What is Forex Trading – for Beginners – Part 1

by David Jenyns on June 7, 2011






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www.leveragefx.com | How to trade Foreign Currencies using Fibonacci Retracements and Fibonacci Profit Targets.

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pavreets June 7, 2011 at 11:30 am

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TheTraderforce June 7, 2011 at 11:59 am

great man I love it

valarmanwe June 7, 2011 at 12:22 pm

@utube2344 Excuse me for butting in. I don`t think trading/ spread betting is a scam at all. The market does not tell lies. It can be brutal, but it is perfectly honest. Spread betting companies make their money the moment you place your bet – from the spread ( as I`m sure you`ll know ). The market doesn`t care whether you make a mint, or lose one. Scammers invariably do care !

JosephineChua89 June 7, 2011 at 1:05 pm

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MedwinSumner June 7, 2011 at 1:49 pm

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utube2344 June 7, 2011 at 2:31 pm

@lemryan1 actually I went on a website which highlights scams on the internet and forex was in the top 10 list. If this was legitimate and prosperous it would be greatly advertised in the media. I have no issues I dont like scams. These get rich quick schemes are obvious cons. Your a bunch of criminals preying on the ignorance and stupidity of western masses (particularly in the Unites States the dumbest developed country in the world)

lemryan1 June 7, 2011 at 2:35 pm

@utube2344 i think the only reason you are saying this is that you obviously is a person with some issues. reading what you wrote it is very obvious that you do not have a mature enough mentality to become a good trader. so i do not think trading is your immediate problem.

lemryan1 June 7, 2011 at 3:34 pm

this was one of the most informative videos i have watched since i started trading. i sincerely thank you. i am currently trading.

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indicatorguys June 7, 2011 at 5:13 pm

Why is every one so angry?

utube2344 June 7, 2011 at 6:03 pm

btw its so plainly obvious all the employees are posting on the wall to make others interested you fucking lowlife criminal scum fuckers.

utube2344 June 7, 2011 at 6:42 pm

Its a SCAM dont fucking buy this bullshit scam if this post gets deleted person who made this video I am taking a picture of what I wrote and afterwards when you remove it I will post it on internet further proving to people that your stupid program is complete bullshit.

JonnyMuzz June 7, 2011 at 6:51 pm

Nice vid.

raducumuculucu June 7, 2011 at 7:02 pm

Forex Trading 1985 ——->? /watch?v=KACDo519ccY

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forexKim June 7, 2011 at 9:00 pm

go check out forex teacher dot com and sign up for the mailing list and get great information on new and different things happening in the forex market.

BloodShotNow June 7, 2011 at 9:06 pm

my name is John Bastard X) and I am rich and you’re not lol

scoffsetsrl June 7, 2011 at 9:57 pm

Good intro information, I even learned a few things here. I also found two helpful articles on the subject on the blog from my profile section.

Adammmmk June 7, 2011 at 10:16 pm

Very informative. I learnt 50/50 from this video, and the one below. Finally making some serious money lol.

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Adammmmk June 7, 2011 at 10:38 pm

Very informative. I learnt 50/50 from this video. Finally making some serious money lol

BodyBuildingGo June 7, 2011 at 11:17 pm

Excellent video, and very nice tips! I have been living a very happy life doing forex trading, I learnt most of the stuff from ForexWi.com, but still your videos give good reminders too. Keep up the good work.

Reqrezentin June 7, 2011 at 11:34 pm

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MrTraderfr June 8, 2011 at 12:28 am

let’s do some simple trading!!! hahaha

leveragefx June 8, 2011 at 1:02 am

@CurrencyCafe I know many large traders and over 80% of them use Fibonacci levels and profit targets. Nothing works 100% of the time and without other tools they may not even work 50% of the time however when they work there are often big moves off of them and that’s the real key behind winning traders success, they hold winners and have much bigger winning trades then the tiny losses they have. You don’t even need to be right 40% of the time if you have 2.5X bigger wins than losses.

leveragefx June 8, 2011 at 1:24 am

@AleksM1991 This is only a tiny piece of our software and how we trade and teach. I do trade and we have a live room. Come to our classes and ask other traders in there how my real time calls work out. I created this software for my own trading and have traded for over 11 years now. Having a business selling the software I use doesn’t hurt my trading, only helps it as I don’t NEED to trade, don’t need money and thus can be more patient waiting for optimal trades.

leveragefx June 8, 2011 at 1:46 am

@freeSCALPINGindicato Fibs and especially Fibonacci profit targets are very useful for scalping as they make good areas to use to estimate risk vs reward ratios. NEVER take trades with less than a 1.5x bigger potential profit than what you risk. If likely target is 10 pips and you are risking 10+ pips don’t take trade. Only draw fibs on 25-35+ pip moves, under this they are completely WORTHLESS. The bigger the swing the higher % of the time they work and often to within 2-3 pips.

leveragefx June 8, 2011 at 2:02 am

@jenningsbg I agree and never claim otherwise. It’s a small piece of how we trade and I personally use them more for their profit target ability and to spot likely counter trend trades when markets are up/down statistically too far and they reach the fib targets with LOW momentum or slowing momentum. Fibs are no more than 5 to 8% of our systems, come to our classes, watch our free videos and watch our daily forex blog to see how we use fibs. When used correctly they are very useful.

leveragefx June 8, 2011 at 2:36 am

@FreeFOREXautoROBOTT EAs don’t work. I speak to over 100 traders a month and not one has ever told me they’ve made money from an EA. In creating an automated system its easy to make it profitable using PAST DATA but in the future when markets change as they always do then those systems usually lose a fortune. We teach discretionary trading instead using our statistically based momentum tools. If a market is up 4 days+ for example we look for counter trend trades.

leveragefx June 8, 2011 at 3:26 am

@makofski The #1 Secret to trading any market is small losses and bigger wins. NO TOOL works 100% of the time and only idiots think there are tools out there that do. This video is on Fibonacci but does not have the tools we use that show REAL TIME momentum. If the market retraces 50% but does so with low momentum then the odds of the Fib holding and causing a reversal are much higher. When momentum is high price blows right past them. Fibs are not even in our top 6 tools!

FXTimes June 8, 2011 at 3:55 am

Thanks for the examples. Also looking for fibonacci in time relations.
-Fan Yang CMT

FreeFOREXautoBOT June 8, 2011 at 4:54 am

I was using Fibonacci System on the last tradig day and i liked it very much, so i advise everyone to try.

makofski June 8, 2011 at 5:35 am

I can find you hundreds of moves when trend doesn’t retrace at 61,8 but breaks it like deep-fried pastry ribbons. Even on your video 00:46 – why didnt you draw fibo from previous swing down ? because it didnt retrace at 61,8 ? come on , so tenuous “guide”

FreeFOREXautoROBOTT June 8, 2011 at 5:53 am

nice vid, but i prefer EA..

omnipotent14 June 8, 2011 at 6:30 am

Great Video!!! I have started trading and will use the information that I got from this video

jenningsbg June 8, 2011 at 6:47 am

90 – some % of all FXC deals end badly for traders …. thnk thing through :) Fibs will not win you money by it self ! Just a reminder, if u will!

freeSCALPINGindicato June 8, 2011 at 7:13 am

How about FIBO and Scalping?

MCG0KU June 8, 2011 at 8:12 am

nice video!thanks…

leveragefx June 8, 2011 at 8:52 am

@aqeel3344 We look at many things and Fibs are maybe 5-10% of our system. First look at the daily, weekly and monthly statistical trends and we focus on weekly trend and if up we buy pullbacks and if down we sell rallys. We not only use Fib support/resistance but other common ones like previous days/weeks/months highs and lows, weekly and monthly pivot points and a few others. Mostly though we use real time statistical momentum and buy strongest ones and sell weakest. Watch our classes.

leveragefx June 8, 2011 at 9:48 am

@bostrader If you look on our site and in youtube we have up almost 100 videos. This is just ONE small component of the way we trade and teach and we never ever claimed otherwise.

aqeel3344 June 8, 2011 at 10:02 am

beside looking for a 30-50 pips move what else do we look for before we start to draw fib line? how can we add MVA to the ecuation ?
thanks

bostrader June 8, 2011 at 10:30 am

Very good! But the Fibonacci retracement can’t be the only one instrument for a trader! If you use it only you’ll lose your whole money! It’s 100%!

andyforex June 8, 2011 at 10:44 am

A very Interesting video

leveragefx June 8, 2011 at 11:27 am

@TheZApprentice Fibs are NEVER used BY THEMSELVES. We have statistical trend tools which compare each currency to all other major currencies. Thus if you get a move back to the fibonacci retracement levels or fib targets AND our statistical trend momentum shows is not? too strong (under 20 on our FX Trend Intensity tool) then it has a higher odds of stalling and usually reversing at these levels. If momentum is STRONG then we simply AVOID the trade as we feel its far higher risk.

leveragefx June 8, 2011 at 11:31 am

@Freddorick Nothing other than trading for 11 years and seeing the BIGGER the pip move the more likely the 50% fib (my favorite) is likely to act as support/resistance on the pullback. I also use the Fib profit targets MORE than the Fibs themselves and on most small moves? the fib targets do NOT work whatsoever. But if you see a 30-50 pip move then when price hits the 1.382 and 1.618 Fibonacci profit target it usually stalls and often reverses.

Freddorick June 8, 2011 at 12:28 pm

Whats the reason for Fibos working on 30+ Pips and not on 20?

TheZApprentice June 8, 2011 at 12:43 pm

I haven’t had much luck using fib analysis. Trying to pick tops and bottoms is hard and unreliable, imo. But good luck to those of you who get good at it.

forexstea June 8, 2011 at 1:06 pm

Helpful Video.Easy to understand and very clear.

forexstea June 8, 2011 at 1:35 pm

Great video.i find it very interesting and useful especially for the beginner using forex trading system.

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