Courses Infomation
Scott Heywood – The FX Robot Method- Trading Forex for a Living
Scott Heywood – The FX Robot Method- Trading Forex for a Living
Archive : Scott Heywood – The FX Robot Method- Trading Forex for a Living
The FX Robot Method describes the foundation of Scott Heywood’s trading system, which has been covered on Rob Booker’s Trader Radio. Scott’s system is underpinned by his robot Plutus, which in turn is based on Rob Booker’s Finch robot. Scott runs the system and directs the robot based on strict criteria which contain his risk and deliver regular and consistent profits.
Originally based on questions from the audience of Rob Booker’s initial podcast interview, Scott set about documenting the history of his process, focussing on how ‘robots’, as they are known in the industry, support day-to-day forex trading.
For the beginner, the prospect of the robot and system complexities can be daunting. In the book, Scott (who was a complete novice to forex trading three years ago) unravels in plain english with minimal industry jargon, how he came to understand the markets and the underlying tenets allowing him to make money consistently. In fact he made profits so consistently, he completely replaced the income from his day job – leaving to trade forex full time for a living in May 2016.
What is forex?
Quite simply, it’s the global market that allows one to trade two currencies against each other.
If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.
Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.
An exchange rate is the relative price of two currencies from two different countries.
You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!
You’ve exchanged one currency for another.
Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Currency Exchange
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.
It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
Salepage : Scott Heywood – The FX Robot Method- Trading Forex for a Living
Reviews
There are no reviews yet.