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!!
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.
Is there really such a thing as "The Perfect Storm" of trading? At first I wasn't sure. But after talking to Shane Daly, coach at Netpicks and writer for "Evil Genius Cheats" newsletter, my mind was changed. We spoke for a while and that's when I asked him to write a blog post so I could get the pulse and opinions of the Trader's Blog readers! So he got to writing and put together the article below. I'd like to get your thoughts and opinions as Shane will be reading and answering questions and comments. If you also find the article useful then I recommend you check out the newsletter "Evil Genius Cheats" that's put together just for
Back in 1991, several conditions occurred that created an unusual storm that not only took some lives, but also had caused over $200 million in damages. Most famous, are the 6 lives that were lost and highlighted in the movie “The Perfect Storm”.
The act of trading also adds in some conditions that, if not prepared for, will not only cause you loss of money but also perhaps life as you know it. Trading is also “A Perfect Storm”...