Greg’s career began in Thomas Cook Financial services. He then moved over to the foreign exchange business to run a brand new business called the Virtual Trading Desk™. VTD was the first online real-time Forex trading platform, allowing customers to receive real-time quotes for huge foreign exchange transactions. His career quickly soared and at the age of 25, Greg was a Vice President at Mellon Financial Corporation, then a major Fortune 500 investment bank in the United States (not bad going for a man in his early twenties.) Here he was lucky enough to be working around some of the very best traders in the world – with exclusive access to high-powered Forex traders every single day.
2.How does the forex market differ from other markets?
Foreign exchange markets have always been something of a mystery to many people who regard the speed at which currency values fluctuate and the size of trades being executed as a risk that only major players in the banking sector can take on. Secker believes that the reverse is true, and points out that the latest economic crisis in the world’s stock markets is driving more small investors to try their hand at currency trading.
“In actual fact, it is illiquid markets like the stock markets that carry a larger proportion of risk,” he points out. “Those markets can jump around overnight, or be nudged around by one or two large investors, but the currency markets, by virtue of being open 24 hours and having so many more participants, are much more liquid and subject to more rules and identifiable signals.”
3. Why do you think forex in one of the best ways to create cash flow income?
Forex is an avenue open to all; anyone of any age can become a success if they apply themselves properly. Unlike most markets, not a lot of capital is required to get involved in Forex trading. Investing a relatively small degree of capital in property or stocks and bonds is impractical if not impossible. With Forex, however, it is not only easy to make enough additional income trading Forex but trading with small percentages of your account is also a prudent strategy to minimise possible losses.
4. What is the most important “rule” for our readers concerning forex?
The need to focus on the safety of a trade does not just apply to those at the top. Whether you are trading with millions of dollars of company funds, or a few thousand pounds of your own personal account, you have to ensure that the risk factor is as low as possible.
A good rule of thumb, and one that I personally recommend, is to never stake more than 1% of your account on any single trade. This applies to all accounts, no matter how big or small. Therefore, if you have a £10,000 account, you will only risk £100 at a time. Whilst to some this may seem an insignificant percentage, this type of low risk strategy is employed by some of the best traders across the globe.
5. Why do many people lose money in the forex markets?
Regardless of how much experience you’ve got, or how much money you’ve previously made, anyone is capable of making a bad call, and a key part of being a successful trader is learning how to recognise a mistake and having the conviction to shut down a trade that’s losing.
Interestingly, although trading is viewed as a male-dominated arena, women often make better traders than men, partly because of their ability to close down a losing trade before too much damage is done.
Men, on the other hand, tend to view winning and being right as a means to cement their masculinity, whereas having to cut their losses would be a sure sign of weakness. It is this male pride which makes it harder to admit defeat, causing them to back and even add to losing trades.
6.How do I manage risk?
(answer to q. 4) A good rule of thumb, and one that I personally recommend, is to never stake more than 1% of your account on any single trade. This applies to all accounts, no matter how big or small. Therefore, if you have a £10,000 account, you will only risk £100 at a time. Whilst to some this may seem an insignificant percentage, this type of low risk strategy is employed by some of the best traders across the globe.
7. What kind of forex trading strategy should I use?
Different strategies appeal to different people and the strategy you choose can largely depend on what fits around your daily routine.
Our programmes teach a range of strategies that have been designed by traders with over 25 years trading experience. These strategies are practiced live at the programme and can be traded immediately to start producing a secondary or replacement income.
- FX Income Generator™: A massive end of day trading strategy with huge returns, could be applied by putting in just 45 minutes each. An automated strategy powered by proprietary software. Profit potential 200-500 pips per week.
- FX Pivots™: One of our most frequently used trading strategies that works over and over again with a success rate of 85%. This is a powerful strategy that involves intraday setups with a higher success rate. Profit potential 200 – 500 pips per day.
- FX Sniper™: Very powerful for catching confirmed moves and most importantly it removes ALL the guesswork for quick returns. This is one of our traders favorites !! Profit potential 30 -100 pips per day.
- FX Snapback™: This is a range based strategy used primarily as a pip collector. This strategy was designed on our trading floor by our traders, for our traders.
Profit potential 150 – 200 pips per week
Für weitere Informationen zu den Forex Workshops wenden Sie sich bitte an:
Profitable Synergies GmbH. Tel.: : +49-711-28 44 66 90.