Download - Double In a Day Forex Technique

5/23/2018 Double In a Day Forex Technique

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Copyright2012Expert4x. All rights reserved The Double in a Day Forex Trading technique Page 1of 11

The Double in a Day

Forex tradingTechnique

Version 1.0

Copyright2012Expert4x. ALL RIGHTS RESERVED. This ebook is intended for the receivers personaluse only. No part

of this eBook may be reproduced or transmitted in any form whatsoever, electronic, or mechanical, including photocopying, recording, or

by any informational storage or retrieval system without express permission from Expert4x.
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Double in a Day Forex

Doubling your Forex accountin a day is every Forex traders dream.

Many people dont realize how possible this really is.

All you need is:-

1. The correct type of trading account

2. Knowledge of how many lots to use

3. Knowledge of how to add to your position4. The ability to identify volatile reversals in the market

5. A gambling instinct that lets you know when you have stacked the odds in your

favour.

And whatsmore you can double your account in ONE day in ONE transaction.

There is further discussion of the Double in a Day Club at the end of this book.

Please read the disclaimer at the end of this eBook as this is a very high risk, high return

strategy. However, using this concept, a trading account was taken from $ 7 822 to $ 78 538

in only 3 day and 3 successful trades. All that gain with an initial risk of only $ 1 500 on the

first transaction.

To view the Double in a Day concept and Recent Double in a Day results (click on the picture

below)
http://forextradeoftheday.com/pivot-plus-helps-traders-double-in-a-day-forex-trading-strategy/


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1. The Correct trading Account TypeThis is the easy part you simply need an account that gives you 500:1 gearing. This allows

you to place the correct amount of lots in your initial entry. It also allows you to add to your

position without having margin limitations.

Starting with a micro account with a very small balance is a good start for this type of

trading method.

For more information click here:-

http://expert-4x.com/forex-broker-accounts-that-will-double-your-trading-account

Most traders trading the Double in a Day technique open 2 accounts with the same broker.

A trading account and a reserve account. They can then transfer money between the 2

accounts as needed. For example, if your trading capital is $ 3000 you would have $1 000 in

your proper trading account used for the Double in a Day trades and keep the balance, $ 2

000, in the reserve account. Any gains can also be transferred to the reserve account.

You are, of course, free to only use 1 account and you dont need to follow the above

practice.

Certain Forex traders in countries that do not allow highly geared Forex accounts (such as

the US) may not be able to participate in this Forex trading technique.
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2. Calculating your initial lot sizeRemember that your goal is to double your account. This will normally take one transactionof 80 to 100 pips.

So to calculate your required lots you need 3 bits of information.

1. Your account balance: Lets use $1000as an example

2. The number of pips you are assuming for your trade: Lets use 100 pipsin this example

3. The value per pip of the currency traded: Lets say this is 10c for a micro lot

You simply divide $ 1000 by 100 pips to give an answer of $10 per pip. This is the amount

you need to earn per pip. If each pip is worth 10c then you will need 100 micro lots.

Check: 100 lots x 100 pips x 10c per pip = $1000 (You will have doubled your account)

Because of the fact that we will be increasing our lots during the transaction after 50 pips

(See the explanation below) you can reduce the initial number of lots to 80% of your

answer. 100 lots x 80 % = 80 lots. So can start with 80 micro lots for a $ 1 000.

We do not recommend stops larger than 20 pips for this type of trade, so your initial risk in

this example will be 20 pips x 80 lots x 10c = $16016% of your account.

This gives you a 100 : 16 return of risk ratio. If you were trading a $1 000 account every timeyou would only need 1 in every 6 trades to be successful. 6 losses of $160 = $960 and 1

winner is $1 000.


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3 Adding to your lots

When your transaction reaches halfway to the target (50 pips in the above example) you

should increase your initial lots by 50%. So you would add 50% of 80 lots and that would be

40 lots. These lots will have the same target as the original lots.

Now is also a good time to move place your stop to ensure a risk free deal. This is done by

simply placing the stop for both transactions at 20% of the target length from the entry. So

in the above example you would place the stop where your initial transaction has made a

gain of 20% of the target.

This means that if the price retraces to the 20% of target level the situation will be:

A profit of 20 pips on the original transaction 80 lots x 20 pips x 10c = $160 and.

A loss of 30 pips on the top-up transaction of 40 lots x 30 pips x 10c = - $120

A small gain of $40 for your efforts. But remember what you stand to gain if the target is

reached.

80 lots x 100 pips x 10c = + $800

40 lots x 50 pips x 10c = + $200

You have doubled your account by making $1 000 on a $1 000 account with one transaction.

Calculations for an 80% target based on a 20 pip stop

For a $ 1 000 account an 80 pip target requires 100 initial lots and 50 top-up lots when the

+40 pips level is reached.

100 lots x 80 pips x 10c = $800

50 lots x 40 pips x 10c = $ 200

Your initial risk will however be higher at 100 lots x 20 pips = $ 200 or 20% of the account.

This means than 1 in 5 trades have to be successful to breakeven if the account balance is

maintained at $1 000.


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4. The ability to identify volatile reversals in the marketBy this we mean that you need to find reversals (or the immediate start of a trend) that

requires a small stop and has the momentum to run for 80 to 100 pips in your direction

without a major retracement.

As you must know, achieving that level of expertise is incredibly worthwhile. You will have

developed a skill that will literally allow you to print money over an extended period of time

for the rest of your life. You will be able to create a life style where you can trade where

ever you want and how often you what. This means true freedom from any financial

limitations.

To achieve the level of expertise achieved by a trader who doubles his Forex account

regularly below are some of the areas that have to be addressed. The points mentioned

below are not the only ones, but they are the main ones.

Using the correct type ofForex trading account Knowing how to manage and measure risk Knowing how to add or scale out of your position. Using fundamental information to determine the relative strength of currencies Using the best currency crosses based on technical and fundamental information Knowing how to apply and use probability theory to the Forex market Knowing when and where the likely turning points in the market will occur Having and developing the appropriate Forex trading psychological approach Developing your Forexpsychic and intuitive abilitiesand creating luck Using Technical analysis to determine entries and exits Sources of Forex trading information Putting it all together in a competitive Live Forex trading environment

On the day however, it boils down to finding the right currency and the right time of day

(moment) to enter the transaction.and a bit of luck

Your ability to do this is considerably enhanced if you are competent at trading using the

following approaches:

1) Channel trading is the one system that gives a trader that chance of catching

between 95% to 85% of a Forex trend. Channels appear quite regularly in the GBP

crosses and are discussed in Barry ThorntonsLong Candle Forex trading Course.
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Channel trading approaches

2) Dominant Angle trading is similar to channel trading but the concept is that non

horizontal support and resistance follows the consistent angles for up and down

movements over long periods of time (months). Knowing these angles helps

determine potential turning points in the market. Again these are covered in Barry

ThorntonsLong Candle Forex Trading Course.

Dominant angle approach

3) Knowing and applying technical analysis techniques to find turning points in the

Forex market. These techniques are covered in courses such as the Simple-N-Easy

Turning Points course,theFinancial Turning Point course,thePivot Plus techniqueandGood Vibrations technique.

Using support and resistance, beats and vibration rates

4) Time of day factors (trading at the right moment) are very important when trading withsmaller stops. Time of day factors are covered in theSimple-N-Easy Times course

5) And a few other factors such as trading with volume and using fundamental informationetc.

So there you have it all you need now is a .
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5. A gambling instinct that lets you know when you have stackedthe odds in your favour.

No matter what anybody tells you, Forex trading is not much different to gambling. The

market is pretty random and there is no telling when a huge order or unexpected news can

suddenly reverse a trend by 100s of pips.

Therefore you should only risk money that you can afford to lose and that will not cause you

to lose any sleep.

The Double in 1 day technique is a high risk, high returntechnique. It is not one where you

should be risking excessive amounts of your capital on. It is a bit of a gambling technique.

However if you get it right it can become a long term investment where you risk appropriate

amounts of your capital to make a comfortable return.

The main difference between Forex trading and gambling is that you can stack the odds in

your favour with a good Forex trading education, trading experience and you can time your

entries using high probability setups.


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Join the Double in a Day Club

Expert4x will be starting a Double in a Day Club which will generate Double in a Day Alertsand have fortnightly webinar meetings.

The Alerts will mainly take place at any time (6:00am to 12:00pm) during the European

morning session and pending or market orders will be emailed to club members.

The webinar meetings will be held to discuss results to date but also to cover educational

aspects such a dominant angle, channel and other trading techniques.

This is a High Risk / High return type of service and no success guarantees are given.

Membership of the club is currently free.

Please use this facility to become a Double in a day Club member.

Double in a Day
http://forextrading-alerts.com/Doubleinadayclub.htmlhttp://forextrading-alerts.com/Doubleinadayclub.html


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Questions and Answers

If you have any questions regarding the information supplied in this book please contact us

using this facility

Contact US

Or better still place a comment on this posting. By doing this other traders will be able to

see your question and the answer

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Forex Disclaimer

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past performance of any trading system or methodology is not necessarily indicative of future results.

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