Fear and Greed: Two Strong Emotions to Manage in a Grain Weather Market

There is nothing like a rip-roaring "weather market" in the grain futures to seriously challenge the two most important emotions a trader can experience: fear and greed. In the heat of a weather scare in grains, prices become extremely volatile and trader emotions run very high, as the latest weather forecasts can and do turn markets "on a dime."

Some would argue that "fear" and "greed" are terms that have been over-used and over­emphasized in our industry. Yes, they have been bandied about a lot, but for good reason. In general terms, too much fear in trading will not allow a trader to even pull the trigger to enter a trade. Or, even if a trade is entered, fear will prompt a trader to set a stop that's too tight, or to exit a trade before a strong-trending move gets well under way. Importantly, fear can cause a trader to lose sleep at night, which by itself can cause a myriad of problems.

Generally, greed will cause a trader to become intoxicated with thoughts of hitting the "grand slam" of trading, instead of being content with a base hit or even a double. Home runs and grand slams occur only rarely in trading futures. However, weather markets do allow for numerous base hits and a few doubles--and even a triple here and there.

Trading a full-blown weather market in the grains--and surviving to trade again another day--is a great experience for all traders. While there is some degree of a weather market scare in the grain futures nearly every year, the "full-blown" and highly volatile weather markets that are usually marked by severely dry weather conditions in the U.S. Corn Belt come around only once in a few years. While the year 2002 does not compare with the last major weather market of 1988 (at least not as of this writing), it does rank well above the "run-of-the-mill" weather markets that occur about every year in the grains.

Here are a few valuable lessons that a trader can learn by trading the grains during a weather market--lessons that can be applied to trading other markets during more volatile trading conditions.

¾ My experience in trading weather markets is that there is tremendous pressure on all traders to "follow the herd." Deviating from the consensus market opinion is not easy. However, it's the traders that can step in and sell into rallies or buy into dips that seem to have more success in trading weather markets. In other words, doing some contrary thinking and trading can pay dividends in weather markets.

(I'll give you an actual example of how contrarian thinking and trading can be successful

in the grains. The year was 1988, the last big drought year in the Midwest that saw corn

and soybean prices skyrocket. It was a Friday in July that saw corn and bean prices trade

sharply higher, based on ideas the hot and dry weather would continue in the Corn Belt.

Then, after the close, the National Weather Service issued its 6-10 day forecast that, sure enough, called for more hot and dry weather for the Corn Belt. Bulls confidently headed home for the weekend. Even "local" traders on the Chicago Board of Trade floor went home long--something most never do, especially over a weekend.

Well, come Monday morning, the updated weather forecasts had changed a bit, but more importantly, trader psychology had changed immensely. The drought and resulting poor yields had all been factored into the market with prior price gains, culminating with Friday's big push higher. Corn and bean markets traded limit down on Monday and recorded very sharp losses for around three days in a row.

I know of one trader who used contrary opinion thinking and bought put options on corn that Friday that prices were pushing higher. He made a good deal of money that next week. )

¾ For bulls, it's important to remember that markets are the most bullish at the very top--it's downhill from there. Recognizing the clues that suggest a top is in place in the grains, during a weather market, is especially difficult, as technical indicators can become less reliable. Thus, being content to catch a bigger part of a price trend should be the goal of the trader. Don't be disappointed if you did not capture all of a price move in grains in a weather market. Becoming greedy and trying to do just that will usually get a trader into serious trouble.

¾ Pyramiding trades or "averaging down" losing trades is a no-no. (Unless, adding futures positions was in your initial trading plan of action.) One cannot believe the extreme temptation there is to add to winning positions when a profitable trade is occurring in a weather market in grains. Being long soybeans and hearing a bullish weather forecast heading into the weekend certainly invites adding a couple more long contracts on Friday. But that is pure greed kicking in. Greed in trading is not good.

That is it for this week. You can also visit my daily blog at www.traderblogs.com. Have a great weekend!

Jim Wyckoff became a financial journalist with Futures World News for many years, cutting his teeth as a reporter on the futures trading floors in Chicago and New York, where he covered every futures market traded in the United States at one time or another. Click here for full bio >>

10 Rules For Successful Trading

Traders have developed lots of rules over the years in an attempt to refine the way they make trading decisions. So it’s not hard to come up with a list of 10 trading rules that can be part of a trading plan. Some are generic and general and not exclusive to any particular trader or trading approach. Others can be very precise as traders tweak rules into their trading system. The rules below have been selected for their broad appeal to many types of traders. They are presented in no particular order of importance.

1. Don’t trade markets about which you know very little.
This is not to imply that you have to be a fundamental expert on every market you wish to trade. However, you should know about what fundamentals are impacting, or could impact, a market you are contemplating trading. For example, a person who has only traded grains would not want to jump right into a Treasury Bond futures trade without first doing a bit of homework on how the bond market trades – price increments (dollar amount per tick), trading hours, on what exchange the market trades, etc.

A trader could pick up a Wall Street Journal and read the “Credit Markets” section for a week or so to become familiar with fundamental factors that influence the bond market. Also, consider this: Most traders enjoy the process of trading. If they did not, they would likely just hand their money over to a “fund manager” and give the manager discretionary control over their money. Learning and knowing what fundamental factors are impacting or could impact a market that a trader plans to trade is part of the process (enjoyment) of trading.

2. Don’t trade hot “tips.”
You may trade for 20 years and never hear a good trading tip. Reason: There aren’t any . . . at least not any that are any good for regular individual traders. Markets are way too big and too tightly regulated to be impacted by any tips or inside information. Any legitimate “early information” has almost certainly already been factored into the market price structure by the time most individual traders could ever benefit from it.

Don’t confuse tips with rumors. Markets do move on rumors more than just occasionally. Rumors are a part of trading but still fall into the category of “not much use” to off-floor traders. Besides, many rumors are never confirmed as fact and are often self-serving to those who try to start them.

3. Don’t get too fancy with your market orders.
Entering a trade “at the market” with a market order may be the best way to enter a trading position, especially in markets that are liquid (have high open interest). It’s certainly the easiest way to enter. Fiddling around with limit or stop-limit or other multi-step orders to save a tick or two or three can cost a trader a good entry point or even a missed trade altogether.

It’s certainly easy to be guilty of this offense because every trader is always trying to get just a little better price. This doesn’t mean that limit or stop-limit or other types of orders are not useful in certain circumstances because they are. However, most trade entries are best made “at the market.” Look at pitchers in major league baseball who “nibble” with their pitches around home plate. Most wind up with a walk instead of an out.

4. Don’t form a new market opinion during trading hours.
This rule goes hand in hand with the rule that says you need to stick to your trading plan of action. Day-to-day market “noise,” or the minor up-and-down price fluctuations of a market, can be at least distracting to a trader and at most prompt the trader to make a hasty and poorly founded trading decision.

5. Don’t force trades; if you don’t see a trade, stand aside.
Don’t chase a market just to put on a trade. Try to exhibit patience and discipline in trading – easily said but hard to follow. Patience and discipline are not easy virtues for any trader to learn because a typical futures trader has a “Type A” personality with a competitive nature who hates to wait in lines. However, to have even a chance at success in trading, you have to control your impatience. If you happen to miss a trading opportunity because you waited too long, other trading opportunities will come along.

A good trade is usually profitable right from the beginning. If the market price moves “your way” in the first couple days after you’ve executed the trade, then odds are significantly higher that your trade will be a winner if you have waited patiently for the right position. This rule reinforces the notion that tight protective stops are an important part of trading success. But there is a time to be impatient: If a straight futures trade is under water after two or three days, more times than not it’s prudent to take a small loss and move on. Do not be patient with losers.

6. Use intermarket analysis to spot trading opportunities.
No market trades in isolation but is influenced by what is happening in a number of related markets. Don’t focus on just one market as much of today’s single-market technical analysis does. Instead, take into account developments in other markets that are likely to affect prices in your target market. If you trade stock indexes, you have to be aware of what is taking place in interest rate, currency and commodity markets such as gold. The price of a market you want to trade may be the sum of what is happening in ten or more interrelated markets.

7. Watch open interest statistics, especially in options.
When you are contemplating trading any contract, make sure to first check the open interest for that specific contract or strike price. If a futures contract or options strike price has a low open interest total, it is probably best to seek out a more liquid contract. Fills on both entry and exit can be tough and may produce more slippage than is desired. When you get into a position, be sure it is liquid enough so you can get out on favorable terms.

8. Know what you can and cannot control.
You can control the market you want to trade. You can control the type of market order you want to give your broker. You can control when you want to enter the market. You can control the amount of contracts you wish to trade. You can control when you want to exit the market.

But you can’t control the market, which often has a habit of doing unusual and unexpected things. Knowing and prudently managing the market factors you can control and knowing that you cannot control the market gives you a trading edge.

9. Make the market’s action confirm your opinions.
If you have a particular market on your “radar screen” for a trade, don’t just jump in based on a hunch or a “gut feeling” or because you want to get a fill right away. That’s when a market order advised above may not be in your best interest. Make the market first confirm your opinion. Make the market show you some strength if you want to be long, or make it show you some weakness if you want to be short.

10. Do not overtrade.
Trying to trade too many markets or too many contracts in one market can create problems for an undercapitalized trader. There is no set rule for how many markets a trader should trade at one time. Some traders can trade many markets at the same time and not have a problem. However, if you are feeling stress about a position you are carrying or can’t keep up with what’s going on in all the markets you are trading, then you are likely over-trading.

For those traders who are really not sure how many markets to trade at one time or how many contracts to trade for each position, it’s always better to take a conservative approach. Step in slowly until you become comfortable trading in a larger size or in multiple markets.

Top 10 Rules For Money Management

You may be filled with knowledge about trading or have a sound trading system using the latest technical indicators, but most professional traders will tell you that the single, most important factor in futures trading success is using good money management principles. A higher percentage of winning trades or yet another trading tool may be helpful, but if you do not have a good money management plan in place for trading futures, you are not likely to remain in the trading game very long. You need to develop your own money management program for entering or exiting markets, sizing your positions, etc. based on the size of your account and your trading style, but here are some principles to guide you, listed in no particular order.

1. Bulls make a little. Bears make a little. Pigs get slaughtered.
In other words, do not be a greedy trader. If you are a bull, don't expect to get in at the bottom and out at the top. If you are a bear, don't expect to pick an exact market top and ride a market all the way down to the lowest low. Thinking otherwise allows the destructive "greed" emotion to take over. Greed has been the ruin of many traders.

2. Any fool can get into a market, but it's the real pros that know when to get out.
Indeed, market entry is certainly an important element of successful trading. However, exiting the trade is paramount. Many times a trader will allow a market to "go against" him or her for way too long and way too far--meaning big trading losses. See next item.

3. Use protective buy and sell stops.
One of the major mistakes many traders make is not using protective buy and sell stops when they enter a trade. Or, traders may pull their protective stop, "hoping" the market will turn in their favor. Don't be fooled into using "mental stops." Determining where to place protective buy and sell stops BEFORE market entry is one of the best money-management tools available.

4. Don't put all of your eggs in one basket.
Using a large percentage of your entire trading account for one trade is unwise. Remember that even professional traders will have more losing trades than winning trades over time. The key to success is minimizing losses on the more numerous losing trades and maximizing profits on the fewer winning trades. See next item.

5. Cut losses short. Let winners ride.
Using a pre-determined protective buy or sell stop will cut your trading losses short. Using a trailing protective stop on trades that become profitable will allow you to maximize profits on the winning trades.

6. Only the markets know for sure.
Don't ever think you "know" what a market will do at any given point in time. One of the biggest advantages for sound money management is "knowing that you don't know" what a market will do at any given time. A recipe for trading disaster is thinking you know that a market will do. Remember the old trading adage: "Markets will do anything and everything to frustrate the largest amount of traders."

7. Be humble.
When trading profits are taken, be glad that it was not a trading loss. Don't grouse because you left a bunch of money "on the table" after you exited your winning position.

8. On selling options, use caution.
There are some traders who do sell options on futures (as opposed to buying options) and make profits doing it. And there are many traders that don't. I heard a veteran speaker at a trading seminar once say: “I made over 40 trades selling options in a year, with 97% winners--and still lost money.” Remember the old saying that if it sounds too good to be true, it usually is.

9. Don't over-trade.
Trying to trade too many markets at one time is not good money management. If you run into a losing streak, cut down on trading--DO NOT try to trade more markets just too quickly recoup lost money.

10. To succeed at trading markets, one must first survive at trading markets.
Be conservative with your trading account and trading methods--especially if you are a less experienced trader. Go for those "base hit" trades, and don't swing for the fence and try to hit a home run in a trading decision. Traders need to survive to trade another day, if the absorb a few losing trades.

Trading Forex The Mini Way

Trading forex

the mini way

While foreign currency is the world’s largest financial market, it can also be quite cost prohibitive. However, with mini forex futures and mini spot trading, traders can participate in the forex world with much less money at risk.

By Darrell Jobman

Because of its global reach, the forex market has become a favorite of traders from professional money managers seeking to diversify their portfolios into a new asset class to

individual retail speculators trying to make a profit. The forex market is attractive to traders for many reasons. Because it trades virtually around the clock, it reacts instantaneously to geopolitical tensions, natural disasters, and economic reports.

“For some traders, abrupt price changes could be devastating if they trade the larger forex contracts,” says Jim Wyckoff, senior market analyst for TradingEducation.com. “Trading mini forex lots or mini currency futures contracts gives them much better leverage than they can get in stocks, where they must put up at least 50 percent of the purchase price, and with much less risk than they might have in the futures markets.”

Where to trade?

Traders with experience in futures may want to trade forex futures; those more familiar with stocks and bonds may be more comfortable in a spot (cash) forex account. The decision could also depend on the amount of money available. Trading both futures and spot forex requires separate accounts, although firms that handle transactions in both venues can transfer money quickly from one account to the other.

Futures. The Chicago Mercantile Exchange lists futures on a number of foreign currencies, including the Polish zloty and Israeli shekel, as well as some cross-rates. However, most of the activity is in the “majors” — euro, Japanese yen, Swiss franc, British pound, and the New Zealand and Canadian dollars — vs. the U.S. dollar. Most of the trading is done electronically. Each trading “day” begins at 5 p.m. and runs overnight through 4 p.m. the next day. The best liquidity is between 7:20 a.m. and 2 p.m., the regular pit-trading hours.

There are only two mini-forex futures contracts: the euro (E7) and the Japanese yen (J7). Both are half the size of the regular contract, with a one-point move worth $6.25. Typical margin set by the exchange (which can change) is around $1,400 per mini contract compared to $2,700-$2,800 for the full-size contracts.

The quoting convention for some currency futures may be a little strange. Instead of a cash market price of, say, 110 yen per U.S. dollar, forex futures trade in terms of dollars per yen, or 0.009091 in this case (9/10 of a cent).

The advantages of futures include trading in a centralized marketplace with multiple bid/ask prices; pricing is transparent and available to everyone, regardless of size or location; there is no counter- party risk because the exchange clearing organization is on the other side of every trade; and anonymity for those who want it. Futures advocates contend that your biggest risk as a spot forex trader may not be market risk, but the firm you are dealing with. Many spot forex firms are not regulated by any government agency.

The cash forex market. The standard trade-lot size in the cash forex market is 100,000 units of a currency, but each lot in a mini forex account is only one-tenth that size, or 10,000 units. A one-point change in price (i.e., a “pip”) is usually worth $1 in a mini lot instead of $8-$10 in the fullsized version. As a result, risk in a mini forex account is much less, and the amount of margin needed may be only several hundred dollars. However, a larger amount is recommended (the minimum is set by each firm, not the exchange as is the case in forex futures).

For the trader trying to learn the ropes of forex trading or wanting to test a trading strategy, the lower financial outlay is welcome news. Of course, profits also aren’t as large, but if one mini lot is too small for you, there’s nothing that says you can’t trade two or three lots, or five lots or 100 lots, especially as you become more experienced in forex trading. This provides more flexibility to scale in and out of positions at different price levels.

Most spot forex firms also list 20 or more pairs, so you aren’t limited to trading a foreign currency against the U.S. dollar. It’s just as easy to trade, for example, the British pound against the Japanese yen, giving you additional opportunities to profit.

In almost all cases, whichever pairs are available for trading in a full account can be traded in a mini account. However, you should double-check with the brokerage just to be sure.

In addition to the smaller size, lower margins, less risk, and greater flexibility, there are other advantages to mini forex spot trading. There is true 24-hour trading with no overnight gaps (Table 1); bid/ask prices are always available, even in thin trading hours; and there are no quarterly contract expirations, so time and contract month are not considerations as they are in futures.

Plus, spot forex firms typically provide customers with real-time quotes, charts, and news at no charge (even for mini forex traders), as well as a trading platform and demo or simulated accounts in which traders can practice before they begin trading with real money. If you are shopping for a mini forex firm, be sure to check out all of these features as well as its margin and leverage rules.

The mini forex contract may seem small, but it’s one of the best ways to get more bang for your buck with the least risk.

Darrell Jobman is Editor-in-Chief of www.TradingEducation.com, which provides free daily and weekly commentaries for traders. He is an acknowledged authority on the financial markets and has been writing about them for more than 35 years.

Source: TradingEducation.com

Why do you want to trade?

You may be comfortable accepting the fact that you don’t know everything there is to know about trading yet, but you definitely should have a good idea about several things when you get into trading. The first is why you want to trade in the first place. People have a number of motives for trading, all of which have merit, but you should be clear what it is that is driving you into trading. Your reasons for trading may go a long way in determining your trading style.

Profits
Probably every trader’s goal is to make money. But if that is your main reason for trading, are you willing to do what it takes to achieve this goal? It will mean you have to provide the seed money and other resources you need to be successful, and it will involve a commitment to learning to gain trading experience.

If trading is going to be your business, you obviously have to put making money high on your list of goals. That requires consistent, strong discipline and the ability to control your emotions as none of the experience or success you have gained in other areas will guarantee that you will be a success in trading. Your trading approach may even be boring, but if your real goal is making money, you will have to have the discipline to stick with a trading plan.

Being ‘right’
Are you a person whose greatest satisfaction comes from being right about things? Traders generally love to compete and be better than everyone else in whatever they do. Just having the opportunity to crow a little about their prowess is their biggest reward.

However, trading may be one of the worst places to look to feed an ego. Whatever success you have had in other aspects of your life may not transfer very well to the trading arena, which has been known to humble even the strongest ego. Of course, traders have to have a strong sense of ego to have enough confidence to trade, but you’ll have to keep that ego in check whenever you enter a market position if you want to survive as a trader.

Excitement
Trading certainly can provide plenty of excitement, both highs and lows, and that may be reason enough for trading. But expect to pay an entertainment tax. Just being in a market position can be exhilarating and can inspire you to keep up with what’s happening in the market and in the world’s news events.

However, to be successful over a longer term – unless you have deep pockets – you usually will have to forego the excitement and emotion generated by trading, just as you have to keep a lid on your ego trip. You naturally will experience some excitement whenever you are trading, but it is a factor you must control. If excitement is an objective of trading for you, perhaps the solution is to have one account you trade conservatively and another account where you get a little wilder.

A Foreign Exchange (FOREX) Trading Primer

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The largest traded "market" in the world is not the U.S., Japanese or European stock markets. It's the foreign exchange market. It's called Forex for short, or also called the cash currency market. Speculators can and do trade this huge market, in which nearly 2 trillion dollars (and other currencies) can change hands every day.

The main function of the foreign exchange market is to provide the mechanism for making cross-border payments and determining exchange rates between currencies. Major components that make up the Forex market are the spot market (37%) used by traders and speculators, swaps (43%), and options and forwards (20%).

A Forex trade is executed through the simultaneous buying of one currency and selling another (currency pair). While most currencies are tradable, five currencies (four currency pairs) represent the majority of foreign exchange trading volume. They are the Euro ( EUR/USD), Yen (USD/JPY), British pound or cable (GBP/USD), and Swiss franc (USD/CHF).

Figure 1 – Chart showing breakdown of currency pairs traded on Forex markets. Source: Triennial Central Bank Survey 2004.

A major difference between Forex and other financial markets is that the former is open 24 hours a day. The trading day begins in Sydney, Australia on Monday while it is still Sunday in North America and Europe, and ends in New York on Friday afternoon.

There are no commissions in Forex trading--only point spreads measured in pips, with one pip being equal to one-tenth of one percent (0.01%). Since the point spread in pips represents the cost of entry, it is desirable to keep it to a minimum and why major currency pairs are most popular. The majors experience the tightest spreads, often as low as three to four pips.

Spot currency trading lots typically are worth $5 million to $10 million, with the minimum contract size being $500,000. Amounts smaller may be traded with some firms offering minimum investments of as little as a few hundred dollars on margin far exceeding 100:1. However, this is extremely risky and therefore not recommended. Currency futures and options contracts may also be traded for much smaller amounts, but firms handling the trades generally charge commissions.

FOREX Trading Becoming Ever More Popular
Of all financial instruments traded, Forex is believed by many traders to be the best suited for technical analysis, for a number of reasons. First, it dwarfs all other markets by trading volume. According to an April 2004 Triennial survey for the Bank for International Settlements, average daily turnover in traditional foreign exchange markets (Forex) amounted to $1.9 trillion in the cash exchange market and another $1.2 trillion per day in the over-the-counter (OTC) foreign exchange and interest rate derivatives market.

Forex trading has grown some 2000% over the last three decades, rising from barely $1 billion per day in 1974 to an estimated $2 trillion by 2005. Markets never close so there is no build-up or backlog of client overnight orders or pent-up reaction to news stories hitting the market at the open. This means that there are no gaps to create instant losses (or gains) for those holding overnight.

The Trend is Indeed Your Friend
There are two basic types of markets: trending and trading-range markets. It is far easier to make money in the trending markets. Currencies tend to experience longer-lasting trends than other markets, and can last for months or even years. This makes them ideal vehicles for trend-trading and breakout systems. This explains why chart pattern analysis works so well in Forex trading. With such widespread groups playing the game around the world, crowd behaviour plays a large part in currency moves, and it is this crowd behaviour that is the foundation for the myriad of technical analysis tools and techniques.

Lower Volatility in FOREX Trading
Due in part to its size, Forex is less volatile than other markets. Lower volatility equals lower risk. For example, the S&P 500 Index trading range is between 4% and 5% daily, while the daily volatility range in the Euro is around 1%.

The Intermarket Advantage
One example is the "Intermarket" method of market analysis developed many years ago by respected industry professional Louis B. Mendelsohn. Trading veterans know that markets are interdependent, with some markets more heavily influenced by certain markets than others. Mendelsohn's VantagePoint analytical software detects hidden, yet repeating patterns that occur between related markets.

Figure 2 – Shows other markets that drive and influence the Euro/USD.

The challenge from a trader’s perspective is how to take these often-complex relationships and integrate them into a workable trading strategy. For the purposes of this article, VantagePoint Intermarket Analysis Software charts developed by Market Technologies (www.tradertech.com) were employed. It uses a combination of neural network indicators to incorporate intermarket forces analysis into the software. Indicators provide forecasts of a potential change in market direction in advance, thanks to an ability to analyze a complex array of intermarket forces acting on the issue under study.

Figure 3 – Shows VantagePoint Intermarket Analysis software forecasting trends in the AUD/JPY market with nearly 80% accuracy. Source: VantagePoint Intermarket Analysis Software – www.VP4x.com

Don't Forget Market Fundamentals
Like their commodity and stock counterparts, successful Forex traders also can’t forget about the fundamentals of the market. Here are some reports worth discussing.

1) Interest rate announcements by central banks. Language in meeting minutes published following announcements or rate change decisions. E.g. Federal Open Market Committee (FOMC) Minutes.

2) Government debt and deficit figures that show changes for the better, or worse. Increasing deficits, for example, often portend an increase in interest rates as the government competes with the private sector for investment capital. The difference between stocks and Forex is that increasing rates are usually good news for a currency.

3) Quarterly GDP reports. Preliminary national GDP announcements also have the potential to affect market sentiment.

4) Economic or geopolitical events such as elections, conflicts and political uprising etc. Anything that investors or traders think may destabilize or impact the market.

5) Reports such as the Institute of Supply Management in the US and Purchasing Management Index in Europe tend to be closely watched by traders.

6) Industrial production figures, jobs (non-farm payrolls in the U.S.) and employment figures can impact markets including currencies since they could have a direct bearing on national interest rate and economic policy.

7) Yen traders closely follow Japanese reports such as the Tankan quarterly survey for insights into currency movement.

8) Market sentiment published by market commentators and news services. It is often a good idea to buy on rumour, sell on news.

Forex is the ideal market for the experienced trader who has paid his or her "trading tuition" in other markets. Forex is by far the largest market in dollar volume, is less volatile, experiences longer, more accentuated price trends and does not have trading commissions.

However, there are no free lunches. Traders must use all the trading tools at their disposal. The better these fundamental and technical tools, the greater their chance for trading success. While intermarket and other relationships are often complex and difficult to apply effectively, with a little high-tech help, traders and investors can enjoy the benefits of using them without having to scrap their existing trading methods.

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So, once the bank confirms your payment, i shall send the ebook or the hard copy to the stated address, if there is going to be any delay, i shall let you know.

Now some marketers will give you alot of freebies to "attract" and "lure" you to buy there product, not me! I dont give out freebies because i want to lure some one per say to buy my product, i do waht the name says...FREEBIES are FREEBIES...no more no less..so trust me, i would add invaluable freebies to this you would rush back to this blog to post your thank you's every day!

Let me not talk too much, a word is enough for the wise..for doubters, please stay away! This is real business, not for freaky hearts but for strong and enterprising minds....

just see what people i have not even met are saying about this....

"a brand new subject for me and probably many others too: Trading E-Currency for Dollars. But now I know where to come for ALL the info because this blogger knows and tells EVERYTHING about it. Very thorough and useful site...Obviously the product of a good, clear thinker and writer.. " http://freewebmall.bettr.com

"Wow! There's lots of info there. You are one smart cookie...the info is needed. Thanks. Nice Job!. " http://ourbooksandstuff.blogspot.com

So, are you still here? go at once and pay for your E-CURRENCY XPLOSION MANUAL now...this is a limited offer...trust me, i WILL increase this price VERY SOON!

Let's Meet at the Top!