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So how can you learn to trade the forex? Most
new traders begin learning on their own through a
trial-and-error process of wins and losses, while probably
gathering general information on the Internet or at the library.
However, this is probably not the best approach to take.
Instead, I recommend having a certified forex mentor, which may
be the best avenue available to you. It may take a couple of
days for a mentor just to walk you through basic procedures and
working assignments, but these will help you along the way to
success, whether you have experience trading or not. Once you’ve
learned the basic techniques and procedures, then, as a new
forex trader, your primary focus should be to work on your
attitude, discipline, and skill development. This takes time,
patience, and maybe even some prayer along the way.
To clearly understand all of the conceptual procedures found
(which includes the S90/Crossover as well as several ongoing
applications), you learn the basics of forex trading skills
along with other intermediate and advanced methodologies from a
certified mentor.
What is a certified mentor? A
certified mentor is a successful trader who (1) has
been formally trained, (2) has produced proven documented
trading results, and (3) attends continuing education sessions
that are required by monitoring groups such as the Independent
Forex Traders Association (IFxTA) or the Concorde Foundation.
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This type of independent governing agency
monitors registered mentors to make sure they are current and in
good standing with the most up-to-date research and methodology
available to traders.
These nonprofit organizations may also
provide legal representation to
traders who are dues-paying members of the association should
the trader have issues with a registered broker or bank
regarding a trading discrepancy. They also monitor and police
registered mentors to ensure quality—for example, by issuing a
mentorship ceaseand-desist order against violators.
Alert: To clearly understand the
methodology described in this book, it will be helpful for you
to have a basic understanding of how to determine trends,
resistances, supports, and confirming procedures, using software
that utilizes River Oscillator Indicator (ROI), River Channel
(RC), River Channel Up/River Channel Down (RCU/RCD), and their
extensions with cluster formations for possible reversal
entries.
Recommend you learn the correct procedures for understanding the
first two tiers of the legal and illegal elements of
S90/Crossovers, because this knowledge will help you interpret
the extreme levels and their off-market Fibonacci layers as well
as the overlapping Fibonaccis, which will be explained briefly
in future chapters.
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