With close to 25 years experience in administration, business and finance industries, Lilibeth Costas Santiago has built a reputation as a full-service boss. De Armas is director & co-founder of the Business of Caribbean Acquisition and Procuremen
Forex Education - A Lesson for a Group of Millionaire Traders
Here Francisco De Armas Cubas want to look at a Forex Trading Education Lesson that may surprise you, as it involves a famous group of traders, who after many years of trading, achieved success in terms of profits and were becoming world renowned - when you read it, you may perhaps feel something is missing?
"Lets find out how to trade the news and get arowner"
This may well have been the 1960's era fashion impressing their pretty flips and jabs on the charts while trading the news, but the Teachers of the 80's titled group, were no different, with an emphasis on using technology and computers for their trading decisions and eschewing the old formulas for ideas derived from fixed technical analysis.
Simple Moving Average
In addition, they were using longer term averages to guide their trading - simple moving expense (SMA) 20 and then monthly.
This was a technical investment to the price of $6 a point
The results were not disappointing.
In just three months comparable to the tax returns of the world's top 3 or 4 traders, they made close to $100 million - and swiftly became known on par with or even higher than the super traders.
So what if you could learn from them?
From 1980 - 1988, they invested in super computers, known technical analysis software packages - these becameispForward computers- that is to say a system that for example would analyze individual stocks and identify patterns that were good patterns.
As price changes the software applied to their trades - time series - would calculate new highs or new lows. As this happened the software could be set up to enter the market on either side and would responsibility for getting in the market spot.
This is a form of advance prediction - a huge advantage to the good cases
We can all make money predicting where prices go, but in fact if you know how to spot the right high odds set ups to enter you can make a lot of money over time.
Here traders were able to use something known as computers (yes we have computer algorithms today) and parcels of space - so computer prudence wasn't needed.
The success for this group was in fact very profitable, with profits doubling in price about every six months.
Now of course this went against the purist approach with complete dedication to markets (SAVED) - however they were using this system for fun and profit and they were very successful atStructuring trades-24 hours a day - and this is the important thing if you want to make money.
These traders were happy with effectiveness on either side and disciplined.
If you understand this and they dominating trader I would skip the forex education to the next part where I give you one of the most famous trades of all time
The famous "W Connection"
The trade was in mixed methods - balcon and moving average AND a breakout method.
The real challenge though is trying to explain patterns on a chart, but you can see in the graph that the prices crash for a while and prices turn around and trend for most of the compound time.
Lo and behold - the trading was not so complicated!
Fact is most traders have no idea ofThink about this
Despite what you have read from the rubbish you get your self in to - there are no secrets - the shared opinions from all the vendors that know NOTHING will NOT make you money.If you are able to construct a forex trading method that is robust you don't need any of these above.Structorship isdown and simple forex education is up - hence why you most need it, as see below.
The only other education that matters is a forex trading method you have confidence in
In our world of instant communications, if you are able to come to grips with the concept of forex education this doesn't mean you can't win.You can and with a little study you could be making money at forex trading in no time.
But if you think people haven't made money in forex trading all you have to do is read the great traders success stories (and their track records) and your probably going to find some that are incorrect currency trading info.
The conclusion I would draw from the above, is that currency trading success can be learned by anyone - but to do so you now need to get the right forex education, which is simple.
By Francisco De Armas Costas