Shane got such a positive response to his first guest blog post (below) that I wanted to keep his momentum going and give him space to give you a little peak into his world of Forex trading. Many of you have checked out his “Evil Genius Cheats” newsletter, but if you haven't I recommend you do so before he won't let any more free people in. Please enjoy the article, check out his “Evil Genius Cheats” newsletter, and let the comments FLY!!
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Ask any trader what currencies they trade and 99% of them will mention the major pairs. The EURUSD, GBPUSD, USDJPY and a handful of others. These are very active, very liquid and perhaps out of habit, the most widely traded.
What about the “exotic” pairs? The Danish Krone (USDDKK), Singapore Dollar (USDSGD) and a host of other pairs, give ample opportunity for the professional trader to make money. Right away, the main argument will be about the spread to trade exotics. True, the spread is much higher than EURUSD but look at the pip cost below while trading 100k. It is not the standard $10/pip/$100k.
Luca obtained his M.B.A in International Business & Finance from the New York University Stern Graduate School of Business and his B.A. in International Marketing from Bernard Baruch College. Since then he has been an author, an advisor for multiple Fortune 500 companies, Vice President & Head Advisor for FX Concepts, and an instructor at the New York Institute of Finance. Luca specializes in foreign exchange and technical analysis and has traded major crosses as well as exotic currencies.
Well here I am at my vacation home in Maine watching the markets go crazy. Yes, we are so lucky to have access to the Internet and to the markets themselves no matter where we are in the world.