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Posted on September 20th, 2010
by Rapid Forex
Last week the 90 Day Forex Trading Bootcamp came to an end. It was an amazing experience with approximately 300 forex traders participating in the LIVE bootcamp, and several thousand people received the archive version…
New LIVE Forex Training
Since many people missed the bootcamp, and many bootcamp students want to continue their training…I’ve decided to continue training people on becoming forex traders during LIVE market conditions with LIVE Forex Training.
I was planning to call the “LIVE Forex Training” Forex Freedom LIVE, but I decided that LIVE Forex Training more accurately described what I’ll be doing on rapidforex from now until forever (well not FOREVER actually, but way into the forseeable future)…
What’s Involved in the LIVE Forex Training?
The simple goal with LIVE Forex Training is for you to learn how to trade forex in LIVE forex market conditions.
That’s it!
To do this, you need to:
- Know what to watch for
- Be there when it happens
- Understand when to get out
- Have a way to scan for opportunities
- See the charts like a professional trader does
What’s the Format for LIVE Forex Training?
I’ll be explaining the EXACT format for the LIVE Forex Training this week…but to give you an idea about what it is, the basics are:
- Login to the LIVE training and view the real time status of ALL trading opportunities on ALL currency pairs
- Daily video explanation of market conditions, and analysis of charts for trading opportunities
- Actual trade journal system for planning all trades
- Printable PDF trade plan for all opportunities to put in your trading journal
- Get a VIDEO response from ME on LIVE charts to YOUR trading QUESTIONS (I’ll explain this later)!!!
- KNOW exactly what I’m looking for, as well as EVERY trade I take, WHILE I’m doing it…
- Spend NO MORE than 20 minutes TOTAL daily looking at charts, true part time trading!
It’s ALIVE!!!
The bootcamp was a great experience that provided some valuable ingoing market analysis of forex trading opportunities. The new LIVE Forex Training will allow anyone to more closely follow what an actual forex trader looks for & does. I’m also doing the MAJORITY of the analysis for you, so it’ll also SAVE you TIME from having to look at all currency pairs multiple times a day…
Videos Coming Soon
Since there will be a DAILY video analysis of the forex market in the LIVE Forex Training, I’ll be doing ALOT more videos here on the Rapid Forex Blog. I’ve also decided to make this blog a lot more personal, so you’ll be seeing me LIVE talking to you directly through video as well. I’m shifting the blog to emphasize all of the WONDERFUL things that happen to me every day because of the Forex Freedom Lifestyle…I’m hoping this will inspire you…
Posted in
News
Posted on August 4th, 2010
by Rapid Forex
This post shows you two ways to trade a channel with examples from the USD/JPY & AUD/USD. A trade wasn’t entered that day, but it still shows you the criteria for dealing with a fibonacci channel trade.
USD/JPY
It started with looking at the snapshot. Although the USD/JPY doesn’t have all the regions shaded, the charts show a more promising opportunity. The snapshot is merely a tool to track what’s happening with various timeframes and have a place to look for opportunities. Here’s the snapshot for today with the USD/JPY circled in red: 
Then we start looking at the charts. First, the 1hr chart has a nice downward slope. Near the bottom, you’ll see that prices have flattened out into a small (but short lasting) consolidation: 
If we zoom into the 15-min charts we’ll see this consolidation in more detail: 
What to look for?
There’s two ways to enter this trade. We’re looking for short opportunities. You’ll also notice in the image above that there’s a tighter channel (thin blue lines) within the larger channel (thick red lines). To go short we’ll look at the 5-min trend. We’re looking for possible entries:
- Prices move to top of channel, then bounce down. Ride the trade to the bottom of the channel going short.
- Prices move down and break the lower channel. When prices retrace back up to form an umbrella handle below the channel, get in and ride a fibonacci wave.
I’ve illustrated these scenarios in the image below: 
Sooner or later, prices will have to leave this channel. Since it’s an 80 pip channel, this could easily happen in a few hours once Tokyo opens at 11 pm GMT. I’ll be watching this casually all day…
Posted in
90 Day Forex Trading Bootcamp
Posted on July 29th, 2010
by Rapid Forex
This is a closed trade that was placed as part of a live forex training.This trade happened after a getting stopped out on the USD/JPY & two successful trades, a 55 pip gain & a 31 pip gain on the EUR/USD. So far my overall success rate with trades during the past few weeks is 63.63%, with a 14% average gain.
This trade was placed in a real forex trading account & was posted as it happened. Below you can read the unedited log of this trade to see an example of Forex Surfing in action:
USD/CHF Archive Trade
The trades to watch for for today’s Sydney/Tokyo session are listed below:
USD/CHF
I’m just entered a 1-hr Forex Sail on USD/CHF Forex Sailing opportunity that I discovered during the the London/New York session earlier today. During the last session prices trended up slightly, making the trade just out of range to get in at fibonacci retracement. Today prices have retraced back down to a better entry price. Here’s the order screen with the settings for the order I have placed: 
Here’s the 1-hr chart used for entering the trade (the circle is the entry price): 
Here’s the filled out fibonacci worksheet: 
Here’s the numbers for the recent wave. It’s a double wave, but since they’re both the same size, I just used the 2nd wave for entry (so the numbers below go with the worksheet): I: 1.0479 II: 1.0640 III: 1.0565 entry: 1.0564 long stop: 1.0479 (max risk = 85 pips) limit: 1.0739 (potential profit = 175 pips) reward/risk = 205.88%
Stopped Out
At 09:37 am GMT on 7/29/2010 this trade hit it’s stop for a loss of 85 pips. It basically went straight down after placing the trade. It happens with some trades.
Posted in
trades
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