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Forexinterbank Forex Trading Course For Day Traders And Small
By Ron Scott, Thu Dec 8th
More and more day traders and small investors are turning to theforeign exchange market and for a number of goodreasons. "The spot forex market provides them the means toinvest without concern for liquidity or market manipulation,"says John Keister, ForexInterBank’s CEO. "More importantly,forex pivot point trading provides conservative investors themeans to turn a modest but consistent profit." "Historically, the investment opportunities afforded by forextrading have gone largely unrealized because, up until a fewyears ago, the market had been the exclusive domain ofgovernments, banks, institutional investors, and brokeragehouses. Now, through ForexInterBank, investors can learn how totake advantage of those opportunities using a forex tradingcourse designed to simplify the process and to accelerate thelearning curve," say Keister, a medical doctor who first startedtrading forex while he was in medical school. According to Keister, forex trading, while well known in the‘inner circle’, is only now beginning to get the attention ofboth day traders and private investors. "Ten years ago, it wasdifficult to find a day trader or private investor who wasfamiliar with the market. Now at least half of the people I talkwith are at least mildly familiar with the market and half ofthose have actually dabbled in it," he says.
Keister attributes this increased interest level to a number ofproblems unique to equities and futures trading. "The biggestproblem is that price fluctuations on the equities and futuresmarkets are all too often a direct result of manipulation and/orthe buying and selling habits of major investors. Prices are notdriven as much by supply and demand as they are driven by marketmakers, media hype, and large institutional investors who havethe financial means to literally make or break a stockovernight," he says. The forex spot market, according to Keister, isn’t subject tothat kind of manipulation. The average daily turnover in theforex spot market is approximately $1.3 trillion dollars, 30times the turnover of all equity and futures markets combined.Unlike the equities and futures markets, forex marketfluctuations are driven by pure supply and demand - the purchaseand sale of foreign goods and services and, of course,speculation. Experts estimate that 5% of the market’s turnover is actuallydriven by trade imbalances, the remaining 95% comes fromspeculation. "One doesn’t have to be an economist to understandthat it is virtually impossible for any entity to manipulate amarket of such an immense size," Keister says. "What makes forex even more attractive is that one doesn’t haveto waste time spending endless hours doing technical analysisand studying fundamentals that, as I mentioned before, can betotally invalidated by the actions of insiders and majorinvestors," he says. "Forex trades, while certainly not withoutrisk, can be profitably and predictably executed without endlessand sometimes fruitless study." A second drawback to equity and futures markets is that oncemade investments are not very liquid. "Investors can’t reactimmediately to fluctuations in the equity and futures marketsbecause those markets are not ‘openly’ traded 24 hours a day. Alot can happen between the closing and opening bells, let aloneover a long weekend, and if the investor sleeps late, he maywake up to find upon opening that he has suffered significantlosses," he says. "By contrast, the forex market never closes. Once a trade hasbeen initiated, the investor has the ability to modify theparameters of that trade 24 hours a day." Perhaps the biggest factor making forex trading attractive isthat trades are not commission driven or heavily fee based andthis is why Keister got involved in forex pivot point trading inthe first place ten years ago. "Like most investors, when Istarted looking for ways to invest my money, I began the processworking with stockbrokers who were more interested in churningmy accounts than they were providing me with the information Ineeded to make ‘my’ cash register ring," he says. "In search of a way to avoid costly brokerage fees, I lookedinto traditional day trading but found that the costs wereprohibitive. First, one has to invest a great deal of money inan education which can, as I said earlier, be renderedirrelevant by players who can easily manipulate the market.Secondly, one has to ‘pay the piper’. By that I mean you have
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tobuy or lease an extraordinarily expensive and exotic softwareprogram that will enable you to execute trades. "Of course, one can always find ‘free’ software, but the annualsoftware lease agreements and/or membership fees paid to thecompany offering it end up costing more over the long term thanyou would have paid had you purchased the software outright," hesays. Disappointed with the vagaries of the equity markets, hiddenagendas of brokerage firms, and the sizable start up costs ofequities day trading, Keister’s turned to forex. "Forex tradingis excruciatingly affordable. One doesn’t have to invest afortune in software and on-going membership fees to get started.Trading software is readily available on-line and the only feeone can anticipate is a modest transaction spread," Keister says. "When I first started looking into forex trading, I discoveredthat the only way small investors could get in the market was tojump in the deep end, more often than not, without the knowledgethey needed to keep themselves afloat. Like everyone else, Ipaid dearly for my lessons because I couldn’t find a mentorwilling or able to provide the information I needed to succeed.Now that I look back on the experiences I had, I can understandwhy that information wasn’t readily available. The big boys werejust too busy making money and had nothing to gain sharing theirexpertise with little guys like me," Keister says. When Keister first entered the forex market, he was naturallyfrustrated by the fact that there was no single, reliable sourcehe could rely on to get answers to even the simplest questions,"he says. "There were a few insiders who assembled rudimentarytraining materials they would sell at an exaggerated cost, but Icouldn’t find a central source of information about forextrading and, more importantly, couldn’t get clarification whenthe materials provided generated even more questions than theyanswered. "Over the past ten years I’ve also read scores of books aboutforex trading and they, too, have a common problem. Whileproviding an abundance of information, they unnecessarilycomplicate the process," he says. "Forex trading is a verysimple process based on a mastery of a number of visual cuesthat normally occur above and below pivot points. You don’t needto understand why the market behaves the way it does. You onlyneed to be able to recognize a few predicable patterns togenerate a reasonable and consistent return on your investments." Failing to find an adequate source of information, Keisterdecided to put together an education program of his own, onebased on his own successes and failures. "It was clear to methat the forex education arena was lacking so I put together aforex trading course that simplifies the process, providinganswers to basic questions the experts were too either too busyto answer or couldn’t answer in a language that can be easilyunderstood," he says. In the end he believes he has developed aforex trading course that actually makes forex trading easy - aforex trading course for dummies. Why would he use the term ‘dummies?’ "Not to 'dis' the youngergeneration, but I hired a number of high school and collegestudents to test the program and the majority are nowsuccessfully trading on their own behalf. Those who are underageare using custodial accounts set up by their parents," he says."If they can do it with as little knowledge as they have, anyonecan do it." Unlike so many online forex training programs that sell theirclients training materials and then disappear, ForexInterBank’sprogram includes live, daily mentoring. Once students havecompleted the company’s interactive forex trading course, theyhave the means to actually watch and listen to ForexInterBanktraders as they walk through their own trades. "We believe thisfollow-on, real world training is what really sets us apart,"Keister says. "Our clients can actually listen in on real time analysis andwatch trades as they actually happen," he says. A few examplesof these live mentoring sessions can be viewed in the livetraining room at the company’s web site. "Visitors can see andlisten to eight of our past sessions," Keister points out. Day traders and investors wanting more information about JohnKeister and ForexInterBank’s educational services are encouragedto visit www.Forexinterbank.com. About the author:The author, Ron Scott, is a seasoned internet publicist whoprovides affordable publicrelationsservices to local, regional, national andinternational businesses.
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