The forex set forget profit system mark boardman

Mark Boardman’s Forex “Set & Forget” Profit System © 2013 by Mark Boardman All Rights Reserved The word phrases “Forex Set & Forget” TM and “Forex Break & Bounce” TM and “Forex Rebound” and “Forex Snap back” TM are trademarks of Mark Boardman and may not be used in any way, shape, or form, without the express written permission of Mark Boardman All intellectual property rights, including the Forex strategies and their mechanics of operation remain the property of Mark Boardman and may not be copied or emulated 2nd Edition, May 2013 To get access to a TOTALLY FREE Live Forex Trading Room visit his website: www.forextradermark.com Enter your name and e mail address in the form on the top right of the Home page and then click on the link Introduction Hi I hate “guarantees”, they sound so fake….however I am going to be a hypocrite and use one now: I guarantee that what you are about to learn will change the way you trade Forex….forever…… and for the better! So, why I am being a hypocrite in the first few sentences of my book? Well, the answer is that what I am about to share with you is two radical concepts I learned them about three years ago, and they completely changed my attitude to Forex Trading Most importantly, they allowed me to transition from a consistently losing trader into a consistently winning trader… WITHOUT spending any money! Until recently I ran a consultancy business Now I pay all my bills by trading Forex part time I only trade for or hours a week, and it is in large part because of what I describe in this book Consequently I can say with complete confidence that I guarantee that this book will change the way you trade Forex…forever So please read on, and whilst the book is relatively compact, I hope you will agree that the information it contains is extremely valuable and will help you take a step in the right direction towards a consistently profitable Forex trading journey If you feel that way having read it, and you purchased the book from Amazon, I would be extremely grateful if you would write a short, two line review on Amazon It takes two minutes I give instructions of how to write a review at the end of the book You can e mail me at mark@forextradermark.com if you have any questions about this book or my trading strategies and you can join a FREE Live Forex Trading Room where I demonstrate what you will learn in the book, here: www.forextradermark.com Thanks Mark Risk Disclosure What you are about to read in this book has changed my life I am now financially independent because of the system I employ when I trade Forex However, please note, and I repeat this many times in the book, that the system I use requires a ‘’skill’’ that can only be learned through practice The system is not robotic It is not a ‘’get rich quick’’ system On the contrary, it is a Forex trading system that has required a lot of discipline and hard work, and in return it delivers a good income for me I feel very strongly that the Forex Industry is flooded with individuals and companies that market products and services on the basis that you could make money easily and quickly, which in my opinion is wrong, and I explain exactly why in the book My subtitle is: It is very difficult to lose using this very reliable Forex trading system, and I maintain that to be the case The basis of the comment is proven in the book However, it is also very easy to lose if you not follow your trading plan to the letter and if you not learn the ‘’skill’’ required to implement any systems that you use Trading Foreign Exchange on margin carries a high level of risk, and may not be suitable for all investors The high degree of leverage can work against you as well as for you Before deciding to invest in Foreign Exchange you should carefully consider your investment objectives, level of experience, and risk appetite The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose You should be aware of all the risks associated with Foreign Exchange trading and seek advice from an independent financial adviser if you have any doubts Table of Contents Chapter One Radical Concept No.1 : Indicators ALONE will NEVER make you profitable long term Chapter Two The greatest feeling in the world is TIME FREEDOM Chapter Three Radical Concept No.2: The Forex market is NOT trending 80-90% of the time Chapter Four So why trade Forex? Chapter Five Don’t believe the hype Trading Forex is NOT complex Chapter Six My Indicators Chapter Seven My Three Forex Strategies Chapter Eight My Trading Track Record Chapter Nine The Forex “Set & Forget” Profit System Conclusion REAL trader testimonials About Mark Boardman Chapter One Radical Concept No.1 Indicators ALONE will NEVER make you profitable long term I trade Forex from home for about or hours per week So I am a successful and selfsustained part time trader However, here is what I am not: I am NOT a professional trader I am NOT a trading guru I am NOT a millionaire who has gone from rags to riches trading Forex I am NOT prophetic…I have no idea which way the market is going to go today I can take an educated guess, but I don’t have a Forex crystal ball One of the reasons for writing this short, but important book is that I am very frustrated, and a little angry I feel this way because for just over years I traded without making ANY money….NONE! During that year period I spent a small fortune on trading platforms, data feeds, trading software, trading signal services, trading books (including many of those you can find on Amazon) and hundreds of hours on forums and working with so called Forex trading ‘’gurus’’ Yet I didn’t have a single year of profit… and I am frustrated and angry because in hindsight I now know that I was NEVER going to make any money taking the route that I did I am a reasonably intelligent guy, yet I look back now in embarrassment at how easily I was seduced by the many sales techniques used by companies and individuals trying to make profit out of would be Forex traders Suffice to say for now that I was gullible, and I was so desperate to crack Forex trading that I was easy prey for the marketers who sell software and ‘’buy and sell’’ signal services What I now know is this one FACT: There is NO magic bullet in the Forex Industry Please take it from me, having traded for eight years There is no software program that will make you money There are no indicators that alone will make you money There are no ‘’buy and sell’’ arrows that will make you money To underline what I am trying to say here, let me make an observation: The big banks pay human Forex traders $millions in bonus payments every year for hitting their Forex trading targets If there was ANY software program, indicator, or signal service that made profits consistently, wouldn’t the banks use that and save hundreds of $millions in bonus payments? Of course they would The reason that the banks pay human Forex traders $millions in bonuses is that they know that there is not a magic bullet, and the REASON that there is not a magic bullet is that the Forex market is traded by humans, not machines or programs So humans, with human emotions are all staring at charts and making emotional decisions, which is why no program will ever be able to replace a good Forex trader Repeating Price Patterns The good news is that human Forex traders tend to react to certain situations and then make decisions in similar ways So there is a kind of “herd mentality” if you like, that is visible EVERY day in the Forex market This manifests itself in the form of what I call “repeating price patterns” that occur at particular price levels, and it happens in all timeframes, from minute charts to monthly charts Now, whilst these “repeating price patterns” occur all the time, they cannot be “forecasted” This is why banks still pay human Forex traders to trade charts The patterns happen in real time and a trader needs to be at the charts to see them and take advantage of them A computer program cannot “see” the patterns Only the human eye can So, it is absolutely possible to be a consistently profitable Forex trader, and you can make it by trading part time, a few hours a week However it takes some effort and in particular, learning of the repeating price patterns So my first radical concept is this: Indicators alone will NEVER make you profitable long term Only the human eye can detect and take advantage of the “repeating price patterns” that occur in the Forex market The market pulls back close to the support line and importantly it has remained above the support line The green candle does a 180 degree turn on the previous red candle The market, in one candle, turns around 180 degrees, which is why I call them 180’s This is then the ‘’set up’’ There is a 180 ‘’set up’’ only when this two candle pattern occurs Trade Entry I enter a ‘’180’’ trade when the market surpasses the high/low of the second set up candle In the above example the ‘’trigger candle’’ is the green candle after the green ‘’set up candle’’ So the candle I am looking to get past is always the second of the two ‘’set up’’ candles In the example above I am looking for the market to clear the ‘’high’’ of the second ‘’set up’’ candle, which it does immediately on the next candle, which you can see in the chart below: As you can see I enter almost immediately on the next candle as the market continues to rise and clears the high of the set up candle very quickly Stop loss and take profit I place a stop loss just below the lowest low of the two ‘’180’’ candles and a profit target of 1.5 times the distance from my stop to my entry, which is 48 pips, just below the next resistance line, as shown above I could also have placed the stop loss below the purple support line…that is optional with this strategy Note: the stop loss is always just beyond the ‘’other side’’ of the ‘’set up candles’’….or alternatively the other side of the S&R line It follows that I would have done the exact opposite for a short opportunity Take Profit / Stop Loss ratios The bottom line is that your take profit/ stop loss ratios can be whatever you want then to be I NEVER look for a ratio of greater than to 1, because I believe I am asking the market to give me too much when I that I settle for between 1.5 and to As long as I stick to this ratio of between 1.5 to and to then I can get more than half of my trades wrong and lose, but still break even That doesn’t actually happen but it’s still great to know that you can lose more trades than you win and still have the same amount of money in the bank Using this system if I get just over half my trades correct, I will ALWAYS win over time So as I say…… IT IS VERY DIFFICULT TO LOSE MONEY USING THIS FOREX TRADING SYSTEM However, the key to long term success is rule three…you must STICK RIGIDLY to whatever trading rules you decide on Ingredient 3: NEVER break your trading rules To reiterate my philosophy about trading…you WILL make profits consistently when you use three ingredients: Get just over half of your trades correct…which you will once you have learned to read the charts Have a take profit/ stop loss ratio that is ALWAYS greater than You stick rigidly and ruthlessly to your trading rules So, it actually doesn’t matter which strategies you use You can use my strategies or any other strategies As long as you achieve those three things you will always make money Sadly, many traders not always have the patience to this I was one of them traders, and as I have said many times, it took me years to snap out of the “impatience” habit The principle behind ‘’Set & Forget’’ is that you ‘’set’’ the trade up, and then literally ‘’forget’’ it and let the trade either win or lose There are a couple of circumstances where I not let the trade finish itself, but apart from that, I NEVER go back to the trade and terminate the trade early, no matter how it is looking If you break your trading rules I can almost guarantee that over time you will not succeed Trade without stress The principle behind “Set & Forget” is that you “set” the trade up, and then literally “forget” it and let the trade either win or lose There are a couple of circumstances where you not let the trade finish itself, but apart from that, you must NEVER go back to the trade and terminate the trade early, no matter how it is looking If you that you are breaking the trading rules, and I can almost guarantee that over time you will not succeed if you break your trading rules I was attracted to Forex trading for a number of reasons The main one was that I wanted to get away from a stressful job I loved my consultancy business, but it was still very stressful It would therefore be counterproductive for me to have a Forex trading system that is stressful My system NEEDS to me to be totally relaxed and at ease… otherwise I may as well continue with a stressful day job The only way to remove stress from trading is to set your trading rules in place, and stick to them I was attracted to Forex trading for a number of reasons The main one was that I wanted to get away from a stressful job I loved my consultancy business, but it was still very stressful It would therefore have been counterproductive for me to have a Forex trading system that is stressful My trading system must allow me to be totally relaxed and at ease…otherwise I may as well continue with a stressful day job The only way to remove stress from trading is to set your trading rules in place, and stick to them Set & Forget Caveats There are three scenarios where I exit a trade early They are: It is a Friday afternoon/evening I never leave a Forex trade on over the weekend That’s just a decision I made years ago and I decided to stick with it The Forex market rarely “gaps” in the week, but it almost always gaps on a Sunday night Given that my system is based on “reliable” chart patterns, gaps not fit into that category So that’s my first caveat for “Set & Forget” The trade is on a short time frame and is still “in play” and we have massive news coming up News makes a mess of “reliable” patterns, so that is the only other situation where I take a trade off the table Be careful with this though as you can get trapped into convincing yourself there is a big news item approaching, that isn’t really that big If you are in a losing position it is more tempting to get out early, and you may see a news item and think “Yeah that’s a big news item, I’ll pull out of the trade” That will ruin your results, so be careful which news items you choose when you are making these decisions to pull out of a trade early Here is an example of which major U.S news releases have an impact on the dollar, and by how much I don’t trade on a Friday so I am not affected by NFP If I am trading hour charts I am at ease because the chart patterns usually “absorb” the other news releases, though not always For hour charts and below I stay clear of big news releases I usually wait for the releases to occur, wait a while after the release, and then trade I always look at the economic calendar here: http://www.investing.com/economic-calendar/ …and look for the ‘’moderate to high’’ volatility news releases, and try to avoid the affected currency until AFTER the news is released In fact, after the news is released I am often presented with great trades using the Forex ‘’Snap back’’ Strategy where I find ‘’tails’’ and the blue Bollingers outside the orange Bollinger bands, meaning that the big news has actually overstretched the currency and it literally has to snap back Trading the news I have tried ‘’trading the news’’ in the past and found it far too stressful, but with the Snap Back strategy it is now possible to exploit big news releases, so watch out for a book I write about this in the near future The third scenario where I exit a trade early, instead of ‘’setting and forgetting’’ takes place when the market has created a NEWLY FORMED and ‘’opposing’’ pivot candle in a HIGHER TIMEFRAME….at some time after my trade is in play For example…if I am trading a hour chart and I am ‘’long’’ on a currency pair, then I see that at some point after my trade has been placed that the market has formed a ‘’pivot candle’’ in the hour chart, but the pivot candle is a ‘’down’’ pivot candle… then I exit the trade early I this because pivot candles are powerful signals of reversals, and since higher time frames are more significant, then when an ‘’opposing’’ pivot candle is formed in a higher time frame it suggests that the market is going to move against me I ignore ‘’opposing’’ pivot candles in the same time frame In this example, I would ignore an ‘’opposing’’ pivot candle that formed in my hour chart….but I take note of an ‘’opposing’’ pivot candle in the hour chart Here is an example to illustrate this: Above is a 15 minute chart There is a trade set up that is triggered at the points shown A stop loss is entered and a take profit target, as indicated by the red lines Now….although this trade did hit the profit target I exited the trade early because not long after the trade was placed an ‘’opposing’’ pivot candle appeared in the 30 minute chart….which you can see below: So, there were ‘’opposing’’ pivot candles that showed up in the 15 minute chart, but I ignored them I only take note of opposing pivot candles formed in a higher time frame I exited once the pivot candle had closed, which in this case was at about break even I use my Terminus PCI indicator to help me spot these pivot candles….the small blue arrows are all pivot candles, and an ‘’opposing’’ pivot candle is one where the blue arrow points in the opposite direction to which I am trading In the above example I am trading long, so I was taking note of the downward pointing blue arrow in the 30 minute chart Of course…the only reason I exited early was because I was still at the lap top On many occasions I literally ‘’set and forget’’ a trade because I close my computer and go to other things….so this caveat only applies when I am still at the computer, which is not that often This caveat will not make or break your trading results It is just something I take note of when I am at the screen I don’t worry about missing ‘’opposing’’ higher timeframe pivot candles when I am away….I just set the trade….and forget it!!! Conclusion Making profits consistently in the Forex market doesn’t have to be difficult, or stressful Unfortunately, most of us make it difficult and make it stressful for ourselves However, 99% of the time the stress is caused because we “search” for help and guidance on the internet and we succumb to the sales messages purveyed in the Forex industry If you have not made consistent profits yet…and my guess is that you haven’t otherwise you wouldn’t be reading this book…then I strongly believe that it is NOT YOUR FAULT Do yourself a huge favor and make today the first day of your new trading journey Do what I did…scrub the board and start again from scratch If you do, you will have a much better chance of making money Ditch all your previous indicators Get rid of the software with the green and red signals…and learn to read the charts Practice makes perfect I am bound to say this, because I want subscribers to my live trading rooms, but it is my unshakeable belief that to be a consistently profitable trader you have to practice, practice and practice for a few months before you can ‘’read the charts’’ well enough to spot the recurring price patterns that take place in the Forex market If you can that, then you have looked after the first ingredient of my trading success formula… which is to get more than 50% of your trades correct This is the most difficult ingredient to perfect Ingredients two and three simply require discipline…but ingredient one requires skill….a skill you need to learn, no matter how experienced you are As I have said lots of times already the ‘’skill’’ required is the one to be able to ‘’see’’ at a glance the CORRECT lines of support and resistance It is very easy to ‘’see’’ what you think is a significant support/resistance line that is NOT The eye can deceive you The ‘’tails’’ chart patterns I look for are very reliable when they occur at the CORRECTLY DRAWN horizontal lines of support and resistance However tails are NOT RELIABLE in-between these price points In my live trading rooms I go over drawing the S&R lines every day It really is the most important lesson I teach But in my opinion it can only be learned over a MINIMUM period of around three months It cannot be done quickly I know this because of the feedback I get from my members Some of my members subscribe and leave after a month thinking that they have ‘’got it’’ About half of them come back a couple of months later and re-subscribe However, almost NONE of my members that stay for or more months come back to me once they have left, and that is because they ‘’get it’’ In truth, some of my subscribers have been with me for many months, so it can take some people many months to ‘’get there’’ I admire those traders because they are resilient, which is a quality you need in abundance if you want to make money from Forex Trading Forex is not for everyone To be fair, trading Forex is not for everyone I get the occasional e mail from subscribers saying that they are going to give Forex trading a miss, and that is as gratifying to me as the e mails I get from subscribers saying that they that get it, because I believe I have saved those traders from potentially wasting thousands of dollars trying to crack Forex If you don’t crack Forex it will simply be because it is not suited to you I have tried painting as a hobby I have practiced and practiced and practiced, but I simply cannot paint….I am not an artist and never will be….painting is not for me, so after a while of trying I gave it a miss Is Forex trading really for you? If you want to ‘’get there’’ and have the skill to ‘’read the charts’’ then you can join my next FREE Forex Trading Room to see what I LIVE…then make your mind up if it is something you would like to try for the longer term If you like what you see you can subscribe and then practice, practice and practice, with me Then you can find out if Forex trading really is for you It doesn’t matter what experience you have I have traders who have never placed a live trade in my members’ rooms, and I have a 71 year old trader who has been trading for over 20 years Learn a life skill Being able to “read the charts” is a life skill Like riding a bike…once you “get there” you will have the skill for the rest of your life, and you will trade stress free It is a wonderful feeling knowing that you can make money without relying on anybody else It is a fantastic feeling knowing that you will never be without money again That is the prize for “getting there” So, to join my next FREE Live Forex Trading Room go to my home page and enter your name and e mail address in the box on the top right of the page I will then send you a link to the next free trading room I am running Here is the home page …yet again: www.forextradermark.com Did my ‘’guarantee’’ hold true? At the very beginning of this book I said this: ‘’I guarantee that what you are about to learn will change the way you trade Forex….forever…… and for the better!’’ I hope you found this book useful, and I hope that my opening statements hold true, which is that you will never trade quite the same again having read it If you have any questions please feel free to contact me at mark@forextradermark.com I hope to see you in my next free trading room Regards Mark Mark Boardman P.S.…if you bought this book from Amazon and you like it I would be very grateful for a quick one or two line review It’s really easy to Just go to the book again on Amazon when you are in your account… go to the page that describes the book…the page you looked at when you bought it…scroll down to the ‘’Customer Reviews’’ section and you will see a grey button that says ‘’Write a customer review’’ Click on that and it takes a minute to write the review The Amazon system will detect that you have already bought the book and will automatically direct you to a page where you can write a couple of lines Thanks Mark REAL trader testimonials It’s easy for me to PROVE that my method of trading works, because I run LIVE trading rooms every week and month So you can see for yourself the trades I take and have a look at my past trading record by viewing my weekly trading summary videos However, it’s nice when I get messages from my subscribers about how beneficial they have found it working with me Here are a handful of real testimonials I have had from my subscribers…some of whom are still with me Dear Mark I have really enjoyed participating in the Trading Rooms and have learnt a lot during that time I have been involved for over months and feel the time has come to fly solo from here My trading has become far more measured and consistent which in no small way is due to your guidance Many thanks and keep in touch Best wishes Peter Skinner (Now a full time trader) Trading Education how it should be no gimmicks, just patience, hard work and discipline required to follow an excellent teacher Jonathan Peers Mark Boardman is a very good educator and trader Having been an active trader for almost forty years Mark has taught me a few things Support and resistance have taken on new meaning I never place any trade without being keenly aware of support and resistance as taught by Professor Boardman Paul E Nader Snr In the strange, twilight world of Forex, where the unsuspecting novice trader is likely to prove easy meat for the conmen and predators that feed in the depths, Mark Boardman is a refreshingly straightforward and honest individual He tells it like it is He is also an expert chart reader There is no easy route to success in this market, but if the trader is prepared to hone his skills in the art of chart reading over many months, then, with Mark's help, he will begin to spot the best opportunities and improve his trading accordingly I have been trading Forex for five years, and Mark is certainly among the best mentors I have come across His trading rooms are suitable both for beginners and those with more experience, but who have yet to find their 'edge' Tom E His relaxed and informal teaching manner is easy to digest He is clear and willing to repeat explanations, so very welcome for a newbie like me! Andrew About Mark Boardman Mark Boardman’s background is as a businessman From 2003 until recently he ran his own businesses He once had a business in the telecoms industry and more recently a “business training” company Now he ONLY trades part time, and runs his Forex Trading Rooms As an ex Sales & Marketing trainer he is passionate about ethical selling He is the author of a bestselling sales book named The Cold Calling Secret, which he wrote when he ran a telecoms business The book has remained the Number bestselling book in the Telemarketing section of Amazon for many months His passion for ethical sales is one of the reasons he now runs LIVE Forex trading rooms He is dismayed at the amount of mis-selling in the Forex industry and is determined to help as many Forex traders as he can to become independently successful and shielded from the questionable sales tactics used in the Forex marketplace He lives in the Manchester in the Northwest of England He is 48 and has two grown up children His third “child” is his beloved Border Collie Dog called Spot His interests and passions are: Interests Football( soccer) Music Physics Psychology History (in particular of war) Forex trading Marketing Health & Fitness Natural Supplements Passions Playing Guitar and writing songs…he wants to release an album in the next year His kids His partner Tracy His dog Spot Stopping the mis-selling in the Forex industry Manchester City Football Club a side football ( soccer) which he plays twice a week He can be contacted at any time by e mailing him at mark@forextradermark.com