Planned Finances

August 1, 2008

Forex Game Plan

For those of you who don?t know, you have got to be careful with some of the guys out there in the Forex market because what happens is interbankfx will pay them money to get you to sign up and trade. I don?t want that pressure at all. I don?t get a dime from these guys. They are just one of the better brokers out there and they have got some really good support. When you go to the interbankfx.com website, you can sign up for a demo account. On that demo account, you will have access to the meta-trader software platform. You will be able to get support and get help if something is going wrong with the software, if you demo account isn?t working. I regularly call these guys to make sure they are answering the phone and if they can answer questions. Up to this point, they have done a really good job. If for some reason that changes, I will let all the members know as soon as possible so you won?t have to deal with them anymore.

The other reason why I like interbankfx, especially if you are just getting started in the Forex, is you can start trading; literally it is ten cents per tic so you?re not risking a lot of money but you are still in there with real money so you get that effect. I think that is the last housekeeping note I had here.

The reason why I wanted to load up my trading screen is because I wanted to go through this whole twenty minute exercise. Believe it or not, one of the things that was hardest I think, for people to believe was that is was only going to take twenty minutes to get the game plan in the marketplace.

There was just disbelief that they would be able in twenty minutes to get any kind of game plan in the market. So what I want to do here is talk a little bit about some of the opportunities that I see in the marketplace and also I am going to go through after those opportunities, exactly this twenty minute game plan. So you will have a very good idea that not only is possible, but exactly how to do it on your own computer. You should see on your screen a weekly chart. If you are seeing the video portion of this of course, don?t worry about it. We are just getting to it.

The reason why I start with the weekly chart is because this is where the really big opportunities are in the Forex market. I know that the course is on short term momentum day trading but the one thing that I learned over time, the number one mistake amongst day traders, even day traders with a lot of experience; they forget that the big money players in the market are looking at longer term charts. In fact, most of the guys that I knew in the hedge fund business would probably have a coronary, would have a heart attack, if someone told them they had to look at a five minute chart.

They would have no idea as to what to do with something like that. I mean these are guys that are looking at, in some cases, five year charts. For every bar, it?s five years of times or a year or quarters, months, weeks certainly; maybe a daily.Mac X is recognized as a forex expert trainer, forex trader and author of three best-selling forex trading books and Home Study Courses including "How To Get Filthy Stinking Rich Trading The Forex" book and Home Study, "How To Trade The Harmonics of The Foreign Exchange Markets". Mac X has trained over 1,300 students in large forex seminars, one-on-one and small groups. Read Mac's Forex Blog for more Forex Trading information.

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