FOREX.......by C. H. StClair

March 2, 2004--Trading in Foreign currency is no longer the exclusive domain of big Banks, or the likes of legendary George Soros. Today anyone can trade. The Internet has revolutionized this highly lucrative industry and made it possible for all to participate. Almost 2 trillion dollars is exchanged daily. Clearly the biggest business in the world. With instant liquidity, round the clock access, and up to 200 to 1 leverage on your money, there has never been a greater opportunity for the little guy to play on the big arena. With just $5,000 of your own money, you can 'control' up to one million dollars of foreign currency, and as the exchange rate rises, or falls, so will you win or lose on your 'investment'. The same is true if you trade with a 'mini' account, $50 will control up to $10,000 of currency. Exchange rate fluctuations are generally measured to the fourth decimal point, producing a profit or loss when the market moves even the smallest fraction of a cent.

So how hard can it be ? After all the rate can only go up...or down. Experts say that if you get it right just half the time, you should finish up a winner, by simply limiting your losses, and maximising your winning trades. According to an Industry spokesman, 90% of all new traders will lose their money because they are too impatient to study how the market works.

What drives rates up, or down ? Can these up and down moves be anticipated, and harnessed to generate solid profits ? Two Brisbane hopefuls believe that it can be done, consistently, with very little downside risk. Following two years of exhaustive analysis, 54-year-old Ron Whitford of Westlake and 65-year-old Keith Trudgeon of Pullenvale are ready to enter the arena, with their own unique and secret strategy. Whitford, former truck driver, engineer, and stock market investor, and Trudgeon, former accountant, antique dealer and auctioneer, have no doubts at all that they have uncovered the Holy Grail of investment strategies, planning to trade the currency markets 24 hours each day between them. Happily their weekends will be free as financial markets are closed most of Saturdays and Sundays. "We attacked this challenge with an almost unhealthy obsession, " says Trudgeon, "committing up to 18 hours a day to understanding what makes the market tick, sometimes even trading all through the night, and by George, we did it. " "We have been demo trading, successfully for what seems an eternity, and we are ready to move on to the next step, by seeking a financial backer or partner. We have the perfect strategy, the discipline and the skills, we are ready to enter the marketplace"

Maybe the NAB should be talking to these two highly motivated locals before they shut the door on all that lost lolly, still... what's a few hundred million to Australia's biggest bank ???. It does suggest that trading foreign currency is indeed a very big business, and from now on it is not only for the big end of town.




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