INTERMEDIATE FOREX COURSE
January 28, 2024
If you’re just starting to explore the world of forex trading, you’ve landed in the right place to kick off your journey. While trading Forex might seem a tad confusing at first, rest assured, it’s actually more straightforward than you might think. Dive into the introductory video below to set yourself on the right track.
Now that you’re aware, Forex Trading isn’t as challenging as it may appear. All you need is to prepare your trading essentials – a smartphone or laptop, a reliable internet connection, and a trading platform provided by your chosen forex broker.
When you first glance at the chart, it’s a sea of emptiness, making it challenging to discern where to direct your attention. This video is your compass, steering you towards the vital aspects and introducing you to both the Metatrader 4 Trading Platform and the significance of the candlestick chart. These visual cues illuminate the interplay between market sellers and buyers. Strengthen your comprehension by watching the video below.
Hanzo’s trading style relies heavily on the fundamental principles of Supply and Demand, the bedrock of economics that propels the financial world. The dynamic interplay of Supply and Demand dictates price movements, vividly illustrated in the charts on your trading platform. By comprehending the driving forces behind price fluctuations, you gain the ability to anticipate future market movements. To deepen your grasp of the supply and demand theory, please watch the video below.
Applying Supply and Demand theory in trading may initially appear confusing, but it is more straightforward than it seems. Candlestick charts symbolize the interplay between buyers and sellers in the market, with buyers representing the demand side and sellers as the supply side. By recognizing this relationship, we can identify a specific level where buyers and sellers agree to transact, known as the Equilibrium Point. This point serves as our Supply and Demand Entry Zone, also known as the Base or Order Block.
There are four types of order blocks that a Supply and Demand Trader needs to understand before engaging in trading. Further insights can be gained by watching this informative video.
Trading supply and demand may seem overwhelming at first, but don’t forget to manage your risk when navigating these zones. There are two ways to limit your risk if the trade goes against you: by setting a stop-loss level or using the cut-loss method. Both methods come with distinct advantages and disadvantages, providing the flexibility to align with your preferred trading style. Once you know how to calculate your risk, you can then determine where to set your take-profit level using the risk and reward ratio method, as explained in the video below.
The Forex market is closed on weekends, preventing you from executing trades. However, for passionate traders eager to stay engaged with the market, there’s a valuable alternative: backtesting.
Backtesting involves studying past charts to gain insights into market behavior. Generally, what occurred in the past tends to repeat itself in the future. The purpose of backtesting is to develop the skill of anticipating future chart movements when they unfold. The more adept you become at identifying repeating patterns, the quicker you’ll catch potentially profitable trades. Learn the art of backtesting the right way by watching the video below.
The Forex Market provides two primary methods for executing trades: Market Orders and Pending Orders.
Market Orders are executed instantly, with a trader opening a trade at the best available price at that very moment. On the other hand, Pending Orders involve a trader opening an inactive trade position at a specific desired price level. This inactive position becomes active once the market price reaches the specified level. It’s important to note that a buy order and a sell order will trigger at different prices – the ask price for a buy order and the bid price for a sell order. For a more in-depth understanding, watch the explanatory video below.
As you enter the world of trading, it’s crucial to recognize that forex is a high-risk investment, not suitable for everyone. However, traders employ specific strategies to navigate the market with controlled risk and set target profits. This is achieved through the use of tools like Stop Loss and Take Profit. But what are they exactly? Delve deeper into their significance and functionality here.
Admitting as traders that not every setup reaches the Target Profit Level is a key realization. It can be disheartening when a trade, initially successful, takes an unexpected turn and hits the stop loss instead of following the planned trajectory. This abrupt shift, despite moments of profitability, often leads to frustration. Fortunately, there are strategies to safeguard initially profitable trades from unexpected losses. Discover these valuable methods in the this video.
Some traders might stack a new position on top of another when a trade moves against their initial position. This stacking of orders continues until the trade finally aligns with the trading plan. Such trades typically involve numerous positions opened in a single pair, making it a hassle to close each one individually. In this video, you will learn how to close all these positions in just a few steps.
As you enter the world of trading, it’s crucial to recognize that forex is a high-risk investment, not suitable for everyone. However, traders employ specific strategies to navigate the market with controlled risk and set target profits. This is achieved through the use of tools like Stop Loss and Take Profit. But what are they exactly? Delve deeper into their significance and functionality here.
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