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PRESENTS FOREX TRADING MADE SIMPLE Written by: David A Gray ©5/1/2019 Forex Opening Bell™ — All Rights Reserved
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Page 1: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

PRESENTS

FOREXTRADING

MADE SIMPLEWritten by: David A Gray

©5/1/2019 Forex Opening Bell™ — All Rights Reserved

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DISCLAIMER

There is considerable exposure to risk in any foreign exchange transaction.Any transaction involving currencies involves risks including, but notlimited to, the potential for changing political and/or economic conditionsthat may substantially affect the price or liquidity of a currency.

Trading foreign exchange on margin carries a high level of risk, and may notbe suitable for all investors. Before deciding to invest in foreign exchangeyou should carefully consider your investment objectives, level ofexperience, and risk appetite.

Leverage allows traders the ability to enter into a position worth many timesthe account value with a relatively small amount of money. This leveragecan work with you as well as against you. Trading with high leverage mayincrease the losses suffered.

No representation is being made that any account will or is likely to achieveprofits or losses similar to those that may be shown. Past performance is notindicative of future results. Individual results vary and no representation ismade that clients will or are likely to achieve profits or incur lossescomparable to those that may be shown.

The information contained in this booklet does not constitute financialadvice or a solicitation to buy or sell any securities of any type. ForexOpening Bell™ and all of its affiliates will not accept liability for any loss ordamage, including without limitation any loss of profit, which may arisedirectly or indirectly from use of or reliance on such information.

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TABLE OF CONTENTS

Title Page

Introduction i

What is Forex 1

Role of a Forex Broker 2

Forex Signal Provider 3

The FOB-Bot™ 4

The FOB Trading Plans 5

The FOB Emails 7

The FOB Signal 10

The Basics of Trading 11

FOB's Forex Broker 12

Execute A FOB Signal 13

Adjust Stop Price 23

Take Profits Manually 26

Monday thru Friday @ 4:55PM Est. 30

Closing 34

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INTRODUCTION

The history of currencies and trading is as old as mankind and Talmudicwritings that mentioned people who assisted others doing transactions inexchange for a commission a few thousand years ago. Today, we would callthese helpers brokers.

The history of currencies is not only very interesting, but it helps youconnect to the financial instruments that we trade every day and understandthe underlying dynamics a little bit better.

2500 years ago, the Greeks and Egyptians traded goods and currencies withmolten silver and gold coins and their value were determined by their actualweights and their size.

500 years later, during the Roman empire, currency minting was centralizedand a government-run monopoly on currency trading was established.

A centralized monopoly-like structure exists still today with central banksdeciding and ruling about monetary policies.

1000 years ago, during the Middle Ages, copper became the most commonlyused metal for minting coins and trading. Thus, by using copper instead ofgold, it was possible to create coins with lower value.

Today, the US 1-cent coins are made out of 2.5% copper and 97.5% zinc.Monte dei Paschi, the world's oldest bank, was built around that time and itsonly purpose was to facilitate currency transactions. Would you haveguessed that the world's oldest bank was established in Italy?

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The first Forex market was established in Amsterdam, roughly 500 yearsago. This possibility to freely trade currencies helped stabilize currencyexchange rates. From Amsterdam, Forex trades throughout the whole worldwere initiated.

240 years ago, 1875, the Gold Standard was introduced. Within the GoldStandard, a country was limited to only minting as much national currencyas there was Gold held in reserves. The Gold Standard had the purpose toguarantee the value of a currency.

After the first World War, countries had to print more money in order tofinance their expenses, which signals the end of the Gold Standard. By 1913,the number of Forex trading firms in London rose from 3 to 71 within only10 years.

During World War II, the Bretton Woods system was introduced. It was asuccessor of the failed Gold Standard. You should read more about theBretton Woods system and how Richard Nixon essentially ended it in 1971.

In 1976, the global acceptance of floating foreign exchange rates wasintroduced as the successor of the Bretton Woods system, and in the mid1990s, Forex became electronically traded.

Prior to 2013, 50% of all Forex transactions were made in Pound Sterling.Today, the Pound Sterling is the 4th most traded currency after the US-Dollar, the EURO and the Japanese Yen.

Of course Forex has been around since nations began minting currencies, butnot in its most basic sense of people converting one currency to another forfinancial advantages.

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Since the Forex market trades more than 5 trillion dollars a day, economicequality is a level playing field and everyone has the same access to thesame wealth.

Many people aspire to trade Forex, but only 1% succeed. Forex trading isnot casino gambling or an online poker game. To be a successful Forextrader, you need to be self motivated, discipline and able to persevere.

Instead of looking to get rich in five years, you should focus on aninheritable Forex trading plan to build wealth over a 20 or even 30 yearperiod. A long-term strategy is much more doable because it taps into thetime-value of money, something short-term wealth building strategiescannot.

If you choose to trade Forex, never lose sight of the fact:

You are competing with professional traders on Wall Street and otherexperienced traders around the world who are very serious, highlyequipped with advanced education and tools, and most importantly,committed to making money.

Trading with real money is very emotional and 99% of Forex traders losetheir money and quit. Only those who persevere will develop a competitiveedge for trading and saving a relatively small amount of money consistentlyover a very long period of time.

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Forex Opening Bell™ is here to help you. We have simplified Forex tradingfor all levels of Forex traders. The FOB-Bot's artificial intelligence that runsbehind the scenes, gives you the do-it-yourself opportunity to build wealthslowly and steadily.

WHAT IS FOREX

Forex (FX) is the foreign exchange market for which world currencies aretraded. It is the largest, most liquid market in the world with an average dailytrading volume exceeding $5 trillion. All FX trades involve two currenciesbecause you're betting on the value of one currency against another.

Let's use the EUR/USD, the most-traded currency pair in the world, as anexample. EUR, the first currency in the pair, is the base currency, and USD,the second, is the counter currency.

When you see a price quoted on a FX platform, that price displays howmuch one Euro (base currency) is worth in US dollars (counter currency).The FX platforms provides two prices, one is the buy price and the other isthe sell price.

When you take the difference between the two prices, that amount is calledthe spread. When you click buy or sell, you are buying or selling the secondcurrency in the pair.

If you buy the EUR/USD, you are holding for the USD to become worthlessper Euro over time. In this transaction, the favorable goal is for the Euro tobecome worth more money than the USD for a profit to be made.

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It takes time to master FX trading, but once you have, a whole new world ofopportunities opens for you. You may become an account manager and startearning profits not only from your trading, but also as a commission formanaging accounts.

The Forex market is heavily traded and as a result it is heavily regulated bythe UK's Financial Conduct Authority (FCA), and, by the USA's Securitiesand Exchange Commission (SEC). Most Forex brokers are regulated,making the FX one of the safest markets; in terms of oversight control, forconsumers to trade.

ROLE OF A FOREX BROKER

To begin trading foreign exchange currency, you need to first find a reliableForex broker. A Forex broker is a company that provides traders with accessto a FX trading platform that enables them to buy and sell foreigncurrencies. Brokers provide these platforms to allow clients access to tradeon the 24-hour FX market, in exchange for compensation through the “bid-ask spread” of a currency pair.

Your priority is to carry out research so you can make an informed decisionas to which broker to trade with. You should also make sure the broker youselect has a positive reputation, and that they are able to meet your tradingrequirements.

Most Forex brokers will permit prospective clients to test their services witha practice or demo trading account, so that traders can obtain a goodunderstanding of what the system is like. It would be wise to test out severaltrading platforms prior before deciding which broker best suit you.

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A good broker should offer you several types of accounts with differentbenefits for specific styles of trading. Having a trading account is like havinga bank account where you can purchase currencies and hold them.

In return for executing your trades, the Forex broker will charge acommission per trade or a spread. Ideally you should choose a Forex brokerthat doesn't charge additional commission outside of the bid-ask spread.

FOREX SIGNAL PROVIDER

A Forex signal provider is a service, usually on a subscription basis, where aprovider sends regular trading signals to subscribers. This means that a goodForex signal provider does all the hard work of analyzing the market andfinding suitable trade setups, which are then sent out in the form of signals tothe subscribers.

Those signals usually include the traded instrument with the entry price, stoploss, and take profit levels, but can also include additional information likecharts and various market commentaries.

Signals are usually offered through various subscription models, includingmonthly and yearly packages, where the latter usually comes with a heavydiscount of the monthly rate. While the price and the subscription modeldepend on the signal provider, rates usually begin at around $50 and canreach up to a few hundred dollars

The profitability of Forex signals is measured in pips, just like any otherForex trade. Most signal providers list their monthly profitability on theirwebsite, and sometimes also include a trade history with the tradedinstruments. In any case, don't go for a signal provider that doesn't have averified track record.

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A verified track record ensures that all signals that are sent out are alsotraded by the signal provider itself.

THE FOB-BOT™

Forex Opening Bell™ was founded by David Gray, a software developerand professional Forex trader. In 2009, David started coding algorithms forthe FOB-Bot™ and proceeded testing it on the world currency market bytrading with personal funds. Since 2017, the FOB-Bot™ has been showingpositive dynamics.

Due to the number of successful bids by the FOB-Bot™, in 2019, Daviddecided to grant public access to the FOB-Bot™ trading signals. One factorthat makes the FOB-Bot™ unique compared to other trading signalproviders, is the artificial intelligence that runs behind the scenes. The FOB-Bot™ is a self-learning neural network, this means that our FOB-Bot™continues to work diligently in retrieving new market data to reproduceprofitable signals based on historical data and current market trends.

Forex Opening Bell™ does not use leverage, such as charging highmembership fees to gain extra cash to help us look successful. We trade withour funds and we are independently funded, this means our business plandoes not rely on the support of your membership.

There is a $27.00 charge for monthly and a $185.00 charge for yearlymembership to cover bandwidth, data usage and network expenses.

If you wish to gain access to the FOB trading software, visitwww.forexopeningbell.com. Select the "Join Now" tab from the menu bar atthe top and choose a trading plan based on your goals. Joining ForexOpening Bell™ is fast, secure and profitable.

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THE FOB TRADING PLANS

A trading plan is a systematic method for identifying and trading currenciesthat takes into consideration a number of variables including the trader's time,risk, goals and objectives.

There are six (6) trading plans for you to choose from. Each one is suited forall levels of Forex traders and internally structured around two factors:

(1) Risk Management — A collection of ideas offering downside protectionto each trade. This can include but not limited to the number of currencyunits used when buying or selling Forex.

(2) Wealth Building — The process of generating long-term income throughproper financial planning and passive Forex trading.

overview and long-term goal of trading plan 1

Plan Investment Risk % Units Risk $ Mthly Goal Yrly Goal

Initial Investment $500 1.8% 2K $9 $27 $324

2nd Year $824 1.5% 3K $12 $37 $445

3rd Year $1,269 1.5% 4K $19 $57 $685

4th Year $1,954 1.5% 7K $29 $88 $1,055

5th Year $3,009 1.5% 10K $45 $135 $1,625

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6th Year $4,634 1.5% 15K $70 $209 $2,502

7th Year $7,136 1.35% 21K $96 $289 $3,468

8th Year $10,604 1.35% 32K $143 $430 $5,154

9th Year $15,758 1.35% 47K $213 $638 $7,658

10th Year $23,416 1.35% 70K $316 $948 $11,381

11th Year $34,797 1.35% 104K $470 $1,409 $16,912

12th Year $51,709 1.35% 155K $698 $2,094 $25,130

13th Year $76,839 1.35% 230K $1,037 $3,112 $37,344

14th Year $114,183 1.35% 342K $1,542 $4,624 $55,493

15th Year $169,676 1.35% 508K $2,291 $6,872 $82,463

16th Year $252,139 1.35% 755K $3,404 $10,212 $122,539

17th Year $374,678 1.35% 1.122M $5,058 $15,175 $182,094

18th Year $556,772 1.35% 1.668M $7,516 $22,549 $270,592

19th Year $827,364 1.35% 2.478M $11,169 $33,508 $402,098

20th Year $1,229,462 1.35% 3.683M $16,598 $49,793 $597,518

Above Calculations Are Based On A Monthly ROI of 6%

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Trading Forex is one of the most lucrative careers in this world. However,99% of Forex traders lose their money from the lack of planning, patience,discipline and a realistic attitude to trade in a smart way.

THE FOB EMAILS

Forex trading is conducted around the clock, opening on Sunday at 5PMEST. and closing on Friday at 5PM Est., excluding local holidays. The Forextrading day is divided into three (3) major global sessions with regionalspikes in trading activity.

Just before the Asian session closes, the European session takes over andhalfway through the European trading day, the American session comes on-line.

These global business hand-offs allow the Forex market to remain open 24hours per weekday.

Forex Opening Bell™ signals are emailed once a day on Sunday thruThursday at 5PM est. and followed by FOB signal updates throughout thetrading session.

an overview example of an opening bell signal

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Wednesday Opening Bell Good evening David

— 1 — 25EUR/GBP Open 9/4/2019

O — Buy E — 0.89548 S — 0.89198 (35) L — 0.9805 (850)

Set as a GTC entry order and secure profits when prompt

— FOB DISCLAIMER —

Our research results are for informational use only, and should not beconstrued as the provision by Forex Opening Bell™ of any form ofinvestment advice or trading recommendation. Trading any financialmarket using leverage involves risk of losses greater than deposits.

an overview example of an opening bell signal update

Signal Update Hey David

25EUR/USDO — Buy E — 1.09336 S — 1.08886 (45) L — 1.2133 (1199)

FYI — 15 PIPS BEFORE OPEN-POSITION This active-order iswithin 15 pips above the predicted Entry (aka = support area). Pleasenote: The Ask price 1.0945 may not fall below the Entry price 1.09336.Price moves along the line of least resistance. — Jesse Livermore

— FOB DISCLAIMER — Our research results are for informational use only, and should not beconstrued as the provision by Forex Opening Bell™ of any form ofinvestment advice or trading recommendation. Trading any financialmarket using leverage involves risk of losses greater than deposits.

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Signal Update Hey David

25EUR/USDO — Buy E — 1.09336 S — 1.08886 (45) L — 1.2133 (1199)

STATUS — OPEN-POSITION The Ask price has breached thepredicted Entry 1.09336 (aka = support area). This mean you areactually buying the EUR/USDSomeone is sitting in the shade today because someone planted a tree along time ago. — Warren Buffett

— FOB DISCLAIMER — Our research results are for informational use only, and should not beconstrued as the provision by Forex Opening Bell™ of any form ofinvestment advice or trading recommendation. Trading any financialmarket using leverage involves risk of losses greater than deposits.

an overview example of an opening bell action required signal update

Action Required Hey David

25EUR/USDO — Buy E — 1.09336 S — 1.08886 (45) L — 1.2133 (1199)

STATUS — 68 PIP PROFIT RECORDED The Bid price is 68 pipsabove the predicted Entry 1.09336 (aka = support area). This mean thesignal is profitable and you should manage risk by adjusting your stopto 1.09336.Nothing new ever occurs in the business of speculating or investing insecurities and commodities. — Jesse Livermore

— FOB DISCLAIMER —

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THE FOB SIGNAL

The FOB-Bot is a fully automated software that interacts directly with theForex market to email profitable trading signals five days a week; Sundaythru Thursday at 5PM est.

Expect to spend an average of ten minutes a day (4:55 to 5:05), inputting theopening bell information into your Forex broker's trading platform using theterms below:

Each signal is complete with order type (O), entry price (E), stop price (S),limit price (L) and a two digit numbers to the left or to the right of eachcurrency pair's name.

New Forex traders and Position traders should use signals that have thefollowing numbers: 10, 15, 20, 25 and 30.All signals with different numbers are for experience Forex traders to scalpthe Forex market after getting candlestick conformation.

— 1 — 25EUR/GBP Open 9/4/2019

O — Buy E — 0.89548 S — 0.89198 (35) L — 0.9805 (850)

Set as a GTC entry order and secure profits when prompt

Good Till Cancelled — A GTC order remains active in the market until theorder is open, or, until you cancel the order.

Entry — A entry order is an order placed to either buy below the market orsell above the market at a certain price.

Stop — A stop order is designed to limit a trader's loss on an open positionthat makes an unfavorable move.

Limit — A limit order is designed to secure a trader's profits on an openposition that makes a favorable move.

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THE BASICS OF TRADING

Forex trading for beginners can be especially tough. This is mostly due tounrealistic expectations that are common among newcomers. What you needto know is that currency trading is by no means a get-rich-quick scheme.

Cross rate — The currency exchange rate between two currencies, both ofwhich are not the official currencies of the country in which the exchangerate quote is given in.

Exchange Rate — The value of one currency expressed in terms of another.For example, if EUR/USD is 1.3200, 1 Euro is worth US$1.3200.

Pip — The smallest increment of price movement a currency can make. Alsocalled point or points. For example, 1 pip for the EUR/USD = 0.0001 and 1pip for the USD/JPY = 0.01.

Leverage — Leverage is the ability to gear your account into a positiongreater than your total account margin.

Margin — The deposit required to open or maintain a position. Margin canbe either “free” or “used”. Used margin is that amount which is being usedto maintain an open position, whereas free margin is the amount available toopen new positions.

Spread — The difference between the sell quote and the buy quote or the bidand ask price.

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Bid Price — The bid is the price at which the market (or your broker) willbuy a specific currency pair from you.

Ask Price — The ask price is the price at which the market (or your broker)will sell a specific currency pair to you.

Being a Forex trader offers the most amazing potential lifestyle of anyprofession in the world. It's not easy to get there, but if you are determinedand disciplined, you can make it happen.

FOB's FOREX BROKER

If you are new to Forex trading, or, you do not have a Forex broker: youshould download the Forex.com mobile app and open a demo account.

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Your demo account with Forex.com is good for (30) days, at which time youshould open a live account using the same mobile app or visiting theirwebsite.

EXECUTE A FOB SIGNAL

Experienced traders don't advise trading on the Forex market without using aEntry/Pending Order since they help to avoid significant losses. Follow thesteps below to properly execute a FOB signal:

Check Email — Check your email every Sunday thru Thursday at 5PM est.,to review FOB signal information.

Currency Pair — Using the FOB signal information, open your Forexbroker's platform to find the name of the currency pair you wish to execute.(see below figure 1 thru 3)

Buy/Sell — Using the FOB signal information, select the buy or sell tabassociated with the currency pair you wish to execute. (see below figure 4 & 5)

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FIGURE 1

Using the Forex.com mobile app — from the "Dashboard" select the threedots at the bottom right.

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FIGURE 2

On the "More" page — select "Search markets".

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FIGURE 3

On the "Find a market" page — type the name of the currency pair.

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FIGURE 4

When you find the currency pair — select the Buy/Sell tab according to thesignal information.

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FIGURE 5

On the next page — select the "Order" tab at the top.

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Units — Using the information from the trading plan you selected, type thenumber of units into the designated input field associated with the currencypair you wish to execute. (see below figure 6)

Entry — Using the FOB signal information, type the entry price into thedesignated input field associated with the currency pair you wish to execute.(see below figure 7)

Stop — Using the FOB signal information, type the stop price into thedesignated input field associated with the currency pair you wish to execute.(see below figure 8)

Limit — Using the FOB signal information, type the limit price into thedesignated input field associated with the currency pair you wish to execute.(see below figure 8)

Place Order — Once you have properly entered all the required informationinto your Forex broker's platform, select the place order button or tab toexecute the trade.

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FIGURE 6

After you have completed the steps in figure 4 & 5 — type in your numberof units. (use 150k units for demo account)

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FIGURE 7

After you have completed the steps in figure 6 — type in the "entry price",then select "Add Unassociated Orders".

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FIGURE 8

After you have completed the steps in figure 7 — type in the "stop price"and the "limit price", then select the "Place Order" tab.

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ADJUST STOP PRICE

As the signal progress and makes a favorable move, the FOB-Bot will sendan action required email. The email will require you to adjust the stop priceto minimize risk, or, to lock-in profits. Follow the steps below to properlyadjust stop price:

Currency Pair — Using information from the FOB action required email,open your Forex broker's platform and find the previous executed currencypair you wish to adjust.

Current Stop Price — Using information from the FOB action requiredemail, find the current stop price associated with the previous executedcurrency pair you wish to adjust. (see below figure 9 & 10)

New Stop Price — Using information from the FOB action required email,enter the new stop price associated with the previous executed currency pairyou wish to adjust.

Place Order — Once you have properly entered the required informationinto your Forex broker's platform, select the place order button or tab toexecute the adjustment.

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FIGURE 9

Using the Forex.com mobile app — from the "Dashboard" select "Activeorder".

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FIGURE 10

On the Orders page — find the current "stop price" using the informationfrom the action required email, then type in the new stop price.

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TAKE PROFITS MANUALLY

Take profit order, also referred to as a limit order, is an order that closes yourtrade once it reaches a certain level of profit. In order to take profit beforeyour trade reaches the limit order, it's necessary to close the position. Followthe steps below to properly close the position:

Buy Entry Order — A buy entry order is associated with (1) sell stop orderand (1) sell limit order.

Sell Entry Order — A sell entry order is associated with (1) buy stop orderand (1) buy limit order.

(1) Step Close Order — Some broker's platform allows a single click to closethe entry order, stop order and limit order. If you are using a one step closeorder platform, click the close order button or tab.

(3) Step Close Order — Some broker's require you to close the entry order,stop order and limit order separately. If you are using a three step closeorder platform, click the close order button or tab for the entry, stop andlimit separately. (see below figure 11 thru 13)

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FIGURE 11

Using the Forex.com mobile app — from the "Dashboard" select "Openpositions".

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Page 34: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

FIGURE 12

On the Positions page — find the currency you want to take profit from andclose the entry price by selecting the "X", then select the "Active orders" tab.

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Page 35: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

FIGURE 13

On the Orders page — close the "stop price" and "limit price" by selectingthe garbage-can to the right of each.

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Page 36: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

MONDAY thru FRIDAY @ 4:55PM EST.

To avoid duplicate entry orders, you should delete all unfilled entry ordersevery Monday thru Friday at 4:55PM est. Follow the steps below to properlydelete unfilled entry orders:

Open — Open your broker's trading platform. (see below figure 14 thru 16)

Identify — Identify the difference between your filled entry orders and yourunfilled entry orders. (see below figure 14 thru 16)

Delete — Delete all of your unfilled entry orders before entering a new entryorder. (see below figure 14 thru 16)

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Page 37: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

FIGURE 14

Using the Forex.com mobile app — from the "Dashboard" select "Openpositions".

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Page 38: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

FIGURE 15

On the Positions page — write down the name of each currency on aseparate sheet of paper, then select the "Active orders" tab.

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Page 39: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

FIGURE 16

On the Orders page — select the garbage-can to the right, which isassociated, with any currency pair that is NOT on your list.

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Page 40: TRADING FOREX · 2020-03-03 · used metal for minting coins and trading. Thus, by using copper instead of gold, it was possible to create coins with lower value. Today, the US 1-cent

CLOSING

Everyday is a bank account and time is our currency. No one is born withless or dies with more. We all have 24 hours each. This moment is your dayof opportunity.

— David Gray —

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