If you're an amateur to forex system trading and you need to be able to hit the ground running, you first need to learn about the basics of investing in this market. If you're like me, you don't want to have to master a lot of complex theory or confusing chart interpretations. Just tell it to me straight and plain. Show me what works and what I need to look out for.
Well, that's simply what you get, and more, from Dean Saunders' 10 Minute Forex Wealth Builder system training. The course is presented in a simple, straightforward style. It comes with a PDF manual along with several clarifying video tutorials. You discover how to find and choose profitable currency pairs, what the bid and the asking price is all about, as well as invaluable information about the currency 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 offer can alternate from one broker to the next, sometimes as much as three times the amount, depending on the broker. Dealing with a broker who offers narrow spreads can have a great difference on your final profit.
Another reason why Dean recommends this specific broker is because they allow trading in micro lots. This can be a substantial advantage for a beginner to forex trading wanting to test the waters before jumping headlong into the market. Of course, educating yourself with paper trading is recommended before putting any investment money at risk. Even so, being able to use micro lots can benefit someone without a large investment balance to build on that balance while also getting some helpful market experience at the same time.
The crucial area of money management in forex trading strategies is also gone over in detail along with risk management and how to develop a profitable trader's mindset. Dean also touches on a realistic approach for helping you to determine what your long and short term trading goals are, which helps to concentrate you on their achievement.
Ultimately, the course covers two systems of forex strategies: the breakout system and the swing trading system. Dean shows 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 outlines and you should do very well indeed. By following the strict 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 chained to your computer all day.