Trading has always been a dream for all those who are searching for financial independence, dreaming of being their own boss, working from home, in front of a computer. It is more these days, with the Internet being around and all of those brokers out there offering direct access to international financial markets, regardless what you are willing to trade: currencies, stocks, options, etc. But one question remained all the time: from where should I start? What I am trying to do here is to have a so called “guide” or “trading manual” or a “journey” for actually eliminate the previous question.
Starting from the scrap, the purpose of this project is to present you the world of trading the currency markets, also known as foreign exchange. We are talking about the largest, more complex, fast moving, trickiest market of them all.
I am going start with showing you the basics, like introducing one of the best trading platform on the markets now, Metatrader, with all its features and characteristics. Then I’ll go introduce some indicators, of course, not all, because there are hundreds on the market and I do believe that each trader should find its own system/set of indicators that works best for him. Further we’re gonna see together basic shapes into the market, like continuation patterns, reversal ones, most known trading theories out there, as well as other trading strategies and some tips and tricks for making a trader’s life as easy as possible. The summary of this project can be find below, and so that you know the structure of it, each sub-chapter will have at least one video plus one text explaining the subject.
One more thing before moving forward. Is trading so hard? Is it impossible to successfully practice it? Can one live from it? Are you trading material? Do you have all it requires? Do you have enough time for it? Well, trading is not an easy task and it requires same dedication as any other job in this world. Maybe even more. So if you are looking for easy money, than this is not for you. But if you are looking for learning how to properly trade currency markets, than you are in the right place. After all, you have to believe you can do it. If you don’t, who else? Impossible is nothing. Enjoy.
Chapter 1 Dealing with Basics
- Introducing the Metatrader 4 platform (type of charts, currency pairs, spread, indicators, tools used, etc)
- Preparing the working space
- Using multiple time-frames for analyzing a pair
- Type of orders
Chapter 2 Most Used Indicators
- Trending Indicators – Bollinger Bands, Commodity Channel Index (CCI), Moving Averages
- Oscilators – Williams Percentage Range, Ichimoku Kinko Hyo, Relative Strength Index (RSI)
- Custom Indicators
- Applying indicators on a chart
Chapter 3 Fibonacci
Chapter 4 Basic Patterns in Technical Analysis
- Double top/Double bottom
- Head and Shoulders
- Rising Wedge/Falling Wedge
- Contracting Triangles
- Expanding Triangles
- Support and Resistance Levels
Chapter 5 Trading Theories
- Elliott Waves Theory – Short Introduction
- Andrew’s Pitchfork – Short Introduction
- W.D. Gann