2

Forex Uncovered Three Forex Pros Reveal The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange By Sue Reddy Silverman

Introduction
Ive never seen a more uncertain or volatile time in the U.S. and the global financial markets. From an election in the U.S. to a near-certain conflict between Israel and Iran to the fiscal cliff on January 1, 2013, all the financial markets face significant headwinds. In times like these that pit country against country, whether on a physical or economic battlefield, being able to trade the right financial instruments successfully has never been more important. As an experienced trader and a former fighter pilot, I know that I have to employ a variety of weapons to varying situations on the battlefield as well as in the markets. Forex is one of the most potent weapons to have in your arsenal to not only hedge against loss but to potentially see outsized gains as a result of trading foreign currency or Forex. In this new, up-close-and-personal report Forex Uncovered three Successful Forex Trading Professionals reveal what they believe to be The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange Their answers may surprise you. They will certainly enlighten you, perhaps even alter the way you trade as well as alter in which market you trade, forever. We asked each trader how they got started trading, why they chose the Forex market particularly in which to trade, major pitfalls theyve had and lessons theyve learned along the way. They share their unique philosophies, strategies and tactics in trading the Forex markets, their proprietary systems, favorite tools and even resources in this report. We also asked them to share their highest highs and lowest lows on the way to answering Whats The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange? And we are happy to share this informative report with you. Matthew Buckley Chief Investment Strategist www.WealthCreationInvesting.com

Expert Forex Traders

Hubert Senters is one of the leading professional traders in the world and is best known for co-founding TradeTheMarkets.com, whose daily research is followed by nearly one million people. Hubert is regularly featured on CNBC, Bloomberg, Fox Business, CNN, CBS Market Watch, Forbes, The Street, Active Trader Magazine, Stocks and Commodities Magazine, Money Show and Traders Expo. He is also a frequent guest speaker for the trading exchanges, including the CME, CBOT, ICE, and Eurex.

Jason Fielder, a 10-year Forex currency trading veteran with FXimpact.com, is widely followed and respected. He began trading in the Stock market, then moved into Commodities, Futures and now Forex. Where others see squiggly lines, he sees profitpulling chart patterns, but what makes him so successful is understanding the personality of the markets and what makes them move. He now helps thousands of traders with the profitable systems and tools hes developed and published.

'Forex' Joe Atkins with 21stcenturyforex.com has more than 30 years of experience as a Sports Analyst who found that trading Forex was similar to the techniques used in profitable sports betting. He spent three years exhaustively studying the Forex markets and has been actively trading since 2001. According to 'Forex' Joe, "The numbers dont lie. Therefore, by using tested, proprietary formulas we are able to find reoccurring situational opportunities to identify prime entry and exit points using mathematical and statistical analysis under current market conditions as guidelines. Once these numbers are found, they have HUGE significance. Then the mindset concepts come into play, determining ones fate after finding your style of attack."

Hubert Senters The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange Interviewer: Hubert: Whats your background and howd you get started trading? Great question and a long story. I got started after I dropped out of college because my mother and father tried to convince me that I wanted to be a veterinarian. I figured out pretty early on that I didnt want to do it. I was working with some veterinarians that didnt have both of their thumbs. They had them cut off at the nub by messing around with large animals like cows and horses, and stuff like that. So it was interesting. So as I was riding around with these veterinarians and they were asking me, Hey, how come you want to be a veterinarian? Im like, Well, because you guys make a lot of money. You are your own boss. You do your own thing, and you dont have to answer to anyone. Then a couple days go by, and then Ive got my arm all the way up a cows ass, up to the shoulder. We were pregnancy checking dairy cattle to see when they were about to drop some calves. I looked over at one while Ive got my arm up a cows ass, and he goes, Why did you say you wanted to do this again? Im like, Thats a great question. So, I decided immediately that this was the wrong industry to go into. Dropped out of college, started a fleet maintenance company, like a Quick Lube on wheels. It comes to you, two people change your oil, charge a little bit higher price. Its kind of like a valet, oil change service. I met a guy who owned a chain of transmission shops, where he would charge me $400 to $800 to fix a transmission, and then I would charge the customer $1,200 to $2,000. We were settling up on some invoices, and then he said, Hey, come on back here. We can settle up on these invoices that you owe me on over lunch, and Im trading. Im asked, Well, what are you trading? I sat down and watched this guy make like $18,000 - well, I mean, what was the number? No, it was $30,000. $32,000 in 18 minutes was what it was. Hubert: I was like, Holy shit. How did you do that? I was just totally surprised. I said, Thats amazing. Do you do that every day? He goes, Well, I trade almost every day, but no. Not every day. I dont make money every day. I asked, Well, what time is lunch tomorrow. He said, At the same time. I said , Do you care if I come by? He goes, No, I dont care. So I ended up selling off my business and I did an old-school apprenticeship underneath that guy for like two years. I took a $5,000 account and built it up to about $20,000 and then lost most of that. Then I took a $25,000 co-managed account, where it was both myself and him

managing it for a small group of people, and we ran it up from $25,000 to $868,000 in like 18 months. Now, I learned some really bad habits doing that, but thats how I got started. Interviewer: Hubert: Interviewer: Hubert: So you were hooked from the beginning? I was. Yes, just like a crack whore. How did it feel to lose the first $20,000? Well, it sucked. I mean, the first time I had a winning trade I basically doubled or quadrupled the account. The second trade, I basically wiped it out in half, so on that second trade I actually ended up going to the bathroom and throwing up I got so nauseous. Really? Yeah. I would imagine. Its like the highs and the lows. Oh, yeah. What made you then decide to trade the Forex market? Well, I trade a little bit of everything. I think its really good to trade forex, just because now were in a global economy. It just makes sense When I originally got started out, I was trading the stocks, and there was no real good effective way to hedge, unless you were just hedging in the futures or hedging forex. You could do options trades, but you had to understand exactly how everything worked, and we werent too keen on hedging with options. So, what we would do is wed start hedging in the forex markets, so that if we had exposure in the stocks, we could either go long or short the dollar, or long or short the euro, and that would protect our overnight positions. Interviewer: Hubert: So you sort of did it as a diversification method? I did, yeah. Originally, it was started as diversification. Then as you find out some of the advantages of trading forex, you kind of lean more towards that way. But like I said, I mean, I trade everything that moves. But the forex is a great market for beginners to start trading in. Whats unique about how you trade Forex and what makes you successful at it? Successful is kind of a weird term. From a day-to-day standpoint - your goal every day is to make more money than you lose - you almost always have trades that you lose money on. So what I try to look at it is a little bit longer-term approach. I mean, Im not just a day trader. I will build up a core position, and

Interviewer: Hubert: Interviewer: Hubert:

Interviewer: Hubert:

then I will trade around it. Where most people that trade just have on one position, what Ill do is I will build up a core position in, say, the euro or the yen, or the Aussie dollar, and then what Ill do is Ill trade around that. So, in other words, lets say Im long the Aussie dollar, if Im long the yen or long the euro, if thats going up thats great. But if it goes down, Ill go in a different account and Ill short that so that Im hedged both ways. I think thats one of the advantages of being a professional trader. You understand the difference between holding a core trade and trading around a core position. Interviewer: You trade in multiple accounts different ways depending on how youve strategically planned it? Correct, yes. Do you recommend that for beginning traders? For beginner traders, heres what I would do. I mean, the forex market has the lowest barrier of entry of any markets out there. You can start up a forex account for $300 to $500 with a credit card, right? Right. I would start out with doing either micro or mini-lots, which means youre not going to do a standard lot. All that means is instead of making tick values that are $10 or $12.50. Or depending on what the tick multiplier is, what youre going to be doing is youre going to be making pennies or youre going to be making dollars. So its a great way to start if youre trading forex and youre trading multiple contracts, you can trade minis or micros, and youre not going to make a killing, but youre really not going to get hurt too bad either. So I think its a great way to start. The best thing that I would switch over to is if youve got a lot of people that have $300 to $500 or $300 to $2,000 in their account. The best way to double that account over a period of time is to swing trade, so get into a good currency thats trending well, and set in it a little bit, and let it work for you. As opposed to, the reason most people lose money in the forex or in any market is because theyre always jumping in and jumping out. Theyre long, short, long, short, get in, get out, get in, get out, and they end up taking - they have small profit, small profit, small profit, and then they have one big ass, huge losing trade that just wipes them out. Interviewer: What does swing trade mean?

Hubert: Interviewer: Hubert:

Interviewer: Hubert:

Hubert:

All right, so a swing trade would be - a core position, youre going to hold it for a very long period of time. A swing trade would mean youre going to hold it for multiple days or multiple weeks, or multiple months. Then a day trade would be, youre just going to be in it for that day and youre going to be flat by the close of the day. In other words, there are a variety of different ways that you want to approach trading in order to hedge. Exactly. So first, what youre going to do is youre going to try and figure out how to match your personality to the forex pair that youre going to be trading. This wont be an exact example, but lets pretend that the Aussie dollar cross, lets say it trends better than, say, the British pound, or the Japanese yen. So if youre a trend trader, and you like to buy breakouts, then you would be better off buying the Aussie dollar than you would, say, going in the Japanese yen, because each one of them has their own distinct personalities. You first have to decide, are you a trend trader? Or are you a counter-trend trader? If you dont know the relationships and the personalities of each cross and each currency future or forex market, itll definitely hurt you.

Interviewer:

Hubert:

Interviewer:

Are different currencies better than others to trade and are there currencies you just wouldnt touch because theyre too unstable? Yeah. I would stay away from the exotics. I would stay in the six majors. Thats where everyone should start because thats where the most volume is. Its also where the most competition is, but itll give you the most liquidity to get in and out, and usually liquidity is your friend and not your foe. So, I would trade the six majors. I would stay away from the exotics. Are there different times of the year that are better for trading forex than others? I dont know if theres a better time of the year to trade than others. A season? I mean you do have seasonality in every single currency there. Heres what a lot of people dont talk about. Its a dirty little secret that none of us professional traders really confess to. Most of us make most of our money in a three-month span of time. Then were spending the rest of the year trying not to give it back. So, a lot of people think that were in here and were just making money handover-fist every day, and its really not the reality. Whats really happening is were making most of our money in a period of three or four months, and then the rest of the time were just trying not to give that big chunk of change that we made back.

Hubert:

Interviewer: Hubert: Interviewer: Hubert:

Interviewer: Hubert: Interviewer: Hubert:

Okay and thats where the hedging comes in, I guess? Yes, exactly. How much of forex trading is based upon mindset? Is that a word that you use? Mindset, trading psychology, its all the same thing. Its the head game. I think 99.9% of trading is all the head game. You will find a lot of people that just want to know your strategies and your tactics, and you can probably teach someone how to trade in two weeks. But its the experience, and its also like telling somebody, All right, now you have a setup. Now you have to take the long here. When the thing is screaming lower and you have to say, No, you have a setup here. You need to go long. Everything in their fiber, in their being, is going, There is no way Im going long here. Youre like, Well you have a setup here, why arent you taking it? Well, because its going lower. Then you get into the bad spot, you dont take it, and then it bounces. Then youre pissed off because you didnt take it, and now you chase it and you get in at the worst possible time. Then it rolls back over on you. Then what the funny thing is, if you go mentally bankrupt, youre screwed. Youll never recover from it. You can always go physical money bankrupt. You can always get more money somewhere if you know how to trade. Someone will back you or someone will give you another shot. But if you go mentally bankrupt, no one will touch you with a ten-foot pole.

Interviewer:

We talked a little bit about why forex traders fail. Could you give me the number one reason forex traders fail? The number one reason is they approach it like gambling. That can be a good thing and that can be a bad thing. But most people approach it as, Okay, Ive got $2,000. I would love to turn this $2,000 into $10,000. Im just going to throw a trade on and see what happens. Where they dont really approach it like youre hunting or like a business, they just pursue and they chase with no real good business plan, no trading plan. They dont have a real clear-cut, defined entry and exit signal. Theyre really just trading from the seat of their pants.

Hubert:

Interviewer: Hubert:

Its like the Wheel of Fortune. Im just going to play seven today. Exactly.

10

Interviewer: Hubert:

Whats your biggest success trading forex? Biggest success trading forex? Thatd be hard to quantify because I trade so much different stuff. I wouldnt even know where to begin to tell you what the biggest Are you talking about biggest success or biggest profits, or what? Really, you could choose. I was speaking specifically for forex, because this is a forex report. I know that youve had tremendous successes throughout your trading career. I was trying to limit it to forex, so its kind of up to you.

Interviewer:

Hubert:

I really trade the euro quite a bit, so the most recent biggest trade lately has been a signal that we got in late July, long the euro from around 122 and held it pretty much all the way up to 129. So that was a pretty good lick, the most recent one that I can talk about. What about your greatest failure? Greatest failure, the biggest drawdown Ive ever had in an account in general is a 50% drawdown, so thats the biggest failure Ive ever had across the board. That just came across the entire account trading everything. But the biggest thing was 50% all down. Did you not see it coming? Oh, sure. You see it coming like a train. But you just cant really get out of the way of it. You just keep digging a hole deeper, and deeper, and deeper. Because what happens is, youre trying to stick to your trading plan and your trading plan dictates that you do this. Well, you keep doing that and its not working. You keep doing it and its not working. So then you adjust and then the thing that you were doing starts to work again, so it kind of throws you off a little kilter, and it takes a while for you to kind of adjust back and go, Okay, Ive got to work my way out of this hole. You see it happening. Its very painful and theres not a thing you can do about it.

Interviewer: Hubert:

Interviewer: Hubert:

Interviewer:

Is that like people who bet the lottery and pick the same numbers week after week and then finally dont bet and then thats when the numbers come in? See, then thats when you have to make sure there are no sharp knives or guns in the house anywhere. Exactly. Whats the biggest lesson you learned when trading forex?

Hubert:

Interviewer:

11

Hubert:

Biggest lesson learned trading forex is use larger stops. Most people that trade forex will only use like a 20 pip stop loss, and you really need the wide master stops. Cut your size in half. In other words, if youre trading ten lots, trade three or four lots or five lots and then double your stop size, because the forex can usually trend pretty good, and you want to make sure that you stay in those trends longer, so you want to hold it a little bit longer. So, cut your size in half, double your stops and see if you can stay in the trades longer. Thatll help out a lot. Do global events affect forex markets? Yes. Global affects - every little, sometimes things like a butterfly can flap its wings in Australia and itll move the Kiwi sometimes or the British pound. So, every little economic news release out there will move the markets. There are a couple really good resources for it. Forexfactory.com has a really good economic calendar. So depending on which currency youre trading, you can select the country and the currency pair and itll tell you, Look, this is going to move the yen, this is going to move the dollar, this is going to move the euro, so you know which economic news releases are coming your way. If someone wants to make $300 a week consistently trading the forex market, what would that look like? I would start out - theres a really good strategy you can do. Its called gap trading on forex. Theres a gap every Sunday night when forex opens up at 6:00. Im talking East Coast times here, because forex is open 24 hours a day, right? But it closes down on Friday and it opens back up on Sunday. Theres a gap associated with that. It usually fills, so I would figure out a strategy around that, where I could take advantage of that gap fill. Then the second thing I would figure out is I would figure out the weekly and the daily trend of the currency pair that Im going to trade. I would initiate a trade on Monday and try to hold it through the whole week, if you can. Then if you can, and youve got enough cushion to hold over the weekend, then hold it over the weekend and just turn it into a real good swing trade, and then you can actually pile on more contracts that way. So what you want to do is you want to pyramid into the winner, which is totally opposite of what most retail forex traders do. What they do is they get in a trade, they make a profit, and they get out. Its the wrong thing to do. What you want to do is once you get in a trade and it starts making you money, you want to add more to it. You want to pyramid into a winner, and cut the loser off really quick.

Interviewer: Hubert:

Interviewer:

Hubert:

Interviewer:

Do you have any proprietary systems that youve developed?

12

Hubert:

I do. Ive got several proprietary systems. I like the challenge of actual, physical discretionary training, so I do both. I would say I do about 60/40, 60% discretionary and 40% system training. But Im always testing stuff and trying to figure out ways to beat the market and compete and make myself better as a trader. Ive got several proprietary things that I use, but you dont need them. I mean, you can figure it out with some good old fashioned hard work and experience how to trade forex. Youve just got to put in your time. One thing I would caution people about is this is not a get rich quick scheme. If youre going to approach it that way, you can wave your money goodbye.

Interviewer: Hubert:

Just throw your money away. You might as well just throw it away, or do something that youll get some entertainment value in. Go to dinner or something like that. We talked about favorite tools and favorite resources, so Im not sure if you want to go back there. But thats one of my last questions. Do you have any favorite tools and what are your favorite resources? Okay. Favorite tools and resources, I like the Econoday Calendar and the Forex Factory calendar. Thats good for economic news. A good charting methodology, which would be a tool, would be called the Heikin-Ashi. Weve got an indicator on our site called the TTM Trend, which keeps you in the trade a little bit longer, but its based upon the Heikin-Ashi. Its a charting study. That helps us out a ton for entries and exits. Then for other tools, Ive got live feeds from the pit, and I can also hear what other traders are doing on different desks, and thats also really, really beneficial to me. I can hear what theyre doing in every single desk, in every single pit whats going on, so that helps me figure out what the order flow is.

Interviewer:

Hubert:

Interviewer: Hubert:

Its a very comprehensive profession that youre in? You never stop learning. Youre always trying to learn something. Dont throw too many indicators on the chart. Its just going to confuse you. Try to keep it as simple as possible, and then remember its going to take you anywhere from three to eight years to get really a good foundation in order to make a living in this business.

Interviewer:

Is there anything youd like to add that we maybe havent covered or that you think might be relevant to a novice and/or inexperienced forex trader?

13

Hubert:

I would just say, just do yourself a favor. Dont approach it as a get rich quick scheme. Approach it like a real business endeavor. Try to stay and hang onto your winners longer than you do your losers, and do not be seduced by people thatll throw out numbers to you going, I have this system that works 82% of the time or 92% of the time. Most of my trades work less than 50% of the time, and I know people reading this are probably going, Oh, my God. Thats terrible. Its not really, because Ive got one trade that Ill do that it only works about 35% of the time. People are going to be going, How in the love of God does he make money with that? Well, heres the key lock. Ive got a trade that works 35% of the time, but I risk $6, then I risk $600 to make $6,000. So that thing only really has to work out one time out of ten, instead of three and a half times out of ten and it still makes me money. So Im risking a small amount to make a much larger amount. Thats how the percentage is. Nobody can be 85% or 92% right in the market for very long. Most professional traders that I know and hang out with, most of us are 50/50 at best.

14

Jason Fielder The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange Interviewer: Jason: What is your background, and how did you get started trading? Well, as far as trading goes, I remember back when I was probably, I don't know, nine or ten, my dad worked for a company called Kroger's and he had some Kroger's stock. Not a lot, but we'd watch it in the Sunday paper, and basically week-to-week fluctuations. We watched that stock - I watched that stock go from about 7.5 up to 18, and it took about a year and a half for it to do that. I remember that being kind of a wild moment at a very young age that you could put money somewhere and not really do anything else, and given time it would grow and hopefully become worth more money. So, that concept kind of got me started down a path towards trading and towards investing from a very young age. As far as getting started, I started tracking stocks first. Stocks were kind of my entry, and then moved into options and in college I got into looking at the commodities and futures side of things and traded those for a while. In 2000, when the forex market started up, that's kind of where I found my home at that point. Interviewer: Jason: That was when, the late 90's? Yeah. Late 90's, right around 2000. I think I actually opened my first account. It was either 2000 or 2001 as far as the forex. It was the new thing. I knew about the future side of things, but trading the pairs, the fact that the forex was new, you could get into it back then - you still can - for a lot less, as far as the money up front. For testing purposes, it's great. You can do smaller accounts and test your systems. It's just a very large market, very appealing to me from that standpoint. So, that's pretty much when I went full-time, quit looking at stocks and options and looking at some of the other vehicles as much, and went straight into the forex. Interviewer: Jason: Why wasn't it open prior to that? To retail investors, it was closed prior to that time due to laws dating back to World War II when they lock stepped everything to the U.S. dollar. So, it took a while for currencies to start free flowing again, and it was a process over about a 40-year period, until retail traders were actually able to go in and start trading it again. Why did they open it up? What was the catalyst?

Interviewer:

15

Jason:

Well, I mean, we got off the Gold Standard, was the one issue, and the dollar could no longer be pecked to gold. At that point, they started free floating the currencies against other currencies. Okay. So, I think you even answered my question number two, which was what made you decide to trade forex. It was new and it was exciting? Yeah. The challenge of it too, the fact that it's a 24-hour market makes it exceedingly difficult in some ways to find the edge, and it's the biggest market in the world. So, just the challenge of it, really, to succeed in the biggest market globally was what drew me to it initially. If you can make money in the biggest market on the planet, then at that point you've done something. At least, that's how my thinking was back then. What's unique about how you trade forex and what makes you successful at it? Well, as far as how I trade it, I trade it using the four different market movements, kind of what makes me unique, or it's what I do is, I don't just trade trends. I don't just trade counter trends, and I don't just trade breakdowns. I have a strategy and a system for all three. All three are profitable, and if you can be profitable in the three ways that the markets move, at that point you can make more money. The smoother equity curve and you'll be in the market more. The way the markets move that wasn't necessarily my information. We've tested it and shown it to be true, but over 100 years ago, a French mathematician went through and studied markets and found that they did one of three things. They broke out, they moved within a sideways market, or counter-trend noise type movement, and then there were trends as well. It's different. 60% of the time the market moves sideways, 30%, roughly it's trending, and about 10% of the time it's breaking out. So, we're able to take advantage of all three market movements.

Interviewer:

Jason:

Interviewer:

Jason:

Interviewer: Jason:

Based on this mathematical formula? Well, he just did the math behind testing the markets to see how they actually move globally. Did they move in trends? Did they move countertrends? What were the different movements that markets made? He came to that conclusion. We've done our own testing and have come to the same conclusion. So, if you're able to make money in all three markets, you're never really sitting

16

on the sidelines and you're basically looking for one of those three things to be occurring. If they do, then you can get in there and make money. Interviewer: Jason: Interviewer: Right and you have a system to work all three of those? That's correct. Are there different currencies that are better to trade than others, and are there any currencies that you just wouldn't touch because they're so unstable? As far as the currencies, are some better than others? I believe there are currencies that are better than others. If for nothing else, the cost to do the transaction, the spread the more volume you have in a vehicle, it really doesn't matter whether it's forex or stocks or what not. The smaller the spread is usually due to the volume. The higher the volume the lower the spread, and the spread, of course, is part of your cost of the transaction. If you can get your costs down, then your overall trades should be better. You don't have to make quite as much to make up for that cost. So, I recommend trading the lower spread pairs and that pretty much excludes any of the unstable exotic pairs that are out there. Interviewer: Jason: Are there different times of the year that are better for trading forex? I've heard that theory that summer is low volume. People go on vacation and things slow down, from a market perspective and that kind of thing. I personally have not seen a yearly difference as far as the trading goes in the forex market. I haven't done any hard math to prove that out, but I personally have not seen that as far as the volume. The volume seems to be fairly consistent. There's always opportunity in the market, no matter what time of year it is or what time of day it is, as far as that goes. Interviewer: Jason: How much of forex trading is based upon having a specific mindset? Well, when you're trading in general, it really doesn't matter what you're trading. You need to have, preferably a rested and clear mind, and you need to have confidence in what you're doing, be able to pull the trigger on your trades when the setups are right and not second guess yourself. In the forex, it's just real important to understand when the markets are moving, if your setups are there, you need to go ahead and pull the trigger,

Jason:

17

and there are a couple things that go into that. But mindset is very important. Interviewer: Jason: What do you think the number one reason is why forex traders fail? Probably the biggest reason is bad money management. I've had those lessons early on as well, but putting on too much to their account. I've had emails where people say, "I have a $3,000 account and I just made $1,500 profit off of one trade using one of my systems," and I email them back and just say, "Whoa, you need to back way off. You're going to blow up your account." It's great when you're making money that way, but if you're risking 25% or 50% of your account or even 10% of your account for trade, at that point, eventually you're going to hit some losses because no system is 100% accurate. When you hit those losses, if you're risking that much leverage, you're going to empty your account out and you're going to do it in a very quick fashion. So, I caution people on that. That's probably the biggest thing that I've seen why traders fail in the market. Interviewer: Everyone's looking for that big hit, but they're not thinking that the potential exists for them to take a huge loss as well. That's correct. What was your biggest success trading forex? Probably the single biggest trade I've had was a breakout trade back in '09 and the euro moved 402 pips. We weren't stopped out and it was all within one session. That was probably the biggest trade. Our risk on that was roughly about 30 pips, so the risk to reward on that one trade was huge, and it was the single largest trade that I've probably ever encountered. As far as overall success, was when I was able to finish creating one of our systems that incorporates all three of the market movements. Once that was done and I could implement it in the market that's probably my biggest success. Interviewer: Jason: What was your greatest failure? I blew out a $3,000 account when I first started, pretty quick. It was less than a year, and that was just due to bad money management, trying to be a gunslinger and not following money management rules like I should.

Jason: Interviewer: Jason:

18

Interviewer:

That's pretty much the story from everyone Ive heard. People get overconfident and risk huge percentages, and it doesn't take very long until they're out of money. Yes. You can lose account real quick. Its the same for every trader, I would say. Everyone has a horror story like that. Yeah. It's almost a rite of passage. Right. You have to blow out an account or two of varying sizes before it really hits home that you need to back off and follow your rules and that kind of thing. What's the best lesson you learned as a trader, which is probably one of the things you just talked about? Besides money management, patience, and if you're trading correctly, if you're doing it right, it should be 99% boring and 1% excitement. You need to have repetitive motions you take, repetitive things that you look for in the market, and with repetition comes boredom. If you're using proper money management, you really shouldn't get that excitement like you're pulling a lever in Vegas when you actually put the trade on. For the most part, if you're bored, then you're probably risking the right amount and you're probably following your rules. If you're getting real excited about something, then you probably need to stop trading and analyze what you're doing.

Jason: Interviewer:

Jason: Interviewer: Jason:

Interviewer:

Jason:

Interviewer:

That's a good way to put it. It's kind of like learning anything, muscle memory. If you're bored with it, then you're probably doing it right. Yep. How do global events affect the forex market and trading results? Oh, man. That's a huge question. That's a 600-page volume book right there question. I'll try to narrow my answer. Give use the Cliff noted version.

Jason: Interviewer: Jason:

Interviewer:

19

Jason:

Yeah. The forex follows currencies, which of course they're backed by countries. I mean, it's essentially the stock of the country to a large degree. So, all the large news announcements for the U.S. would be the FOMC announcement or any interest rate announcement is going to fundamentally affect the market. Unemployment figures are going to affect the market. Your housing reports will affect the market. Consumer price indexes, anything to do with the direction of how the economy is doing, GDP of the country, all of those can take effect in the markets in varying degrees. So, you have you have to keep an eye on those. Typically what we do is just not trade during that time. There are analysts who try to predict what's going to happen and where the market is going and all that. But what I've found is the majority of the time, the market reacts in an opposite way than you would think it would because some of the larger firms out there, larger money, already knows what's going to happen. They've loaded the market in one direction expecting it to go in the other and it becomes too volatile and too quick. So, we usually just stay out of it and not get into all that mess. But global events can affect the market from a different side as well. From a carry trade perspective, you have these trades where billion dollar hedge funds are collecting interest daily on the rollover, the difference between interest rates between currencies, very effective strategy and I recommend it. But when there are risks, when risk comes into the market, such as we saw probably the biggest recent example was in '08, we saw this huge amount of risk come into the market, and you have an exit from the carry positions. When you do, there's just so much money going out of that currency pair that it affects that market in a very drastic way, that particular pair in a very strong way. So, that's another way, whenever risk comes into the global scene, whether it be unrest in the Middle East or whether it be economic unrest, liquidity issues, what have you, at that point, it can really effect those specific pairs in the forex market.

Interviewer:

If someone wants to make $300 a week consistently trading the forex market, what would that look like? Probably, if they have four hours a day to trade... It really depends on their approach and their account size. If you have an account of $3,000 and you're risking 1%, you need roughly ten positive trades. You're going to need to take ten to 20 trades per week at that point to hit that $300 level. I

Jason:

20

don't really ever suggest someone thinking in week terms. That's usually too small of a time frame. A month is probably the smallest I would go to. But with that said, if you have a $10,000 account, it becomes a little bit easier. You need fewer trades to put on. You have $10,000, you're risking a little bit more, but you're also making a little bit more. At that point, you only need three to six trades per week. So, if you're trading intraday, just scalping the market, you can hit those numbers real easy. If you're more of a day trader, swing trader, or a little bit more timeinvolved, you would have to be trading probably three or four pairs within a week to hit that number of trades. Interviewer: Jason: Interviewer: Jason: Let's talk about the proprietary systems that you've developed. Okay. Well, do you want names? Sure. Okay. Well, Triad is our flagship product, and it's the one that has the counter-trend and breakout system within it and they all work together so you can trade the markets. You can trade a specific style or a specific system within it, or you can trade all three together. You can scalp the market with it. It is, like I said, our flagship system. You can trade it from the month down to the 15-minute if you want. There have been other strategies that I've created, more one-off type strategies. All of the strategies that I have created have a setup, an entry, a stop loss, and then exit. You know all of that before you go into the trade. I believe it's very important to know what you're looking for ahead of time. Then we find it, go into the trade, and you know your stop. You know when you're going to exit the trade before going into it, or at least the parameters for which are going... Trend trades, you may not know when exactly you're going to exit because you're going to let it run. But you're going to know when the trend is over that you need to exit, and we have indicators, of course, that would help identify when that exit occurs. Interviewer: Jason: What are some of your favorite tools to use and favorite resources? As far as favorite tools, I like using my own tools that I've developed. Probably my favorite resource would be my programmer, as far as being able to test. Testing and doing research is a big part of what we do. We've done literally years of research and testing in the forex market to find

21

these edges, these small edges in the market that you can exploit for profit. So, favorite tools would be Triad, the tools that are within Triad. Interviewer: Is there anything else that you'd like to add that might be relevant to a novice and/or an experienced forex trader that we haven't covered? Keeping in mind that it's called "The Fastest Way to Consistently Make $300 a Week Trading the Foreign Exchange," which you've already discussed would be more like monthly. What I'd recommend is have a defined strategy. If you don't have a clear setup, entry, stop loss, and exit, then you don't have a system. It doesn't matter if you're buying a system or building a system yourself. Get help. That would be the next one. Find the experts that you can understand and relate to, and work with them on a one-on-one basis if they offer it or if you can, or in a group setting, but get help. Start small, would be another recommendation. It's always easy to add to your account and to grow an account. It's a little bit harder to come back from having 90% of your account blown out. So, make sure you're up and running and you feel confident, and then start adding the money, and you'll get to that $300 a week fairly quick. You have to know what you're doing, and that takes a little bit to get there. Interviewer: What would you say is the typical learning curve for a novice trader in the forex market? On their own or with help? Probably with help. On their own, I would say probably depending on how much time they devote, two to five years, and at least one $5,000 account blown out. As far as with help, at that point it can be literally weeks if they do exactly what they're told... Really? ...and what they're told is accurate information, and consistency, probably weeks to months. So literally, you could stumble around the market for two to five years and not really know what you're doing correctly? Or you could spend weeks with a professional and really learn to do what needs to be done to be profitable? Yes.

Jason:

Jason: Interviewer: Jason:

Interviewer: Jason:

Interviewer:

Jason:

22

Forex Joe Atkins The Fastest Way To Consistently Make $300 Per Week Trading The Foreign Exchange Interviewer: Joe: What's your background, and how did you get started trading in general? I got started trading in the forex markets in the latter part of 2001. In fact, I just celebrated an anniversary. I've been doing this 11 years and as I embark on year number 12, the thing that keeps me excited about the forex is that it's constantly changing. I come from a sports betting background. For over 30 years, I was a sports analyst. I released selections on football, baseball, and basketball games and taught people how to become gamblers, and a sense of learning how to become professional. I found that there was a direct correlation to numbers that I use in the sports betting realm, that seem to be reoccurring in forex, so I really got started that way. I also like the fact that the forex was quick. It's the most liquid market on earth today. It's trading $4 trillion a day, so it can't be manipulated, and it runs 24/7 and I've got weekends off. In my business, I used to put out a newsletter. I had over 2,500 subscribers. We would start from Friday afternoon doing radio shows that I hosted, all the way up to giving out selections for the weekend, to staying up all night Sunday, writing and getting a newsletter out by Monday afternoon 35 weeks of the year. So the fact of me getting weekends off was very exciting. Interviewer: I bet. That's a nice change. Why did you pick the forex markets specifically? I never did really care for stocks. I did dabble in stocks, but what I found in stocks is that I look for long-term, and in long-term, when you're playing stocks, you're looking for something that you're setting up for retirement. We were taught by the time that we got out of school that you look for putting up for retirement. So, having stocks in Walmart or Apple, or IBM or various blue chip stocks, it was kind of boring because there wasn't much to do. So, I was looking for something that had a little bit more action. But what really excited me about the forex markets is that it was trading money for money. So I wanted to learn about different currencies, and the fact that I had been challenging and you had a currency exchange and there were different rates for the currency exchange really intrigued me, and the fact of how you could make money trading forex. Interviewer: Where did you travel to and from?

Joe:

23

Joe:

I've been all over the world. I've been very blessed. I've been to 49 of the 50 states. The only one I haven't been to was Alaska, which I've canceled two or three cruises that I was going to go to. I've been to Canada many times, Mexico, I've been to England, I've been to Asia, Africa, Australia. I've been very blessed.

Interviewer:

What is unique about how you trade forex, and what makes you successful at it? The numbers don't lie. The bottom line is, you can keep it simple. But what I've found is that people seem to fear what they don't understand, and we've only been able to participate in the forex markets and the retail customers for a very short time. As I eluded to earlier, I got started in the latter part of 2001. I'm kind of a veteran now that I'm starting in year '12. The retail clientele has only been having access to the forex markets since 1998. So, I really got in at an opportune time. Back in the early days, we used to call it the Wild, Wild West because there were so many people trying to come up with brokerage services, many that went out of business. What makes me so unique is that I have developed through the years, a system using probability factors and mathematical and statistical analysis concepts that I used in trying to find the very best line in sports betting. What really showed up was a three and a half-year exhaustive study of the forex markets, of how numbers are reoccurring many times. So you really call that support and resistance, or what really is called price action. Any time you hear a professional start talking about price action, then you know that he knows what he's talking about. There are too many people out there that have emulated software packages, that try to sell software packages that try to sell the sense of seduction to people. In other words, they'll say, "For a low fee, you can get in and make millions," and that's not what it's about here. It's about learning a new vocation for life, to where you take back total control and responsibility for your actions. So I developed what was called a psychology of trading, utilizing my set principles. I like to tell people that each one of them, especially since 2007, the real estate bust, is that they've now become CEO of their bank roll series. So in other words, you take care of your bank roll, but you have to take a look at it in a capacity of what is your short-term, midterm, and long-term goals. What's really different about today compared to what, as I eluded to earlier, is that it used to many people would put money into stocks and just leave it, with the fallacy that it was always going to go up. Just like we

Joe:

24

were always taught that real estate is always going to go up. Well, now we've been proven wrong. So, it's really unique in the different areas that I've been able to create proprietary information that helps people keep it simple, and help fasttrack them to success. Interviewer: Now, we answered a couple different questions there that I was going to ask you. So before I go on to my next one, I wanted to go back to the, how much of forex trading is based upon mindset question, because you had mentioned you deal in the psychology of trading. I like to say that forex trading education is one, and what's between your ears is 1A. I do many studies. I do many studies and questionnaires throughout the years, and it's really unique that 76% of the people out there do not consider mindset to be of importance. Well, we have better than an 80% failure rate in this business, and the reason why is that most people don't grasp or understand the power of the mindset, because you are becoming in charge of your own profit center. So, people are now graduating from possibly having a job being told what to do their entire lives, to the point of where they have to make decisions. Sometimes these decisions are based very quickly depending on what trading style they utilize, and they have to be ready. Many people aren't willing to take the time to gain vast experience. So, it's kind of like doing anything that you begin from the start. You wouldn't want a 50% doctor doing the surgery on your brain. You'd want one fully qualified. Interviewer: Joe: Absolutely. Yeah, what we have found is that most people won't spend a little bit of time learning. They want to find something quick. We live in a different world. I call it the microwave world or the millennium kids that were brought up to where you have all your tools, you have all the technology, you have all their phones. They're more interested in instant gratification than they are building a vocation for life. Basically what you're saying is people aren't willing to put in the time to learn what it is that they should and should not do. They just want to jump in and do it. They want to sign up, and they think within a month they're going to be able to pay all their bills off.

Joe:

Interviewer:

Joe:

25

Interviewer:

All right, so let me go back now. Trading in the forex market, are there different currencies that you prefer to trade, and then are there some that you just simply won't touch because they're too unstable? Well, I more or less started riding on Forbes in 2002, and I basically started with the euro/U.S. dollar. So I guess you would say that I'm kind of a euro/U.S. dollar expert, because that's what I write about consistently. I trade the four majors, which is the euro dollar, the pound dollar, the U.S. Swissy and the U.S. [inaudible 00:08:18]. From that, there are three other offsets, which I call the top seven pairs, the Aussie dollar, the U.S. Canadian, and the Kiwi dollar, which is New Zealand. I cover 22 pairs overall. The only pair that has been a problem is because the euro Swissy, the Swiss bank put on a peg for the euro Swissy not to go below 120, and once it got to 120 it just kind of sat there and didn't move. Now, it's starting to come back up. So other than that, no. I like to teach people to pick one currency pair to stock. So in other words, whenever you become in the learning process, you'll spend your first year, and if you can learn everything about that one currency pair then you can expand your horizon and it does not overwhelm you. If you have experience, then you could pick more than one pair. But also follow what I do with the euro/U.S. dollar, because I've got that covered for you. So to answer your question, no. There isn't any pair that you should be trading. But as you graduate, you graduate from one pair to maybe the parallel inverse pairs, or the exotic pairs. So, in other words, if you were trading the euro/U.S. dollar, you might look at the euro/Canadian or the euro/Aussie as offsets of that to see if the currency pair is strong or weak and which side you should be playing.

Joe:

Interviewer:

Are there different times of the year that are better for trading the forex market? Well, there are different times of the year to where there is more volatility and less volatility. You'll see less volatility in the summer, because usually after the 4th of July, the major European traders and most of the people in Europe take off. We call that the summertime blues. So what happens is, with less volume, you get maybe a little bit more volatility, but you might have a smaller pips amount in a 24-hour period. For example, say the euro was averaging 125 pips for a 24-hour period. Maybe in the summertime blues, it might go down to 80 to 100 pips. So instead of trying, if you're a swing trader and you're looking for more pips, so in other words if you're looking for 25, 100, 150 pip moves that might happen, you might have to move that expectation down. What transpires is you learn how to trade oscillating channels. Oscillating channels is trading

Joe:

26

at the top and the bottom of the ranges, with an expectation that you're going to be wrong once. But as it stays within these channels, when you're learning to trade at the top and the bottom, you might get three to one, five to one, seven to one return or more before it breaks out and creates a new channel. So there's a different trading style that needs to be utilized at different times of the year. Now we're back and we're into September. The middle part of September, this is historically the worst time of year for the Dow. But as we embark here in the middle of September going into October, you're starting to see more trending pairs that have moved here in the last five sessions, 300 to 500 pips. Interviewer: Referring to a previous answer, can you define the different styles of trading? Yes. There are four different trading styles. I'll go over all four. There's scalping, where you're trying to peel off five to eight pips. You're in the door, out the door quickly. That has my utmost respect, because you have to keep your focus. There are day traders that might want to try to pick off 20 to 25 pips a day, but they always close their trades before they get out of the markets. There are swing traders that will try to extend trades longer than 24 hours, might try to stay in them a few days or a few weeks. If you're lucky, you turn them into trades that last for a month. Then there are position traders. Position traders might be somebody who's going after 1,000 pip moves or more that might stay into trades for months or even years. Interviewer: Joe: Interviewer: Joe: What is the number one reason, in your opinion, that forex traders fail? Inexperience, due to fear, self-doubt, and emotion. So a lot of it comes down to psychology? 100%. This is a business to where you can get a demo account and practice, and we call it a practice regiment account. A lot of my analogies go back to sports, because of my sports background and because I was a sports analyst. I did radio for so many years. I was an NFL analyst. I covered NFL draft for 20 years, every player taken. So I had to really dig deep after the first round of what everybody knows, the major players, and look for the so-called gems that would be drafted in the sixth and seventh round.

Joe:

27

I'm always looking for the so-called gems in the forex markets, when you're having trading and it's been exhausted and where other people might be giving up, I might be just saying, "There's an opportunity." So let's use an analogy to a NASCAR driver, an NFL player, or Major League baseball. A NASCAR driver, if you've ever watched a NASCAR race, in three hours it's put through a tremendous amount of vibration to where he has to be in the shape and he has to have maintained focus. You can't lose focus going 200 miles an hour. A football player is somebody that practices all week, just so they could perform, and in some instances, one that will run one play that might be the difference in a game that they've been practicing all week. My favorite is Major League baseball players, because they have a unique mental toughness. They fail 75% of the time. It is a given, and yet, they have to come back up and learn how to try to bat near 300. Those who can bat near 300 usually make millions of dollars. So, when you start talking about mindset, it's all part of the sport. What most people don't grasp or fully understand is that mindset is part of forex trading. You are learning a vocation for life. You're being able to participate in the most liquid market on earth. I like to say we are all minnows in a shark tank. We're never going to be able to compete with the central banks, the big hedge funds, and we shouldn't. We should just try to compete within ourselves, with the bank roll that we have, with low risk, money management, and try to build something and leave a legacy for our kids, and have some type of retirement that we can fall back on. Interviewer: Joe: What was your biggest success trading forex? Being able to have people write in to me and wanted me to start teaching. I started teaching in 2006. Then seeing other people succeed and walk away to where they might not have had that opportunity in the past. I have taught many people who've been able to now go ahead. There have been many stories, people who've had adversity, people who've had divorces, people who've had sickness, people who had just more or less given up, and they had two things in common. They were passionate and they were persistent, and if you're passionate and persistent in this business, with what we've put together - we try to keep it simple - eventually you will learn. There's a different learning curve for each person. Each person is different, and I like to say that each person is a separate but distinct entity, just like a currency pair. But in being separate and a distinct entity, then we all go about the race at our own rate. So the biggest success I ever had was when my first group, I started having successful traders move on, and that continues to be this day. That's why I do it.

28

Interviewer: Joe:

So this is really very personal for you? Very, I feel like it's my calling. It's what I was called to do. I don't need to do this. I mean, I could run away tomorrow and leave and go sit at the lake and just sit on the porch and sing "Don't Worry, Be Happy" with a ukulele and a straw hat. But I feel like that I need to get back to society and help other people, especially those who struggle and don't understand. I've been blessed in the fact that I got in at the right time, and I really understand the markets. I understand how the markets operate and I understand how I can help others in dire need. What would you consider your greatest failure, if any? My greatest failure is the people that got away. Many people are on the cusp of greatness, and they give up. There are many analogies that I won't use here that you could use, especially in mindset. But the bottom line is they're real close to being successful, and something stops them from their right of abundance. To me, abundance is your birth right. Each one of us should be abundant. You continue to plant crops, but as you plant crops you're going to have a harvest. There's going to be good harvest and bad harvest. Sometimes people don't understand, have never been taught about money, and if you're not taught about money - how to make sure you put money up and how it's just a tool to use to barter for goods and services, instead of people having an attachment to money like they must have money or they're going to lose everything that they have - then people have a different conception. But many people have walked away that were really on the cusp of greatness, and they just gave up and they tried to go to something else.

Interviewer: Joe:

Interviewer: Joe:

What was the best lesson you learned as a forex trader? To be humble early, when I first started, the most traded news event is non-farm payroll. I had been teaching a free class all the way back since 2006 that shares the ins and outs of why professionals do not trade the non-farm payroll. But if you are scalping, you should be. In my quest to help all traders, we put this together, put software packages together to help people accomplish that task. But when I first got started, I think my first non-farm payroll was I picked up about 250 pips. So I thought I was smarter than the average bear, like Yogi bear out there getting picnic baskets with Boo Boo. Well, I found out very quickly that I did not know anything, because I got literally drilled the next two non-farm payrolls because I didn't know what I was doing,

29

and I thought that I did. So, it brought me back to the fact that you must remain humble. The part two of that would be - and this is for the old-timers out there there was an offset from FXCM. This offset from FXCM was a company called Repco, and Repco was brokerage services. Well, we had a group that we took some money and built into about $160,000 to $180,000, and Repco went out of business and we lost it all and never got a dime back. Interviewer: Joe: How did that feel? That would put most people out of business. In fact, it did put two of my partners at the time out, and they never came back. So, you always talk about that there's moments in your life and there's a fine line between success and failure. I could've quit right then and probably had an excuse, and could have sat around and drank beers for the rest of my life and told that story, and have everybody feel sympathy, empathy, and all that for me. But it wouldn't have gotten me anywhere. What was it in you that made you continue? I've always had faith. My faith and belief, and also the fact that I'm not attached to money. I mean, I've been a sports better. I've had winning seasons. I've had losing years. I know what it takes. That background helped me, so I just hitched up the pants, went back to work the next day, and started over. How do global events affect the forex market and trading results? Of lately it's called rumor versus fact, because there are so many rumors that are happening with what took place in Greece recently, in Spain, in Portugal, what took place with quantitative easing here in the United States. Mario Draghi, the President of the ECB, discussing and sharing the ECB is going to do anything they can to make sure that it stays together. So you continually see little spikes of rumor versus fact, and people trying to figure it out. We call this aberrations and an aberration is something that just happens that's unexplained. But the key is, is it going to continue to turn into a trend, or is it something short-term, and then you're going to see a reversal? So, we really cover that with our clients and let them know and let them learn about those areas. Interviewer: If someone wants to make $300 a week consistently trading the forex market, what would that look like?

Interviewer: Joe:

Interviewer: Joe:

30

Joe:

Well, we are completely different than anyone else, I am. I'm really outside-the-box. I have outside training methods. I'm a contrarian. When some people might be going one way, I'm trying to go the other way. To answer your question, I teach from day one that you need to try to generate 200 pips a month. Now, 200 pips a month at $10 is $2,000. So if you're looking at $300 a week, that's $1,200. Okay? So it's really only $300 a week is 30 pips. A pip is $10 for a regular lot. So, if it's $300 a week that they're looking for - and by the way, research has found $300 to $500 would change the lifestyle of close to 40% of the people in the United States, if they were just making an additional $300 to $500 a month. Not a week, but a month, it would completely change their lifestyle. One of the areas that really amazes me is that whenever somebody signs up, they're always looking a year down the road of what it's going to cost, "Okay, I'm signing up for this, but what's it going to cost down the road?" That is a completely, 100% key to know that they have an attachment to money because they're not thinking about the benefits that they can get from learning or getting a vocation, or being able to generate cash. The only thing they're concerned about is, "Wow. I'm putting this money out now. How much money will I have to put out later?" So, most people don't know that but it's an automatic. It's like having a tail when you're playing poker. If I play poker with this person and take all their money, and that person probably shouldn't play poker. But the bottom line is we teach people to get 200 pips a month and start from day one. The reason for the exercise is that anyone can do it on a consistent basis, all right? If you do that in any market condition, including when the real estate bubble happened, when the crash of 2008 and 2009 happened, then you feel a sense of confidence to where you can reach that goal. The goal is part of like my Goal Setting 101 that we teach. You set one easy goal a day. I can't go in, if you've never set goals in your life, and try to teach you to set goals through the next three to five years. That's idiotic. So what we try to do is try to get you to set a goal one day at a time that's achievable. So what we do in this exercise is try to teach you to generate 200 pips a month consistently, and it becomes a habit because you are now turning your subconscious mind into a belief system that you can accomplish this task. Once you believe that, then the 200 pips is what most people look for. So, in other words, people will change their style of trading to get their 200 pips, they'll park their 200 pips, and then for the rest of the month, they can make decisions based on they've already reached their monthly goal.

31

So, to be able to generate $300 a week consistently would fall right within the parameters of us teaching how to get you 200 pips a month each and every month in the forex markets. Interviewer: I hear that you have some proprietary systems. You've eluded to some of them. Do you want to talk about some of them here, that you've developed? I've created software packages with my various different creations, Bias and Key Numbers. Bias and Key Numbers was when I did an exhaustive study for three and a half years on the forex markets, and I found that reoccurring numbers showed up. So, we put in four different software packages. I used eight or nine technicals off a Meta Trader 4 platform that looked good, mixed in all the formulas, and we came out with Bias and Key Numbers. I created mathematical and statistical analysis concepts, which then started having clusters. These clusters turn into thermogrids, and when you get near these thermogrids, we have simple rules of engagement of what you need to be doing to either buy or sell in the markets. I developed a psychology of trading utilizing mindset principles. I trademarked Big Light Traders versus Big Light Strategy. What that means is, we're looking at big lights and every time I do a class, I'll have these little light bulbs I kind of shine and put on for people to kind of embed in their mind. So, the Big Lights would be the daily chart, weekly and monthly chart, to where as a swing trader, you're looking to generate more pips, when I can get two of those three or all three of them to line up together. So, I developed that strategy. We also have the CEO of bank roll, and there's the Zero-Risk Gravy Train method, and that's part of the software package, where after you take profit one, it obviously moves your stop to break-even plus one. It's a zero-risk trade, which takes human emotions and human decisions out of the equation, because most people cannot handle that. Most people, if a trade is running and it's making pips, they'll get out of the trade, and if the trade is losing, it's kind of like they're in Las Vegas. They keep betting it'll come back to even so they can get back to even. So, I've created software, Bias and Key Numbers, Zero-Risk Gravy Train Strategy, thermogrids, currency trend tracker, mathematical statistical analysis concepts, Big Light Traders versus Big Light Strategy. Everything is put together in a concise way to help people learn how to maneuver the forex markets, whether they're brand new. They don't know what the acronym forex stands for, which by the way is foreign exchange,

Joe:

32

all the way up to people that might be trading three or four years, but they keep taking on step forward and two steps back. Interviewer: Joe: What about tools? Favorite tools and favorite resources you use? My favorite tools are just the numbers. The numbers don't lie. I can take a look at numbers and almost predict within ranges of when breakouts are happening. So, we have what I call Forex You Alert. So it's a daily trade plan that I put out, and in some instances I'll mention to let a pair go to a certain area and reverse, and get in here, which nobody's doing. I put those out each and every evening before the Asian market. They're good until the next day. Nobody's doing that at all, and we've had uncanny success in the fact that these trades hit. In fact, we had trades that hit last night again. It moved over 100 pips and we were really blessed. So, it goes to a certain point. It might reverse. We also have what we call safe trades for safe entries, and those are just the tools that I use on a consistent basis to keep it simple. Resources, as far as resources, I just continually watch the markets, continually pay attention to what's happening around the world, and try to decipher... I really liked when Greenspan was the head of the Federal Reserve, because this guy could speak with a forked tongue and speak one way, and he'd yet have a completely different meaning. So it was always a challenge trying to figure out what he was trying to describe. With Bernanke, who's now taken over as head of the Fed, Bernanke, you can almost see the anguish and the pain in his face when he's talking because he really knows what is needed to get this jump started. But he can't get Congress to get together and work together as a team to try to solve problems. Interviewer: Is there anything else that you'd like to add that might be relevant to a novice and/or an experienced forex trader? If you're a novice, we definitely want you to take a look at the forex markets, because you have not been polluted. If you're a novice, then we can start from day one teaching you a system that is more or less like putting the foundation in one brick at a time and building the tower. A novice has not been seduced by all the other things out there. If you're an experienced forex trader, ask yourself every time you execute a trade, do you have issues with an attachment to money? The best way to figure that out is that if you're in a practice regiment demo account, how much are you trading in that demo account? If you're only

Joe:

33

trading $10,000 or $50,000 in a demo account, you're completely crazy. Most people that you talk to always want to become millionaires. Well, if you want to become a millionaire, why not trade a $1 million practice regiment account? It's free, doesn't cost you anything. So we always teach everybody to start off with at least a $1 million account, and that way if they've never experienced it, now they have X. X is the amount of days that it's going to take for you to become experienced stocking the currency pair that we share with you, learning the system, and being able to trade on your own. During that process, you are trading in a $1 million account, and you now have that much experience. So let's say, for example, that it took you nine months to do this. Well, if you're not trading in a $1 million account, you've wasted nine months in experience, where you'd have to start nine months down the road anyway. Interviewer: A $1 million account I imagine would be kind of overwhelming for people. Is there resistance to it? Everything is overwhelming about this business, except the fact that people want to sit down, press a button, and pay their bills for the month. That's what everybody's looking for, quick satisfaction.

Joe:

34

Conclusion
Thank you for your interest in Forex Trading and the opportunity to present you with three unique points of view on approaching the currency market. If you would like more information, on Forex or any of the other financial markets, kindly visit our website at www.wealthcreationinvesting.com. If you have not yet downloaded your free bonuses from each of our three traders, you may follow the links below.
Bonus 1:

Get a 14-day day FREE trial to ForexU Alerts, your path to profitability, that includes Forex Joe's "Daily Report" with Bias and Key Levels, Channel Information, Support/Resistance Levels for 22 currency pairs, plus Trade Recommendations and Expert Commentary. (A $297 value.) https://www.secureinfossl.com/affProgram/ForexAlerts-Trial/62588 Bonus 2:

Get Gap Trading The Forex by Jason Fielder for FREE and discover How to Profit from a Forgotten Trading Strategy that is Right 89.1% of the Time. Learn the trade no one is talking about in the Forex market that can make you money month after month. (A $49 value.) http://www.foreximpact.com/gap-report-download/ Bonus 3:

35 Get a Free 16-hour Forex Online Trading Seminar complete with Day Trading Strategies and comprehensive Fibonacci Analysis training. Discover how a live $5K account was turned into nearly $50K in 5 months and get Live Market Analysis, Technical Studies, Trader Psychology, Drummond Geometry, and favorite indicators to use with Forex. (A $795 value)
http://www.tradethemarkets.com/public/Forex-Online-Trading-Seminar.cfm