Forex Trading Made E-Z Forex Trading How to Trade the Forex Markets for Maximum Profits by : G. C. Smith Limits of Liability/Disclaimer of Warranty The author and publisher of this book and all material contained herein have at all times used their best effort in producing this material. However, the author and publisher make no representation or warranty with respect to the accuracy, completeness, or suitability of this material for use by any individual or entity. The author and publisher disclaim any warranties (expressed or implied), as to the merchantability or fitness of this program for any purpose whatsoever. The author and publisher shall in no event be held liable for any loss, damage or omission by the use of this publication, including, but not limited to, any special, incidental, consequential, or other damages This publication contains material protected under International and Federal copyright laws and treaties. Any unauthorized reprint or distribution of this material is prohibited. Page 1 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z Table of Contents Table of Contents.....................................................................................................................2 Disclaimer................................................................................................................................3 Preface................................................................................................................................4 Introduction.....................................................................................................................5 Background.....................................................................................................................9 Finding a Broker.....................................................................................................................11 Money Management.................................................................................................................14 Setting up Shop........................................................................................................................18 Managing the Latitude Lines....................................................................................................19 Constructing our Charts............................................................................................................27 Analyzing the Trading Day......................................................................................................33 Averaging the Swings...............................................................................................................42 Using the Oscar Calculator......................................................................................................45 Some Observations................................................................................................................51 Make Your PC do the Math....................................................................................................54 Point and Figure.....................................................................................................................57 A Trading Day........................................................................................................................61 Tips and Tricks.........................................................................................................................64 Some Final Thoughts................................................................................................................68 About the Author....................................................................................................................70 Appendix..............................................................................................................72 VIDEOS 1. Introduction.......................................................................................................................24 2. Managing the Latitude Lines .............................................................................................26 3. A Long Roll Day...................................................................................................................40 4. Averaging the Swings............................................................................................................43 5. Oscar..................................................................................................................................49 6. 2008 Videos........................................................................................................................55 7. 2009 Videos.........................................................................................................................63 8. Point and Figure..................................................................................................................60 9. Tips and Tricks....................................................................................................................67 10. Real Time Trading - (1).......................................................................................................67 11. Real Time Trading - (2).......................................................................................................67 12. Real Time Trading - (3).......................................................................................................67 Page 2 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z Disclaimers Each individual investor’s success depends on his or her own background, education, dedication, commitment, desire and motivation. As with any business venture there is always risk of loss of capital and there is no guarantee the use of this publication will result in profits or success. The information contained herein is intended strictly for educational purposes. Nothing in this publication should be construed as a recommendation to buy or sell any security or to provide any investment advice. It is possible the author and/or publisher of this book at this or a subsequent time in the future may own, buy, or sell securities discussed. Information provided herein has been obtained from sources believed reliable but no guarantee is made as to their accuracy or completeness. The advice of a competent legal, tax, accounting, or business professional should be sought at all times. U.S. Government Required Disclaimer – Trading foreign exchange markets on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Readers of this publication should also be aware of the following CFTC disclosure rule 4.41 regarding hypothetical performance results: HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN ACTUALLY EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS MADE THAT ANY USE OF THIS INFORMATION WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. Page 3 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z PREFACE The material you are about to read is the full and complete version of a condensed report entitled “Forex Trading Made E-Z ” The condensed report, consisting of 25 pages, was written in abbreviated form to introduce traders to the author’s strategy and is reproduced here for those who have not received a copy of the original report. It is important to read or re-read the original report – especially the section on money management since it embodies the original concept I derived from martial arts legend Bruce Lee. In his movie, “Game of Death,” Lee envisioned a pagoda on a small island where each level is guarded by a greater and more advanced defender. To reach the top he must win at each level. The same is true if we are to attain the goal of earning $500 per day, starting with as little as two or three hundred dollars. My vision in writing this manuscript is to help you reach your level of success by winning in the Foreign Exchange Markets. “Forex Trading Made E-Z ” Published by Adrian Research & Development Page 4 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Website: http://www.forex-trading-made-ez.com Email: adrianrd@forex-trading-made-ez.com Copyright © 201 9 Adrian R&D All Rights Reserved Revision 8 .4 Forex Trading Made E-Z INTRODUCTION You’re about to embark on a journey like nothing you have ever experienced. By the time you’ve reached the half-way point of this book you’re going to say something like, “Maybe it really is possible to earn $500 Dollars a day!” Let me introduce myself. I’m G.C. Smith. Perhaps you know me from my previous eBook, “$500 Dollars Per Trade.” Maybe I’ve met you at seminars we’ve attended. Or maybe we’ve exchanged emails in the past. Whatever the case, you’re going to enjoy the trip I’m going to take you on as we learn all about how to trade the Foreign Exchange Markets – Forex for short. It’s now a little after 8:30 PM, Pacific Daylight Time, on Sunday, September 13 th 2009. I’ve just finished watching 60 minutes on TV. I also bought a $12 pizza from Papa Murphy’s. While I’m eating I just happened to see an easy trade shaping up on my PC. I see so many of them it sometimes makes me frustrated. It’s like a patrolman watching speeders go by: “I can’t catch ‘em all!” If I can trade the Eurodollar against the U.S. Dollar from 1.4540 to 1.4520 I’ll make twelve bucks which will pay for my pizza. Using the tactics you’re going to learn in this report I did just that. It took about an hour. And this isn’t even my normal trading day – Monday through Friday. Okay, maybe I’m showing off. But, now that I’ve got your attention, let’s look at my trade a little closer. Because this trade represents what could be your goal to make $500 Dollars a day – or one million Dollars by next year. There’s no reason you can’t, as long as you follow the rules I’m going to outline and maintain the discipline it’s going to require. Page 5 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z Let’s look at a chart of the trade. Each candle is equal to five minutes in duration.. We’ll explain more about this later. Note how prices are swinging back and forth? That’s good. If they remained flat, no one would make (or lose) anything. And, prices were trending down! We sold 6,000 units (equal to $0.60 cents per pip) using about $190 trading dollars. We entered the trade at 1.4540 and closed it at 1.4520. That’s equal to twenty, so called “Pips.” Twenty pips times 60 cents is $12. Again, right now don’t worry about all the technical terms and words. I don’t know an awful lot more than you about what all this means – and I could really care less. But I do know how to trade. And that’s what I’m going to teach you. So, hold on to your hat, and bear with me as I try to describe what could be a turning point in your life. Page 6 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z Let’s start by crunching some numbers. How long do you think it would take to double our money if we made five percent a day? That’s right. Five percent a day ! Before I answer that let’s go back to my pizza trade. I made $12 using around $200 Dollars. If we were to make five percent on $200 Dollars it would be $10 Dollars (200 times .05). With just one trade we made better than five percent! If we earn five percent a day it will take fifteen trading days to double our money. Hard to believe, but true. Take a look at this table. DAY START 5% END TOTAL 1 500 25 525 25 2 525 26 551 51 3 551 27 578 78 4 578 28 606 106 5 606 30 636 136 6 636 31 667 167 7 667 33 700 200 8 700 35 735 235 9 735 36 771 271 10 771 38 809 309 11 809 40 849 349 12 849 42 891 391 13 891 44 935 435 14 935 46 981 481 15 981 49 1030 530 Pretty impressive wouldn’t you say? If we could just double our money every fifteen days, the sky’s the limit! In fact, let’s see what it would look like. Page 7 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z 1 st fifteen days: $500 goes to $1,000 2 nd fifteen days: $1,000 goes to $2,000 3 rd fifteen days: $2,000 goes to $4,000 4 th fifteen days: $4,000 goes to $8,000 5 th fifteen days: $8,000 goes to $16,000 In just a little less than three months we could be earning five percent on $10,000 Dollars – $500 per day! Want to carry this a little farther? $16,000 goes to $32,000. $32,000 goes to $64,000. $64,000 goes to $128,000. $128,00 goes to $256,000. $256,000 goes to $512,000. And $512,000 goes to One Million, Twenty-four Thousand Dollars. Is this really possible? Yes! Is it realistic? Maybe! But, not without a great deal of training and discipline. For example. Right now, would you take $10,000 Dollars and try to double it? I doubt it. It’s too stressful. How about $500 Dollars? “Yeah, I could probably afford to risk that much,” you might say. Whatever amount you start with, that’s when your training begins. And, as you become more and more experienced, you can begin to trade larger amounts with more confidence. That’s the concept I’m going to teach you. How to handle ten thousand dollars as if it’s $500. Page 8 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z CHAPTER ONE - Background We’re going to start by debunking a bunch of myths. First off, you don’t have to understand a lot about the currency markets. Most of us know there is a difference in the exchange rate if we take a trip to Canada, or Mexico, or Japan. If you were to go to Japan right now, a dollar would buy about 100 Yen. You go to a kiosk or money changer, perhaps at the airport, and purchase whatever amount you think you’ll need. That’s easy enough. But what if you’re a large bank doing business overseas. Your client has just purchased 1,000 new Toyota’s and they need to be paid for with Yen. That’s not so easy. That’s why the Forex markets exist. Rather than try to teach you all about the Forex business in this guide, simply download this excellent publication that explains what Forex is all about. The author sells a training program for about $2,000. For the record, I do not participate in any sales commission for his program: http://www.forex-trading-made-ez.com/power_forex.pdf Now for some facts. The market is huge. More money changes hands each day than nearly all the stock exchanges combined. That’s not that important to us as traders because we can trade with as little as $100. There’s no commission charged, as there is at a stock exchange. That’s good. We don’t have to worry about paying extra if we get stopped out of our trade. (I’ll explain later what that means if you’re not an experienced trader.) Instead of a commission, a small spread between prices is leveled just like when you change money at the airport. For example, my pizza trade entry price was actually 1.4541. I had to make slightly more than $12 dollars to net twelve. The most important thing I want to impress upon you at this time is risk control. Page 9 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z You’re going to make money. But you’re also going to lose money. How much you lose will determine your net profit. Always keep that in mind. You must control your losses if you expect to make the kind of money we discussed earlier. Lastly, this is a “hands-on” trading manual. I’m going to train you to make money the same way I trained many pilots to fly jetliners. That’s right. For many years, as an airline captain/instructor, trained by Boeing, I taught other airline pilots how to fly jetliners. So what’s that got to do with trading? Just this. When it comes to flying airplanes, you want to do it in the safest way possible. And the same thing is true when trading! You want to do it in the safest way possible. Much of the material will be very specific. Much of it will be repetitious. But that’s how you learn. Don’t try to outguess the strategy. Everything you’ll learn has a purpose. Keep an open mind and you’ll do just fine. You don’t have to be smart. You don’t have to have a degree in rocket science. You just have to follow the rules and procedures. Just like flying a jetliner! Page 10 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z CHAPTER TWO - Finding a Broker First things first. We need a broker to handle our transactions. This is a little dicey for me because I use a broker I consider one of the best: OandA. It’s just my own opinion. And I don’t receive a dime for referring you to them. You may already have a broker of your own, but if not then give them a try. For one thing all the charts and trades you’re going to see in this report are done on the OandA platform. If you’d like to check out additional brokers, try www.google.com and type in “forex brokers.” Here’s a post from a forum regarding OandA that expresses my sentiments completely. From: Nick in Brisbane Review: “I've been using OandA for almost 2 years and haven’t experienced any major issues with their service or platform. Their charting software is not the best but the most important things for me are tight spreads on the majors and reliable execution of orders. The bitching that goes on here about wide spreads during data releases just confirms my opinion that most would-be traders here are novices with very limited experience or knowledge of the mechanics of financial market places. During volatile market conditions all brokers have to face and deal with widening spreads from their liquidity providers. That’s the nature of the global interbank market. For some reason all the "Johnny come lately" trade-from-home novices that frequent this site think that for some reason brokers such as OandA should bear the cost of this volatility by guaranteeing fixed spreads. Trading currencies intra day is not a get rich scheme but a highly skilled niche skill. If you can’t devise a way to make money without betting on split second volatility during data releases then go and find something else to do.” Page 11 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z What he’s saying is there is widespread trading based on news events. For example, if you think an interest related report is coming out that is going to move the markets, you jump on it. But let’s be honest. Do you think you can catch that kind of trade consistently when your competition is big banks with millions of dollars? I don’t trade news stories. I never have. It’s just not worth the grief if you’re on the wrong side. So I would strongly encourage you to refrain from that kind of trading unless you have a really good crystal ball! Now that we’ve got that out of the way, let me be more specific. I only trade the Eurodollar/US Dollar (EUR/USD) pair, but my strategy works with any currency pair. If one currency gets stronger than the other then the numbers go up (or down). To tell you the truth I don’t really understand why. The less I know about economics the less likely I am to be influenced one way or the other! I just know how to trade the numbers! Now, this is very important On most days, at precisely 08:30 AM, Eastern time, and then again at 10:00 AM Eastern, a variety of reports usually come out that can shock the markets. We want to avoid holding a position around those times! If you want to check for all the daily reports from around the world go here: www.forexfactory.com Once again, for the few moments before and after these times, avoid trading. When the fireworks are over we go back to our regular trading pattern. If we don’t reach our goal of five percent, possibly because of a very slow day, we don’t try to make up for it. We simply wait for tomorrow to continue our efforts. Page 12 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com We make our profits on small, consistent trades that add up to five percent per day. We don’t usually shoot for a big killing that might expose us to devastating losses! Forex Trading Made E-Z We’re not in a hurry. We’re not greedy. We know we’re going to the world series even though we’re going to lose a lot of games on the way! Before I finish beating this issue to death, there is one more thing you must take into account and that is the meeting convened, usually eight times a year, by the Federal Open Market Committee (FOMC). This is the group (commonly called the Fed’s Fund Rating) that defines interest rates. This has a huge impact on the currency markets. DO NOT try to trade during the few minutes before and after the report is made public, around 2:15 PM. Eastern. To obtain the dates, go to: http://www.federalreserve.gov/monetarypolicy/fomc.htm#calendars End of issue! Page 13 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z CHAPTER THREE - Money Management Before we get into the actual tactics of trading the Forex markets we have to cover what I consider the single most important element of trading: money management. We can be the best trader in the business, but if we let our losses exceed our gains we’ll end up being a loser! I often compare trading to gambling. I talk about it extensively in the last chapter of this program manual. It’s called “gamblers mentality.” If you gamble and make money you believe you can make more if you just keep betting more and more. Some gamblers even feel guilty about winning so much in such a short time – but that’s another story. When you gamble at a casino the odds are pretty much even. Less than one percent at the dice table. That means you should lose only one dollar for every one hundred wagered. So why is it 97% of the people go home broke? Do I have to answer that, or do you know the answer already. It’s called greed. And that’s what you must overcome if you are going to be a successful trader. Here’s what happens if you’ve been making money at a casino and start to lose (which is inevitable). First, you begin to lose control. You bet bigger and bigger as you lose. You toss aside whatever strategy was making money for you when you were winning. You start “chasing” your money. Any idea of making a profit is abandoned. You’re only thought is getting back even. Until, of course, it’s time to go home. Page 14 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z And that’s what this chapter and the Forex markets are all about. You’re already home and the markets are still open. Forex is a 24 hour casino, right on your PC! And, unlike internet gambling, it’s legal. Nevertheless you must accept the fact there are millions of traders out there – like a vast casino – that all have the same idea. “Make a bundle of money, and go home.” Well, we’re going to rise above that “herd mentality.” Just like a cattle stampede you’ve seen in the movies. Do you want to be a part of that? I didn’t think so. So, here’s how we handle our money, plain and simple. Let’s go back to my pizza trade. I made $12 using about two hundred dollars. Let’s see . . . that’s about six percent on my money ($12 divided by 200) (duh!). But what if I had lost six percent? That’s $12 also. Would you agree that’s not a very good way to trade? We need to lose less than we earn. How? By limiting our loss to no more than two percent on any one trade. That way we maintain control of our money. Let’s say we really had $1,000 dollars in our account. 2% of $1,000 is $20. We could actually lose three times and still break even if we earned six percent, or $60. We don’t have to be real smart. We just have to do the math! And the Forex markets allow us to do that. We know exactly where to get in and where to get out to make or lose two percent. And many times we’ll lose much less than two percent – often just breaking even – which is fine with us. Remember, our original goal is to make five percent per day. And that brings us to the hard part. What do we do when we’ve made five percent? We quit for the day. “But why quit when we’re making money?” you might ask. Let me ask you a simple question. What are you going to do if your very next trade is a loser? Are you going to quit then? Once again, I don’t think so! Page 15 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z Now can you see what I’m getting at. Our overall goal is to double our money every fifteen days. So, maybe it takes eighteen or nineteen because we had some bad days. What’s a “bad” day? It’s when we lose ten percent of our money. That’s $50 on five hundred. Once again, we quit for the day if our losses total ten percent of what we started the day with. Some traders will argue that’s excessive. But, as we’ll see, our strategy is so strong that it’s rare to have a “bad” day. Plus, a good trader will always quit long before that. The next day we start out like nothing happened. We have a fresh mind and attitude and pretty much know our strategy will overcome our losses. We’re not trying to “get our money back.” We’re not beating ourselves up because we had a losing day. We’re in control! Now, let’s recap all this. 1. We never risk more than 2% on any one trade. 2. We quit for the day if we’ve made five percent on our money. 3. We quit for the day if we’ve lost ten percent. 4. We also quit at 3:00 PM Eastern for a few hours until the market activity picks up again usually around 10:00 to 11:00 PM Eastern, sometimes sooner. If you start your trading day like I do at 8:30 AM Eastern (5:30 AM Pacific) – since I’m retired – I’m usually done within 2-3 hours. Often in less than an hour! If you have a day job you might trade after dinner instead of watching TV! Of course when and if you make a go of this business you can quit your day job. Page 16 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Now, here’s a couple of tips to help you maintain your discipline. First, to keep you from going back to the trading tab le you can simply turn off your PC If you don't wish to do that, you can just turn off your monitor. But to tell you the truth if you can't control your emotions, perhaps Forex trading is just not for you. Forex Trading Made E-Z Next, here’s an example of how I keep track of things as I trade. I take a shopping list and jot down my objective for the day - good and bad. It looks like this. Each time I complete a trade I add up the score. I know how I’m doing at all times. There’s no doubt in my mind. Try it yourself! Page 17 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z CHAPTER FOUR - Setting up Shop Let’s log on to our trading site. I’m going to use http://www.oanda.com but you can use whatever you have now, or try out OandA if you’re a newcomer. Most firms, including OandA, have two kinds of accounts. An actual trading account and a “demo” account that works the same way. If you’ve never traded before then I would suggest the demo account at first, then open a real account for maybe $100 until you become more experienced. Once you’re on the home page scroll down to “About OandA” on the left side. After reading about the company, which is pretty impressive, go to their FAQ site at http://www.fxtrade.com/whyfxtrade At the bottom of this page you can select either “Open An FXTrade Account ” or “Open An FXGame Account ” which is their demo account. Then go back to OandA and log in. Go to “Deposit Funds” and follow the instructions. It’s easy and it’s secure. You must first submit a form, for security purposes, that tells them you are going to submit funds. Follow the instructions, but be sure to click on “Log in to cash management” to advise them you are sending funds. The rest is easy. You will have to pay a small fee to transfer funds. Don’t worry about it. Hopefully, you will quickly make up this fee. Are you ready to go? Because you’re about to enter the “big time.” It doesn’t matter if you’re just starting out with $100 or $100,000. You’re going to double your money if you follow the rules I’m going to outline. Page 18 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com If you decide to open an actual account, you will need to fund it. The simplest way is with PayPal. If you don’t have a PayPal account go to http://www.paypal.com and click on “sign up” and follow the instructions. You can also use a credit or debit card and/or a bankaccount to deposit funds. Forex Trading Made E-Z CHAPTER FIVE - Managing the Latitude Lines Well, we’re finally ready to make some money. But first, I have to remind you that we’re also going to lose some money. Remember our loss factor? 2%. Multiply whatever you’re starting with by 2%. Let’s say it’s $500. 2% would be $10. That’s what we’re going to risk on our next trade. That’s what we must base our trade on. A loss of $10. We’ll come back to that in a minute. Before we go any farther, however, I want to call your attention to a few items that I believe are important for you to understand. First of all, I am not a “Guru” in any sense of the word. I am simply a technically minded person with time on his hands who likes to train others to be successful in the Forex business. The same way I enjoyed training other pilots to fly jetliners.. The truth of the matter is, there are many, many sites that promise far more than they deliver. They prey on the “get rich without any work” crowd. That`s why I think you should know what you are up against before you begin trading. Although trading can be enjoyable when you are winning, it is actually a well structured enterprise to relieve the weak and uninformed from their hard earned cash. I`m going to tell you up-front, right now before you lose any money, if you are not willing and able to apply yourself in every way possible, you are not going to make a go of Forex trading. It`s just that simple! There is also another side element to this business, and that is the constant sales pitch traders receive once they have purchased a Forex product. I personally believe that is unethical and only points out the greed that exists within the internet framework. It is one thing to introduce you to another product that may have value for you, but to sell you another “horse racing system” simply because you couldn’t get the first one to work, I think is inexcusable. Page 19 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com Forex Trading Made E-Z That`s one reason I want you to fully understand what I`m about to teach you. For example, there is only one way to fly an airplane. You can go up, down, or sideways (level). But you can`t go backwards. The same thing is true with Forex. Prices can go up, down, or sideways, but you can`t undo what has happened to you in the past. In the pages ahead I`m going to teach you several strategies, each one designed to fit the activity of the Forex market. Think of it this way. If we are flying blind in a snowstorm we`re going to be using different procedures than we would if we were flying in the clear. It`s the same with Forex. We still want to get to our destination but we may use different tactics to do so. You can use these strategies by themselves, or you can use them in combination with each other. You may find one that works really well for you and disregard the others. That`s okay too. What I want you to be thinking of is this. I want you to be consistent. I want you to be a “smooooth” pilot. We don`t want to earn a nice profit today and then give it all back tomorrow. We`ll never reach our destination that way. My basic strategy – and the one I like best – is based on crossing horizontal lines I call “Latitude Lines,” similar to the lines drawn horizontally around the globe. As a pilot, if I’m flying from Seattle to Los Angeles I’m going to cross several latitude lines as I fly South, i.e. down. I’m not going to turn around at San Francisco, because that’s not my destination. I’m going to keep flying until I reach Los Angeles. If I’m flying from Miami to New Jersey I’m not going to turn around at Charleston, South Carolina. I’m going to keep going North! You get the picture. And that’s the way it is with trading. Many potentially good traders are always thinking ahead too soon – before they reach their final destination. So, we’re going to show you how to reach your destination by using a roadmap of prices on a chart! Page 20 ©Adrian R&D - All Rights Reserved www.forex-trading-made-ez.com