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Maxwell Fox Ebook On Chart Patterns

I met Maxwell Fox in Fort Lauderdale, Florida, at the first seminar I ever did. He is the best trading friend I have ever had he has helped me overcome plot difficulties and name characters (including Harry) and he was the first person to read the entire manuscript. I am a better person for knowing Max. He leaves people better than he found them. He is also the single greatest trader I've ever taught, hands down. He is disciplined, he is dedicated to the science of backtesting, and he wrote the funniest ebook on chart patterns you've ever seen. You can get that ebook at http www.HarryBanes.com.

You can trade for a living Really You can

Revised editions of ebooks that I have written over the years. Each of them has been downloaded from my website tens of thousands of times. I've dusted them off, re-written them, added new material all with the intent to share with you what has helped me to become a successful trader.

About Pl Trading Ratios

The Forex Roulette method in this eBook is an example of P L (there are other technique variations that I teach here & in my other eBooks that are also For each trading technique presented in this eBook (and my other ones) it should be obvious which of the above two methods is implied to be used. Though I usually don't specify, for most trading techniques you could adapt the combination of using both P L & P> L and this should work advantageously for you for most styles of trading.

New Broker Instructions

In my previous eBooks I recommend that you use either FXCM or RefcoFX as your Forex trading broker. As I've stated in Forex Scalping that recommendation isn't because I consider them to be the best brokers overall, but simply because they are the best brokers, in my opinion, to use for a new trader. Other reasons aside, the primary reason that I suggested you use them is because their trading platform is so easy to use. A newbie trader with limited understanding should relatively easily figure out how to place market orders, entry orders, stops and limits. Other brokers' trading platforms are more complicated and far less intuitive for implementation of trades. When you are learning about Forex trading it is better to stay with the simpler to use brokers (FXCM & RefcoFX) as you don't need to clutter your mind with the mental gymnastics needed with the more complicated brokers. But by the time you are reading this eBook, Forex Sailing, I would now consider you to be somewhat more...

Use With Forex Freedom

Can you combine scalping techniques with the exponential growth plan presented in the eBook Forex Freedom Absolutely Most scalping techniques initially rely upon a 10 pip stop (elaborated upon later in this eBook) however the plan as laid out in Forex Freedom assumes you are using 20 pip stops. As scalping is somewhat riskier don't double your lots, but just follow along with the suggested amount of lots as described in that eBook.

Basic Strategy Variation

It is not my objective in this eBook to teach you everything about how to use Fibs, but let me explain it very briefly here, and later in this eBook I will explain in more detail. I'm not going to go in great detail here. are truly powerful to use to determine with a very high probability where prices will turn around, and can be used to enter the market very close to the lowest price that it'll go, and exit the market very close to the top price. This is truly an amazing technique, and I'd say that it is very worthwhile learning as a FOREX trader. It is especially powerful when you learn advanced Fib techniques (Convergences and Gartley's - dealt with in my other eBooks). I will cover some more Fib techniques later in this eBook. Well here is the cool part (remember how in the preface of this eBook I said I tend to notice interesting things most people miss I bet you've never thought of this.) This part is for all of you reading this who understand Fibs. What's the standard extension...

Practice Makes Wisdom

By the time you finish reading this eBook you'll likely feel confident that you can successfully scalp trade. Chances are that you'll probably be able to, but just because you can do something doesn't mean you should do something. You really do need to practice to gain proficiency as a scalp trader. You can read this entire eBook, study all the trading rules and trading set ups presented, however there is simply something that I can't teach you that you can only learn by your own practicing. Being able to read the charts in real time and being able to decipher & to make the decision whether to trade or exit a trade requires what can seem like intuition. Once you are skilled at scalping you almost appear to be psychic to someone sitting next to you. This eBook will teach you the knowledge you need to know to be able to able to scalp trade the Forex market, but, as any athlete can tell you, you need to practice to develop proficiency. Many people have knowledge, but few people have...

Basic Strategy Variation 4 Skimpy version of

There is one important condition to using this variation. Point C must have been at least a third of the way back down from point B. This is important otherwise you stand a much higher chance of getting stopped out. You don't have to do any math, to determine this. As long as it visually looks to have retraced a third of the way back down or more then you can implement this variation. The reasoning for this pertains to Fibonacci theory. It's important that it at least has bounced the 38 Fib level, and if it's gone at least a third of the way down it's good enough. If you don't understand Fibonacci theory then know that it's explained later in this eBook. If your wave didn't pull back at least a third then keep your stop at point A, as in Basic Strategy Variation 1. That's all there is to the FOREX Surfing basic techniques. Simple but powerful. In this eBook we will look at specific applications of the above techniques, and variations to use them to capture your pips. Before we move...

Trading Rules About Profits

Before we move on to the next part of this eBook, where we'll look at specific applications of the above variations, let's first discuss profits. Please be sure to reread what I wrote about equity management earlier in this eBook. Above all else, never trade money you can't afford to lose. Many of you, especially those of you new to trading, may think that this is not sexy. Of course you want to catch huge moves (don't we all). Don't worry I'll cover some huge moves techniques in this eBook, however most are little deals. The aim of this eBook is to teach you to CONSISTENTLY catch pips, and to make good profits. The cover of this eBook states that you can catch 200 to 3,000 multiple times per week. Using the techniques of this eBook you could do this in several ways. If you trade one regular lot for say 20 pips then that would be 200 (for many currency pairs), if you trade 15 lots (assuming you can afford to do so) then you'd have 3,000. In this eBook I'll also show you how to catch...

Reason For Multiple Brokers

World news is something you can't anticipate, so just forget about it. What you can control is whether you are actively trading through significant Fundamental Announcements. If you are position trading, as is taught in this eBook, then you will inevitably sail through some stormy FAs. Most FAs will not capsize your trade (it may rock the boat), but there are occasional big FAs that can be dangerous. If you are Sailing, using the techniques of this eBook, then you'll often have trades in the market for long periods of times (days, weeks, sometimes even months). It is reassuring to know that while your trades will sail through the stormy seas of Fundamental Announcements, weekends, and unforeseen uncertainties that your trade will remain relatively safe. This is not to say that you shouldn't use the other brokers for long-term trades, but in some circumstances ACM will be the preferred broker.

Scalpable Currency Pairs EURUSD

Why only trade these currency pairs Allow me to explain. Later in this eBook I will elaborate upon stops used in these trading methods, but I'll simply state here that generally you will initially be using 10 pip stops. What this really means is that the market only has to move 10 pips less your spread against you to get you stopped out. EUR USD & EUR GBP has a 3 pip spread thus the market needs to only move 7 pips against your direction from point of entry for you to lose your full 10 pips. Thus the odds of you scoring a 10 pip gain are actually 30 against you from the start. The other currency pairs listed above have a 4 pip spread, thus the market needs only go 6 pips against you on a 10 pip stop for you to lose out (40 against you from the start). The currency pairs with a 5 pip spread can still be traded in special circumstances, but in general it is best to shy away from these for what should now be obvious reasons. All the other currency pairs with higher spreads are...

Overview Of The Techniques

Here is a general overview of what scalping is like. I'll talk in generalities here but will certainly go into specifics later in this eBook. This section is just to give you a taste for how a typical trade goes. Alternately, if you believe that the market may retrace a little but is likely to resume in a micro trend then you might choose to remain in the trade, trailing your stops as taught in Forex Surfing and either exiting by getting stopped out for a nice profit or by scalping your exit (explained later in this eBook) at the appropriate time for an even greater profit. The advantage of letting your trade run (when appropriate) is that you can potentially score some very significant pips in a single session.

Opportunity 1 Trend Line Bounces

Patience is a virtue in conjunction with the Surfing strategy. What you want to do is to wait until you have a confirmation that the market has bounced the trend line, and then look to catch a suitable wave to Surf. Later in this eBook we will review Reversal Signals to help you identify such reversals. Once you have your confirmation that the market is beginning to trend in the new direction (bounced the trend line) then employ one of the three variations you learned at the beginning of the eBook to When you are new to trading the FOREX Surfing strategy then it is best for you to simply catch your 20 or so pips and then exit your trade for a nice and easy profit. Once you have a little more experience then you might want to consider letting your trade ride for bigger profits (going for 100 pips to hundreds), or even pyramid your gains. We'll cover both of these topics a little later in the eBook.

Opportunity 2 Trading Session Moves

What you are looking for is a Micro Trend to establish itself during the early part of the session. The trend may be moving fast or slow. Look for a suitable wave to jump in on (one of the three Variations you learned early in this eBook). Go for small pips (say 20 pips) once, or even twice, during this trading session to make your profits and get out. With this strategy it is imperatively important to remember Trading Rule 2, to be aware of when Fundamental Announcements are expected to occur and to not be using this trading method at that time. Use the techniques you learned in eBook 1 Explosive Profits to capitalize on Fundamental Announcements.

Opportunity 3 After Fa Duds

Many of you who have been trading the strategy I taught in eBook 1 Explosive Profits have sent me many emails telling me how happy you are with that system, as it has made you a lot of money. However, as most of you know from experience, a lot of your trading attempts result in a dud. About 10 to 15 minutes after the Fundamental Announcement occurred (after a dud occurred) you'll frequently notice that the prices have already begun to trend in a particular direction. As long as there have been a couple of waves making higher highs and higher lows (for an up trend - reverse of course for a down trend) then look to enter on a wave using one of the three entry variations taught near the beginning of this eBook. Some times the trend will be moving fast (steep), or slow. After you have seen many such Micro Trends then you will begin to get a feel for how well this particular move may move. If it is moving slow then go for 20 (or so) pips. If you find that it is moving strongly then you can...

How To Trade The Forex Like A Pro In One Hour

And why the subtitle, HOW TO TRADE THE FOREX LIKE A PRO IN ONE HOUR Because, it will probably only take you about one hour to digest the essentials of this ebook - especially the parts on trading technique - and then you're well on your way to trading the forex like a pro.

Opportunity 4 Fa Explosions After Surf

Right after a price explosion resulting from a Fundamental News release (read the eBook Explosive Profits, included with this package, to learn how to find these opportunities) there is usually a moment lasting typically just a few minutes where the price has dropped back a bit. Now you have to act fast to catch this because it can quickly shoot up. Now when you look at the next two charts, not only will you see the opportunity that is discussed in this section, you should also see that there are many other waves you could catch. Later in this eBook I'll teach you how to Compound your Gains to pull say 200+ pips out of these kinds of moves, even if it continues for less than 100 pips.

Friendly Trend Fractals

In earlier eBooks I stressed the importance of looking at the bigger perspective and then narrowing your vision inwards by first looking at the bigger charts then progressively looking at smaller charts. Here I will elaborate upon the reasoning for this. I am not going to do an in-depth review of how to find your trendlines here in this eBook as this topic was adequately covered in the prerequisite eBooks that you should have read by now. What is important to keep in mind is identifying trendline breaks and trend reversal patterns as was also discussed in those eBooks, as these are crucial to your success. Just looking at this Monthly chart you should see the beautiful (long term) trading opportunities that were available. Notice how this chart looks just like the smaller scale charts I've been showing you in my previous eBooks - had I not told you the scale you wouldn't know whether these are Monthly, Daily, Hourly or even 5 Minute charts as the behavior of the markets in all time...

Previous Support Resistance

That showed that the trend tried to hold the support, but the market broke through that support. Then that support line acted as resistance twice an example of how a previous support line often acts as a swing resistance in a trend reversal. Notice also that the second time it bounced that original green line that it ALSO bounced the new downwards resisting trendline (blue line). This is an example of convergence of multiple technical analysis reasons. Later after the market broke out of that second trend (notice the diamond reversal at the bottom - explained later in this eBook) the blue resistance line offered some support.

Opportunity 8 Inside Consolidations

Later in this eBook is a whole section devoted to reversal signals and you'll learn about trend line breaks, King's Crowns, and double tops bottoms. You might want to pause reading here, go read that section, and then continue reading here as I won't review those topics, but will simply speak of them assuming you understand those terms. What you should now see is some sort of reversal signal as taught later in this eBook. Once you've got a nice reversal signal and you are confident that prices will now move back down then look for a suitable wave to surf as prices move towards the other end of the consolidation channel.

Opportunity 9 Trading Fibonacci

You're now going to get a little crash course in how to trade fibonacci swings. I'm going to keep this as simple as possible here, but believe me, here you'll learn basically everything that others charge hundreds of dollars (even thousands) to teach. The only difference is that they keep going over many examples to make sure you understand everything, as well as show you some variations. I however won't do that. I'll just spill the beans here for you, and you reread this as many times as necessary for you to grasp it. It's not the purpose of this eBook to teach you Fibs, but think of this as a value added teaching that works well with Surfing, and I'm saving you hundreds of dollars.

Specialized Fibonacci Observances

This section will not cover Fibonacci theory for that go read the section explaining Fibonacci in my eBook Forex Surfing (I also intend to one day get around to writing a detailed eBook teaching just about everything I know about Fibonacci including its advanced concepts). In this section I assume you are already familiar with these concepts so I won't review much. In an uptrend (just reverse everything I say for a down trend) the market typically moves in waves making progressively higher highs and higher lows. When a retracement occurs, according to Fibonacci theory, the price will typically reach to be around one of the four main retracement levels 38 , 50 , 62 , or 79 . Because the swings that often occur on a scalping perspective scale are so small I have simplified the ratios to zones conforming to my own theories based on my observations (go ahead, call it the Borowski Swings theory P ). These zones are simply thirds of the retracement range (amplitude or height of the swing),...

Picking Tops Bottoms Part B

So above you've learned some of the elements to watch for to be able to pick at the tops & bottoms. These are some of the biggest & most important ones to be aware of, but there are certainly more (by studying your charts you'll come to discover some of the minor things to watch for). Now what you've learned above is the basis, the foundation, of just about everything else you've still got to learn in this eBook.

Fibonacci Variation

Your ability to do a Compound Gain will depend on how much money you have in your margin account. Remember that brokers will allow you to have open lots as long as you have sufficient funds in your account. Many brokers offer a 200 1 ratio, but we'll look at a 100 1 ratio. This is well explained in the FOREX Freedom eBook. So, assuming a 100 1 ratio, to trade one lot you need over 1,000 in your margin account minimum. Realistically you should have more because let's say you have 1,100 then if the market moves down 11 pips the broker will automatically stop you out regardless of what you set your stop at. So you should have significantly more than just 1,000 to trade one lot ( 500 if your broker gives you 200 1 ratio). Same thing with a mini account, except that everything in a mini account is just one-tenth the size. So if you were to trade two lots (one deal, or two separate trades) then you would need 2,000 set aside in your margin account ( 200 One more thing. this isn't a quick...

Modified Slanted Channel Surf Zones

In the eBook Forex Surfing you learned about the concept called Channel Surf Zones. There is a more advanced adaptation of this technique that I also developed, however I thought it might be too much to include in that eBook as I didn't want to confuse you - there was more than enough for you to learn in that eBook without adding more to overwhelm you. Well, needless to say I've since decided to share some more about that technique for you to benefit from. You might want to reread the section explaining Channel Surf Zones in the eBook Forex Surfing to get a refresher before you continue reading this.

Creative Combinations

In this eBook I didn't exhaust all possible variations of how to use these scalping techniques, which would result in an impossibly large book. I pretty much covered the most common and significant techniques but encourage you to expand upon what I've shown you by developing your own variations. This eBook only shares a small portion of some of the strategies I've learned or developed. I don't have the time to write a complete brain-dump of everything in my mind (I don't aspire to write an encyclopedia), nor do I believe sharing everything would be beneficial to you either (in fact it would probably confuse or even overwhelm you). Over time, as you grow in your experience, you'll see correlations and perceive a depth that I don't even know how to explain to you. Perhaps the best way to describe it is that there is an almost intuitive understanding of how everything works - not meaning to sound mystical or anything but there is a kind of Zen quality to it. I hope for you to one day get...

Fundamental Announcements

**1** It is important to be aware of when they are happening so that you can avoid getting nuked by them as explained earlier in the eBook. **2** A couple of the strategies in this eBook capitalize on the price moves created by Fundamental Announcements. By knowing how to find potentially good opportunities you can literally be waiting for the precious moments after a FA news release and score

Kiss Keep It Simple Smarty

In much the same way when you are learning all the concepts taught in this eBook a trade isn't just a trade there are many complexities and variables to be aware of. After you've integrated the concepts and really understand them then a trade will be just a trade. What may now seem complex will become simple, and you'll find that all this is really quite easy. Just because I can teach you about some of the other indicators & technical analysis methods notice that I didn't (not yet anyhow, I do plan to write other eBooks). This is because I opted to show you what, in my opinion works. Period. (The other stuff I'll end up showing you over time will add to what you are doing, but just stick with a few of your favorite techniques). Though learning all the stuff you are discovering in my eBooks might understandably seem complex in the beginning I am sure that over time it'll settle into your mind to be quite simple. In the mean time take everything at a comfortable pace for yourself.

Grea T Minds Series

A Project Gutenberg of Australia eBook eBook No. 03 0 0071h.html This eBook was produced by Col Choat colc gutenberg.net.au Project Gutenberg of Australia eBooks are created from printed editions which are in the public domain in Australia, unless a copyright notice is included. We do NOT keep any eBooks in compliance with a particular paper edition. To contact Project Gutenberg of Australia go to http gutenberg.net.au Further information on contacting Project Gutenberg, the legal small print and other information about this eBook may be found at the end of this file. ** Welcome To The World of Free Plain Vanilla Electronic Books ** ** eBooks Readable By Both Humans and By Computers, Since 1971 ** ***** These eBooks Are Prepared By Thousands of Volunteers *****

FOREX Scalping

Tiny Trades For Terrific Profits eBook By Robert Borowski 2005 Evergreen Forex Inc. Read Legal Info & Disclaimers at end of Document This eBook has been formatted for easier on-screen reading I dedicate this eBook to Brian. Little did I expect when small coincidences introduced us that you would become such a huge part of my life. You are far more than my business partner and best friend -you are a kindred spirit. You have enriched my life and exponentially added to my own boundless enthusiasm. I cannot express my immense gratitude for getting to know you, and can't fathom the marvelous

Pmb 113

Why is this Small Print statement here You know lawyers. They tell us you might sue us if there is something wrong with your copy of this eBook, even if you got it for free from someone other than us, and even if what's wrong is not our fault. So, among other things, this Small Print statement disclaims most of our liability to you. It also tells you how you may distribute copies of this eBook if you want to. *BEFORE * YOU USE OR READ THIS eBook By using or reading any part of this PROJECT GUTENBERG-tm eBook, you indicate that you understand, agree to and accept this Small Print statement. If you do not, you can receive a refund of the money (if any) you paid for this eBook by sending a request within 30 days of receiving it to the person you got it from. If you received this eBook on a physical medium (such as a disk), you must return it with your request. ABOUT PROJECT GUTENBERG-TM eBookS This PROJECT GUTENBERG-tm eBook is in the public domain in Australia Among other things, this...

Prerequisites

This eBook is assumes that you have already read the following prerequisite eBooks Many of the methodologies taught in this eBook are extensions, or make use of, concepts discussed in those other eBooks. If you have not already read those eBooks then please stop now and read those before continuing with

Indemnity

EBook, 2 alteration, modification, or addition to the eBook, or 3 any Defect. You may distribute copies of this eBook electronically, or by disk, book or any other medium if you either delete this Small Print and all other references to Project Gutenberg, or 1 Only give exact copies of it. Among other things, this requires that you do not remove, alter or modify the eBook or this small print statement. You may however, if you wish, distribute this eBook in machine readable binary, compressed, mark-up, or proprietary form, including any form resulting from conversion by word processing or hypertext software, but only so long as *EITHER* * The eBook, when displayed, is clearly readable, and does *not* contain characters other than those intended by the author of the work, although tilde ( ), asterisk (*) and underline (_) characters may be used to convey punctuation intended by the author, and additional characters may be used to indicate hypertext links OR * The eBook may be readily...

Basic Basics

Now, if you don't have at least 2,000 to open a regular FOREX trading account, or can't afford potential 10 pip losses, then you may want to consider a mini account. Most online brokers offer mini trading accounts that you can open for as little as 300. With a mini account you are trading lot sizes one-tenth of a regular lot (10,000 vs. 100,000), with risk being one-tenth as well as your rewards one-tenth. Trading a mini account means that 1 pip equals roughly 1. If this is the only way you can afford to start trading then open a mini account. Remember, as your account quickly grows you can trade multiple mini lots, and trading ten mini lots is the same as trading one regular lot. You could open a mini account with say 300 and experience huge gains in your first month, quickly building your account to be able to trade larger lot sizes. Read the eBook FOREX Freedom to learn more about how to do this.

Equity Management

This concept is the key to being an overall successful trader, and is what ultimately separates unsuccessful traders from the successful ones. If you know proper equity management principles, and, more importantly, IMPLIMENT ( ) those principles, then you too can be one of the elite traders that are ***consistently*** profitable, making some excellent 'cha-ching'. I'll have some comments along these lines in the next pack I produce titled 10 to 30 Monthly ROI, but here I'll stick to what is necessary to know for the techniques presented here in this eBook, Forex Sailing. The strategies presented in this eBook are drastically different than what was presented in Forex Surfing (though there are many similarities in techniques). The difference is primarily in the scope or size of the trades sought after. In Forex Surfing most of the strategies required tiny stops of say 20 pips, however in Forex Sailing most of the strategies require significantly larger stops of 100 pips or more. Don't...

Welcome

Is it possible to score hundreds or even thousands of dollars (euro, pounds, yen, whatever) of profits in just a few minutes in the Forex markets Yes it is In this eBook we explore the fun & wildly profitable technique of scalping in the Forex markets. It is amazingly simple to learn and you'll probably be able to proficiently start using these ideas today

Candles And Charts

Candles can represent virtually any time frame you want. For the purpose of this eBook we will simply focus on Daily, Hourly, 5 minute and 1 minute candles. This means, for example on an Hourly candle, that it will show you the significant data of what the price action was during that single hour. A single candle can show you what was the opening price at the start of that time period, what was the highest price reached, the lowest price reached, and the closing price at the end of that time period.

Overnight Interest

In my previous eBooks I typically omitted the topic of overnight interest because most of the trades I taught you were day trades meaning that you entered and exited the trade all in the same day. Because Sailing involves trades that last for multiple days (hopefully weeks or even months) then you should now be made aware of what overnight interest is and how it affects you.

Strategy

Strategy 10 was the first ebook I ever wrote. And it's still the most popular. I wrote it because I was worried that too many traders were trying to find too many 100-pip trades. You might have noticed this already, but in case you haven't, I'll repeat it there are not many 100-pip trades just waiting for you.

Warning

Before we proceed any further I want you to be aware that these methods can be High-Risk High-Reward'. I don't want to be a wet rag on your learning enthusiasm but I've placed a Warning for you to read. Please consider the warning which I am stating for your protection, but don't let it scare you off from reading the rest of this eBook and from attempting these techniques. Yes, there are some risks (as with any trading system), but for the most part you'll find that the risks are easy to swallow and the profits gained by these methods are quite lucrative.

Ifdone Order

The If-DONE order is the simplest of the conditional orders. Conditional means that IF the first order is entered (i.e. your Entry order) DONE then activate the following secondary order. The most common application is IF your Entry order is triggered (say the market reaches the peak of a Surfable wave) THEN place a second order to act as a Stop for loss (incase the market reverses back down to the bottom of your wave and keeps going in a losing direction). Alternatively, the second conditional order could be made to act as a Limit for profit, but as I've adamantly told you in my previous eBooks that you should always have a Stop set for loss, so you would typically use an IF-DONE only for that purpose.

Www.pftcapital.com

The material in this eBook also appears in the print version of this title 0-07-146465-4. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare mcgraw-hill.com or (212) 904-4069.

Broker

In this eBook I show how to place trades on the FXCM system because it is so easy to explain, and easy for you to do. Thus all examples in this eBook are based on FXCM. I have chosen against explaining the methodologies ones). They all have their strengths & weaknesses. I have selected FXCM to be the broker that all the examples of this eBook use simply because it would be difficult and confusing to write this eBook trying to explain the examples with multiple broker variables. I had to pick one, and FXCM is the one I went with. It is (in my personal opinion) the easiest and best choice for a novice trader to start trading with, and so that is also why I am using FXCM as the broker for all the examples of this eBook. They are, for scalp trading techniques, one of the better, and easiest to work with brokers. Additional Tip Most brokers don't always honor your stop orders during extreme volatility such as around Fundamental Announcements. At the time of this writing there is a...

GTC vs GFD

That means that your order will remain in effect today until it is either completed, you manually exit it, or the day ends. If the market conditions don't trigger the order today then it will automatically abort and the end of the day. You might want to use this for short-term day-trade Entry orders or for conditions that only apply for today (i.e. for the Netless Candle technique you'll learn later in this eBook).

About Risks

So how do we place the odds back in your favor You do this by trading a strategy (such as what is in this eBook) that capitalizes on High Probabilities. If you trade smart you should be able to CONSISTENTLY catch around 75 wins (more or less, depending on your skills - with practice you can increase this). So for example, if you made 4 trades for 20 pips stop limit, then odds are that 3 of them would be winners, and one would be a loser. So you'd have captured 60 pips (3 x 20 pips), but lost 20 (1 x 20 pips) for a net of 40 pips. Remember, you are not after humongous gains. Don't bet the farm (all your money) on a single trade. Slow and steady, CONSISTENTLY, is how you rack up a fortune. Please read the eBook FOREX Freedom to see how you can accomplish this.

Charts For Sailing

Since I've discussed charts so much in my previous eBooks I don't think that I need to say much here about them, so I'll get straight to the point. With the Sailing techniques taught in this eBook there are two primary chart views that you'll be mostly dealing with, and several supplementary views.

Trading Rule

Never employ these strategies just before a Fundamental Announcement. As this eBook is bundled with eBook 1 Explosive Profits as bonus reading material, which talks extensively about Fundamental Announcements, I won't cover this topic here, except to provide you with this caution.

Acm Charts

In earlier eBooks I stated the importance of using charts that display the live market data feed provided by the same broker you trade with. As I've pointed out before, this is important as there are little discrepancies between brokers' prices and so you need to have the accurate information otherwise you might be making trading decisions that could lead to inefficiencies (i.e. losses). This is especially true if you are engaging into tiny trades as you would be doing if you are scalping or surfing. This is less important if you are Sailing, but nevertheless it is still a significant consideration. Even though the charts they provide have limited functions (i.e. I like to make pretty colored lines, use Fibonacci (which works strange with them), have multiple colored MA lines for S.E.X. lines (which you'll learn about in this eBook) as all black lines is visually confusing, and I can go on with my whining) the charts are still important to use for referring to their live prices. If...

Corporations

In my earlier eBooks I discussed various topics pertinent to you as a trader. I've intentionally omitted the discussion about corporations until this eBook as it is a more advanced topic. For some of you reading this section (i.e. if you are already a business person) then you'll find this rather straight forward and common sense, however for some others this will be a very valuable tip. Furthermore your corporation can pay for some nice things for you, such as medical life insurance, buying you a new computer (for trading purposes P ), computer software, office supplies & equipment, telephone, Internet, cell phone, percentage of your rent mortgage (since your office is in your home), investment related books & magazines (you can even write off what you paid for my eBooks), seminars & training, travels to exotic destinations like Hawaii (to investigate investment opportunities P ), and even some possible fringe benefits (you the employee president need to be pampered from...

Tradable Pairs

In my previous eBooks Forex Surfing and Forex Scalping I stressed the importance to you of restricting yourself to trading only the currency pairs with small pip spreads. The logic behind this was of course that by trading with such small stops (10 to 20 pips) that you need the smallest spreads to allow your trade sufficient room to bounce around within without getting stopped from just some market fluctuation noise.

Things To Watch

This section contains some indicators and later on some technical analysis tools that are useful for Forex trading, and in particular for Forex Sailing techniques. There are many more indicators that are commonly used for Forex trading, but I haven't included them here in this eBook. Here I have Also on the above chart you can see what were the smallest daily moves (on the above chart 37 pips was the smallest day), but for the most part this is useless information (except you'll be interested in knowing what the small end of the spectrum is for the Teeny Netless Candles taught later in this eBook).

Looking For Reasons

Is to look for reasons why there should be a Micro Trend, and to look for reasons why your Micro Trend should end at some point. You search for these reasons using various Technical Analysis tools. If you are knowledgeable and experienced with Technical Analysis methods then you should easily be able to identify more opportunities. If you are completely new to Technical Analysis then don't worry, I'll teach you enough here in this eBook to be able to use the Surfing technique profitably. In this eBook I'll teach you how to recognize High Probability trading opportunities that are similar to other Technical Analysis methods you may have (or may not have) already learned. The significant difference is that I teach you a different way to jump into your trade that is usually far safer for you in terms of pips risked. This section of the eBook will explore reasons to notice that you have a high chance for a trading opportunity. Later we will look for reasons that your Micro Trend may be...

AmR 496

Ok, so what are all of these ATR figures for The answer is simple. The primary purpose of knowing the ATR of the candles you are observing (i.e. knowing the Daily average if looking at the Daily candles) is to assess the risk and likelihood of the trades you engage to reach the success target. Later in this eBook you will learn a variety of trading techniques, and for example, some of them are based on the amplitudes (how tall) of the day candles. If your stop order is placed within the range of the Daily average (AdR) then there is a good possibility that you may get stopped out by simple market fluctuations. Knowing the UdM, and seeing how far your stop order is in respect to the UdM then you will know the likelihood of a rogue large day of stopping you out (but this will happen less often). Conversely, if you are doing a Roulette trade then you can similarly predict how many days your trade might last until you either get stopped out or limit exit for profit. Knowing the Usual...

Petit Trends

My eBook Forex Surfing as these trends, which I am now discussing, are even smaller (and more aptly named Micro). Oh well. So that we have a convenient term to call these even smaller trends for our discussion purposes I'll call them Petit Trends (petit is the French word for small). So now we have a convenient label to use. It is important to keep in mind that when the market is trending you ONLY trade in the direction of the prevailing trend. DON'T try to trade in both directions. If the market is uptrending then you only trade the upward petit trends and you usually (there are exceptions) ignore the petit down trends. Only resume trading when you see that the market is resuming its upward trend catching a nice petit uptrend. (Reverse everything I just said for down trends) If the market is moving within a range such as a consolidation or within a triangle then you may trade both the up petit trends and the down petit trends (discussed further later in this eBook). I mentioned...

Caffeinated Market

Here is a shoot that happened for no apparent reason (no FAs were being released, and this is at about 21 15 EST when nothing should be happening. There was downwards moving consolidation, then all of a sudden the market started going for it breaking through the consolidation trendline. Then the market made a Shoot which is usually a good signal to enter into a trade (to hopefully catch the Caffeinated momentum). The following candle then proceeded to shoot up 20 pips in less than 60 seconds Earlier in this eBook I mentioned that it is a good idea to have a laptop computer dedicated to trading (so you can monitor the charts), and this is one of those times that proves having such a computer is a good idea as

Secure Your Entry

During the time of retracement, when the market has entered into a stagnation, simply place your entry order at the top bottom of the wave (factoring in the spread as discussed in the Forex Surfing eBook), with your stop order placed at the bottom of the wave or at the bottom of the stagnation area (the bottom of the retracement becomes the new wave bottom). Ideally your stop shouldn't be bigger than 10 pips, but it may be larger, and if so then use the Surfing rules for this scenario (and adjust your lots to conform with your equity management rules).

Diamonds Triangles

What about other patterns I don't want to get onto the subject of reviewing all the common patterns here in this eBook. I think it is sufficient to say that you should by now (having read the other eBooks) understand some of the most common patterns. Basically the rule of thumb is to be aware of them and to engage in a Sailing style of trade once you see a familiar pattern.

Sell Entry Order

You should also note that when you see something like this it may potentially be the start of a consolidation or even (rarer) a triangle. Later in this eBook I explain how to deal with those situations should what you are seeing develop into either a consolidation or triangle. TIP - In the eBook Forex Sailing I give a technique that is useful to apply to this Bi-Directional opportunity. Look for the technique in the section titled Netless Straddle Trading which will teach you how to trade these BiDirectional opportunities without getting doubly burned if the market bounces around indecisively.

Candlesticks

It is not my intention to give a full explanation of the use of Candlesticks for trading the Forex markets (I am contemplating writing an eBook about this subject for later). You will find a useful introduction about this subject in the Forex Classics eBook. The purpose of discussing candlesticks here is to ensure you are impressed with the intention to use them in conjunction with Sailing techniques, but also to briefly introduce you to some fractal perspectives. If you see a doji candle, or a very small candle, particular with short wicks (best), on your Daily charts, or even Weekly charts, then if you zoom into smaller scales you'll often notice that this doji is a consolidation pattern. When the consolidation pattern breaks out, and if it is a market reversal, then it will typically form a morning evening star formation. When most people are just getting excited over seeing a morning evening star formation you can be already on board on the trade because you recognized a breakout...

Sailing Techniques

In this major section of the eBook I will be giving you some specific opportunities and the specific techniques to trade those opportunities, as you are used to from the way I presented similar ideas to you in my previous eBooks. However later in this section I start moving from specific techniques towards broader concepts of techniques due to the nature of the Sailing style of trading. The general concept of Sailing is to enter a trade, entering by any of many methods, with the intention of letting your trade travel a significant distance (hence the concept of Sailing). Again, I have provided you with some specific methodologies, but due to the nature of Sailing it would be virtually impossible to cover all the specifics and contingencies (this eBook is so far the largest eBook of all my eBooks), so I teach you the concepts so that you will understand how to use the specific techniques you have learned in the other eBooks to accomplish the objective of Sailing. Be aware that what I...

Fibonacci Theory 101

First thing you'll notice is that this technique is incredibly simple, but believe me (and the many thousands of traders who use this technique) it is amazingly profitable. At first glance it seems too simple work, but it does. This technique ALONE consistently makes fantastic profits, and has been my personal absolute favorite of all techniques - definitely my most used strategy of all standard technical analysis tools. It's incredibly powerful, especially when used in advanced ways (Gartley's & Convergences - not really covered in this eBook). I won't discuss why Fibs work so well (trader psychology self-fulfilling prophesy) but just look at your historical charts and you'll see that it does. As you are already aware from this eBook, prices don't move in straight lines they move in waves, or swings (as it is often referred to in Fib theory). Just like how prices move in waves, as described in the basics of this eBook, prices move up, they then retrace down, and then they continue...

Disadvantages

The bottom line is that I'm not suggesting that you exclusively adopt this method of straddling and divorce the standard straddle technique. I've simply presented you with an alternative method to add to your trading toolbox. There are some circumstances when you'll prefer the Netless Straddle, and other times that you'll prefer to go with the standard straddle. There are a few opportunities in this Sailing eBook when the Netless Straddle is specifically appropriate, such as a variation of the Forex Roulette trading the high low breakouts of day candles.

Adding Sex Lines

In my eBook Forex Sailing (released simultaneously with this eBook) I talk extensively about S.E.X. Lines, what they are and how to use them. I'm just going to assume you've already read it, but if you haven't then skip reading this section and come back to this once you have read about S.E.X. in Forex Sailing. be able to find great trading opportunities to scalp virtually everyday The stuff I'm showing you (all the examples in this eBook) is NOT rare stuff that only happens once in a while. Seriously, just about everyday you'll find some kind of interesting scalpable opportunity Some days you'll score more pips than on other days (ok, this was a better than average day), but EVERYDAY IS A GOOD SCALPING DAY When viewing larger consolidation (say 30 pips but preferably way more) then the S.E.X. lines can be useful to help you spot petit trends and signal the ending of petit trends for within range trading (discussed later in this eBook).

Bigger Perspectives

I've said this before in my other eBooks, and I'll say it again here. It is important to start off each trading session (each day) by reviewing the larger time frame charts of the currency pairs you intend to watch & possibly trade. In this section of the eBook we will look at several opportune setups to watch for potential trading opportunities. This section assumes you understood everything from the above section and takes some of those concepts further. Micro Trends & Trends - As introduced in my eBook Forex Surfing, micro trends make for excellent scalping. You can scalp for small pips (repeated entry along the trend) or scalp as an entry method to get on board for a longer trade (for many more pips). It is also noteworthy to mention in the topic of trends that you can pay attention for trend reversal signals for scalping opportunities, particularly when the price is approaching a potential trendline bounce as seen on a larger perspective chart. have read my eBook Explosive...

EXIT 1 Manual Exit

First of all, remember that there are two main trading sessions per day. By trading sessions I mean the overlap times as discussed earlier in this eBook of the Asian European and European N.American times. Most often you'll find that you'll primarily trade one of those two sessions. Europeans are lucky in that both sessions are convenient for them.

Roulette Step

EBook Forex Scalping (in section titled Pattern Breakouts) can be a If you haven't yet read the eBook Forex Scalping then stop before you read any more of this section. Reading that eBook is a prerequisite before reading this section for the sake of your understanding. Furthermore, this section was written as a continuation of the discussion in that eBook, so go reread that section (titled Pattern Breakouts) so you can follow along the thought process started there. Something to watch for (and this happens a few times a year) is for when the S.E.X. lines bunch together (the end of the previous trend), and then when they start to separate again (the start of a new trend). Usually when the S.E.X. lines bunch on daily charts you'll see a consolidation pattern (a humongous one mind you) with some really big bounces (good trading opportunities for within range trading as will be discussed later (in the Forex Scalping eBook). When the market starts to move in a particular direction, the...

Netless Candles

Netless Candles is a trading technique that combines some of the concepts taught in earlier sections of this eBook. It provides an excellent trading opportunity that is similar to the Incredible Scalp yet is more suited for people who don't have much time to spend trading. This technique can easily be considered a 10-minute daily Forex trading technique in that all you would need to do is spend about 5 to 10 minutes each day looking for suitable setups and to monitor your existing trade(s). Furthermore it doesn't really matter when you engage in your trading activities - anytime after the close of the N.American (17 00 EST) and before the Asian European overlap time (02 00 EST) is best (which is a large window of time so you can do this when most convenient for you).

After Fa

I won't discuss this opportunity here at all because the eBook Explosive Profits - Revised Edition elaborates upon this topic in depth. That eBook of course explains After FA opportunities from a surfing perspective, but by now (having read this scalping eBook) you should easily be able to adapt scalping methodologies to the After FA concepts. Keep in mind that trading around Fundamental Announcements is very volatile. Be sure to be aware of the risks involved. In the eBook Forex As the saying goes, the market can only move up, down or sideways. Obviously, when the market is trending then it is predominantly moving either up or down. As discussed earlier in this eBook, to say a market is moving sideways isn't really true because what it is really doing is moving up, back down, back up, back down, etc. - oscillating within a range. Recognizing that the market is confined within such a range presents the opportunity to trade within it, especially as a scalper. The above chart shows a...

Sell Order

Netless candles are good for Roulette types of trades for a fixed profit target, but they are also good for entry early in a new trend (after trend break, S.E.X. lines spreading) to sail for longer trades. You can also use the advanced split exit method discussed later in this eBook, so half can be a Roulette trade (exit at limit), then replace the stop to entry price for the second half of the trade (so you have zero risk now and have already taken some profit) to let the second half of the trade run for bigger profits (trailing stop appropriately).

Netless Teeny Days

Simply call up your daily charts of whatever currency pairs you like. Looking at the candles you'll see that some are rather large, bigger than average (usually part of a shooting trend), and there are some candles that are rather small, smaller than average. Pick out a few of the smaller ones to measure their height so you can get a sense for how small a candle needs to be for that currency pair for it to be considered a Teeny Day. Another way to see what are some of the small days is to look up the 1 period daily ATR (explained earlier in this eBook) and look along the bottom of the ATR chart to see roughly what the average small day is. Teeny candles offer excellent risk-to-reward ratios. If doing this you don't want to do a Roulette trade as you have high potential for significantly better returns. At the very least, if I wanted to restrict myself to a Roulette type of trade then I'd at least use the Average Daily Movement (learned in the section on ATR) as the limit (say 112...

Fibonacci Modified

In Forex Surfing I introduced you to the concept of Fibonacci, and within Forex Classics you have learned even more about this concept. It is not my intention to delve into a full explanation of Fibonacci techniques as this subject had been adequately explained in those other eBooks. In this section I As I have already declared before in my other eBooks, I am particularly fond of Fibonacci based styles of trading. I have personally found that Fibonacci works, and that is probably why I love it so much. Applied correctly you'll find that it will frequently result in a positive trade, and so I encourage you to make it a regularly used tool in your trading toolbox. With some successes I'm sure that you too will grow to love it. Fortunately there is a better way. What you do is wait until it comes approximately to the 62 level (known as the Golden Ratio) then watch for reversal signals. Earlier in this eBook I discussed the fractal nature of trends, and suggested that you zoom into...

Kings Crown

On small Crowns (as you might see on your micro trends) you might look for a suitable wave to surf after peak 3 has been established. Remember, when trading micro trends you might see this type of a crown just as a Fibonacci swing is beginning a retracement. Read the strategies I've written about trading Fibs earlier in this eBook.

Trend Trading

Earlier in this eBook I discussed Trends and their fractal like nature in some depth. In my own mind at least, I consider what I wrote there to be some brilliant concepts in regards to the topic of trends. There I also stated many useful implications for trading, but here I will try to add a few more insights. Earlier in this eBook I offered you many valuable suggestions on how to find trends (in various scales). Ideally a trend will start supported by multiple reasons in various chart scale perspectives (but not always that many clear reasons), and you spot the commencement of a new trend by the death of an old one (a trend reversal), so look for common trend reversal patterns too. Remember that a sideways consolidation is considered a sideways trend, and it ends by a breakout (same thing with triangles and other confined patterns). Once you find the beginning of a new trend then you may trade it by just about any trading method that seems appropriate to you for the specific...

Scale Shifting

Learned in this eBook on hourly charts rather than one minute charts. You can also play with other time increments such as 15 minute candles or 3 hour candle. Remember that I've stated that the characteristics of the market on different scales behaves similarly. As I keep saying, the macrocosm reflects the microcosm and vice versa. It is not the scope of this eBook to expand upon this topic in any depth but I will give you a few tips to consider

Quick Trends

In my eBook Forex Sailing I discuss in detail the fractal-like nature of trends, and how to work with them. I'd recommend you read what I wrote on this subject there as it has valuable application to scalping. Earlier in this eBook I discussed looking at the trend of petit trends, of just a little wave on your 1 minute charts (that might last only several minutes). What I'm discussing here is a little bigger than that perspective kind of moving into the turf of what I'd call micro trends (as defined in Forex Surfing). Tip - It is usually a good idea to wait until you have a reversal confirmation at the break of a trendline, such as taking out the previous bounce high low, and sometimes you might want to wait for a tiny wave to happen in the new direction. Pay attention to the concepts of trading a petit trend earlier in this eBook.

Trailing Stops

I have discussed trailing stops in my other eBooks, but because it is such an important topic I'll touch on it here once again. It is important to realize that I'm talking about MANUALLY replacing your stops here in this section, but I will also address the subject of an automatic stop here as well (which wasn't discussed previously). At the time of my writing this eBook brokers have only relatively recently added the ability to automatically trail stops. I am working on cooking up some specific trading strategies to maximize the function of auto trailing stops but I'm still testing my theories & techniques, thus I won't share them with you yet.

Extra Examples

In this section I've just tossed in a few chart pictures for you to look at, with a little commentary. This is supplementary information for you to just show off a few more examples of the stuff that you've learned about in this eBook. discussed in this eBook isn't something that happens just once in a while, but

Holographic Mindset

One more thing - I didn't share with you everything through my eBooks & training materials. It's not that I'm withholding information from you there is much more to learn, but you'll get it from your own experiences. Any course, of any subject, can only hope to convey to you some of those most important concepts and act as a finger to point you in the right direction to continue your learning about that subject. Over time, as you integrate the techniques that I taught you (and any other Forex teacher's material that you

What Is Scalping

(that you'll learn later in this eBook) the scalper could successfully capture 10, 20, 30 or even more pips that (assuming he traded 10 regular lots) would result in profits of 1,000, 2,000, or even 3,000 in a very short amount of time. Some scalp attempts can occasionally yield over 100 pips (over 10,000 trading 10 lots) - and YES, set ups like that happen several times each month Scalping is suited for some people & personalities better than others. Some traders love it, making it their primary trading style, whereas some traders hate it for their own personal reasons. Scalping is best reserved for traders after they are already familiar with other trading styles, but if this is your first exposure to trading Forex don't worry about it - you can easily learn everything you need to know to make some HUGE profits by scalping just by reading this eBook (however I strongly suggest you first read my other eBook Forex Surfing as there you'll learn many basics that I won't be covering...

Table Of Contents

Why did I call this eBook Forex Sailing I think of the Forex market as the Sea it is as large as the ocean (after all it is larger than any other financial market). In my previous eBook, Forex Surfing I used the analogy that the techniques contained within it are similar to surfing little waves in the ocean (I enjoy body boarding which is a kind of surfing). Surfers only play in the ocean for a short period of time, maybe a few hours at a time, much like the trading concepts taught in that eBook. Thus the concept of this eBook, Forex Sailing, is to show you techniques that are better suited for longer term trading. The objective is therefore to teach you how to chase profits of 100 pips or more (typically hundreds, but occasionally even a thousand pips). Most people who trade larger moves in the Forex market typically trade fewer lots with larger stops paying more attention to the higher time frame charts exclusively. In this eBook I'll definitely teach you some techniques that...

Sharp Reversals

Immediately following Yikes candles you need to pay close attention to react quickly to a likely sharp reversal. Notice on the right side of the chart you see a pair of candles (blue then red) that formed a top. This is called (by many traders) Train Tracks, and it often signals a reverse. You see a couple of Train Tracks earlier in the chart too. Just after 8 00 and also around 7 35 you see what are known as Tweezer Tops Bottoms (they look like train tracks with equal length wicks on them that resemble a pair of tweezers). These aren't the best example of them but am just showing you them here to be able to recognize them as they sometimes happen to potentially signal a sharp reversal to watch for. Train Tracks and Tweezer Tops Bottoms, though they have slightly different meanings (which I'll explain in a future eBook that I'll write about Forex Candles), but I would simply lump them together here along with Yikes candles to have similar significances. (you'll learn more about that...

The Joy Of Scalping

The downside of scalping is that it is the most labor-intensive style of trading. Whereas longer-term styles of trading might only require minimal work each day (as some of the techniques presented in the eBook Forex Sailing), and some kinds of day trading (as taught in the eBook Forex Surfing) may only require periodic checking of charts during a trading session, scalping however requires that you spend more time paying attention to charts throughout a trading session, and active concentration while engaged

Premises Of Scalping

Smaller moves are easier to gain - In my previous eBooks I mentioned that the larger your target pip gain the higher the possibility that the target won't be reached. I have been known to say that it is easier to catch 20 pips than 200 simply because in the time that it would take to reach that goal the market sentiment could change due to unforeseen circumstances. As a scalper it is reasonably easy to determine a small movement in a particular direction and to capitalize on a few pips before the market will likely reverse. examples throughout the rest of this eBook. The first solution is that I can record videos of the live charts so that you can see what I am talking about. This however turned out to not be a good solution because the movies are soooooo long (because each candle represents one minute, and the whole thing takes many minutes to complete a complete market move) and the resulting file size of the movie is huge. The fact that the file size becomes huge makes it...

Micro Trends Trends

How Trafe Micro Trends Forex

This should be easy for you to understand as it was extensively written about in my eBook Forex Surfing (which is prerequisite reading before reading this eBook). Furthermore, I discussed at length the topic of Petit Trends connected with Micro Trends in the above section of this eBook. For the above reasons I won't be writing too much here about this subject but will touch upon it to discuss some of the nuances that you need to be aware of, and to briefly review some concepts. The concepts taught in Forex Surfing can be considered scalping techniques in and of themselves, but as surely by now you recognize, the techniques presented in this eBook are more specifically scalping techniques. What is wonderful about the scalping techniques you have already learned about in the previous section is that, on a Micro Trend (as defined in Forex Surfing) you can use these scalping techniques to more precisely enter into trades than what was taught in Forex Surfing to capitalize on a few extra...

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