Why Trade?
Investing for oneself can be a rewarding experience. It also can be easy. The iSigma forex newsletter presents trading information in such a way that novice or beginning traders can start to maintain their own profitable investment portfolio. After reading, understanding, and learning to follow simple steps even the neophyte trader will have enough information to trade the iSigma system for him or herself.
Prerequisites
Beginning to trade with the iSigma newsletter does require preparation. Many of the initial requirements are explained in the article What to Expect found in the archive along with other supplemental information on our website. For the sake of convenience these initial requirements are reprinted here in checklist form. Make sure each of these requirements are satisfied and crossed off before attempting to place a trade.
- Computer with Internet Connection -- You don't need a super fast connection, but you do need to be able to check your email and access your online broker.
- Email Account -- Few email services will fall short here, but it's important that your incoming email doesn't get delayed and is delivered promptly when it is sent.
- Broker - To place trades you'll need to have an account with a broker. This broker must be able to take your orders in the currency foreign exchange market. Please see the article Selecting a Broker for a full explanation.
- Time to Trade - For the first few days, trading the system may take some time until you get the hang of things. Within a week, you'll become proficient enough to manage your trades in about 15 minutes per day.
- Risk Capital -- You won't need a huge amount of cash to start. However you should not trade any money that you cannot afford to lose. This initial capital should be dedicated solely to your trading account.
- Discipline -- Learning the procedure to following the trading alerts is simple. The benefits come from sticking with the plan for the long haul.
- Required Reading - Completely read this document and any documents named previously. Also, if you are new to currencies read Understanding the Forex Marketplace.
- Special Considerations - Be aware of special considerations when entering into existing newsletter positions.
Initial Setup
To trade the foreign exchange newsletter, fulfill all requirements in the previous section, Prerequisites. After signing up with a foreign exchange online broker, deposit initial capital into a trading account and also download and familiarize yourself with their trading software. Ensure that the email address you have provided us is working properly.
Step One, order the forex newsletter:
Connect to the Internet. Navigate to the iSigma systems order page. Fill out the required billing info. Carefully read and then decide for yourself whether to agree and accept the terms of service. Check the box for the forex newsletter to begin receiving alerts by email. Review the data on screen and then submit your order. A confirmation by email will arrive shortly. If this first email doesn't arrive promptly, please contact the support team at iSigma. Your ability to receive emails is critical to success with the iSigma newsletter.
Step Two, the first newsletter:
The next time we release our newsletter, we'll send out a copy to the email address you provide. Now it's time to start using the newsletter to manage your account.
Step Three, trading iSigma:
The initial setup requires the completion of all the steps previously mentioned in this article. While connected to the Internet, log onto your foreign exchange broker. Open the trading software provided by the broker.
Use this trading platform to interface with the market, placing and updating trades. Next, open the most recent forex alert email. The forex newsletter is dated so determining the most recent is a matter of comparing date and timestamps. The forex newsletter is organized into two parts, New Activity and Portfolio Summary.
The New Activity portion of the email will list which trades to enter, which stop orders to place with your broker, and any adjustments needed on existing trades. Also, note the unit numbers listed. On the day an entry signal occurs, determine the position size to place a trade for by multiplying the unit number by the value of your account in US Dollars. This is the number of units you'll buy or sell, depending upon the alert. When a signal to adjust a stop occurs, use your broker's software platform to modify your stop so that it is the same as the stop listed in the newsletter. As you place your trades and adjustments, be careful to ensure that the information in your order placement platform matches what is printed in the newsletter. Portfolio maintenance becomes a matter of checking the alerts each day and updating or adding trades that appear under New Activity. The last section, Portfolio Summary, list the currently open positions. It is organized into a table with column headings pair, position, stop, entry, hard profit, soft profit, days, units.
Conclusion
After initial preparation even new traders can create their own portfolio. Maintenance becomes a simple task that is accomplished in a few minutes each day. The individual trader decides his or her level of involvement in understanding the iSigma system, but the results are the same for anyone who learns the simple skills of online trading.