The Double in a Day Forex trading Technique Version 1.0 Copyright 2012 Expert4x. ALL RIGHTS RESERVED. This ebook is intended for the receiver s personal use only. No part of this ebook may be reproduced or transmitted in any form whatsoever, electronic, or mechanical, including photocopying, recording, or by any informational storage or retrieval system without express permission from Expert4x. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 1 of 11
Double in a Day Forex Doubling your Forex account in a day is every Forex trader s dream. Many people don t realize how possible this really is. All you need is:- 1. The correct type of trading account 2. Knowledge of how many lots to use 3. Knowledge of how to add to your position 4. The ability to identify volatile reversals in the market 5. A gambling instinct that lets you know when you have stacked the odds in your favour. And what s more you can double your account in ONE day in ONE transaction. There is further discussion of the Double in a Day Club at the end of this book. Please read the disclaimer at the end of this ebook as this is a very high risk, high return strategy. However, using this concept, a trading account was taken from $ 7 822 to $ 78 538 in only 3 day and 3 successful trades. All that gain with an initial risk of only $ 1 500 on the first transaction. To view the Double in a Day concept and Recent Double in a Day results (click on the picture below) Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 2 of 11
1. The Correct trading Account Type This is the easy part you simply need an account that gives you 500:1 gearing. This allows you to place the correct amount of lots in your initial entry. It also allows you to add to your position without having margin limitations. Starting with a micro account with a very small balance is a good start for this type of trading method. For more information click here:- http://expert-4x.com/forex-broker-accounts-that-will-double-your-trading-account Most traders trading the Double in a Day technique open 2 accounts with the same broker. A trading account and a reserve account. They can then transfer money between the 2 accounts as needed. For example, if your trading capital is $ 3000 you would have $1 000 in your proper trading account used for the Double in a Day trades and keep the balance, $ 2 000, in the reserve account. Any gains can also be transferred to the reserve account. You are, of course, free to only use 1 account and you don t need to follow the above practice. Certain Forex traders in countries that do not allow highly geared Forex accounts (such as the US) may not be able to participate in this Forex trading technique. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 3 of 11
2. Calculating your initial lot size Remember that your goal is to double your account. This will normally take one transaction of 80 to 100 pips. So to calculate your required lots you need 3 bits of information. 1. Your account balance: Let s use $1000 as an example 2. The number of pips you are assuming for your trade: Let s use 100 pips in this example 3. The value per pip of the currency traded: Let s say this is 10c for a micro lot You simply divide $ 1000 by 100 pips to give an answer of $10 per pip. This is the amount you need to earn per pip. If each pip is worth 10c then you will need 100 micro lots. Check: 100 lots x 100 pips x 10c per pip = $1000 (You will have doubled your account) Because of the fact that we will be increasing our lots during the transaction after 50 pips (See the explanation below) you can reduce the initial number of lots to 80% of your answer. 100 lots x 80 % = 80 lots. So can start with 80 micro lots for a $ 1 000. We do not recommend stops larger than 20 pips for this type of trade, so your initial risk in this example will be 20 pips x 80 lots x 10c = $160 16% of your account. This gives you a 100 : 16 return of risk ratio. If you were trading a $1 000 account every time you would only need 1 in every 6 trades to be successful. 6 losses of $160 = $960 and 1 winner is $1 000. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 4 of 11
3 Adding to your lots When your transaction reaches halfway to the target (50 pips in the above example) you should increase your initial lots by 50%. So you would add 50% of 80 lots and that would be 40 lots. These lots will have the same target as the original lots. Now is also a good time to move place your stop to ensure a risk free deal. This is done by simply placing the stop for both transactions at 20% of the target length from the entry. So in the above example you would place the stop where your initial transaction has made a gain of 20% of the target. This means that if the price retraces to the 20% of target level the situation will be: A profit of 20 pips on the original transaction 80 lots x 20 pips x 10c = $160 and. A loss of 30 pips on the top-up transaction of 40 lots x 30 pips x 10c = - $120 A small gain of $40 for your efforts. But remember what you stand to gain if the target is reached. 80 lots x 100 pips x 10c = + $800 40 lots x 50 pips x 10c = + $200 You have doubled your account by making $1 000 on a $1 000 account with one transaction. Calculations for an 80% target based on a 20 pip stop For a $ 1 000 account an 80 pip target requires 100 initial lots and 50 top-up lots when the +40 pips level is reached. 100 lots x 80 pips x 10c = $800 50 lots x 40 pips x 10c = $ 200 Your initial risk will however be higher at 100 lots x 20 pips = $ 200 or 20% of the account. This means than 1 in 5 trades have to be successful to breakeven if the account balance is maintained at $1 000. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 5 of 11
4. The ability to identify volatile reversals in the market By this we mean that you need to find reversals (or the immediate start of a trend) that requires a small stop and has the momentum to run for 80 to 100 pips in your direction without a major retracement. As you must know, achieving that level of expertise is incredibly worthwhile. You will have developed a skill that will literally allow you to print money over an extended period of time for the rest of your life. You will be able to create a life style where you can trade where ever you want and how often you what. This means true freedom from any financial limitations. To achieve the level of expertise achieved by a trader who doubles his Forex account regularly below are some of the areas that have to be addressed. The points mentioned below are not the only ones, but they are the main ones. Using the correct type of Forex trading account Knowing how to manage and measure risk Knowing how to add or scale out of your position. Using fundamental information to determine the relative strength of currencies Using the best currency crosses based on technical and fundamental information Knowing how to apply and use probability theory to the Forex market Knowing when and where the likely turning points in the market will occur Having and developing the appropriate Forex trading psychological approach Developing your Forex psychic and intuitive abilities and creating luck Using Technical analysis to determine entries and exits Sources of Forex trading information Putting it all together in a competitive Live Forex trading environment On the day however, it boils down to finding the right currency and the right time of day (moment) to enter the transaction.and a bit of luck Your ability to do this is considerably enhanced if you are competent at trading using the following approaches: 1) Channel trading is the one system that gives a trader that chance of catching between 95% to 85% of a Forex trend. Channels appear quite regularly in the GBP crosses and are discussed in Barry Thornton s Long Candle Forex trading Course. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 6 of 11
Channel trading approaches 2) Dominant Angle trading is similar to channel trading but the concept is that non horizontal support and resistance follows the consistent angles for up and down movements over long periods of time (months). Knowing these angles helps determine potential turning points in the market. Again these are covered in Barry Thornton s Long Candle Forex Trading Course. Dominant angle approach 3) Knowing and applying technical analysis techniques to find turning points in the Forex market. These techniques are covered in courses such as the Simple-N-Easy Turning Points course, the Financial Turning Point course, the Pivot Plus technique and Good Vibrations technique. Using support and resistance, beats and vibration rates 4) Time of day factors (trading at the right moment) are very important when trading with smaller stops. Time of day factors are covered in the Simple-N-Easy Times course 5) And a few other factors such as trading with volume and using fundamental information etc. So there you have it all you need now is a. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 7 of 11
5. A gambling instinct that lets you know when you have stacked the odds in your favour. No matter what anybody tells you, Forex trading is not much different to gambling. The market is pretty random and there is no telling when a huge order or unexpected news can suddenly reverse a trend by 100 s of pips. Therefore you should only risk money that you can afford to lose and that will not cause you to lose any sleep. The Double in 1 day technique is a high risk, high return technique. It is not one where you should be risking excessive amounts of your capital on. It is a bit of a gambling technique. However if you get it right it can become a long term investment where you risk appropriate amounts of your capital to make a comfortable return. The main difference between Forex trading and gambling is that you can stack the odds in your favour with a good Forex trading education, trading experience and you can time your entries using high probability setups. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 8 of 11
Join the Double in a Day Club Expert4x will be starting a Double in a Day Club which will generate Double in a Day Alerts and have fortnightly webinar meetings. The Alerts will mainly take place at any time (6:00am to 12:00pm) during the European morning session and pending or market orders will be emailed to club members. The webinar meetings will be held to discuss results to date but also to cover educational aspects such a dominant angle, channel and other trading techniques. This is a High Risk / High return type of service and no success guarantees are given. Membership of the club is currently free. Please use this facility to become a Double in a day Club member. Double in a Day Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 9 of 11
Questions and Answers If you have any questions regarding the information supplied in this book please contact us using this facility Contact US Or better still place a comment on this posting. By doing this other traders will be able to see your question and the answer http://expert-4x.com/the-double-your-forex-account-in-a-day-currency-trading-technique Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 10 of 11
Forex Disclaimer Forex Disclaimer:- The information on online Forex trading presented on this website should not be regarded as Forex or currency trading advice. Currency trading and FX trading is a highly speculative way of making money and should not only be done with the information on this website only. Accordingly, we make no warranties or guarantees with respect to the correctness or validity of its content. Forex traders, swing traders and day traders making use of the online currency trading information presented do so at their own risk. The Forex market information provided herein does not take into account their Forex investing objectives, financial situation or needs of any particular person. This site is not intended to by used as the only source of currency trading information, Forex education or work from home opportunity. It is important and assumed that traders use sound trading principles when using the online Forex trading information on this currency trading site. Please use demo accounts where there is no investment required to test Forex Strategies. This includes trading common sense, sound money and risk management and full personal ownership of any trading decisions. This disclaimer applies to all services, including PayPal, Google, Click Here, Yahoo, Ebay, YouTube, Plimus and ClickBank promotions placed on the website. Investors should obtain individual financial advice based on their own particular circumstances before making any foreign currency investment decision U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don t trade with money you can t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC rule 4.41 hypothetical or simulated performance results have certain limitations. unlike an actual performance record, simulated results do not represent actual trading. also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Copyright 2012 Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 11 of 11