Advanced W.M Forex Trading Course - Swing/ Day Trading Forex | Free Udemy Course finance-and-accounting, investing-and-trading, Day Trading (2024)

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• Introduction Video

  00:35

  What Is the Forex Market?

  The unfamiliar trade market is where monetary forms are exchanged. Monetary forms are significant on the grounds that they permit us to buy labor and products locally and across borders. Global monetary forms should be traded to lead unfamiliar exchange and business.

  Assuming you are living in the United States and need to purchase cheddar from France, then, at that point, possibly you or the organization from which you purchase the cheddar needs to pay the French for the cheddar in euros (EUR). This implies that the U.S. shipper would need to trade the same worth of U.S. dollars (USD) into euros.

  The equivalent goes for voyaging. A French traveler in Egypt can't pay in euros to see the pyramids since it's not the privately acknowledged money. The traveler needs to trade the euros for the nearby cash, for this situation the Egyptian pound, at the ongoing conversion scale.

  One of a kind part of this worldwide market is that there is no focal commercial center for unfamiliar trade. Rather, money exchanging is led electronically over the counter (OTC), and that implies that all exchanges happen by means of PC networks among brokers all over the planet, as opposed to on one unified trade. The market is open 24 hours per day, five and a half days seven days, and monetary standards are exchanged overall in the major monetary focuses of Frankfurt, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zurich — across pretty much every time region. This implies that when the U.S. exchanging day closes, the forex market starts over again in Tokyo and Hong Kong. Thusly, the forex market can be incredibly dynamic whenever, with cost statements evolving continually.

• Chart Setup & Indicators

  02:38

  Forex Indicators:

  Presently we have a pattern following instrument to let us know whether the significant pattern of a surrendered money pair is or down. Yet, how dependable is that marker? As referenced before, pattern following instruments are inclined to being whipsawed. So it would be good to have a method for checking regardless of whether the latest thing following marker is right.

  For this, we will utilize a pattern affirmation instrument. Similar as a pattern following device, a pattern affirmation instrument might possibly be planned to create explicit trade signals. All things being equal, we are hoping to check whether the pattern pursuing instrument and the direction affirmation device concur.

  Generally, if both the pattern pursuing device and the direction affirmation instrument are bullish, then a broker can all the more with certainty consider taking a long exchange the cash pair being referred to. Moreover, in the event that both are negative, the broker can zero in on tracking down an amazing chance to undercut the pair being referred to.

  One of the most famous — and helpful — pattern affirmation instruments is known as the moving normal combination uniqueness (MACD). This pointer first estimates the distinction between two dramatically smoothed moving midpoints. This distinction is then smoothed and contrasted with its very own moving normal.

  At the point when the ongoing smoothed normal is over its own moving normal, then, at that point, the histogram at the lower part of the outline underneath is positive and an upturn is affirmed. On the other side, when the ongoing smoothed normal is beneath its moving normal, then the histogram at the lower part of the figure underneath is negative and a downtrend is affirmed.

• Basic Forex Terminologies

  16:10

  Forex trading is built on a variety of both standard and specialized trading terms. Learning Forex terms is essential to becoming a successful trader.

• Multi Timeframe Analysis

  12:00

  What Is Multi Time-Frame Analysis?

  Numerous time span examination includes observing a similar money pair across various frequencies (or time compressions). While there is no genuine limit regarding the number of frequencies that can be observed or which explicit ones to pick, there are common principles that most experts will follow.

  Regularly, utilizing three unique periods gives a sufficiently wide perusing available, while utilizing less than this can bring about an extensive loss of information, and utilizing all the more commonly gives repetitive investigation. While picking the three time frequencies, a basic methodology can be to follow a "rule of four." This implies that a medium-term period ought to not entirely settled and it ought to address a norm with regards to how long the normal exchange is held. From that point, a more limited term time period ought to be picked and it ought to be something like one-fourth the transitional period (for instance, a 15-minute diagram for the momentary time period and hour long graph for the medium or middle of the road time span). Through a similar computation, the drawn out time period ought to be no less than multiple times more prominent than the moderate one (in this way, keeping with the past model, the 240-moment or four-hour diagram would adjust the three time frequencies).

  It is basic to choose the right time span while picking the scope of the three time frames. Obviously, a drawn out merchant who stands firm on footings for quite a long time will track down little use for a 15-minute, hour long and 240-minute blend. Simultaneously, an informal investor who stands firm on footholds for a really long time and seldom longer than a day would track down little benefit in everyday, week by week and month to month plans. It is not necessarily the case that the drawn out merchant wouldn't profit from watching out for the 240-minute diagram or the momentary broker from keeping a day to day graph in the collection, yet these ought to come at the limits as opposed to securing the whole reach.

• Market Structure Explained

  16:30

  What Is Market Structure in Trading?

  Market structure, as an idea, is the same old thing and has been around however long monetary business sectors themselves.

  Notwithstanding, the center standards keep on being critical. Particularly with regards to investigating cost development and distinguishing exchanging valuable open doors.

  Market structure goes about as an aide for understanding vertical, descending, and sideways patterns. Similar standards can be utilized in a market, from stocks, prospects, forex, and items, to computerized resources like cryptographic forms of money or even actual resources like land.

• How To Use The Fibonacci Tool

  18:30

  Fibonacci Indicator:

  Fibonacci examination can improve forex execution for both short and long haul positions, recognizing key cost levels that show stowed away help and opposition. Fibonacci utilized related to different types of specialized examination fabricates a strong starting point for techniques that perform well through a wide range of economic situations and unpredictability levels.

  twelfth century priest and mathematician, Leonardo de Pisa found a mathematical grouping that shows up all through nature and in exemplary show-stoppers. While his examinations were hypothetical, these Fibonacci numbers show productive applications in our advanced monetary business sectors, depicting connections between cost waves inside patterns, as well as how far waves will convey prior to switching and testing earlier levels.

  The .386, .50 and .618 retracement levels contain the essential Fibonacci structure found in outlining bundles, with .214 and .786 levels adding profundity to advertise examination. These optional proportions have taken on more noteworthy significance since the 1990s, because of the deconstruction of specialized investigation equation by reserves hoping to trap dealers utilizing those rules. Accordingly, whipsaws through essential Fibonacci levels have expanded, yet consonant designs have stayed in one piece.

  For instance, it was regularly accepted the .618 retracement would contain countertrend swings in an emphatically moving business sector. That level is currently regularly abused, with the .786 retracement offering solid help or opposition, contingent upon the heading of the essential pattern. Merchants and market clocks have adjusted to this sluggish development, modifying techniques to oblige a higher recurrence of whipsaws and infringement.

• Horizontal Support & Resistance Levels

  13:00

  Support and Resistance Defined:

  Support is a price level where a downtrend can be expected to pause due to a concentration of demand or buying interest. As the price of assets or securities drops, demand for the shares increases, thus forming the support line. Meanwhile, resistance zones arise due to selling interest when prices have increased.

  Once an area or "zone" of support or resistance has been identified, those price levels can serve as potential entry or exit points because, as a price reaches a point of support or resistance, it will do one of two things—bounce back away from the support or resistance level, or violate the price level and continue in its direction—until it hits the next support or resistance level.

  The timing of some trades is based on the belief that support and resistance zones will not be broken. Whether the price is halted by the support or resistance level, or it breaks through, traders can "bet" on the direction and can quickly determine if they are correct. If the price moves in the wrong direction, the position can be closed at a small loss. If the price moves in the right direction, however, the move may be substantial.

• Psychological Levels & Round Numbers in Forex Trading

  09:16

  WHAT ARE PSYCHOLOGICAL LEVELS AND HOW DO THEY WORK?

  Psychological levels are market price levels which are often key levels in forex denoted by round numbers. These round numbers frequently act as levels of support and/or resistance.

  Psychological support and resistance consistently work because of fundamental human disposition. Human beings value simplicity; from a trading perspective this means valuing whole numbers. Traders often use these numbers as entry, exit or stop levels. These stops and limits can alter order flow and price changes.

• Identify Possible Reversal Patterns In The Market

  07:56

  Reversal patterns, as the name suggests, change the course of an ongoing trend, whether it is bearish or bullish.

  For example, if the price action indicates that the trend is moving upwards, then this should eventually see an end to the course of the ongoing trend. And a reversal to the downside should be initiated.

  Reversals can be easily spotted on the charts. However, beginner forex traders usually identify them after they have already taken place.

  In this article, we are going to explore the most commons types of reversal patterns, to help FX traders identify them on time.

  Most Common Reversal Patterns

  While there are many reversal patterns to consider, we put together a list below, identifying some of the most common ones to add on your cheat sheet:

  1. Double Tops and Double Bottoms

  2. Triple Tops and Triple Bottoms

  3. Head & Shoulders and Inverse Head & Shoulders

  Each one of these reversal patterns occurs several times during a forex trading session.

  The occurrence, however, depends on a number of different characteristics. Price action is one of them, and volatility is another.

  How to Identify Reversal Patterns

  One of the best ways to identify reversal patterns is through price action.

  Price action can help an FX trader spot both reversals that are about to occur, as well as ones about to follow.

  Price action behavior around previous highs/lows, around trendline support/resistance and confluence levels, is of paramount importance when trying to establish a trend reversal signal. Along with that, candlestick patterns such as the doji, engulfing or pinbars, to name few, can add some validity to the incipient reversals.

  All of the above can provide signs of exhaustion leading to potential reversals. Exhaustions are usually accompanied by consolidations, which can be another sign of an impending reversal.

• W.M Swing Trading Strategy Breakdown Part 1

  40:46

  See Also

  Stock Market Guides: Offering Stock Market Research

  Tips for Forex Trading Beginners

  Before you start something new, begin with the fundamentals. Let’s look at trading tips every trader should consider before trading currency pairs.

  1. Know the Markets

  We cannot overstate the importance of educating yourself on the forex market. Take the time to study currency pairs and what affects them before risking your own capital; it’s an investment in time that could save you a good amount of money.

  2. Practice

  Put your trading plan to the test in real market conditions with a risk-free FOREX.com practice account. You’ll get a chance to see what it’s like to trade currency pairs while taking your trading plan for a test drive without risking any of your own capital.

  3. Know Your Limits

  This is simple yet critical to your future success: know your limits. This includes knowing how much you’re willing to risk on each trade, setting your leverage ratio in accordance with your needs, and never risking more than you can afford to lose.

  4. Know Where to Stop Along the Way

  You don’t have time to sit and watch the markets every minute of every day. You can better manage your risk and protect potential profits through stop and limit orders, getting you out of the market at the price you set. Trailing stops are especially helpful; they trail your position at a specific distance as the market moves, helping to protect profits should the market reverse. Placing contingent orders may not necessarily limit your risk for losses.

  5. Check Your Emotions at the Door

  You have an open position and the market’s not going your way. Maybe you could make it up with a trade or two that don’t fit with your trading plan...just a couple couldn’t hurt, right?

  “Revenge trading” rarely ends well. Don’t let emotion get in the way of your plan for successful trading. When you have a losing trade, don’t go all-in to try to make it back in one shot; it’s smarter to stick with your plan and make the lost back a little at a time than to suddenly find yourself with two crippling losses.

  6. Keep It Slow and Steady

  One key to trading is consistency. All traders have lost money, but if you maintain a positive edge, you have a better chance of coming out on top. Educating yourself and creating a trading plan is good, but the real test is sticking to that plan through patience and discipline.

  7. Don’t Be Afraid to Explore

  While consistency is important, don’t be afraid to re-evaluate your trading plan if things aren’t working like you thought. As your experience grows, your needs may change; your plan should always reflect your goals. If your goals or financial situation changes, so should your plan.

• W.M Swing Trading Strategy Breakdown Part 2

  25:11

  Tips for Forex Trading Beginners

  Before you start something new, begin with the fundamentals. Let’s look at trading tips every trader should consider before trading currency pairs.

  1. Know the Markets

  We cannot overstate the importance of educating yourself on the forex market. Take the time to study currency pairs and what affects them before risking your own capital; it’s an investment in time that could save you a good amount of money.

  2. Practice

  Put your trading plan to the test in real market conditions with a risk-free FOREX.com practice account. You’ll get a chance to see what it’s like to trade currency pairs while taking your trading plan for a test drive without risking any of your own capital.

  3. Know Your Limits

  This is simple yet critical to your future success: know your limits. This includes knowing how much you’re willing to risk on each trade, setting your leverage ratio in accordance with your needs, and never risking more than you can afford to lose.

  4. Know Where to Stop Along the Way

  You don’t have time to sit and watch the markets every minute of every day. You can better manage your risk and protect potential profits through stop and limit orders, getting you out of the market at the price you set. Trailing stops are especially helpful; they trail your position at a specific distance as the market moves, helping to protect profits should the market reverse. Placing contingent orders may not necessarily limit your risk for losses.

  5. Check Your Emotions at the Door

  You have an open position and the market’s not going your way. Maybe you could make it up with a trade or two that don’t fit with your trading plan...just a couple couldn’t hurt, right?

  “Revenge trading” rarely ends well. Don’t let emotion get in the way of your plan for successful trading. When you have a losing trade, don’t go all-in to try to make it back in one shot; it’s smarter to stick with your plan and make the lost back a little at a time than to suddenly find yourself with two crippling losses.

  6. Keep It Slow and Steady

  One key to trading is consistency. All traders have lost money, but if you maintain a positive edge, you have a better chance of coming out on top. Educating yourself and creating a trading plan is good, but the real test is sticking to that plan through patience and discipline.

  7. Don’t Be Afraid to Explore

  While consistency is important, don’t be afraid to re-evaluate your trading plan if things aren’t working like you thought. As your experience grows, your needs may change; your plan should always reflect your goals. If your goals or financial situation changes, so should your plan.

• W.M Day Trading Strategy Breakdown

  37:08

  Tips for Forex Trading Beginners

  Before you start something new, begin with the fundamentals. Let’s look at trading tips every trader should consider before trading currency pairs.

  1. Know the Markets

  We cannot overstate the importance of educating yourself on the forex market. Take the time to study currency pairs and what affects them before risking your own capital; it’s an investment in time that could save you a good amount of money.

  2. Practice

  Put your trading plan to the test in real market conditions with a risk-free FOREX.com practice account. You’ll get a chance to see what it’s like to trade currency pairs while taking your trading plan for a test drive without risking any of your own capital.

  3. Know Your Limits

  This is simple yet critical to your future success: know your limits. This includes knowing how much you’re willing to risk on each trade, setting your leverage ratio in accordance with your needs, and never risking more than you can afford to lose.

  4. Know Where to Stop Along the Way

  You don’t have time to sit and watch the markets every minute of every day. You can better manage your risk and protect potential profits through stop and limit orders, getting you out of the market at the price you set. Trailing stops are especially helpful; they trail your position at a specific distance as the market moves, helping to protect profits should the market reverse. Placing contingent orders may not necessarily limit your risk for losses.

  5. Check Your Emotions at the Door

  You have an open position and the market’s not going your way. Maybe you could make it up with a trade or two that don’t fit with your trading plan...just a couple couldn’t hurt, right?

  “Revenge trading” rarely ends well. Don’t let emotion get in the way of your plan for successful trading. When you have a losing trade, don’t go all-in to try to make it back in one shot; it’s smarter to stick with your plan and make the lost back a little at a time than to suddenly find yourself with two crippling losses.

  6. Keep It Slow and Steady

  One key to trading is consistency. All traders have lost money, but if you maintain a positive edge, you have a better chance of coming out on top. Educating yourself and creating a trading plan is good, but the real test is sticking to that plan through patience and discipline.

  7. Don’t Be Afraid to Explore

  While consistency is important, don’t be afraid to re-evaluate your trading plan if things aren’t working like you thought. As your experience grows, your needs may change; your plan should always reflect your goals. If your goals or financial situation changes, so should your plan.