making there are those with
horse. Getting the goal and the plan goals and directions, and there are
in place are key to trading success, those without.
so lets get started now!
Successful traders always have
To give you a head start, I have the following attributes:
taken the liberty of starting you 1) They know what they want and
off defining your goals. You will why they want it
2) What do you get if you had true financial independence in your life? List everything out. (What does your
ultimate dream life look like? Where are you? What are you doing?)
3) How would you feel if your answers to (2) above were your daily reality?
5) Why is it crucially important that you take action right now? What will it ultimately cost you if you do not
equip yourself with the tools to make this a reality and take action?
3) How would you feel if your answers to (2) above were your daily reality?
A great mentor helped me with this. He explained that here are two types of time. Horizontal time and
Vertical time. He explained Horizontal time is defined as 30 minutes to an hour a day or little and often.
This
is
where
you
Vertical
time.
24
WANT
to
BE
hours
CRISIS
TIME
And Vertical time is defined as 24 hours, or CRISIS time. In other words, looking at the above diagram
most people try and fix their life (get to where you WANT to BE) in one foul swoop they wait until things
are uncomfortable enough and then try and fix everything in CRISIS mode.
Inexperienced Traders trying to make a $1000 a day on a $10,000 account is a classic example. Whereas, in
horizontal time, ordinary things done consistently produce extraordinary results i.e. just 30 minutes a day, done
consistently produces amazing results.
Lunch
Normal Work
Normal Work
Normal Work
Normal Work
Normal Work
Morning
I also found this to be true with my It all depends on you your outcome. reinvention. Trading is no different.
trading accuracy and results. I found If you want to make money and save Find a good methodology and
that by position trading (holding a lot of time, go for the blueprint system that works and copy it.
positions for three to ten days) every time. If you are looking for a
had vastly better results for only a new experience and have lots of Paying for good systems, trading
fraction of time than my rollercoaster disposable cash and time to waste, education or blueprints is a no-
results from day-trading without then set up your experimental lab brainer in my opinion. Novice
Standing on the
hours spent glued to the screen. and get ready for
It was from these early days that a roller-coaster
I developed and designed my ride its your
shoulders of giants
now multi-award winning trading choice. When
methodology and now world- I first learned
renown trader coaching business, to trade I used
which trains literally thousands of a lot of gut instinct and thought I traders often spurn the idea of
new traders every year to become would figure it all out on my own paying for trading education. When
successful investors and traders. now I look back and realize just you compare the cost of going it
how extremely arrogant that was. alone the system methodology
As a beginner or intermediate trader, I also found myself adjusting my development (in time(years) and
you will be happy to know that all of trading strategies to what I thought trading losses(thousands)) it
your instructions for each trade you was suitable to market conditions. massively outweighs the investment
place (the entry price, stop-loss and Looking back now, I cant believe of a decent education and coaching
take profit) on each trade can all be I actually took this approach - I and youre still no closer to making
set ahead of time. am reminded though every time I consistent income. All you get is
interview a new student and find out the ownership of your losses. If you
This allows us to select our trades how this approach hasnt changed have little professional experience
once a day (in 30 minutes maximum) much in a decade or so. I think we in trading it should be obvious
and have the system manage our are taught at school to be original to you that an investment in your
trades for us literally on autopilot. and inventive and copying or knowledge into proven systems that
Nowadays, most on-line brokers plagiarism is forbidden. I guess this work is be central to your success.
offer this service at no additional is what sets us on a path to go it Trading is a business after all, and
cost. alone as well as people arent like all successful business it
prepared to pay for proper training needs a little resource. Grabbing
and coaching, as they see it as cost hold of a successful trading
Invention and Testing ver-
when really its the best investment methodology is the best example
sus Modeling they could possibly make. of standing on the shoulders of
You have options when learning to giants it is intelligent, smart and
trade. You can buy tons of books, In business if you want to succeed highly cost effective. This is a perfect
study the markets intensely and you need to model a system that example of penny wise, pound
begin the journey of testing and is working and replicate it then foolish.
developing systems. Or you can you can expect similar results. Yet
take the blueprint from a successful still people open their business with
trader and literally copy what they do the goal of being a business owner
overnight. and perish in the desert mid-wheel-
Pre-Programme Set-Up
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Full Software Set-up Including your trading account & charting software package
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We have been awarded The UKs that will ensure you know exactly
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Company here you will find out you have learned on the course,
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and trade LIVE with a professional
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Trader over a period of 3 weeks (3
map to success.
sessions, 1 per week)
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Beverley H
Graduate, Ultimate Forex
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