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Fundamental News for Forex Sailing

The second step in Forex Sailing is to quickly look at the upcoming fundamental announcements and current forex news to see if there is a reason to doubt the trend you spotted when looking at the daily trends in forex charts.

To understand the first step of Forex Sailing, make sure you read “Timeframes for Trading Forex Sailing” before following this step.

Avoid Upcoming Treacherous Fundamental Announcements

When using Forex Sailing for online forex trading, we don’t want to “rock the boat.”

Fundamental Announcements that cause a shockwave will cause us to possibly drown (it could be a wild ride, but we’d rather sail safely ).

Fortunately, we can plan ahead for certain “storms” in the forex trading ocean.  To spot these danger zones, all you have to do is look at an economic calendar for scheduled fundamental announcements for the next week.

To find the fundamental announcements of HIGH importance, go to the free economic calendar at dailyfx.com.

If you see any HIGH level of importance announcements, you’ll want to avoid trading that currency pair at that time.

This doesn’t mean that you won’t want to enter a trade, but it does mean that you’ll want to get out of the trade before the HIGH level announcements are released.

To spot these announcements, just look for the red HIGH label under the importance column of the economic calendar at dailyfx.com.

Forex News Analysis

Unlike fundamental announcements which are scheduled, forex news happens at unpredictable times. Because of this, we want to quickly scan the news and see what’s going on to make sure it won’t rock our boat in mid-sail.

To understand forex news isn’t total rocket science. What you’re looking for are signs that either confirm or contradict your assessment of the trend direction you spotted in the first step of Forex Sailing.

As long as you don’t find any MAJOR CONTRADICTIONS to the direction of the daily trend direction, you can proceed.

What’s a MAJOR CONTRADICTION?

Let’s say you looked at the USD/CAD and spotted an uptrend in the daily candlestick charts.  Now let’s say you see a news announcement that of another $1 Trillion government bailout of the US Meat industry. This type of announcement should cause the value of the USD to go down (as major spending does). If Canada doesn’t have any news happening, I wouldn’t expect the uptrend to continue. I may want to avoid this pair until more news comes out, or until the impact of this announcement is fully realized.

As you gain more experience with online forex trading, you’ll be able to analyze forex news more accurately. If you look at your forex charts & scan the news ever day, you’ll start to understand how the news affects forex trading more deeply.

Where to Get Forex News

Dailyfx also has a great Forex Market News blog that’s constantly updated.  If you check dailyfx.com once a day (or ever 2-3 days) you’ll get all the forex news you need

Online Forex Trading for Lazy People

Starting on April 18th, 2010 I will be posting a weekly Forex Trading Market Analysis for the 6 MAJOR currency pairs mentioned in the Timeframes for Trading Forex Sailing post.

I’ll be posting a forex chart shot of the trend direction for the week along with commentary for any MAJOR fundamental announcements and forex news. The weekly snapshot will be particularly useful for Forex Sailing.

If you’re lazy, you can just read my analysis.

Don’t be lazy, you won’t learn as much…

Although I’ll be posting my weekly analysis for your benefit, it shouldn’t replace your own analysis. I could make a mistake, print a typo, or just be plain WRONG (it happens all the time). You’re ultimately responsible for the decision you make. I’m here to help, but if you do the analysis yourself (takes less than 15 minutes) you’ll even be able to let me know when I screw up (I’ll totally appreciate that

Weekly Forex Trading Updates & Shifts

I’ll be posting weekly forex trading trend analysis for Forex Sailing before the Forex Market opens on Sunday. The analysis should be good for the entire week. If anything major happens, I’ll post it on the rapid forex blog, if the analysis stays accurate I’ll leave it until the beginning of next week.

If you’re subscribed to the free 20 part forex trading eCourse at rapidforex.com, you’ll receive the weekly Forex Sailing updates automatically (no need to do anything else).

Get Ready to Go Sailing

Now that you’ve identified forex trading opportunities and spotted potential pitfalls, you’re ready to plot our forex sailing course and develop your forex trade plan.  In my next few posts I’ll show you how to get onboard for Forex Sailing opportunities.

Posted in Forex Sailing

Forex Scam – Twin Frauds Exposed

On Monday I asked the rapid forex blog readers to report any Forex Scams where they’ve been ripped off by shady online forex trading programs in my post: “Rapid Forex Scam Watch Gets Your Money Back“

A few potential scams were reported & I immediately emailed the “scam” websites and asked for a refund on behalf of the rapid forex blog readers who left comments that they’d been scammed.

The Results Shocked Me!

1. One person got a refund (YEAH  )
2. I discovered a BLATANT Forex SCAM!

The BLATANT Twin Double Forex SCAM

I almost couldn’t believe it. I discovered that some phantom forex rip off is out there scamming people every day under multiple aliases & is hiding somewhere where nobody can find them – WITHOUT A WAY TO CONTACT THEM!

Two Online Forex Trading Scams that Were Reported:

1. Forex Brilliance & Roger Mitch
2. Forex Illumination & Bryan Stapler

My Shocking Discovery:

These are probably the SAME Forex Trading Scam!

That’s right, I have uncovered evidence that Forex Brilliance, Roger Mitch, Forex Illumination, and Bryan Stapler are all probably different names for the SAME online forex trading scam.

This isn’t some Crazy Conspiracy Theory, here’s Hardcore Evidence…

• Both websites don’t have ANY contact information. If you need a refund, you can’t ask for one!
• Both websites use the same payment processor, plimus.com (fxbrilliance & fxillumination).
• Both websites have IDENTICAL disclaimers at the bottom (except company name).
• Both websites are privately registered through WhoisGuard.com, which is who you use to register a website to HIDE your contact information (so people can’t find you).
• Both websites use the same annoying “Wait, before you leave” exit pop-up to keep you on their sites.
• Both are priced just under $200 USD.
• Neither site has any evidence that the website owner is a real person (no pictures or a creator’s voice).
• Both websites have the word fx instead of forex in the domain name, which is common, but not standard.
• Brilliance & Illumination sound oddly similar (like the scammer is probably from the UK judging by the popularity of these words there).
• Both websites are selling an automated forex trading robot, so it’s probably the same software only rebranded.

There may be more similarities, but I don’t need to look for any more. This is the SAME forex trading SCAM being perpetuated by the SAME person or people.  I doubt the pennames are real people, but they could be.

Like the rapid forex blog readers who reported to be scammed by Fx Brilliance & Fx Illumination, I didn’t get any response from my attempts to contact them through their privately registered forwarding email address.

You can try contacting them here:

1. Forex Brilliance’s private email address: 1284de2633e14956b46fd6a69241df59.protect@whoisguard.com
2. Forex Illumination’s private email address: e359f8686a4f4862ba6db4a74396dd77.protect@whoisguard.com

As you can see, this isn’t the type of email that a reputable online forex trading company would use. In fact, this is the only way we can “attempt” to reach them…

If you’ve been scammed by Forex Brilliance, sorry I meant Forex Illumination (I keep confusing them because they are the same), your best recourse is to contact their payment processor:

Click Here to Contact Plimus.com to report being ripped off by Forex Brilliance & Illumination

There’s nothing more that can be done to stop this guy behind these two online forex trading scams.  I will say that it’s possible that one of the scams was copied by the other one & they could be separate companies. I think the evidence shows that they’re linked.

If you’ve been affected by these forex trading scams, or if you’ve tried to contact them, please leave a comment below so we can have a record of everyone involved.

Posted in Forex Trading Scams

How to be a Forex Trading Expert

The Forex Market is one of the most lucrative ways to make money imaginable. If you can learn how to become profitable at online forex trading, you will be able to make as much money as you desire!

What Separates the Winners From the Losers?

The Painful Truth: Most people lose money at online forex trading. These are the people who don’t know what they are doing.  Just because some people don’t know how to profit from forex trading doesn’t mean it can’t be done!

You Need to Be a Forex Trading Expert!

You are essentially competing with other forex traders when you’re trading the forex. The people who know what they are doing will take all of the money from those that don’t. You may have heard the statement that “the top 2% of all Americans possess 98% of the wealth in the US.” I believe the same ratio is true with forex trading.

The top 2% of Forex Traders Make 98% of the Profits!

This is no reason to get upset, it’s a tremendous opportunity for you if you can be in the top 2% of forex traders.  The good news is that there are MILLIONS of IDIOTS trading forex online. Forex trading has never been more popular & now is a great time to get into it!

How do you Become a Top 2% Forex Trading Expert in 30 minutes a Day?

Here’s the Secret to mastering online forex trading from Two Super-Geniuses and a Hungarian College Physics Professor:

Albert Einstein is one of the most intellectual geniuses EVER! He stated that if someone would study anything for 10 minutes a day, they’d be an expert in a year.

Michaelangelo is one of the most creative geniuses EVER! He has famously said that if you saw how many hours he experimented & put into his art, you wouldn’t think he was a genius at all.

My Hungarian Physics Professor in college was amazingly brilliant! He came to the United States from Hungary without knowing English. He decided to study only 10 words PER WEEK. Since most people only use a few hundred words for normal conversation, he became completely fluent in 3 months!

By emulating these geniuses, we can follow a three step formula for attaining mastery at online forex trading. Remember, you don’t just want to be “average” or “good”,  you want to be in the top 2% so you can make 98% of the money and become filthy rich from forex trading!

Become a Forex Trading Expert in Three Easy Steps

1. Apply Einstein’s Formula to Forex Trading – to be an expert in one year you need to study something 10 minutes EVERY day. To be in the top 2%, you need to do a little extra. I recommend 30 minutes a day. The key is consistency, so don’t commit to more than you can stick to.
2. Follow in Michaelangelo’s Footsteps – you’re not going to attain mastery in 5 minutes. Be prepared to spend some time to truly understand online forex trading. The rewards are tremendous, but there aren’t any free rides. You’ll need to earn it.
3. Learn from my Hungarian Physics Professor – this guy was a brilliant physicist with plenty of published articles. When he came to the US  he was already a phd in Physics in Hungary. He didn’t try to memorize 100+ words per week. He wanted to truly & deeply learn the 10 words. Once you get the basics of forex trading down (there aren’t that many), you’ll be able to do a lot with them.

The three step forex trading expert formula given above is really only one step:

Study Forex Trading consistently for 30 minutes a day and you’ll be a top level forex trading expert in a few months. This won’t happen at one moment in time, but you’ll transform into an expert top 2% forex trader over time (it’ll come quickly if you stay on course).

Here’s how to Put the Forex Trading Expert Formula to work to get bankable results:

Step 1: Look at live forex charts for 20 minutes a day, every day. This is a minimum. You don’t have to do much more (although you can look for longer), but you need to do this EVERY DAY (even when the forex is closed). To do this simply have your forex charts open and try to see opportunities based on what you know about forex trading.

Step 2: Learn Forex Trading Techniques for 10 minutes a day, every day. More is ok, but don’t go overboard. You can do this with your favorite online forex trading blog (hopefully it’s the rapid forex blog ). You can also read a few pages from books or courses on forex trading. The idea is to learn new things, but to deeply integrate the knowledge, this works with step 1 above as you should be looking in the forex charts for examples of what you’re learning each day.

My Forex Trading Promise to You

I PROMISE that if you follow this ONE SIMPLE SECRET, you’ll become profitable at forex trading online.

To prove this, ask your self this question:

“How many people are willing to put this level of effort into something to be successful?”

If you really think about it, you know that few people are willing to do this.

That’s also why few people are successful

But you don’t have to be one of them…

If you make a commitment to start RIGHT NOW and do your first 30 minutes, the next 30 minutes will end up being ultimately responsible for your entire transformation into an expert Forex Trader forever (as long as you stick to it CONSISTENTLY)!

Posted in Forex Trading Mindset