How to pick your first winning Forex trade
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Have you ever caught yourself dreaming of a trip to Spain in the summer, that brand new set of golf clubs, or even the holiday home down in Cape Town you've always wanted? Who says they only have to be dream? Not me. I want you to have these things… That’s why today I want to tell you that whatever you're dreaming about, my simple Forex methodology and techniques could help put you on the road to all of this and more!
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How to pick your first winning Forex trade
- 2. 17 3 13 18 36 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? 26 11 The only indicator you need to pick winning Forex trades 38
- 3. Share Today, I want to share my insights into this amazing financial freedom technique, and all its hidden potential!
- 4. 4 WHAT IS FOREX "FOREX" stands for foreign exchange
- 5. 5 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.
- 6. 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) 6
- 7. 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
- 8. Who are the big players in this market? ¥ Corporations involved internationally ¥ Travelers / Tourists
- 9. 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.
- 10. 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.
- 11. How to conquer the two most common trading demons
- 12. 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"
- 13. Market basics 13
- 14. How to read charts Bullish Markets Bearish Markets
- 15. What influences exchange rates?
- 16. How the Euro exchange rate dropped 16 How the euro Exchange rate dropped?
- 17. Trading platforms Desktop Phone Tablet
- 18. The only indicator you need to pick winning Forex trades
- 19. How the indicator works
- 20. How the indicator works After that time, high and low values are fixed and become the new resistance and support levels to breakout from.
- 21. 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).
- 22. Avoid a false signal using this top trend Indicator
- 24. 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
- 25. Simple enough to understand right?
- 26. Money management: The key to being a successful trader 26
- 27. 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!
- 28. Typical Scenario
- 29. 1:2 Risk Ratio Stop - Loss Target1 Open Target2 000 200 400 600 800 1000 400=Profit200=Risk
- 30. How to stack the trading odds in your favour
- 31. 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)
- 32. Where do I start? • What you get: – Trading plan template – Money management – Trading journal – My personal Forex indicator • Opening an account is easy • lucky@vunaniprivateclients.co.za • Trading Desk Vunani Private Clients 011 3842920/1/2/3/4 R
- 33. 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
- 34. Thank you Lucky Skosana Vunani Private Clients 151 Katherine Street Sandton 011 3842921 Lucky@vunaniprivateclients.co.za
Editor's Notes
- Welcome to my Fx event. The idea is simple. It’s to show you How to pic your first winning forex trade successfully. You’ve already shown a keen interest in the forex markets. But perhaps you’ve been unable to make any progress in actually turning that intrigue into making money. Well, believe me, you can do it.
- The step to your Forex journey will begin with ….
- 4. Destination / Objective Sentence: State clearly why you are speaking at this moment. State your Goal, Thesis or what you expect as an Outcome. State your Destination. An example may be... "This evening/today I am here to convince you that .... is the most effective way to do business today" Today, I want to share my insights into this amazing financial freedom method, and hidden potentials, in YOUR life today.
- Demand for one currency for another A FOREX trade consists of the simultaneous purchase of one countries currency while selling another’s - that is, you're exchanging the sold currency for the one you're buying. You may have asked yourself why you are getting interested in the Forex market, what attracts you that much and why you have decided to start trading. Actually, there may be many reasons, but let us note that the most important one is the independence. The advancement of the Internet made the market available around the globe and thus possible for people to trade online. The reason of the growing interest is the financial independence which is possible to gain through going deep into Forex and trading wisely. No matter you are a doctor, teacher, manager or a journalist, still you may be involved in this limitless market. Here you do not have to deal with any boss and bare someone’s appeal or anger; you are accountable only to your personality and thus are free to make your own decisions. Are you interested? Let us introduce you some important features about Forex market, which will help you in studying this interesting area and obtaining profit from it.
- It’s big
- When you buy one currency you sell the other
- Most people who get into trading seem to be attracted by the lure of making big money and making it fast . . . or so it would seem by the pitches and promotions from vendors that offer services or products that promise to deliver what traders are seeking.
- So how can you reduce the effects of greed and fear as a trader? Here is my brief take:
- Learn to read the markets its not difficult
- Moving Average: Can use for all trading, Gives Clear buying/Selling Signal Can use over a short, medium and long term period
- Moving Average: Can use for all trading, Gives Clear buying/Selling Signal Can use over a short, medium and long term period
- Flip to the desk top platform
- The indicator will adjust the blue box with the high and low price values until it reaches the end of the period, 05H30 platform time.
- It draws coloured boxes like the picture bellow: Red box – This stretches from the beginning to the end of the breakout zone. This is a ‘no trading zone.’ You have to wait till the red box ends. Green line – The Box breakout offset zone creates a green buffer above and below the breakout zone. This buffer serves as a filter for: Breakout line tests, noise around the breakout line and it prepares you to trade. Blue zone - This is the exact High to Low price range in between the hours that were picked as the breakout range.
- One of the most overlooked areas MM keeps us in the game when many novices are knocked out Many people see the trades but don’t manage money well
- Analysing the markets and setting up trades at the start of day, is a very easy and effective way to improve you trade entries. 90% of the trades I take, I use the ‘TLS’ model. T.LS. stands for Trend, Level, Signal, in other words; Find the TREND / market bias, find the key LEVELS, and look for a trade SIGNAL, when you have all three of these or even two of these points in alignment, you have the ‘perfect storm’ in terms of a trading opportunity. A stop order is a pending order that you place above or below the current market price, depending on which direction you’re trading. Remember; stop orders allow you to ‘let the market come to you’ by only entering if the market breaks to a price of your choosing. A simple checklist / plan will assist you in filtering good signals from bad signals, and will also hold you accountable.
- Do you still think you need trade experience? This is a graphic indicator simple enough to understand. It is not complicated to use; we just simply have to wait for a breakout above or below the green zone. As such, it requires no special skills in order to use it.
- One of the most overlooked areas MM keeps us in the game when many novices are knocked out Many people see the trades but don’t manage money well
- 10 trades at 10% of equity only leave a third left after 10 losing trades but with 2% risk 73% equity still left 26% drawdown Vs 65% drawdown
- Remember the idea is to stay in the game! Vary between 1 and 3% depending upon your confidence in the trade Stake calculator?
- Closing 4. Decision-Maker (Clincher - optional): "Coming around is the petition ...“ "Being passed from the rear is a bag for your contribution to this noble cause, dig deep ..." I am so excited by forex, that today I have beautiful. It is being handed out now. Take this Opportunity right now and it might change you life forever. My number is there, give me a call if you have a question. There is no charge.
- Closing 4. Decision-Maker (Clincher - optional): "Coming around is the petition ...“ "Being passed from the rear is a bag for your contribution to this noble cause, dig deep ..." I am so excited by forex, that today I have beautiful. It is being handed out now. Take this Opportunity right now and it might change you life forever. My number is there, give me a call if you have a question. There is no charge.
- Closing 4. Decision-Maker (Clincher - optional): "Coming around is the petition ...“ "Being passed from the rear is a bag for your contribution to this noble cause, dig deep ..." I am so excited by forex, that today I have beautiful. It is being handed out now. Take this Opportunity right now and it might change you life forever. My number is there, give me a call if you have a question. There is no charge.