I mean, we would watch every single new release and even the arty foreign ones too. About a week before this story started, Mark asked Peter is he had a copy of the manuscript of WD Gann that he was after. Peter gives him a call a week later and tells Mark that a guy called Fred has just taken his forex trading course and is struggling a bit with it and asks Mark if he could spend a day with him to try to help him understand. Somehow he Peter had managed to get his hands on the manuscript I was after.
He wanted to make a deal. He would FedEx it down to me the same day if I would spend some time with Fred. He got me with the one thing he knew I would bite at. About two days before I was due to collect Fred, he calls me. So how much money are you making? Ow, this guy was to the point. I wondered if I had made a good decision agreeing to spend the day with him.
Monday morning comes and into the arrival lounge steps Fred. Big tall guy, over six foot tall. His hair was just starting to turn grey and he was dressed in baggy jeans and a T-shirt. I placed him about years old. We made some general chit chat on the way back to Blairgowrie and eventually we got in front of the screen where I started to explain how I trade.
So Mark get to work explaining and teaching Fred about forex. Fred just sat there looking at his with is face resting on his hand while his elbow on the table which made has face all scrunched up like a cabbage patch doll. Suddenly, Fred pretended to let his elbow fall off the table. Just show me the good stuff, you know, the thing that makes the money. Plus, at the rate you make money, I might be 60 before I make any decent money.
I had to laugh, Fred was an entirely different animal from me. We spent the rest of the day talking about trading and life in general. I laughed the whole day. This guy only knew how to do things one way and that was with both barrels blazing. Fred eventually went home and things returned to normal. A few days later I get one of many calls that were to come from Fred. I just listened dumb stuck. You could and still do get incredible leverage with Forex.
In those days there were no such things as mini contracts. I had just started trading with two contracts and here was Fred on his first trade, jumping right in there with ten contracts. How big is your stop I asked him. You can sit up there in the Highlands and watch the grass grow while I make the real money down here.
I was going to short the Pound so I went short 30 contracts and went out for a coffee. Anyway, when I get back you will never guess what happened. I screwed up. Over the course of the next few weeks Fred made about six trades and was increasing his leverage as he went.
He was now regularly trading 30 contracts plus. The pip dollar value is not the same for all the currency pairs because it varies depending on which currency pair you trade. Mark was really curious to see how Fred was doing this and what kind of forex trading method he was using.
Forget it I said. You need to take a break and spend some time with the family. Silence on the other end of the phone. A few hours later he calls again. He wanted to trade without a dealing station and no access to charts. Send me a 5 minute of the Yen and I will keep it to ten contracts. I knew that regardless of what I said he would find a way to trade.
Obviously going over his 10 contract limit he promised me. Fred really had an incredible run. Fred was using his forex leverage to the maximum and he was succeeding…or so it seemed. He kept pushing it, trading huge contracts and still using his forex leverage to the maximum.
Now if you trade currencies, you know that nothing much happens on a Sunday night. Asia opens but generally there are no big moves. Why the stock market? She spent hours studying market timing and technical analysis and even plotted stock charts by hand. Her obsession slowly became her profession.
During her freshman year in college, she met a professional pit trader who introduced her to futures trading and she soon added commodity futures to her trading arsenal. Slowly and diligently, Raghee developed highly disciplined trading strategies based on hours and hours of chart work, research and trial and error.
High powered executives on the Street hired Raghee to teach her trading - 4 - strategies to mutual fund managers and hedge fund managers. Even individual traders sought her advice. With an emphasis on charting and price action, Raghee continues to teach the tools and strategies that encourage self-directed traders to pursue the study of technical analysis and market psychology.
Today, she runs the wildly successful www. Raghee will also critique your trades and give you a no punches pulled assessment of how to grow your talents. Many have found the money they save on correcting a few trading mistakes more than paid for the course. Although the main emphasis is on Forex, Raghee always offers some special classes on futures and stocks. In addition, her indicators and triggers are universal to all the markets. She has written more than articles on investing, active trading and market psychology.
She has also been a regular on the Money Watch Radio Network. I believe she has hit a homerun with it and was honored to have been asked to write the introduction. Successful traders know there is a message that the market is always communicating. Profitable traders listen for the cadence and ignore the cacophony.
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In , after years of successful stock and futures trading, Raghee The Million Dollar Set-Up is more than just a series of steps – it's a mindset. Learn how you can go from Zero to $1 Million in 15 months in Forex trading by utilizing two different trading strategies. Currency Trading and Forex Success Secrets - Most Asked Questions on becoming a Successful Currency Trader ebook by Frank Brill - Rakuten Kobo.