Professional Forex Trading Course Lesson

professional forex trading course I'm
Adam Koo and in this course you're gonna
be learning the exact skills and
strategies of how to trade forex
consistently how to cheat consistent
profits and create another source of
income for yourself and I can tell you
that if you are committed to master
these skills and to apply and to
practice you're gonna be trading like a
professional in a short period of time
and you can create another source of
income for yourself - you know better
your lifestyle eventually use it to
replace your EHR so if you know nothing
about forex let's begin in lesson 1
which is the introduction to forex
trading so what is forex I'm sure you've
heard of it and on the news or to
friends and Mistie Forex is for an
exchange or FX right and the FX market
is one in which a nation's currency is
traded of that in another at a mutually
agreed rate the forex market is run
electronically within a network effect
so there's no exact you know stock
exchange right it's in a run via the
bank Network and it's 24 hours five days
a week
it's the largest market in the world so
if you compare the stock market the
total value of the stock market is about
500 billion dollars in comparison for
Forex is 3 trillion a day
it's the biggest market in the world and
the way I trade Forex is I treat it like
any other business right so in any
business how you make money you make
money by buying something and selling it
at a higher price ok for example if you
own a restaurant you're buying
ingredients at a lower price you're you
know buying people's time to cook the
meals and you're selling in a higher
price on the menu that's how you make
money or in business sometimes you can
sell your customer first and a higher
price and manufactory at a lower price
and deliver the goods right this that
was any business now it's no difference
in a forex trading business the only
difference is your buying and selling
not physical products you're buying
selling currencies ok and it's all the
best businesses you can get into for a
few reasons number one minimal
investment so if you start any other
business a restaurant a shop you know it
would sort of take a few hundred
thousand dollars just to get started
okay but enough you know this is a forex
trading can start as little as two
hundred US dollars which is a mini
trading account okay I can say that you
know most people start up a few thousand
but again you can events like two
hundred dollars next minimal time
commitment in any other business
especially if your startup forget about
going back to your family forget about
work-life balance you're working 15 to
16 hours a day you're doing everything
right but when you trade Forex even as a
beginner you don't need more than 3 to 6
hours a day to be really really
successful and to succeed in this
business next you don't have to worry
about overheads by any other business
there's no employees there's no office
rental to worry about there's no
inventory costs okay makes things
recession-proof you know the main thing
that kills people or kills businesses
are bad times recession people not
spending money right in the business of
forex trading there is no good at that
time right you know why because we make
money regardless of the direction of
currency pairs right then market buuza
currency goes up we go along on a 7
currency pair if the concept peg was
that we go short which is peaceful sell
so either way we're making money
regardless of the economic situation so
it is totally non correlated to the
stock market so you know someone was
early trading stocks like I am and
investing in stocks and you want to have
another avenue to generate income that's
not correlate that Forex is a perfect
business to get into
right in other words you can make money
in both these markets successfully next
to succeed you must be willing to work
hard and master the skill you know I
keep telling people that is trading easy
well it's like asking the same question
is business easy is our relationships
easy is maintaining good health easy of
course not because if any of these
things were easy everyone would be a
multi-millionaire would all a
billion-dollar company and would be you
know having a six-pack set of abs
it's not easy right it was easy nobody
in the world would work okay everyone a
stay at home and make money by pressing
a button on a computer screen is fun
easy right and good it's not easy
because it's this easy everyone will do
it and you know there's no money left
okay this is not easy
alright there's no free lunch in this
one gives you free money so the business
of forex trading is like any other
business like any other career in the
way that you need skills you need
knowledge right a lot of people they go
into trading without skills and
knowledge and that's akin to gambling
right so when they make money is based
on luck and it lose fancy space is
because of my bad luck and that's not
sustainable because you know anyone can
make money in the markets any way any
media and it's called luck but can you
keep that money can you do it
consistently now there is not about luck
that's about skill so that's the main
difference so you can understand that
yes the skill of forex trading it's like
any other skill that you learn in any
other profession whether you're lawyer
doctor or an engineer it takes time to
hone these skills but a good thing is
that in training it takes less time
relative to other professions by being a
medical doctor and doing surgery it
takes less time relatively but it still
takes time nonetheless and I can tell
you that from my experience even with
the best coach and the best training
you're probably taking at least six
months to 12 months to truly master
these skills if you work really hard ok
I know people have taken you know three
to four years to master this skill right
you know maybe they didn't spend as much
time every day or they kind of like you
know a half-hearted but you're truly
committed I can't is six months to one
year you can do this professionally with
what you can have in this course because
by taking this course you just cut short
your learning curve tremendously by more
than 90 percent okay I don't know how is
tell people that could you do this
yourself could you live Forex or self
though you know attending a course and
the answer is of course you could do it
yourself to trial and error
I can tell you that it's not gonna take
you a year or four years you probably
knew over ten years you know I have know
people who have been trading for more
than ten to twelve years and not making
any money consistently they make the
money they lose it back again because
they're going around in circles making
the same stupid mistakes so the purpose
of this course is to really help you to
catch it on learning curve so what if
invested in this cause I can tell you
you've just bought ten years of your
compress to a couple of hours if you
learn this course in a condensed fashion
all right so you gotta work hard you
gotta practice you're gonna have a skill
that's gonna guarantee you an income for
the rest of your life I can tell you
that you know I tell people nowadays
that you know we go to school we learn
skills like engineering and accountancy
and programming and these skills are
great but they can't guarantee us a job
in five to ten years because we can be
replaced by someone else with the same
skills someone eventually younger
cheaper and faster and when you work in
a company you know the more senior you
are the more you get promoted the more
expensive you are to be kept and
eventually you can get retrench career I
don't get a pay cut but when you master
the skill of trading whether it's a
forex trading learn stock trading is a
skill that can guarantee you an income
for the rest of your life all you need
is a laptop and internet connection the
skills that's it all right you're set
for life so I hope you're excited to
master the skill all right so the next
benefit of trading Forex is that it's a
24-hour mark it's just extremely
flexible you can do it anytime during
the day right and so you can build your
business from n you in the world and
whatever time zone and in fact you can
play plan your daily routine around with
a job so you can keep your day job and
trade Forex outside your working hours
no worries so this gives you and all of
you of when the different forex markets
are active and number of Forex is run
electronically via banks right so that's
most central exchange we will right so
different banks around the world kind of
get active at different possible day so
what you're looking at here is actually
which is Singapore local time okay so if
you're looking at New York time which is
Eastern stat a time would be like
savings it's come like the reverse so in
other words Singapore 1:00 a.m. would be
p.m. for Eastern Standard Time Eastern
Standard Time that would be New York
time okay and again 1:00 p.m.
Singapore time would be a.m. Eastern
Standard Time so just flip it around if
you are in the Eastern Standard time
zone okay all right
so what happens is I'm gonna talk in
terms of Singapore time so just flip it
around at 6:00 a.m. Singapore time the
Australians start trading all right
Australian market opens Sydney opens so
they start trading from 6:00 a.m. to
2:00 p.m. so that's when the Aussie
dollar Australian dollar starts getting
active because that's been a pause these
are training ok and at 8:00 a.m. you
find that Tokyo that Tokyo market opens
at Tokyo Bank start trading so that's
when the Japanese yen starts getting
active all the way from 8 a.m. to 4 p.m.
ok now so that's again when the Japanese
yen gets active um at 4 p.m. to
Singapore time which is again 4 a.m.
Eastern Standard Time the London market
opens so the euro the power right these
start getting active in training all the
way to chance midnight Singapore time
which is 12 p.m. Eastern Standard Time
and the US the New York to be exact
stats and again obviously 9 a.m. in your
time which is 9 p.m. Singapore time all
the way to 5 a.m. Singapore time that's
when the US market starts getting active
right and the US dollar starts getting
really active so most people who trade
the very liquid currency pairs like the
Euro USD okay they will
start looking at a markets usually from
4 p.m. Singapore time onwards that's
when it starts getting active you're
trading the Japanese yen or the
Australian dollar you can start of
course a lot earlier all right next the
business of forex trading allows you to
generate consistent profits once you
master this skill
okay so profit returns of 5% of 20% a
month are very possible
in fact that's pretty common among
successful forex traders now some of you
may think but you know currencies don't
move 5 to 20% of money so how do you
make 5 or 10% in life and the answer is
through leverage the currency market
allows you to leverage and what it means
is that you can buy you know a million
dollars of million US dollars worth of
currency without having a million US
dollars right in fact you just need less
than one percent of cash in order to
take a million dollar position so even
if the price of the US all the moves by
just a bit like move by 0.001 percent
that equates to even a 10 percent return
on your investment because of the
leverage factor okay so for $100,000
come for example you can easily generate
5 to 20 grand a month in profits
forgiven see easily means you have
mastered the skill okay now you don't
have to start if 100,000 obviously like
I said again start up a thousand dollars
you can start of $200 but understand
that you are then getting you know 5 to
20 percent returns off that thousand
dollars or off that $200 ok and all some
of you are thinking hey Adam I've seen
videos of on watch ads where people say
you know I'm making hundred percent a
month you know five hundred cent of
money in forex while you make you leave
5 percent 3 percent right that's not
exciting yeah sure you know are there
people who make hundred percent two
hundred a month in forex yes they are
they are well I can tell it is they
don't do that every month ok and I can
tell you most of the people who are
making a hundred percent 2 percent a
month I think extremely high risk and
what they don't tell you is that a month
later or the next money lose everything
okay so if you wanna make you know get a
big bang
sure go do that go ris a lot and can
make a lot you know in a shop bit of
time but more often than not it is not
sustainable like I said making money in
the financial markets is very easy and
either can do it
it's called luck just being there the
right place at the right time remember
the market can either go up or go down
so you've got a 50-50 chance of being
right when you place the bet okay but it
is be able to keep that money and to do
it consistently like a regular income
source that's difficult and if you wanna
do that you cannot risk a large amount
of your capital because all you need is
one time you're wrong and you will be
wrong this is a 50-50 chance 50-50
chance in a short term you're gonna wipe
everything out and I saw most people who
don't understand this most people go
into trading with this grandiose thing
they're gonna come in and they're
overnight 99.9% they will lose
everything all right so I can tell that
most people who do not take a proper
cost and it go in and try this out
you'll tend to blow the account blow
their companies they're gonna lose
everything at least three to four times
before you wake up and say okay fine now
I'm gonna do it properly and doing it
properly means not one thing to get a
hundred percent 2% return of money
that's not sustainable
okay it's getting five percent twenty
percent of mine that's sustainable all
right and then it's better to do that on
16 month of the month of the month then
Harper Center of us and one man and blow
everything the next month make sense I
hope you agree and that's really
important okay good let's move on Forex
basics okay if you know nothing about
Forex understand a Forex is called the
always in currency pairs okay so it's
unlike the stock money in stock market
you ask what's the price of Facebook
Facebook's hundred and sixty dollars
that's it that's one stop buying
currency you can ask what is the price
of the US dollar no the price of the
u.s. dollar versus what
versus the euro versus the yen so
currency is always quoted in pants right
see being exchanged for another currency
and each currency is given a tree let
the code so this is something that you
have to memorize okay
EU R is the Euro USD is the US dollar
GBP is the Great British Pound JPY
Japanese yen CHF the Swiss franc AUD the
Australian dollar see a deacon and
canadian dollar and NZ d the New Zealand
dollar so these are the eight most
common currency symbols that we will be
trading we will be trading Zimbabwe
dollars or Singapore dollars now that's
too exotic all right main currency pairs
so again these are other currency
symbols that we will be trading all
right at least I don't drink them and
again the most successful traders only
trade the most common and liquid seven
pairs now I do trade beyond the seven
pass slightly beyond it will show it to
you but these are the seven most common
pairs which are the most liquid yeah the
most actively traded okay highest volume
so it moves with the greatest volatility
and the tightest spreads and almost
spreads in a while so other seven most
common pass you've got the euro USD or
credit euro dollar we've got the pound
dollar we've got the dollar yen which is
u.s. dollar versus Japanese yen dollar
franc we have the Aussie dollar New
Zealand dollar and dollar cap okay so
these are the seven most common pants so
how do you read a currency quote again
currencies are coded in pairs and mostly
in four decimal places so what you see
is euro USD 1.35 or five - now we only
pay attention to the four decimal places
the fifth decimal place is known as a
fractional pip and we do not care about
that okay so
it's too small to worry about we're
looking at four decimal places right so
the last decimal place represents a pip
and I'll talk about the inertia
Wow okay so when you see a currency pair
the first one is known as the base
currency so euro is the base currency
USD is known as the core currency
all right and like I said the fourth
decimal place is known as the pin and
the PIP is the smallest change in the
currency pair that we are concerned
about okay so in this case it is 3 5
over 5 now usually what we really we
don't go one point three five four five
we just a tree 505 okay now if it goes
from three five oh five two three five
or six what does it mean it means that
the euro has or rather the Euro USD has
gone up by one pip right cuts from five
to six it's one tip in exams okay now if
it goes three five or five to three five
one six what has happened the Euro USD
has gone up by 11 pips
let's make sense eleven pips because 11
plus 5 is 16 okay
so pip is the last decimal place so if
you look at this entire thing is three
thousand five hundred five tips since
you move that from zero okay just a damn
long time ago my convention is a
fraction of pips so we're not gonna
worry about that we're gonna look at the
pip okay so I can say the base currency
always has a value of one okay so in
this case euro we're saying one euro so
in this case what we're saying is that
one euro is equivalent to one point
three five or five US dollars at this
particular point in time so in other
words if you want to buy one euro you
have to pay one dollar thirty five or
five cents
u.s. dollars to buy one euro and if you
want to sell one you know you would
receive one point three five four five
US dollars so that's how you read kind
of support okay
now understand all currency pairs except
the ones with the Japanese yen in them
are always quoted to four decimal places
okay so one pip is 0.0001 okay so that's
one tip which I mentioned early on but
anytime you've got a Japanese yen in the
pan like you've got dollar yen you've
got pound yen or anything again
okay the pants are always quoted to two
decimal places so when you have a up
again one pip is the second decimal
place second decimal place for any of
the yen pairs so most good other best
example is the US yeah or the dollar yen
so in this case the dollar yen is 98-73
on 98.7 tree so again what is this call
right the first currency in the court is
the base currency right I mean it's the
base currents moving right now it's the
base currency and what is this call
ladies and gentlemen it's called a court
currency that's right so remember that
the base currency which is the first one
is always one okay it's always one so
what we're saying now is that one u.s.
dollar is equivalent to ninety eight
point seven three Japanese yen okay and
again this tree the second decimal place
is a tip so if it goes from nine eight
seventy three to nine eight seventy four
right the dollar yen has gone up by one
pip make sense right if it goes from 98
cemetry to 98 in
for it's gonna by 11 pips okay if we
goes from 90s and we treat the money
it's 72 is gone down by one pin right so
you got that okay so in other words
again right one u.s. dollar is
equivalent to 98.7 three Japanese yeah
so again what's a pip pip is known as a
price interest point is the smallest
change in value for air for any given
Forex quote that we're interested in of
course the smallest one is the
fractional pip we don't care about that
so it's the smallest one we care about
okay so once again for all long yen
Forex pairs one pip represents the
fourth decimal place on the court
okay so again when the euro/usd moves
from three five over five to three five
or six it's a movement of one pit or
0.0001 okay for yen Forex pairs one pip
represents the second decimal place of
the court where the dollar yen moves
from 1855 to eighty eighty seven it's a
movement of the knee two pips right just
read we know what I just said right so
hope you understand you're clear at this
point fine
all right so the next thing to
understand is contract lock sizes so in
the forex markets when you buy or you
sell you're buying units of currency
right in lots so one standard lot that
you buy is always a hundred thousand of
the base currency so if you buy one lot
of Euro USD you're actually buying a
hundred thousand euros if you buy one
lot of dollar friend you're buying a
hundred thousand US dollars okay so he
goes by Lots and again one pip is a
fourth decimal place for non yen pants
and for yen pants like dollar yen pound
yen is a second decimal place so just
remember once then that law is a hundred
thousand of the base currency now you
don't have to buy one lot you can buy
less than one block okay so like I said
stand alone is a hundred thousand of the
base currency and you don't have to buy
one lot you could buy a mini long
10,000 Microlock thousand and then a lot
100k now you don't have to remember the
names of these it's not important what's
important is to know how many units you
have to buy and how do key in the lot
size now it depends on broken your use
for example if you use more empty for
platforms you key in in terms of lot
size for example if you are buying a
hundred thousand euros okay for euro USD
then you key in one alright because one
is one lot is a hundred thousand okay
you're gonna buy 50,000 what you give
yukine 0.5 okay 0.5 because one lot is a
hundred thousand so 0.5 is 50,000 can
you just write it down for you so one
lot is a hundred thousand one two three
and fifty point five is fifty thousand
one two three okay so let me repeat if
you're trading with most brokers that
use an mp4 platform then you key in one
four hundred thousand 0.5 to fifty
thousand if you gotta buy five hundred
thousand then you can fine
let's make sense okay but there are
certain brokers for example if you treat
if Interactive Brokers that when you
keep in no team by los sites you can buy
the currency unit so in other words for
interactive brokers you key in 100,000
right yukine a hundred thousand not one
this puke in one you just buy one you
guys dollar okay see at the key in a
hundred thousand so you have to know the
broker you're using you keen in lot size
on the left on your keen in the number
of units alright it's really important
but I guess it for most empty for
brokers that you'll be using
yukine by lot size alright next how do
you top it Forex prophets so the
prophets you make or the loss you make
is equal to the number of pips that you
okay it moved by 20 pips it moved by a
hundred pips so how many pills did you
capture multiply it by the number of
lots multiplied by the dollar value per
pip the standard lot okay so you
understand the number of pips
all right 20 pips hundred pips right you
understand the number of lots all right
so one lakh 100000 two lots to our
thousand okay I understand that now what
is the meaning of the dollar value per
pip in other words how much is one Pig
worth per stand a lot okay and the
answer is this the dollar value per pip
for each then the law is usually about
ten dollars okay for most of the
actively traded pants like euro USD
pound USD and also USD okay but to get
the exact value you can go to this
website over here which is empty
predicted comm slash pit value table to
find out the exact dollar value per pip
a lot for most of the major comes best
so if you go to the website you will see
something like that okay and again this
changes all the time so you have to get
the latest update on that day okay so on
this day when I log in it's the 7 of
October so as of the 7th of October you
can see that for euro USD the value of
one pip is now this table is based on a
mini lot of 10,000 so we want to look at
a standard lot which is a hundred
thousand right which I talked about so
in other words you have to take this
multiplied by 10 to get a stand alone
okay so 1 times 10 is 10 dollars all
right so all this would be 10 dollars
okay this would be 8 dollars and 90
cents right and this would be 1 this
would be 10 dollars and 20 cents right
just multiplied by 10 you know you roll
frame this would be
$10.20 this will be $8.90 so you can see
that for most of the currency pairs it
is straight-up ten dollars alright so in
other words everyone pip movement is ten
a lock that you buy that's what it means
alright so let's take a look at an
example so over here you can see that
this pair on the chart is a euro USD
okay and say we believe that the euro
USD is going up okay so when we say the
euro US is going up it means that the
euro is appreciating against the dollar
or we say the dollar is depreciating
against the euro so when we buy euro USD
we are bullish on the Euro we think the
euro is going up and we think the dollar
the US dollar is going down so we go
along on the euro US dollar make sense
okay and say we go along at three five
one zero okay and we buy one lot we buy
a hundred thousand of the base currency
which is 100,000 euros so we keen one
lakh into the broker and we in the train
and say we are right and it goes to
three five five zero and we sell so how
many pips do we capture we captured 40
pips right because three five five zero
minus three five one zero is 40 pips and
we bought one standard lot so times one
if you bought two Lots time stood you
bought half a lot times zero point five
exams and we multiplied by the dollar
value per pip and a dollar value per pip
for euro USD which you saw on a table is
ten dollars
all right so 40 pips - and all this
times 1 lakh is $400 all right so in
this case you meet $400 again this is
the dollar value couple less than a lot
so let me explain the same thing in a
linear form some people like to think
linear so again I go along on your us
one standard lot at three five one zero
okay so again I bought eur/usd at three
five one zero and I sell your USD at
three five five zero so the difference
is 40 pips okay
and again the profits is the number of
tips times the dollar value per pip
times number of laws so the 40 pips
times ten bucks times one knot that's
four hundred dollars okay so another way
of looking at it is that I'm buying one
hundred thousand euros and paying one
hundred thirty five thousand one hundred
dollars okay I'm buying a hundred
thousand euros and paying one three five
one hundred for those hundred thousand
euros and then I sell a hundred thousand
euros over here and we see a her in
thirty five thousand five hundred
dollars right you can see over here so
the profit earned is this and this so
this class this - this is four hundred
dollars okay so notice that if you don't
use leverage all right you would have to
invest a hundred thirty five thousand a
hundred dollars or a hundred thousand
euros to earn four hundred dollars u.s.
right so in other words you're earning
four hundred US dollars from $135,000
that's a 0.29% we third let me say
that's such a small return in order to
borrow a hundred thirty-five thousand US
dollars we make four bucks are you mad
that is why in forex or forex traders
use leverage because we don't use
leverage doesn't make sense because
currencies move very little every day so
for us we're gonna be day traders with a
buy and sell on the same day all right
so to make it worth our while to have a
good return all right we need to use
leverage in other words we don't want to
put down a hundred thousand euros in
order to make a lousy for a box we want
to quit a small
deposit in order to buy the 100,000
euros so that a profit over our deposit
is a good return okay so most forex
brokers allow you to leverage one is to
a hundred what does that mean that means
for every hundred thousand euros you
need 1,000 euros of deposit to buy that
position okay so if you only use a
thousand euros okay that means you're
making $400 from a thousand euros and
that's a much better return okay but I
can tell you that for us or for me at
least when I trade Forex I don't ever
use more than one is 220 leverage
okay so again broker's allow you to
leverage one is 200 but for the purpose
of trading we will not be leveraging any
more than one 220 okay so in other words
for every ten thousand you put into your
account as capital you don't have to buy
more than 200 thousand worth of any
currency very rarely right usually I
only leverage about 10 to 15 times so
for every ten thousand I put in I'm only
buying a hundred thousand worth or
hundred fifty thousand worth of currency
so again if you employ an average of one
to twenty we just need to invest a
margin margin means deposit of 675 five
right or other five percent of the
position signs so our return in this
case becomes four hundred dollars profit
over 675 five which is a deposit you
need to buy her and thirty five thousand
euro dollars and that's a 5.9 percent
per tree which is a lot better right so
let's look at opposites in error which
is going short so in this case we
believe the euro USD is going down all
right the euro is depreciating against
the dollar okay so we'll go short and we
euro/usd at three five six zero we shot
one standard contract one lot which is a
hundred thousand euros all right and
simply alright it goes down and we then
buy it back at three five two zero okay
so how many pills do you have okay so
notice in the forex markets okay yeah
two weeks to make money one way to make
money is by low sell high
all right which is what we did in a
previous example the other way to make
money is to sell high and buy low right
so it's the same thing just go in the
opposite direction you make make the
same profits okay so in this case we
sell at three five six zero we buy at
three five two zero and we made 40 pips
okay I made 40 pips the difference
between 3 5 6 0 minus 3 5 2 0 40 pips
you've made 40 pips and each pip is $10
we bought one lot less for our box so
same thing so again I mean we explain in
linear form going short euro-usd one
standard contract and so we saw euro USD
at three five six zero and we bought it
back at three five to zero difference 40
pips okay
so again what's your total profits
number of pips
which is 40 multiplied by the dollar
value per pip which is ten bucks for
this pair x 1 lakh which we bought one
lakh if you bought two Lots we times two
okay so with four hundred US dollars so
again another way of looking at it is
that we start by selling a hundred
thousand euros okay and received a
hundred thirty five thousand six hundred
dollars okay and then we bought a
hundred thousand euros and paid a
hundred thirty-five thousand two hundred
dollars so we bought her thousand you
and paid this amount of which we have
this amount already okay so the total
profit earned will be the difference
between this and this 400 bucks
all right so meet foreign dollars so
again without leverage notice that you
would have to utilize $135,000 to earn
400 dollars and the return 400 over 135
grand is 0.29% meter all right so how do
you with our okay so we use leverage so
instead of putting down a hundred 85
grand if we use leverage of 1 is to 20
that means we only have to put a 5%
deposit or five percent margin in order
to pick this position yes right so 5% of
135 grand is $6,000 so $6,000 we can't
buy this position or rather sell it and
buy it back and we're making foreign
dollars so $400 over oops
school fast $400 over let's go back to
right $400 over six grand is five point
nine percent return for one trade that
takes one to two hours pretty good with
right so leverage is what makes what
allows us to get a really good return on
our screens okay so again let me just
talk a bit more on leverage again in
forex most brokers were allowed traders
to leverage one is to 100 times okay
so that means you can buy or sell a
hundred thousand US dollars worth of
currency with just a thousand dollars in
your account but in most trading
situations we usually only leverage one
is to Trinity okay so this means that
the $10,000 account we usually will buy
or sell up to two hundred thousand worth
of the currency and the very most and
that is all that's required to achieve
exceptionally high returns consistently
okay so notice that based on the
leverage that tells you the margin
required okay
so again once the twenty means that we
just put a 5% deposit or five percent of
the contract size to go long or short on
the position right so that's how we use
leverage all right so as the ball the
different kind of forex traders so just
like there are so many ways to cook fish
just so many ways to trade Forex and
there's no the way there's no the right
way there are many ways and you can be
really successful really profitable in
many different ways so it all depends on
choosing a style of trading that you're
comfortable with that suits your
personality and that fits in with again
your work schedule or your time schedule
alright so they're busy four kinds of
forex traders and let's begin with the
long term and then I'm going to go down
to the short term right so some people
are or composition traders in other
words they will enter the Forex position
and you will hold it for a couple of
months or even years why do you have a
long term view and normally these people
they will tend to trade based on looking
at fundamentals right the under
buying half of economy what's happening
to interest rates in GDP and they look
at the overall big trend so no me
position traders like George Soros for
example when he enters a trade he will
target five hundred to a thousand pips
but trade or more right so to capture
five hundred thousand pips you have to
stay in the trade for you know a few
weeks two months even years right and
position traders they tend to look at a
chance and they look at daily candles
right so each candle represents one day
or they may get weekly candle so those
are position traders okay next we have
swing traders so swing traders would
typically target 50 pips to about 150
pips per trade so when you get in they
hit 50 150 the outlet rate and the trick
duration usually lasts for less than a
week couple things right and you look at
charts with hourly or for hourly candles
so those are some traders makes you've
got day traders and they trade us as the
name implies they buy and sell within
the day right the trade rarely passes
over the next day right by the energetic
they close the trade and so normally a
day traders would do a couple of trades
a day right maybe two three trades a day
where swing traders right it takes about
a couple days to close the trade right
so let me not take as many trades and
position traders would take even less
trades because they are one trade lasts
for a few months or even weeks or years
day traders would look at chance and
analyze based on 15-minute candles or
one-hour candles or for our candles now
the shortest time frame their people
trade are the well calling scalpers
where they sculpt the market so scalpers
usually they enter and exit within a few
seconds so if I poop they sell all right
and they just target five to ten tips
they're out of the trade and they look
at one minute and five
cackles right so again you've got
successful traders in all four
my personal preference and it's worked
for me where I make the most money
consistently is that's right I'm a day
trader right so I usually take anywhere
from 1 to a maximum of three traits that
they know more than that right because
my take you might take an average of two
trades a day which I do in a month
you're doing about four traits and
that's more than enough 14 traits about
this morning okay and again my usual
target is like it applies 20 to 40 pips
per trade and I bet the trade on
15-minute candle so each candle is
15-minute timeframe so that is my
personal style so let me show you the
chart and show you how this comp looks
like on the chart itself all right so
let me show you an example of the
different come trading styles with the
charts okay so what I'm using is the mt4
platform which is the trading platform
there most traders use and most forex
brokers use the same mt4 platform and in
the lesson on technical analysis you can
be learning exactly how do you set up
the platform how do you use all the
charting software but for now I'm just
gonna show you some basics of how we
trade in a different styles right so I'm
looking at the euro USD okay and the
markets close right now I'm doing this
on a weekend so you can see that the the
price are not moving but when the
markets open you can see the prices
we're moving rapidly okay now what I've
selected is d1 which means daily candles
right which means each candle represents
one day so that's one day two days three
days four days five days so on and so
forth and you can see these written
green candles the green candles
represent bullish candles which means
the price closed higher than the open
and bearish candles where the price
closed lower than the open and again
you'll be learning candlestick patterns
in detail under the lesson of penny
analysis so right now I just want to
show you that for
and traders okay who are long-term
traders they look at daily candles right
and so what happens is for example you
may see an uptrend and say okay I want
to enter the trend so for example you
can see this is a very clear uptrend
over here all right let me see okay I
want to buy here right by the euro USD
and maybe you want to sell it somewhere
here for example okay so so how long is
this right so this April right April May
June July August right April May June so
it's five months right so the whole one
trip for five months before you exit is
a position trainer to me it's really
long term and how many pips is that well
let's take a look if you click on this
crosshair okay and you click on this and
drag now do you notice you can see these
numbers gives it is four three seven six
can you see that if you drag for six
three eight five one three can you see
that okay so those are the number of
pips number of pips so in other words if
you were to buy from here okay from here
and you want to sell it here how many
pips is that that is six one three one
can you see that now six one three one
can sees four decimal places
okay but in this case the one is a
fractional pip
so you ignore the one you think six one
three so this means is 613 pips 613 pips
okay so which means that if you were to
buy here all the way you sell it there
how many pips is that there is one
thousand three hundred and fifty seven
tips right because the tree at the end
one three five seven tree ignore the
tree because there is a fractional dip
so again one three five centers 1357
tips so you can
see that for a long-term opposition
trader right yeah you know you need to
capture a thousand pips five hundred
pips mm okay so to do that you have to
be in a trade for a couple of months
okay so that's position trading so
that's not my style right you can do
that if you want to that's not my style
next would be I mentioned swing trading
right so swing trading is again you tend
to look at hourly candles as a swing
trader so when you click h 1 its hourly
candles so now it's complimentary a
microscope we're zooming in such that
now each candle that you see is one hour
so this one-hour candle one hour so each
candle takes one hour to form okay so as
a swing trader okay you can look at the
hourly candles one out of four hour
candles for our candles right where each
candle represents four hours so for
swing trader they may take a slightly
longer tree okay
four for swing trader they may for
example trade from here I can see an
this is uptrend here right and this is
consolidation going sideways so they may
take a trade for example they may buy
somewhere here okay and now me maybe
sell yeah
in fact shorter than that so for swing
trader you zoom in a bit okay so let me
buy somewhere but there and they may
even sell just there okay so they
captured about 100 in because you 1/3
1/5 1/3 1/5 at the center so that's 100
then you want pips all right slowly
capture hundred 31 pips
get out of the tree and again from here
to there we buy and sell there it took a
couple of days from the fifth of July to
about the 11th of July right so that's
about five days six days right so
there's a swing trader right so the
treat lasts for a few days okay they
look at four hour one hour candles okay
mix so let's go down we have got
position trading swing trading and next
week day trading right which is what I
do so I'm a day trader and it's a day
trader I tend to use 15-minute candles
right 50 minute candles so now it's like
I take a microscope i zoom in even
further down and each of these candles
you see over here okay these are 15
minute candles or each candle represents
15 minutes 15 minutes between minutes
right so as a sweet as a day trader I
will usually go for you know 20 or 30
and I'm out right so you know I could
for example you can notice that you know
there's a nice trend here going up trend
going down right so we vessels up and I
could take a trade here somewhere for
example I'll teach you again on the
lesson on the strategy right the impulse
poobah impulse pinball tell you exactly
when to get in based on the moving
averages support resistance candlestick
patterns so I'm not showing you the
exact strategy right now I don't confuse
you just showing you you know how many
pips we capture right so I could enter
here for example as a day trader and you
know I kept just something like about
there I can see two for two in the
center so there's 24 pips
alright so you know I buy somewhere here
all right i buy again i buy somewhere
whoops buy somewhere here and there are
sell somebody all right so here myself
there I get 24 pips
that's it I'm out and I go for the next
trade I mean by here and sell there all
right so
capturing the very short-term trends
within the day so you can see that this
trade from here to here was within the
same day within a third of October so
how long did this trade thing it took
one two three four right one candle is
15 minutes right so four candles is one
hours one two three four this one hour 1
2 3 4 2 hours 1 P 3 half an hour right
so this trick lasts for you know about
two and a half hours that's it out of
the trade so this is day trading right
and finally you got scalping and
scalping I don't do because it's too
fast pace for me right it's too
I know ideas copper but scalpers they
may use one minute candles or five
minute candidates right so let me use a
1-minute candle and it's kind of like
you zoom in even further but microscope
alright and you can see that each of
these these candles are one minute why
did they wanted to form and the scalper
may buy here right me say hey okay
there's this sideways trend going out
right so they buy here they buy here and
you know they get maybe like 10 pips I
can see one through three all right the
center so that's 10 tips so we buy here
you get 10 pips poop get out it's so
right get in the game it's elegant get
in the cursor really stressful you do a
lot of trades a day not my stuff right
so again I'm a day trader and hope this
gives you a better understanding of the
different kind of trainers okay so let's
move on to the next part
all right so let's run through the
entire training cost curriculum and you
should be able to finish this course
within a week you know you can look at
one less than a day and then practice
it'll be ideal to be optimal right and
do practice it as you learn so less than
one we have just coming to the end of
lesson one where is the introduction to
forex trading I do hope now you've got a
pretty good understanding of what Forex
is all about and how we trade it okay
lesson two we'll be going to next where
you're gonna learn the secret to
achieving consistent trading profits and
it's based on statistics based on
mathematics right
you'll be learning the statistics
off-again consistent profits how to
achieve consistent profits from random
outcomes right in a short-run price
movement is pretty random but there are
repeatable patterns that we exploit in
the markets to create consistent profits
over a number of trades you'll be
learning exactly how to trade just like
a casino
you know the casino is playing a game of
chance with the players but a casino
always wins at the end of the day
because they've got an edge over the
players mathematically you will learn
the principle how casinos do it and
implement it into your trading routine
and how to develop a trading system with
a positive expectancy no markets next in
lesson 3 be going through technical
analysis which is the main tool I use to
get an edge in the markets to end
dissipate price movements you'll be
learning about the foundational
principles of PA will cover candlestick
patterns how do you identify trends how
to utilize support and resistance levels
how to master moving averages and how to
use the trading platform and we're gonna
be using the empty four platform which
is the most common platform used by
traders okay lesson four lesson for us
all about position sizing risk
management how do you manage your money
and size your positions how many units
do you buy make contracts you three and
how do you automate your trading
business with all the management
techniques so your entries and exits are
automated you don't have to be there
things your emotions of equation okay
lesson five Anderson lesson five will be
the first lesson will be learning the
actual strategy where we put everything
together into a system okay a system
there were generate consistent profits
and the first strategy you'll learn is
the impulse pullback strategy okay so
you'll be learning about specific price
action patterns be using for this
strategy entry and exit rules for long
setups and short setups how do we feel
to take only the highest quality traits
and how do you manage your trade right
how do you exit a trade how do you enter
the trade with precision okay lesson six
really important psychology of winning
traders so how do you how do winning
traders think differently from the herd
how do you manage overcome negative
emotions that will impede your progress
as a trader that can sabotage you okay
how do you manage temporary draw downs
in your capital which is inevitable
trading and how do you program your mind
to become a winning trader okay so in
lesson seven you'll be learning the next
strategy which is the impulse pinbar
strategy this is not a very powerful
strategy that I use with really high win
rates and expected profits okay you'll
be learning about the bullish and
bearish pinbar and specific price action
patterns that work with this strategy
exact entry and exit rules form long and
short setups how do you fill them for
the highest quality trades and again
trade management and exit strategies
finally to cap it all off lesson eight
developing a trading plan just like any
business is a business plan as a trainer
professional trader you need a trading
plan to guide you so you'll be learning
to develop such a training plan and
you'll be learning about my daily
trading routine that takes three to six
hours a day or even less okay how do you
keep a trading journal to record your
progress and to keep improving with each
and every day and you also talk about
how do you choose a Forex broker with
really tight spreads no commissions that
can really help you in your training
journey okay so that concludes lesson
one and I'll see you guys in the next
lesson do you revise what you've learned
got questions send me an email
happy to help is adam koo

source : By Adam Khoo


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