If you're an amateur to forex system trading and you want to be able to hit the ground running, you first need to learn about the fundamentals of trading in this market. If you're like me, you don't need to learn a lot of complicated theory or confusing chart interpretations. Just give it to me straight and plain. Teach me what's effective and what I have to look out for.
Well, that's exactly what you gain, and more, from Dean Saunders' 10 Minute Forex Wealth Builder system training. The course is written in a simple, to-the-point style. It contains a PDF manual along with several illuminating video tutorials. You discover how to locate and choose successful currency pairs, what the bid and the asking price is all about, as well as vital information about the foreign exchange market itself.
Once you are clear on the basics, Dean recommends a specific foreign exchange broker who provides free charting software based on the MetaTrader 4 charting platform. In addition, this broker offers tight spreads between the bid and the ask. The spreads that brokers allow can fluctuate from one broker to the next, sometimes as much as three times the amount, depending on the broker. Working with a broker who allows narrow spreads can have a great impact on your final profit.
Another reason why Dean recommends this specific broker is because they allow trading in micro lots. This can be a significant benefit for a newcomer to forex trading needing to test the waters before jumping headlong into the market. Of course, educating yourself with paper trading is prudent before putting any trading money at risk. Even so, being able to use micro lots can permit someone without a large investment balance to build on that balance while also getting some valuable trading experience at the same time.
The crucial area of money management in forex trading strategies is also covered in detail in conjunction with risk management and how to develop a profitable trader's mindset. Dean also touches on a realistic approach for assisting you to discover what your long and short term trading goals are, which helps to concentrate you on their completion.
Ultimately, the course covers two systems of forex strategies: the breakout system and the swing trading system. Dean demonstrates for you what indicators to look for to enter your trades, where to place your stops, and when to take profit. You don't have to think about anything, just abide by the system he recommends and you should do very well indeed. By following the stringent trading rules he lays down, this takes the fear and greed out of the trading picture, while allowing you to live your life without becoming a forex market junkie tied to your computer all day.