For one to understand buy and sell signals in the forex market one must first understand the forex market and be able to read technical data as it is displayed in chart formation. There are many tools available to a forex trader to enable them to make a decision to buy or sell a particular currency pair. These tools range from simple support and resistance levels to more complex Fibonacci levels.
As I am sure you are aware the forex market just like any other market moves in waves but often in one particular direction known as a trend. It is the buy or sell signal that a trader is looking for to determine the direction of a trend that is all so important.
What is a buy and sell signal? To explain this concept I am going to use a simple trading strategy known as trading with support and resistance levels. You will find on a forex chart that there are certain levels that the currency pair will struggle to go past, in a buy situation these levels are called resistance and in a sell situation they are called support levels.
You will see a currency continuously come to either a support or resistance level then reverse away from it. An experienced trader will use these levels as buy and sell signals. If the support level was finally broken in a downward trend the trader would use this as a signal to buy, if a resistance level was finally broken a trader would use this as a buy signal.
This is just the most basic of buy and sell signals there are many more complex signals that are used in conjunction with each other but almost all traders will use support and resistance to determine at least one entry or exit scenario in their trading. over a webinar three times a day 5 days a week, all you have do is copy what he does and take the profits. Since Adam joined Colin he has had the money to invest in other projects and gone on to be a successful full time forex trader and internet marketer.
Before someone buys something they need to buy someone. What do I mean?
Simple, 'people buy people first'. So there are two questions. How can I meet more people and what am I going to say, do and be, when I meet them?
There are many ways of meet business people, such as networking, attending seminars etc. But the one I am going to concern myself with today is 'walk-ins'.
A 'walk-in' is the practice of simply waking in to a business and introducing yourself. Whilst this marketing strategy is not for every industry there are many industries which use it and also many who don't, but could.
So the question is, how should it be done? Like all things there is a right and a wrong way of doing something and like most marketing approaches it is easy to get wrong.
All too often I hear things like "advertising does not work" or "the internet is a waste of money" or "I have tried walk-ins but they don't work".
Einstein once said "madness was doing the same thing over and over again and expecting a different result". Anthony Robbins describes the formula of success as being. First, decide specifically what you want, then take massive action towards its achievement, then take notice to see if what you are doing is successful and if not change your approach until you find what works. He also says "there is a way of speeding up this process towards success and that it to model those already successful". In other words, find someone who is already successful and copy them, or ask their advice!
However, most of the businesses people I have started to work with tell me, I have tried X and it does not work. My comment is "always how can we do this differently to produce a better result for you?"
Here are my thoughts regarding the marketing approach of walk-ins.
1. This is a professional marketing approach, so make sure you regard it this way
2. Know what your objective is. Is it to leave your business card, or leaflet, arrange a meeting, or make a sale?
3. Do you have anything you can do for someone, or give to someone free of charge in order to introduce the law of reciprocation. In other words, if you can give someone something, there is a significantly increased chance that they will give you something back, even if it is only five minutes of their time
4. Make sure you look your best and appropriate for what you do, what you hope to achieve and who you are going to see
5. Get yourself into the right frame of mind. If you think you are going to fail, you are correct you are. They same is often true on the other side of the coin as well
6. Build rapport as quickly as possible. Rapport is 'the feeling of commonality'. In other words find something in common with the person you are in front of
7. Tell them who you are and what you want to do
8. Tell them you only need X minutes of their time
9. Make them laugh and have fun
10. Create and outstanding first impression, you only have one chance
11. Smile, its rule no one and break it at your peril
12. Make sure you are working in on the right people and only use this technique if you run the right type of business
13. Make sure that you have your business card, leaflets and brochure available
14. Know exactly and specifically what you are going to say and how you are going to say it and this if it is not working change your approach
15. Think carefully about your body language. This counts for over 55% of the effectiveness in the way we communicate with others when wishing to influence them
16. Make sure you tell them the benefits of speaking to you early on in the conversation.
- It is vitality important to purchase the proper location in a flea market. You want to be by the entrance if possible. I cannot stress this enough