Forex 10 Succesful Trading-Candlesticks.pdf

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INTRODUCTORY MANUAL

FOR

The 10 Keys to Successful Trading

Technical Analysis Applications for the Currency Markets

Authored By: Jared F. Martinez

ForexTips.com

407-740-0900

mechanical, including photocopying, recording or by any information storage or retrieval systems, without the express

written permission from the author and publisher. All materials contained herein have been copyrighted. Reproduction will

be in violation of all Copyright Laws. Violators will be prosecuted.

While attempts have been made to verify the accuracy of information provided in this manual, neither the author nor the

publisher assumes responsibility for errors, inaccuracies or omissions.

There are no claims by the Author, Jared F. Martinez, or Market Traders Institute, Inc., ForexTips.com or any of its

directors, employees, and affiliated instructors that the trading strategies or methodologies in this manual will result in

profits and will not result in losses. This manual is not a guarantee to produce profits. Currency trading on the FOREX and

trading results in general vary from individual to individual and may not be suitable for everyone. All strategies,

techniques, methodologies and trades contained in this manual should not be construed as an invitation to enter and

trade in the market.

Each trader is responsible for his or her own actions. Your downloading of this manual confirms your agreement with the

Statement of Risk, c onstitutes your agreement to this disclaimer, confirms and exempts the author, publisher and

Instructors from any liabilities or litigation.

Market Traders Institute, Inc .

www.markettraders.com

I am your constant companion,

I am your greatest helper or your heaviest burden.

I will push you onward or drag you down to failure.

I am at your command.

Half of the tasks that you do you might just as well

Turn over to me and I will do them quickly and correctly.

I am easily managed; you must merely be firm with me.

Show me exactly how you want something done.

After a few lessons, I will do it automatically.

I am the servant of all great people

And the regret of all failures as well.

Those who are great, I have made great.

Those who are failures, I have made failures.

I am not a machine but I will work with all its precision

Plus the intelligence of a person.

Now you may run me for profit or you may run me for ruin.

It makes no difference to me.

Take me, train me, be firm with me and

I will lay the world at your feet.

Be easy with me and I will destroy you.

I am called Habit!

Author Unknown

INTRODUCTORY MANUAL

TABLE OF CONTENTS

Chapter 1: What is the FOREX?

Chapter 2: A Trader’s Vocabulary.

Chapter 3: Reading Candlestick Charts.

Chapter 4: Types of Orders.

Chapter 5: Introduction to Everest Charting Software. (Omitted)

Chapter 6: The 10 Keys to Successful Trading. (Omitted)

Key 1: Equity Management

Key 2: Buy and Sell Signals

Key 3: Bulls vs. Bears – Introduction to Highs, Lows, Support

and Resistance

Key 4: Price Swings

Key 5: Fibonacci Ratios

Key 6: Trends and Trendlines

Key 7: Trading Trends with Fibonacci Ratios

Key 8: Trading Trend Reversals or “The King’s Crown”

Key 9: Trading Consolidation with Fundamental

Announcements

Key 10: Protective Stop Losses and Murphy’s Law in Trading

Chapter 7: Let’s Get Started! (Omitted)

Chapter 8: 3-Phase Post Training. (Omitted)

Chapter 9: DealBook FX Dealing Station Software Manual. (Omitted)

Chapter 10: Recommended Reading. (Omitted)

A Traders Mission And Goal

It is the mission of the trader to become a financially successful long-term

trader. This can be achieved when the trader adopts and accepts The 10 Keys

of Successful Trading . The trader must commit to live by the three disciplines

that create the successful trader.

1. The trader must believe in The 10 Keys to Successful

Trading and merge them into his personality. His

success is dependent on creating a trading plan, and

maintaining the discipline to TRADE THE PLAN!

2. The trader must commit himself to continued education

and learn as much as he can about technical analysis and

the psychology of successful trading. He must use logic,

and not his emotions, in trading. The trader must learn to

trade in control, not out of control!

3. The trader must map out a sound plan of equity

management to insure a return on his investment. A

successful plan is to trade no more than 20% of a margin

account and risk no more than 5 to 10% of that account on

any single trade.

Levels Of A Trader

LEVEL ONE: Beginner Trader - To study and paper trade for a

minimum of one month with imaginary money, gaining the

experience required to establish a track record of profitable

performance.

LEVEL TWO: Advanced Beginner - To trade one or two lots with

real money, working through emotions and establishing a track

record of making money.

LEVEL THREE: Competent Trader - To trade in control with

equity management, achieving a financial return.

LEVEL FOUR: Proficient Trader - To trade based on my belief,

education, and experience and achieves a financial return.

LEVEL FIVE: Expert Trader - To mechanically execute profitable

trades with no emotion.

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