Simple Daily Chart Forex Trading Method
By J. Geruto
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About this ebook
Simple Daily Chart Stock Trading Method is meant to expedite your learning curve which can sometimes be long and costly. You can Google this or that information however it would take you many years to learn what I am going to tell you in this book before you could invest any of your hard earned real money in the live markets and have a chance making real money.
This book is easy to read, and most importantly will be effective in helping a brand new trader understand what sort of foundation will be necessary to succeed as a financial market trader. New traders come into this business with a huge ego and a feeling of invincibility and think they are going to beat the market, 97% fail, don’t be that trader.
What you will learn in Simple Daily Chart Forex Trading Method will fast track your knowledge of what you need to know to get started learning. You can perhaps go from knowing 0 to trading and making real money in the live markets in as little as 30 days to a couple of months if you do what it says in this book and only look at daily charts to work from as a beginner. This time frame is the easiest to learn as a beginner and may well take you less or more time depending on how fast you grasp the basic principles of this book and how fast you can employ them in a live market environment.
Do you want to make money right away in the live market or waste time and perhaps A LOT OF MONEY on doing things the wrong way from the start the cost of which can be steep and be an account killer and no one wants that right? Learn to use a daily chart and you will be on your way to becoming a financially successful and consistently profitable trader right from the start.
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Simple Daily Chart Forex Trading Method - J. Geruto
Simple Daily Chart Forex Trading Method
10 steps to building a winning money making Forex trading method
By J. Geruto
Copyright 2017
Who I wrote this book for
If you are a brand new trader who wants to trade a daily chart and make a lot of money from trading the financial markets this book is for you, it details what new traders need to do to be successful trading from the daily chart time frame. Here is a tip I can give right here right now, smart money does not go below the daily chart time frames to work from and you shouldn’t either.
To make a living as a professional investor and trader and doing it intraday you will need to be trading a very large risk capital account. I strongly advise against day trading unless you have a very large capital account, have been trading for 3-5 years and can trade size. What do I mean by a large capital account size? I mean one hundred thousand or more dollars to start; this is really the only way you could make any real money by trading intraday.
The one thing I can tell you that works is keep it simple and it will be. I strictly am a position trader now, I made some money day trading and got out, I don’t day trade anymore and I don’t recommend you do either, I know you won’t listen to me at least for now and you will day trade so just learn to trade the right way from the start if that’s what you want to do.
There is really no easy way to do it honestly, there is a certain progression of steps all new traders must go through to be able to drive their own money train to the bank on a daily basis which I have detailed in the book. The progression of steps is to learn money management, gain a hold on your own psychology, learn to read the price charts of the instruments you choose to work in and finally learn how to quantify real supply and demand in the live market to make your trade decisions from.
You will also need to compose a rule based plan which should be based on the type of trading you wish to do as well as what time frame you wish to do it on. You should plan to learn to journal your market activity both on demo and in the live market, there are plenty of journal templates on line that you can download and use as a baseline for your own, and then once you are prepared the right way you can add or delete information from your journal as needed.
I also give you some of the most successful traits of all traders and investors who have made it to the professional elite level. If you wish to make it into this elite club and become a consistently profitable trader and have the knowledge and skills to have long term financial success I encourage you to do whatever it takes to do so, we all did.
I wrote this book for brand new traders and investors who want to get into Forex trading and investing who have no experience that need broad basic knowledge and want to learn to do it the right way the first time so they can have a high probability of making money immediately in the live markets trading and investing real money.
What you will learn in Simple Daily Chart Forex Trading Method will fast track your knowledge of what you need to know to get started learning. You can perhaps go from knowing 0 to trading and making real money in the live markets in as little as 30 days to a couple of months if you do what it says in this book and only look at daily charts to work from. This time frame is not etched in stone but it is the easiest to learn as a beginner and may well take you less or more time depending on how fast you grasp the basic principles of this book and how fast you can employ them in a live market environment.
If you would like to learn to trade and invest in the markets (any markets) and trade and invest in them the right way from the very start of your trading and investing education/career then I highly recommend you do what it says in Simple Daily Chart Forex Trading Method. You should read every single page in this book, multiple times if need be.
Simple Daily Chart Forex Trading Method is meant to expedite your learning curve which can sometimes be long and costly. I spent 5 years teaching myself and learning how to trade and invest. Sure, you can Google this or that information however it would take you many years to learn what I am going to tell you in this book before you could invest any of your hard earned real money in the live markets and have a chance making real money. Simple Daily Chart Forex Trading Method is meant to give you the basic information you need to make a decision as to whether to get into this business or not, you’ll know after having read 2-3 pages if this business is for you or not.
Making some money every day in the live market is every investor and trader's goal or should be, guess what, I do not trade all day to get mine. When I was day trading the futures I was done with my business in the markets most days before the regular market hours even opened, I only traded the open of crude, gold and natural gas however if I was in a position on open of RTH open then so be it. I don't day trade at all anymore and I don't recommend you do either, find an asset to trade that suits your personality, then learn it completely and stick with it.
Seriously though, I don't know one professional trader who trades all day every day. It’s the open and maaaaybe the close of RTH between 330pm EST and 4pm EST on any given day, THAT'S IT, it is all you need. You also don't have always "be in" the market, it's not smart and will only cause your account pain.
Now that I have my own Nano hedge fund I look at charts for maybe 15 minutes a day and I am done for the day, can you get your head around working for 15 minutes a day? You also only really need to look at charts to review your open positions if you are only using a daily chart. Your rule based plan criteria should have already determined where your stop loss and profit targets are so there is nothing you should have to do.
Am I saying trading and investing on a daily chart is right for you, maybe not, however what I am saying is that you should do your own due diligence and then judge for yourself if you want to learn to trade and invest properly. I think you will find that what you will learn along your trading education journey is that you will find what works for you is going to be a combination of different things you have learned along the way, I know it was for me.
Do you want to make money right away in the live market or waste time and perhaps A LOT OF MONEY on doing things the wrong way from the start the cost of which can be steep and be an account killer and no one wants that right?
I have written this book series in a way I feel the progression of information should be learned to be able to go into the live markets with confidence and no fear. The principles in Simple Daily Chart Forex Trading Method can be used in any market on any time frame it does not matter. This is what makes the information so valuable and I give it to you right here in this book and in one place at one time, you’re welcome!
The core of what is presented in Simple Daily Chart Forex Trading Method is how all markets work which is on the principle of supply and demand. There is no mention of anything other than what needs to be learned from the start of your trading/investing career; it is learning supply and demand investing and trading and price action, that’s what you need to focus on from the start if you want to be successful right away.
A lot of trading books teach a top down or a bottom up approach how about the right way approach and doing it the right way from day one. Mostly all of the trading books teach this business not only wrong but they teach it unrealistically, why would you want to learn this way?
If you are thinking that trading and investing in the live market with your hard earned real money is going to be easy and you are going to make millions of dollars doing it you are in for a rude and very expensive awakening. Don't get me wrong you can and will make some money every day in the live markets perhaps LOTS OF IT if you do what it says in Simple Daily Chart Forex Trading Method. Nothing in the market is guaranteed, it's about putting all the probabilities of having a positive outcome as a market participant in your favor that helps you win, let’s start doing that right now in this book shall we!
This is not a get rich quick business. You can become well off, have financial security and freedom to do anything you want in this business and you can do it anywhere in the world. It takes time and patience though and it involves a lot of waiting around till the market comes to you and gives you what you want. Yes that's right, you can actually make the market do exactly what you want and I will tell you how.
Having spent a lot of time on studying and learning trading, reading charts and indicators when all I needed to look at was right there on the chart in front of my eyes all the time every day all day, price action. It does not lie, it cannot, and it does precisely the opposite it tells you where the supply and demand in the market is and thus where to make your move. If you are using a daily chart you don’t need to look at too much information.
I spent days, nights, weekends and holidays on studying the aspects of trading that I thought, and