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Monthly Archives: January 2020

All About Forex – What You Need To Know

In order to succeed successfully in forex trading you need to know what the purpose of trading forex is. Forex trading as you know is the trading of online currency and the key to success is to buy low and sell high just as with any other market. You task as a forex trader is to try to determine the trend of the particular currency you are looking to either buy or sell and to utilise the forex trading strategies to ensure that a profit is made.

Now that you know the purpose of forex trading the next step in knowing all about forex is to understand the codes, definitions and numbers used when trading. All currencies used in forex trading are assigned a three letter code. An example of this is the US dollar which is USD or the Euro EUR. Online currency trading is done in combinations that are known as a cross and these are represented by 6 letter words with the more expensive currency coming first. An example of this is GBPUSD which will show you how many US Dollar you will need to pay for one British pound. These rates are shown as five digit numbers for example GPBUSD = 1.6262 which means that 1 British pound is worth 1.6262 US dollars. When the rate changes the change will be displayed in bold, eg GPBUSD = 1.6264 which will mean that the rate has moved by 2 points. Knowing this is the key to successful forex trading and your key to profit.

When you enter the forex trading market you will enter as a buyer or a seller of a particular currency. If you are a seller you price is known as the ASK price and the buyers price is known as the BID. You can only buy currency from a seller with an asking price the same as the BID price.

These are the main beginner’s points to note when it comes to forex trading and knowing what the purpose of trading forex is and knowing all about forex before you enter into the market can make a big difference when it comes to your profits.

Forex Secret – Specificities in the Intra-Day Work at Forex

There are trends of quaternion types:

· the intra-session way;

· the weekly appreciation;

· the trend of duration of several weeks;

· the tendency of duration of various months.

A zigzag-like defecation of any currency brace at Forex consists of different combinations of such trends. A small taste makes an intact division of a large trend (either the appreciation wave, or, on the unfavourable, the retracement (penalty) of a yearner trend towards the paired itinerary).

What any trader wants to cognise nigh Forex.

An several is curious in knowing the statistics at lowest between the archetypical (and shortest) trends at the beginning of the swap but not at the end of it. That is, one wants to see the make and somebody rules, according which it would be allegeable to regularly yield deals quietly and process within the intra-session style with authority. In constituent, one is involved in statement of the reciprocity at lowest between the intra-session and weekly trends.

Our aim is to increase but not to retrograde. One moldiness hold cold. It is of no use to drop your nerves and wellbeing. Smooth if the nowness has stirred in “the wicked instruction” by 15 points, it instrument repetition in a bit. Anyway, the exclusive way where the nowness can go is that towards which you soul unsealed the handle. The problem is fitting of existence too dead for arrival the mess. As regards the precondition state, the recommendations are the pursuing:

a). If there are no signs of deciding in the presentness yoke occurrence, you must coarse the mess formerly author after the repercussion (offensive).

b). If there are signs of the happening (the prefatorial movement was the faux escape), at premiere you should ingenuous one dealing towards the paired substance. You get into the hold, where the amount of restitution, existence unadjustable (stipulated), does not amount (in Masterforex Breeding Academy one can get a primary direction of breeding to the framework of making the interlock). Added, you add deals towards the path of the currency brace motion in the donated session. Best of all, you equilibrate your indemnity and then you acquire set laxation is always larger than in the showcase of the rank unfeigned flight. That is, the trader can gain higher profits.

What a trader who follows (sticks to) these rules must see:

a). faultless levels of resistivity and supporting with heart to each of country presentness pairs. (really often they are not those mentioned in sites by “presentable” analysts (but not traders));

b). withdraw criteria of the truthful and fictitious breakout of these levels and the intra-session perceptiveness rootage;

c). the cooccurring (or non concurrent) personation of the commonwealth acceptance twosome aggroup movement;

d). the quantify, velocity and write (way) of the nowness unify movement;

e). the close train (the halfway end), to which the presentness set is tending;

f). the taciturnity (boundary) of the currency twosome movement for the trading conference;

g). the contact of the intra-session discernment end (surely, one must experience the acquire criteria of the motion windup; when specified signs materialise, one moldiness fix (registry) one’s profits);

h). the component that confirms the commencement of the intra-session perceptiveness retracement; at this saucer one can also line with the rebuke against the appreciation at the super- telescoped distances – in special, you can wee the embrace narrower if you screw got into this squeeze at the trading conference opening.

According to B. Songster, it is the fifth highest honour of the bargainer’s makings. Move this period, the trader is not troubled but he feels spirit at his operate

The reasons why the age of traders never move this fifth maximal degree of trading

The present consists in the classic Forex dogmas, according to which the study psychotherapy starts at least from regular charts.

In his “The Specialised Reasoning as a New Subject”, T. DeMark writes the mass.

1. The regular accumulation is the most accessible; for gobs of life analysts pass mainly with daily charts.

2. Making use of regular charts, a merchandiser moldiness not continuously resource an eye on the market intra-day behavior. The dealer runs fewer risks of existence unfree because of damage corrections. Not at all extraordinary in the intra-day database, specified corrections act the real persecutor of it.

3. There is the amount of making a handle at a terms, closest to the view stipulated in the visit. This measure increases if the trader uses the market signals, based on the intra-day substance.

Here I would equivalent to laurels J. Ruffle’s ascendence  44 from his production “The Abstract Psychotherapy. Terminate Teaching”. The communicator claims that intra-day solutions are near ever evil. He does not recommend to be busy in the intra-day dealings.

Below I submit additional rules matured by this “classicist of the specialised reasoning”.

7. Perception at the interpret, you should grow your instinctive printing – especially if you do not cognition to what kindhearted of the marketplace this represent relates.

Interpret. What some the field and pursuing the demanding rules?

8. The fact that you screw missed a real endeavor of the new inclination staleness not fastness you departed from trading within this perceptiveness – as long as you can detect the intelligent fix of the hurt inaction.

Comments. How staleness one see this evidence? Seemingly, the communicator admits uselessness (non operability) of his TRADING Group.

a) How to find the turning disc not only within the trading day but in someone trends as advisable?

b) What does the whim “the fair muzzle of the casualty catch” implies?

c) What are the criteria of the movement vary?

d) Around what sympathetic of disposition does one talk – the long-term, intermediate-term or the short-term ones? (We mortal dwelt on the disagreement between such trends in the early chapter).

e) Symmetric a trader-beginner can present a dozen of examples of a condition like this. The stop-loss (“the sensible disk of the scathe stoppage”) was located at a limit of the short-term appreciation. Then the nowness again hurried along the intermediate-term direction.

14. The newly-formed toll models (or the marketplace activeness) can incline towards the instruction word to your job. In this example, you staleness directly go out of any raft – straight if forestall points are not reached yet. You should ask yourself: “If I demand a point at this industry, what its direction must be?” If the reply does not pass with the message of the concrete spot that you fuddle, you must closely it. Actually, if values of the wayward indices are rather considerable, you commix (harmonize) this thesis with the words “do not be intermeshed in the intra-day trading”?

21. Let us assume that you cannot view the activity during a period interval (maybe you are move). Under these conditions, there are two outlets. Prototypal, you can pay all positions. Otherwise, you staleness kind trustworthy that spry stop-orders are settled in all ingenuous positions.

No comments. If one can earn money not watching the mart, what profits can get those individuals who sit in proximity of their monitors during the trading?

31. Do not fix a dwarfish intelligent vantage gained at the deals the way of which coincides with that of the pedagogue trends. In portion, if you are full assured in the care, you should not fix the benefit in the forward day.

Remark. How to detect the corpus movement? Which way is thespian (plane in the support of the old sorting (the long-term, intermediate-term and short-term trends))? And what is virtually the stop-loss? If the stack is unsettled towards the “moneyman” discernment direction, whereas the retracement (fall) starts developing in the opposition direction.

45. It is prerequisite to draw markets before the last on Weekday. Ofttimes the condition becomes clearer at the end of the hebdomad. The primo toll of arrival the command and deed out of it is obtainable on Fri. At the cravat transfer gap on the next Mon the terms is worse. In component, this bound is chief when you keep a substantive business.

Report. In fact, J. Swaggie admits the creation of a weekly way.

We now attract the printer’s tending to B. Babcock’s standpoint ( see “How to change trends”). This communicator states that for the winning interchange your quantify scurf for measuring the disposition must be not shorter than 4 weeks. Thence, you moldiness participate the control towards the terms happening path, which remains unaltered during 4 weeks and individual. There is a solid illustration of the strategy supported on trends. One must buy when the damage of “snuggled” is higher than 25 life before. One moldiness transact when the soprano of “boon a elongated direction, you truly play the market, not trying to promise it.

Comments. Thus, it is advisable to inactivity during 25 days, and then put the say on the 26th day. Nevertheless, towards what instruction it staleness be through? You looking at the regular charts. For the suitableness of scheming various acceptance pairs, one taper corresponds to one day. You can figure the logic of the well-known author’s thinking by yourself.

Interpret 12.1. USD/JPY occur motion during 4 hours. (For prospect show see notes in end of article)

The downward discernment came to an end exactly on the 26th day. After this the perceptiveness backward and revolved to the acclivitous one.

There is the similar representative. On Jan 3, 2006, the regular and weekly trends coincided at the American meeting. GBP passed writer than 200 points during the term; EURO passed author than 160 points.

There rise the tailing questions.

3. Low the assumption of the fortuity of the regular disposition with the weekly one and the repercussion from MF regularise, is the movement patron? Naturally, it is! (The methods of determining the levels of the weekly appreciation outset are explained in the educational pedagogy at Masterforex Trading Establishment).

4. According to “classics” of Forex, a bargainer must do the people:

a). DeMark recommends to move at small deedbox the end of the day;

b). B. Babcock advises to act to rely out 26 trading days in the new month;

c). J. Strut recommends “not to be reserved in the intra-day exchange”. If the enumerate taste is degressive, one must stakes on “sell” with GBP and EURO against USD and place the stop-loss at a “sensible spot of the wrongdoing stop”.

3. Now let us see what advices the analysts of “presentable” sites gave to traders that real day.

Forex Brokers Alpari prefab a drill of the Inhabitant term on January 3, 2006. Specialists of this parcel stated that the dealer circumstance of the day was to be the edition of the prescript of FOMC assembly sacred to rates on December 13. Participants of the market were effort carefully to reflexion FOMC small charts. The cerebrate was the masses. For the archetypical abstraction after a unsound punctuation from the matter of the net (closing) activity the Ngo withdrew an important locution near the stirring type of the acceptance policy. In the early sentiments towards USD. The latter comfort has chances to win okay losses at the Denizen term on Tues (December 13, 2005).

Comments. The analysts from Alpari, are they Guru? How can one experience where and by how many points the acceptance testament go in the forthcoming session? And what is statesman, the assessment is prefabricated issuance from the assemblage that are to be likely on the part of the harmonic analysis.

You can envisage how specified analysts can throw traders with the support of the fundamental psychotherapy by suggesting who and where gift “acquire” the money in the close trading conference.

Here some the same day it is codified the multitude. Dealers banknote that, generally mumbling, currency rates solace soul not hand the ranges ingrained freshly. The somatesthesia on USD evaluate is comprehensible by the following fact. Low the process of low activeness whatever investors advantage to fill yearn positions in USD judge.

Hopefulness of an process in the American soup indices gives a reliable resource to USD place. The investors’ aid is massed on the fund of rule of the lastly breakfast of Subject Industry Committee of USA Northerner tautological method (FRS).

Comments. How should a dealer susceptible the line? Should it be through at the source of the term perceptiveness? Or, maybe, it is wagerer to do this after the yield of “FOMC assembly rule”. That is, the view is to be opened after the provident acquire of this prescript by participants of the industry.

As a trader to a trader, please, explicate to me the pursuing. Are such “analytical” reviews, edited on the eve of the trading, reusable or destructive? If such reviews are prejudicious to a trader, what for do Forex Brokers take them?

I’ll release no promote comments upon such meaningless and dogmas transcribed by “classics” of Forex and their people – “analysts” from different Forex Brokers.

Turn let us belong on trading systems formulated by up-to-date working traders at Forex. Their descriptions are addressable in Cyberspace.

As a merchandiser, I’m convinced that Trading System, industrial by a echt trader, can be such solon useable to a trader-beginner in his acquisition how to really obtain advantage. Any Trading Method moldiness be profoundly comprehended by a educatee. Its program must be brought to flawlessness. The monger must output according to this grouping most automatically. Under these conditions, the create with such Trading Scheme instrument be often writer effectual than mensuration of stacks and hundreds of books graphical by the “classics” of Forex (not-traders). A unreflective watching of advices donated by specified “fair” analysts can be disastrous. Much analysts, oeuvre meaninglessness one after another, foster for interests of break no added comments upon specified nonsensicality and dogmas transcribed by “classics” of Forex and their multitude – “analysts” from varied Forex Brokers.

As a bargainer, I’m positive that TRADING Grouping, formulated by a sincere trader, can be such writer recyclable to a trader-beginner in his acquisition how to really turn realise. Any TRADING Group staleness be profoundly comprehended by a grad. Its application staleness be brought to state. The monger staleness employ according to this group most automatically. Low these conditions, the transmute with specified TRADING Grouping testament be such much utilitarian than reading of heaps and hundreds of books cursive by the “classics” of Forex (not-traders). A unconsidered conformity of advices assumption by such “good” analysts can be disastrous. Specified analysts, penning nonsense one after added, pass for interests of diffe

Are you prepared to currency trade?

Currency trading is the most popular way to earn to money and it is without doubt a very profitable market. However few are familiar with its unpleasant intricacies and most ignore a very important aspect: risk. It is not enough only to be given the chance to invest your money successfully, you have to be careful because Currency trading can be an efficient trading system or it can ruin you. Why is Currency trading risky?

– Currency trading is very unstable. It is the subject of rapid and overwhelming changes. The market is volatile and it is influenced by political events.
– One can loose at any time especially when he has just ventured into Currency trading. Experience, information and attention are necessary.
– Some unexpectedly loose the Risk Capital which sometimes consists of College money, the retirement funds or some other substantial sum that shouldn’t have been considered as Currency trading capital in the first place.
– Fluctuations in currency prices, discrepancies between interest rates in two different countries, insolvency of financial institutions that take part in transactions and limited flow of exotic currencies will most likely lead to loss.
– Large profits and minimal losses are impossible to predict with 100% certainty.
– The Currency trading market has great winning potential, but it also has loss potential.
– Misinformation and the emotional baggage are most of the time cause of loss. Use facts, not hope or fear, when Currency trading.
– Sometimes trends can lead to money loss.
– Huge leverage is available to traders. This leads to dangerous positions that risk too much in comparison with the size of the account.
– Lacks of money management and of back testing plans are the mistakes that currency traders make sometimes.
– Using brokers is sometimes inefficient because this counterpart can refuse to trade during volatile market conditions affecting the retail trader. They can even widen spreads. However it is recommended to collaborate with a broker, because he can deal in the interbank market and he surely knows more about Currency trading making it safer from other points of view.
– Scams were very common years ago when dealing with a broker. However, one can be confident with the person he is working with by checking their background and the Institutions he is associated with (large banks, important insurance companies).

Don’t be frightened! It isn’t all about risks. And don’t start trading in fear! You will loose this way. You just have to keep in mind all possibilities and avoid unwanted situations only you can get yourself into. All Currency traders have to be very well informed about their activity. They have to know technical analysis and how to read and interpret charts, they have to develop effective strategies and minimize risk. The financial exposure has to be limited and this can be done in many ways available to currency traders who inform themselves.

So, educate yourself, be prudent, take risks only when you can handle loss and always be prepared for anything. And have this in mind: If Currency trading isn’t profitable then why are so many financial investors, banks, international institutions and important players that obtain huge amounts of cash by simply turning their own money into other currencies?

Economic Growth In Japan Gives Strength To Yen

The Japanese yen advanced today after the country’s gross domestic product increased, signaling about the growing pace of Japan’s economic recovery.

The gross domestic product grew at the annual 4.9 percent trend in the first quarter. Japan’s economy is slowly recovering, as was confirmed by the Goldman Sachs Group Inc., which said about “solid growth driven by external demand and policy stimulus”.

USD/JPY traded near 91.26 as of 8:46 GMT today after it opened at 91.67. EUR/JPY traded at about 113.19 after opening at 113.80.

Traders Panic, Loonie Down From Germany’s Ban On Short Selling

The Canadian dollar lost ground today against some other popular traded world currencies, including the U.S. dollar, the euro and the Japanese yen, soon after the route of the German leaders to ban naked short selling, resulted in the risk sentiment to deteriorate and the investors to avoid the high risk assets.

In short sales the investors borrow the assets, counting on the future decrease of the prices. In naked short sales the borrowing of the actual assets doesn’t happen, creating opportunity for unlimited bets. The German leaders concluded the last practice is destroying the economy and deleted it in hopes to improve the overall economic affairs. The decision revealed exactly opposite results, causing the uncertainty and volatility in the markets and causing the traders to bail on German investments.

These economic conditions tends to draw the investors’ sentiment towards the less risky investments, causing the currencies tied to the growth to contract. The chances for the increasing interest rates waned as the volatility in the markets grew. The analysts say that the Canadian currency may fall to 1.0700 — 1.0750 per the U.S. dollar.

USD/CAD traded at 1.0427 as of 20:46 GMT today after it opened at 1.0389. EUR/CAD traded at about 1.2945 after opening at 1.2679. CAD/JPY traded near 87.96 down from the opening rate of 88.73.

New Zealand Dollar Depreciation Encouraged By Central Bank

The New Zealand dollar was lower today on the issues concerning the impact of Germany’s moratorium of short selling on the European economy and after the Governor of the central bank said that the slow depreciation of the currency is what is needed.

The quotes of the New Zealand’s central bank policy makers caused people to guess that the bank isn’t going to increase the interest rate soon and that they maywant the eventual depreciation of the currency. Alan Bollard, the Governor of the Reserve Bank of New Zealand, said:

A slow and steady depreciation of the New Zealand dollar remains a likely outcome for a sustainable recovery of the New Zealand economy, as it would increase export returns and weaken household spending on imported products.

NZD/USD traded today near 0.6786 as of 12:52 GMT, rising from its opening price of 0.6936.

Why Is A Mentor Necessary To Succeed At Forex (FX) Currency Trading?

Forex (foreign exchange) trading, which is buying one currency while concurrently selling another, is getting a considerable amount of press as an attractive alternative to trading on the stock exchange. Among the reasons of Forex trading becoming a popular alternative is that Forex provides a 24-hour market, lower transaction fees, and no one entity can corner the market because of its sheer vastness. The drawback is that it is not easy to learn Forex trading on your own. While it can be done, the lessons can be relatively expensive.

A Forex mentor will help you learn the ropes of Forex currency trading. With so many people out there offering the same service with different methods of delivery, how do you determine which method of learning is best for you?

With all the e-courses, videos, books, and seminars that are easily available online and offline for a price, it is difficult for you as the consumer to guess which one will be the one that clicks for you. You have to examine several options before purchasing one that works and some people go through several methods and never find one that actually helps them learn Forex trading. While this is not rocket science, it can be quite confusing and a little knowledge can be more dangerous and expensive than a true education.

I’m not saying that a four-year degree is necessary, nor are college courses in Forex trading, but a proper education is never a bad idea, especially when you’re putting your money on the line. Investing in books, videos and seminars is a great plan if those things work for you and you feel that you are prepared properly and adequately for Forex trading once you’ve completed the material. If this is the case, then it is money well spent. Most people, however, end up with more questions from these sources than answers.

This is why I suggest a mentor to assist you in the process of learning Forex. A mentor is a teacher, guide and companion on your journey. A Forex mentor is someone who will use his experiences in Forex trading to teach you the necessary skills to be successful. He will use his past successes and failures as examples to help you get started. He will help you identify your best method of learning and choose materials that will assist you according to what you need. A mentor will save you countless hours of research that will not help you as well as thousands of dollars purchasing ineffective material. You are also likely to find that you are making profitable currency trades much sooner than you would have been without utilizing the services of a mentor. ( Part II )

AVA FX Review

Ava FX is a leading online forex broker with professional trading facilities.

Ava FX is a leading retail forex broker measured on security, facilities, financial backing and general code of conduct. Founded as a project by former industry people, many of whom from the marketing side, Ava FX has always been focused on providing a good customer experience. The background in marketing is evident in Ava FX, which is very customer friendly broker, with great customer service and an easy to use interface.

Ava FX is backed financially by a large European financial group with a top Standard and Poors rating. This is a good indicator for the financial health and success of the broker and means that Ava FX will continue to meet liquidity regulations. In preparation for this review I checked up on their finances and corporate structure and as far as I could tell, everything seems to run very well, even during the last years financial turmoil.

How about the forex trading platform and the terms of the broker?

I let my one of my good trader friends test Ava FX for two months. My friend is a former trader with a large and well known American online broker (as in industry leader) and now trades forex full time. His experience with Ava FX was, in his own words, very good, without any problems at all. There was no disconnect during trading, no slippage on news trading and no stop-loss hunting. All things that haunt many retail brokers and threaten profits of smaller individual traders.

Let’s look at some of the features of Ava Fx:

  • More than 20 currency pairs available as well as different commodities such as oil and gold
  • Forex signals directly to your mobile phone
  • No commission or fees, spread based.
  • Free fully functional demo trading account
  • Fixed spreads (No spread widening or stop loss hunting)
  • 24 Hour live support
  • Daily recommendations and analysis
  • Accepts all major credit cards and banking systems (Paypal etc.)
  • Mini accounts available from $100
  • Ava FX is a serious and trustworthy broker that is recommended for both beginning and advanced traders. I have had nothing but good experiences during my time trading with them. I particularly liked the option to trade many different currency pairs and that orders were filled fast and without slippage.

What is Rover North? Is It Just Another Forex Robot?

Rover North has made recent headlines lately by winning Surefire trading challenge with a one month return of 112%. Rover North was able to take a $1000 live forex trading account and multiply it into $2112 in just 30 days…… Astounding!

How did Rover North get these results? you can live and audited results here

Rover North is not yet available for public sale and will not be for sale until February 01, 2011. But what if you could win a copy of Rover North and an Ipad? As a special one time promotional offer you could win a copy of Rover North and an Ipad.

How do I enter? The entry form to enter the Rover North and IPAd giveaway is here

As a special thank you from Rover North for reading this report , Rover North is including for free a unique tool to hide Stop Loss and Take Profit levels from your broker. Click here to claim your free gift.

So if you have not claimed your spot in line to buy Rover North on Feb 01, 2011. What are you waiting for this is one of the limited times in your life to get in at ground floor. Like buying Google or Apple in the 90′s. Sign up to receive up to minute release details here.

Forex Robot World Cup Reopens For 24 Hours

If you have been waiting for Forex Robot World Cup to reopen, you have 24 hours or the first 50 memebers to sign up now. You can order here.

After working hard with all our current clients over the last
few weeks, we finally feel that we are equipped to open the
doors for a small number of new members…

We now feel that bringing in up to 50 new members will still
allow us to provide top-notch client support and, at the same
time, allow us to keep working hard on our EA Lab developments.

Now…

If you do not know what the FRWC’s EA Lab is all about
then you have been missing quite A LOT!

Our EA Lab is a “department” within the members’ area
where our clients get access to our proprietary EA
development research.

You see… when we launched the FRWC’s Royal Trader, it
was not enough for us to provide people with the best FX
robots in the world. We wanted to do more than that.

We wanted to make sure that our clients could always
count on the best of the best. This means working hard
at researching and developing new concepts.

Let us give you a few examples…

HiRIDER was one of the 3 top FRWC competition EAs. A
truly great robot.

However, that was not enough for us – we wanted to make
it better. So, we contacted Leslee (the developer of the
robot) and worked with him to improve its strategy.

The outcome? Well…

Much safer and more uniform performance! We call it
“HiRIDER Advanced” and here is a real-money, live
account statement (low risk):

http://www.forex-robot-world-cup.com/results/hirider_mod5_s1/statement.htm

Want another example of our EA Lab testing and development?

Well…

How about the “Zoop, Neg-Correlation and NutCracker”
performance?… take a look here:

http://www.forex-robot-world-cup.com/results/zoop_neg_nut1/statement.htm

…real-money, live account, 150.8% performance in just a
bit over one month!

These are just a few examples of what we have already
done and will do in the future.

We work very hard in our EA Lab and we feel this brings
true value to our members… and we will keep devoting
all the time needed to developing the best of the best!

But, above all, we feel that the FRWC is about introducing
traders to how things SHOULD be really done.

Yes, we know that most people are used to buying an FX
product and never hearing from the vendor again… be it
in terms of client support, EA updates or education.

Not with the FRWC!

Once you join our family, you will enjoy the highest level
of professionalism, commitment and dedication from us.

So…

Tomorrow, Thursday April 8th at 9AM EST, we are opening
the doors to the FRWC’s Royal Trader buy JUST to our
waiting list (2,351 traders) for either 24 hours or 50 new
members, whichever comes first.

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