how to pick your first winning forex trade
TRANSCRIPT
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What is Forex
Market basics
Trading platform
Money management: The key to a being successful trader
Putting it all together (Your trading plan)
How to conquer the two most common trading demons
Where do I start?
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The only indicator you need to pick winning Forex trades
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Share
Today, I want to share my
insights into this amazing
financial freedom technique,
and all its hidden potential!
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WHAT IS FOREX
"FOREX" stands for foreign
exchange
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The world's most traded market
With an average daily turnover of USD $3.2 trillion, FOREX is
the most traded market in the world.
What do Forex traders trade? • FOREX requires traders to swap a pair of currencies--not a
single currency.
• “Majors”
• The currency combination or cross, necessitates the buying of
one currency and the selling of another. (ex: GPB/Yen or
USD/EUR)
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Who are the big players in this market?
¥ Large banks, central banks, and other financial institutions.
¥ Individuals
¥ Governments
¥ Currency speculators / retail traders / brokers
¥ Institutional investors
Who are the big players in this market?
¥ Corporations involved internationally
¥ Travelers / Tourists
Why you need to trade Forex over any other instrument
• Trading can be done from anywhere in the world and all you
need is an internet connection and a computer.
• Huge trading volume - This leads to dense liquidity making it
easier to get in and out of positions at the price you want.
• Flexible trading hours; The Forex market is open 24 hours a day
5.5 days a week.
Why you need to trade Forex over any other instrument
• There are fewer variables to consider when compared to stock
or commodity trading.
• No inherent market bias like the bullish bias stocks, this means
greater opportunities to profit from the volatility in both rising
and falling markets.
• Ease of accessibility and low start-up costs.
How to conquer the two most common trading demons
How to conquer the two most common trading demons
• Trade small, especially if you are a beginner.
• Manage your loses.
• Trade with a shorter time horizon.
• Trade only with money you can afford to lose without
affecting your lifestyle.
• Balance greed and fear - "nothing ventured, nothing gained"
Market basics
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How to read charts
Bullish
Markets
Bearish
Markets
What influences exchange rates?
How the Euro exchange rate dropped
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How the euro Exchange rate dropped?
Trading platforms
Desktop Phone Tablet
The only indicator you need to pick winning Forex trades
How the indicator works
How the indicator works
After that time, high and low values are fixed and become the
new resistance and support levels to breakout from.
How you can use my indicator to pick your first winning trade
Enter short when there has been a breakout at the underside
of the offset area, (light green area).
Avoid a false signal using this top trend Indicator
Stop-Loss
0000
1000
2000
3000
4000
5000
Stop -
Loss
Open
Target2
My 4 Secrets for making
the perfect trade entry
• Set up your trades at the start of each day
• Wait for confluence using the T.L.S principle
– TREND
– LEVELS
– SIGNAL
• Using stop orders to get better prices
• Have a simple trading checklist and use it religiously
Simple enough to understand right?
Money management: The key to being
a successful trader
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Money Management
• Failure to employ sound money management principles will
bust your portfolio no matter how good a trader you are!
• Never risk more than 2% of your portfolio on any trade
• This is not a get rich quick scheme, it’s get rich slowly
• Protect your account at all costs!
Typical Scenario
1:2 Risk Ratio
Stop -
Loss
Target1
Open
Target2
000
200
400
600
800
1000
400=
Pro
fit
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0=
Ris
k
How to stack the trading odds in your favour
Psychology:
Fear and Greed
Trading platform:
Familiarise yourself with the platform
Strategy to trade:
Breakout
Time frame
Entry setup
Signal your entry trigger
Money Management:
Where to place your stop loss
Where to place your take profit
How much to risk
Putting it all together (Trading plan)
Where do I start?
• What you get: – Trading plan template
– Money management
– Trading journal
– My personal Forex indicator
• Opening an account is easy
• Trading Desk Vunani Private Clients 011 3842920/1/2/3/4
R
IronFx account
• Electronically signed online Mandate
• Certified FICA documents required
– Copy of ID
– Proof of Residence
– Banking Details/statement
– SARS documentation with your SARS number
• Min R5,000.00 but recommend R10,000.00
Thank you Lucky Skosana
Vunani Private Clients
151 Katherine Street
Sandton
011 3842921 [email protected]