Forex Trading For Novices - Learn This System In Under an Hour and Target 100%!

Forex trading for novices can seem confusing so here I am going to give you a system you can learn in under an hour and immediately target 100% gains or more – its simple and it’s effective so, let’s reveal it.

The first point to make is, although I write articles, I am a trader and have been for 25 years.

I am not a self proclaimed expert, so here what I say, as I walk the walk, rather than just talk the talk.

I have tried lots of ways of trading and this is the simplest method I use and probably one of the most effective.

I am going to call it Fundo-Tech trading and that’s exactly what it is.

If you read much of the information on the net, you will hear lots of stories how you can predict currency prices with scientific accuracy, all for a few hundred bucks! Well, call me a sceptic (or a realist) but they don’t work and never will and if they did, people wouldn’t sell them to you; they would be to busy making money.

So what is Fundo-Tech trading?

Exactly what it sounds like, a blend of fundamentals and technical inputs. The first for defining strong currencies, the second for timing entry.

Currencies move to the long term fundamentals, we all know that but their hard to trade, as humans see the facts, they’re there for all to see but you, me and millions of others, draw our own conclusions from what we see.

In simple terms we have this equation:

Fundamentals + Human Perception = Price direction.

That’s not too difficult to understand is it?

Now let’s take economies with strong currencies – this is the fundamental bit.

Currencies that rise tend to have good interest rate earnings, strong economies, and budget surpluses and export more than they import.

Let’s take the US dollar first – The American economy is swimming in debt (and so is the population) and the budget deficit is huge and finally, it has to import raw materials that are rising in price.

Now let’s take a strong currency - the Canadian dollar.

Canada has huge amounts of commodities including oil it sells, has a huge budget surplus and has good interest rate earnings.

The Canadian dollar therefore should rise against the US Dollar and it has.

In fact if you check out my other articles I stated this months ago and I made some great gains.

Now you may be saying - that sounds simple!

Well yes and no.

Picking the direction is easy, entering the trade with good risk reward is a different matter however this is not to complicated either, lets look at how to enter correctly and another great currency trading opportunity.

Resistance forms and simply means supply and demand are in equilibrium below the resistance and when prices break to a new high supply and demand are out of synch.

Notice here, we are looking to buy new highs NOT lows – this is called breakout trading and it’s a fact that most of the biggest moves come from new highs not lows, so forget all the buy low sell high is a great way to trade - its not. If you always want to buy low and sell high you will miss the biggest and best trends waiting for pullbacks that never come - when prices break they accelerate away from the breakout point quickly.

A few weeks ago when we saw the Canadian dollar break important resistance - we bought it and enjoyed the ride!

Now let’s look at another opportunity shaping up right now and it involves buying the dollar and our victim is the Japanese Yen.

Why?

Because the yen has interest rates at just 0.5%, a sluggish economy and is a bigger importer of commodities than America.

Last week we saw the dollar consolidate above significant resistance at 117.00 and were targeting 119.00 and maybe as high as 130.00.

We will now just sit back and wait as we did with the Canadian dollar.

We have lined up the technical with the long term fundamentals and timed our entry as the dollar has broken up outside of a trading range. If were wrong, our stop is tight under the recently broken resistance which is now support.

Does this method sound simple?

Yes it is, but that doesnt mean it doesnt make money - it worked in the Canadian dollar and you follow the yen for yourself.

Currency trading is simpler than many people believe.

Currencies do reflect the fundamentals, you just have to careful of your timing but that’s easy enough -use support, resistance and a few momentum indicators to time your entry and you’re all set.

You don’t need to trade often either, these trades tend to last for weeks or months, we did well in the Canadian Dollar now lets see how this one goes.

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