manual by fanzhongqing

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									   Colin Richard Nicholson
         Welcomes you to


              Live The Life
1. Introduction

2. The Secrets of the Successful

3. Freedom Figure

4. The Money Machine

5. The Foreign Exchange

6. Becoming a Trader

7. Trading Platform Metatrader 4

8. The ELS Strategy
  Introduction


Hello.

Before we start I would like to get the introductions out of the way.
My name is Colin Richard Nicholson. I was born in Manchester, in
1953. My father was a painter and decorator who retired early in life
due to ill health, and my mother worked extremely hard in care
homes and finally worked in the canteen at Oldham Royal Hospital;
she died just weeks before her retirement was due at the age of fifty-
nine. From an early age my parents struggled to look after myself
and my younger brother and sister; a credit especially to my mother,
even so we always managed to get by. During my life I have tried
many ways to make it big and fallen foul of other people who are out
there with the aim of taking my money and using unethical methods
to do so. I always thought the next project would be the one to fulfil
my dreams. Guess what; nearly everything I did resulted in making
other people richer and myself poorer. I even considered having the
word loser printed on my business cards. Does any of the above
remind you of anyone, let’s say maybe you for instance? Have you
ever dreamed about making large amounts of money, retiring to
enjoy the benefits and fallen foul of at least one money making
scam. Come on admit it you have probably done the same.
However in the 80’s early 90’s I discovered something that we all
take for granted but rarely use, my brain. I decided enough was
enough and I was not going to end up suffering like my parents did
all those years ago.
 Some of you may or may not recall my first business venture which
was a computer company that produced virus protected Pc’s, a UK
first. I remember now celebrating when HMSO decided that my
computers would be the ones they would sell, (a deal worth millions,
now honoured by Dell). Seven days later my dreams were shattered
when the Managing Director from the factoring company I used ran
off with the takings. I remember asking my customers if they would
pay me and not the factoring company, this resulted in court action
to stop me from asking for my own hard earned cash. I was really
having it hard. I was going without any wages so my staff could be
paid. With that in mind imagine how I felt when I discovered that
some of them were stealing computers and selling them for less than
what the parts cost me. What a fool I was.

The reason I have told you this, is to try and convince you that
running a business and serving others can be very costly, time
consuming, and very hazardous to your health. Somewhere in my
head I finally realised that I had a brain and wanted to use it to make
money. Even though I came from a very poor beginning with what I
would call an average education, I had to do something. I needed a
business that had no overheads, take very little of my time and with
hardly any effort. Then one day it hit me. Trading the stock markets
or forex markets, could be the one and only answer. Sure I could
make a lot of money, more than I ever dreamed of, but I could also
lose everything I owned. I studied what most millionaires did to
succeed. They all had two things in common. Desire and
Determination.
The Secrets of the Successful



 1. Desire and Determination.

   This is without doubt the master ingredient, of which without
   it, forget ever being rich. OK you may if very lucky win the
   lottery, but let’s rule that out as a non starter. No it’s desire
   and determination that you must have to succeed. How can I
   help you if you do not have the will to succeed yourself. From
   today I want you to decide that you have had enough and
   nothing, I repeat nothing, will stand in your way. You will notice
   I repeat this throughout this manual. I have to because I am not
   just writing this manual to make a quick buck, and then
   disappear. I am putting my name on the line. I am determined
   to make my mentoring business a huge success. I am aiming
   extremely high. If you should buy this manual and then throw it
   in a cupboard and forget it, then that’s your problem. If you
   decide now that you are going to succeed and then fail, well I
   really don’t want to think about you failing, because that
   means I have failed. Guess what, that will never happen,
   because with your desire and determination to succeed and my
   determination we cannot possibly fail. From this day forward
   both you and I are on the same road. Welcome aboard.
2. Mentor

  There are many books available, so you could if you so desire
  study for the next few years and maybe at the end of your
  studying you may just come out to be a good trader.
  However life passes very quickly and what I did was study other
  millionaires they all have the same ingredient in common. They
  all copied someone else, someone who had already become
  successful, and someone who was also very rich. It is no good
  asking someone who has never been married about how to
  have a successful marriage, or a mechanic how to cook or a
  chef how to fix your car. Trading is the same. I needed
  someone who could teach me, who had walked the walk and
  talked the talk. All successful traders must have been shown
  from a mentor before becoming successful themselves, myself
  included. I have and always will have my own personal mentor.
  I run a masterclass to mentor others and hopefully not only will
  this manual be a basic beginning for you but you will join my
  masterclass, let me be your mentor and continue with me on
  the road to success for many years. If not me, then find
  someone like me who can show you many methods or systems
  for successful trading. Maybe one day you to will decide to
  train others. Or having completed my masterclass, work with
  me. I will constantly be looking for my successful students to do
  this, but that will be up to you when the time comes.
 I will also show you how I make enough money to live a fantastic
lifestyle; all that is needed is a little common sense and a free trading
and tracking software package, and a computer with internet
connection. Why should I pay thousands on software when a free
alternative is available and works just as well?

Well that’s my introduction over; I feel we are already becoming
friends. I cannot thank you enough for giving my course manual a
try.

Please enjoy.
The following was me just a few years ago




If only I could have another five minutes in bed; I can hear my wife

shouting for me to get up out of bed. As I begrudgingly and very

slowly climb out of bed, I begin to wonder if there is anything I can

do to get out of this miserable rat race; day in day out I perform the

same task over and over again. Within minutes after washing and

shaving, and literally cramming a slice of toast into my mouth I set

off for work. It is now 7:30am and I am being held up yet again in

another congested area. I sit in my car which is going absolutely

nowhere, I am stuck in another traffic jam, why I am surprised beats

me because this is the daily routine. While I sit waiting, I look at all

the other drivers, I can see one woman busy putting make-up on,

another guy on his mobile and literally hundreds of faces staring at

me from behind the wheels of their cars. One thing they and I have

in common is, NOT A SINGLE ONE OF US IS SMILING. We all have

miserable faces and can you blame us? Do you know anyone else
personally that faces the same routine day in and day out; maybe

you for instance?




All my working life I have said to myself I have just got to get out of

this. The trouble was with a huge mortgage and bills landing daily

through my letterbox I was trapped. It didn't help my marriage

either, my wife was constantly nagging me for new household

appliances, suicide came into my head more than once I can tell you.

Then one morning something clicked, I just had to pack in my day job

and find something that I wanted to do for a change; my life was

simply passing me by and it frightened me. It was then I decided to

take action, I sat down and wrote everything that I wanted to do

before I died, I just simply had to change my life. That also meant

leaving my wife, I could not take another day of her nagging. I made

a plan to make enough money within 3 to 4 years to be able to live

and enjoy life to the full for the rest of my life and to do this as easily

as possible. If you are like me you will have no doubt spent hundreds

if not thousands of pounds on those get rich quick schemes, I never
found any that worked. You may wonder why I am telling you all

this, it is simply because I want to get it over to you and shock you

into realising that life is passing you by; also I urge you to take action

and TAKE ACTION NOW before it is too late. That said it is never too

late, simply putting down this manual or throwing it into a cupboard

is never going to change your life. I have spent quite some time

producing this manual, please do the decent thing and read it from

cover to cover at least three times, it's not hard reading and you will

I'm sure find it quite enjoyable to read. Getting out of bed at seven

o'clock in the morning is something I did about five years ago, these

days I have a far more relaxed regime. My day starts with me getting

out of bed whenever I feel like it, but I must confess it is usually

around 7.15am. The difference now though is I want to get up, I

want to enjoy my day and usually do so. I sit down by the table and

read the newspaper along with a cup of coffee and a reasonable

breakfast. At 7.55am I take a quick glance at my laptop screen to

check the markets, and believe me life is great. You will hear of

people like me that spend their lives travelling to luxurious far away
destinations at least six times a year. I am not like them I love the

simple life, and if not in the UK then I can be found having breakfast

while sitting in the shade on the patio of my villa in Spain. My

partner says she would like our UK home to be in the Lake District, so

that is the next project for me. I am looking for a country home in

the Lakes. I do hope you envy me slightly, because I need you to

decide to do something with your own life and take action NOW.




One of my biggest problems when producing this manual is to

ensure that you are fully motivated and you don't discard the

information I am giving you. I want to talk to you for a second about

its worth, you may have paid $2999 or just under £2000 but I am

convinced that the information you are studying is worth much,

much, more. For instance if I said to you I have a cheque that is

guaranteed for $150,000 but I want $4995 in exchange for it, you

would snatch my hand off wouldn’t you? However I am convinced

that after studying this manual and DVD’s you will be equipped to

commence trading the forex market and earn far more than that,
each and every year and I hope you'll seriously consider my

masterclass sessions which we will talk about later. Going back to

value, a very well known friend who’s surname I cannot mention

because he has copyrighted his name so I will simply call him Larry,

taught others to have the same perceived value we mentioned. He

says to his students he has a crumpled up piece of paper and he then

asked would you give me £20,000 for this piece of paper? Of course

you wouldn't but supposing that on this piece of paper it had the

winning lottery numbers for this week. I don’t know where you

would get it from but I believe you would get that money from

somewhere to buy that piece of paper. I would also like to refer to

Anthony Robbins the world famous motivation guru. Where he asks

“what would you try harder to do make $25,000 or protect your

$25,000 once you have it”? We both know what the answer is.

Making money is easy once you break down your emotional barriers.

We are taught from an early age to join the pack, to accept our

future and work for others. We work until we are almost ready to
drop. Most people retire with a pittance of a pension. Believe me

when I say get out while you still can.




But first let's start by putting you through a process I myself took.

Again this was basically thanks to my friend Larry, not that he is a

trader but he certainly taught me to put my own house in order, you

will need to work out what you need in the way of your own

personal finances and decide what amount of money you need to

achieve to be able to say to your Boss, that’s it I have had enough,

and tell him exactly where to put his or her job. This we call our

Financial Freedom Figure. This is vital, I don't suppose you've actually

given it any thought on how much money you want or need in life,

you probably daydream of being well-off and having lots of money,

but be honest with yourself, you have been having that dream now

for years but where has it got you, you are probably no better off

now than you were 10, or even 20, years ago. So how on earth do

you go about deciding what your personal Financial Freedom Figure

is going to be? Now I know this sounds boring but you must have a
clear defined financial goal right from the offset, a goal that you are

really determined and passionate about achieving, not my goal, not

your granny's goal, but your goal. This I cannot stress enough is

absolutely imperative. Imagine for a second you are the pilot of an

aircraft, sitting at the controls of a plane, you have not got a clue

how anything works. There is no way you are going to get this thing

off the ground unless you know what you are doing and have been

taught those skills. Also unless you have a destination in mind you

are never going to get anywhere. The same rules apply in trading.

Without any trading skills you will never become a successful trader.

And unless you have a precise clearly defined financial goal how do

you expect to reach it? So please take what I want you to do now

seriously, it is your absolute first step in becoming wealthy or even a

millionaire. Simply saying to yourself I want to be rich will not do,

you will get nowhere.




So how on earth do we reach our personal Financial Freedom Figure,

to be able to break free from the daily grind?
To be able to pay for your children's tuition, or have plenty of money

left at the end of each month. I will tell you exactly how we are going

to do this, not just picking an arbitrary figure of say 1 million out of

thin air or 5 million, 10 million, or even 50 million. That is sloppy

thinking that gets you nowhere. There is a simple technique which

you can use to start. I want you to decide on an annual gross salary

that you can comfortably live on, please do not go overboard, but at

the same time remember I said comfortably live on, then multiply

that amount by 15 and this would be the amount you need to have

sitting in the bank or in a safe investment, to live off the interest, for

the rest of your life. For example, say you need an annual salary of

£30,000. Your financial freedom figure would be £30,000 multiplied

by 15 = £450,000. This figure does not mean you will be rich enough

to be able to afford a yacht, plane, or luxury villa, it does mean

however that you'll never have to work for anyone ever again. Do

not worry about the extra luxuries in life we will start working on

those once your first goal is reached; your Financial Freedom Figure.
Freedom Figure              Enter the annual salary I require to live


comfortably (not rich just comfortable) is:




£


Now multiply this by 15….




My Financial Freedom Figure (annual salary x 15) is:




£



The magic figure in the box above is the one which will free you

from slavery.
I want you to be totally serious about this, do not take the above

lightly. I will not mess around, I am going to be 100% honest with

you. If you cannot take the above seriously then please do not waste

my time or yours. I am not playing a game with you or anyone else;

this is not a trivial matter. What we are talking about is your future,

your life, I do not care about your background you can do this

whether you've got a degree at university or even if you did not pass

first grade or your 11+, from today start taking your life seriously.

You can do this, you will do this, and you will make the Financial

Freedom Figure we mentioned above.
The Money Machine


I recently read a story about a money machine which I intend to

share with you. I also want you to write it down and repeat it to

yourself every day until the figure on the previous page is reached.




I want you to use it to keep yourself on track and why you need to

motivate yourself to do what is required to reach your magic figure I

want you to imagine that your aim was to make £1 million in order

for you to retire for the rest of your life and live the lifestyle you

deserve. Now imagine I give you a money machine which printed five

pound notes, money which is legal and totally tax-free, money which

you can do with exactly as you please. The machine is situated in

your garden shed and all you need to do is load in the paper, pull a

few levers press a few buttons and out pops a brand-new crisp five

pound note. The process being physically demanding takes exactly

one minute to produce. Now also imagine that you can only have
this machine for a set time before it is taken away from you, but you

have no idea when this will happen, what's more no one other than

yourself can operate the machine so you cannot delegate this task to

anyone else. Your brain does the working out and your maths would

quickly tell you that in order for you to reach your Financial Freedom

Figure of £1 million, (the figure remember we set which will forever

set you free), you would have to produce 200,000 five pound notes

and remember you only have this one chance, possibly the only

chance in your life to become a millionaire but you're really going to

have to work for it. So what would you do? I guess initially you

would spend the entire day in your garden shed even if it was

freezing cold, you would be there just loading the paper, pulling

those levers, pressing the buttons over and over and over again, you

would really resent having to take a break. Should you need to use

the toilet you would probably hold on until it hurt, until you have no

choice other than dash to the toilet. You would not take any leisure

time or meal breaks, but instead would dash into the kitchen grab

two slices of bread and throw into it whatever filling you can find to
make a sandwich quickly, dash back to the garden shed trying to eat

your sandwich whilst at the same time trying to continue working. As

it got dark and time for bed you would think just one more hour then

I will really call it a night. One hour, two hours, three hours pass by

until eventually you would fall asleep slumped over the lever, only to

wake with a start at 6 am. Once again you begin frantically pulling

the levers meanwhile cursing yourself for the time you've lost, after

all you could have made another thousand pounds instead of

sleeping, eventually the pile of money grows larger and larger

around you £50,000, £100,000, £250,000, £500,000, and eventually

you reach your Financial Freedom Figure of £1 million. Fantastic

story, and a very nice thought isn't it? You know if you really did have

a money printing machine there is no way you would slack off, no

way would you miss out on reaching your dream figure. This is

exactly what you are being offered here today, the chance to have

your own personal money machine. It is with this image in your mind

that I want you to remember for the rest of your life.
The Foreign Exchange (Forex)


The market I want to show you how to trade, during the next twelve

months is the forex market, otherwise known as the foreign

exchange market. For those interested please consider joining my

masterclass in which over the next 12 months I will teach you

enough trading systems for you to become a successful professional

forex trader. Yes that’s right a successful professional forex trader. It

is a fact that around 95% of people who trade the forex market lose

money. You must not be one of them. It is my goal to help people

like you, live the dream and lifestyle you deserve. In this manual I will

show you two trades that I have used in the past to build up my own

bank balance; it will do the same for you. The first is the one which I

originally included, and the second being the first system from our

masterclass series, and providing you do as you're told you should be

taking the first steps to becoming a millionaire. This is not something

I say lightly. Already I can hear you say to yourself this is not me I
could never be a millionaire, my reply to you is, come on get a grip of

yourself you can do what the hell you like providing you take action,

take the first steps and stick with it, never ever quit.




There will be times when you feel that everything and everyone is

against you, we all have bad times even in this business, no one, I

don't care who they are can be 100% successful on every trade, we

all have losing trades so get used to it.
Becoming a Trader


When trading there are five things you should remember. An

acronym is the following




T   Target, knowing when to get in and when to get out.




E   Entry, place to get in




R   Risk, how much money am I risking




P Profit, how much money will I make



S   Stop, when to get out.
There are three types of trader.




  1. Bull A Bull is a trader who Buys and is wanting the price to rise.

     The term for this is long, or going long. To be Bullish.



  2. Bear A Bear is a trader who sells and wants the price to fall.

     The term for this is short, or going short. To be Bearish.



  3. Pig A Pig is more tongue in cheek. It is a trader who simply gets

     slaughtered. YOU NEVER WANT TO BE A PIG.




I do not want you to get bogged down with any technical jargon or

something which will put you off even starting this business. So I

make no apologies for only giving you basic information, the

technical stuff will come later, so please do not worry, nothing I show

you will be hard to learn. As we proceed to the next section I want

to make you fully understand that there are NO, I repeat NO total

experts in forex trading or any type of trading for that matter. No
one, no matter who they are can get it right every time. There are

plenty who have made multi millions from trading the forex market

and plenty that have lost their shirts. One thing the successful

traders have in common, all have excellent money management and

we all have unique trading skills. I myself use about 10-15 of these

so-called skills, by using the skills and practicing good money

management you will without doubt become very, very, wealthy,

and will be able to live the lifestyle you require. With this manual I

am providing you with your very first manual trading system plus

your very first system from the Masterclass plan, which you will

enjoy monthly should you continue with the Masterclass mentoring

system, this will enable you to build up your skills and your profits. As

I have just said please take into account the remark about there

being no experts, my point here is do not pay good money to learn

how to become a trader with me, only to pay a further 5 or 6 more

people offering similar training sessions. Remember how the adage

goes, those that can do, those that can't teach. Please only complete

my course if you intend to see it through to the end, otherwise we
will both lose. I am investing a great deal of time and money, please

do me the honour and complete the course. The reason I teach is

twofold, I make my main income from trading, but it is fantastic to

have a second income by teaching others to become successful forex

traders. Did Bill Gates of Microsoft get to be a billionaire with just

one product NO? However my main reason is because I enjoy doing

it. Before I get back to discussing trading skills, I want to reiterate the

importance of good money management. Along with this booklet

comes my own personal assistance in planning your money

management trading, this will come in the next session for those

involved with the Mentoring course.




For those who do not wish to become full time professional traders

but just simply want to learn the basic trading skills, fine. But

remember trading can be done at ease long past retirement age, and

when everyone around you is struggling to make ends meet on their

meagre pension. You will have learned a great tool to help ensure

you enjoy retirement to the full. I will also prepare for you, your very
own money management plan which is designed and intended for

you personally. To complete the plan I will need to discuss your

personal goals with you. To do this I will either telephone you or

send you an email which I would be grateful if you could return to

me ASAP. It then provides you with your goal settings and maximum

trade stakes. If you stick to this plan, I am convinced that within 12

months you will be on the way to a totally new lifestyle, ignore my

advice and you will become what I call a pig, you will be slaughtered.

This is all up to you I cannot control your personality, if you have any

gambling instincts you will need to control your urges. In fact if you

have any gambling problems, it may be in your interest for you not to

become a trader in the first place. Very recently I placed £1000 into

an online trading account. A friend of mine stated to me that he was

a ex stockbroker and asked if he could work with me, so as a test I

gave him the £1000 and the account details of a live trading account

and told him to trade however he wanted, within 30 minutes he

went short the pound/dollar. I then left him to it and watched in

horror as the trade went against him, he had failed to put in any
stops or take profit. What’s more he added to a losing trade in the

hope that it would reverse and he could get the money back. Even

though we had already discussed Money Management he had the

gambler instinct and lost it all. At the end of the day this was only

£1000 and I have lost more myself in a single trade, you cannot let

that bother you it happens, but to ignore the rules and gamble.

I mentioned the acronym TERPS earlier, it is extremely important

that you know when to trade, take as much profit as you want to

make, and know your Stop Loss for when to get out should the trade

go against you.




Okay, so now I've got you really excited I know you can't wait to get

started but remember patience is everything in trading. I am not

going to make this chapter a lecture in how to use computers I am

assuming that you know how to use a computer even at basic level. If

you cannot do basic tasks on a computer then I suggest you get help

from someone who can. Metatrader is very simple to use so you

should not have any problems.
Trading Platform Metatrader 4


There are numerous platforms you can use when trading on the

Internet. However most forex traders use a simple program called

meta-trader the latest version being known as metatrader4, this is a

fantastic little program and quite easy to use. You can download a

free copy of meta-trader4 from virtually any broker. Below I have

listed five brokers whom I feel are the more well-known.




  1. www.alpari.co.uk

  2. www.gallantfx.com

  3. www.odlmarkets.co.uk          www.odlmarkets.com

  4. www.ibfx.com

  5. www.fxcm.co.uk
I want to make this quite clear, I will not endorse any broker. They all

have good points and bad points but remember they are companies

who operate to make money, do not be fooled into any offers to

entice you to open an account with any particular broker. In fact

ignore any offer no matter how good it seems when making a

decision which broker to use. I will give you an example. Recently a

broker offered a 10% bonus if you opened an account with them

they called it a birthday celebration. You simply put in £5000 and

they would add £500 to your account, your account then registered

the balance of £5500 however you could only use your original stake

of £5000 to qualify, and to be able to use the other £500 you needed

to make a couple of hundred trades over a one month period. This

was almost impossible to achieve and did they tell you this before

you placed your money with them, of course they did and guess

where, yes you guessed right in the small print. Anyway that's my

point over. My preferred choice of broker is Alpari. That said a broker

you may wish to consider is Gallantfx, why because they offer a VPS

service (virtual private server) and are not NFA registered. This
enables you to trade and use the EA’s we spoke about without

having to turn your computer on and off all the time, you can login

from anywhere in the world and access your account and make

trades. Plus at the time of compiling this manual, the NFA in the USA

are placing new regulations on their registered brokers. Some of

these rules will stop the use of most Expert Advisors, and also affect

the way we trade. Gallantfx have deregistered with the NFA so their

clients could trade without the imposing restrictions, so with this in

mind they are definitely my chosen broker if I wish to trade using an

E.A. Should you decide you would prefer a different broker then

please feel free to do so. One other important consideration when

choosing a broker is that some will use four digits and some will use

five. Alpari are a five digit broker, for those of you who will carry on

and do Masterclass mentoring we will discuss this at further at a

later stage on my live personal trades for those registered I give both

figures for four and five digit traders on my recommended trade.

However for now I want you to download a copy of meta-trader4

preferably from www.Alpari once downloaded simply select install,
the program will then automatically begin installing onto your hard

drive. When complete it will ask you your personal details i.e. name

address e-mail address and phone number, underneath you will see

the leveraged selection this is a drop down menu and I want you to

select 200/1. The currency is automatically set to US dollars, for now

you can leave this. When you begin to trade live, you can choose

British pound or even the Euro if you desire. Underneath this you will

see the deposit section I want you to change this amount to 3000 we

need to be as realistic as possible when Demo trading and don't see

any point in pretending we have a hundred thousand in our account

when this is probably not going to happen, not yet anyway, it will

give you a false sense of security. 3000 is a more realistic figure

some of you will start trading with 5000 whereas some may only

start with 500 please do not worry if you only have 500 to start with,

okay it may take a little longer to reach your desired figure but we

can still do it, so don't let that worry you. Once you have entered

these details you will now have your first demo account, and for the

first two months at least all I want you to do is trade this demo
account. I know you will be itching to get going live but please be

patient it is imperative that you treat this demo account with respect

and not deviate from any trading plan that we set up together. If you

are on the Masterclass mentoring session a personal private trading

plan will be completed with you, for those of you who simply want to

learn one or two basic trades and learn from this manual I will

remind you that you can still get a basic trading plan from my

website at www.forexCentral.com. On the CD you received with this

manual you'll also find a videos showing how to use metatrader4.

Please do not be tempted to click on everything you see regarding

forex trading expert advisors sites, many of them are simply trying to

promote expert advisers, every week a new expert adviser is brought

to the market and makes the seller over 1 million dollars. Ask

yourself this, if an EA was so good and made mass amounts of

money why would they sell it? Also other than the seller I do not

know of anyone who has made a million just using expert advisors.
What is an expert advisor? It is a software program or code that

places trades, stop losses and take profits for you, also known as a

robot. You simply activate then walk away and it trades all day and

night for you. To use one of these robots however, you would need

to leave it running and be connected to the internet for 24 hours a

day. I place EA’s into three different categories okay, rubbish and

absolute garbage, in my opinion 98% of all EA’s fall into the two

latter categories. The only way to become extremely wealthy when

trading forex is to do it manually, and with good money management

skills, which I cannot keep stressing enough. However that said there

are one or two EA’s out there that seem ok. And for all members

before you start parting with your hard earned cash please let me

look at them first, remember you are in this business to make

money, not to be easily parted. At the time of writing this there is yet

another one out this very week that everyone in the EA or Forex

business is trying to promote. This I believe does not run using

metatrader4. Also the hype says 100% successful, YEA, RIGHT. I

reserve the right to comment, but cannot name for legal reasons, but
if they are right, great, I can setup, leave running for a year or two

and I will be richer than Mr Bill Gates. NOT GOING TO HAPPEN. So

remember keep your money in your pocket. I will tell you when I

find OK EA’s. In the meantime along with the Live the Life manual

and this forex trading course I will included a BONUS GIFT my own

selected EA which is called GoliathFX. This will be supplied to you

with the last DVD in the course. The reason for this is because I want

you to become a professional trader and trade the correct way,

Manually. Anyone can load a bit of software and trade the lazy way.

That said Golliathfx is quite good. But you can only compare when

you have the knowledge. Not before.




I would ask you to demo trade the GoliathFX EA for 8 to 12 weeks

depending on the amount of trading experience you may have.




For most, this will be your first exposure to trading the forex market.

The EA's operation using the MT4 trading platform, and the market

in general, are all very new experiences to you, and running a demo
account for eight to twelve weeks, will not expose them to many of

the twists and turns that more seasoned traders know are common

events. You will see the EA as working very well and you will want to

enter the live market far too early. No! better to be cautious and stay

in the game than enter early and lose everything. When you first

start using Goliath you will notice that it places two trades. The first

trade is set to take the first amount of profit normally 30 pips or 300

if a 5 digit broker. Don’t worry if this sounds confusing it will become

clear once you start using it. When Goliath reaches its first tp (take

profit) the second trade will continue until it reaches the second tp

normally 100 pips or 1000 for a 5 digit broker, now the clever bit,

should the trade start to go against you and turn into the opposite

direction, Goliath will automatically place a new stop loss which

stops while you are still in profit, before going negative. The chart I

tend to use is the EURUSD on a 1M timescale.
Dreaded Drawdowns


One of the biggest problems with most EA’s is when your trade goes

into drawdown. Example, the EA has gone long (buy) but the market

has turned and is now going Short (sell). Depending on whatever

stop loss has been set, the market could bob up and down keeping

you in a negative situation, and this could go on for weeks without

placing any further trades. I know this is a right pain in the *%%^ but

it happens, deal with it. Never, I repeat never close a trade. For those

on the Masterclass you will get new settings every week, which

should help, but certainly not eliminate. All that said you should see

Goliath making regular profits, and hopefully when you experience

drawdown, and you will, it may come back into profit.




If a person is well versed in the forex market, skilled with the MT4

platforms operation, and experienced with trading automated

robots, the required demo period may be cut substantially, but we
must assume that most are not, and make our suggestions based on

that. If the decision to go live is based on the fact they are

comfortable with their skill and experience level, that's fine. If it's

based on the emotional rush of seeing positive results early on in a

demo account, it's best to be disciplined and patient, and gain the

experience they need in a demo account, where mistakes are far less

costly.
Manual Trading.


To become extremely wealthy you must learn to trade manually.

Trading an EA is fine, but if you are serious about retiring and

having a fabulous lifestyle then manual trading is the answer.




Technical Forecasting Versus Fundamental Forecasting




Fundamental analysis focuses on the economic forces of supply

and demand that causes the price to move higher, lower, or stay

the same. The second trading plan that I am including with the

Masterclass students syllabus is a Fundamental trading system.

Basically the intrinsic value is what the fundamentals indicate

what a commodity is actually worth based on supply and

demand. If the intrinsic value is under the current market price,

then the commodity is overpriced and should be sold. On the

other hand if the intrinsic value is higher than the current price
then the commodity is under valued and should be bought.

Obviously because I want to be able to show that trading does

not need to be complicated I am being very brief, but for those

wanting to live the life, as easy as possible with no more that one

hour of work a day, we will look at this a little more in the

coming months.




In the Living the Life manual I have included a simple trade which

can be placed before 8am GMT bearing in mind those who have

to work and leave home early. People who also need to build up

their own capital before retiring from work completely and

becoming a professional forex trader. The trade I am going to

show you is one I use myself daily which I call the ELS, also

known as ABS. I first learned this when I started trading a

number of years ago, and was recently reintroduced to by my

own personal mentor. It is so simple you will think to yourself is

that it; YEP I’m afraid it is. Who says it has to be complicated to

work? I personally do not use this now, mainly because even
though I know quite a few different trading systems, and

hopefully over the coming months I will teach you most of them,

I tend to stick to what I like and works best for me. I personally

use this strategy daily and it is the first trade in my masterclass

series. I have included this strategy with the consideration that

you work during the day and you can place the trade before

8:00am GMT. Some of you will be able to place a trade before

going to bed and it will trade while you are sleeping. Anyway,

finally I give you the manual trading system the ELS.
ELS EARLY LONDON SESSION


 Please note if you do not fully understand the following

 trading system. Please do not worry, I will be showing you

 how to trade this system live on your very first trading DVD.




 The ELS also known as the Early London Session is a trading

 system I personally regularly use, it is a favourite of mine and

 works well for me.      This was taught to me by my own

 personal mentor and is sometimes called the ABS system.

 Every morning at about 7.30am I look at the GBP/USD chart

 with a 1 hour timeframe. To do this you simply select file on

 the top left of the MT4 program and then click new chart

 select GBP/USD and the chart will appear on your screen,

 then select the timeframe of 1 hour which is denoted by the

 H1 box just above the chart, and that is it. Simple isn’t it? To

 make viewing easier I have altered the colours of the candles
on my chart so I can see it more clearly, but that is simply my

taste. Should you want to use my style, watch the MT4

installation video which I have included on the CD, which

came with this manual. Now back to the trade, we now have

our 1hour GBP/USD chart and the first thing I do is place a

vertical line over the 21:00 hour candle and another vertical

line over the 07.00 hour candle. I am now only interested in

the candles between the hours of 21.00 and 07.00 GMT.

Because I placed the two vertical lines at both times I have

stated it is now easier for me to see. Next I will place two

horizontal lines, one at the highest point between these two

time frames which in the graph is 1.6530 at the highest point

and the lowest at 1.6417. Next I use my calculator to work out

the difference between the two and find it is 113 pips. Please

always use the calculator to avoid any mistakes.




What I want you to do now is go away load your GBP/USD

chart 1hour, find the candles timed at 21.00 and 07.00
candles and place a vertical line over each, find the high and

low points between the two times and place a horizontal line

at the highest point and another horizontal line at the lowest

point. Using your calculator work out the difference between

your two horizontal lines. Because you are using a demo

account on the MT4 we can practice and make as many

mistakes as we want. Remember patience, practice and good

money management will make you the trader I am hoping

you will become. On a morning when placing my own trade, I

never try to work out the sum in my head. I always jot it down

on a piece of paper and use a calculator, I then check and

double check before I place an actual trade. Anyway please

do as I say and we will talk later.




Have you done what I asked? Great welcome back, you have

now mastered your first chart with the correct timeframe.
On the graph above you will notice I have placed two arrows.

The first pointing to the low, which is 1.6417 and timed at

22.00 GMT. The second points to the high at 1.6530 timed at

07.00 GMT. I have placed a horizontal line across the low and

again at the high. The difference in price between the two is

113 pips.
Now I place the long (buy) trade. Whatever the high is

between the hours of 21:00 and 08:00 GMT I place a pending

buy order at the price of 2 pips above that price. For instance

the price on our chart is 1.6530 so I place my order to buy at

1.6532. If your broker uses 5 digits then you must ignore the

last digit. In our case say the price is 1.65306, ignore the last

digit 6 and add the two pips to the preceding digit so again in

our case we would now have a buy at 1.65320. I tend to

always place the last digit as a zero. We now enter our stop

loss. This is simple because it is the low we marked between

the hours of 21:00 and 08:00GMT which is 1.6417. Finally

having already worked out the difference between the

highest and the lowest point as being 113pips so we add that

number to our buy price of 1.6532 which now gives us a take

profit price of 1.6645, once you have done this click the place

button. Next we enter our short (sell order), this is the exact

opposite of the buy order. Select new order and then pending

order. In this case we want a sell stop order. The order price is
our low figure of 1.6417 minus 2 which gives us our order

price of 1.6415, next is our stop loss, again easy it is the high

price we marked. So our stop loss is 1.6530. And finally our

take profit which is 1.6415 minus the 113 pips 1.6302. Once

these figures are entered select place and that’s it the job is

done. All we do now is wait for our order to be activated. We

have nothing more to do. A little while later our long price

touches 1.6532 and our buy order is activated. Great the price

rises and once it reaches 1.6645 which is 113 pips above our

order price, it will automatically close giving us a profit of 113

pips. Fantastic if we could do this everyday. But just suppose

it is activated but the market turns and starts to go short,

well, we do not panic it may turn again and give us our profit,

if it does then great but if not and it continues to go down and

reaches your stop we have just lost 113 pips. But wait it

continues to go down activates your sell order and finally

reaches your take profit. What has just happened? Well we

lost on the buy trade, but made a profit on the sell trade. Our
winning trade has cancelled the loss we made on the losing

trade, so it was a break even day. Better this than lose. Please

note however some day’s our buy could be activated then the

market turns, reaches our stop giving us a loss of 113 pips. It

then activates our other trade and the market turns yet again

and reaches our other stop loss which is now a total loss on

the day of 226 pips. Not a good day to say the least, but not

one to worry about. Remember we have a good money

management plan in action. This will happen and when it

does there is nothing you can do about it, but over time by

using this system you should make a profit.




As a final note, when using the ELS system, once a trade has

been activated, then closed out making you a profit, close the

other trade waiting to be activated. Also if no trade has been

activated by 13:00 GMT then close both trades. But please

remember never, ever close an open trade, let it run until you

have reached your TP or Stop.
Stop Press.




Do not worry if you don’t fully understand the ELS strategy.

Since writing the ELS system I have made a spreadsheet

template for you I have included this on the GoliathFX CD

which you have received.




Everyone on the monthly mentoring plan will be shown a new

strategy each month for 12 months. During the twelve

months of mentoring, you will obviously be shown no less

then twelve strategies and survival techniques. You do not

need to trade using every strategy, just learn them. You may

then decide that you prefer two maybe three of these

strategies. Everyone is different, whatever suits you best. For

instance I like the ELS some of you my find it unsuitable, or

not to your liking. It may be profitable for some while for

others it may lose. This can happen which we will discuss in
greater detail later. But as a taster I will show you what is

planned for your first two months trial.




Month 1 will be a complete review and understanding session

of the ELS strategy step by step visual instruction.




Month 2 will consist of 2 modules. Money Management

followed by a fundamental method the Daily News Alert

Strategy.




Word of warning. OK you have learned a single trading

technique. This does not make you a master trader. You will

get there with patience, practice, confidence, and with my

help. Your new future starts here today. Make the new you

determined to succeed, watch my DVD’s repeatedly if

possible. Study, learn, and practice all I show you, and you will

live the life you deserve.
Well that’s it. I look forward to working with you and starting

out together on your new path.




Good Luck and Happy Trading.



 Colin Richard Nicholson

								
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