No matter how good of a trader you become, trading ideas will likely not come to you out of thin air. In this thread we will be posting videos on a weekly basis outlining how you can use DailyFX.com to find trading opportunities. If you have questions about any of the content presented in our videos feel free to ask. We are here to help!
DailyFX Power Trading Course Instructors
Thomas Long
Matthew Russell
Richard Krivo
Gregory McLeod
Sean Hyman
Watch this video to learn more about FXCM's 3-Step Education Program.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information
The inability to forget is far more devastating than the inability to remember.
Mark Twain
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
The SSI or Speculative Sentiment Index is one of the most effective indicators that we can use in Foreign Exchange. Click the image below to view a brief presentation on the historical accuracy of SSI and how it can be applied to your trading.
Once you have finished viewing the presentation, scroll up or down to view other similar presentations on various topics. You can also scroll down to the bottom of this thread (the last post) to view today's (Oct. 20, 2008) DailyFX Trade Set Up.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Here is a brief introduction video from Lesson 3 of the FX Powercourse where I mention the benefits if Fibonacci and the danger of using Moving Averages. These areas are covered in much greater detail on the course itself.
Please note: You might need to turn up the volume on your speakers as I am competing with the sounds of New York City.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
For newer traders, the main focus should be entry points. The exit should be determined by your risk to reward. For example, if we are risking 30 pips on the trade, we should look to take profits when we are up 60 pips in the trade. That is the basic rule. I might suggest increasing that to 90 pips and a 1:3 risk to reward ratio.
Now, of course, we might hold for a longer period of time in some situations. But that is a little more advanced. Learning to exit is the most difficult aspect of trading. Even extremely successful traders struggle with exits from time to time. We should learn how to enter and place our stop first. This should be very mechanical. Exits are more of an art form.
The key point is that we should strive to acquire an exit problem. What to do with all these profitable trades? You might spend the rest of your trading career dealing with that issue. My point is that it is a good problem to have. But many traders do not get to that point because they have not mastered the entry, which in relative terms, is a lot easier to master.
For an example of a method I personally use for exits, please view the presentation below.
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Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
For those of you not familiar with my baseball analogy, the key point I am making here is that we can have many confirmations, sound reasons for entry, and yet, the trade might still not work out in our favor.
Anything can happen in one individual trade. The key is to develop a sound trading strategy that will last for the long haul, not the next trade. Keeping this in mind should give you the proper perspective and help you manage the risk for each individual trade properly.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the play button to view the presentation. Once you have finished viewing, please feel free to view the rest of the thread (by scrolling up or down) which contains several presenations on various related topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Click the "Play" button to view the presentation. The DailyFX Video of the Day is posted at 9PM EST (New York Time) each evening. Once you are finished viewing, feel free to explore the rest of the thread (by scrolling up) which contains the previous Daily FX Trade Set Ups, as well as several other presentations on various topics.
__________________
Enroll in our online FX Power Course today and get personalized instruction from our team of expert traders 24 hours a day. We have taught over 25,000 students and in just eight lessons, we will teach you the fundamentals of Forex trading. Click here to get more information.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
