Day Forex

Dirk DuTiot and Day Forex is the mentor and forex education organization I have now become

involved with.

At the time I was busy gambling on major economic releases, I could see the system was not

working, it was nothing more than a straight gamble and I would never be happy to base my

career on something like that, besides the results were extremely dubious.

I then, for the umpteenth time, did what every down trodden aspiring forex trader does when he

sees his once brilliant system is not working and that was to purchase another e-book.

This time though what was said on the pitch page of the web site selling the book was different to

the pitch pages of the previous systems and buy / sell alert providers I had used in the past.

What is more the book was a fair price unlike the $100s, sometimes $1000s many of the crooks

charge for their services. It is not my intention here to tell you exactly what was said in his book.

Like I say the book is an extremely fair price and is worth every penny, so you should go buy it for

yourself.

The book was everything that I was lacking and could have been written for me. The book started

by talking about needing to listen to the market to understand what is going on now and anticipate

the future, I hoped it would tell me more about what fundamentally moves the forex market, but

was doubtful it could stand me any where near the same levels as the people speaking on cnbc.

It pointed out that you need to stand back and look at the market from a time frame consistent

with the timings and price levels relating to fundamental economic releases and rumors; you can

then anticipate price movement based on current price ranges and future events. At the time of

reading I felt I had no chance at this, if I was to try this I would be in the realm of the rooms of

analysts employed by investment banks.

The book soon made it quiet clear that the investment banks’ analysts were not performing black

magic, constantly saying things I never understood, like “at this stage in the cycle”. After reading

the book I was amazed at just how simple the whole “economic cycle” is and I was really happy to

have read all about the history of money and the banking system. It really hit home just how much

power a government / central bank has, to understand each of the participants and their power in

the market and most importantly to understand what the large scale participants are moved by. I

could hardly believe it was as simple as interest rates, economic cycles, (soap operas was a

good analogy); and to understand how the market is so amazingly efficient, (in theory).

The book said it is important to have a good mental picture of the market and the way it explained

the whole decentralization of the market, the over the counter instruments and how there is never

a globally exact price for a particular pair at a particular moment, did make me feel slightly unnerved

about who I will be dealing with, but also helped me make deeper connections between

what I see on the internet and what is physically going on.

After it had spoken about the correct time frames to use and the reasons behind this, (external

and personnel), it went on to speak about low gearing, probability and volatility over time. All of

this made a lot of sense, but I knew from my days of programming buy and sell signals into forex

trading platforms that unless you have an idea of where the fundamentals are sending the

currency no system based solely on math ever works in the long run. The fact all the technical

references in the book centered on fundamental market conditions meant I felt good about it.

The book was excellent in explaining the fundamental workings of the market and how to think

like the big players. I now have such a better understanding of how and why the foreign exchange

rates move; knowing the motivations of the big players and understanding how fear drives prices;

this combined with simple support and resistance over a suitable period of time. If people aren’t

fearful enough that the rate will move in a particular direction then it will stay where it is.

37

4x1, median trading are great in themselves but what I like most about the proposed methods is

they all rest on your discretion based on fundamental conditions and price ranges; discretion

being the key.

My main question during the reading of this book was………..well what’s the worst that can

happen? Things go against you and you have to get out. This was answered quiet well by both

bird watching, the old docs and an email response to some questions I received from the author.

Either fundamental conditions change such that the reasons for entering are no longer valid or

you were unhappy with your current draw down. Again discretion based on fundamental and

simple technical factors and personnel circumstance, to me being more appealing than indicator

1 crosses indicator 2. I also understand the need to quantify down side both through fundamental

economics and trading account draw down.

Before reading this book I did not have the knowledge required to be able to read, understand or

anticipate forex market sentiment. Reading this material has given me a much better

understanding of what money and foreign exchange is all about.

The author of this book Dirk DuTiot also offers a mentoring service, again for a reasonable price, I

guess that in itself is a sign of honesty. As said early if some one wants $1000 a month to mentor

do not take them up on it, they are probably crooks, they will mentor you for a couple of months,

you’ll be unhappy with their service, you’ll part company with them and several $1000 of your own

money.

I have been a student of Dirk’s for several months now and have recently seen consistent profits,

but more than the actual profits has been the understanding of the forex market I have gained as

a result of meeting him. It is like I know exactly what the world is thinking moment by moment. Do

not get me wrong it is Dirk here who is making the calls and doing the analysis, I am still just

learning from him, but it is nothing short of amazing to see what he says actually happening,

(saying that I will probably get used to it after a couple of years of seeing it happen).

Before I knew Dirk trading was numbers and text on a screen, now it is 100s of big investment

banks, hedge funds, and multinational corporations, high net worth investors reacting to changing

economic conditions as signaled by the news and reserve bank speakers. I can see the whole

world at work, and I understand the back ground behind what they are doing.

“Knowledge is Power” is somewhat of a cliché, but I can tell you knowledge is certainly an eye

opener.