Thread: Trader IQ - 21C

Hello Trader!

Thank you for completing the Trader IQ brainshark Quiz!

Based on your answers to our questionnaire, we determined the best curriculumn for you would be our 12C program in which we'll introduce some advanced technical indicators so that we can further investigate some basic trading strategies that traders look to employ based on the prevailing market condition.

The links below are the full lesson plan. Please complete these resources in order, and once done, join us in the Live Classroom of DailyFX PLUS for some interactive education!

By the end of this lesson, you will have:

Built a more in-depth understanding of Technical Indicators and how they can be used
Learned 3 basic trading strategies utilizing various indicators that traders may look to employ based on prevailing market conditions
Developed a more thorough understanding of the range-bound market condition

This curriculum will take approximately 3 hours.

The links below are the full lesson plan

1. Watch the Following Videos from past FXCM Expo's:

The Top 10 Advanced Technical Indicators

Innovative Techniques with Traditional Technical Indicators

3 Basic Trading Strategies: MACD, Candlesticks, and News Trading

Action Point: On your demo account, look to employ each of the 3 strategies. Choose a 'High Importance' news event to employ the News Trading Strategy as discussed by Richard Krivo. Look for appropriate market conditions to employ each of the other strategies discussed in the 3 Basic Trading Strategies presentation.


2. Range-Bound Market Conditions

Watch the following FXCM Expo Presentation on Trading Pairs that Range - When do they work?

Read the following article: How to Analyze and Trade Ranges with Price Action

Homework: Look for a currency pair in a range-bound pattern as outlined in the previous two resources. On the demo account, look to place a trade with a risk-to-reward ratio of 1-to-2.

We suggest continuing your education by logging into the DailyFX Plus Live Classroom.

Doing so will enable you to further your understanding with the following topics that are found in the On-Demand Video Course:

MACD
Stochastics
Bollinger Bands
RSI
Moving Averages
Range Trading

Additionally, attend live webinars on:

Indicator based webinars on DailyFX PLUS (such as MACD with Richard Krivo)
When is the Best Time of Day to Trade FX
How to Build a Trading Strategy

Advanced Studies:

3. Elliot Wave

3A. Watch the FXCM Expo Presenatation of Trading with the Elliot Wave Principal

3B. Request and review the Elliot Wave guide for Beginner and Advanced Users from the following [link]

Homework: Analyze the 4 currency pairs (EURUSD, GBPUSD, USDCAD, and AUDUSD) on the daily chart, employing elliot wave analysis. Look for potential trading opportunities that offer a 1-to-2 reward or better, and place a trade for each opportunity found on the demo account.

4. Fibonacci

4A. FXCM Expo Presentation on Beginner Fibonacci

4B. Read the following articles:

i. Using the Fibonacci tool, part 1
ii. Using the Fibonacci tool, part 2

Homework: Apply fibonacci studies to the 4 hour charts of EURUSD and AUDUSD. Look for opportunities to buy at support, or sell at resistance in which you feel comfortable looking for a risk-to-reward ratio of 1-to-2 or better on each trade.

5. Sentiment in the FX Market

5A. FXCM Expo presentation of Measuring Sentiment in the Forex Market

5B. Watch the video on SSI (Speculative Sentiment Index) (DailyFX: Trading with SSI (Speculative Sentiment Index))

Homework: Look for trading opportunities on the demo account utilizing Elliot Wave, Fibonacci, and SSI in which SSI is offering a 2-to-1 imbalance or greater. Only initiate trades in which you feel a 1-to-2 risk-to-reward ratio is possible.

We suggest continuing your education by logging into the DailyFX Plus Live Classroom.

Doing so will enable you to further your understanding with the following topics that are found in the On-Demand Video Course:

Elliot Wave
SSI

Additionally, attend live webinars on:

Fibonacci
Trading with SSI
How to Build a Trading Strategy

i think that the blog can help us for improving our forex knowledge. if we want to do better in forex market we have to read blog and write blog. it helps us to improve our forex knowledge.

Sorry. The videos you refer to can not be watched in the mainland of China. Could you email videos to me at heping06@126.com. Thanks.