Get the Ultimate Swing Trading Software FREE. Learn Fibonacci Retracement and Candlestick Charting! Norman Hallett from The Disciplined Trader Intensive Program: It’s a new year mistake bug… but this time I’m correct. When you go ahead and take the offer for the test drive below, it will show that you get a 7-day test drive of the software… but you’re really going to get 10 days. I just called an confirmed… they are changing the copy on the page to reflect 10 days… and I’m hoping that’s because I complained that 7 days was not enough. I stated that Mac X was giving you his “Forex Deal Butler” Software free for your download.
That is NOT correct. He’s allowing you 10-day access to it. It’s a “test drive”. That was MY mistake, not his. I look over (and reject most of) so many offers and “freebees”, I let a fact about another thing I was reading effect my written word here.The fault is not that of Mac X making this generous offer (and a week’s access IS generous), but MINE in making the offer a actual “keep the software” offer. Sorry for those who felt “mis-stated” to. You were correct.
About 6 or 7 years ago, I met a young trader who had a trading process that was getting some attention… Including mine. Although his process was intriguing, he didn’t have enough of a track record of success at the time to put it in front of you. I gave him a few tips about presenting his material online and asked him to get back to me down the road. Well, two years ago, I saw him a private gathering in LA and he had come a long way… and somewhat of a celebrity in the room.
He contacted me last week and let me know he’d be offering total access, for 10 days, to his “software that serves up hot trades”… and today, it IS available (for a short time). You may have heard of MacX and his Insider Code. This impressive software apparently uses some of his IC technology to pick trades from monitoring as many as 20 pairs at once. The software is called “The Forex Deal Butler” and you can grab 10-day access free… Let me know what you think and I’ll give the feedback to others on this subscriber’s list.
This is what Brett Fogle, President of Options University says: If you’ve been wanting to make big gains regularly in your trading.. and I DON’T mean just the occasional winner… Or if you’ve been searching for a way to get exact entries and exits for big gains, then this may really interest you. Why? Because Mac X, a highly successful Forex trader, is going to give you a complimentary test drive of his brand-new software……and show you how to trade with it, too, with his top trader doing a LIVE demonstration! So go download it, and make sure you watch the webcast with Mac’s top trader making great trades online – live, where you have to prove it works in front of an audience.
It can’t get more honest than that. And it won’t cost you a cent. The software has a little secret he’s not revealing to everybody – but I got it from him first-hand. Here’s the deal… it’s simple to use, but it contains sophisticated new artificial intelligence, not available in any other trading software. No wonder – he “borrowed” some of the same programming used by hi-tech agencies like NASA and the labs at MIT. The result: This thing triggers trades and captures pips so well you just have to see it to believe it. So I’d advise you to download it now, before the webcast, for a no-charge test drive. You can’t get more honest than live trading, where anything can happen… and probably will. Don’t miss this unique Forex trading event!
As a currency trader it is very likely that you also keep an eye on the price of gold, because as you well know, there is often an inverse correlation between the strength of the U.S. Dollar and the price of gold.
Never has gold been in greater demand than it is at present. It is almost as if someone somewhere knows that something is going to happen to put the price of gold through the roof.
Do you remember the 1964 film – Goldfinger, Directed by Guy Hamilton?
Goldfinger’s film scheme, codenamed “Operation Grand Slam”, involves breaking into the U.S. Bullion Depository at Fort Knox, penetrating the main storage building with the high powered laser, and detonating a “dirty” nuclear weapon inside, thus contaminating the United States gold reserve and thereby dramatically increasing the value of his gold holdings.
If only Auric Goldfinger had known that all he needed to do was to undermine the strength of the U.S. Dollar, the fictitious multi-billionaire could most likely have succeeded with his task much more effectively by shorting the U.S. Dollar than was the case in the film.
Now it may be apparent to you that as a forex trader you can glean some information by watching gold prices, but did you know that many forex brokers now allow you to trade spot gold on the same platform as the one that you currently use for trading currencies? And most likely if your forex trading system or forex software works well for currencies, it will work surprisingly well for trading gold too.
When trading spot gold, like with forex trading, you are not required to take physical delivery of the gold.
So what do we know that might contribute to the future meteoric rise in the price of gold – or otherwise, for that matter!
In the film, James bond is – at one stage, strapped to a slab of gold with a laser beam cutting through that same golden slab and not too far from splitting the noble Mr Bond in two.
James asks: “Do you expect me to talk?”
Goldfinger replies with the all time classic line: “No, Mr. Bond. I expect you to die.”
Well trying to find out what gold may do next is almost as tricky a situation, but we do know some things for sure…Well almost for sure.
Of all the precious metals, gold is the most popular as an investment.
Investors generally buy gold as a hedge or safe haven against any economic, political, social or currency-based crises. These crises include investment market declines, currency failure, inflation, war and social unrest.
Investors also buy gold during times of a bull market in an attempt to gain financially.
So do we currently recognise any of these situations? I would suggest that we most definitely do.
But is gold a “good” investment? Well from a traders’ point of view, it really does not matter, so long as we can accurately predict what it will do next. But to answer that question I quote from an article in Wikipedia:
“In November 2005, Rick Munarriz of Motley Fool.com posed the question of which represented a better investment: a share of Google or an ounce of gold. The specific comparison between these two very different investments seems to have captured the imagination of many in the investment community and is serving to crystallize the broader debate.[26][27] At the time of writing, a share of Google’s stock and an ounce of gold were both near $700. On January 4, 2008 23:58 New York Time, it was reported that an ounce of gold outpaced the share price of Google by 30.77%, with gold closing at $859.19 per ounce and a share of Google closing at $657 on U.S. market exchanges. On January 24 2008, the gold price broke the $900 mark per ounce for the first time. The price of gold topped $1,000 an ounce for the first time ever on March 13, 2008 amid recession fears in the United States.[28] Google closed 2008 at $307.65 while gold closed the year at $866”.
Coincidentally, at the time of writing this article, gold is at $1036 and the most current google share price is $533.43, so I would conclude that for the present at least, gold can be a very attractive investment vehicle.
Trading on the foreign exchange markets or forex trading as it is more commonly known, is a complex business to say the least, and so it will come as no surprise that almost every trader will spend a high percentage of their time searching for anything that will provide an extra edge.
Fibonacci – or to give him his full and correct name Leonardo Pisano, was an Italian mathematician who lived in Pisa in the middle ages.
Amongst his many claims to fame he is credited with calculating “The Golden Ratio” and “The Fibonacci Series” by which the next number of the series is obtained by adding the last two numbers together…… 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, … and so on.
The thing that is quite surprising about the Fibonacci series is that this mathematical sequence naturally occurs so very often in nature, and in so many facets of life.
This may have something to do with why it is felt that Fibonacci has a part to play in helping us to trade on the foreign exchange.
Now stay with me here, because we need to take a look at the all important inverse ratio, because it is the use of the inverse ratio that we traders are most interested in.
If you divide one of the “Series” of numbers by the previous number in the series you will always get the answer 1.618 and if you divide a “Series” number by a “Series” number two along you will always get the answer 2.618 or put another way the inverse ratios of 0.618 and 0.38916 respectively.
Do you really need to know any of this? Well yes and no. Sometimes it puts things into perspective of you understand how and why they came to be used and it is of course extremely important to understand as much as possible of what is going on in the minds of the other market participants.
You will, if you have been trading for more than a short while, have come across the retracement levels of 38% and 62%. Guess where they were calculated from.
Yes, they are the rounded numbers derived from the Fibonacci series and portrayed as a percentage. Many traders freely state that when a retracement is underway, price will generally “turn” at one of these levels and if it does not, then it is no longer a retracement, it is a reversal.
Over time an extra level has been included which is 50% but as far as I can ascertain this is not a number that is attributed to our friend Leonardo.
So what is the truth of all of this?
It is true that Leonardo Pisano, was an Italian mathematician who lived in Pisa in the middle ages, and it is likely true that he was the first to document “The Golden Ratio” and “The Fibonacci Series”.
As to whether the Fibonacci levels will work when used as part of some forex trading systems or as a stand-alone trading aid is, I believe, largely dependent upon how popular the Fibonacci trading levels theory is at any given time.
If the price of a currency pair has reached 1.5670 from a low of 1.5282 and then price starts to retrace, and if the vast majority of traders who are active on this currency pair believe that the Fibonacci levels are a valuable trading aid, then price will most likely bounce at the 38% level of 1.5525 or at the 50% level or at the 62% level.
If on the other hand the majority of traders who are active on this currency pair believe that the Fibonacci levels have no trading aid value at all, then price will most likely settle at whatever is the current perceived market value of that pair.
Do I use Fibonacci levels?
Well to tell the truth, I do watch the levels, but only because so many traders believe that they work, and maybe this belief alone is enough to endorse their use as part of your forex systems.
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