Plummeting Pound means prize profits for independent FX traders

The steadily falling value of the British Pound alongside the rise of rival currencies represents an unprecedented opportunity for home FX traders to profit, expert Nick McDonald says...

Amidst the dramatic sell-offs and tumult of the credit crisis, the rise of the US Dollar and Euro shows no signs of slowing against the Pound, while the recent explosion in FX trading volumes shows investors are moving away from stocks and into currencies... with good reason.

The FX market (financial shorthand for "foreign exchange") trades 24 hours a day, making it easy for anyone to learn how it operates. It is the world's single most heavily traded market, with trillions in currency changing hands every day.

With stock market volatility at all-time highs and global indices in decline, traditional investors in stocks and shares are understandably panicking. But with steady falls in the value of the British Pound against the US Dollar of 25% and against the Japanese Yen of 35% since July, even amateur traders are using the slide to make tidy profits daily by playing the FX market from home.

The opportunities for an experienced and an amateur FX trader are the same, Nick says, with the only requirements to start being: a comprehensive understanding of the rules of the game, a PC and a live trading account.

Teaching these rules is Nick and his company Trade with Precision’s speciality, and the time to learn and profit from them is now, he says.

“There is more downside to come, with the reduction in value of the Pound showing no technical signs of stopping. Technical traders need movement first and foremost and there is plenty of that on sterling right now. The best kind of movement is when there is clear direction, which we are also blessed with on all major GBP crosses right now,” Nick explains.

Trade with Precision is holding a free introductory open evening at the Radisson Edwardian Vanderbilt Hotel at 68-86 Cromwell Road, London on Monday 24th November 2008 between 18:30-21:00, which will explain how to profit from the falling Pound, and from trading on the FX markets in general.

Seminars are lead by Nick as well as a team made up of his best students, who he has successfully steered towards profitability. Many have left their 9-5 day jobs to day trade from home full-time. Also in attendance is one of Europe’s leading peak performance trading coaches, Steve Ward.

Nick McDonald is the founder of Trade with Precision through which teaches & mentors people to trade for a living from home. He founded Trade with Precision (www.tradewithprecision.com) to teach people ‘real’ trading strategies, omitting irrelevant information which is not conducive to trading success. Nick and his staff teach a variety of scalping, intra-day and swing trading strategies using technical analysis on both FX and on Dow Jones futures.