Posted on November 15th, 2010 by Rapid Forex2 Comments »
If you’re interested in successful online forex trading, there’s a reason why you’re not successful trading yet…
Forex trading takes some BALLS!
It’s definitely not an endeavor for sissies. That’s right! In order to succeed at online forex trading, you constantly have to take risks…
You’ve probably heard your whole life not to take risks by some of the people closest to you. Just because you’ve heard this from people that care about you, doesn’t mean it’s completely accurate…
The Truth About Risk
It’s absolutely true that whatever you risk as your stop on a forex trade is money that you can LOSE! If the trade goes against you, you lose that money forever. It’ll never come back…
So you’d think that risking money over and over again is bad, right?
NOT TRUE!
Actually risking a smaller amount of money more times is “less risky” over all.
This is because every time you “risk” money on a trade, you have a chance of being right! So the goal is to play the game long enough to win. This is why forex money management is so important (here’s a free video that shows you how to do good forex money management).
Common Sense Example
What’s riskier? Risking your entire trading account on a single trade? Or Risking 1/20th of your account on a single trade?
The answer is obvious that it’s “safer” to only risk 1/20th of your account on a single trade!
What’s Stopping You?
If you’re not trading forex yet, it’s because you’re afraid of losing money. This is either due to a lack of knowledge, or a lack of confidence with the knowledge you have…
There’s an easy cure for this!
You need to start trading. There’s no way around it!
When you start trading:
You’ll lose some money
You’ll make some money
You’ll get more confident as you learn more
You’ll get better if you keep trying
You’ll learn from mistakes
You’ll become naturally curious about chart movements
You’ll have new questions that you’ll seek answers to
The REAL Risk?
I don’t suggest for one minute that you risk money you can’t afford to lose. The truth is that you already waste money in various ways.
But don’t let losing a few hundred dollars to learn keep you out of the game. You can start trading with as little $200-$500! This isn’t a ton of money.
There’s an amazing market out there called the Foreign Exchange. It’s there for you to profit from 24 hours a day 5 days a week.
You’re so close to cashing in on it…What are you waiting for?
If you want to become a forex expert, you’re gonna have to grow some balls and take some risks…there’s no way around this fact…nothing ventured, nothing gained!
Posted on November 10th, 2010 by Rapid Forex8 Comments »
A common question I get is:
Why do you teach people how to trade? If you can really trade, why don’t you just spend your time trading and not bother teaching people?
Two Reasons Why I Teach Forex Trading
I teach forex trading online for two main reasons. The first reason is to fulfill my purpose in helping other people be successful. The second reason is that it helps me be a better trader.
I’ve actually written alot on this blog about fulfilling your purpose in life. In a recent post called “What’s the Point of Trading?” I mentioned that helping people is an important part of our purpose on this planet.
Since I’ve been fortunate enough to succeed at forex trading and have a background in teaching, teaching forex trading is a natural fulfillment of my purpose.
Do I Actually Trade?
YES!!! Absolutely! If I’m awake, my computer is on and the charts are on my screen. I don’t sit glued to the computer, but I do glance at the charts in between watching a movie, cooking a meal, or when I come back from the beach.
Not only do I trade, but I also share every single trade that I do with my forex class. My trading is the class!
I don’t place a trade every single day, but I do a few trades a week on average. My primary focus is on my own personal trading.
I had to figure alot of stuff out the hard way. This website is here to help YOU learn forex trading faster than you could possibly learn without it.
A little while ago I celebrated my 7th anniversary teaching forex trading online! I feel really good about my contribution to online forex trading, which was barely even an industry when I got started teaching it.
My Commitment to Trading
I spend more time trading when I’m committed to teaching forex online. Without this commitment, I would literally spend about 3 hours a week trading.
But since I am committed to sharing everything about trading with the forex class I teach, it also benefits me from doing more trades.
But it’s not just for my benefit. I teach forex trading online because I’ve personally invested close to $100,000 in forex training courses & seminars over the years. They all had the SAME problem…ALL THEORY & ZERO HELP!
I’m incredibly fortunate to work with a small group of students who really want to learn forex trading online on a serious level and get to make a real difference in people’s lives.
What Are You Going to Do with Success?
I also help people in ways that have nothing to do with forex trading… I personally believe that our highest purpose is in serving others once we can succeed for ourselves. I ask that you take whatever value you get out of this website & pay it forward to someone else by helping them with your talents, abilities and resources.
Posted on November 3rd, 2010 by Rapid Forex5 Comments »
Yesterday I discussed EMA profit divergence for online forex trading. Today I’m going to show you how to use the MACD (moving average convergence divergence) to spot the end of a trend and how to exit a trader early.
The MACD provides essentially the same information as the double ema signal I mentioned yesterday. But the MACD plots the information different graphically.
This gives you different insight into when the trend is “losing steam.”
EMA or MACD?
Both EMA and MACD are valuable when used together. The gap divergence between candlestick & fast ema signal (discussed in yesterday’s video & today’s video below) is a great visual signal that the current price wave is nearing it’s peak. It usually reveals a price very close to the actual high.
But some times the trend will keep going. Although the MACD doesn’t signal this perfectly (anything can happen), it is a fairly reliable indicator to spot the end of a trend, or in other words a potential trend reversal.
MACD Video
The video below walks you through a 5 minute chart with the EMA/MACD setup. I intentionally “play dumb” as much as possible to follow the logic of what you’d be thinking as you read the signals.
This requires a little bit of practice, but it’s worth understanding as it’s one of the most basic (and useful) tools used by traders for online forex trading.
Smaller MACD Peaks
When the MACD reaches a peak (for an uptrend) or a valley (in a downtrend), it signals the near extreme of the price movement.
The shape the MACD makes is like a little hill, or mound. I call this the MACD mound.
If the MACD Mound is like a mountain, the trend will likely retrace a bit & then continue in the trend direction.
If the MACD Mound is like a hill (or at least much smaller than previous mounds), the trend will likely reverse and then move in the opposite direction.
Whether the MACD Mound is a hill or a mountain, when reaching the peak of the mound (maximum divergence) it signals the end of the current price wave.
I’ll explain more about how to use this concept in future rapid forex blog posts and videos
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