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Posted on August 11th, 2010
by Rapid Forex
Today marks a special occasion for me. It was 7 years ago today that I officially began teaching forex trading online. There’s some interesting lessons that I’ve learned since then…
My Start With Online Forex Trading
I got involved with online forex trading in 1997 when I got a letter in the mail explaining that for the first time ever it would be possible for average people to trade forex. Before 1997, only banks could do forex transactions. I was previously interested in stocks, so I started applying those ideas to forex.
I played around for a few years. I went to college & majored in math. I learned a lot about forex, but very little was published at the time.
4xtrend.com
On August 11th, 2003 I registered 4xtrend.com. I had already written a manual on how to trade forex a few months earlier simply called “Forex Education Manual.” The eBook was an instant hit. I sold about 100 copies the first month, and ended up selling over 10,000 copies of it before retiring it for more updated forex trading methods.
Back in 2003 there were very few websites teaching Forex. I was one of the original 3-5 sites that had any type of course teaching forex trading. Jared Martinez from MTI was one of the original forex trainers, but this cost around $2,000. Peter Bain from Forexmentor.com had been around for about a year when I got started. I was basically the third forex trainer online. I looked for others, there simply weren’t!
An Ugly Website
I didn’t know anything about web design, so I decided to make the website myself. Although this site got a daily scathing criticism for poor design, it sold HUNDREDS of copies of my forex trading manuals each month. Here’s a screenshot of what the website looked like:
Rapid Forex is Born
4xtrend.com looked like this for 2 years. On October 13th, 2005 I changed from 4xtrend.com to rapidforex.com. Since then, Rapid Forex has taught HUNDREDS Of THOUSANDS of people how to trade forex online. The Rapid Forex Supreme Trader Package sold THOUSANDS of trading packages for $597 each.
Online Forex Trading Legacy
Today there are THOUSANDS of online forex trading websites. You can easily get lost with all of them. I got into this industry at a great time. I’m proud of being one of the pioneers of online currency trading. Although it’s only been 7 years, it’s practically the entire history of forex trading online. It’s kind of like dog years, I’m a grandfather for online forex trading.
New Enthusiasm
I’m enjoying forex trading now more than ever. There was a time when I was burnt out from it due to bad business partnerships & naive attempts at managing a multi million dollar business. I’ve learned lot about trading in the past 7 years & I’ve got more wisdom to share now than ever before.
Many readers of this blog can remember 4xtrend.com. If you’re one of them, I thank you for hanging around since those days. If you’re new to this website, I look forward to sharing an even better next 7 years with you!
My new mission is for you to be able to Live the Fantasy Life of a Forex Trader, like I am now. Forex trading has changed my life forever. It brings me great joy to share it with you on this website 
Posted in
News
Posted on August 10th, 2010
by Rapid Forex
I’ve been talking to some friends lately & I’ve had an interesting realization… I’ve been taking some things for granted lately, so it’s been helpful to learn that…
“I No Longer Have to Work For Money”
You heard that correctly, I don’t work for money. In fact, for the first time in my life I’m truly wealthy. I’m not just doing ok, I’m extremely wealthy! Oddly enough it wasn’t that hard to achieve.
Before you get bent out of shape that I’m bragging, I need to clarify what I mean by wealth. There’s a difference between how much wealth you have, and how much money you have.
A Real Definition of Wealth
True wealth only has a fraction to do with how much money you have. While it’s true that more money will empower you in a greater way than less, just having more money doesn’t automatically make you wealthy. Since many people have a vague notion that amassing more money will create wealth, I’m going to define wealth for real.
“Wealth is having enough money to do whatever you want, whenever you want.”
This definition is relative. It’s different for everyone. It has to be because we all have different desires. We’re all different people.
How Can I Claim I’m Wealthy?
This is an easy question to answer.
I’m living my ultimate fantasy every day. I’m currently on Maui, which is undoubtedly one of the most beautiful places in the world. I love to ride my moped along the coastline for hours. I go snorkeling & swimming in the ocean all the time. I hike through the rainforest in a number of hidden valleys & have amazing experiences doing so.
I live across the street from the beach. I’m not restricted by finances. If I want to go to Italy, Thailand, Australia, China, or South Africa tomorrow I can easily do so.
I love music. I listen to 6-10 albums a day. I have time to play my ukulele for hours. I’ve been writing new songs, which I haven’t done in about a decade.
I’ve also started writing poetry again. This was a major passion of mine as a teenager. I’ve been published in every literary magazine in every school I ever attended, usually with only a single submission.
Across the Street from where I live on Maui!
I’ve got time for people who are important to me. My relationships with people are getting more meaningful every day. I have time to do nice things for others.
I don’t answer to anybody. I don’t have to apologize to anybody.
Every single day that I walk and breathe on this planet is the BEST day that I’ve ever lived! I walk around with a smile constantly. I can’t tell you how amazing my life is. If I did, you wouldn’t believe me. It’s awesome & I love every second of it!
How Do I have Enough Money?
Simple answer again.
I’m a forex trader AND I manage my money properly. It doesn’t matter how much money you make, if you don’t manage it properly, you’ll never be wealthy. Fortunately, I’ve already shared this secret in a prior post called “What to Do With Money So You Get Rich.”
My “work” involves me looking at an open window on my computer screen a few times a day. Then I just wait to collect money. It’s not work by any stretch of the imagination. I PLAY for a living doing the things I enjoy in life.
The New Rich
I’m not unique in any way. There’s a new class of people who are living this lifestyle. Timothy Ferris, author of “The 4-Hour Workweek” calls us the “New Rich.” If you haven’t read this book, it’s already become modern day classic on creating your own ideal lifestyle. I HIGHLY recommend you read it.
My friend John Reese is one of the most successful entrepreneurs ever online. I got to know John when he became famous online for making $1 million in 24 hours. He was the first person to do so. He’s also living this lifestyle.
But you don’t have to be John Reese to have it made. We’re starting a revolution. I’ll be sharing more about this in future blog posts.
Posted in
Forex Lifestyle
Posted on August 5th, 2010
by Rapid Forex
Here’s an archive of a closed trade from the LIVE 90 day forex trading bootcamp. Below you’ll see the unedited analysis that was given in real time for a 20 pip gain on a forex trading opportunity on the EUR/USD. This trade was originally posted on July 29th, 2010 in the private LIVE forex trading bootcamp member’s area. More current LIVE forex trading opportunities are posted 6 hours daily in the private member’s area.
Trade Archive EUR/USD July 29th, 2010
Here are the trading opportunities to watch for today during the London/New York session.
EUR/USD
The only pair that I’m watching this morning is the EUR/USD. By looking at the recent market snapshot, we can see the EUR/USD moving in a clear uptrend on all timeframes: 
On the 15-min chart we’ve got a recent extension up, so we just need to wait for a 38.2% retracement, which will happen around 1.3055 (see image below): 
Trade Entered
I had actually had two waves in my previous picture. So here’s the info for the trade: 
Here’s the fibonacci calculator worksheet: 
Here are the numbers: I: 1.3021 II: 1.3091 III: 1.3065 entry price: 1.3065 stop: 1.3021 (risk = 44 pips) limit: 1.3134 (reward = 69 pips) reward/risk: 156.82% *note I entered a market order and got a price 1 pip lower than what the fibonacci calculator recommended for the trade. It’s only a pip, so I’ll stay in the trade. Here’s the etoro screen showing the settings for this trade: 
Channel Ratchet
If you look at the chart price are in a fibonacci channel. A fibonacci channel is the channel formed between the 38.2% retracement and the peak of the wave. Since prices oscillate within the channel, I’ve set a limit order to sell at 1.3085. This isn’t the peak of the channel, but is close. I chose this price because there were a few candles with highs at this point, I basically ignored the extremes and went with the next group of highs. After this limit is hit, I’ll try to buy back into the trade in the lower part of the channel. See the image below: 
Ratchet Log
The first ratchet was successful. I grabbed 20 pips in 23 minutes. I immediately set an order to buy at 1.3070 to buy back near the bottom of the channel. Since we’re in a channel, I can be more extreme with the ratchet. I still chose a slightly higher price to buy back than my previous entry price in case prices don’t come to the very bottom of the channel before going back up. I cancelled the order to buy back at 1.3070. Since the price reached a newer high then retraced back down into the channel, I need to watch the 1-min chart more closely. If the 1min downtrend is broken with a candy cane & I can get a price lower than 1.3070, I’ll re-enter this trade. But I have to be careful because of the potential double top just formed. Here’s that I’m looking at on the 1min chart: 
A few minutes later the trendline was broken, but not at the price where I was willing to re-enter the trade. Here’s the trendline break with a 1min candy cane (have to use imagination, a candy cane can be 2-3 candles on this small timeframe): 
That’s the end of this trading session. I’ll be happy with my 20 pip profit today!
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trades
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