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THE ULTIMATE FIRST STEP

BLUEPRINT

DISCOVER 6 SIMPLE STEP BY STEP START-UP

GUIDE TO LEARNING HOW TO TRADE FOREX

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 WARNING! IMPORTANT READ BEFORE YOU PROCEED
CONSUMING THE CONTENT!

The information contained in this book is for education purposes only. How you use the
information is solely up to you.
While www.mikeperlas.com and the author Mike Perlas takes every effort to accurately
represents the information’s along with author opinions and insights to guide and help
aspiring traders just like you, your results may vary and will be based on your individual
capacity, experience, expertise, level of confidence and how deep your desire is.
Each individual’s success depends on his/her background, dedication, goals and
motivations.
Losses in FOREX TRADING can exceed deposit or investment.
The high degree of leverage can work against you as well as in your favor.
You must be aware of the risks involves and be willing to accept it in order to trade in
FOREX.
Forex trading is not suitable for all investors because it involves substantial risk of loss. It is
highly recommended to study first and due your own diligence.
If you will proceed to trading, it is highly recommended to put only the amount that you
are willing to loose.

FOREX TRADING DOES NOT GUARANTEE ANYTHING or THAT YOU WILL MAKE MONEY.

DO NOT invest your money to a person or entities that does offer you a guaranteed
return. DO NOT invest your money to the instrument that you DON'T UNDERSTAND.
You have to learn and acquire knowledge so you could trade on your own terms.

The author and owner of www.mikeperlas.com has the right and choose NOT to disclose
or show any of his earnings and trading statistics/results to avoid bragging, hyping and
attracting people who has the get rich quick mentality.

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The sole purpose is for the aspiring traders to eliminate unrealistic expectation and avoid
thinking first the money that they will earn as it has a huge impact on the people trading
mindset and psychology resulting to substantial loss and instead focus first on the process
and journey on how they can successfully establish a profitable trading business.

There is no assurance that examples of past earnings can be duplicated in the future. We
cannot guarantee your future results and/or success. There are some unknown risks in
investment and on the internet that we cannot foresee which can reduce results.

MikePerlas.com and its owner is not responsible for your actions and decisions.
The use of our information, products and services should be based on your own due
diligence and you agree that Mike Perlas and his website www.mikeperlas.com is not
liable for any success or failure of your investment/trading that is directly or indirectly
related to the purchase and use of our information, products and services.

As with any investment endeavor, there is an inherent risk of loss of capital and there is no
guarantee that you will earn any money. It’s up to you to decide what level of risk is
appropriate for you.

Mike Perlas and His website (www.mikeperlas.com) is NOT a BROKER, NOT an

INVESTMENT COMPANY, and DOES NOT OFFER/SOLICIT ANY INVESTMENT.

MikePerlas.com is NOT LINK with any entities providing financial services inside/outside
the country.

Any advice or information on this book and his website is for general information only.
MikePerlas.com is an EDUCATIONAL WEBSITE providing general information in the form of
blog contents, digital, video course and training materials to help you equip the right
knowledge based from the author/founder's experience.

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 IS THIS A GET RICH QUICK SCHEME THAT PROMISES A RETURN 30%, 50%,
100% A MONTH DOING NOTHING?

Yayaman ba agad ako dito? Is this a type of business that I need to invite someone to join
in order for me to earn commission and get paid?

Or do I need to invest an amount with a guaranteed monthly return?

Does it requires promotional campaigns just to earn?

O baka naman, it’s a scam?

I get it, I feel for you, we have the same feeling and thinking before when I first learn about
this business. I was still ignorant about the online thing. I don’t know how I could start. I
am not a techie guy.

But I’ll be HONEST with you as much as I want to help you;

This book is NOT for you if:

 You want to only get rich quick.

 You expect results without putting effort
 You cannot afford to spend a single dime as the cost of running your business
 You think that running an online business is for those with professional degrees only
 You are not coachable or not willing to learn

This business is actually not for “everyone”, and there is NO GUARANTEED that you can
also earn money or that we can have the same results. We have different mindset,

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emotional state that drives as to put an action. We have different reasons why that strives
us to move forward.

The only thing that we have in common is that, we can learn and improve, we have the
same “time”, that if use wisely, it can generate a huge impact to us.

What I can guarantee you is that, if you put an effort and be committed, you can learn a
business that can generate a lifetime income for you. This is a real business where you
have to learn, develop skills and work hard to earn.

IS THERE REALLY ANOTHER WAY TO CREATE MORE INCOME?

Just any other employees out there, I was groomed to be a corporate employee,

I study hard, graduated with a Bachelor’s Degree in Engineering, I work hard to climb the
corporate ladder, been working about 10 years now, but feel stressed, over work and burn
out. I still feel empty, lack of direction and worry about what will be my family’s financial
future.

I need to extend countless of hours overtime just to increase my income, I even work early
in the morning and considered as an early "overtime". I repeat the cycles over and over.

But this kind of working style would not last, my body cannot withstand about 12-14hours
daily work without breaking down or being sick? Surely Not!

As an employee, we are trading our time in return for profits. Our monthly salary is based
on the total hours we have spent on working. So logically, the more hours we work, the
more income we can get.

But the problem is, we only have about 12-14hours to work, we have a limited time, which
means our income is limited.

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Can you survive working more than 14hrs every day? The reality is we cannot. Can you
survive with a limited income? We can survive, but the question is, how long it will last?

I know I am not alone, I know that while you are reading this, you can relate yourself to
me.

Is there really any other way to create more income?

This is the question I keep asking, what is the secrets of those rich person? Why they are
consistently making more money months after months? What is the source of their
income?

I envy those people who drives a nice car, those who are leaving in a high end
subdivisions, and those who always travel.

How do they afford it? What is their secrets? What are common to them?

One word to answer all above question is;

“Business”

This is what I learn from the book of Mr. Robert Kiyosaki,

That the one common thing that rich and successful people have when it comes to
financial is that they have an unlimited income through their “Business and Investment”.

Rich persons owns a business that gives value in return for an income, if they give
unlimited value, they will be rewarded of unlimited income.

Do you know a person who is rich being an employee? If you know some, I bet they are
not enjoying their money,

Why? Because they have a limited time. They spend most of the time working, and it is not
really worth it.

But those business owners, they spend only limited of their time and physical effort and yet
earning unlimited income.

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Most of us employee, the problem is money, so let us solve it by making more money.

But how? I still have an 8-5 day job.

This is the bad news, most of the employees wants to start a business but they don't know
what to do? They don't know where to begin? They don't know how to start?

To tell you honestly, this is not a problem anymore.

And this is how I started looking for ways how can I own a business while keeping my job,
to finance my day to day expenses and business needs.

I can make money while keeping my effort on my 8-5 tiring job, and I just need to spend
about 15-20mins twice or thrice per day.

But before I share it to you, I want to introduce myself. I am Mike Perlas, I am Filipino, a full
time corporate engineer, husband and father. I am part-time business owner, part-time
Forex Trader, a stock market investor/trader, an author and a part-time blogger.

MY PERSONAL STORY

Like any other, I was groomed to be a corporate slave, took the same path as other that I
have to study hard to get a best and high paying job. I was born poor but able to finish my
studies because someone is with a good heart to support me, “how lucky I am”. And I am
thankful to them, I cannot pay them but I will be forever be grateful. After I graduated as
an Engineer year 2009, immediately I got employed, and I was thrilled because I am finally
a professional earning money.

But after 6years of being an employee, I been into 2 different companies already seeking
for better work environment, a higher position, income and slightly I got that on my 3rd

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company which is my current as of this time of writing. I have travel 3 different countries
already all-expense paid by my company (work need actually)

But still, I feel become restless,

Every morning, I have to drag my feet to eat, get dressed, and rush to work.

Every afternoon, I am constantly looking at the clock, hoping its 5PM so I can go home
and rest.

Every day my daughter’s ask me, “daddy, can we play today?” Do you have work today?
Can you stay at home so you can fetch us from school?”

How hard it is to answer and the feeling and emotion are almost breaking my heart?

But I have to continue working for them, and hoping to make life better,

I felt the corporate world, with all its stresses and so-called opportunities,

I figured a higher salary will make me happy.

But I was wrong!

And the struggles continues when;

I became "Jobless" for about 6 months.

Back in 2014, my family and I struggle financially for almost 6 months, leaving almost no
money for us to survive in our daily needs.

Back then, we are leaving on our own, but since we struggle hard financially, we decided to
move back to my parents’ house, since we are no longer capable of paying the monthly
rent of our apartment.

I was a burden for my parents because it took me about 6 months to get another job. Back
then, my 1st child is 3 years old and my youngest turning 1 year old.

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Although they don't even understand yet our situation, but it breaks my heart everytime I
will remember those days that I cannot provide the things that they really need at their
very young age.

My wife was forced to study how to "sew" a school uniform, just too at least earn a little
extra to help my daughters need.

I saw and feel my wife struggle, I feel very frustrated, stressed because it is not the life that
I want for her. In the early years of being together, she already suffer and experience the
test of life which we don't really expect to happen.

I was very thankful for my parents, my sisters and especially to my wife who already have
an option to leave me during those times. But she never failed me, she was very supportive
and always telling me to hang on. "malalampasan din natin to"!

I have no choice but to accept the reality and keep pushing hard to get a job as quick as
possible.

And in the same year of September 2014, our prayers has been answer.

I got a job as a Manufacturing Engineer in a Private Company till today.

For 6 months, I have nothing else to do because I don't have any other skills, I don't have
any ideas about business. I do not know where I should start.

And that's when my journey started. I have promised to myself that those 6 months of
struggle will never ever happen again.

I started acquiring and developing another skills that help me generate additional income
while keeping my 8-5 day job till today.

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I was fortunate enough to give a chance to travel on different countries such as Japan,
Hongkong and China that gives me a way different perspective to really pushed hard and
achieve success.

During my 1st travel in Japan, I work there as an inter-company transfer for about
6months, on my 1st month it was already a stress, I feel homesick, feeling and wanting to
go home already.

Pero hindi ako nagpatalo sa homesick,

I maximize my spare time to learn, study and researching valuable information how I can
earn an additional income.

And that is when I discover a lot of opportunities when I read the book "RICH DAD POOR
DAD" by Robert Kiyosaki.

While reading the book, I felt the heavens opened up and there is something whispering in
my mind revealing to me why I was always discontent, why I was always restless.

From that book, it reveals that the JOB security is “BIG LIE”

I was thrilled and feeling motivated when I finished reading the book because I felt there is
still a chance to escape the corporate world.

And that’s is to build multiple sources of income, establish a business, invest on the paper
assets.

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Days after I have read that book, I started to find several ways to earn extra income, been
jumping and searching on the web, reading on the forums. Until I found an interesting
topic about Trading Currency which is “FOREX”.

Everyone in the forum are posting their earnings and I was amazed that in a matter of
hours they are earning a hundred dollars to a thousand dollars and above.

And some became fulltime and was able to consistently earn, forex is become their
lucrative career already doing just in the comfort of their home.

I was thrilled by then and I feel amaze that maybe this will be the answer on my prayer,
this could be the extra income I am looking for while I am still working and saving for our
future.

While in Japan I studied as much as I could learn related to “forex trading”. And back in
July 2015, I was able to start “Demo trading”, only a virtual currency provided by a broker. I
was excited, thrilled and amaze.

….to cut it short,

After two months of Demo trading, I jump in live, and open an account,

….and that’s when an endless opportunities begin.

And that's when I started gaining skills in Investing and Trading, (Stock Market
Investing/Trading and FOREX Trading) and last year 2018 (September), I am also starting to
build my own Digital Business.

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Because of that skills, I was able to make an extra cash $1,000 - $2,000 per month or 50,000
to 100,000 pesos per month kahit I was having an 8-5 day job (mas Malaki pa sa sweldo ko
as an employee)

Here are some of my recent withdrawals:

“INCOME DISCLAIMER”.

Results may not be typical nor expected for every person. I’m not implying you’ll duplicate (or do anything
for that matter) whatever income figure stated on this ebook. This is not a "get rich quick" scheme. Person
who buys any “how to” information but DOES NOT take any ACTION gets little to no results. I’m using these
references for example purposes only. All information provided on this book is based on best practices and
for educational-purposes only. You have to understand that our results may vary depending on many
factors...including but not limited to your desire, background, knowledge, experiences, and application.

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Because of that skills also, I was able to fund 50% of my 2nd hand car purchased.

“Meet “kilo”, my 1st ever car!! Colored inspired by Trading Chart… This was absolutely a life
changing opportunity na binigay saken, na I could never imagine na makukuha ko.. kc with
my personal background, from a poor family.. suntok sa bwan samen ito.

I was a very frugal person, but I bought this not because I want or we just need it, its
because I can now afford it.

Kung hindi dahil sa pagsisikap ko to really improved un pamumuhay namin back then,
wala sana ako nito.

And this trading skills really help me and change my life and obviously opens a lifetime
income opportunity.

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 This is not to hype or brag anyone, but this is just a living proof na kung nagawa
ko..magagawa mo rin, considering ‘yung pinanggalingan ko.

I can easily make an extra income in just 1 day or even in a week doing it for part-time.
Part-time means, I don’t need to check or monitor this in a day.

$500 Profit in
1 Day

$2900 Profit
in 1 Day

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Ilan lang yan sa mga previous and recent trade results ko, I have a compilation of that. I
know hindi ka pa familiar about that, but after reading this free guide, just return or balikan
mo ito para mas-appreciate mo.

The result above will vary depending on each person and many factors such as individual
capacity, experience, mindset/psychology, amount of capital so on and so forth. I know for
some of you it is too small, but for me coming from a poor income family with no
background about business, zero knowledge about the online thing and started with a
small capital, it is really really huge for me as it gives me an opportunity, it really shows me
a potential to earn income doing just 1-2hrs per day. I gain and learn a lifetime income
skills that offers me a lot of opportunities.

“Pero Mike”, Why Choose Forex Trading? Bakit sa dinami-dami ng business

opportunities out there, ito un napili mo? At Anu nga ba itong FOREX Trading?

Trading Currency Online is the Easiest and Fastest Way to Own a Business

What is FOREX TRADING?

FOREX is a short term for FOREIGN EXCHANGE.

For us ordinary people, it is easy to explain as the exchange of one currency to another if
you travel to different country. The first thing you do when you arrive on the airport is to
exchange the “physical” currency from your original country to your visited country. If you

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have a US dollar and you have visited the Europe, then you have to exchange the $ to
euro (which is the currency of Europe).

Sa ating mga ordinaryong Pilipino, this is like a MONEY CHANGER, if you have a relative
abroad na nagpapadala ng mga remittances, chances are, you need to exchange that
currency into Philippine Peso para magamit at magastos mo sya dito saten.

“Narinig mo na siguro sa balita sa “TV Patrol”. “Bumaba ang palitan ng PISO kontra
DOLYAR”.

It is the same thing and is common most especially to our OFW.

Forex is a large financial market and can be defined as the international currency exchange
which is a very unique in the essence of it is everywhere regardless of time zone or
geographical location. In contrast with the actual currency exchange happens in the airport
or any money exchange establishment, in forex market, all instrument, major currencies
and others are NOT physically exchange between another but are traded virtual through
online transaction.

In Forex Exchange market, the main objective is to “TRADE” currency of each country in an
agreed “rate”.

Each foreign currency are identified with a unique 3 symbol;

EUR – Euro (Europe),

USD – US Dollar,

GBP – British Pound,

JPY – Japanese Yen,

NZD – New Zealand Dollar,

AUD – Australian Dollar,

CHF- Swiss Franc.

CAD- Canadian Dollar

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Currencies are “quoted” and traded in “pair” because one currency should be “sell” in
order to “buy” another.

Below are the major currency pairs traded in the forex market:

EUR/USD – euro versus dollar

GBP/USD – British pound vs dollar

USD/JPY – us dollar vs Japanese yen

NZD/USD – new Zealand dollar vs us dollar

AUD/USD – Australian dollar vs US dollar

USD/CAD – US dollar vs Canadian dollar

USD/CHF – US dollar vs Swiss Franc

In a pair, the first currency is what we called “base currency” and the second is the quoted
currency:

Ex. EUR/USD

EUR – base currency

USD – quoted currency

When you are buying currency, you are always buying the base currency in exchange with
the quoted currency. Meaning, if you have a lot of USD in your hand and you want to add
more EUR, you are simply exchanging USD to EUR. Buying EUR and Selling USD.

In the event that you need more USD, you are simply “SELLING” the EUR in exchange to
USD, make sense?

Example:

The exchange rate for EUR/USD is 1.2355 (this may change)

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 That means you need 1.2355 USD to “buy” 1 EUR and also if you “sell” EUR, you will
get 1.2355 USD.

So,

HOW CAN I MAKE MONEY TRADING?

Are you familiar with Buying Low and Selling it High? The difference between the two is
your margin or profit? It same the same thing!

It is like you are buying a currency habang mababa pa ang palitan, at ipapalit mo sya or
you’ll exchange it kapag tumaas na ang palitan.

It is the same as the Buy and Sell Concept sa palengke or other types of business na you
will buy an item in a low price then sell it on a higher price. The difference from the price
when you buy it low and the price when you sell it high, that’s your profit. Make sense?

Some of our OFW’s our very much familiar with this, they take advantage of the exchange
rate, if alam nila na mababa pa ang palitan ng piso versus sa dolyar, hindi muna nila
ipapadala or ipapalit ito, what they were going to do is to wait again for the exchange rate
to increase.

If example nakapagpapalit ka before ng $1,000 sa halagang 45pesos per dollar. And as of

this writing, the exchange rate of 1 USD to PHP is now at 51 pesos. The value of your
$1,000 is now at P51,000 whereas nakuha mo lang sya sa halagang P45,000. Make sense?
Ibig sabihin tumubo ka na ng P6,000 (51,000 – 45,000) if you wish to exchange it already in
peso.

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This is the same concept in FOREX Trading, but it is transacted online. You don’t need to
go to any money changer, because as I’ve said you don’t need to own it physically. You
can do it anytime in weekdays, as long as you want and anywhere you want.

There is a platform that you will use to execute all your trading transaction, it just like an
application that you need to install in your computer.

In FOREX Market, trading happens and transacted online, meaning you don’t need to
physically own a currency and exchange it over the other.

Here is the example of the Trading Platform on where you can transact the Buying and
Selling of Currency.

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Don’t worry about the technicalities sa paggamit ng platform, it is easy and very user
friendly. Ganun din ako noong una, kala ko mahirap, kelangan mu lang talagang subukan
at i-familiarize.

Basically, the above illustration is the mt4 trading platform, where you can monitor the
market price (exchange rate) of currency pairs. It is a free downloadable software that you
need to install on PC, laptop and meron din itong mobile application.

In Forex Trading, you can do both BUYING and SELLING, it means that you will not only
Buy at a lower exchange rate and Sell it when the exchange rate rises.

Let’s take an example in the real forex market terminology

In forex market, the currency exchange rate are mostly quoted in 4 decimal places and in
the above example the base currency always has a value of “1”.

1 EUR = 1.2355 USD

“Pip” is the lowest price change, it allows to measure the difference in the exchange rate of
currencies.

1pip = .0001

2pips = .0002 etc.

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 Ex. If the EUR/USD exchange rate of 1.2355 becomes 1.2360, exchange movement is
5pips (1.2360-1.2355). This is the minimum price change possible.

Currency is usually traded with a standard lot size of 100,000 units of the base currency.

Contract lot sizes:

In calculating “Forex Profits:

The dollar value per pip in a standard lot is $10, this is for most of the common actively
traded pair which we call major pairs, EUR/USD, GBP/USD, AUD/USD, NZD/USD.

This dollar value per pip are always available on the internet because it is changing.

In this case, let’s take for example for EUR/USD:

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So for a standard lot of EUR (EUR 100,000), the dollar value per pip is $10 and for a mini lot
of EUR (EUR 10,000), the dollar value per pip is $1 and $0.1 dollar value per pip for a micro
account.

Let’s put an actual representation:

We are going to buy when the EUR/USD exchange rate is on an increasing trend.

Below is the actual market price chart which is illustrated by a white and black filled
candles representing the opening and closing price or the changes on the exchange rate.
And below represents each daily closing price.

SELL EUR/USD
at 1.2290

BUY EUR/USD
at 1.1760

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In the above example, we are buying standard lot of EUR/USD at 1.1760 and selling it a
1.2290,

1.2290 – 1.1760 = 530pips

Profit/Loss = Number of pips x $value per pip x number of lots

= 530 pips x $10 x 1 std lot

= $5,300

Another way to explain is that;

We are Buying EUR 100,000 and pay USD 117,600

And Selling EUR 100,000 and we receive USD 122,900, with a total profit of $5,300.

Now in forex market, you can also “Sell at a higher price” then Buy it back lower. In a
simple term, we are just selling or exchanging the quoted currency to return it back on
your base currency

We are “Going Short” because we are expecting that the exchange rate of the EUR/USD
will go down.

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 SELL EUR/USD
at 1.2373

BUY IT BACK
at 1.1891

In the above example, we are selling a standard lot of EUR/USD at 1.2373 buying it back at
1.1891. We are simply exchanging the USD back to EUR again. When you execute a sell
trade, basically the broker will lend you the amount of quoted currency you traded.

1.2373 – 1.1891= 482pips

Profit/Loss = Number of pips x $value per pip x number of lots

= 482 pips x $10 x 1 std lot

= $4,820

Another way to explain is that;

We are selling EUR 100,000 and receive USD 123,730

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And buying it back and we pay USD 118,910, with a total profit of $4,820.

It is just a simple concept of exchanging 1 currency to another in attempt to make a profit

expecting that the exchange rate will go lower or higher.

Now, let’s check out how much profit when using a mini and micro lot.

On a simple explanation, going long at 1.1760

We are buying a mini lot EUR 10,000 and pay USD 11,760

And selling EUR 10,000 and we receive USD 12,290, with a total profit of $530.

With a micro lot, we are simply buying a micro lot EUR 1,000 and pay 1,176 and sell it to
receive USD 1,229 to make a profit of $53.

Does make sense now?

That’s basically how you can generate profit in the forex market.

BUT….

…You might probably asked?

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To buy 1 standard lot of EUR do I need to pay $117,600? Likewise if I buy a mini lot (10,000
units worth of EUR) do I need to pay $11,760 and for micro lot (1,000 units worth of EUR)
does it mean I need to pay $1,1760?

Whoah!!

I don’t have that capital mike…

Forex Trading is too way expensive for an employee like me..

In forex market, you can use a small amount of money and be able to borrow money to
purchase a large amount in the market through what we call “LEVERAGE”.

Leverage is the amount of money that the broker is going to lend you to execute your
chosen trade size.

It is like a concept of loaning a car or a house in the bank, you will only put a certain down
payment to own it and the rest of the amount will be provided by your bank, which you’ll
going to pay through mortgage.

If you remember our example above with a standard lot size (EUR 100,000 units) we need
to pay about $117,600 to execute our trade, about $11,760 for a mini lot and $1,1760 for a
micro lot.

But where the hell are we going to get that huge money? Nah, mike, I cannot open a
trading business with that kind of amount.

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The forex market has a solution for that and that is the power of “LEVERAGE”.

Leverage has the ability to control a large amount of money using none or very little of
your own money and borrowing the rest through the broker. Leverage are determine by
ratio such as 50:1, 100:1, 200:1 etc.

With our example above of buying units of EUR at an exchange rate of 1.1760 versus USD.

In the above table, with 100:1 leverage (which actually is the most popular and used by
traders), we only need to pay $11.76 to control or trade about 1,1760 units worth of EUR,
likewise for a 1 standard lot (117,600 units), you need $1,1760 and $117.60 for a mini lot
(11,760 units).

Hope it make sense!

So if you have $100 in your trading account, with a leverage of 100:1, it will give you the
power of $10,000. If the value of your open trade moves up to $10,100, you gain 100% of
the profit, which will be $100. The leverage in this situation gives you the ability to earn 100
times more than the capital you put down.

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The reason why leverage and forex trading is so popular is you are not required to have
$10,000 capital to invest.

But as expert are always saying, used of leverage are like a double edge-sword, if you earn
100 times more than your capital investment, it will likely be the same as when you lose. So
it is highly recommended to employ a proper risk management and do not use the
leverage too much.

And as a reminder, Losses in trading with high leverage and margin could exceed the
deposit.

ADVANTAGES OF TRADING CURRENCY ONLINE (FOREX TRADING)

 Liquidity – Since forex market is the largest financial markets of the world with
about $4-$5 trillion currency exchanges and transactions everyday, it is expected to
have big volume of transaction every day (24hrs/5day) which result to higher
liquidity. And the higher liquidity the higher the demand and more opportunity to
buy, sell and trade.

 Volatility – Forex market are very volatile (pabagu-bago) because of the real time
events that affects the market in any given time. This possess a higher opportunity
to earn profits from trading the currency. But, you must understand the “RISK” that
it can give.

 Accessible – Forex market is very accessible since it does not have a physical
establishment or a store, it is 100% online transaction. You can access this

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 everywhere, anytime you want. All you need is a laptop or mobile phone, internet
connection, a trading account and a trading platform where you will execute your
buy and sell trades.

 Doesn’t Requires a Big Capital To Start – In Forex trading, you don’t need to have
hundreds of thousands to start as compared to a traditional business. You can start
trading with only about $100 - $1,000. However, you should not expect first to
immediately get a huge profit. The strategy is to build your capital slowly through
the power of compounding.

 Flexible – Since the forex market operates 24hrs and 5days a week, you can set your
trading business or your trading hours depending on your schedule. If you are an
employee like me, I wake up as early as 4:30 am (Pacific Time) every day, and doing
about 15-30mins of checking, analysing the price chart. If there is an opportunity to
buy and sell, I just execute and leave it then just check my trade again after my
work or the next day.

Here’s an example daily market exchange rate or price chart, every bars on the
chart represent a whole day summary of price changes.
It simply means that, you can execute a trade today, leave it and check it back again
the next day.

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 It can be automated – On the trading platform, you can just place an order with
your target exchange rate or price and will only execute if it reach it.
Same with placing a price target to take a profit, when that target price is hit, it will
automatically close your trade.

 No Cost to Start – Before you jump in to the live trading, every brokers offers you to
open a “Demo Account” first. Basically a demo account is funded by a virtual
amount that you can use to start trading without spending a little amount of your
own money. It is necessary to practice first and familiarize how you will navigate on
the trading platform before you jump in a real live trading. Demo account will help
you develop a necessary trading skills that you need, your business strategies on
how you can make profit.

 Fast and Easy way to fund and withdraw profits - when it comes to funding your
account, most brokers offers a wide variety and method such as Credit/Debit
VISA/Master Card, through online payment process such as Skrill, Neteller, Payco,
and Paypal etc. You can fund also directly from your local bank but it requires a
huge amount of transaction. Same goes when you are withdrawing your profits, the

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 method you used to deposit on your trading account must be the method also on
withdrawing it.

 No Need to Quit Your Job Yet – Forex is the largest financial market in the world,
which means there will be a lot of opportunities every day, as long as there is a
currency that is exchanges every day the market will be there. It offers flexibility on
trading, you can trade before and after you work. You can check your trading
account on your preferred schedule and trade with it while slowly building your
income.

 Minimal Charges – Opening your trading account will be on a broker which will be
the gateway to the financial world market, forex is transacted online through a bank
network. And those brokers will only charge a small commission based from the
spreads and it is normally a fixed amount. In the case of EUR/USD, I usually
deducted about $0.18 but this depends on the currency pair and the broker itself.

 Trade anywhere you want – Forex market is accessible online, you can trade
anywhere, you can check the price chart even if you are traveling outside the
country. You can trade while you are enjoying your coffee on your favourite coffee
shop, you can trade on the beach as long as there is an internet connection.

 No Employees / No Rentals / No Inventories – As compared with the traditional

business, forex trading does not require employees to run your business, you don’t
have to rent a place to run it and especially no inventories to monitor and maintain.

 You are ahead and aware what is happening in the world – This is what I love about

trading foreign currency, you will be aware with what is happening on the entire
world, you’ll understand each foreign country’s economy. You’ll get a chance to

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 own each foreign currency, even if it is not physical. You will have a better
understanding on what is happening on most of the powerful countries such as US,
Europe, Australia, UK, China etc. You will gain such confidence that you are ahead
with others.

BUT JUST A FRIENDLY REMINDER AND DISCLOSURE

However, like any other business out there, Trading at the FOREX Market doesn’t
guarantee that you will also make money. Your results may vary and will be based on your
individual capacity, experience, expertise, level of confidence and how deep your desire is.

Each individual’s success depends on his/her background, dedication, goals and

motivations.

I don’t want to stop your dream to also earn extra income just like here in forex, but you
must be aware that, Losses in FOREX TRADING can exceed deposit or investment.
The high degree of leverage can work against you as well as in your favour.
You must be aware of the risks involves and be willing to accept it in order to trade in
FOREX.
Forex trading is not suitable for all investors because it involves substantial risk of loss. It is
highly recommended to study first and due your own diligence.

If you will proceed to trading, it is highly recommended to put only the amount that you
are willing to lose.
FOREX TRADING DOES NOT GUARANTEE ANYTHING or THAT YOU WILL MAKE MONEY.

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DO NOT invest your money to a person or entities that does offer you a guaranteed
return. DO NOT invest your money to the instrument that you DON'T UNDERSTAND.

Make sure that you first understand it before you even try it. Anyways, kahit san man parte
n gating buhay, RISK is always there, we cannot avoid it. And kung hindi ka susubok or
magtatake ng RISK, wala kang makukuhang kahit na anung resulta.

You just need to be equipped by right knowledge, right approach and understanding it
realistically so you could manage the risk that in return will help you gain more money.

So….

HOW DO YOU START TRADING?

I’ve been trading for quite a while now while still keeping my 8-5 day job and it’s been a
long story how do I get here making a decent amount of extra income trading forex.

And I know that while you are reading this, you do have an 8-5 day job also looking for an
opportunity how you can increase your income.

Here is some of the things I’ve done before when I start trading.

Step 1: Educate Yourself First about the BASIC of Trading – (FREE)

In this step, you’ll have to make an effort to at least learn as much as you can about the
BASIC. Basic foundation and understanding about trading really matters, don’t bother
about the overwhelming information that you’ll encounter along the way. Most of them

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will just confuse you and does not really help especially for a beginners. There are a lot of
information over the internet that will persuade you and especially some mis-leading one.

To help you with this, below are the links that you need to read from a “TRUSTED FREE
WEBSITE”. Yes, it is FREE, and don’t worry, I am not an affiliate with this website, it just that
I also started here and I’ve already tried what works and what doesn’t and those that you
need only to start.

Go ahead and click the link below:

(1). https://www.babypips.com/learn/forex/preschool (Read All)

(2). https://www.babypips.com/learn/forex/kindergarten (Read All)
(3). https://www.babypips.com/learn/forex/elementary (Read All and skip FIBONACCI and Popular
Chart Indicators).
Don’t skip them, you have to really find time to learn and read all the above if you are
serious about making money in trading. You can finished that in less than a week to 2
weeks if you will really focus on it. Just a lot 1-2hrs of your time after the work and a lot as
much time as you can during weekends when you don’t have work.

“The first step will always be the toughest and hardest one, but it is only the way to reach
the next steps”.

You’re lucky because finding this ebook will already help you to shortcut your learning
process. And as a bonus, if you read this until the end, I’ll give you a secret link so you
could further reduce your learning process.

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Step 2: Practice Trading – (FREE)

This is what I like about trading, you don’t need to spend any money just to try it out and
see if it’s really worth my time and effort. You can open a “demo account” from the broker
of your choice.
Basically, brokers will be our gateway to the world market, they will be in charge on
transacting our orders through a trading platform, which is the mt4 (the one I share to you
earlier). Brokers is in charge on handling our account, basically like they are the banks of
the retail traders.

Here are the simple step on opening a demo account:

1. Go to any “Forex Online Broker”, if you still don’t have a preferred broker, this might
be a good start, just click and follow this link ICMARKETS. You don’t have to follow
my recommendation, it just that, it is my current broker who handle my account.
You have the options to choose yours, however, you have to choose it wisely as
there are brokers that are being link as SCAM.

2. Click the “Try a Demo Account” or Open a demo account – it will redirect you to the
application page.

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3. Fill out the necessary information that is needed. Basically it only requires your full
name, email address, the amount and currency you want to start to trade. I highly
recommend that you put the amount similar to the capital you’ll deposit when you
trade “live”. Start your demo trading account at least $500 – $1,000 and it depends
on your preference.

4. Check your email for your account login, trader’s password and the server of your
trading.

5. Download the mt4 trading platform, which is also located on the page where you
click the “open demo account”. Just simply install it on your laptop and desktop.
You have a choice to also download it on your mobile, but I highly discourage you
trading on mobile.
https://www.icmarkets.com/en/forex-trading-platform-metatrader/metatrader-4

After installing, just input all the information provided to your email by the broker and
viola, you can start demo trading. Retail traders can participate 24hrs a day, Monday’s
to Friday. And you can trade anywhere and anytime you want as long as the market is
open.

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While learning, it is necessary to practice on a demo account so you could familiarize the
platform and understand how it works. It is not just about how you will navigate on the
platform but to deeply understand and apply what you have learn on step number 1.

Here are some of the quick videos to guide you:

How To Open A Demo Account - https://youtu.be/t-nMlR6lXhQ

How To Login To MT4 Trading Platform - https://youtu.be/WPb55DoJFyg

How To Navigate The Trading Platform - https://youtu.be/GL5z64NLSSA

Understanding Candlestick Formation - https://youtu.be/GkuMvpL1GKU

Hope that helps you to get started.

STEP 2: LEARNING HOW TO UNDERSTAND THE MARKET PRICE BEHAVIOUR

You now have an overview and understanding on how forex market works, learn some of
the terminologies, get a glimpse of some of the common frequently ask questions about
Forex trading.

And maybe you are excited about how you can really enter a trade, buy or sell such
currencies to make a profit already.

But let me tell you these, before you can execute or buy any currency that you like, forex
market are lot different from a normal market, that you can buy items or goods on the

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current market price with the quantity you want as long as you have enough money on
your hand. You will buy an item whatever the current price demand is,

In forex market, it is important to know, gauge and understand first the value of the
current market price of a currency pair and order for you to determine the best possible
buying or selling price that can make you a profit.

And this can be achieve by “analysing” the market.

There are 3 ways or method to actually gauge and analyse the condition and price in forex
market, these are using “FUNDAMENTALS, TECHNICAL and SENTIMENT Analysis”.

In this module, we will just focus on the Technical Analysis and will only give you some
background of the other two methods.

Here we go;

Fundamental Analysis

– This is basically assessing the forex market condition base from the economic stability of
each country or region, political and geographical nature. And there are wide factors to
determine each condition, like for the economic status such as inflation, the bank interest
rate, unemployment and others.

For example, the economy of US is in good condition, therefore, their currency will also
strengthen. In this case, for the previous example that we have for the EUR/USD exchange
rate of 1.2355, since the economy of US is doing good, this means that the exchange for

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EUR/USD will decrease or down. The same goes for Europe, if economy is doing better
than US, EUR/USD exchange rate will improve and increase.

The better the condition of the economy, the more foreign business and investor will
invest, that means the increase of that country’s currency demand will be.

Sentiment Analysis

– This is the analysis that identifies and measure overall psychological state of forex market
participant. On a normal market place for example, you will observe that there are
common prices of goods, because it is the mass psychology that they want. Even if the
price of that good should be cheap or lower, but the majority of the vendors agrees that it
should be a little higher, then that will be the sentiment.

The common term used in forex market sentiment is “BULLISH” or Bull Market and
“Bearish” or Bear Market.

If the price tends to move upward it is refer to as bullish market, and if the price tends to
move downward it is refer to as bearish market.

There are a lot of theory on why it is called Bullish and Bearish Market sentiment, but the
most common idea is that the tendency of price trend whether upward or downward
reflect on each graph corresponds to the movement that each animal uses when it fights.
Bulls ram their horns forward and upward, whereas bears swipe downward with their claws.

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Basically, Bullish and Bearish are the term use on determining the current market price
trend. So, if the market is bullish, you are looking to buy otherwise sell, when the market
price is bearish.

Technical Analysis

– This is the most widely used method of analysing the market. A method of analysing the
forex price chart base from the historical data using different kind of analytical tools.
Technical analysis help us visualize what will be the future prices base from its historical
“PRICE ACTION”.

Since the forex market has a 24hrs operation it will definitely have a large amount of data
that can be used to gauge future price activity, thereby increasing the probability and
significance of technical analysis.

Technical Analysis is basically analysing the market using a price “CHART”, which we can
see on the trading platform. And the common tool to analyse the price chart are the
Indictors and the “PRICE ACTION” itself represented by what we call candlestick bars.

In this module, we will just focus to analyse the market using the Price Action, but before
that, let me introduce some of the tools to use to analyse the price chart that eventually
can help you in the later part of this module.

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 TECHNICAL TOOLS

Chart

Let us look for the common forex price charts,

 Line Chart
 Bar Chart
 Candlestick chart

Line Chart – A price chart which is

represented by a simple line which
shows only the closing price to the
next closing price. Basically, you can
visualize the price trend and where it
is heading.

Bar Chart – A price chart represented by

different sizes of vertical lines which
shows the opening and closing prices, as
well as the highs and lows.

The bottom of the vertical line indicates

the lowest traded price, while the top of
the bar indicates the highest price from a
certain time period. The small horizontal
line on each of the vertical lines
shows the opening (left side) and
closing price (right side).

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Candlestick chart – This is basically the same concept with the bar chart but the candlestick
chart are the most widely used because of better graphical representation of the price.This
chart are mainly composed of different sizes and shape of candlestick which includes the
OPEN, CLOSE, HIGH and LOW range represented by a vertical line.

Candlestick are graphically represented like a normal candle body, representing the range
between the opening and the closing price.

To easily visualize, candlestick body

are represented with colors,

If the closing price is higher than

the open price, it is typically filled
with “white” or “green” color (means
traders are BUYING) and are also
called "BULLISH” candle which represents that the market price is in upward and will tend
to move higher.

If the closing price is lower than the open price, it is typically filled with “black” or “red”
color which represents that the market price is in downward and tend to move lower
(means traders are SELLING), also called “BEARISH” candle.

See below another illustration with a red and green color which are most widely used:

Candlestick alone are very easy

to used and adopt because you
can easily visualize the
condition of the price base from
its color, body and the shadows
or what we call, “wicked” or tail.

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You can instantly set aside the line and bar chart for now and focus more on the
Candlestick chart representing the price action through candlestick body sizes and its tail.

You can easily determine if there are a lot of buyers and sellers taking into positions by
viewing the size of the candlestick body, if you see a small body, it means that the open
and closing price are narrow, buyers or sellers wants the price stay on a small range and
the price does not move too high or too low.

Same goes if you see a much longer tail from the lowest price as compare to the high
price, it means that there are a lot of buyers taking in the lowest position and it surely does
mean that buyer wants to take over.

Let us continue and further discuss this later on the module, so you’ll have a better
understanding on what I was talking about.

How to analyze the chart?

There are wide methods and tools to analyse the price chart, but in this module I would
only discuss the most popular and by far the most useful and easy to understand.

Have you heard or read about the market is approaching on the short term support, the
market price broke a significant resistance?

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 SUPPORT and RESISTANCE

– This are areas on the

chart where price has
difficulty of breaking
through. Support levels or
areas tend to stop price from falling below while Resistance levels or areas act like a
price ceiling that price cannot break above.
–

The idea here is that, when a price tends to move higher but failed to continue and close
the price above the previous higher price or when it forms a new higher price but failed to
continue its momentum and start to fall, this is where the resistance is form, likewise when
a price move lower but again failed to continue to fall and just establish a new lower price
or failed to break the previous price, this is where the support is established.

Get it?

One great way to find support and resistance levels is to mark levels in the past where
price had a difficult time breaking through using “horizontal line”. As price moves up and
down, each level that price has bounced off could be a level in the future that price
bounces off of again.

If the price are heading upward and failed to break the resistance, it means that the sellers
are in control whereas if the price are heading downward but failed to break the support, it
means that the buyers are in control.

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Support and Resistance will not always be an exact number of price that is why it is better
to refer this as zone rather than a point or horizontal lines only. It is also refer to as the
psychological level of the buyer and sellers.

(Support and Resistance are drawn by a horizontal line “color red”)

Knowing where these levels are make it much easier to decide when to execute our
position in the forex market either we are buying or selling, it will also help on determining
the areas on where we should close our trade.

The idea here is that, when a price tends to move higher but failed to break or close above
a resistance area, it is typically our chance to put our “SELL” position or entry.

And as I have mentioned earlier, “resistance” acts as a price ceiling which means that the
price are having difficulty to find its way to move further or higher, while “support” is the
area where the price stop from falling way below, and this will be the good chance to
place our buy order because the price already find a support that can hold the price and
move higher.

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Look at below chart, how sellers are looking into the resistance and buyers into the
support, that every time the resistance is tested and failed to break, the price continue to
move down. Same goes when the support are tested, buyer place their order and you see
the price move higher.

Support and Resistance also represents the psychological state of mind of Buyers and
Sellers, if the price failed to break or close above the resistance, it means that “sellers” are
taking in and most of them don’t want to move the price higher.

If the price failed to break or close below a support, “buyers” are taking over and they
don’t want to make the price lower.

The idea is that, buyers will take a “buy” position at the support and then their take profit
will be at the “resistance”, in which most sellers will also came in.

Remember that plotting support and resistance are only determining what will be the
future price intentional movement.

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Most of the times, those Support or Resistance will be eventually broken and becomes the
New Support or Resistance, just like below:

The previous RESISTANCE level become now the SUPPORT, as the price keeps resisting to
break its higher potential but later on it breaks and becomes support.

Below is a representation that shows the previous Support now act as a Resistance.

This is also called a “flip zone”, a support that turns a resistance and vice versa.

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TREND LINES – This tool are very helpful to gauge the condition of the overall price trend
whether it is an uptrend or downtrend, or bullish or bearish market. Trend line could also
shows a dynamic support and resistance just like below chart.

In an uptrend, every time a trend line is tested and failed to close below, it becomes a new
support.

Drawing trend line is basically as easy as drawing a horizontal line on the two or more tops
or bottoms but it takes THREE to confirm if it strongly trending.

(Below chart is BULLISH or UPTREND)

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Look at the above Bullish market which respect and retested the horizontal trend line that
every time it touches the line (highlighted on green), it signifies a buying opportunity and
act as the support area.

(Below chart is BEARISH or DOWNTREND)

Look at the above Bearish market which respect and retested the horizontal trend line that
every time it touches the line, it signifies a selling opportunity and act as the resistance
level.

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Trend lines are stronger the more times it is tested which also represents as a dynamic
support and resistance.

If the price are “sitting” on the trend line, look for the opportunity to “buy”, and when the
price is “hanging on a trend line, you should look for opportunity to “sell”.

But, please take note that “Do not ever draw the trend lines by forcing to fit it to the
market”. It is a NO NO! If it doesn’t fit, then it is not valid and not trending.

Using trend line will give us the opportunity to buy when the price failed to broke and
close below supports when the price is on uptrend and sitting on the trend line.

While we can put a sell entry when the price failed to broke and close above the resistance
when the price is on down trend while “hanging” on the trend line.

And remember, you should only place a buy and sell order if the “candle closes” already. It
is the safest way to confirm that the prices really closes below or above a trend line which
would support your sell or buy orders.

CHANNEL – It is with same concept with the trend line, the difference only is that, in order
for you to plot a channel, you have to draw a parallel line (upper and lower channel).

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Upper channel will serve as a Resistance and Lower channel will be the Support on both
either the bullish and bearish market.

It is more likely related to the ladder as it approaches and tested the channels, and it is
valid until either
of the lower and
upper has not
been broke.
When the
channel are
tested and failed
to break, it is
usually give us an opportunity to either put a Buy or Sell trade.

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Candlestick Bars or JAPANESE Candlestick – This is by far my favorite and very power tool
to analyze and trade the market which determines the current condition of the market
price.

“Acknowledge to the Japanese who introduced this helpful tool”

As discuss earlier, the candlestick bar shows the opening, closing, high and lower price of
the current time. White or Green colored candlestick represents Bullish or buying
opportunity while Black or Red candlestick represents Bearish or selling opportunity.

Candlestick has a better representation through shapes and sizes of the body including its
tails/shadows/wicked. The open and close price will represents the body and the
tails/shadows/wicked will represents the High and Low price.

With the above candlestick bar representation, the longer/bigger the body the strong
buying or selling pressure is or many buyer and sellers on a specific time frame came in
while with shorter body signifies less buying or less selling.

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 Candlestick with long upper
shadows or tail and shorter
shadows means the buyers wants
the price high but a lot of sellers
came in and returns back to its
open price. And the long lower
shadows means that sellers forced the price lower but a lot of buyers take in and returns
back to its open price.

Let’s put another example and some of the popular type of candlestick bars:

SPINNING TOP – candlestick bar with a small body (little

movement between buyers or sellers) and a balance
High/Low (tail) signifying that Buyers and Sellers are
fighting, but no one wins and dictated the price. If you
see the spinning top form in an uptrend, this means that
there are less buyer already while if the spinning top
forms on a downtrend, means less seller. And can signify also that a reversal of the current
trend are more to be likely to happen.

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 BULLISH PIN BAR – is a powerful bullish reversal
candlestick with “super long LOWER tail or shadows”
about triple of the body’s length which signifies that
buyers are in control. When we say reversal, this
typically forms at the bottom of a downtrend
signifying a reversal to the uptrend will be likely to
happen. The color of the body are not so important,
what you need to consider is the “long lower

shadows or tail.

BEARISH PIN BAR – is a powerful bearish

reversal candlestick with “super long UPPER tail
or shadows” about triple of the body’s length
which signifies that sellers are in control. This
typically forms at the top of an uptrend
signifying a reversal to the downtrend will be
likely to happen. The color of the body are not
so important, what you need to consider is the
“long upper shadows or tail”.

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Take a closer look on below sample chart.

This are some of the basic but powerful candlestick that can give you a visual
representation of the market price, that includes where the price will be heading and who
is really in control, the buyer or sellers.

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Let us take another examples on the chart:

Small body candlestick

signifying Less Buyer and
Seller are already in
control

Large Candlestick body

signifying large Selling

Bearish Market
Or Down Trend

Above charts shows that SELLERS are in control, as you will observe there are a more
“black filled” candlestick representing SELLING pressure.

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Combining candlestick with others could significantly forms a structure or framework on
what is the market doing, how buyers and sellers are reacting on the “price action”
happening on a particular time frame.

Let’s take a look with below Bullish or Uptrend Chart:

BULLISH MARKET
Or UPTREND

Small body candlestick

signifying Less Sellers
and Buyers are in
control

In a bullish or uptrend market, you can observed a more “white or green filled candles”
which will represents an obvious buying pressure and momentum and only few black filled
candles encircled in red.

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Let’s take another chart example:

More Sellers

Less Buyers
But the next day
Large Buying occurs

Sellers eventually
La Less Sellers Takes over by the Buyers

Large Selling

With candlestick/bar you can easily visualize what is happening with the market price, you
can easily understand where it is heading, easily identify who wins between the bulls and
bears, especially who takes over, the buyers or the sellers.

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STEP 3: DEVELOP YOUR TRADING STRATEGY/METHOD or SYSTEM

– While still practicing with a demo account, eventually you’ll have to learn and establish
what will be your trading strategy. A strategy that you will use on how you can make profit
over the market.

By now you have already an idea and guide on how you can analyze the market from the
most commonly used tools, such as identifying the support and resistance area, identifying
the current market sentiment either an uptrend or downtrend through the use of trend
lines, determining the market price behaviour through the size and shapes candlestick
bars/patterns that forms a structure.

This can be form and considered also as a basic forex trading strategy. Forex trading
strategies are methods that can help you map the market and identify area, prices where
you can execute a profitable buy or sell trades.

There are a lot of strategies forex traders used to help their trading execution and the two
most widely known are using TECHNICAL INDICATORS and the PRICE ACTION alone.

Using Technical Indicators – are tools used by technical analyst to predict the future price
movements that are derived from the mathematical calculation base from historical price
in a given time period.

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Most common technical indicators used are MA- Moving Average, RSI – Relative Strength
Index, Stochastic, MACD and Bollinger Bands and many others. This indicators are
accessible on your trading platform. There are wide technical indicators out there and I
would just give you some brief background on what it is. I do not recommend to actually
used it when you are a beginner unless or until you have already understand how to read
the raw price chart.

Below is the example of Moving Average (computed with 21 Day Average Price). To trade
the moving average, when the price is above the smoothed line, it is typically a Buying
opportunity, whereas if the price is below the smoothed line, this means a Selling
opportunity.

(Below is the sample of Stochastic Indicator)

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Above is the view of the stochastic oscillator indicator, basically it is like a signal oscillator
form like a wave patterns.

To use the stochastic indicator, when the waveform bounce at the 20 level, it is usually a
Buying Signal, and when the waveform bounce from the 80 level, it means a SELL signal.

Most of the traders combine technical indicators in one chart, expecting that the more the
indicators they have, the easiest way they can see or predict the price movement. (see
below)

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(Above is the combination of Stochastic, Bollinger Bands and Moving Average)

I highly respect those traders who totally use so many indicators on their charts as they
have the ability to analyze the market even if it is so clatter or messy. But this depends on
the trader, a strategy that works for them will not work for me and so others.

There are thousands of indicators out there, you just need to try and tested them.
However, before you actually try out any indicator, I do recommend to make sure you
understand how to read the raw price chart with below technical strategy;

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Using “PRICE ACTION” – This is a strategy which involves analyzing and reading the market
with just raw price represented by candlestick, using a clean and naked “candlestick” price
chart without any indicators. With price action, we can easily study what happens on the
“past” market price, observe the “current” price and predict what will be the “future” price
or direction.
Price action shows everything what buyers and sellers are doing.

Where do you think the

price will be heading??

Where do you
think the price
will be heading??

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Price action also represent a collective psychological behaviour between buyers and
sellers, which eventually creates a “PRICE STRUCTURE”.

You may observe how the price is rejecting the Resistance and Support Areas and keeps
bouncing until the Resistance or Support is break and continue trending either Upward or
Downward.

With price action, you can easily determine the current market bias or direction either
Bullish Trend, Bearish Trend or just Consolidating. Market consolidation simply identifies
that the price is ranging and “no one” from the buyers or sellers controls or win. Market
consolidation normally occurs in either from a BIG Uptrend or BIG Downtrend.

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Price action combined with Support and Resistance, Trend lines and Candlestick patterns
can be powerful and gives a high probability of profitable trades.

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Learning so far?

You might be overwhelm on such information that I’ve recently showed to you. But take it
slow, don’t rush, practice applying first using a demo account. Don’t get too excited, you
still have a lot of things to do, and if you are hunger to succeed, keep pushing.

And here are some of additional points to consider:

Your trading strategy or method should include the following:

1. How you will identify opportunities to trade?

2. When to Buy or Sell?

3. Where to place your exit which should include the following 3 Key points in every
trades that you will have:
o Entry Price – The price which we place our “buy or sell”
o Stop Loss – An automated “Exit” or “Loss” price when your trades becomes
invalidated
o Take Profit – An automated “Exit” price where your trades makes “Profit”
4. Risk/Money Management – The fixed percentage of your trading capital that you
are capable of losing without being emotionally attached. 2% is highly recommended.

5. You Time Frame – This will depend on your trading style, or schedule especially if
you are an employee. What I do recommend is focus on the “daily time frame”. The
daily chart will print or show you the closing price at the end of the day so you will no
longer have to monitor it always. Using the daily time frame, you can set what time you
should check your chart, or your trades.

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 Personally, I do my trading routine in the morning before going to work and after my
work. Basically I keep 15-20mins chart time, and it is enough for me to gauge the
condition of the market price.

Surely at the start you need a lot of screen time to fully understand the market
movement and its behaviour. And what I recommend is to practice your charting skills
every weekend. Since you are still demoing, observe the movement of the market on
each of the time frame. Better to allocate more time in to screen at the beginning
before you even jump to live trading. Screen time means not only executing trade after
trades, but the actual observation of the market price movement and how it behaves.

STEP 4: PRACTICE “LIVE” TRADING

Yes, you read it right, once you are consistently profitable using a demo account, go on
and open a live account. It is the same way as opening a Demo account, the only
difference is that, you’ll need to provide some documents such as Passport, proof of billing
to verify your identity and residency.

And once you are live, apply what you have learn on step number 3. Open only a small
amount of capital that you are not afraid of losing, an amount that you don’t immediately
need. If you have around $500 to $1000 spare, that would be a good start. However, since
you are an employee and most probably don’t have that a lot of extra, don’t open a live
account yet until you save $500. Although you can start at $200, I highly recommend to
start at $500, for better and more realistic result.

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Test your trading strategy on a live trading condition. This will be a lot different since it
already involves a real money. And once there is a real money involve, there will always be
an emotion involve.

Assess again what you have learn in step number 3 and execute trades over a hundred. If
you survive and still end up profitable even if you lose 60% of your trades. Your trading
strategy is good, and only means that you are discipline enough to not making any
emotional decision making.
You’ll understand me once you’ve tried it.

Once you get a consistent return for over 6 months to 1 year, try to add funds so you
could get the most profit and return and you’ll experience that fruit of your labor.

STEP 5: JOURNAL YOU’RE TRADES AND EVERY EXPERIENCE YOU HAVE

-While doing the actual “live trades”, you have to develop also the habit of making notes
and journal on each of your trades and experience.

Your journal should include an established trading plan.

Trading is like a normal business which requires a planning on how will you operate, it will
be your guide on your day to day operations.

Whereas in trading, trading plan will also be your guide, on how you will approach the
market, what is your trade setup. How you will enter and exit especially your strategy on
anticipating different situation that could possibly happen on you trade and how you will
deal them.

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In my personal trading plan, aside from the written words specifically for the trade setup
that I am looking for, I keep a snapshot of every charts analysis that I have. In this way, I
have a map on what I will be looking for over the market or my target currency pair.

Having a journal could be your future trade reference that you can use. In this way you’ll
have a record of the past trading history that will allow you to analyse your performance
and to track your progress.

Here is the snapshot of my trading journal that I still used. I prefer to have an excel
spreadsheet with almost a manual encoding.

Whenever I am updating this, I feel I am increasing my discipline. And I can deeply

understand my trading progress and my performance. On the right side of the sheet, I also
put some comments on what I feel on each of my trade. It includes the situation or
condition why I take an entry or exit of a trade aside or against my plan.

You can tweak it whichever you like, above is just an example, you can either make it as
simple as you want. What important is you’ve been monitoring your trading business.

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STEP 6: APPLY THE FOLLOWING IMPORTANT RULES IN YOUR TRADING

Rule #1. Define Your Risk Tolerance and Stick to it no matter what the condition
is!

In trading, in order for you to make money, you have to risk an amount in return for a
profit. However, not all the time, you will gain money out of the risk amount you have, you
will definitely suffer loses. And that’s normal! Those loses are the cost of running your
business.
And one of the overlooked aspect in trading is what we call Risk Management.
In order for you to survive and make money in this business, you have to set your risk
tolerance and the amount you are willing to risk in a single trade. Don’t just trade buy and
sell without taking into consideration.

The most popular risk amount/percentage is – 2% (Risk only 2% of your capital)

It means that you have to be consistent on applying a 2% risk of your capital and convert it
in a monetary value. So, if you have a $500 trading capital, you should only risk $10 in a
single trade, in this way if you lose that trade, you lose only $10, you still have a remaining
$490.

Now, let say in every single trade you are risking 20% of your capital, what happen if you
lose 5 consecutive trades?
You are correct
Your account is gone, you’re hard earn money is gone!

The lower the risk and consistently applying it, the better.

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Rule #2. Set your profit taking 1.5 times of your risk and higher.

It means that, for every $10 you risk, you have to aim a take profit of $15, $20 and higher.
So if you lose $10 from other trades, you will still end up profitable.
In trading, you should not always expect that your trade will be a winner.

Here’s a simple illustration:

Let’s say, for a 100 trades, you win 50 trades, and lose the other 50.
With a consistent risk of $10 per trade and aiming 2times of your risk as profit.

By a simple computation:

Win = 50trades x $10 risk x 2(every take profit is 2x the risk)

Win = 50 x 10 x 2
Win = $1,000 (you win thousand bucks)

Loss = 50trades x $10 risk

Loss = 50 x 10
Loss = 500

So, Win minus your Losses,

$1,000 - $500 = $500 ( You make a profit even if you only win 50% of you trades)

Sounds exciting??
You might be thinking, is it really doable to still make profit even if you lose 50% of your
trades?
Yes it is! As long as you’ll apply it consistently no matter what the condition is.

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Rule #3. Trade only 1-3 Currency Pairs and familiarize them!

Choose 1 to 3 currency pairs only especially if you are a beginner. Never ever try to trade
all of the currency that you see.

Here’s a simple reason why, “You will only increase your risk”.
Think of this! What was the point of Trading EUR/USD, GBP/USD, AUD/USD and NZD/USD
at the same time?

Let’s say you trade that all at the same time,

EUR/USD – 2% Risk
GBP/USD – 2% Risk
AUD/USD -2% Risk
NZD/USD – 2% Risk

Your risk now is 8%, and the fact that they are all against the US Dollar, one move of the
US Dollar against you trade, you’ll immediately lose 8% of your trading capital whereas, if
you only take 1 trade from them against the USD, you’ll potentially lost 2% only. Hope it
make sense!

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Rule #4. Don’t under estimate the Power of Compounding

Here’s a simple illustration,

Let say as a beginner, assuming that you are making profit 5% per month consistently
starting with a $500 trading capital. And you are doing it starting today as an employee.
How much would it be in 5 years?

What if you started at $1,000 capital, $2,000 or even $5,000?? How much worth it is for you
after 5 years of doing it part time while keeping your 8-5 day job

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If you do it consistently for 5 years, how much worth it is to you? You might probably want
to retire as an employee right?

However, this may always vary depending on you. It all depends on each of us. The action
that we take and the level of our experience.
But if you are willing to put an effort and put something in, you’ll definitely get something
out!
How much are you willing to put in, to get you something out? What sacrifices are you
willing to take in return for something? How long you will consistently put something to
consistently get something out?

It is not what we are capable of doing, instead, it is what we are willing to do to make it
happen.

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Rule #5. Trade with the End of Day Approach

Master trading on the Daily Time Frame, as you lower down the time frame, the faster the
price movement will be. You'll experience fast paced.

Daily Time Frame is slow and view the overall market price direction

Your trading decision must circle around the daily time frame, most especially on the daily
closing price.

In this way, you’ll avoid committing one of the “worst” sins of a trader which is “watching
the chart all the time”.

With the daily time frame, I can see what the condition of the market is within a year or
several years and using that information I can easily identify and determine where the
market price is heading.

It gives a clearer view of the overall market direction and it will help you improve the ability
to read the market’s structure on what is happening on both short and long term bias.

Since the daily time frame closes after 24hrs, Daily time frame is slow because the daily
candle closes after 24hrs.

It forces me to be patient to wait that close candle before deciding what to do on my

trades. It forces me to check and monitor my chart once and twice per day only which is
far less likely I have to enter and exit a trade prematurely. It helps me to avoid emotional
based decision making.

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You trade execution or exiting a trade should consider and decided after the daily closing
price or the daily closing candle which 5am in the morning, to 6am DST.

Basically my trading routine revolves around the daily time frame. Over the weekend, that
is when the time I conduct a deep and thorough analysis of the market price. I am already
anticipating the market in advance so when it opens on Monday I am already prepare.

I will only check my chart in the morning and at the evening. Weekend is usually my
charting time, this is where I observed the market while it is not moving. Although you
have to practice screen time to really understand the price behaviour and the market itself,
I recommend that you do that during demo not on a live trading account. In this way you’ll
not be tempted to execute a trade that is not within your pre-determine trading plan.

Now, obviously, I can’t teach everything you need to know on all the steps in this short
eBook.

I do, however, want you to get started right away!

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CONCLUSION:

Now, I hope you can take what you have learned from the FREE Guide and apply them.

It is now your turn to take action!

With that, I would like to thank you for taking time to read this FREE Guide.
And I am congratulating you in advance for taking the steps that could potentially change
your life right now!

Cheers To Your Future Success,

Mike Perlas
Husband / Father / Corporate Engineer / Author / Trader&Investor / Entrepreneur

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If you would like to recommend this ebook to your friends. Just send them to
my website at:

https://mikeperlas.com

to get their own copy of this eBook.

What do you do next?

If you are serious in applying what you have learned in this eBook, you may
visit and get the full access of this “PART-TIME TRADER’s PLAYBOOK” – an
eBook format + video course tutorial

Just copy and paste the link on your browser or click in any of the image below:

https://mikeperlas.com/pttplaybook

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 ABOUT THE AUTHOR

Mike Perlas is the founder of www.mikeperlas.com. He is an Engineer from a private

manufacturing company. He is a Part-Time Forex Trader, a Stock Market Investor/Trader,
an author, blogger, and an entrepreneur.

His journey started in 2014, when he became jobless. His family struggle financially for
almost 6 months, leaving almost no money for them to survive in their daily needs. Her
wife was forced to study how to "sew" a school uniform just too at least earn a little extra
to help their daughters need. He was a burden from his parents and siblings, but he has
no choice but to accept the reality. Remembering those days was a nightmare for him.

For 6 months, he has nothing else to do because he don't have any other skills, He don't
have any ideas about business. He don't know how he could start. He is clueless. And
right after he get a job at that same year, that's when he decided to earn money on the
side. He started acquiring and developing another skills that help him generate additional
income while keeping my 8-5 day job till today. He found his passion in trading both Forex
and Stocks which leads him to a lot of opportunity to grow his money and slowly building
his family's financial confidence. He is now also on the journey on establishing his own
online business funded by his earnings from trading and investing.

He is now helping and inspiring his fellow employees to also acquire their income
generating skills that will help them earn money on the side while still being an employee.
He wants to share his journey and inspire others, that even a typical employee can do
succeed and create his own wealth too even if they don't have a background or zero
knowledge about investing, trading and online business. All they need is to start taking
action. He now believes that there is a limitless opportunities outside the cubicle world.

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 ACKNOWLEDGEMENT

I would like to thank my family, my parents, sisters and most especially my wife Janice
whose unconditional support is 100% even if she really don’t understand what I am doing.
To my two lovely daughter Ayame and Aaliyah, who always find time to disturb me and
asking “what are you doing daddy” – this is for you!
I was inspired to write this book by Robert Kiyosaki, Anik Singal, Jon Orana and my dearest
mentor Doc Lloyd Labso of DigitalStartUpToolkit.

I do follow a lot of mentors pertaining to Trading Forex, Investing in Stocks and Personal
Development but no attachment in any one of them. I just follow them, acquire and filter
those that I understand and what will work for me. In fact, I never seen them in person, but
I do thank them for sharing their knowledge in their little own way.

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 HAVE YOU LEARN SOMETHING?

COULD YOU DO ME A LITTLE FAVOR?

After you finished reading this FREE START-UP

GUIDE, Please help share some FEEDBACK to me,
even a short messages about the TAKEAWAYS or
LEARNINGS you’ve got. This would help a lot on
my future content and will really boost my
confidence to share more.

KINDLY SEND IT TO MY EMAIL:

[email protected]

I WOULD HIGHLY APPRECIATE IT!

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PLEASE DO LIKE MY PAGE FOR MY FUTURE
CONTENT:

FACEBOOK Page: @mike.perlas.page or you could

follow this link: CLICK HERE

YOU CAN ALSO JOIN MY EXCLUSIVE PRIVATE

FACEBOOK GROUP (which I just recently started).

CLICK HERE TO JOIN

Or Look For

Part-Time Trader’s Initiative (Ph) – Forex Trading

for Beginners

Thank you very much!

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 Copyright and Legal Notice

THIS COPY IS FOR YOUR PERSONAL USE ONLY.

No part of this ebook or the related files may be reproduced or transmitted in any form,
by any means (electronic, photocopying, recording, or otherwise) without the prior written
permission of the author. This material does NOT contain any re-sale or re-distribution
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